Indianapolis Times, Indianapolis, Marion County, 27 April 1952 — Page 39

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27, 1952

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a have elieved shoes, r needle and OW you ors in . Pate ve you Fees FOUR [INTED es at f 10%.

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bumps were out of the air. And

“thing else, happier,

- summer climzte,” drop when the gene. C.

Section Four :

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. Business Loh Rey Small Home Plan ... cove...

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Real Estate

LOOKING IT OVER—Members of the Real Estate Board and their wives spent Thursday aftcting the 27th annual Home Show model house which features the newest in housing. "House. For Moderns" are, left to right, Mr. and Mrs. John Lookabill, the Ralph E - 'Hyebers and Robert Mason and wife. The show ends tonite. %

ernoon ins Enjoying +

Today «Business

Labor Eyeing Profit Reports

F & By Harold Hartley BUSINESS TURNED its weathered face toward the on-coming summer sun. It was looking for a pickup in the breeze. Glib sailor tongues had begun to predict it. But only the weather was better, not business. The

there were no squalls in sight. | The lines team with empty hoBut neither was there any rising tels, tourist accommodations, wind to give the sails that iron- night clubs, rubber-neck busses, hard feel of going places. {for travel wrap-ups, dirt cheap.

Rapidly growing government ra controls has business worried, all a SIE RN Wi IRLINES a last along the line. George V. Hol- 3. Bc 3 minimum found trip . y [for seven nights and six days to ton, Socony-Vacuum chairman, agiami with the cost of the Miami told stockholders it is “the most end, plus meals, only $22. Round dangerous threat.” : trip fare is $119.37 with tax. But Socony President B. Brew-| And coach fares are cutting ster Jennings told them some-iinto the travel dollar. DisgrunHe said theitled rail men call them “train company’s profit for the first robbers.” : quarter was $41 million after| taxes, up from $37 million last with a 40 per cent drop in regula

year. gare.

s x =» | They use the same big Constel-

OTHERS WERE not doing %0lations (60 seats) and Super-Con-|

They lure the long hauls away r

}

well. Bethlehem Steel and most stellations (88) which fly the lux-|

others showed sharp profit shrink-lury runs. Only age. And it is these profit figuresithey fly at night, which labor is watching. But labor, especially in Indi- 2 x 8 . ana, is not nearly so wrought up| THE SKYLINES are still using as business, even with employ-the family budget idea. It is ment riding a level line. /good only . Mondays through . 8 8 (Wednesdays. But a man who pays THEN THE purchasing agents/full fare may take his wife for dampened earlier hope of a pick- half-fare, and his children, too, up. They reported back orders'between 12 and 21. have taken a sharp drop. And| Eastern is playing heavy to the the usual upswing in some lines Caribbean trade and is looking is more than offset by the crack-/for summer rates to San Juan, up in the industrial situation. [Puerto Rico, Havana, Nassau and Labor was sitting back, walt-the Bahamas. Not far, San Juan ing, as fearful of strikes as man-/is only 11 hours elapsed time] agement, maybe more so.

difference that cut passenger

service to one flight attendant. |

| | |

The|from Indiahapolis, |

reason is that labor lives on its] no. i

weekly pay check. Even a one-| week layoff pinches where the and sales manager, is looking belt buckles. {ahead to Eastern’s 60-passenger » # EJ AND LABOR had a deep fear South run, of a steel strike. Bob Fox, head| of the plumbers, and former head service today, linking Chicago, of the Central Labor Union, said | Indianapolis, Birmingham, a long steel strike would have Tampa and Miami. Eastern also thrown two-thirds of the country Will have its Silver Falcons (40 out of work. And labor, he said, Seats) in service, equipped for a| would be the first to be against|quick switch to turbo-prop motors that. {When the Navy giyes the nod. “Labor is trying to close the] . 4 4 Fo between i and prices,| OTHER AIRLINES have sumand the best it is ever able to do Mer rates. Their aim is to get is’ about a 25 per cent lag.” you to parts of the world you And I thought as he said it Could never see any other way in {hat the 25 per cent just about|2 WO or three weeks vacation. measures labor's tax. And It’s safer now. The quarter-in-could be possible that the entire the-slot insurance policies at airlag is taxes. ports have raised, their coverage an rom $5000 to $10,000. And it's ‘ tment stores StI & quarter. oa — Pr air the week Reason: last year's safety recafter Easter, but are pulling up 0rd put fatalities at one in every on the year to date. They are '' Million miles, now running about 5 per cent be- Think It Over ° hind last yéar, better than most LAL of the weeks this year, MEN WHO know TV, and like TV is in slow motion. So are their country, too, are wonderappliances. But you can look for|Ing. them to begin to move in the next| The big political conventions,

six weeks. Spring does that, es-(8nd campaigns are coming up.|

pecially in cleaning appliances. And voters will either like or dis-

Then the hunt for vacation] money will crimp stay-at-home Or radio. spending. | And some are pondering out|

makes jobs in good weather, is the for the White highest in six months, said the| - Engineering News-Record. And Bagines is in the same fix as man- Me, reflectively, “The good lookufacturers.

Before buildlers put up anymore houses, some of thent will have to But there>has always been a lot

{of good-looking, get their money out of the houses| = 4...

they built last year. No ’52 mod-|® els until they sell their '51s. i And it's the same story from

the prime producers, the factories. » » »

House. n ”

want a steady diet of these fair |cheeked boys in important gov

“ral t ernment jobs. THEY SAY, We ye mot 10 po “Maybe we'd better look Inside our money w/the man, instead of at him, to get hand, before we make any more.

’ {the right ones.” They can’t wait forever. And) And, Somehow. that had a rethat's what has been

price shaving sounding ring of truth for me. S. :

Train Robbers’ Hear Harold Hartley on

. WISH at 8 p. m. today. THE AIRLINES are tuning up fo for the vacation buck. ‘More Brokers Join When the flight compass points; South, fares. will be cut to the| “summer excursion rates.”

stitute of Real Estate Brokers

GEORGE F. JORDAN, traffic!

Constellation service on its north-|f00t ceilings.

The big “Connies” will go into |about 1275 by 10 feet, the kitchen price is.

{for about $2100

and requires no chimney,

| i

like the candidates on television, East Side, where he has lived 35 conventional

» \loud whether television and ra-| BIG . CONSTRUCTION, which/dio will produce the best brains|

ONE BUSINESSMAN said to

|ing men, and those with the {come-hither voices will be elected. !

mellow-tongued|

| “We get taken in by them every, | day in some way. And we dop’t|

Membership in the National In-

Tours to Miami, which is be- reached 10/850 this week with ad-

to brag about its p president, announced.

“mild dition of 117 new members, Eu- : Fretz, Knoxville, Tenn.,| "L" shaped desi

. : SUNDAY, APRIL 27, 1952 ,

60 Ranch Homes

Greenway Estates Is Location

Sixty modern brick homes of three bedroom ranch design are planned for construc-

tion in the Greenway Estates Addition of the Meridian Con“istruction Co, Five model homes in the subdivision will be open for inspection today from 2 to '5 p. m, in| the. 6200, 6300 and 6400 blocks of N. Parker Ave. In charge of sales! for the addition is Sam Protheroe| of the Hall-Hottel Realty Co.

The houses range in price from}:

Are Planne J

GREENWAY ESTATES—Sixty new North Side homes.

2 North Side Properties Sold; Bring Half Million

: na | This week's sales report of | |Associated North Side {listed the sale of 29 jworth a total of $539,400, Chatr‘man Guy Boyd Jr. reported. = Secretary Wayne Whifiing listed the sales as follows, Walt Veon Co.—7219 Williams {Creek Dr. 4727 N. Pennsylvania St, 6838 Brouse Ave, 5148 Ro lyn Ave, 2108 E. 34th St. ¢o-

R100 bs S500 324 all are Supe throughout the houses, except in Lots are at least 100 feet wide kitchens and tiled bathrooms. and between deep. Costs of seeded. lawns and other landscaping are included in the sales price. About 80 per cent of the new homes will have a full basement which is divided into two areas; one to house the laundry and heating equipment, and a room 25 by 14 feet which may be developed into a social or recreation area.

All Built of Brick ties. | New construction is the master oject will be! “Buyers who now own their own key, and in itself, frequently supor mes in the project have homes can trade them-~in on the plies the answer to many dimthree bedrooms. Some will have purchase of a new home in the, culties now found kitchens large enough to eat in project,” Mr, Protheroe pointed at and near the (11 by 18 feet) and others will/out. “Hall-Hottel will arrange core of great offer a dining area adjacent to either FHA or conventional credit modern eclties. the 21 by 13 foot living room, [for purchases.” — No immediate All kitchens are equipped with, The developers, Meridian Con- solution is in custom built wood cabinets and struction Co. have completed sight for some of floored with inlaid linoleum. |several other large residential these puzzlers. Six roomy closets with sliding projects in Indianapolis and That is largely steel doors are distributed Marion County, including 175 because of fed throughout the house, one in each homes. in the Campus Terrace ad- ‘eral controls and of the bedrooms. {dition, bullt on the site of the old regulations, high The living room varies in size Butler University campus at Irv- tax burdens and

tomatic hot water,

School Bus Service “The development is in the Downtown John Strange Elementary School’ . district and busses take the chil-| - dren to and from the school,” Mr. Protheroe said. “Bus seryice to Broad Ripple High School is also provided.” normal, downtown Indianapol Greenway Estates has blacktopped streets and is serviced by

By 1. H.

Realtors Speaker

with the home design, ranging ington. Mr. Lewis the current confrom 21 by 13 feet to a living-| They also own and operate the : fused state of the dining combination’ area more Carvel Court and Colonial Court economy, Road blocks will have

than 30 feet long. All living apartments within the city and rooms are equipped with picture were the builders of the 1950 windows and a fireplace. {Home Show house at 201 W, 73d Hardwood floors are used St,

to be eliminated and green lights’ turned on before individual incentive will move freely, Activity in downtown real estate in all major cities, including Indianapolis, is below the 1951 level. This condition may, and probably will, change in some respects almost overnight. Below-{the-surface. factors, that have

Real Estate— such widespread bearing, now point that way,

Regulation X- ' May Be Junked iri

the fact that it presently is not economically sound for private enterprise to erect commercial

By DON TEVERBAUGH structures of the special purpose

SELLING AMERICA —Dr, |, Poking Allen A, Stockdale of the Na. | « ° 4

tional Association of Manufacturers will address the Real Estate Board at the Thursday luncheon meeting of the real. tors at the Columbia Club. His topic will be "Selling America— Your Job."

City Inventors’

200 and 300 Toot), AIL hotties Dave an stinched Wh at Is the Futu re of

> r y i RDA TR Re

With new commercial building running decidedly below St. 3145 Stuart St. 3261 Sut

|operating broker Jack C. Carr, (Ine. pon Norman L. Hammer—4233 1B, 75th Bt, Boone County p tVs Gregory & Appel—-5238 {side Dr, ; he

Ford Woods—1001 Arrow Ave Knight Realty Co, ~ 611 N, Delaware St, 6103 Eastridge Dr, | J & L Realty; Ino~3141 Stuart

Property?

LEWIS

land Ave, 2831 N, LaSalle St is in 1952 is confronted with Russell Fortune Jr—5635 Sine

‘many complicated situations and perplexing problems Along ger Lane. city water, gas and electric utili- the highways of progress and development.

Fred T. Hill—8038 Ralston Dr, Robert E. Walker—861-3 Berk~ area in downtown Indianapolisiley Rd. ! rt will not be enjoying their highest) g,ynes Realty Service—T100 and best use for some time toig {1m 31, 3502 N. Grant Ave. rome, F. O. Tucker Co~005 Ni Spark for Progress Salle St, lots 3 and 4 ‘Twisam While realty activity downtown Addition, co-operating broker supplies much of the spark for American “33 community progress, ‘there are| Ww, I, Bridges & Son -=B166 many other factors in” the situa Guilford Ave. # tion, For example, all Indianapolis is interested in maintaining a4, Ave, good mass sransportation system, Bdgar Brodbeck—5641 but the downtown area a pe- , ‘951-3 High St. nT and a direct interest over Ave, 3513 St. and above that of Mr. and Mrs... 1ane, 85002 Average Citizen, Without such a system In operation—and that is almost un-iy ...

thinkable-—about 70,000 addition- : - = al private autos would be required ge as a substitute to serve the down- Walt Veon y Co. “ Sets Sunday Hou For Home Sales

town area. : What a mess that would make. Our current survey of the recent reassessment of real estate, while not complete, shows many tax inequities still’ remain, New legislation may be necessary to tobe with ig uation. wntown districts, as always, _ will cofftinue to play an active|/fTom 1 to(5 p.m. and leading part in the growth| and progress of all large urban centers, They have a grand and glorious past in the production of skylines, Nothing of permanence will arise to dim their future. A sustained spirit of mutual co-op

THE TALK OFFSTAGE i8 that Regulation X with its Mh rteis and large office buildings

Portable House May Help Army

Two Indianapolis businessmen

in May to boost the sales of new homes. 3 But whether it will spur the sales volume in the housing ages ine Siding, ahd shout. 1928

market is doubtful. | hotel, were erected in the downtermined solely by the market de- i wns rea of Indianapolis. During n

I talked the possibility over | this week with the top mortgage ™ that period two large, old, downtown hotels were torn down.

have come up with a specially makers in the city. The idea It is about 5 per cent at presdidn’t surprise them. As a mat-®nt, compared to 4% and 4 per qpyiougly, this situation has many far-reaching angles. This same situation generally

designed portable housing unit which they believe will answer ter of fact, they more or less an-|cent for FHA and GI home loans, prevails, however, in all metropolitan cities throughout the coun-

a great many of the GI housing |ticipated the move. Qutside Glamour problems at such installations as| yo. pe strictly politics, they| The president of a large Chitry, with some very slight variations.

Camp Atterbury, say. And it won't help John Q.|cago paint fi'm put his finger on The inventors are C. Cosby pypjic buy himself a house at a a fast growing trend in housing Kerney, a Blewart-Warue: em-| ower down payment, unless he this week. ployee, and James Bookedis, a buys in the luxury field. i He said the interior decorator civil engineer. They plan to offer| Now homes costing over $25- is going to have to step outside. their design to the Defense De-|,,y require, under Regulation X, Color is the big reason. The white [problem today in every large partment. la down payment of 50 per cent of house is taking on a new hue. [downtown district hinges around Their housing unit is completely the sales price. + That's pretty| The paint executive with the traffic control and off-street parkprefabricated and small enough jigh, higher than necesary, the words is Willlam M. Stuart of the Ing. to be mounted completely as- mortgage investors believe. {Martin-Senous Paint Co, and he's| Luther J. Shirley, chairman of sembled on a truck or railroad| p.: the low cost home buyer, hit it on the head. His firm has the Off-Street Parking ‘Commisflatcar for shipment. The unit the experts agreed, will still have expanded their color line three sion, and his co-workers are tryis 10% by 28% feet and has 8 plunk down at least 10 or 15 times since 1950. They now offer|ing hard to find the answers to Iper cent of the cost of his mew more than 200 color tones in off-street parking, but it is a room measures home, depending on how high the house paints, tough job and progress necessarily | One of the big reasons for the|is slow. change is the recent trend toward| Recent store openings downmost outdoor living. {town on Thursday night have infeet. {mortage men feel. Savings are| It brings tremendous changes,|creased the size of the traffic Built-in Storage Space lat an all time high, they point| ¥or one thing, Mrs. Housewife problem. iw lout, but most people want a more (Will be the Boss Man on the | High bullding costs supply the | costly home than they can afford paint Job, just as she is for thelreagon for the lack of new lowunder curent economic circum- interior decorations. cost housing units, which under Ine ers ander the that stances. As long as 90 per cent of the ordinary conditions would be

Parking a Problem Possibly the most bothersome

The living

71% by 5 feet, the bedroom 81% by | o..8 8 10 feet and the bath 7% by 5 THE MONEY'S there,

Their design features built-in storage space of all types—even

high downpayments will be relaxed or completely removed coms within that category. It was meet successfully any challenge ? gaye along about 1931 when the last to the contrary,

eration, combined with an abiding faith, are necessary, however, to

NOTE: This is the first of a series by the “Men Who Know" real estate to keep Times read ers alert to changing. trends, With the co-operation of the Real Estate Board, these reports will appear exclusively in The Sunday Times.

; They want a $15,000 house for nation's .frame houses were found under construction in many it Way bs attachéd to another, or $10,000, or at least at the down painted white it was safe to let older districts within walking| ih Ey Te Setianate the payment of a’ $10,000 house. good, old, unimaginative Pop pick [distance of the downtown area, Aa we oT A Under Regulation X practically the paint. But that’s all changed Some of these locations are per-| $ , igeed and 8 «all competition for mortgage in- now, Now it takes talent, {fect for such development. 888 vestments have been eliminated. And here are some things to A Sil Lini The only competition comes from keep in mind for your spring Buyer loping other sources that offer more at- house painting program: But dark clouds and . murky skies in our economy almost in-

t tive interest rates for the rn Ho Wo Tacily 1 PROPER PROPORTION for variably have a silver lining.

money. ont) | your home can be attained, if it! In the case of downtown dis-|

Regulation X has pleased the * nders. It's kept them from APeArs too large for your lot, hy tricts we think this particular

stretching for investments as '°PIAcing white with softer tones lining will prove to be a big bon- > they had to do following the war of Breen, This Solar blends well anza. While this temporary recess| a 50 when the |W awn and trees. in building In and near downtown lee T. Long Reopens and. until late a bw inflation Ver think about painting your areas serves currently to reduce| Lee T. Long, active in really... roof? It'll make your house look the normal supply of realty life estate for the past 20 years, this| p, today the flow of housing larger and at the same time keep blood for such districts, it at the week reopened his own office’ atl.redit is controlled by the inter-|1t cooler by reflecting the maxi-isame time is creating the great-| 4806 BE. Washington St. Mr. Long|est rates on FHA and GI insured Um amount of the sun's rays. |est potential backlog of building] will specialize in property on the|lpans. There is no shortage of , Modern architects and decora-ithe country has ever witnessed. : mortgage money, tors now have pleasing color| Until this backlog becomes op-| lthe interest rate of which is de- |S¢hemes which feature for outside erative, downtown districts in| {walls such colors as blue, green, many respects, but not all, willl |red—even plum. White and other|continue to hold a status quo posi-|

Oo on Toda From 2-5 p y \contrasting colors are suggested tion, And so a major portion of| $ Y ® eo |for trimming. the approximately 1531 privately

| in car lots, Plans call for construction on cement blocks with asphalt tile flooring. The units are to be heated by an 18,000 BTU space heater which is built into the wall te

years,

ito pick out a different combina- = tion from other houses in' your| {neighborhood, L 4 | Also keep in mind, while con-| © |sidering various color schemes, © [that the colors of your shrubs, (grass, trees and plants change] {with the seasons and will affect {the overall appearance, i

Property Owners ‘Meet Tomorrow The third annual Indiana Con-|" vention of the United Property| {Owners of America, Inc, will be} held tomorrow at 9 a. m. In the {Claypool Hotel, f Rep. Carlson Moore (D, Tex.) will be one of the principal speakers for the meeting. Resolutions calling for the removal of all price, wage and rent controls are expected to be| introduced at the sessions, If approved they will be forwarded to |Congress. : All property owners are invited attend the meetings,

IT'S OPEN TODAY—Customized Homes offers a free look

SHERWOOD VILLAGE—Bu this spacious four-bedroom home

at their new three-bedroom houses today at 4706 E. 16th St. The interiors feature wood paneling for the walls, tiled bath, an n, cabineted kitchen and radiant gas heat. The price range is $ 0 te $10,900, . to scenia view, ~

But of course the main idea 1s owned tracts in the mile square! new tenant.

Agency, through the Walt Veen Co. The home has twe bathrooms; a large activities room ar

rss

LEASED—William Keller Jr, of the Keller Realty Co. recen completed the leasing of the old home office of the Empire Li and Accident Insurance Co. at 215 E. New York St. It will be the new headquarters of the U. S. Agricultural Department in Indians. Workmen have already started the $150,000 modernization and remodeling program for the building to meet the needs of the

Kenneth |

it ab 7219 Williams Creek Drive by builder of the

was sold to C, T, Fouworthy, president

PR 0

hota Mga |