Indianapolis Times, Indianapolis, Marion County, 15 June 1952 — Page 38

aie, ARTA -

COLLEGE CREST—This attractive Bedford stone rancho built at 9445 Central Ave. by con- | tractor Howard Hockett was sold recently by John Sanders of the Walt Yeon Co, The new owner is Frank W. Guthrie.

Two Old City As Stewart-Gausepohl

C. 8. Ober, president of Stewart's, Inc., 44 E. Washington St. today announced the merger of two of Indianapolis’ dldest firms, Stewart's, Inc. and the E. J. Gausepohl Co., Inc. The new firm, Stewart-Gause-pohl, will be located at Stewart's present location, with the Gaugepoh! store operating as a brarth at Monument Circle until July. Stewart's, Inc, has been in con tinuous operation since 1833-—just 17 years after Indiand became a state, The dust of Washington St. was thick and the sun was hot, when, on the above date, two gentlement from Cincinnati by names of Hubbard and Edmands made known to the 1000 residents of Indianapolis that they were opening a store to sell, of all things, books. That early store didn't grow too fast; apparently; “The Travels| of Peter Farley” and other cur-| rent titles were less attractive than salt and harness and an ax or two. After one year of oper-

ation, the partners sold to W. E./dlanapolis and upon completionithe type of exterior architecture.

Dunbar. Other sales of the store followed in relatively quick succession.

Stewart Took Over In 1854

In 1883 it Was organized as West: & Stewart... Samuel Merrill, a partner in the West & Stewart firm, withdrew to. form MerrillMeigs Co., later taken over by Samuel Merrill Jr. The next year William Stewart and Silas T.! Bowen bought the old bookstore! outright and it became BowenStewart & Co. continuing that way until 1885 although Mr. Stewart died in 1880. In 1B85 Bowen-Stewart merged with Merrill-Meigs . to form the famous Bowen-Merrill & Co. on] Washington Bt., where Wasson's is now. It was on St. Patrick's Day in 1800 that one of the city's most disastrous fires destroyed the Bowen-Merrill store. Ten fire. men were killed outright, 19 injured and two died later. The store reopened on the south side of the street at 9-11 E. Washing-| ton St. In 1903 the company changed ite name to Bobbs-Merrill Co. with W. C. Bobbs, who had been associated with it previously, participating. Then, six years later, William Kerfoot Btewart, Yale

Firms Unite Pointers for Building Your o The new Vik gem col New House

8t., suffered another fire and

Business Outlook— An Emergency No Longer?

Kyle G. Herder

Joins Pitman Co.

Kyle G. Herder has been pamed to the sales staff of the Jerry Pit-| pyding your dream house can man Realty Co. Mr. Pitman an- pe a real nightmare if you don't sounced this know what you're doing. Twenty-three out of every 25 homes built by private individuals cost far more than the original

Building a Ho

By J. A. Livingston

The United States is getting ready to live with the “cold war.” The steel strike is evidence. So is Secretary jof the Treasury Snyder's announcement of $3.5 billion of {new financing. So is the further relaxation of Regulation X

{for the General

Jule R. Von Sternberg warns. .. Builders and architects are usually blamed for this sad but common state of atising. But . i much of the increase cos {a manufacturer's Su above the original contract is the . ES owner's own fault. A contractor cepting this posi. id flis a businessman, Von Sternberg

Electric Supply {Corp. and was

jon home financing. ) We've lived so long with the the price were higher, banks wonld to be an emergency. ” 'at 1% per cent. The steel strike will interfere But, after the new financing, with defense production, cause what? Will the Reserve feel unemployment, delay shipments obliged to support the market? of supplies to North Atlantic Or will it let it seeks its own Treaty Organisation ' countriesilevel? That will: be the test. and create propaganda for Stalin,| The Reserve Board has a dual Yet, with all those disadvan- role as a central bank. It must {tages, the Supreme Court denied facilitate Treasury financing and President Truman power to regulate money and credit. In seize the industry and Congress facilitating Treasury financing, it feels no compulsion to pass must avoid pumping out unlimited seizure legislation. If tensions reserves to banks. That would be

est

moved in January, 1913, to its present location at 44 E. Wash, ington Bt. George T. Parry made purchase of the company in January, 1933, at which time the name was changed to Stewart's, Ine. In June, 1945, control was acquired by C. B. Ober. The E. J. Gausepohl Co. was organized in 1804. That company has sold luggage, leather goods, handbags and gifts under its present management. Mr. Ober states the merger will be an expansion for both. firms and that remodeling is being done which will give Indianapolis one of the finest stores of its kind

in the country. The entire build- through a good plan service er

ing is presently having interior work done, including the installa-| tion of the most modern air con ditioning equipment.

City’s Largest Bookstore

Stewart's operate one of the largest book departments in In-|

of the remodeling, the book de-| partment, equipped with the lat-| grey steel library shelves, and the luggage department will pe located on the second floor, Luggage will-be shown fn a most. unusual and attractive ;manner.

The Business Furniture Corp, has been given a contract to dec-| orate this department in the lat-| est Guild colors of carpeting, draperies and wall treatment. Gausepohl's leather goods repair shop will be a part of the downstairs store and will be re-| equipped to repair luggage, trunks and hand bags and to install new zippers on coats and briefcases.

An enlarged greeting card de-partment--personalized greeting cards and engraved ‘cards, together with a gift-wrapping department will be located in the downstairs store. A new department, the gourmet shop, with a complete line of herbs, peppermills, copperware, skewers, hot and cold barrels, barbecue chef books, birch and mahogany bowls, braziers and! other outdoor oven accessories will also be a part of the down. stairs store. New fixtures will complement the expanded pen, commercial and social stationery

home? Here are a few ideas from the experts. Good houses, just like good clothes, must fit you. The real value of your new home, they say, is not how much money you put into it, but how much good living you take out. To get the most out of your home, here are a few poiters: List your family’s requirements for housework, group and individual activities, hobbies and storage, and plan your home around these needs. ’ .

No Job for Amateur Hire an architect, buy a plan

buy a new home already built, but don’t try to build from your

| Thinking about buying a new

with Russia are part and parcel to repeat the error of the preof the times, we can’t adapt our accord era, when the Fed became institutions to the tensions. (an “engine of inflation,” and was steel an “arm” of the Treasury. to Tt Puts 110 and a dispute > | Ultimately, Mr. Snyder may get Taft-Hartley Act is invoked, the around to long-term financing at union can be enjoined for 80 the market price, pven if it's above days. After that, workers would 214 per cent, the rate which he be free to strike. The Taft-Hart-|has clung to ever since he became (ley procedure won't settle the Secretary of the Treasury. That |dispute. That's left to collective Would be coming to terms with ‘bargaining—without government fhe post-war era.

imposition of terms. The Absorber y | Snyder's Less Tense The resigned reaction to the

Congress’ rebuke to Truman steel strike and relaxation of conwas matched by the money mar- trols reflect the lack of tension ket's rebuke to Secretary Snyder in the economy itself. If the de(when he attempted to raise new fense effort had created real money by offering a 2% per cent shortages in manpower, materials, non-marketable long - term bond. | and machinery, the entire country He received only $450 million of —including its jurists and law-

lcomplicated an undertaking to be

lance is always a drug on the

own plans. A home is far t00/¢,q pion potential new money,

or less than 10 per cent. And $132 million of the new money— about 30 per cent — came from Treasury trust funds. Mr. Snyder promptly—and unexpectedly—announced an offering of $3.5 billion of intermediate

designed successfully by teurs. Decide first what you want inside the house and then choose

ama-

Don’t force your plan into a preconceived exterior. Use quality materials, for using giple for purchase by banks— inferior ones 1s usually false econ-|price to “be determined by going omy. It costs less in the long run, quotations for government issues. for instance, proof tile floor. and wainscots initerms of the market. the bath than to have to refinish] He's not arguing—as BoNhas— it every year. {that national defense "will reRemember that simple, rectan- quire great amounts of borrowgular houses are cheaper to build ing, that he must therefors pay than rambling, irregular ones, (a low price, and that the Fedleral Reserve Board must mainConsider Selling ltain any price he sets. He, too, Always consider the possibility has decided to live with the of selling. A house that is poorly tension.

designed or freakish in appear- The Dual Role

market. Check the hall space. small house, excessive hall

means bad planning. N | halls make furniture-moving difi-|367ve Roar. It Will Es the Re cult. | Pay particular attention to the | workout. kitchen. Wall cabinets low enough, it Reserve will have to help that the housewife can reach at |i ane. In addition, it will have to least two shelves, easily cleaned n..i ie banks, if they subseribe drainboards and countertops and heavily to the bonds, with regood arrangement of range, sin™ quired reserves. and refrigerator indicate good At the moment bank reserves planning. are tight. That's indicated by the Plan a few large areas In the recent price at which banks have home rather than a number of borrowed “federal funds” from

bonds, fully marketable, and eli-|

The new financing will test]

| . In a the relations between Mr. Snyder ‘ _ epace 40d William McChesney Martin/| [OJFsRUE?Y oniveuen, || arrow JT. chairman of the Federal Re-| wire o Ge. APoLANCS” ||

|makers—would be minded. Instead, the country is (absorbing the emergency rather {than being absorbed by it. Despite defense, fewer workers are engaged {and mining today than last year. | However, employment in government, finance, trade, transportation, ete., is slighfly above a year | 40. :

Korean emergency, it has ceased porrow directly from the Reserve 5 or

emergency

in manufacturing

We're able to put more man-|

{than into production. No wonder {there's little fever. You don't feel {you're going to a fire unless you're |running!

| If the economy is that free and |

(easy, the need for controls over wages, prices, credit, construction {and intervention in steel 1s {obviously lessened. Unless, of |course, a prolonged strike tightens |everything up again,

o LOOMING | © WAIL MATERIALS

{12681 MERIDIAN +1.8993

to. install water- Thus, he finally - accepted the hours into service occupations

warns in the June Catholic Diholds a law de- Mr. Herder | 00 not your personal benefac-

: itor. He said: The expanding Pitman agency > now has : I at of Mr. Her-| “As expenses mount, the builder der, Ray Kendall, Bob Burton, 2nd architect become rascals of Jerry Morehead and Mrs. Alma 'he deepest dye. Though the Van Vaector, headed by Manager OWner will not admit it, he is payTom Gates. . {ing the penalty for having rushed The firm expects to reach the into construction before he was half million dollar mark in 1952'sure of what he wanted, and besales volume by the end of the fore he knew what he was going month, Mr, Pitman said. to get for his money.” ;

i SAR RE OR, TRA

estimate, often thousands more, |

I SP SB ah

SUNDAY, JUNE 15, 1953

me Usually

Costs More Than Planned

colors cost more than ready-mixed paint. : And, “broom clean” doesn’t mean clean enough to move in. It may take a week's extra work and money to get house and grounds really clean, he adds. Builders’ bids are based on plans often purposely left incom. plete to allow the owner to make his own choice of plumbing fixe tures, heating equipment, wall. paper, wood finishes and such. Unless the owner comes to an agreement with the builder on all these items, he will be confronted with a sizable number of “ex. tras” when the time comes to total up that final cost.

Employment for Men The Boettcher Employment Service announced this week that it has opened a men’s department in addition to their employment service for women. The firm has offices in the Goodman Bldg. -

esa

Heavy Building Down a Little

Two of the best rules are: Make | your changes before you build] and put aside a good 25 per cent| of the building cost to cover un-|

NU-WA

| Free Estimates—Easy Terms

NEW YORK, June 14—Con-| In a list of 30 typical “extras”

tract awards for heavy construe-| tion, reported by Engineering

amounted to $126.5 million, 6 per cent above average, but awards for private construction totaled only $117.4 million, 13 per cent under. Public buildings, with a total of | $52.4 million, led all other cate-| gories this week. Industrial building awards amounted to $51.8 million, down 6 per cent. Private housing awards were $46.6 million, down 18 per cent. On a cumulative 24week basis, private housing awards now total $1.35 billion, | 41 per cent above the same period in 1951.

Sometimes you'll agree, sometimes not, but you'll always enjoy | Robert C. Ruark. Five times weekly in The Times. |

| LAWN or FACTORY

NO DOWN PAYMENT Litetime Property Protection MATERIALS ONLY or COMPLETE ERECTION

IM-5013

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foreseen extras.

Von Sternberg warns the neophyte

builder what to watch for. Costs ATR ITE News-Record, added up to $243.9 for hardware mount, someone has i million, for the week—4 per cent to move the trees, éxtra outlets under the average week to date. cost money when they aren't fig- | Awards for public construction ured in the wiring plan, decorator’

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graduate and descendant of the and gift departments on the first Small rooms. Big spaces can be one another—1 11/18 per cent. If wh 4 By Un Stewart of 1854, bought the store, 3d P used Jor & variety of activities, [—— ig 3 NEW YORK changing the name to W. K.| A new entrance to the build. but small can not. Netional o } 3 N AE +] Y 0) k D | M 8 . R CO trading turnec Stewart Co. ing will include large display win-, Build with furniture placement, SICKLE BAR MOWERS C during the pa dows topped with a neon sign. 3 Runa. Pian you ay B34 For All Types of Vo hall LA Tel ot TAibot! 3315 sharp rise in t} Officers of 8tewart's Inc. other that a door opens agains e a —_—_ TAR b oe TERMITES than C. 8. Ober, are M. L. Ober, sofa, or a chest of drawers wou Weed & Grass Mowing | . - - - 2 ACRES witdine ligt treasurer and Mary E. Ober, fit under the window where you De @ AN AYA 74 . al, 8 ag Yount SOCTSIALY. a iam Big Job | Gz Sieh On Bus Line—45 Minutes From Circle a er / A -DO-IT TR" ne i - Railroad. a Available BUILD YOUR OWN 2. Short Time New 3.bedroom stone home. Kitchen, dining, pine den, ages and Rn

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But the big in issues not inc ages. Some of of 6 or 7 points the specials cer preferred issue: to be attracting The main list ranged between in New Haven loss each in Uni lantic Coast Chattanooga a up more than Alleghany: Cor Georgia Centra points. Georgia Georgia Cent was strong—up There were rey officially, the St cisco was neg over Georgia C Among the ¢ where in the list cal, which gair the week; Amer Barber Oil, up torola, up 1% up 15% points, up 4 points. Steel issues sl motors held ste tiee had loss fractions to m as profit-taking group. In the highperior Oil close up 39 points Harlem “at 505 American Te “plished the ra issue of leadin ket in turnove the week of was quoted ex: dend and on th a net gain of 151%. Northw

LT ILL Unexc

80 Manufact