Indianapolis Times, Indianapolis, Marion County, 6 July 1952 — Page 39

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1 \ : ‘W 3 : ! M . : : A) g - : | e : | : me ms to Be % : Real Estate— Subdivisi Welco Cont H Price Range See ea : upaivision eicomes Lonremporary riomes ,, ' at N Levels ls to . 0s ° : e 9 iy Indianapolis folks have got more on their minds than ious oF jo . | . the heat wave, they're thinking about buying houses. Local it Uli ing S OWI ng realtors report a sudden surge in buyer interest despite the 90 degree temperatures. Jerry Pitman — “Sellers have Office phones are jangling more : ds at open become adjusted to today's lower 2 By DON TEVERBAUGH frequently and crow pe & : ime Real ae Slice houses have been surprisingly prices, they've cut their asking & TE + a “ 20- § LET'S FACE IT—Prospects for building low cost hous- large, especially when the 20-0dd| rice “AS a result, ads are pulling § a i i days of 90-degreq heat is taken iter Buyers. are still 100° per E ing for the nation's home buyers are dimmer today than; into . consideration. 0 en ayers are Pp 5 . i i ied! The big reason for the buyer ’ - o Gey. ave been at any time Since mortgage money dried interest spurt, most realtors, Fred aie fr he mo 728 Ea in fest containg? Faire, But they) es or te Tort TET OEE Er pny Lpuatiol X . Continuing federal controls over tell me it's encughv to build a 238 i rices have firmed. hiding and there is still a cong foot wide boardwalk completely | p | . housing credit make homes harder i The long awaited relaxation of| siderable number of businessmen {around the world at the equator.| ] 1.82 : to buy. This means that builders That's a lot of lumber—enough | (PWN Regulation X has had an effect, peing transferred here who need will trim their volume to avoids" puild about 214 300 average ® but in a negative’ way, several yoyges, Houses over 15 years of "0 ending up 'way out on the limb. sized homes. ’ 3 realtors pointed out. {age with price tags over $20,000 3% A The fewer homes they build,” p+ si int home. Buyers were waiting for the .. .. moving. ; : the greater their overhead. And, | never £0 8 10 re) easing of home buying credit.con-| : f course, the greater cost to you, °F t° an useful purpose. That's| trols. It finally came and when Guy Boyd, president of Jack C, d-TV . the home Paves YOU how much lumber we waste everylq the buyer saw how little he ac- Carr, Inc.— “Our volume is cone ah : When a builder cuts his volume, Y¢2F in this nation. i tually ‘got by the relaxation, he tinuing at about a $5 million pex he also reduces his income. So to| Lumbermen report we use 6.41 decided there was little to gain by year rate. It's been pretty cone keep it up where it has been, he Pillion feet every year to replaces waiting further, stant. Our new North Side branch : may start building more expen- decay ed lumber. And this is just Other buyers wanted to -deter- office, which we moved from 38th ; give homes which net him g/the decay that could have been, -mine how much “give” the mar- St. and College Ave. to 49th and _—. larger profit. . | |prevented by use of protective | ket had and now figure prices Pennsylvania Sts. has helped us KF Under present federal ‘restric- materials. : ~have dropped as much as they're move our North Side properties tions, certainly few builders are, With lumber selling at about np _ 3 ST tms Dote'by Willian =. Ontos Jt ) going to for the present. much faster. Customers like the going to be encouraged. Ao. bua STA per. thousand feet, our annuals a —— TE RATT ; 2 mes photo 4 ; . ” h h W d |” Walt Veon—"The buyer has| new office decor and our offstreet ? low cost homes, other than those l0ss amounts to more than $225 STRICTLY A DREAM HOME—The house isn't really there, home, here's 2 2eldifion designed for modern homes, the Wood- {come to realize that prices have parking.” . (million. : ind. i ntemporary stvled land Go ub addition. leveled off at a plateau. e a a ding In BR And this is a big reason why except maybe in your mind. But i yo y Plana e on Spor a yaiyle meta Ap Eo rh buyer is still shopping, but he ay Martin ar Qu salls buyer seems pointed at the used housing costs are high today. THINKING about building -y N rth i d definitely. Intends to buy atter he's Baw Adie ig he ooople tract sales -} : { 0 | p d es 00 ma ‘over, Hobise market aud a ot 3 os A Safe Playground ia home of contemporary de Wh at 5 the Tren | | Norman hammer. "We've. r=

estate activity for the next year.| LIKE THE MAN in the travelisign? If you are, in this ceived more calls on property re-

rT - - “All the world's a/gtronghold of center hall Co-| . cently than in the past 90 days. ? Thy: strong | i : 0 4 | ion I wasn’t looking for the upturn Raa Where and How? playground in the summer. But! nials and Cape Cod architec- | I) are arm rices I wat jooking for the uptum wHo SHELE xs phe lo ation’ Potentially one of the best play |tUre: the big problem is where to By JOHN D. CASE : pretty slow. This six months has . and design o ? y | !

¢ : Small Home Plan ...........41

Here

buy a house. So we're selling more houses per call than usual. Quite a few are going on contract. The big demand is for the $1000 down house.”

Floyd MeClanahan -

4 { : {build it. H { fee . 3 k According to a recent survey spots of all is right in your OWn “pit jot a problem anymore. | FARM OWNERS value. 15d ‘more highly than most} 3 Parcels peen the iggest in our histoly — 7 Sioticed rears activitE by the Tile Council of America, backyard. It depends on you. The Hall-Hottell Realty Co. have pig : ALLE Gil Carter—"Buyers are finding just tired of for to : it's pretty . much a 50-50 proposi- | The kitchen gets pretty hot a complete subdivision platted farm buyers. This is proved by the fact farm sales have) ; . — ices more firm. ; They ve leveled Justiiifed v Jalting Jo Jriess lo Son, [hese Soothing a rn para Just for homes of modern design. decreased and to complete a deal the buyer must pay an A on and Bore more realistic| ready, THe May slump educated BB Wo ae he a ee Dolor. It Tot It's the Woodland ‘Golf Club Ad- | crease in price. : {listed 43 sales worth a total of | prices are attracting buyers. We he sclise pretty well that hia ask- ’ * : - 564,500, chairman Guy F. Boyd are getting fewer counter offers|ing price was generally 3 ment, the floor plan and loca-|/too hard to build one. a The home pictured above was |e Thete are ow Shofce farms on), 4 number of farms for sale 18564.300, o airman. Guy vi i etting Tar or oo De Dora oar : ¢ tions of appliances in the kitchen. Or how about a stone pa e designed by the architectural He viat wu : ay, and poi and the ‘fact there are no. dis- Secretary Wayne Whiffing re-| Bruce Savage — “We've sold tract sales—they've been a life ~~ | The lord and master gets to|with overhead trellis to screen off| .. = of Lennox & Matthews [that a goo ; 3 tressed farms on the market. iported the sales as follows: |tewer houses this year, but we've saver for the market.” ee 1 make ~such Importat -Gecisionsyp, gun? and Associates, Inc, for Mr. |Sale, except to " | ‘There are fewer farm units in" Haynes Realty Service — 4922had a larger dollar volume than| Lot dealers indicated prices ~~ | he anting, ponoraower 10 A real favorite for the YOung-| ,nq Mrs, Richard M. Lenox. It [settle an estate. iii ithe state today because farmers primrose Ave. a Year ago. I look for activity were skyrocketing as lots became 3 buy, or heating System 10 in-/t0rs is a backyard wading pool. i€ built in a golf club addition |The highest per- ‘have added adjoining land to! Gerdenich Co. T14 Shepard St./to pick up with the settling of the more and e scarce. A stall. The ladies don’t care muchimy, don’t cost much and are| .¢ yepanon. {centage of farms . their holdings. This has been, J & IL Realty, Inc.—Lot 63 Wil- steel strike, The strike has got Iots to No Hors Desir able about selecting snow shovels OT easy to build. And if your yard (offered for sale {done because of advanced methods liams Creek, 3018, 3022, 3024, the public jittery. More houses as Will c burban areas suc j galen tools, titer. ett much of pretty good size, the kids gion, located on 116th St. alare from the i jof farming and improved ma-|3025, 3026, 3017 Priscilla Ave. |are on the market today, .but|jan Hills and Wellington Estates 4 3 u ® though. The Indies prefer Will like a teeter-totter or jungle quarter mile east of Ind. 431 poorer counties ; Chinéry, making It possible for| The Spann Co, Ine.—1515 8. there aren't any more desirable|gre selling for fabulous prices, i . : hs er . od PF Ihe EVM and sand box. (Westfield Blvd.). fof the Sate ori {one man to farm increased acre- Rishtand Ave: 2101.8, State Ave. homes for sale than a year 2go."| One Willlams Creek lot sold for 4 Ci ; f The subdivision is laid out'from the less} age. ) | ober: alker— ampton| Lewis -Haynes—"“Our activity!gs2 ooo ntly. ares : ¢ men Worry abou proper SEiting around a new golf course de- productive see- | The present income tax law is Dr. 2 * * |has remained constant all this $2 ound 12.000 Mah y eral for the mirror—fewer nicks from Prodlycers Group [signed by Wiliam A. Diddel, who! tions of the good held responsible for keeping a F. M. Knight Realty Co—509| year, ; Tt has been very good, samme of sob orir Senera 4 shaving. He a S . ; has designed Meridian Hills, counties. {large number of farms off the Forrest Ave. 405 Ketcham St. | we're considerably ahead of last$3000 and $10,000. It's prett 1 gi Build It Yourself : Picks Committees Speedway, Coffin. and other out-| According to © oH {market. -Many investors do not = Walt Veon Co.—5383 Evanston year in sales. Best prospects are much a seller's market, No \ hi d in the! ue of {sell their land because after pay- Ave. 6118 Winthrop Ave. co- . a . standing courses here an the Bureau of wn. Cage | | business executives . transferringbickering or bargaining over IF YOU PLAN a motor trip| At a meeting of the Executive -.... =~ lA gr icultural . |ing their income tax it is hard to operating .broker Gil Carter Co.; in and out of Indianapolis.” prices : , this summer, here's a gimmick committee of the Indiana Chap-| 1, you're interested, Hall-Hottel| geonomics Indiana farms are find another investment ‘that will|740 Sherwood Dr. co-operating v s you can make yourself and get ji Producers’ Sound, Ine, held will have a salesman out at the! now selling at the highest price Pay a comparable Fela, Oe Tack C. Carr, Inc.; 875 W.! . a lot of mse out of. at the Hotel Warren 8 week, 3dition between 11 a. m. and 4!in history. The bureau reports the e owner-operator has an en- . 'W t P Its:a floating ‘shelf for the|'r, C. Davis, president, named, ';,",.qqy, ™ present average dollar value of tirely different problem. Former-| rs ants k Frimuase) es in use asses ¥ § trunk of your car. You can make the following committees to help ri $1500 to $3000 Indiana farm land is $178.93 per 1¥ when an owner of this type oV “ A ¥. “" | ; g g ; A it out of Masonite or similar ma-| carry out the program of the or- Toes “acre. In’ 1940 the dollar value Wished to retire he sold his Taam yinIOSe hn ye 0 a eng On Its Defense Orders y { 1 - ’ { | 0 ax; od feria) a ht Hd dea) | ganization ten ne ET Most lots have about ag-foot was, $63.20 per acre and in 1950; Be he Tat broker . Gil or . CArTYIN » X Boat] d are about feet a8 90. . ' | raat : : - . : doesn’t get all wrinkled. | Woerner, chairman; V. K. Reeq- frontage am run from $1500 Fl oo ap Slsa bo. reflect the general COMme tax to pay, he would invest Caster Co 8150 Nerwaldo Ye. PITTSBURGH, Pa. July 5— contracts to large business for | To help keep them clean, wrap er. lopen lots to $2500 or $3000 for|inflation in prices and incomes! Sovernment bonds or ome; ES cavage Lo. Nhe widespread impact of defense this order.” ; . ope: pr i th A - lastic tablecloth and; Finance and Budget Commit comparable investment. {throp Ave., co-operating broker : them in 3 a ron tee—C. J. ‘Woerner, chairman; Wooded lots. There are 18 wooded during World War II, and the Retire on Farm Now ~|Margaret Evans Co.; 2130 Wyn. Subcontracting on industry was This subcontractor, he sald, had Scotch tape-st to the shelf, Homer C. Bish and Frank Cox. |l0ts and 33 without trees. (postwar period. In the past, land| Today this same owner-opera- dale Rd., co-operating broker underlined today when it was re- in turn spent 41.8 per cent of his Wasted Lumber ‘| Greeters and Reception Com-| The developers are permitting prices were slow to follow net ies

) ing American Estates Co,; 838 N.| | DO YOU HAVE ANY IDEA |mittee— Harold Bishop, chairman;|10t buyers to select trees for their| farm incomes, but in the past two '0T retires on his farm, having [vealed fat Sa) Gems yarticinaton

- | __lautomobiles, good roads, elec- Emerson Ave, [directly in a single government 4 , lots, free of charge, from a wood-/years land prices have advanced ®V | Fred T. Hill-837 B {directly in gle gove ? J ber three billion A. H, Jorgensen, Charles”E. Sher- » | tricity and everything available red T. 37 Berkley Rd. ; a how much lumbe man, Jacob ¥. Ferdon Jr. and land tract nearby. You get aimyuch faster than farm income. [in he city. He rents his land to! Gregory & Appeal, Ine.--3222 contract ‘awarded to Westing

choice of beech or maple.” The|

: ‘ { : house Electric Corp. V. K. Reeder. i is for moving! Prices Up or Down? {some farmer in the neighborhood N. Meridian St. co-operating : , Show representatives —- only cost to you is " { ) ices, has a broker American Estates Co. An analysis of an order for| Tevie Jacobs RE Cn pres Williamson | the tree and refilling the ele. ul are variows opitlonsiand withegreeent pH a vest] Norman br Han aes C0: ais electronic equipment distloged to * d Stewart. A restricted development, A 4 : ment than he would have if he Central Ave. 8025 Broadway. {day by E. T. Morris, Westing-| Joins t e oar lati and Publicity| home builders must submit com- prices. The people who think land is f id his income tax! Ethel B n 5824 F t/house subcontracting manager, | Public Relations .|plete plans before starting con- prices will weaken point out land Sold his farm, pa 8 inc {_ Jthel Dromert -— orest| 4 . — Wm. K. Lancet, chairman; Plete p {and invested the remainder, |Lane {showed 44 per cent of the $16,-| Of Morris Plan Reily G. Adams, Howard: Dear-| struction. is too high and is due to -come! ’ | 9 Xe ’ 4 |

1 down, offering no reason except Investors who seek to broaden! Wayne Whitfing—1029 W. 20th 965,288 value of the contract had Election of Tevie Jacobs, head dorff and Ralph Caylor. »

{ | , 1 ./been passed along to subcon- . ithe feminine reason, BECAUSE, their holdings and protect them- st. residential property in Green-| i of the Jacobs Advertising Agency,| Joint AIA,PC Committee —| Indiana National They also say history always re- S¢lves against inflation, turn t6\wood, 405 W. 324 St. {tractors and suppliers, to the Board of Directors of In-| Sam McGarvey, chairman; A. H.| | peats itself and land prices move! 800d farms as an inflation hedge. John Max—ILot at 91st St. at| The analysis revealed that 68.5) dianapolis Morris Plan was an-| Hollinger, Leslie Cain, E. C. War Tells Its Story in cycles—and we are now at the Ine high national income means Haverstick Rd, co - operating|per cent of this was allocated to| nounced today by William L.| rick. 3 Ll top of the cycle in price. higher farmer income, which In|broker Harry Robbins. |“large business,” with small busi-| Schloss, president of the institu-| Membership. Committee—J. L.| S {turn means higher land prices. | Jack OC. Carr, Tne. — 2221 N./néss firms—less than 500 em-| Sen TO Da age Lit. In New Booklet | This is a highly debatable

.| The present income-tax law Talhot St. 4002 Ridgeview Dr. ployees each-—receiving the retle, Ray Starr, John J. Robbins 1,4iana National Bank has putter. Drponents Somtend ne gives an advantage to the farm-'1218 N, Wallace A Rock- maining 31.5 per cent. and W. L. Johns. {forth a warm hand of welcome Wl cumstanices are the same. It also OPerator who produces breeding wood Ave., 2735-37 Guilford ‘Ave.,; “As a means of showing the Program Committee — DOR yyginegs, It's in the form “of a {pointed out demand is weakening, !1Vestock, in that his gain is con-|2194.96 Carroliton Ave. 3145 ‘pebble-in-a-pool’ effect started by Stackhouse, chairman; H. W.i34'page full color brochure that since the rate of price increase sidered capital gains. Census fig- Kenwood Ave, 727 Carlyle Place. our subcontracting activities,”

Stewart and C. C. Spriggs, co-| tory, mostly in pic-| ures. show we have a net’increase | in i lsald Mr. Morris, “we iso decided chairmen, Carl Most, Carl F. tells their story, y Pic“ has slowed down to 2 per cent ls ;

i . | {in population of approximately! . |tures. {thi ter, wher for { to study the subsequent subecon : | Sptcheimier and 8. Yilnite, ah They czll it “The Inside StOrY | errr og 1951, ous tor the same 7000 peop Jepes 3a. Wits this nF HA Mor fgages racing moves of the particular [ore trator ufacture: : ing” and it will ‘ a gion, we firm to which ‘we had allocated | organization of manufacturers of °f Modern Banking" and 8 per cent. They also. contend the rm to w

| hort of food except for change ‘ . | {be mailed to some 14,000 various price is too High for speculation’ . ro er ent {the largest share of the contract | quality building products. -C. P bank clients, business associates, and the land boom has reached from porse power te machine P {~-73 per éent of our total sub-

Mr. Schioss reported: to the semi-annual meeting of the Board Morris@h Plan assets were = about 14% million at the close of business June 30, an all - time high. During the

| Woerner is, retiring president.| . power. This released millions of fir tratar——————— |Other officers of the Indiana/Stockholders and other leading its peak. Also weakening com- bushels of grain that would have In One Month

’ | j » nation, {modity prices during the past Tew : | past six months ag. Jacobs |Chapter are Ray Starr, vice pres-|Panks in the na lorial's business OT Tro io nes of de. Deen consumed hy horses and| Mortgages insured by the FHA Charles K. Hall capital and sur- ident; Homer Bisch, treasurer, Indiana Nat p mules to feed meat animals forin Indiana during May dropped lus of Indianapolis Morris Plan and: J F Cantwell secretary [statement for June’ is their big- crease in farm costs, and pros- human consumption. In addition zpout 25 oe A app d J : Ww | V pu inereased-by-more-than one-! 7" |gest ever made. . The bank, which. pects that a Korean armistice there are in diana. some: Rone ahout Eo irom ad ons alt eon third mililon to a total of §1,350,- Real Estate Board {is _the largest in the state, lists would temporarily lower commod- |; oricultural demands which 80uld year ago. : | Charles i. Hall. former’ part. 000, Mr. Schloss reported. oa sta $27,149,622 in capital, surplus and ity prices. : |influence the price of land. These > yy. wove. o tthe slack wash JC arles K. ' p Passhook savings and Invest- Pl St Outi {undivided profits. Also reported, Initial Costs High {include land to be used for super-| wever, some 0 Bal “ner in the firm of Hall-Whistler at Certificates exceeded 11 mil-| ans ag u ing | | > cd taken up in uninsured conven- - me } ’ - ’. - ’ >

June 30 and loan! The 12th annual stag outing of|\n the statement is $387,065,579| There are fewer buyers who can highways, industry, oil leases and Realty, has joined the sales staff lion dollars on June é&

} : : & 3 | tional mortgages, as indicated ba and finance outstanding were the Indianapolis Real Estate/in deposits and §296,809,275 in re- 5rorq farms at today's prices, be- the demand of 5 to 10-acre home the May figures for Marion of the Walt Veon Realty Co.

a {Board will be held July 31 at the|Sources. {cause of -high initial cost of the!tracts within driving distances of C tv. * i | Mr, Hall prevmore than 117; illo Sollars.| Moose Todue Conty Sone] ~———————————— 1 lland, and. the cost of machinery our industrial centers. Good roads | ony of 1190 were recorded|lously worked both record Joe rving one out| Chairman Albert Paetz an- Not for Children |and livestock. This stops many and electricity are encouraging : Morris Plan - |

{nounced today. of four. families in Marion Coun Included 2 the fun will be alll 45 put away is marbles, Ameri-{the fact farm credit has been try place and work in town, {Apel ang Ae May o alljabout four years ty, he said. be dvertis- the chicken you can eat, baked sgn Machinist publication, points tightened and the interest-rate; Farm land represents actual’ Bag lexperience in the Me. Jagohs has is Pla n since Deans, potato salad, coleslaw, ou; They're used in metalwork- has risen .5 per cent this past|tangible security, regardless of | ype od rded in the count field, He will ing counsel for Moe n Army corn on the cob and all sorts of ing to make big pieces slide!year. Most leaders now require|its dollar value, inflation, war or a oe Moby gu! Ap . Y | specialize in sale en Pi and estab. other food, |easily along the bottoms of purchasers to have larger down-|deflation. Land is with us forever. dUring May totale Ea

jof North Side cn |pared to 1666 for April and 1685° lished his own advertising agency.| Reservations must be made ,eaning tanks, and in the same payments also. [pared lo or.Ap residential prop-

: He is author of many magazine arly: | way, to slide coffins into crypts., The probability of over produc- Chemical Decade a year 30... erties, articles on. advertising. Wy ~ | Marbles help produce the proper tion and surpluses of craps and) Chemical output could rise as de Garb The Veon comIn 1942-43 he was editor of tne Everything Turns Green {finish on copper plates, and!livestock caused some to believe much as 75 per cent between 1951 Eau e Garbage {pany is presently * Camp. Atterbury newspaper and/ If everything looks green to| gleam in safety highway signs. prices will be lower. This presents and 19614 compared with. an esti-! Now there's perfume: for gar- developing For- Mr. Hall later was a combat area corre- you these days, there's nothing And grownup men toss them into/the case of those who believe mated 19 per cent rise in indus- bage pails, Chemical Week pub- est View Estates, spondent for the Army. At one wrong with your eyes. Chemical fish hatcheries, where, for reasons farm land prices will decrease in trial production, Chemical Engi- lication, reports. A new product,|’ mile west of Spring Mijl Rd.

51./firm and has |

{for the Veon One childish thing adult&” fail|would-be farmers. There is also|People ‘to live on the small coun- | nere, Whe 115 to to 1081 for

time he was a copy editor on the Week publication, reports that at the magazine doesn’t pretend to|the future, |neering publication estimates. in cake form, is attached to the on 64th St. Eleven homes are Indianapolis Star and worked for'least 94 different preparations understand, marbles stimulate] Those factors which tend to Both:figures bar all-out war or'lid and repels flies and roaches underway and 23 of the adthe Associated Press. now contain chlorophyll. | spawning, . push land prices up include theleconomic crisis. in addition to perfuming the air. dition's 48 lots have been sold. |

AUGUSTA—Wilbur Bassett of the Allison Realty Co, sold - this -new home at 7407 N, Mi higan Road (U. S. 421) for the Art-

. COLLEGE CREST AD

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bedroom home is Walter E. Whitehead, « New owner is Clifford Leggett

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Laat. 3 oh ty 2 de § 4 di aaa

¢ ities at $44.16 million were 69 per

home of | | DITION—Harry Knight of the Knight Realty Go. sold this attr Les Engineering and Construction Co., Inc, New owner of the two- six.room rancho at 9551 Cohen Ave. for Maj. William B. George, “I Rathi closet osets and

total contract value as follows: 36.7 per cent with large businesses; 63.3 per cent with small businesses.

“In all, 254 large and small businesses aided this single Westinghouse subcontractor in meeting the requirements of his share of the total original contract,” said Mr. Morris. “A total of 381 firms participated directly in helping Westinghouse fill this one defense order.

“These figures clearly point up the importance of small businesses in meeting contracts calling for defense production. There is a partnership existing today between large and small firms without which rapid output of de- : fense products would be impossi- : ble”.

May Awards . J Top April CHICAGO—The area including Indiana, northern Illinois, Towa, Wisconsin and northern Michigan

had construction contract awards

in May totaling $180.56 million— 7 per-cent more than April and 8 per cent more than May 1951.

R. H. Ray, regional vice president of F, W. Dodge Coxpg. said the five-month 1952 total was $648.43 millilon—8 per cent lower than the comparative 1951 figure, i however. * Non-residential awards in May were $46.73 million—28 per cent less than April; residential awards of $89.66 million were 16 per cent higher than April; public and private works and util

cent more than April. Five-month individual totals compared with five months last year were as follows: Non-res-idential down 25 per cent; resi: dential, up 4 per cent; public and private works ‘and utilities, up 7 per cent.