Indianapolis Times, Indianapolis, Marion County, 24 August 1952 — Page 35
y Ben Lawrence, eek, will be h. She is the E. Pleasant
Run Review and junior phomore year in the citystival with esentatives. [owe’s booster a member of subdeb club, ywe’'s and the shyterian nd is a memes h's Westmine She is also 16 citizenship vship and was airman of rT prom.
Monday . Ms
Section Four
Real Estate
The Indianapolis
Real Estate cans 3h 38, 52
Business” ... . visuviva3B
> = : . - Businéss Outlook—
Business Brains Are Poles Apart
By J. A. Livingston
WASHINGTON-—The telephone conversation with Her-| bert Stein, economist for the Committee for Economic De-! velopment, went like this: “Hello, Herb, this is Joe Livingston. ‘Haven't talked
! to you in a long time. What are
¢ you doing these days?” tion will expand every year at a| “I'm writing a report on the rate of 2 per. cent and maybe, { bad effects of inflation.” prices will go up a little faster. “I suppose you've seen Sum- The pysinessman won't have to ner Slichter’s article in Harper's. worry about profits, the worker He says inflation’s not so bad gpout unemployment, the labor! after all, In fact, he says it's jeader about declining wages and | good.” the housewife about housework. | “Yes, I've seen it” said Mr. The Slichterian’ world will con-| Stein. “Now I've got to write sist of finer and newer dishwashtwice as hard.” ers, refrigerators, washing ma1 knew exactly what Mr. Stein chines, vacuum cleaners, kitchens, meant, CED's big contributors autos and on down the line. are businessmen. CED always has, we can't afford long-run sta-| opposed inflation. But Mr. Slich- pity of prices, argues Mr. Slich-| ter is a businessman's economist. or “The cost would be “unneces-| Worse than that, Mr. Slichter iS|s3ry unemployment and loss of a member of CED's research ad- output.” Every time we had al visory committee. __|period of boom, we'd have a sub-! So not only must Mr. Stein|gequent depression to cancel out | write hard to prove Mr. Slichter’'s'the price rise. That would defeat case for inflation is unsound, but|yg in our ideological fight against! he must write twice as hard to Communist Russia. Our depres- | demonstrate that Mr. Slichter, as stons would be visited on Great! a member of CED's research ad- Britain, France, Germany, Reél-| visory committee, never had any gium, Brazil and other countries. | influence on CED's official views. The Russians would pounce on | rin CED can't brush Mr. Slichter that as proof that ! off. Sure, he has taken an un-doesn’'t work, that it orthodox position, but he’s in a unstable. position to be unorthodox. He
has prestige, He is a past presi- iq {55 strong these days to per- they want what.
dent of the American noma mi: price stability. Labor lead-|
iit
There's a new kind of
basically | loading vans and tenants scurry-
Association, has honorary de- ers constant! { And so, downtown living in al They're Satisfied ; , § y will be winning|__’ ! grees from five wniversities, In-|yigher and higher wages. That SWank apRitment House has be | Among the early tenants is cluding Harvard, where he now. .. be all right if productivity | COM a reality. This week end 63 ,,.. Mary R. Frame, owner of
teaches, and is widely sought asi oq lo” 0 Ttih a8 wages, [RDA ments were filled. People woot Park Home, who moved
a speaker at businessmen’s con-
{began moving in on the 15th, at ventions. | probably would bargain for more |
But labor leaders, being economi-
apartment residential building.
Words of Honey ; , (than increased productivity. Mr. Slichter’s pages in Harper’s| That would have the effect, if Will be a very heavy schedule of are honeyed. America is to be-|nrices were stable, of increasing Moves as more and more units come a 2 per cent nation. Produc- | workers’ living standards at the &re ready for occupancy. And ’ expense of everybody else. |{from an appearance of emptiness, . letting prices rise, we'd filch away he 14-story completely air-con-| these gains from workers and ditioned structure is taking on the Squslie the rise in the standard Personalized tastes of tenants in {of living. urnishings, | 7 | . The distinction of being the| To $800 00 Control Inflation first person to move into the I- | {shaped building goes to Frank = | y | Finally, Mr. Slichter says, |arens now at home in apartment (we've got to import more £00dS 1999 Mr. Arens also will operate ito help other countries. However, tne Essex House Restaurant and | I A es unless business is expanding and .qocktail lounge. Work is going on| |idigd Si Mg protectionists: lnight and day to have the two -tari advo ’t | | The weekly sales report of the| permit it. Salen VO tispaty veuty for business by Och! Associated North Side Realtors Admittedly, inflation would pe |} At le latest, co hit a total valuation as of the hard on some. However, a little! Shops for Tenants Aug. 18 meeting of $802,400. This less buying power for them is] But there will be several other was for. 63 sales. not so bad as a lot of unemploy- | shops on the main floor of the! Secretary Wayne WHhIffing ment every so often for the restipuff and brown brick building! Nsted the sales as follows: of us. Furthermore, Mr, Slichter which is faced with re EDGAR E. BRODBECK—35120 would control inflation at 2 per |For the convenience of tenants, Uiiversiiy- ave. : cent to 3 per cent a year — by|and any one wishing to patronize MARGARET EVANS CO.—239 credit restraint. {them wil be Fame Dry Cleaners WaWaiina Be lie's shally critical of the Modern Talking Picture Service,
HARRY L. ROBBINS REALTY [recent inflationary laxity of ConCO.—Two lots 8500 N, Meridian gress: “Just as the expanding Street. |defense program is about to raise M. G. GERDENICH CO.—Lot the outlays of government sub. | “POP. Proposed are a beauty shop
rt 4. Gerdenich’s Pike. |stantial (and another dining room priv-| 1 ( stantially above its income, the ately operated.
FORD WOODS & C0.—5230 government has terminated the Park Ave. representing buyer, controls on installment credit and! Construction on the $4 million and 810 N. Jefferson Ave. Irelaxed controls on real estate downtown apartment house be-| THE SPANN CO., INC.—1417 credit.” |gan in August, 1950, which makes first occupancy two years to the]
| Isn't that a warning for Mr. | month. Presently, the 26 one-
Belleview Place. FAY C. CASH—Lot, 46th St./Slichter and all of us? If we and Kessler Blvd. |don't try to control inflation now bedroom apartments are rented KNIGHT REALTY C0.—1203 with a war on, will we ever do and there is a waiting list for Livingston Ave. 2618 N. New|it later when it's accepted as a openings. Jersey St. and 4009 N. New Jersey national policy? Nobody kicks, Managing Director Paul Lampe, St., representing buyer. {Santa Claus. (however, said there still are some JOE BERGER—2110 E. 86th) What was it Leon Henderson, vacancies for studio and efficiency €t.. 8609 El Rico and 6143 Guil-\World War II price stabilizer, units. Rentals scale from $85 ford Ave. co-operating broker ysed to say? Oh, yes." A little in- to $103.50 for the studio or effi-| A. H. M. Graves. |flation is like a little pregnancy. ciency and $125 for those with BRUCE SAVAGE C€0.—3231 [Qops. bedroom. Keystone Ave., 100 acres W. 96th| Mr. Stein, you'd better write, The scaling, he said, is based St. 5882 Central Ave. co-operat-ifour times as hard. on corner position, whether the
Manor Court and 4534 Winthrop | Ave. WILLIS ADAMS—6129 Evans-' And partners Floyd Farley and out except for asphalt tile in the ton Ave. co-operating broker F. Ben Graesch fully expect the vis- kitchen and bath. The heating
ing broker American Estates; and] lot in Wellington addition, co-| | operating broker Robert ‘E. > Walker. P oO y A. H. M. GRAVES, INC.—3332| en ouse e 4 a o_0 HUGH TEETERS C0.—3828 In Speedway Addition A gl. WHIFFING—3821| The Farley-Graesch Speedway tion utility room and kitchen with Clarendon Rd., 2992 Moreland Court Addition will throw open its breakfast nook. St., 4993 Carvel Ave, and 2410 doors today for public inspection] (Concrete flooring is overlaid Wheeler St. from 1 to 6 p. m. with hardwood flooring throughC. Tucker Co. ; itors to like what they see in the system is the perimeter warm .airHAYNES REALTY SERVICE area of Ford, 11th and 12th Sts. type with pipes under the floor -—3722 Baltimore Ave. in Speedway City. For there they venting to registers under winJACK C. CARR, INC.—3660 will have open one of 17 contem- dows. N. Adams St. 1855 N. Audubon plated houses in the $14,000-price, The houses have double-hung Rd., 1028 N. Denny St. 443-45 N. pracket. aluminum windows throughout, a
Dearborn St., 1206-08 N. Tuxedo The one is completed and nine disappearing stairway to attic St., 690. E. 70th St., co-operating others are in various stages of storage space and automatic broker Fieber & Reilly; 339 N. nstruction. All will be fully washers and dryers. Speedway
Mills St. in Plainfield, 3560 ¥orest |, 4ccaped when finished. Ranch City sewers and water are conManor, 2340 Durham Drive, €O- type in design, they have the same nected to- the homes which have operating broker Fieber & Reilly; y.oi0 qoor plan but with five dif- 970 square feet of floor space. A
6920 Massachusetts Ave. 6925 (0 exteriors available. | concrete drive runs to each house. Park Ave. 930 E. Forest Blvd. ' house.
J i yi 21 Col- Perimeter Heatin 3312 Washington Blvd, 4421 Col eros) Ta The addition, built on about 41;
lege Ave. 402-04 N. Walcott St.1 we noses. on lots 85 feet wide 1g abo 3 y y ; . 3¢3, 5 UO: acres, has a total valuation of 4005 W. Washington St, 3543 ere My.
: 2 ir: o by as much as 150 feet deep, are $250,000. Builders Brouss Aves Si8 NN Sais of brick construction. There are Graesch and Mr. Farley as St 1846 Holloway Ave. 4127 three roomy bedraoms in each Farley-Graesch Building Co, 5 W. u , ; house, a living-dining room com- South St. bination, bath, storage room with After Sunday the homes will be outside entrance and a combina- open daily from 2 to 5 p. m.
Norrose Drive, 5018 E. 11th St.
and 123 Linwood Ave. eerie lpn
CITY VIEW—Essex House Managing Director Paul Lampe | looks out over downtown Indianapolis from the 14th floor.
Open Essex House To First Residents
‘Essex House at Pennsylvania and Vermont Sts. Dropping out of sight are the carpenters, tile setters,
- Jipitalism electricians, plasterers and others of the building trades. {The bustle now is of movers un-|— -
Another Slichter point. Labor ing ahead to point out just where 8nd abové and if located.on the desirable Pennsylvania St. side.
cally and politically powerful, | 2DoUt eight a day, into the 390-/rea50n for moving has a strange
| For the next two months there downtown noise.
SUNDAY, AUGUST 24, 1952
bustle going on about the
apartment is on the fifth floor
from 402 N. Holmes Ave. Her
sound to those accustomed to
“I came down here because it is so quiet,” she said in her 10th floor apartment. And it was quiet. Another, Mrs. H. E. Hastings, whose husband is executive secretary of the Associated Colleges of Indiana, said: “We just revel in this air conditioning.” Both make for fitting testimonials to the brochure issued by Warner-Kanter Companies, owners and managers of Essex House. Part of the pamphlet reads: “Life is pleasant at the Essex House—an Address of Distinction —where comfort is an accomplished fact.”
FOR SHOW-—Miss Virginia
Times Special
So, today Indianapolis has) fi ’ | downtown living in a swank Will lay a “living” cornerstone Along apartment house, Sept. 3, opening day of two-week convocation of the
Centennial of Engineering. Al-|
Mrs. Gillen Off To Flying Start tion, the cornerstone never was
In her first week after qualify- laid.
WEST-SOUTHWEST—Mr, and Mrs. H. E. Hastings have
furnished their apartment with California-Mexico-Texas decor.
Mider browses through homeliving magazines in building's tenant-teasing apartment.
Dedicate Cornerstone To Future, Not Past
: . , |a century, they will be allowed] NEW YORK—Builders can look CHICAGO, Aug. 23—Chicago’s to resume their biological activity forward to a construction total in| Museum of Science and Industry jf they have survived the test.[1953 that will come close to the]
the same lines, several
be similarly tested. Counting off the years will be
ture changes.
| Thus the thermostat will be set will drop, but no severe decline IJ. M urray, millinery; Terry! ing for her real estate license] Where traditional cornerstones to register once when Chicago's is foreseen, the magazine says. [the program committee, listed Storey’s food shop and a barber|nrs, Helen Gillen disposed of are concerned with the past, the temperature passes 85 degrees and| This year, private construction these organizations which have
lication. though the building dates back a thermostatic clock. It consists to 1893 when it was erected for|of two strips of metal that ex-/share the prosperity equally. E. Bauer, president of the Marion the World’s Columbian Exposi- pand differently with tempera- Public ¢onstruction will be higher County Residential Builders an-
Classified ........: .39-51
PAGE 37
‘times photos by Dean Timmerman. TIME FOR TEA—Mrs. Mary R. Frame has found peace and quiet in her 10th floor studio apartment.
READY AND WAITING—Mr. Lampe (right) shows prospective tenant just what a bare apartment looks like.
Outlook Bright | Penron [ we Through '53 for bieorge Craig -
Building Trade | Chosen to Speak For Builders
record $32 billion expected this
the kinds of virus and bacteria will year, according to Engineering] Republican gubernatorial nomi-
News-Record, McGraw-Hill pubs nee George Craig will speak at {the kick-off dinner for the fifth All types of construction won't annual Parade of Homes, John
[next year and total private work nounced yesterday. Cliff Krabbenhoft, chairman of
three properties, Museum stone will be dedicated then will not register again until put into place will total about $21 been invited to participate:
. including an 80-(to the future. Everything in it . acre farm in will be physicaly or biologically | Brown County. |“alive,” symbolizing the concern Mrs. Gillen is|with the present and promise of on the staff of the future. | the Hitch Realty| T1t is hoped that many of the Co., where she articles will provide answers for| will specialize inisome of the research problems suburban andlof today. Some of the contents]
Brown County will be radio-active, pulsing with| ” real estate. {atomic life, A specially bk Before she be- structed ‘‘clock” will count off
came interested not seconds or minutes but years in real estate as inside the cornerstone. a vocation, Mrs. | Gillen held several political positions. She is the widow of the| In the heart of the ton granite late Jack Gillen, former Demo-|block will be a metal box, wherecratic Twelfth Ward chairman. (in, surrounded by an inert gas,| helium, will be a number of! laboratory experiments designed | to prove or disprove somé of to-| day's theories in an experiment that will last 100 years.
Mrs. Gillen
Seeds of Long Life
Executive of Scripps-Howard
the temperature has gone below billion and next
15. In this way, it is expected
year's figure, Indianapolis Home Builders Asshould be around $20.5 billion./8ociation, Indianapolis Real
summer and winter weather, de- Residential building is expected Estate Board, Electric League of
spite wide fluctuation, will operate the clock within the stone. enough mortgage money for ber and Building Association, In{about one million housing starts. diana Gas Association and the
Chemicals Hit Sewer Systems
For the average home, hundreds, SON-| ot dollars are spent on materials year.
and labor that never are seen or
completed. Yet these items are extremely important to the proper functioning of a house. For example, most home builders never think about the house connections which connect their homes to the city sewerage system, That is, they never think about them until something goes wrong
{the magazine says. $1 billion in commercial building| T§ {should increase to at least $1.2 Tile Used for |billion.
{year will total a litle more than
to decline slightly but there'll be Indianapolis, Indianapolis Lum-
Industrial construction will be off Savings and Loan League of Inas more defense-stimulated ex- diana, pansion programs are completed | All these are cosponsors of the and may run around $1.8 billion Parade of Homes during National compared to $2.3 billion this Home Week, Sept. 14-21, Carl F. (Tony) Spickelmire and An increase in commercial work Tom Mutz are chairman and co-
‘thought about after the home is/Will make up for some of the lost chairman this year.
industrial construction. Needs| The dinner will be at the for offices, warehouses, and de-/Athenaeum Wednesday, Sept. 3 partment stores are tremendous,|/8t 7 P. m. This year's
Home Driveway
Home driveways may be made
$11 billion, should approach $12|0f quarry tile, if you want to get billion next year, according to/28Way from appearance of con-
Public construction, which this
Among the contents will be or until they have to dig up the the magazine. Military projects crete or asphalt, accoridng to
. Heads Committee small amounts of dry hydrogen | Times Special {and oxygen, in the proper propor-| NEW YORK—Edwin 8./tlons to form water, which should | Friendly, vice president of the react very slowly, According to New York World-Telegram and Some scientists, no reaction will Sun, a Scripps-Howard newspaper, [take place within a hundred years; has been named chairman of the others believe it will take place planning committee for Brand within that time with violence, Names Day—1953. It will be held In another sealed capsule will in the Waldorf-Astoria. be Oriental lotus seeds, traditionJohn W. Hubbell, vice president ally associated with long life. of the Simmons Co. and chairman When that section of the box is of the board of Brand Names Opened after 100 years, scientists Foundation. Inc. said Mr. will have more accurate data on Friendly will head a committee of Which to determine seeds germjna-well-known executives in manu-(tion qualities. facturing, advertising and public The Museum's purpose in. derelations. termining the contents of its cor-| Mr. Friendly has had a long nerstone is to provide the opporand varied career in newspaper tunity of conducting long experi-| publishing, which has been ments which no research labhora-| marked by his association with tory can afford the time or main-| five New York newspapers. He tain the test ‘conditions to eonas been vice president of the duct. | New York World-Telegram and Ticking Off Time Sun since early 1950. Before that,| Several varieties of biological he was vice president, general molds, including that used to promanager and director of the New duce penicillin, also will be placed York Sun. in the stone. These will be in a Brand Names Day—1953 will state of suspended activity. After be the eighth conference keyed eee to brand and advertising themes| to be sponsored by the Founda-| tion. It will coincide with the an-| nual meeting of the Foundation’s sponsors and the election of new officers and directors.
Insurance Benefits Up in Hoosierland
Indiana families received $23,-| 106,000 in life {insurance death benefits in the first half of this
Weather Stripping
year. This compares with $21,-|« . 386,000 in the corresponding Seals Against Cold period of last year, reports the
A new weather stripping, easily Institute of Life Insurance. This installed with a hammer, has a Year's payments are 101 per cent spring-wire flange with projecting [greater than those in the correloops molded into the sponge rub- sponding period 10 years ago, ber to simplify tacking it on. The When the six-month total was
‘strip is placed in position around $11.485000,
‘he inside of the window or door The number of policies paid off rame and tacked through 'con- because of death in the first six enient loops. months of 1952 was 21.884, comA ‘coating of neoprene, Du pared with 21,481 in the first half >ont’s chemical rubber, gives the of 1951 and 16,135 in the first weather stripping resistance to half of 1942, abrasion, temperature extremes, “The rise in death benefit paymoisture and sunlight. © Because the stripping is very rectly reflects the greatly is needed. to seal all around a door meeting the or window. Named Inner-Seal, the needs of the American people,” strip is also available in heavy, said Holgar J. Johnson, institute duly grades. esident.
ments over the past decade ai inflexible, only one continuous piece creased role of life insurance in|
| ov 2 family | protection bedrooms, nine closets, baths, utility room, :storage closet, attached two-car garage with another
lity room and a shower. Of Bedford stone, the house sills, There is a large ceilitg circulating fan, - »
| uti
front lawn to make costly repairs. Automatic washing machines, dishwashers and garbage disposal units contribute new and additional attacks on house sewers. These modern conveniences
! discharge high temperature water
down the house sewer In great quantities day after day, week after week. Garbage disposal units mean acids in the kitchen wastes. Then, too, every housewife frequently
{uses powerful toilet bowl chemi-
houseall of
cals and drain openers, hold bleaches, cleaners,
ywhich pass into the sewers from
the house.
Unless you have lines which
resist the attacks of these chemi-
cals, you will find yourself foot: ing costly repair bills.
account for most of the public Tile Council of America. This work now, but next year non- Is not a structural tile. It is the military needs, highways, educa-|‘paver” type of clay tile used for tional buildings and similar fa- outdoor terraces. cilities will increase. Federal, Quarry tile has had wide use state and local spending on such as flooring in factories where it projects is due to rise. must bear the brunt of heavy, The need for public facilities rolling trucks and other equipis great, but finance has held up ment. Properly installed on a building, the magazine points out. firm base such as concrete, this Now it looks as though money tile is said to stand up very well, will be available. For instance, | In the case of radiant heat coils a8 a result of Congressional ap- to eliminate hand removal of ice
proval on federal aid for high- i and snow, coils are installed in ways, road work should hit $2.5 the concrete base
billion this year and may reach rr — —— | Carr Sales High
$2.7-$3 billion in 1953. : t Jack C. Carr, Inc, is having Builders to Meet another banner year. To date, The Indianapolis Home Build: the office reports sale of 280 real ers Association will hold its reg-'estafe units for $3.25 million by ular meeting Tuesday at 6 p. m. his hard-hitting force of salesin Fox's Steak House,
men.
GRACIOUS LIVING—Here may be your dream come true in this house offered for sale at 730 W. Kessler Blvd. by E, E. Minney Realty Co. for owners Mr. and Mrs. Albert H. Paetz. A sym. phony of colors runs through the fashionably designed home. It has:dining room, breakfast room,
step-saver kitchen, large formal
- » ~
fe)
living room with marble fireplace, an informal living room, three
®
has aluminum window frames and marble