The Key West Citizen Newspaper, November 15, 1952, Page 10

Saturday, November 15,1952 THE KEY WEST CITIZEN LIVELY REAL ESTATE MARKET $50,000 Sale Of Eastern Crawl Key; Summerland And Sugarloaf Lots Selling To Largest sale of the week was made by Jack Worth Enterprises of Eastern Crawl Key, consisting of 169.338 acres for $50,000. Buyer was Stanley Switklik, Trenton, N. J., according to a deed filed with County Clerk Earl Adams last week. Another large sale was that of Mr. and Mrs. Francisco Guito of house and land at Duval and Oli- via Street for $18,000. é Buyers are Mr. and Mrs. Law- Tence R. Dion, 2915 Harris Avenue. State stamps on the property now held by Retsel Realty Com- Pany, formed by Dr. J. Lancelot Lester, Jr., and his wife, amount te $36,900, This new company en- compasses some of the re: este formerly held under th mames of Dr. and Mrs. Lester. Mr. and Mrs. Byron Baird have sold to Mr. and Mrs. Peter Den- ger for $12,000 two lots in Mate- cumba Ocean Beach section A. Lamana Corporation has sold for $6,000, lots in the Parrish Subdivi- sion, Marathon, to Mr. and Mrs. Ralph E. King. Hudgins and for, $2,400 two fonso have sold its on Summer- J. Sigler, Mi thon. Hudgins has also sold for $1,100, Lots 9 and 10 of Sum- mer land Beach Addition tion Te fe to WZ Wy, a Se > Self-Cleaning < VITA-VAR HOUSE PAINT Stays White . TTIW) MEEPS THAT “NEWLY PAINTED’ LOOK YEAR AFTER YEAR! RICH IN TITANIUM and PURE WHITE REFINED LINSEED OIL! PHONE 270 Corner Fleming & Elizabeth Sts. ViTA- VAR $44 S Home Builders Mr. and Mrs. William J. Leonard of Seattle, Washington. Mr. and Mrs. George S. Curry have sold to Mr. and Mrs. Charles Pierce for $1,500, Salt Pond lots no. 1, 2, 3, 4 and 5 beginning near the northeast corner of Staples Avenue and Fifth Street and run- ning in an easterly direction along Staples Avenue 50 feet. A lease has been entered into for $3,600 a year by Charley P. Toppino and wife, landlords, to Key halo Shrimp Co. ty aa the southwest William Street and runs 2% feet northwesterly from the westerly corner of Caroline and the inter- section of William Streets. All buildings and improvements are included in the lease together with the right of ingress and egress from and to William St. over adjacent land owned by the Toppinos. | The rent is payable in advance }and runs through Ocotober 30, 1953. The five page lease is signed by Birkett Simmon, president of the Key West Shrimp Company. | Henry H. Taylor and wife of Miami have sold for $5,500 Tract 4 and 4A of Mandalay to Carl F. Sahlin. Héward E. Wilson and his wife have sold to Julio dePoo and Jose A. Valdes for $2,000 an un- i ird interest in Ra- aurant, Duval and ‘eet, and the residence in we rear of 615 Duval Street. Charles Anderson and wife have sold to Mr. and Mrs. Winfred R. Taylor for $500, land in Seaside. Mr. and Mrs. Floyd W. Davis have leased to the U. S. Govern- ment for $1,500 a year space on the southwest corner of U. S. 1 on part of lots 9 and 10, block 1, Parrish Subdivision, Marathon, Fla The lots have a one-story con- erete block stucco house. The land and building are to be used ex- clusively for postal purposes in Marathon. Henry L. Freking, Jr., and his wife of Key West and Quakertown, 44 | Pa., have bought from the Rimers- burg Coal Company, a lot on Sugar- loaf Shores for $1,000. Mr. and Mrs. Waldo Hernandez have given Allan B. Cleare, Jr., their attorney, power of attorney to execute a contract for the sale of a lot in Key West. The land is lot number 10 of Block 10 Key West Foundation Company’s plat number 1. Rimersburg Coal Company have also sold for $1,000, lot'12 of Sugar- loaf Shores to Mr. and Mrs. Charles M. O'Connor; and for $4,900 they have sold three lots of Sugarloaf Shores to Mr. and Mrs. Joseph |> H. Camphouse of Berwyn, Il. Mr. and Mrs. Harry Mitchell have sold for $1,000 a lot near Johnson Street and White Street. Craig Buys BB At Craig, Fla. R. W. Craig of Miami, Florida has bought four and one half acres of Bay Bottom for $4,000 at Craig, Florida. The Inter Improvement Fund sold the sul merged land to him in two par- cols. Bay bottem amounting to 111 acres bought in 1895 by Joseph Mounier was filed in a dupli- cate copy last week. The acre- age of submerged land is up the Keys in section 27, township 62, south of passage 38 east. VENETIAN BLINDS EXCLUSIVELY WITH The MAXWELL COMPANY Nationally Advertived | Your, New Beauty With ROLLACHEAD CUSTOM-MADE VENETIAN BLINDS @ Built to Fit Any Size Window! “Aluminum Stats Easily Removable! irene ammeter | lion last year, and is expected to Precision « made te fit your windows perfectly ... choose from decorator inspired colors ... either matching er contrasting tapes. PHONE US FOR FREE ESTIMATES The Maxwell Company 90? Fleming St. Phene 682 Town \Town With 5,000 Lehabitants Is Set Up By NATO In Germany By George Boultwood MOENCHEN - GLADBACH, Ger- many (#—A brand-new town, with over 5,000 inhabitants, is being built near here as new headquar- ters of the Northern Army Group, which includes British, Belgian and Dutch divisions and the Second Al- lied Tactical Air Force, whose fighter and light bomber squadrons come from the same three nations. The small British naval command which runs the assault landing craft on the Rhine apd small naval units in the North German ports also will be housed there. Staff officers from the three na- tions and the three services—land, sea and air—will work together as a single team. Bulldozers are clearing forest in the suburban area and road build- ing has begun. The project, slated | to bé completed by April 1954, will | cost about 34 million dollars. It | will be paid for out of occupation | costs already provided by the Ger- man taxpayers. The project is to integrate the | dr various service headquarters, now scattered through a series of small towns in Westphal The people of the little West- phalian towns, especially the health resorts of Bad Oeynhausen, Bad Eilsen and Bad Salzuflen, are de- lighted the military at last is go- ing. They want to get back their requisitioned hotels, bath houses, theaters and sports grounds. Bad Oeynhausen, once the fashionable playground of the Kaiser’s court, particularly resented the long mil- itary occupation. But the disclosure that the move was being made to a position west | of the Rhine caused adverse Ger- | man comment that the Allies were | “retreating” and preparing to give up all Germany east of the river | in case of Russian attack. British staff officers say that | was a wrong inference. The pres- ent headquarters, .only 100 miles from the Iron Curtain, is in front of most of the troops under its command. It is military nonsense, the staff says, to have the joint army-air command of three army | corps and 1,200 aircraft so far for- | ward. The new town will cover an area 2% miles long about three quarters | of a mile wide. As it is some seven miles from the city center, it will be completely self-contained with shops, a theater, sports grounds, a swimming pool, two churches and a school for 500 chil- en. Over 700 bungalow-type houses are being built for families of of- ficers and men stationed at the headquarters, as well as bachelor quarters for officers and barracks for soldiers, sailors and airmen. A hostel for 1,000 German employes is to be built and the planners hope that the German authorities will also put up houses nearby for married employes. Private Debt In United States Has Doubled Since World War II | jobs at one time or another, were By SAM DAWSON NEW YORK #—Americans are going into hock at a record rate. Private debt has doubled since the end of World War II. The rate of increase is the steepest on record. Corporate debt has climbed 82 per cent. Debts of individuals and unincorporated businesses have gone up 120 per cent. Together these groups, owing 141 billion dol- lars in 1945, now approach a debt total of 300 billion dollars. Add to this the nearly 265 bil- lion dollars that the federal gov- ernment owes, and the state and local government indebtedness of 27 billion dollars (twice what it was in 1945), and you have a total of around 590 billion dollars. Bankers say the private debt is not out of line with the increased national income, which was 277 bil- lion dollars last year and will be higher this year. In contrast, private debt in 1929 ‘was 161 billion dollars, nearly dou- ble national income of 87 billion that yeart Some bankers, however, fret over the dangers they see in the present situation. First, they worry about the rate of growth in private debt—doubled in the last six years, while in the six years before 1929 it rose only 40 per cent. And the last three years have seen the sharpest rise in debt. Pri- vate debt jumped 36 billion dollars in 1950, went up another 31 bil- increase by another 33 billion this year. Corporation plans indicate there will be at least a temporary post- election upswing in debt offerings —most of them to finance expan- | sion plans. Second, some bankers worry lest | something might turn the economy downward, slice national income, and put part of the private debt | in jeopardy. Much of the debt is | in the form of investment in plant expansions. Many hold that cer- tain industries now have much greater production capacities than present civilian demand justifies. It will take time, bankers argue, before the normal growth of de- mand, plus the normal repayment of debt, will work off any excesses in capacity and in corporate and individual debts. Individual debts have piled up from many sources. Home mort- gage debt increased six billion dol- lars this year, and more than that in each of the two previous years. Last year 13% million persons bought new or used cars, and about two-thirds of them bought on time. Financing by sales credit | companies and commercial banks | came to nearly eight billion dol- | lars. Television fans still owe an es- timated 750 million dollars on their sets. And TV companies ex- pect to sell a lot more on time next year. Total installment credit, up two billion dollars a year, now tops 15 billion dollars. And total con- sumer debts (including _ install- ment) are put at 21% billion dol- lars. But bankers also see many off- setting circumstances. They point out that an expanding economy al- ways brings with it a growth in private debt. Increasing eorporate debt is ac- companied by increased physical assets and inventories. Increased mortgage debt brings with it more homes. Higher installment debt also means more autos and more home appliances. With national income high, most of the debt looks sound enough. For Business 6 To 9 Months By STERLING GREEN SEA ISLAND, Ga. — Mana- | gers of the nation’s business, con- sulting each other on the business outlook Friday, reportedly have found it good—for the next six or nine months at least. Some members of the Commerce Department’s Business Advisory | Council, holding a four-day, closed- door session here, acknowledged that the Republican election sweep heightened their optimism. None of the representatives, with the exception of Gen. Lucius D. Clay, chairman of Continental Can company, would tell reporters any- thing for publication Thursday. Clay waved a hand toward the hotel’s assembly room where the council was holding its meeting and observed: ‘They all seem very happy to me.” | Others individually had voiced | belief that high rates of sales, »production and employment are assured at least until government defense spending levels off some- time after mid-1953. The belief was widespread that the GOP election sweep means a friendlier attitude toward business both in the White House. and Con- gress, and that this may mean a greater willingness to build, invest and expand business. The members made a point of mentioning, however, that the council, made up of about 100 of the country’s leading figures in in- dustry and finance, is non-political and still is advisory to a Demo- cratic administration. The indus- trialists here, about half of whom have seryed in key government asked Thursday to accept duties in the new administration if Presi- dent-elect Eisenhower asks them | to serve, At least three members—Clay former Mobilization Director Charles E. Wilson Paul G. Hoff- man, head of the Ford Foundation —have been mentioned as possible cabinet choices in unconfirmed Washington speculation. T. Albert Builds 000 CBS House & building permit given to Tho- mas Albert of 1512 Terrance Street |for the construction of a CBS resi- ; dence ‘costing $6,000, topped the list |of permits issued from the office of City Building Inspector Ray Knopp this week. Other permits included: Raymond Felton, 1418 Leon St., | repairs, $400. Waterfront Cafe, Caroline Street, repairs, $400. William Francis, Street, repairs, $200. Mrs. Agnes Curry, Street, repairs, $75. Paul DiNegro, 614 Francis Street, repairs, $200. Carl Fisher, 720 Whitehead street, | repairs, $1990. FFOC TO HOLD ASSEMBLY 1122 Fleming 129 United AVON PARK #—The Florida | Federation of Outboard Clubs will hold its annual general assembly here Dec. 7. J. Paxton Hill, pionship regatta will be held at Orlando Dec. 13-14. What bankers debate, however, is how much longer investment | and debt can expand without be- coming vulnerable. OF Stars president, also | announced the annual state cham- Eisenhower Aid By ARTHUR EDSON (For JAMES MARLOW) WASHINGTON # — It’s appro- priate that the first representative of Dwight D. Eisenhower to meet with the Truman administration should be a financial expert who will watch the preparation of the budget. For on no issue have the Repub- licans been as persistent as on the subject of government spending. For instance, a year ago Sen. Styles Bridges of New Hampshire said of the proposed 71% billion dollar budget: “If Stalin himself were given the opportunity to weaken America from within, he could scarcely pro- duce a plan better calculated to destroy this government. We are being asked, literally, to spend ourselves to ruin.” As the ranking Republican on the Senate Appropriations Committee, Bridges will be its chairman in the new Ss. Two years ago, when Truman proposed a 42 billion dollar budget to Congress, Rep. John Taber of New York said: “We can not maintain our lib- erties if we turn this money over to the President and the 8 schemers who surround him Taber will be the new chairman of the House Appropriations Com- mittee. More recently, Eisenhower him- self has said of Democratic spend- ‘We see an expenditure progra: that appears reckless be pe poe agant to the point of sheer folly.” Joseph M. Dodge, the Detroit banker who is Eisenhower’s liaison man to the Budget Bureau, went to work Wednesday. He said he would neither recommend nor dis- approve—just watch. But in view of Republican state- ments on government economy, dating back for 20 years, it’s a fair guess that his instructions are: | Keep your eyes peeled for any place where we can save money. In final form, the explanation of how a president thinks this country should spend its money each year adds up to a document the size of a metropolitan telephone book. And the money goes for such a variety of thing: Billion’s for defense, and ne ge to welcome visiting dignitaries to the nation’s capital. Billions for foreign relief, and $10,520 to fulfill a treaty made with the Pawnee Indians of Oklahoma. Millions for h government department, and $150 to remove the snow, if any, from the Supreme Court steps. The new budget—for the govern- Appliance Repairs And Service ELECTRICAL CONTRACTING Ketchings Electri 7s Years Experience . . Service Day or Night | All Work Guaranteed | FREE PICK UP AND DELIVERY P. O. 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