The Key West Citizen Newspaper, January 16, 1954, Page 6

CBS Home Is Bu ilt AtA Total Cost Of $11,000 One of Key West's newer residences is the home of Benjamin Berman, 1316 Rose Street. A feature of the new home is the big Florida room. It is 11 feet, Sinches by 18 ding Permit | Applications Continue To Lag Maybe it was the cold weather, but city building permits were very slow this past week. Only! ‘eight permits were taken out. However, one of the permits was feet, 6 inches and is walled on two sides by jalousies. The $11,000 home, built by the CBS Construction Co., Inc., has terrazzo floors throughout. The same house with asphalt tile floors costs 25 less. Both prices are! without the cost of the lot. All the rooms in the home are! spacious. The living room i feet square; the dining area is 8/ feet by 10 feet, i This. Rock » Benjamin Berman Home On Rose Street Features Large Florida Room Of Ours: ~ By Bill Gibb ft athleticall ly inclined, is water-skiing, ten-| , for the more) Last, but not least, there is the wonderful opportunity to simply] for $30,000 and another for $10,000. T. J. Crutchfield, 806% Thomas St. will build a $30,000 conerete/§ jblock amd stucco motel and apart-|: ment house, The $10,000 permit was issued to A. H. Ramos for re-' [pairs to the Southernmost House| |west lot to Nathaniel S, Russeillat the foot of Duval St. for $5,000, Other permits were: F i THE NEW HOME of Benjamin Berman, 1316 Rose Street, features = large Florida room and terrazzo floors throughout the house. It was recently completed by the CBS Construction Co., Inc. ae i Bui 38 _ Warranty Deeds On File Show 3 # VENETIAN BLINDS in All Shaper and Sizes In front of the ufility room is a big car port, 10 feet, 8 inches b a3 oy he rH tar and gravel. » One wall of the kitchen is taken 1411 Patriciajup by cabinets. The closets all have sliding doors and above the zh ite “holiday, warranty deeds on file'sons for $2,000. . Sadowski and Son sold two lots Saeed Seen ares Shovel 9) Tce Venice to Hare Ao Streets, shed, $400. =e 'son.for $3,000, | . Sadowski and Son sold five Lit- fle Venice lots to T. $, Benjamin for $9,000. Sadowski and Son sold @ Lit - lot fo A, W. Slater C. Yates sold a Key Saturday, January 16, 1954 VENETIAN BLINDS EXCLUSIVELY WITH The MAXWELL COMPANY # — Consolidation Is Announced DETROIT W — Hudson Motors and Nash-Kelvinator are consoli- Subject only to anticipated stock- holder approval, the Hudson Motor Car Co, and Nash-Kelvinator Corp, hol become the American Motors An estimated 355 million dollars in total assets and more than 100 million in working capital are in- volved. Boards of directors of the two companies agreed on terms of the consolidation Friday, NK’s Nash and Kelvinator divi- sions and Hudson agreed to :be- Precision - made te fit your windews inspired volors ... either matching come separate divisions of the new corporation, Kelvinator is the elec- trical appliance-producing division of N-K Corp. or contrasting tapes. PHONE Us FOR FREE ESTIMATE The Mc «well Company 909 Fleming St. VAL 97941 A |board of the new corporation. FINANCING ay \ 2 MIKE’S PLUMBING Take Time To Pay... MODERNIZE THAT BATH . KITCHEN KOHLER OF SOLVE THAT SEWER PROBLEM There's NO DOWN PAYMENT? You have three years te pay. Come in and learn about this easy payment plan. Opportunity is knocking at your door. Recondition, remodel or add that The plan also called for convert- ing three shares of Hudson stock for two of American Motors. Each share of Nash-Kelvinator stock will become one share in the new corporation. A. E. Barit, Hudson president, will be director and consultant in American Motors. George W. Mason, president and board chair- |man of Nash-Kelvinator, will be |president and chairman of the In & joint statement the com- |panies said their combined sales jin the year ending last Sept, 30! topped the 680-million-dollar mark. During this same period, Hudson and Nash turned out a combined auto production of 244,507. units while Kelvinator manufactured 638,000 household and commercial ) appliances, ¥ The merger will make American| Motors the fourth largest automo- | bile producer in the nation, behind the “big three” of General Motors, Ford and Chrysler, The consolidation will be the sec- Fo-|closet is more storage space, also iding a NEW YORK w#—Business may _ | shift its ways of raising ‘money as a result of two tax developments. ‘They make the public look better than the banker to business—and should make business look better to the public. One tax development is the move’ toward easing up on the double taxation of business earnings and dividends. The stockholders—the owners of business—would find the returns of their ownership sweeter. The other is the death of the excess profits tax the first of this year. That tax often made it more profitable for business to go into debt when it needed money to expand than to raise the money by increasing public ownership through the sale of more stock— especially since some present stockholders’ might object to “wa- tering down” their equity in the business, Stock traders are apparently feeling more optimistic about the} prospects for sales of stocks and for the continuation of high divi- dend payments to shareholders, Dividend payments by corpora- tions last year came to around 9% billion dollars. About’ 3% billion of that went right on through the stockholders’ fingers and into the U, S. Treasury. Under the proposal of the House Ways and Means ‘Committee, by 1956 the stockhold- ers would be retaining another bil- lion dollars for themselves; as- suming that dividend’ payments hold at the 1953 level. This would make stock owning look a lot brighter to the public, brokerage firms here feel. And they look for much better chances for placing more common stocks in the hands of the American ‘public, The “double taxation” charge arises this way: First, the earnings of the corporation are subject to an income tax, at present 52 per cent; the second, that part of the earnings which is passed along to the owners of the corporation in the form of a dividend is subject to the individual income tax. The House group proposes to lift gradually some of this latter bur- den, so that the stockholder won't nave to pay income tax on all of in|the money he gets as a dividend. all Briggs Manufacturing Co, car body plants. a The Nash-Hudson merger, ru- jmored for months, leaves only Packard and Studebaker playing psolitary roles among the nation’s! At the business end of the deal, investment bankers figure there will be (if the proposal passes Congress) a shift in management’s financial thinking, They believe there will henceforth be less em- phasis on going into debt when } So-called “independent” auto man-/neW Money is needed by business. }ufacturers. | Rumors of consolidations affect-| jing these also have been heard. | However, there has been no official Since the war, corporations have raised most of their new funds by the selling of debt securities to the banks and other investors. From now on there may be more reliance on selling common stock to the public, swelling the ownership base with . The Berman residence is in a 61- by-100 foot fot, Business Mirror By Sam Dawson of corporate debt which has grown enormously in the postwar years. Together, the excess profits tax and the double taxation of divi- dends have worked to make com-| mon stock ownership less attrac-| tive to the public. First, the cor- poration’s earnings were whittled) down to fractional size by the tax collector. Second, management! was inclined to retain a large por- tion of what was left to use for' expansion. Third, what was passed along to the stockholder got! whacked soundly again by the tax| lector. j Under excess profits taxation, the U. S. Treasury took such a| high percentage of profit that cor-| porations were encouraged to bor- Tow—because the interest pay-; ments could be charged off before; taxts and thus reduce the amount! of earnings subject to the high tax.| Now the common stockholder; may look like a better revenue! source to business—and the stock-' holder may be in for a break at Sailing, Sailing! 38 Hl Architect Will Open Offices In Key West A. nationally known firm of architects and engineers will open an office here within the next 30 days, it was learned to- day. Norman M, Giller and Asso- clates, who now is represented here by William B. Schlueter, supervisor of the field office, is the firm, Giller, whe was here to in- spect new store building being | built on the site of the old Aro- novitz Department Store, 618 | Duval St., said -he planned to open a regular office here with- in the next month, last. eee et Regardless of the size or shape of your windows, our blinds will be made to fit them like a glove. Your choice of wood or alum‘ inum. A phone call will bring our representative to take measurements and es- timate without obligation. Repairs and Renovations Beastifud KENFLEX Key West Venetian Blind Co. Awnings - Doors - Jalousies - Window: 123 DUVAL STREET (PI IILAPAAIOP PPO OE IT'S HERE! IT'S NEWL aug blors HA op VINYL ‘TILE | TOBAY’S MOST EXCITING DECORATING NEWS waxing ex- cept to add to its bril- “VEX Defies Grease, Dirt and Wear Come In and See Our New Patterns of jemone: LINOLEUM : AKER iP; £0 wee COVERINGS ond © CORONET and TILEMASTER PLASTIC WALL TLES and , Calif. of American industry and reducing, KOHLER FIXTURES extra Bathroom. We sell, service and Install quality products, We'll be glad fo give you a FREE cost estimate! I Kenesha. 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