The Central New Jersey Home News from New Brunswick, New Jersey • 27

UNDAY XlOME IN EWS business in stiXic xeal estate 23L eJA? NEW BRUNSWICK, N. SUNDAY, JUNE 10, 1962. 27 THES This Week in Business President Urges Congress To Keep Economy on Move 32 Dwellings Are Planned in South River SOUTH RIVER Opening this weekend on Kamm Avenue, off Old Bridge Road, is a new community of 32 custom-styled Colonial split levels, Pleasant Valley which may be followed by art ad he did say that the cuts would not be completely offset by other provisions of the measure which presumably would be designed to vance. Others, in a pessimistic at By JACK LEFLER AP Business News Writer NEW YORK (AP) President Kennedy promised during the week to recommend an income titude, warned that this wasn't necessarily the end of the sharp X. ft 1 1 ft 2 T'i tlttI? recover some of the lost revenue.

Urging Congress to act quickly on economic measures he has urged, the President said: "There tax cut, and pressed Congress for action to keep the economy from Homes. The developer is the Herald Construction Co. of West Orange. decline which began in mid-March. The New York Stock Exchange faltering.

builder of Cedar Hills, Franklin He' conceded that his hope of announced it would analyze the frantic buying and selling that Township, and Old Manor Estates, attaining a 1962 economic output of $570 billion probably will not be and put some of the Holmdel. Rellim Realty Co. is sales agent. blame on the stock market Priced from $19,990, the homes have eight rooms, three or four The across-the-board tax reduc bedrooms bath and one or two half -baths, finished recreation tion for individuals and corpora tions would, if enacted by Con rooms full dining room, kitchen with dinette area, attached threw the market into an uproar May 28, 29 and 31. The automobile industry zoomed aiong at the head of the industrial parade.

In May it sold 565,837 U.S.-made passenger ears, the highest since September of record 1955. For General Motors, with sales of 331,644 units, it was the biggest month in its history. Industry sales since Jan. 1 through May 30 totaled 2,837,000. Production during the week was gress, be effective next Jan.

1. First word of the administra tion's intention came Monday Veterans may buy with no down payment and liberal terms also is no need to stand helplessly by and watch our economy run out of gas." Some of these measures, he said, would: Give business a incentive to acquire new plant and equipment; standby authority to cut income taxes by 5 per cent if a recession threatens; repeal the 10 per cent transportation tax on train and bus travel. Just Needs A Shove He contended that the economy has "very good vitality" and with a shove from his recommended legislation could come near the $570-billion gross national product level. Currently the nation's output is running between $550 and $560 billion a year. Recent developments, including night from Secretary of the Treas ury Douglas Dillon in a New are available for non-veterans.

A furnished model home is open daily and Sundays. York speech. He gave no details. Provisions in Doubt Kennedy said at his news con estimated at 151,434 against METUCHEN GARDEN APARTMENT SOLD This six-family stucco garden apartment building at 531 Main Metuchen, has been sold by Mr. and Mrs.

Joseph W. Lenehan of Amwell road, Middlebush, to the Lilla Mundy Svendsen Corp. of 73 Hillside Metuchen, for investment. The building, which contains six attached units, each two stories high, is on a lot about 50 by 190 feet. Each apartment has a living room, dining area, bedroom, kitchen and tile bath.

Title was conveyed May 31, with the Lilla Svendsen Agency of 73 Hillside Metuchen, as broker in the transfer. The sale was made by Mrs. Lilla M. Svendsen, head of the agency and also president of the purchasing corporation. ference Thursday that the provisions of the tax bill won't be completed until this summer.

He 321 last week and 127,383 a year ago. Steel Output Off Again PANELS COVER PORCH One of popular uses for vinyl building panels is as awnings over an exposed porch. The panels reduce the heat and glare of the summer sun and provide an attractive appearance. added that the recommendation On the other hand, steel pro will be sent to Congress this year. duction fell during the week for Kennedy declined to say how the ninth straight week.

Output big the reductions might be. But Daly Assails Proposal to Cut Bishop Towers Assessment of 1,586,000 tons was 3.6 per cent those in the stock market, are "There isn't a building in the city, even in the worst slum area, that has been granted a 45 per cent allowance for economic ob holding back production, he said under questioning. Kennedy attributed the stock market decline mainly to an over-! priced situation, saying that finan-' cial experts had felt for some i time that it would not hold up after realization of the situation. I Dr. Marcus Nadler, consulting economist for the Manufacturers Hanover Trust Co.

of New York, commenting on Dillon's earlier i speech, had said: "Details of the solescence in the assessment of taxable property," Anthony F. duction in the assessment in e-cess of the amount sought by th appellant." Radics said in a prepared stale mcnt before the county board that the study of the assessors prompted him to recommend that tha $2,610,142 Jacobs appraisal be cut $1,174,563 because of economic obsolescence, and that th $1,435,579 valuation be assessed at 30 per cent, ratio used by tha assessors, to produce a $430,659 assessment on the building. "In the area of Bishop Towers," said Daly, "the appraisers allowed 10 per cent maximum on slum buildings. The appraisers set 15 per cent in other areas. But nowhere did the appraisers allow economic obsolescence on new buildings." Daly said the city's position in the appeal case pending before the county board was "unusual." He added, "the city was asking the county board to grant a re sex County Board of Taxation in the appeal of New Brunswick Constructors, owners of Bishop Towers, for tax relief.

Daly said the J. L. Jacobs Company, the city's evaluators, had allowed a maximum of 25 per cent for obsolescence and depre-j ciation in appraising taxable property. He said the 25 per cent was allowed on buildings that were literally falling down and in most cases unoccupied. Daly, former tax assessor de clared today.

Daly made his observation in calling attention to the recom mendation of Tax Assessor Thomas G. Radics that the 45 per cent factor be granted by the Middle below the previous week. With the industry's production down to about 55 per cent of capacity from 80 per cent at the end of March, producers ordered layoffs and short work weeks. A government study showed that business men plan to spend $37.2 billion this year to expand and modernize plants and equipment. The amount was unchanged from one announced three months ago.

The 1961 expenditure was $34.4 billion. The railroads and 11 unions representing 450,000 nonoperating workers agreed to recommendations of a presidential fact-finding board which provides a wage increase of 10.28 cents an hour. In another railroad development the Brotherhood of Railroad Trainmen announced they would "spend whatever it takes" to oppose the proposed merger of the New York Central and Pennsylvania Railroads." Briefly around the business EISELE KING, LIBAIRE, STOUT COMPANY ESTABLISHED 1868 MEMBERS NEW YORK STOCK EXCHANGE Serving the New Brunswick Area for over 30 years OPEN THURSDAY EVENINGS 390 GEORGE STREET CH 7-5330 NEW BRUNSWICK NOW more than ever before, HOMEMAKER tax-cut plan should be spelled out soon. I believe a reduction would be a good step in that it would automatically increase disposable income." Some brokers felt the Dillon announcement Monday night played a part in arresting a stock market fall that had been deep that day. Others discounted it, saying that prices were ready for a rebound from the low levels to which they had fallen.

Views of, Market Vary Volume of trading, which had reached near-record proportions in the previous hectic week, fell off. Some brokers saw in this aj MM IS EVERYO scene: The National Aeronautics and Space Administration plans to negotiate a $75-million contract hope for market stabilization You'll see our twelve new Command Design Series, the most lavishly livable homes we've ever created you'll learn about Am-ron's Central Jersey communities in every budget range and best of all you'll get a wealth of new ideas for your future home, so make Amron your first stop for homa planning. Whether you already own your lot or are still seeking the ideal spot for your family's future home whether you prefer a custom home in the country or in an established community whatever your budget, whatever your taste in design, Amron has the perfect home for YOU. Come to the newly expanded Amron Design Center right on Route 130 at Cranbury. with Union Carbide Corp.

for liquid hydrogen Ford Motor Co. is considering establishing a factory in West Berlin Eighty- tp (3 CD 0 nine corporations raised dividends rsher in May, compared with 40 in May 1961. 1 i The WELLESLEY $25,900 VILLAGE GREEN STARTS SALES HILLSBOROUGH Sales will start this weekend in Village Green, the first cluster-type community in New Jersey since the A La (Pi PERFECTLY PLANNED ii ii ii ii ii 1 1 Olde Yorke Estates lale 1920s, with the debut of FOR f-ys. it i split level and bi-level models with unique New England barn-type exteriors. The development is on a 78.6-acre tract about 500 SOUTH RIVER (MIDDLESEX COUNTY,) N.

J. A nc. I r-'-. 1 MODERN FAMILY LIVING Situated in a quiet suburban setting in one of the most desirable, established residential sections of South River. Nearby are modern public and parochial grade schools South River High School houses of worship of all faiths shopping centers.

Only minutes away from the Garden State Parkway, N. J. Turnpike, Route 18 and other major highways. Truly a delightful place to live where TAXES ARE LOW! eT' Jj' 1 18 i tI EXECUTIVE RANCH $13,700 at Rolling Acres INCLLUDING SITE FHA Financing r-i feet off Roite 206 opposite the Duke Estate. The homes are priced from $13,990 to $20,990 and can be purchased with VA and FHA financing terms for summer delivery.

Built by Melvin Konwiser of the Meldor Corp of Union, the cluster-plan places its 72 early-American styled home.s on horseshoe-shaped streets and leaves 42 naturally beautiful acres as a recreational area. "If we built Village Green in the conventional manner on 1-acre sites originally required by Hillsborough," Konwiser states "we could only earmark 3'i acres of recreation area instead of the 42 we have now." Konwiser points out that the beauty-saving cluster arrangement could not have been built sight of the Hillsborough Township municipal government. The first cla'Ser-type community since the Radburn area of Fair Lawn was developed in the late 1920s. Village Green consists of three 24-home clusters. Homes are built on minimum 15.000-square-foot.

fully-landscaped plots serviced by city sewers, with all improvements. AMROX COMMUNITIES. Gpiitf i -1 'wnwrl' ft I 10 DOWN-30 YEAR FINANCING AVAILABLE Homes from $13,700 to $29900-Complete including site Brooktree East East Windsor Township Rolling Acres Hamilton Square Olde Yorke Estates Sooth of Hightstown Hi-View East Windsor Township The Halpern Agency of Somer- vilie is handling sales. COLONIAL 2-ST0RY AND SIDE SPLIT LEVEL HOMES 8 ROOMS 3 OR 4 BEDROOMS FULL BATH AND 1 OR 2 HALF BATHS FINISHED FAMILY ROOM OR RECREATION ROOM WOOD SHAKES EXTERIORS ALL AROUND FULLY LANDSCAPED PLOTS OF 7.000 SQ. FT.

OR LARGER CITY SEWERS AND ALL UTILITIES IN AND PAID FOR ATTACHED GARAGE. New Section Opens At Edison Oaks EDISON Sales are beins For 19 99Q NO DOWN PAYMENT 1jV ly LIBERAL TERMS For Non Vets 0iM A 4 tMIQN INC Triced from VETS opened this weekend in the 20-home third and final section of Edison Oaks at Oak Tree, 60-home community off Oak Tree Road Five models are displayed at FURNISHED MODEL HOME OPEN DAILY SUNDAYS MODEL HOME PHONE: CL 7-8383 Interior Decor by: ROSE LEWIS ASSOCIATES, N.S.I.D. Elizabeth. N. J.

niBFCTIOVS: Garden Stal Prkwr i Hunt 1 lit run: nmh on RouU I tn Route 18: continoe rmt Rniit 1H nrl iuy hinnl iSnnth Rivrt; rro Route 1 Into Old Bridie Turnpike; turn ritht to km mm Are. then left on ftmm Ave. and Model Homes. OR; J. Turnpike to Route lit (Exit then east on Route IK and prsretd above.

Edison Oaks, priced from $28,000. The first two 20-home sections have been sold. Jacobson, Gold- 0Wh Amron will build on your lot from your plans or ours, or help you find the ideal site for your new home DIRECTIONS: Comt to the Amron Design Center on Route 130 Cranbury, 4 miles north of Route 571 intersection. At Amron we'll help you with your planning or financing problems and personally show you the communities and home styles that appeal to your taste. AMRON Builders, Route 130, Cranbury, N.

J. Osman-Amron, Inc. Phone: 395-1575 farb and Tanzman of Perth Am- boy is sales agent. Manaus, a Brazilian port city. urn.

exports rubber, Brazil nuts, rose wood oil. cocoa butter and animal pelts..