The Palm Beach Post from West Palm Beach, Florida on November 10, 1968 · Page 86
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The Palm Beach Post from West Palm Beach, Florida · Page 86

West Palm Beach, Florida
Issue Date:
Sunday, November 10, 1968
Page 86
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Page 86 article text (OCR)

F12 Palm Beach Post-Times, Sunday, Nov. 10, 1968 County Road In Palm Beach Miniature Wall Street Common garb Is often sports clothes and boating shoes. If aware of It." Stock and bond brokers listed In Palm Beach County are: Bache & Co.; Francis I. duPont & Co.; A.G. Edwards & Sons; Goodbody & Co.; Hardy & Co.; Harris, Upham & Co.; Hayden Stone Inc.; Hirsch & Co.; Laird, Bissell & Meads, Inc.; Merrill Lynch, Pierce, Fenner& Smith, Inc.; Riterft Co.; Blair & Co. (formerly A.L. Stamm & Co.;) Thomas & McKinnon ; Walston & Co. Many of the above firms are also in the 50 names listed under securities and investments in the couniy phone book. Another expanding phase of the Investment business is noted in the many mutual funds operating offices in the area. Again there is a repetition of brokers' names in this listing in the yellow pages. Home Deaths Home accident deaths i- he United States in 1967 to. ale -bout 28,500, according ,o th. National Safety Council. Moi. than one-third of those killed were 75 years old and older. this appears to be relaxing the mores of business It is only following a trend set by the clients. Often the customer Is stepping Into the office on his way home from a deep-sea fishing expedition, or the tennis courts or golf links. "It doesn't mean they are casual about stock purchases," said Warner. "We have some big and Important Investors In the area. Other brokers In the area are also . f . 1 permanent operation in West Palm Beach, following Thomson & McKinnon." Permanency and growth go together. DuPont now has about 25 employes. Its growth is typical for the county's brokers, not all as large as duPont, of course. Office expansion for many brokers here indicates not only general population growth, but also that a high percentage of these are investors. Today's investor Is recognized as being knowledgable and more scientific. Local brokers are Installing more and better equipment to keep pace with market fluctuations. More trading means better business, and more commissions. Although the brokers here are reluctant to break gracious living i Is A MOBILE HOME COMMUNITY Adults Only By PETE GORDON The explosion of trading on the New York Stock Exchange and other stock and bond trading areas has reflected In the Increased activity of brokers In Palm Beach County. It Is unlikely that another county of this size (344,400 population) has as many brokerage houses. Now these are expanding in size, and new houses are finding a foothold. County Road in Palm Beach is a miniature Wall Street. It lists six brokers. There are another two on Royal Palm Way, and others located elsewhere on the snug, monied island of 9,000 population. Admittedly it grows to about 45,000 persons in the winter season, and most of this group's money .is also good at any stockbroker. "In the 1920's the brokerage firms in the beach area were only open during the season," according to J. Leo Gleason of Francis I. duPont & Co., in West Palm Beach. "There were three or four, maybe. "For example, Daniel Rice opened an office in the Breakers Hotel every season, then closed as the winter residents departed. Merrill Lynch was actually a late comer to the area." Gleason joined duPont when he became co-manager with C. Edwin Wamer to open the office as a permanent fixture on Datura Street In West Palm Beach, where it is still located. It is now a much expanded operation under the managership of Gordon D. Gaster. "It was the idea that the city could use another all-year brokerage that prompted the deal," said Warner. "I had been in the business in New York since 1921 and had a seat on the New York Stock Exchange since the mid-twenties. I retired in 1949 from a partnership with A. M. Kidder & Co. I kept a small office but idleness was not for me." "Gleason and I got together. In 1951 we became the second A MODERN 100 ACRE HOME COMMUNITY Featuring A New concept of Florida living in the heart of Palm Beach County : ROBERT BENNET, ROSE T.CAMPIONE Realtor Of Year Award Presented La RENAISSANCE CONDOMINIUM APARTMENTS LARGE OCEANFRONT 2 BEDROOM 2 BATH $20,800 to $34,000 150' OCEAN FRONTAGE SAUNA BATHS IARGE SWIMMING POOL HIGH SPEED E1EVATOPS FIRE PROOF CONSTRUCTION IEAUTIFU11V LANDSCAPED CUSTOM CABINETRY GARBAGE DISPOSERS SANITARY FACILITIES i la h SOUNDPROOF WALLS CENTRAL T V I UHf SYSTEM WALK-IN CLOSETS GENEMl fiJftfCTMC EQUIPMENT TRASH ond LINEN CHUTES PUTTING GREEN WASHERS and DRYERS 2 PARKING SPACES PER APARTMENT All Mobile Homes have attached Carport with utility room and screened patio. CLUB HOUSE, SWIMMING POOL SHUFFLEBOARD COURTS ALSO LARGE RECREATION AREA. Arrowhead Village 6255 Lawrence Road, Lake Worth Florida (mil II mi Inlt Ini Itum II I Lt 11111 InH I tiiinl Phone: 967-2626 COMMUNITY ROOM down their business volume, the overall figures are revealing. The 1967 NYSE volume of 2.5 billion shares valued at about $125 billion was a record. This netted its 650 members a commission Income of about $1.5 billion. A good part of this rubbed off on local branches. After the tally Is completed for 1968 It may prove even more prosperous for local offices. In the first six month of 1968 the NYSE hit 1.5 billion shares exchanged. Some days In the first half traded as high as 16.86 million shares. More than 50 days it exceeded the 13 million shares exchanged. In 1967 this last happened only four times. Brokers appear more relaxed In Palm Beach County. in Palm Beach SPACIOUS LOBBY BULK STORAGE AREAS PRIVATE TERRACES FOYER ENTRANCES THOROUGH VENTILATION ' EXHAUST FANS TUBS 1' REFRIGERATORS DISHWASHERS FORMICA-BACK SPLASHES , Absolutely No Ground Fee or Facility Lease being of this community and this country. We have been talking about a hundred new homes but in all of America this year about 1,400,000 new residences will be built. A rising proportion, about 40 this year, will be apartment units. Second Largest Industry Unlike most other large industries, home building has no national or regional centers. This great surge of activity is spread throughout the nation, in every city and crossroads. Home building while nationally the second largest industry, second only to food producing and processing is strictly local in nature. Statistics are now available to confirm the casual observation of many that the popularity of apartment living is rising steeply, an id Lee C. Vona, president-elect of the local association. At the beginning of the present decade only one fifth of annual housing output apartments or tnwnhouw. By llMilt, one third of the homes produced were mullilnmily units. THIS KMIII.KM IDKN I The realtor-of-the-year and i the associate realtor-of-the-' year were announced at the installation banquet of the JEAN PARKER "iff-. ' --r4 IOO CONDOMINIUM i L W 1 3230 S. OCEAN BLVD. - PALM BEACH - Ph. 585-4583 Carmine & Frank Martueci, Owner-Builders Mi - T V 1 West Palm Beach Board of Realtors lust week at Kamada Inn. Jean Parker was selected as realtor-of-the-year. It came as a double surprise to her. As chairman of the selection committee she announced that no realtor-of-the-year had been named. Then, according to Frances Henderson, a member of the committee, without Mrs. Parker knowing it the committee over-ruled her and selected Mrs. Parker. The associate-realtor-of-the-year Is Rose T. Campione of Jo-Aces, Inc. Robert Bennett, executive vice president of the board, was given a plaque for 10 years of outstanding service and a U.S. Savings Bond of $1,IKK). President David Nussbaum, Sr., Jacksonville, of the Florida Association of Realtors, was the installing officer. Julian J. Jowuisas was seated as president. v: GEORGE E. GALLAS Trail. His daughter, Nieki Lynn, is a professional actress, singer and dancer in New York Citv. Are Backbone totalled more than SSIK) million. Americans are eating Ki per cent more potato chips today than they did lit years ago and are spending ti7 per cent more for them. Builders Association Aids Residential Buyers In Two County Areas Gallas Is Manager For Channing Co. Recently the apartment committee chairman of the National Association of Home Builders with which the FABA is affiliated predicted that half of all housing units in the next several years will be apartments or townhouses. One of the basic factors in the future of the apartment boom is population characteristics. Demographers forecast that during the next five years the number of persons between 20 and 30 will grow more rapidly than any other age group. At the same time no change is expected in the size of the 30-45 segment traditionally the prime prospects for buying single-family homes. More Apartment Buyers The trend toward apartments also is attributable to mobility of American families. Kmploy-ment transfers and other motives caused 40 million person to move their place of residence last year. Statistics aside, the popularity of apartment living ran I traced to convenience. Not only are there few interior maintenance problems but also lawns are mowed and boiler PALM BEACH - George E. Gallas has been appointed resident manager for Channing Co. Inc., 242 S. County Road, according to Kenneth K. Beiersdorf, vice president and national sales manager. Channing is a mutual fund sales firm. Gallas, who relocated in Palm Beach two years ago, is the owner of the Tri-State Water Softening Co., Highland Heights, Ky. During the lit-10's, he and his wite, Jo Ann, were a well-known professional datce team, often performing in Palm Beach. They met anc were married while both wen appearing in a show at th Biltmore Hotel here. Gallas still retains membership in dance associations. He conducts young persons' dance and social etiquette classes. A native of Cairo. Egypt, he was educated in Alexandria, and attended the University of Akron, Ohio. He and his wife live at 1,15 Root Potato Chips ITHACA, N Y. il'PIi - Po tato chips are the backbone of the snack market, reports the Cornell University Extension Service. Sales of potato chips in BOCA RATON - The Florida Atlantic Builders Association now is in its second year of co-ordinating the efforts of the construction industry in South Palm Beach and North Palm Beach County. Its 100 members banded together a year ago this Fall to Erotect the intersts of the ome and apartment buying public. They are on the alert to provide the industry's latest techniques and materials. Members meet regularly to discuss the latest trends in the building and construction industry. This know-how is passed along to the home buying public in the form of the best construction for least cost. An important part of the program also is the study and appraisal of legislative action by local, state and national governmental agencies. Directori Set Policy FABA is governed by a board of directors who establish policy, and its executive, John M. Stanfel, who administers the programs adopted by the members. What does building a hundred new housing units mean to this area? The economic impact is amazingly far-flung, like the ripples from a stone cast in a pond. Tiach new unit provides about 3,000 man-hours of employment, half on-site, half off-site: more than 330,000 man-hours of work for local people in building hundred new residences. This creates a great demand for both skilled and unskilled construction workmen. These jobs pay good wages and studies show that more than half of every dollar spent on home construction, including labor, remains in the are fired by the owners instead of residents. Furthermore, for residents, preparations for vacation trips involve nothing more difficult than stopping milk and newspaper deliveries and locking doors. Apartments will be demanding more and more of the public s attention in the matter of a better living environment. Where you live shapes a child's outlook and a wife's happiness; it reflects the progress of a man's career. A better place to live, a new home or apartment, opens up a more enjoyable life for the whole family. Where You Live Important Where you live can make the difference between just existing and really living. That's it: The name of the game is living. "The Name of the Game Is Living." You'll hear that phrnw repeated often this year and next. The unique benefits offered by a new home or apartment um ni ed up in the 'Living' theme, are being emphasized in a major marketing campaign in which home builders, manufacturers, suppliers, lenders, utilities and others here and throughout the nation are participating. An exciting wide-open kind of life can begin with a new address. A move up reaches into the future, into an ever-broadening circle of new friends, new ststure, end new things to do. Msny people fail to realize that a move up needn't be an awesome financial commitment. The extra money families put out for payments on a color TV set, a boat, a second car, could buy a different and important change in living standards. Unit of National Association The National Association of Home Builders, with which the Florida Atlantic Assn. is affiliated, estimates that 3.000 different items go into building every residence. A high proportion are bought from area manufacturers or from local deal- The impact of residential ownership goes far beyond the circle of beople immediately involved. Buying a new residence calls for the purchase of new appliances, rugs, drapes and curtains, garden plants, lawn equipment, and many other items estimated at $3,000 per unit: a total of $300,000 for our hundred new homes, virtually all of it going to local merchants. The money appears again and again in the local economy as merchants pay their bills and taxes. Building new homes stimulates many other types of construction activity. New homes require new or bigger schools, more churches, more streets and highways, playgrounds, libraries, shopping centers, recreational facilities, expansion of utility lines. A conservative es-timaie of these related construction activities would be $3,000 per home (and $1,000 per apartment unit) for a hundred homes, another $300,000 to boost our local economy, not to mention the hundreds of jobs furnished by such activity. Community Benefits Home building's impact doesn't stop there. The community benefits through real estate taxes. Increased mort- ?:age loan activity is generated or local financial institutions. New homes boost business for local utility firms. Most important, the people in those hundred new homes many of them new-comers to this area contribute to our civic, cultural, and economic progress. The construction and purchase of new homes has far-reaching beneficial effects on the economic and social well- Key Is Monthly Payment Remember, the monthly) mortgage payment is the key' figure in your calculations, i Stretched over a 25 or 30-year mortgage, the price difference J between an adequate but unex-. citing home and the one that can give a whole new dimen- sion to living for as little as a , dollar a day. Many husbands-and wives could afford that if they simply stopped smoking! "The Name of the Game Is Living" campaign will seek to keep the prospective home buyer informed of the availability of homes and apartments, of the existing mortgage money situation, and to help him evaluate both in terms of his immediate and long-range needs for housing. Deal With Professional it will emphasize the value of dealing with a knowledgeable professional builder member of the National Association of Home Builders, with which our local association is affiliated. President Vona has pointed out that the buyer cannot view the housing situation in historical perspective. If he wants a new residence he wants it now, or very shortly, and he'd be wise to go ahead and get it now and reap the benefits, personal and financial. Prices and mortgage interest rates show no signs of abating their upward trend, Vona noted. The "Living" campaign will blend advice on the economic truths of today's housing market with ads dramatizing the many intangible benefits of home ownership. "You deserve," proclaims one advertisement, "enough privacy to follow your own drummer without hearing somebody else's trumpet." That's what "The Name of the Game Is Living" is all about. IHKM Ml Mill' MM OF FAHA PRIME LAKE WORTH - LANTANA WATER FRONT PROPERTY FLORIDA-ATLANTIC BUILDERS ASSOCIATION 11''2 ACRES EXTENDING FROM LAKE WORTH TO U.S. 1, ALSO SUBMERGED LAND TO ESTABLISHED BULKHEAD LINE, ALL UTILITIES AVAILABLE ZONED FOR SHOPPING CENTER APARTMENTS NURSING HOME ETC. TERMS TO BE NEGOTIATED EXCLUSIVE WITH ... JOHN M. STANFEL, Executive Director loca Raton . . (30S) 3tM0l? FLORIDA PUBLIC UTILITIES BELRAT IEACN 271-2131 GENERAL BUILDERS FT. LAUDERDALE 5244357 SORT INDUSTRIES, INC. BOCA RATON 385-1770 GULF STREAM LUMBER BOTHTOH BEACH 39S-2330 HOMES BT LEON BOTHTOH BEACH 7324SS3 INVESTMENT CORP OF FLA. BOCA RATON 3M-7I2B MASOH REALTY, Ceaaontiaiamt BOCA RATOH 335-0151 MAUU INDUSTRIES, INC FT. LAUDERDALE 5S5-7757 RATIONAL INSULATION ! BOCA RATOH 396-7551 PALM BEACH LEISUREVILLE BOTHTOH BEACH RADICE REALTY I CONSUL FT. LAUDERDALE 5M-32GI RIMER MATERIALS, CORP. BOCA RATON 395-4114 SHERW00I PARI BUILDERS BELRAT IEACN 271-7293 SWANK FURNITURE BELRAT BEACH 271-2147 UVIDI CORP. BOCA RATON 335-5330 IARR CO. APTS. OELRAT (EACH 271-2311 in CONSTRUCTION DEERFIEU IEACN 39S-015I BRIARHILL PROPERTIES FT. LAUDERDALE 514-3300 CORAL MANOR HOMES, IHC. DEERFIEU REACH 3M-22H DOIT BRICK I SUPPLY I0CA RATOI 395-2700 FLORIDA POWER I LIGHT BELRAT REACH 2714311 FRED G. YOUNT, broker 6500 NORTON STREET, PHONE 582-2566 WEST PALM BEACH, FLA. TiSelNlanirfiheGame k Living. Explore en

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