The Indianapolis News from Indianapolis, Indiana • 46

THE INDIANAPOLIS HEWS Wedmtdoy, October 23, 1930 fog 4 75,000 ITEMS InvesforG AYRES STORE HAS MOVED FORWARD WITH TH CITY, a ins Small Place The first business )hone to be installed in Indianapolis was put InB into the L. S. Ayres ft Co. in 1877. usiness "ill ing was completely destroyed by fire January 2, 1914, but the main building escaped because of its modern, fireproof con itruction.

1 The Ayres company then'ao quired by outright purchase and 99-year lease an additional 34 feet on the west, giving the company rights to all of Lots 1 and 2, and having a frontage of 135 feet on Washington Street. An addition to the main building, Identical with it, was erected on the site ot the fira in 1915. In the previous year all real estate owned by the company and heirs of Maria Helen (Murray) Ayres, wife of Lyman S. Ayres, was transferred to a holding com pany known as the Murray Investment Co. In August, 1923, L.

S. Ayres Co. purchased the old Chamber of Commerce Building, immedi ately south of the store. In 1926, additional property, situated at frequented Louis Lang's Wine House across the According to the sign on Lang's, it was "A pleasant place to enjoy a quiet talk and an invigorating smile." A few doors aown was J. C.

Brinkmeyer where one could buy a variety of whiskies unknown today "Pure Old Bourbon, Copper, Rye and Wheat Whiskies." At the alley, where the Ayres Annex now stands, a single gas lamp provided illumination for the block. The earliest forerunner of the store was a dry goods establishment known as II. A. Fletcher Co. The historians say it was succeeded as follows: Fletcher Hume; Hume, Lard Hume Adams; Hume, Adams Smith, Howard Smith Ayres (1872), and finally, L.

S. Ayres Co. In his own lifetime Lyman S. Ayres was to see his concern grow into a big business. Ayres was a famous name in the retail field when he died in 1896.

His son Frederic took over the management of the business and expanded it into a multi-million-dollar establishment in 44 years. He died in 1940 and was succeeded in the presidency by Theodore Griffith; Other officers are James A. Gloin, executive vice-president; Lyman S. Ayres, vice-president; Frederic M. Ayres, vice- president; David P.

Williams, vice-president, and John G. Wil-lams, secretary. Ayres Co. opened for business October 3,. 1905.

After 1905 further expansion of the business led to occupation of the upper I floors of the Iron Block adjoin- ing it on the west. That build1-1 Shelves at Hook'sWerd Always Full There were as many items for sale in the first Hook Drug Store 50 years ago at Southeast and Prospect Street as there are in a modem Hook store This fact surprises the average person, who is impressed by the variety of articles on display now in any of the 53 stores of the chain. Yet Edward F. Roesch, conv pany president, who has been with the drug combine 48 years, confirms it. "There are about 15,000 Items in a store today," Roesch.

ana mat is about the same number we had 50 years ago, The difference is that today we emphasize sundries and Impulse-purchase items by display ing them Roesch said the drug' supplies have been compressed into smaller space (the big bottles were inefficient from a merchandising point, of view) and moved out of sight Roesch. who Joined John Hook two years after Hook opened the first store, has been the sparkplug of the organization since. Hook died in 1943. Roesch pointed out that the years have also brought a change in the kind of sundry items sold. "I he said, "what a pain in the neck it was to cut window glass on Sunday morning for some customer.

Of course, we don't sell that now." -Roesch recalled that 43 years ago an impromptu "fire sale" on fireworks moved merchandise faster than it ever had moved before or since. A thoughtless cigar smoker flipped the stub into a display in front of the store and touched it off. Exploding firecrackers, Roman candles and skyrockets broke the windows and set off the window displays in a tremendous pyrotechnic show. Sale of fireworks is illegal today. One thing that does not change about the Hook drug stores is the policy laid down by John Hook years ago.

Hook's still adheres to a low every-day price for its drugs and treatment of the customer with unfailing courtesy. And the slogan remains as it was 23 years ago when Roesch and Hook dreamed it up: "Hurry to Hook's!" the life-blood of business capital flows. A business for the rich or near-rich 50 years ago, brokerage houses today are seeking the "little investor" in an effort to maintain trading volume. New Trend to Stocks Significant j' One of the significant business trends in recent years vhas been the large number l'of small business men and women who have decided to Invest their surplus cash in stocks and bonds. Thfy are the small town ers, merchants and professional men who believe they can make their money "work" for them better thrnueh investment in risk capital than it would in bank savings and government bonds.

What are the chances that brotjght about this condition? For one thing, the business boom which got under way: during World War II has not been followed by it severe "bust" or depression as many predicted it would. Individual and com-' pany profits have remained high. By the end of 1947, Americans had boosted their ready cash assets $6.8 billions over the previous year, starting the 1947-' 48 fiscal year with backlog of $172 billions in cash, checking accounts, savings deposits, sav-I. ings and loan shares and govern ment securities. Then, too, the Federal Reserve Board reports, the average fsm-v ily income has been climbing steadily in the last decade.

True, it's not the factory worker, the auto mechanic and bread sales- man who are attracted to the Investment circles but they are the ones who make such financial gambles possible by small busi- nessmen through their regular patronage. At the same time, stock brokers point out that the small investors are not the ones re-" sponsible for putting the stock market at or near its highest level in almost 20 years. The brokers would like to see more of these small business per-1 sons in the investment field, since "our present system of free enterprise is largely dependent on the investment interest of those smaller stock Iraders." Another factor which places added emphasis on the small in-V vestors is that the wealthy speculators have lost much of their incentive to make addi-- tional profits because of the high government taxes. It is common knowledge that there aren't as many million-'. 'aires in America today as there were 10 and 20 years ago.

In fact, there aren't as many with $100,000 or even $50,000. But Traders sit in the "board room" of Thomson Or McKinnon, security and commodity brokers here, and calculate their next moves as two "markers" post latest quotations on the board. It is through such brokerages as this that Range Was Made of Wood The city 8 first elevator was installed there in 1890. The first modern showcases for display of merchandise was an Ayres innovation in 1896. The guiding genius- behind this progressive policy was that of Lyman S.

Ayres, who founded the business jn 1874 when he bought control of N. R. Smith tt Co Such a spirit has guided the business unjil it has become one of the great retail merchandising houses of the Today this beautiful modern store with its indirect lighting, gleaming cases and escalators does a tremendous business in Central Indiana. The guaranty that if you don't like it Ayies will refund your money or replace the article with a smile -has made the store's name a byword in Indiana. The thousands of shoppers that each day move in and out of the bg building like scurrying ants in a giant ant hill create a scene that is a far cry from those early days of the 1870's and 1880's.

The corner that was to become known as "the crossroads of America" had the easy-going atmosphere in the horse and buggy days. An early photograph of the site, known as Lots 1, 2 and 3 of Ralston's Plat, shows that before Ayres occupied the old Hubbard Block it housed the shop of William Sweinhart, "first class merchant tailor-best workman employed and a perfect fit guaranteed." Before this shop sad-looking horses patiently waited at the hitching rails while their misters First Chambers Lpss than 50 years ago, John E. Chambers invented the Chambers range, incorporating the principal of the fireless cooker. For 40 years the company has asserted its claim to the manufacture of the "world's finest gas range." The first Chambers "cooker" was a wooden box heavily insulated and resembled an old-fashioned icebox. The idea was that if insulation could keep the cold in, it could alsp retain hea.

ioaay tne theory of retained heat has been so developed that it is now. possible to start the Servcl refrigerator has a 10-year many, then turn off the gas and A there has been a sharp increase in the number of businessmen who list their "net worth" in the $10,000 to $25,000 bracket. They are the ones seeking out the stock brokers and vice versa. One, Indianapolis broker emphasized that many people get the idea they want to invest in stocks and bonds when actually they don't have enough capital to do much more than some small-scale speculating. These individuals usually are advised to invest" their meager capital in government bonds, Some cities, such as Detroit, have inaugurated public informa- tion programs, aimed at ac quainling newcomers to the investment field with the functions of the securities market and telling them something about the types of investments available.

Some organizations, such as stock exchanges, the investment bankers' associations, have even set up speakers' bureaus to make the rounds of service and luncheon clubs, spreading the gospel of investment enterprise. Speakers are not permitted to promote individual securities, Merck Cortone to Be Distributed About November Merck Co. has announced that cortone (its brand of cortisone) will be made generally available about November 1 through distributors, hospitals, institutions and pharmacies for use by physicians. Since July, 1950, the drug has been available on a limited basis with distribution through hospitals only. It is used in treatment of rheumatoid arthritis.

The company, also' announced a further price reduction, effective immediately. The suggested list price to physicians is $35 a gram. The price charged to hospitals for the past two months has been $50 a gram, the firm said. Merck said It has reduced the price of the product to less than one-fifth of the price charged a little over a year ago. THEY'D STARVE FOR A SMOKE Britain's little people woult rather trim the food bill than deny themselves those cogarettes if a salary cut struck.

Mass Observ a nee, a commercial outfit tha polls the British public on timely topics, got that result in a poll of middle- class folk on this gloomy line: "Given a one-tenth reduction in income, where would you make your cuts?" Ignoring a dismal country parson who replied "across my throat," the figures showed that 32 of those queried would take the first hitch in the food bill. But only 22 would cut down on smokes. themselves or their firms. Instead, the broad objective of the program is to arouse a desire to ''Invest in America." Since 1907! US FRIENDS SERVICE forget about dinner until it is to be served. The new Chambers model range makes revolutionary use of color, to match the surrounding kitchen, and has been endorsed by Betty Eileen McAllister, Mrs.

America of 1950-5L Servel, builders of the gas refrigerator, brought out' a new line in 1950 with emphasis on simplicity of design. Every evening meal as early in the day as desired. Burn the gas 10 minutes for each hour's cooking nor-guarantee on the freezing system. O. E.

(Gene) Buckley is gen Doorway 32 S. Meridian was acquired by lease. The old of Building was razed and on the combined sites the 12-story Annex was built in 1926. Aerial rights were obtained over Pearl Street (the alley) so the two buildings could be connected. Ayres then had a total of 475,000 square feet of floor space.

In 1947, Ayres expanded even farther south on Meridian Street with additions to the Annex. No one living today can fore see the end to the company's expansion. Like the hands on the Ayres clock that hangs at the intersection of Washington and Meridian Streets, the business seems to move ever forward, steadily and inevitably as time itself. eral sales manager for both wholesale and retail operations of Chambers Products, Inc. Mrs.

Athalia Brill has charge of tha home service department and La Verne Gillaspy is superintendent of the service department and warehouse. L. H. Arman-trout is general manager. Sales area for the company includes Indiana, Kentucky and a third of Illinois.

Present store locations are at North Meridian Street and Fall Creek Boulevard, 308 N. Delaware and 1047 Virginia as well as an office house arid warehouse at 904 N. Senate Ave. The staff numbers 80 employees. to E.

B. Martindal Jamai S. Regan Growing With Indianapolis PROGRESS TO MEANS MAKING NEW BY GIVING VALUE and HI 1 I I a Indianapolis' Most Progressive Furnifure Store Offers: WRITTEN GUARANTEE Business Progress in Indianapolis Through the years, this familiar doorway at 45 North Pennsylvania Street has symbolized the commercial and industrial developmenjts of Indianapolis and the surrounding area. Tn the future as in the past, it Mill be American National's policy to make its complete banking facilities available wherever their constructive use can be properly employed to help further the progress of Indianapolis and Indiana. STAR NEWS WIRE! We join with other individuals and organizations of this community in congratulating the progress of the Indianapolis Star, News and WIRE, and in wishing them continued success in the years ahead.

WITH EVERY PURCHASE Plus Your Money Back If You FAMOUS NAMES IN Furniture Appliances Rugs Toys Bedding a Free Sta.e-W.de for less cisewnwc Ftr.lusive Ideal Service Exclusive mea. Can Buy Here's Dehvery Another PURCHASED POLISHED AMERICAN NATIONAL BANE at Indianapolis i DURING DIRECTORS J. M. Blecli J. E.

Cin J. F. Carroll J. I. Holcomb Gorgi A.

Kuhn William H. Mooruy William J. Mooney G. Barret Moxley Quintin G. Noblitt Elmar W.

Stout William H. Trimbl OUR 43RD YEAR BIG hew T0YLAND 4 i .4 i i i.