The Courier News from Blytheville, Arkansas on April 13, 1948 · Page 10
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The Courier News from Blytheville, Arkansas · Page 10

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Blytheville, Arkansas
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Tuesday, April 13, 1948
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Page 10
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1 , neiv BLYTHEVTLLE (ARK.)' COURJER NE\VS TUESDAY, APRTT, 13, l»4f Much Real Estate Is Insurance Firms Sell $79,000,000 Worth of Property During 1947 Th« life Insurance companies of the United SkUes lust year, sold »79,000,000 of real estate, but purchases of $205.000,000 of real estate more than offset tlio snles, resulting in an increase in total real •state holding to $838,000,000 at ye»r-end, according to the Institute of Life Insurance. Holdings of real eslats other than farms, home office properties and properties held for Investment, were reduced during 1947 to 4110,000,000, the lowest point since 1929 and $38,000,000 of these were under contract of sale. This left only $72,000,000 at the.se city properties held outright, at year-end. The life companies' holdings of farm properties, of which more than a billion . dollars worth had Land Survey Protects Buyer From Lawsuits Before pinclm.slng * home or buitrtirp plot, the buyer should protect hiinsrlf fr'»n l.iw.suits by having R rpgS.slorpd land surveyor chock tlie boundaries described in the deed. The fee Is seldom more Hwn $25 and many .surveyors do the work for war veterans for $10. Somp morlgftge lenders rcquirn that R survey be included with other legal papers, but the practice IB not universal £\jid buyers often discover that boundaries arc VRRUP; thai they have built on someone else's properly ; or that a neig] i - bor'K lonce or building encroaches on the plot. For example, one builds a garage on what lie bpJIcve.s l.s the property line, only tb find later Unit h!.s plot- is actually t\vo feet narrower. First knowledge usually comas from the adjoining property - owner who ftervcs- notice thnl the two -loot strip must be bought nt an exor- ---—,. U _....»,, , ».«,,!».., 11U>l.lL llttll , * —"..p.... "W .-.. «.....L been foreclosed during the pre-wnr oilnnl price or the RfvraRf be moved. -*- ' - ... — Also, if a buyer accepts an existing fence as Ihr? boundary line, ho nitty discover it encroaches H foot or two on Ills plot. In some states. If Ihls depression, were reduced to $77,000,000 at year-end and all but tU.000.000 of these were under contract of sale. Property Rehabilitated "Th« large sales of res! estate- holdings during the past few years »r« evidence of the major job done br the life companies' in rehabilitating the properties they found .It necessary to foreclose and putting ttiem back Into full community use," the institute commented. "In i*ie past three years alone, these companies have sold more than t500.000.000 of real estate. Since 1929, their real estate sales have approximated two billion dollars. Hundreds of -thousands of farms, city homes and business properties »ere put back Into condition and in- FOR WET WALLS AQUELLA Do***» detpofrl Aqucll* h*s •ucc*c<$ed where other mMc- |n«k h*v* Ivtl^fl. Intcinaiion- '•Oy known—nationally «dv«r> compete det«tU «^ E. C. Robinson Lumber Company 3H West Ash .St. Phone 551 , fence is allowed to remain seven years, (he Innd enclosed by it becomes the property of the adjoining Tips for Best Home Painting Results Listed Paint protects us well as bcautl- Iles if it is applied correctly. There are some facts all home owners .should know about paint, says Practical Builder. Chicago "3. It should lie done in dry, cool weather wllh the temperature above 40 or bL'lo'v 90 degrees. Surfaces must be clean and dry. Woods containing pitch, oil or resin need a coat of sealer to prevent paint bleeding. Only cement-base piitnt can be -,ised on damp concrete, as oil-based paint needs a thoroughly dried surface to adhere. Cleaner surfaces are maintained on buildings which can "wash" themselves if they use x pnint that chalks slightly. ' Retnemlier that cheap pninlMs ex- toto effective nse by the life insurance companies." This was the first year that totnl real estate holdings of the ll(c companies had increased since 1937, the upturn being due to Increased purchases of real estate for, Investment purposes. During 1947, f.53.- WJO.OOO was added to their rental housing investments and $122,000,000 to their non-housing rental properties, bringing total holdings o! these two types combiner! to $378,000,000 at year-end. Html fsfafe. Business, Form and Auto F. H. A. »nd O. I. I.eatu <m New and F.ufstinjc Home* LOANS For buying, r«fin»ncmr, huJlrllnff* remoflrtln Farm lunch; and Auto loans. Quick Service. UNITED INSURANCE AGENCY 10« S. Isi—Ingr«m Bldjr.—Orounrt Floor Phone 510 A. F, "Dee" Dietrich, Managnr ''Complete In*iiiranc« SeYvice" New Ferguson Home on Hearn Street Rags-to-Riches Speculator Sued For $30,000 Debt NEW ORLEANS, April 13. (UP) — Itny A. Graliam of Now York sued Thomas Jordan, the fabulous Shown above is the home recently built Hi,d occupied by Mr, and Mrs. Jo^ FCIRUSO," al"^"^™ "TUC two-story brick veneer house contains 'seven rooms and U'o hathronms. Floors in the new Ferguson residence are ninde of oak and the walls are plastered. The house is heated a hot wntcr hrntiug .system. The rear portion of the one- s u,ry projection on the wc,t .side of (he h,,,, w is a furnace roon, anrt the front " rCS ° " n " ntahCd - Mr> *"" Mrs ' meilson 1)lan l « <"»>™» thi. space Into a small doumtMr. by Mr. pcrjiusoH'ls owner and operator or The ruff, no south Second. Home Financing and Mortgage] Re ° ! Estate Debt Reach New Highs in 1947 Home llnanctiig activity nnd (lie lolnl moi-t|:nj!p debt oulMniKtiiiR on the nation's homes rose to new liigli levels In 1047, by-producls o! Hie strength of the dcumnd [or llamas and rc.ststoncc of Inflnttou- nry pressures In til!.? lill|K>rtnnt segment of I he economy during the ycnr, according to data compiled Home lann Bnnk , b v the Federal Administration. The Inflntlonnry trend in renl c.stnte Is oC direct concern to million* of families who would like to buy a home of their own nt prices within their menus nnd without going too deeply Into itelH'in relation to their financial resource.s. Them is considerable concern that ! "lortgnge some families who acquired homes at prevailing high prices may have stretched their budget heyoiiri prudent, limits, thus .viototin'g the No. I rule that -every prospective home owner should always keep in mind -Don't buy n costlier home ' than you cnn afford. ' Evidence of Drill Rise An overall sign of the debt lii- WHIons. Tliiw nonfarm home mort- | Ruge debt haX risen about 50 per i cent since the em] -of the war. 1 Another Indication of the debt I trend i s tlic further gain in the nverage sl/.e of new home mortgages recorded during the vear. For ! 1347. this average was $4,512. a new < hlRh, ns against,, nn nverngc of j , S-I.JOfl in 1946. Th nverage In [Furnished |iy l| IC Terry Abstract anil Really Co.) The following real estate tiaiss- ! fers were recorded last week: j Roy and Jamie, Smith to H. B I and Sarah Elizabeth Wright re.sl- I deuce. 1SOO Block Hoily St.. $5250. I Samuel Be Wilt and Beulnh ARIICS i McOee to Lt, Paikhuist and Ernu i Ucli I'nrklinrsi. RIOCCI-.V store and residence, 400 block Cenictcrv Road. SH.030. L. IV and Htllh E. Eich to Alton' B. and Gladys Jaggcrc. residence. $11,000 and A number of factors accounted for the rising debt and home fi- iiaiiclng activity last year includ- ", crease Is provided by Hie Home Loan .'" g " lc J> c '™rtcnt demand for extst- Ilank Administration's preliminary m S 1'oines due to the housing sit- estimate that the total mortgage: "l vtl<1 "'_ the accelerated rate of res- debt, oiitstniiriliiff oti nonfnrm homes rose to tile neighborhood of S30 t'llions by the end of 1947. 'i'\'.i Indicates an increase in this debt of some $5 billions over the total of $24.6 billions outstanding at the end of 1946, HID biggest annual rise was $2.722, Indicating a two-thirds Increase In seven years. In thus .connection, it Is significant lo note that'the I!M7 monthly peak for the i 1000 block Holly SI average size of new mortgages was , exciiancc of property" :H;;?=s;!»Sr-,:i'~---.^~?s,» mortgage loans of S20.000 or less taken out on one-to-folir-familv nonfarm homes reached $11.4 billion. 1 ; for the year, a gain of nearly 10 per cent over the previous high of S10.-1 billions in 1945 and more than three times the 1939 total. Factors Itchiml Itisc number , record, nnd it makes the two- yenr 1946-47 incren.se around $10 pensive nnd skimping wastes time and money. Buy reputable paint, do not thin it too much or try to get by with fewer coats than recommend- ' ed. Hard drying paints cause crack- | Qil ing and peeling which exposes wood I Wil to the weather. It takes time and patience lo get the right results In paint Ing. , idential Construction, ijph building costs, further advance in real estate prices which were reflected In larger mortgage loans, and the substantial number of high percentage GI home loans. While 1947 saw new highs established in home financing activity and In the average of new home mortgages, the monthly rise last year ivas slower than the monthly rise the year before. lesidence, 40fj block South Franklin. 55500. i P. S. nnrt Hester Shoffncr to Jes[ sic Smith. Lot 5, Hlock 4, May bell 1 Subdivision, $425. I « T . C. and Marie F. Cox lo F. R ! and Lorene Fricsc. residence. Lot 1. I Block 12, Bngg Addition, 510 anrt other considerations. 1 Harry and Emma Jane White to [ Lonnie and Nola Batemr.ii. rcsl- • donee, SOO block Ijimienile. $2000, | Susan Mnore to Daisv Vaughns. 1 Lot In. Block 5. W. W." Holli|)ctcr. Second Addition. S2CM). Alton B. and Gladys Jat;eers to L. B. and llnth E. Eich. residence. 1100 block Hcarn St., exchange of property. Tcimic Scarlett to Edith McDaniel. Lot 4. Block 4. Chicago Mill Third Addition. $1,00 and other considerations. - \\ c Kpcommciul 'iMicse (liialily 1'airtt Pioducfs Vane-Colycrr's Whiles! While THREE GREAT REASONS lor PAINTING • PRIDE, BEAUTY PRESERVATION • THIY ADD UP TO BETTER LIVJNG House Paint USE Flat Wall and Quick Dry Knamc-1 Also Borgain Prices in Qualify WaHpaper E. C. Robinson Lumker Co. 319 West Ash St. Friendly Building Servic. Phone 551 Durinq Last Year Exceed 820,000 Will] snles of oil burners in 1947 exceeding 820.000. the totnl nn>.:)>cr (>/ oil burners now in operation in the United States Is over 3.500,000 according to the Phimhing and cnihiK Industries Bureau The .continued demand 'for oil burners in 1!)48 Indicates that hent- inj; \vith oil lias .sironp populnr appeal, despite temporary winter shortages of fuel oil caused by trniuparlnilnn Xifftcitltics and the. lack of bulk storage. Popular interest In oil burners nnd in new developments In boiier- burner and furnace-burner units was shown at two national exhibits during the height of the fuel oil shortage. Neu- types ol oil burners, controls, nnti oil burning boilers and furnaces were shown at the exhibit of the American Society of Heating and Ventilating Engineers in New York nud the National Association Head Courier News Want Ada. of Home Builders in Chicago. Indicative of the confidence . of the trade in the future of oil heating is the fact that nil apace has been sold for the '!5th anniversary exhibit of lh c Oil-Heat Institute in Chicago this month. Because new oil burners set a high standard of operating efficiency, the industry will, in corn] ing months, devote much of its attention to the replacement of obsolete oil burning; equipment and other changes to increase (he efficiency of existing installations. Superstitious? you can walk undne a ladder and not Kara bod lucV. —Bui don't lalt« chonc« with the paint you u»«. ' For YBCTTH Mooro'a Kous« Pain! lias been proven dependable for protecting and beautilyina hom«A and bulldinq*. * You ar« ensured o< a 9000" paint Job when yoa "U»« Moan Paint.-*' HCR. lisi price Sfi.50 • Now Only $5.50 Gai. DEAL'S PAINT STORE 109 E. Main Phone 4469 Something NEW AND BEAUTIFUL for yonr windowsl VINITIAN BLINDS » Lighter. . . 1/ s nary hlin.U. wcifihi of ordi- in.ttiuioth finish I mlor, ..nMi\t ri f (Incible )o l.tM A Jif^tm«. finish won'l chip, clcAiunjt simple and quirk. • Cmfnnt m.ule lo fit \nnr ivimjinvi. Rrinj; ynur mcJiuircnicn» in tn- <i.*y ... Flexalum'* lo\v cost will nuprisc you. DEAL'S PAINT STORE 109 I. Mom Phone 4469 ) d;<y dan failed to repay » loan h« got «'lien lie was "financially pressed." Graham filed the cult In civil dis- tiict, court. He said Jordan telephoned him in Nea- York In October, 1946, and asked him to lend him some money because he was "financially pressed." ' Graham said he mailed him • check (or »30.000. Last January, he «.. .^..Liii,,,, for said, he demanded repayment In nargine that Jor-a restored letter. That request »nd other*, h« uld, had bffn It-, nored, Under New York lav, Gn-m ham said, he I* entitled to an addl- tlonal six p«r «nt from tim« at demand. ' Enough gasoline and oil to meet the nation's* total demand lor 1500 year* can be manufactured from only a quarter of eur known c.oal reserves, according to recent »ci- entlfic estimates. Plumbing and Heating • Pipe • Bath Fixtures Fittings • Volvei • Kitchen Sinks • Electric Water Heaters Furnished and Installed "Pete" The Plumber 109 North First St. Phone 2731 What Was He Looking For? Diogenes, an ancient Greek philosopher, has been erroneously accredited with roaming the streets of Athens.in search t>f an honest man. The truth of the matter 1^, Diogenes used his lantern looking for « good electrician! No Need to Look in Blythevill* Just PSont 2993! "Serv/ce is not our Motto, It's our Business" CHARLIE'S ELECTRIC SHOP 116 North First Street Phone 2993 it's BLENDED as Carefully Doctor's Prescription Special Blends 2. Cl,n. Cr,',?Tia» *><>' Sift Ril/ir 3. r,mj Trim <7»r«r* <*.f. [In Colors or White ... B/ended faint Sfoys Bright The World's Best House Paint! • The Cheapest to Use • Goes Farther • Stays Whiter • Last* Longer Call Us For a Free Estimate! ARKANSAS PAINT GLASS & WALLPAPER COMPANY 105 East Main Street Phone 2272

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