Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-08-30
BIG BUSINESS
AFRAID, LITTLE
FRY CHEERFUL
Spillane Finds Peculiar Con-
ditiOns Existing at
Toledo, Ohio.
ONE CONCERN IS GAUGE
When It's Going Full Force
City Hums-Reverse
Holds True.
ONE CONCERN IS GAUGE
Special TO Indiana Daily Times
and Philadelphia Public Ledger.
BY RICHARD SPILLANE.

and PhiladeIphia Public Ledger.
BY RICHARD sPlLLANE.
TOLEDO, Aug. 3O.-Toledo is
peculiar in that many Of its big busi-
ness men are pessimistic while many
Of the smaller business men are quite
cheerful. Bankers talk dolefully. One
of them said he feared there would
be little employment and much suf-
fering this winter. At the same
time he acknowledged that money
was easier. Men with small industrial
establishments varied in their view.
Some saw distinct improvement,
while others thought it would be
early in the new year before there
was a decided turn for the better.
An explanation Of this may be found
in the fact that one concern, the
WHY'S Overland. far outranks all others
In size in the Toledo district. and 1t Is
not doing much The other industries
are greatly diversified. Some Of them
are dependent on the WHY'S Overland
When the Overland is working to full
capacity the city huns. When 1t lags
the effect is Lroad. Today the Overland
has less than 5000 at work. At one time
It had 1900. But the efficiency Of the
worker has increased considerably. Il is
estimated that on the present basis Of
production 1900 men would do what for
nerly required a force Of 1900.
HERE'S HOW OTHER
INDUSTRIES STAND.
OF the industries other than the Over
land here IS how they stand todady;
sash, door and mill plants. some work
Ing to capacity. others doing a salts
factory business
Paint and varnish plants. excellent
Trucking concerns report g noticeable
increase in hauling.
National Cap Manufacturing Company,
which has trade in i've States, increas-
ing force OF workers.
Kerscher Elevator Company, little
business beyond repair work.
F Meigs Envelope Company, fair
amount Of orders.
Howell Emerson Motors. little business.
Caslon Press largest printing estab-
Hshment in the territory. business men
Dutsise Toledo sending IN orders and
showing confidence. Business men from
Toledo houses slow. August orders bet
.or further Improvement.
Grain drying machines. very dull
Metal wheels (for baby carriages and
children's vehicles) slow.
Coffee roasters. duh.
Canvas goods manufacturing, fair.
shipyards, dead.
Furnace plants. running on reduced
schedule.
National Malleable Castings Company,
very dull.
Champion Spark Plug. doing quite
well.
Toledo Scales. fair.
REAL ESTATE MANS
HISTORY REMARKABLE.
In the face Of this rather discoura ging
condition a real estate man, George b.
Rfcaoy, has made q remarkable showing.
Real estate was as fat as a pancake
when he started TO advertise property IN
e development he has under way. He was
very plain IN his statements He said
he didn't want buyers who did not in
tend TO build and he didn't want buyers
who were unable to carry out their con-
tracts Toledo was a pretty decent sort
of city to live IN, but it was short of
houses and a housing shortage penalized
not only the city but the worker.
man who owned a home was better
citizen generally than a renter. He was
more stable and naturally became thrifty.
He asked the people to come out and
see what he had TO offer.
They went. His property is being laid
out with wide boulevards well severed.
good sidewalks. good roads. electric con-
dufts underground, etc. He got together
an organization OF 100 saleSmen and In
less than five weeks he has sold S313, ,45O
IN home sites.
Bankers and others speak highly OF
Mr.. Rickahy and they say hes a con-
frmed optimist," as il you must take
that into full consideration when view
ing his performance.
Rickaby laughs when told Of what
they say.
Its time" he adds, ''I am an optimist.
What led ne to have faith In the sue
cess Of this undertaking was the knowl-
edge that the American people-Tm
speaking of the vast majority Of city
dwellers-are more receptive today to
thought Of home buying. home building
than ever before. High rents have forced
them 10 work for a way out. They are
not so prone to speculation. Many. very
many, have learned the cost Of gambling
in oil and other stocks.
RENTING SYSTEM
HELD A BANE.
"If q man is going to live In Toledo
and rear a family he owes II to himself
and his family to provide a home for
then. This renting system has been the
bane Of our national life. AS a matter
of good citizenship and good business
I believe bankers should lend every en-.
couragement to home builders and make
the costs TO them as low as possible.
Men who own their homes are not OF the
class in which bolshevists flourish
Rents Will not come down unless we
build more houses. The supply does not
equal the demand here or in any other
city. ! do not know that material and
labor costs are as low as they are going
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