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Newspaper
Lubbock Avalanche Journal
Location
Lubbock, Texas, United States of America
Date
Mar 09, 1958
Page
11
A list of recent Lubbock closings shows multiple residences sold this week with prices and details. Buyers include Mr. and Mrs. Bill F Horn and Mr. and Mrs. B. H. McDaniel, among others, purchasing homes on 47th and 41st Streets with brick veneer or frame construction.
The February 1958 MLS report from the Lubbock Real Estate Board shows 53 homes sold, 83 listings processed, and total volume of $657,149 with an average price of $12,580. Comparisons are made to January 1943 and February 1957 figures.
Charles E. Colson, special agent with Trinity Universal Insurance, awarded Outstanding Field man of the West Texas division. Numerous residential projects listed with builders, addresses, and costs, detailing homes at 43rd Street and nearby, with three to four bedrooms, two baths, garages, central heat, air conditioning, and various finishes. Construction values range around 6,980 to 14,600 dollars across multiple properties in the area.
Hobbs reports a surge in last month permits led by 45 new homes. Total permits reached 423600 versus January's 400035. City inspector W R Grayson notes strong residential activity in the northern district.
Dallas executive vice president Moore announces the association will outline its program of work and show films on furniture promotion. Eighteen more meetings will be held statewide by March 14 to finish before the state convention in San Antonio from March 30 to April.
Clarence R Solnick announced the formal opening of Bentley's dress store in Lubbock at 1106 Broadway with a focus on affordable young fashions for career and college girls. He relocated his family from Enid Oklahoma and has a long career in ready to wear across several Texas towns.
Claude Adams of General Telephone Co. announces construction of a new Tahoka dial telephone building at 1601 Conway. Commercial Construction Co. won the contract and work begins soon. New unattended dial equipment will modernize Tahoka’s service with a city prefix change and a late 1958 dial rollout.
Reese F Barone has been appointed sales manager of the West Texas Division of John Deere Plow Co and will relocate to Dallas. Barone served 3 1/2 years in World War II and joined the company in 1934. In Lubbock, the Barone family attended the First Christian Church where he was a deacon.
January 1958 contracts totalled 2.97 billion, down 10 percent from January 1957. Non residential Building contracts fell 17 percent with manufacturing facilities off 53 percent. residential contracts slipped 5 percent with 63,121 dwelling units. Heavy engineering dropped 7 percent as public works sagged, especially in the Far West.
Activity paced totals show five foreclosures and three foreclosures with listed amounts and transfers across several deeds of trust. Medians and building permit totals are noted with year over year figures for date comparisons and permit values.
In New York cotton futures closed higher for the sixth consecutive week despite a drop from intraday seasonal highs. Gains were supported by opposition to price supports, expected acreage cuts under the soil bank program, and hopes for acreage-limiting legislation for the 1958 crop. Old crop deliveries stayed firm as March options rose amid concern over good grade shortages. Agriculture Secretary Benson questioned claims of a high quality cotton shortage and critiqued a proposed 30 percent allotment rider.
New York March reports say the Federal Reserve will trim discount rates to spur borrowing for business and consumer needs. Senate action aims to boost housing via government insured mortgages and a $1.85 billion fund, plus extra highway funds to create jobs. General Electric plans a one week plant shutdown, while instalment debt drops but personal loans rise, reflecting uneven demand in a lingering recession.
Plans to begin construction Monday on a 13 story Midland office building were announced by the Midland Savings and Loan Co. owners Joe McSpadden and Joseph J. O'Neill and oil operator Walter Duncan Jr. of Oklahoma City.
Market brief notes Kansas City livestock on March 8 show steers and heifers trading mixed versus last week with gains for some cattle while others lingered. Reports from Chicago and regional exchanges indicate steady demand for choice cattle, with woolen fats and lower quality lots moving more slowly.
A college reunion anecdote praises The Wall Street Journal for boosting income to $250 a week. The ad targets salaried workers, small business owners, and ambitious youths, claiming daily business and Washington news from a Dallas area subscription offer.
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