The Coral Gables Times

A BULLDOZER drags away these roots, all that remain of the stately pine and ficus trees that were chopped down to make room for a 179-car parking lot on the site of the new Publix Supermarket. A passerby watches at the corner of Le Jeune Road and Valencia Avenue. (Staff photo)

Riviera Boosts Building Totals

Expansion of the Riviera Country Club and a new commercial building gave a sharp $415,550 boost to building activity in Coral Gables last week. Alterations and additions to the country club accounted for $184,000 of the total, with a store building by Shell City Inc. accounting for $80,000 more. Other permits, none of which include land values, went to Milton Korotkin, 6001 Riviera Dr., additions and alterations, $10,000. W. L. Philbrick, 3901 Alhambra Cir., alterations, $250. Flagler Homes Realty, 500 Madeira Ave., screen addition, $400. Henry Scheverman, 117 San Sebastian Ave., residence, $19,000. Milton Korotkin, 6000 Riviera Dr., pool, $3,500. K. G. Acct. Inc., 672 Bird Rd., residence, $17,500. K. G. Acct. Inc., 664 Bird Rd., residence, $19,500. Mr. and Mrs. I. G. Rayburn, 935 Andres Ave., screen porch addition, $1,500. Mr. and Mrs. William L. Huntley, 4700 University Dr., residence, $46,000. C. P. Davis, 25 Morningside Dr., addition, $2,900. Stan V. Hume, 400 Genoa Ave., residence, $16,500. Stan V. Hume, 909 Milan Ave., residence, $14,500.

Hotel Date

The city's new 200 room Holiday Inn hotel should get underway around June 1, owner Ben Gaines said yesterday (Wednesday). Architects are McKay & Gibbs. The facility will be located on South Dixie Highway just north of University Court Motel.

At Stock Houses What Affects New York Market Affects Us, So Business Is Off

By SANDY CALPINI Correspondent Like elsewhere in the nation, business in Gables stock brokerage offices is own considerably this year over last. The loss is as high as 30 per cent in one house here. Unless made up with other departments, this means, in effect, a 30% decrease in income since stockbrokers earn their money through commissions on sales. In a story last week, the New York Stock Exchange was noted as being 30% under last year's volume on the number of shares bought and sold. Goodbody and Co. here says its listed stocks (New York or American Stock Exchange companies) is down 20% "However," says manager William L. Shaw, "profit-wise we are running substantially the same as last year because of our regional departments." The unlisted or "over the counter" securities, part of regional departments, shows a 50% increase this year. Shaw said. Others include municipal bonds, up 100%; new stock issues, 100%. Shaw's sales force has been increased 50%. Prediction from Goodbody and Co. for the next six months is for a "continuing increase in staff and volume." Hayden & Stone's Gables office reports that business is off 20%. Manager Monton E. Harwood stated that both staff and expenses have been cut. Brokerage House H. Hentz & Co. reported business has been down 30 per cent over the last four or five months.

Selectivity

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