The Guide

JOHN INMAN, general manager, of Deel Ford in Coral Gables, presents keys to a new 1961 Falcon to Mr. and Mrs. Robert S. Jones, 4900 Suarez. Jones won the Falcon in a recent contest by best describing what he thought are the three most important features of the '61 Ford.

Caster Tells League Savings, Loan Resources Will Grow To Billions

In a message to the membership, George B. Caster, Florida Savings and Loan League president, predicted last week that the state savings and loan present resources of $3 billion will double in five years and total $10 billion by the end of the decade. "This, in spite of the fact that the 'sizzling, soaring 60's' haven't sizzled or soared as much as we would have liked them to at the beginning of the decade," he said. Caster, president of Coral Gables Federal, spoke to representatives of the 111 League members in convention at the Colonial Inn, St. Petersburg Beach. Percenters On his list of competitive factors for savings and residential financing he listed "the so-called 8 percenters, which have mushroomed in the past year ... apparently thriving here in the St. Petersburg area, and to a lesser extent in other parts of the state. "The very fact that so many of these companies have sprung up in the past year, ndicates that they have been successful in obtaining money from the public despite the ambiguity of their advertising. "In many cases, it would appear that these companies place the funds entrusted to them in second mortgage paper, or in extremely high percentage first mortgages, and that investors must rely for security primarily on statements that their funds are insured against loss 'for any reason whatsoever.' "There is a public interest involved here and unfortunately these companies apparently are presently exempt from control under state security laws. "The office of the Attorney General of the state of Florida has been studying these new investment companies, and perhaps the forthcoming session of the legislature will take steps to establish some type of effective control over their opertaion," Caster said. Another competitive factor mentioned was "the continued efforts of the commercial bankers to obtain a change in the tax status of our business." He said if successful "it will result in weakening the financial structure of the nation's only specialists in the field of thrift and home financing." On the plus side Caster pointed to savings in Florida associations that increased by $407 million this past year. He said public faith and confidence brought them the 1.2 million savings account holders now in these Florida associations.

Thief Cleans Out Bowling Fan's Equipment

A thief did not spare Dr. M. L. Ebelmesser, of 1212 Alberca, in stealing all his bowling equipment. The victim told Coral Gables police that two bowling balls, two bags and a pair of men's and women's bowling shoes valued at $80 were stolen from the rear seat of his car while parked at 341 Malaga.

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South Miami Council Approves Store Building

By EDWIN KNIGHT South Miami Council Tuesday night approved setback and parking variances opening the way for a one-story, four store building on the corner of Red Road and SW 73rd St. The site adjacent to the Crossroads Building, on the corner of Sunset Dr. and Red Road, is being taken over by Miami Beach developer David Balogh for construction of the corner building slated to cost over $100,000. Construction is expected to begin within a month. In other action, Council passed a resolution approving a non-conforming sign on the southeast corner of Sunset Dr. and 62nd Ave. where a skyscraper office building is expected to be constructed soon. The three-dimensional sign will be used to advertise prospective office space in the building which is slated to cost $1 and a half million. Council also: APPROVED the purchase of an offset duplicating machine for the Offices Services department from Addressograph-Multigraph Corporation, 1650 Coral Way for $1,723. REFERRED to the Planning and Zoning Board a petition from E. B. Brown for a special use permit for one of three stores Brown owns in a building at 6470-6490 SW 62nd Ave. Brown had previously requested a rezoning from a C-1 to a C-3 category. REQUESTED of City Manager C. B. Petry that he notify Dade County of debris and high weeds in Brewer Canal that have accumulated since Hurricane Donna. AUTHORIZED the expenditure of $250 to Attorney Hughlan Long for services long rendered in appearing several times before Metro Boards to seek lower water rates for South Miami.

County Building Dips Sharply, But Cutler Up

Four builders in the Cutler Ridge area have contracted to purchase 196 lots during the past 90 days. The total value of purchase is in excess of $500,000. Mark Manor Homes accounts for sixty-one of the lots located at Venetian Point. Crossroads Construction Company have bought eight. Newport Building Corp. acquired 27 lots. Both Crossroads Construction Company and Newport chose the Cutler Ridge Pines for their purchases, as did Citation Homes who purchased 42 lots in this area. In the same Cutler Ridge Pines area Mark Manor has also acquired an additional 29 lots. These same builders prior to the above purchases account for more than 700 additional lots in Cutler Ridge. Florida Water and Utilities which supplies the Cutler Ridge area with water and sewer service states that, contrary to the general decline in home building its rate of hookups of new customer units has increased year by year. In 1956 nd 1957 it hooked up an average of 30 customer units per month; in 1959 an average of 75 customer units per month. For the first half of 1960 it has serviced an average of 112 customer units per month.

Brass Key Apartments Purchased By Gableites

Brass Key Apartments, located two blocks from the South Miami City Hall at 7019-29 SW 61st Ave., has been purchased by Edna and Joe Stein, of Coral Gables, for $48,000 for the eight unit, 1-bedroom furnished apartment building and two adjoining business lots. Seller of the property was Jack Stanton, of South Miami. Mrs. Stein is a well-known Coral Gables interior decorator. Cliff Suchman and H. A. Hooper of The Keyes Company's Kendall office cooperated on the sale.

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Jaques R. LaMarche Wins Scholarship

Jacques R. LaMarche, 30, of 1652 SW Ninth St., has been awarded a $1000-plus scholarship for the study of exfoliative cytology by the American Cancer Society through the society's Florida Division and the Dade County Unit. LaMarche enrolled at the University of Florida for a six-month taining course in cyto-technology on Oct. 10. He has lived in Miami for the past five years, attended the University of Miami and, previously, the University of Ottawa in Canada. LaMarche will graduate on April 10, 1961 and will work as a cytologist in Florida for at least a year under the terms of the scholarship.

George Hutton Named 'Leader Of The Month'

George R. Hutton, 3362 SW 6th St., has been named "Company Leader of the Month" for September by the Fidelity Bankers Life Insurance Corp. Hutton is associated with the Coral Gables office, 401 Miracle Mile. Hutton is a member of the Florida Association of Life Underwriters and is a director of the Coral Gables Jaycees. Last year he received the Dressel Trophy for the outstanding Jaycee of the year.

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