Evening Star Newspaper, November 26, 1921, Page 13

R’EA\L' \INGOME TAX CLAUSE ~—HAILED AS BENEFIT mption of $300 Derived From Building and Loan . Dividends Discussed. s 1 I S e ADDS TO INVESTMENTS C. Clinton James Foresees Greater Business Volume Due to the Enactment. \ttention of local building and loan associations is being directed to the provision contained in the new income tax bill which exempts the first $300 income derived from divi- dends in a building and loan associa- . tion from the income tax. The pro- vision is being pointed out by C. Clinton James, president of 7 the Building and L Association Coun- ©il of the District of Columb The exemption clause means that an investing membe of a building and loan as ation can invest be- tween $5,000 and $6,000 in building and loan stock and will not have to pay inc taxes on that amount. The ion of law reads as fol- low much of the amount re- ceived by an individual as dividends or interest from domestic building and loan associations, organized and operated exclusively for the mutual Lenefit of their members, as does not ‘exceed $300." Purpose Is Explained. The purpose of this amendment to the new income tax bill is to en- wourage greater investments in the shares of local building and loan so- :‘Irl in the country, in order that ihese institutions may be enabled to more adequately meet the demands made upon them by members desir- Ing to build or purchase dwelling houses, and _thus, while promoting systematic thrift, to relieve the hardships caused’ by the housing Learcity, and stimulate the greater employment of labor in the building industrie 2 “The chief and fittest agencies that exist for financing small house con- struction and purchase are the do- mestic building and loan associations of the country.” Mr. James state: “There are nine thousand of thei +and they are scattered from coast to coast, the aggregate membership exceeds five million men, women and children, almost invariably persons of small or moderate means. They deal Exclusively with the small home- sceker, who is most affected by the housing scarcity. The United States League reports coliected from every pection of the count show that the cekers last year institutions aggregated more than $500.000.000. The reports are invariable at the present time, D’IU\A"YIF t the association: for lack of adequate loaning funds, are obliged to disappoint thousands of families seeking ownership of their homes through this system of self help. . Not Likely to Reduce Revenues. “This exemption is not likely to re- duce public revenues to any app: ciable extent, but even if such was the case the law would justify itself for the reasons stated. Loss of reve- nue is -by no means to be assumed. Rich speculators cannot profit by th exemption, since not more than $300 income during any one year is af- fected. On the other hand it is quite possibie that it will produce a con- siderable increase of investments in building and loan societies, and the indirect effect would be an increase of public revenue, municipal, state and national, through the greater stimulation of the building industries throughout the country. “This stimulation will be felt Wy manufacturers of all sorts of mate. $7,650 to $9.250. Central with lots 75 feet front. daily. Take 11th or F or ) Monthly ~ Cash L8087 £1.500. 5 000, group lots and villa and other public utilities. farther out sells for. Some des gtion. Home, 2727 Conn. ave. at cost. NCE 1898—4NO PLAC LIKE ESTATE. HOMES PREDOMINATE IN SALES OF REAL ESTATE William S. Phillips’ Weekly Sum- mary Discloses Ten Purchases. Homes sales predominated In the weekly summary of sales made through the office of William 8. Some of the transactions Morris Bassin __purchased from Aileen M. Callaghan the home which was recently completed on the south- east corner of Connecticut avenue and Shepherd street, Chevy Chase. Marie E. Schofield purchased from Sophia R. Harris the detached house at 2911 Porter street northwest, con- taining seven rooms and having a large lot with a garage. Charles_Grumman purchased from Charles W. King one of the houses recently completed on Buchanan street, premises 1303. Emma J. Mascord purchased one of Winfield Preston’s new houses at 1418 Spring place northwest. This is a row house of brick, containing six rooms and bath. Mrs. Grace Ksanda purchased from Clara S. Brengle premises 1417 Mon- roe street northwest, a home of six rooms, located in Mount Pleasant. Capt. Charles E. eal sold premises | 1440 Oak street northwest to Rex J. Brown. Homer W. Cooper purchased from R. B. Warren a new detached bun- galow at 2814 20th street northeast. Samuel A. Schneider purchased from Mary D. Carter the two-family flat at 1337 D street northeast, each flat containing five rooms and bath. Isadore L. Beakowitz' purchased from Milton E. Bruner the six-room and bath brick house at 519 Harvard street northwest. Alexander Caig purchased from Clapa E. Baker the detached home at 2021 24th street northeast. Northampton The Upman & Adams are the architects. VARNUM STREET HOMES, VALUE $250,000, SOLD Various Styles of Construction Em- ployed—Houses Located Just tached house in Brookland, contain- ing six rooms and having every mod- ern convenience. i e B LAND TITLE CONVEYED. Site Will Be Used for Ntw Col- ored Catholic Church. Papers were recorded this week deeding a tract of land fronting on New York and New Jersey avenues west have been sold by L. E. Breu ninger & Sons, it is announced. Mos of them were purchased before com pletion. Twelve of the houses were built ir some detached and others semi-de tached. They are located just we of 16th street. The homes ranged i price from $17,000 to $30,000, the total operation involving about $250,000. Among conveniences in the build ings are inclosed breakfast or conservatories, drawing of the proposed Chevy Cl d MecKinley streets, about a block from the cir ating capacity will be 1,150 persons. BLANTON ASKS TEXANS By th BALLL 2 Representative Thomas L. Blanton, THE -EVENING STAR, WASHINGTON, D. C, SATURDAY, NOVEMBER 26, 1921. to be erected on Connecticut avenue between . by the Chevy Chaxe Amusement Corporation. be a baliroom, with a capacity of 500. nse Thenter, Above the auditorium will \RESIDENCE PROPERTIES TO ELECT HIM SENATOR| SOLD BY BOSS & PHELPS | ted Press. ER, Te: he Assoc! | Total Transactions of Real Estate | Firm During Week Total n November WARDMAN PLANS [Given Permission to Build i necticut _avenu Dr. Hardee E. Chambliss purchased West of 16th Street. from Earle E. Mottern premises s 16th street northeast. This s a de- l\yeen 16th and 17th streets north- various styles, some being attached, rooms inclosed sleeping an address here, reviewed his record | in the House, the recent attempt to $110,000. expel him, and declared he could bet-| < ter serve his constituents in the Sen- Ten residence properties, valued at te, and would make the race if the |$110,000, were sold this week through | “people pledge their indorsement.” | the office of Boss & Phelps. After speaking more than two hours| A detached home at 307 Rosemary audience by a rising vote indorsed | street, Chevy Chase, Md., was pur- enatorial aspirations. | chased by Henry M. Seeley, the prop- jerty being owned by John ‘W, Lynch. b The house is of frame construction, | containing seven rooms and bath, with ¢ AUCTION SALE OF LOTS. | modern improvement 1 t n his n nna C. Bruen bought a home at | 1457 Girard str€et northwest from Sam | Goldberg. The improvements include |a three-story ten-room brick house, heated with hot er, having two | aths and electric lights, and situated Auctioning of 200 lots in Marietta Park, a subdivision located between Longfellow and Rittenhouse streets and 4th and Tth streets northwest, began this afternoon at 2.30 o'clock in the Arcade, 14th street and Park Jocelyn street; cost, $60,000. son stree! a APARTMIENT HOUSE $400,000 Structure at 24th and Calvert Streets. Permission to construct a three- story apartment house of wide di- mensions at 24th and Calvert streets northwest, at an estimated cost of $400,000, was given Harry Wardman this week by the municipal building inspector. The permit issued Mr. Wardman shows that the proposed building will have a frontage of 215 feet and a depth of 192 feet, covering an area of ground totaling about 41,280 square feet. The materjals used in construction will be brick and con- crete, the records show. It is under- stood that the construction depart-| ment of Mr. Wardman's firm will car- ry out the project, and that Wardman v v the architects. & WA R ther large housing projects were provided for in the list of permits issued this week. The permits, in part, follow: 5 F. G. Carpenter; to repair 1223 Con- cost, $2,000. C. L. Pilzer, to erect garage rear 410 ¢ street southeast; cost, $1.500. Gus Bleckman, to repair 700 H street . K. Cfig,::‘t;ni.' to repair 222 9th e o Coward, to bulld 2014 Mon- Toe street northeast; cost, $4,000. Allan E. Walker & Co., to build fiv. homes, 5302 39th street and 3901-3915 181 Leroy Clements, to build 3707 Harri- ; cost, $3.000. W. A. Boss, to build two homes, 5406 39th street; cost, $13,000. Republic of Mexico, to repair 16th street; cost, $10,000. - pt. C. C. Calhoun, to build , 820 14th street; cost, $20,000. & Hopper, to repair 1802 1ith cost, $3,000. W. Brandes, to build, 35th place; cost, $13,000. United States Storage Company. to Buys G Street Building. Structu #old to John L. Vogh for J. K. { ki thro & Gons for $75,000. W. BRANCH REALTY OFFICE 2714 |Expects to Establish in Clinton, Md.—To rorthwest to Rev. Michael J. Curley, Archbishop of Baltimore, for use as rooms on the second floor, plastered basements, marble showers, hardwood | road. Joseph P. Day of New York was the auctioneer. }on a lot 20x140 feet. James J. Burke sold his home at Be Sure to See OQur SUNSHINE HOMES MICHIGAN PARK 12th and Michigan Ave. Over sixty sold. Exhibit open “Brookland” to end of route, 5 and 7 Room Bungalows Sont! 1y - 360 AVENUE PARK - THE IN TOWN SUBDIVISION Consisting of several hundred wooded acres of individual lots, tes, miles of improved streets, sidewalks th ) Bounded by Mass. ave. west of Sheri- dan Circle, Woodley Road (Cathedral Ave.) at 32d St. on the north, Rock Creek Park on the south and adjacent to the beauti- ful Conn. ave. bridge on the east. finest home sites in the city and, under the new managem offered at prices no more than hign-class suburban property miles €all or write fo- illustrated book and prices. Buy now and plan your “Dream Home” from $12,500 to $100,000, according to loca- A plat of this property is also exhibited at our Sample Open to 9 p.m. 3 , two showers, breakfast and sleeping porches, chauf- feur’s or maid’s room with bath, single or double garage Delivery ahout December 15th. Built, Owned and For Sale by " MIDDAUGH & SHANNON, INC. = enth Floor, Woodward Building, 15th and H Sts. Main 6935 We Want in Cleveland Park District A large brick home, center-hall plan, five or six bed- floors, clothes chutes, shoe racks, etc. The firm announces that it is erect ing a new group of seven houses of the same type on the south side of Varnum street, in the same Six of the homes tached. on lots thirty and one will be detached, on fifty-five feet wide. This group will be ready for occupancy about Febru- ary, 15, 1922, it is estimated. —— JOINS REALTY FIRM. | F. B. Hoag Made Controller of Walker Investment Company. Frank B. Hoag has been made con troller of the Allan E. Walker In- vestment Company, it is announced. Mr. Hoag was a bank examiner in New York state for six years and formerly ‘was general auditor for a radiator company. Two other men added to the per-! sonnel of the firm are James S, Grove and R. W..Weston. Mr. Grove, for-| merly with a local electric company | and several large construction com- panies, has joined the Walker com- pany in the capacity of engineer of | construction, Mr. Weston has been | assigned as assistant architect fo] Chief Architect Robert F. Beresford. : He was formerly engaged in archi- ! tectural work in Philadelphia and ‘with the Dupont Engineering Com- pany. Wilmington, Del. There are now about sixty employes the site of the new Church of the Holy R:dacmer being erected by Father Tobin of the Josephite Order of Mis- sions among the Colored. Title was conveyed through the office of J. Leo Kolb. ‘The prop eighty-two and of fifty-one feet avenue, forming an corner buildings. = = St in the construction and st 1ling houses. Rami- ons of the building industry are L‘;a:-:a y and divers that the benefit to capital and labor that would come from a general respmption of build- ing of new houses would be very great indeed. England undertook government supported agencies to provide housing, which resulted dis- astrously in waste and extravagance. along "with the demoralization of- the normal activities of private initiative and enterprise. Provides Way to Help People. “The building and loan associations throughout the country have the machinery already set up, and by this exemption Congress has provided a way of helping the people to help themselves, by increasing the in- centives for individual thrift and fn- dustry and removing the penalties that unwise taxation policies now impose upon savings funds that are employed in the creation of homes. Credit for this legislation is due largely to the legislative committee of the United States League of Local BuiMing and Loan Associations, of which Charles O'Connor Hennessy of New York is chairman and Herman F. Cellarius of Cincinnati is secre- erty has a frontage of feet on New York avenue on New Jersey “L" around the rials operation of dwel in the various office departments of | the company. | Handsome Home 1717 S Street N.W. 10 rooms, 2 baths; hot- water heat; electricity brick garage. Vacant Open Sunday -Aftenoon From 2 Until 5 Wm. P. Normoyle 810 F Street N.W. 1 hall houses and bungalows, rth Capitol street car marked or call us for automobile. 6 and 8 Room Houses Monthly Cash MontLly $1,500. 364 JAMESON-BUILT HOMES The biggest values offered in Washington today. 3801 to 3831 Kans. Ave. N. the t, is It contains unquestionabl; irable 50-ft. lots as low as $2,000. ¢ and 8 large rooms, tile bath, attie, H. W. H, elec, lights, double ' floors, lots of closet space, wash traye, merv- ant's tollet, double rear porches, wide cement front porch, built-in, heated garage with each house. Two beauti- ful corner houses of 8 rooms each. For Sale by THOMAS A. JAMESON z Owner and Builder 906 N. Y. Ave. N.W. Main 5586—After 5 P.M., Lin. 6146-W (Ask the Man Who Owns HOME; NO HOME LIKE OURS” “The Best Homes in Takoma Park” TAKOMA it the pric to divi koma Park | elec ROW OF HOMES SOLD. Sale of the row of homes erected by | o] == |al——=o|——=ol—=ln|— o ——= 1 ——ol——=lcl—=0 ol —00 [o | == p o= FIRST TIME OFFERED Distinctive Type st to Isadore 170 Q treet northws Ruderman, This i window brick house, having nine rooms nd bath, and furnace heat. After im- | provements it will be occupied by the = | purchaser as a home. # A house at 128 Maple avenue, Ta- recently completed by arence Lawry, was obtained by Ruth Jacobs. This is a bungalow type, | detached house, entirely modern, and located on a lot about 50x125 feet. A large four-story house at 26 lowa the owners of property have placed no “upset” e on the lots. which are to go the highest bidders. b~ sion is skirted part r line. ilities are av is stated t tric New Homes 1758-1768 Lanier Street N.W., One Block North of Columbia Road : Sample House 1760 Lanier St. ' Open, Lighted and Heated Daily Until 9 P.M. 1628 Argonne Terrace stree cost, $27,800. dry-cleaning plant, 1534 Pennsylvania avenue southeast; cost. $10,000. build garage, Blagden alley, between 9th and 10th, M and N streets; cost, $5.500. E. A. Smith, to build, 5426-5428 41st cost, $11,000. M. F. Moore, to build six dwellings 300-312_Kentucky avenue southeast fice Hoffman Company. Inc., to build|in by Phillip Otterback. at 3529 13th section. W. Gilbert Dent, president of th who e T water-front properties. Maryland Price Materially Reduced to Insure One of the most attractive semi-bungalows in this REAL ESTATE. 13 OFFICE BUILDINGS PUBLIC UTILITIES iLeetch Says Evolution Came as Business Centered in Resiricted Area. AGENT MUST BE VIGILANT Questions of Tenants, Repairs and Investment Returns Need Careful Study. H | | Frank P. Leetch, local realtor. ex- | plained the management of office buildings and business properties to membegsof the Y. M. C. A. course in re tate at the session this week Efficient management, he declared has become almost a profession, call ing for trained men with specialized qualifications. Mr. Leetch stated that the moder: office building was the "evolution of the centering of business in restricted areas, with the resuitant demand for office quarters. Such progress has been made in developing office build- that in cities like New York and go. buildings valued at well up into the millions are almost classed as public utilities, he said. Mr. Leetch pointed out that the the greatest question confronting a agent or manager of a building is t see that a reasonable and fair return on the vestment represented is r ceived throughout the productive lif of a building over a span of years. To accomplish this, a large organiza- tion is often required, especially in the very large type buildings. Must Be Vigilant. “Irrespective of the size of a build- ing, it is absolutely necessary tha-. the agent keep all rentable space “at i the maximum point of occupancy,” he - | told the class. “To do this requires ingenuity, as an agent must be very vigilant not to take in tenants that are undesirable. Many buildings have suffered because fly-by-nighters and other improper Dersons were per- mitted to occupy space to the discom- fort and inconvenience of other de- sirable tenants and to the detriment of the building. Next to the question of securing Mr. Leetch pointed out that commensurate with the type building is absolutely necessary To give the tenants and their patrons this service requires careful super- vision and an _eflicient organization of employes of various grad In addition to elevator service, heat and at 931 G street n xh the office of McKeever| GILBERT DENT TO OPEN Sell Farms and ‘Water-Front Properties. real te firm of Gardiner & Inc., ently acquired Mr. ner's ¢ in the firm, announced today purpose to establish a branch at Clinton, Md.. for speciali southern Maryland farms Dent and resident of 1 of will be in Mr. Dent of southern activities of ander, aryland. v “offic ident leading wiil | Charles E. Wire in_Manor Park, on|circle was brought from J. R. Beattie street northwest, was purchased by |the firm. however. continue in g Vi i Sherfdan Street, has been completed | by Laura Tyree This is a wide brick | Anna G. Prisk. This is a three-story |realty circles of Washington. nzml.‘v«r'nc'); mvu»ll.he'nl;"t\r‘e;]nAran:mr”" through the office of Willlam K. | house, containing eighteen rooms, sev-|colonial brick house, having ten rooms Dent stated that he will make|sonable and regular manne . Hartung. | eral baths, modern improvements and [two baths, hot-water heat, electri in_the firm, but that he|items of repairs and little accommo The houses contain eight rooms and |a fireproof garage holding two cars. | lights and garage. to make some addition fons are very essential in keepin 'hnlh each, and are detached. Mr.| E. Bairstow sold a house at 1317 13th| A furnished house at 344 11th street . including sales mana- | the good will of tenants. = Wire will 'shortly proceed with the | street northwest to Max Epstein. This |southeast was purchased by Mary C.|ger, salesmen. settement clerk, and | The mext 16etufee Wil Sl e erection of more dwellings, of the property will be improved. There is a | Lampert from Henry Huber. This one or two additions in the clericaly &iven on Tuesday Sveniof B BC G00 bungalow, semi-bungalow and plain | garage property on the rear of the lot | house is of brick construction, contain- |department. _ - "] tivered by Edmund D. Eheem. a local house type, it is stated. They will {bought by the same purchaser. ing ten rooms and bath, hot-water heat | Residence sales totaling about $50. ubject will be a contain from six to eight rooms eac lumbia Heights owned ! and electric light! 000 wer orted by his offic [ Two-story and attic home, of Italian de- sign, containing eight rooms and two com- plete baths; large sleeping porch; in- stantaneous water heater; oak floors modern in every de- tail. Lot 142 feet deep. Brick Garage. Posjtively the Be alue on the Market Today 5003 13th Street N.W. Quick Sale THE VERY BEST material and workmanship was used in the construction of this attractive home. Seven rooms and bath, hot-water heat, electric lights, hard- wood floors, instantaneous water heater, glass-inclosed and Seven ‘well proportioned rooms and bath, with every modern convenience; oak floors; beautiful living room the entire width of the house; rubble stone fireplace; breakfast rooms, two or three baths, spacious grounds, garage for two or more cars. One of our clients will pay cash for 4 home like this. 1405 Eye St. : Main 4752 Members of the Washington Real Estate Board PARK HOMES.. $7,500—6 rooms, bath, pantry, 2 sleep- ing porches, toilet and tubs in basement. New, ,:;l:rcflv: l-lll!l YlllTbnul home in good on; large lot. Terms. $8,500—Extra large living room and dining_room, sun g rior and kitclien firat Soor: 3 bedrooms, bath and sleeping parch second floor. Many extra features. Hard- wood floors, built-in furniture, firepiace lazge lot; fine view: gurage. Baw terms. ,500 "and $3.360—Small cottages: ali improvements in, or avallable in street. Extra good lots, LILLIE & HENDRICK 23 Carroll Ave. Takoma. Col, 892-W. «The Best Values in Takoma Park” r==1E —— [0l o[c—=]slc——=]ol—— o]t le—— o |c—— ol c= o[ b e o e [0 screened sleeping and breakfast porches. Garage. " N. L. SAN | 1418 Eye Street, NW. EEEBEEEEEE Immediate Possession, Reasonable Price—Terms Open for Inspection Today and Tomorrow SBURY “Everything in Real Estate” F.xclusi_ve Agents porch. In A-1 condition. Open for Inspection Today and Tomorrow l—— 1] ——o|——lol———unle——alal—mlol——0qTg CO., Inc. Phones Main 590345 F—o]lc——=olc——|o]c—=]o|c——=]alc—=]o]c——]al—=]o|c——ale—— o] c——— o] ——=]o] —=] ] ' - Sk