Evening Star Newspaper, December 30, 1922, Page 15

"REAL ESTATE.' | ‘“'M,\‘\‘!11‘?“1111\‘\1\\:”‘i IR | T Start the New Year Right Don't Fail to Inspect These Homes Exhibit House 1204 Ingraham St. Best Location in the City Nearl Al] ' Sold One Block From 14th St. To inspect take any 9th street or 14th street car to Ingram street. These Homes Contain 6 Large Rooms and Bath Lots are 159 feet deep to 20-foot paved alley Our Terms Are Easy Your last opportunity to purchase a home in this first-class location for the low price they are selling for. S £=| there would be no question of what THE EVENING STAR. WASHINGTON, Finance and Trade Conditions Viewed By Roger W. Babson \ Every Saturday this well known student ef business is wri readers mmun\uhhumuwumumflmmn. * WELLESLEY HILLS, Mass, De-! cember 30.—'“What's going to happen in. 19237 ; That question is uppermost in ¢’ minds of 1,000,000 American busines: men and investors who are facing the problem of making _pla: for the New Year. Signs ar® not clear and the usual barometers seem to con- tradict one anothe: In the face of this fusion we had best fall back the facts and figures. After ahorough study‘of the fundamental conditions that govern our market, Roger Babson today {ssued a statement which clears the air and furnishes a ba: of fact for your plans. ‘e are now at a point-in the bi ness cycle,” axys Mr. Bab: you can get almost as many. different opinions as there Some are very bu for the coming year, and others cannot see much hope for business. The reason for such a situation is that we are at present neither at the top of a boom nor at the depth of a depression. If we were at either of these extremes the next move would be. As it Is, we are about half way between them. “During the past year United States business has steadily advanced until the average for the whole country is what we usually call “normal” busi- ness. Having advanced thus fi shall we immediately continue into a great prosperity period or shail we 80 into another period of depresslon and poor business, as some predict? “If you will only remember the five years preceding 1921, and recall what an enormous orgy of expansion ex- isted, you can see for yourself that it will take some time to get a pro- per foundation for really good busi ness. We danced during those yeal and now we must ‘pay the fiddler’ his complete bill. Business has really en like a convalescing patiel verything will go well with the pa- ient If he does not try to get out of bed too soon. If he tries to overdo ‘We now have b :ener1 con- n ditions. We are still in a readjust- ment period. This means that sooner or later we shall work toward better P rity. It is true that Industrial stocks are much higher than a year ago, and are certainly not the bar- that they were. However, as I already stated, cerjain lines.of industry are just getting ready to go forward. The industrial market will potty,’ but there are a great issues that crhould do better in the coming year, .0 ““The rail group s, relatively, not so far advanced as the industrials. I do not believe ralls should be bought indiscriminately, but the rail average will follow up the general market. I am much more attracted to the long-haul roads than to the shorter lines. The motor truck is a feeder. for the former, but a competitor of the latter. Copper stocks have really not started yet, but the statistical posi- tion of the metal is far better than it has been for a long time. Coppers, certainly, are selling at bargain levels. Money Should Be Goed. “Money conditiops should continue good. There is no question that the panks are f{n a strong position. The federal reserve banks today have re- serves equal to abou per cent of their note and déposit liabilities. The reserve required is between 35 per cent d 40 per cent. It is true that when foreign countries begin to get on their feet it will be necessary to send much of this gold back. For the present, however, this gold rep- resents the basis on which a consid- erable expansion of credit can be built. It guarantees to us a rela- tively easy money rate until heavy gold exports are resumed. During the coming year borrowers need have little fear of a lack unds for all legitimate purposes, 4 this also applies to long-term money—that is, capital ' for permanent investment. Mortgage rates during 1923 should work lower. Today the average rate of real estate mortgages throughout the United States is between 6 and 7 D. s I to Mrs. Fannle per cent. The time is not far away ‘when this average will stand between 5 and 6 per cent. “Of course, the ease of the money market {s distinctly favorable to long-time bonds. There Is a point in the business cycle when industry becomes so active that money is ab- sorbed by trade. When this occurs bonds are sold and develop a down- ward tendency. This point in the cycle has not yet appeared. More- over, history shows that following the ‘civil war bond prices, barring temporary fluctuations, rose for a long perfod of years, the advance cul- minating_ about 1900. From this point a descent was gradually made to a low point at the end of the Eu- ropean war. Since this low point history is repeating itself, having reached a middle ground, but bonds | |stint far below the 3.80 or 4 per cent| basis of the 1900 period. All these; I(actorl suggest that well selected bonds, both municipal and corpora- tion, are a distinct purchase. “Bonds and money.” concluded Mr. | Babson, “are certainly sound factors |in the situation. As for business as a whole, there is no doubt that it will average better this coming year than it did in 1922, This does not mean that there will be any boom, but that there will be plenty of | money-making opportunities for tho!e, who know fundamental conditions.” General business, according to the index of the Babson chart, stands at only 2 per cent below normal, the same as a week ago. New Apartment APARTMENTS THE ST. ALBAN Situated the south end of the Connecticut Avenue Bridge, overlooking beautiful Rock Creek valley. Apartments of Two, Three and Four Rooms with Bath and Balcony New building of fireproof construction. equipment, with two electric elevators, For Reservations See MANAGER Modern FOR SALE WASHINGTON HEIGHTS North Side of Wyoming Avenue Comparatively new and modern, 3 stories. excep- tionally well built and in first-class condition. Contains about 16 rooms, 4 baths, electricity and heated by hot water. Lot Is 38x120 to a Wide Paved Alley Brick Garage for Two Cars he will have a relapse. passed the most painful part of the| readjustment. The crisis is over, IMMEDIATE POSSESSION AND TERMS PRICED ATTRACTIVELY FOR QUICK SALE Thomas J. Fisher and Company, Inc. 738 15th Street N.W. Open for Inspection, Daily and Sunday, Until 9 P.M. D. J. DUNIGAN 1321 New York Ave. Phone Main 1267 e T = Don’t Neglect the Best - New Year Resolution “Own Your Home”’ al To the Buyers of Asphalt Shingles and Prepared Roofings oo The Woburn balanci: s necessary.” 0y . T e Fored o Whis: | Bethesda-Blue Granite—The Stone Everlasting 1910 Kalorama Road oday a wide disparity exists be- | W. ularly the spread betwéen i < and consumers' ~ goode, Sanmary, 1953 This is a brake on trade. One-half o 1 oun ]argc e th ds that th ther half has to B seil. 5 There are 106,000,000 people in | hall, kitchen and the United States, and 50 per cent of Ne i W q W 2 . hall or distributing raw materials. It has | ALLS 4 O 2 rooms, rec s l!h\lxs larrbgfin ‘l‘md;ns!flhle toireduce tho | | kitchen and bath. $75.00 it i ers’ goods i - DD Cathaniteatis o myaterIAlS, i 4 rooms, kitchen is out of its natural proportion. Do not permit lawns and terraces to be washed and bath ........$130.00 1t 1s not entirely a matter of T ducing \sag;s, oug‘h ’:ahna C =~ SRt S 2 are a large factor, nor is it entirel . X Day and n elev: an: matier of I e properly constructed terrace wall will not only switchboard. ~ Resident man- the problem of high costs is not a| LA 5 5 ager. Cafe. problem of any one element, and re- | }| prevent this, but will add in great measure to the ‘Open for inpection day and adjustment can come in only one way | . \ 5 —irastic _competition. All this wiil | B| attractiveness as well as the value of your property. of different commodities, Ready for Occupancy, i bath them get their living from producing The purchasing power of these people ] away thru the winter and spring seasons. A First-Class Service a matter of inefficient management. No, | night. take further time. B. F. Saul Co. 1412 Eye St. NW. Does this mean that there will no opportunities in 19237 Not & bl There -will be just as many chances | to make money as in any year vou| ever lived. It will be possible for you to make as much dyring the next| ve months as in any vear of your | lite, but It wiil not be along lines which made money in 1919 and 1920, nor in any other boom year. { The profits in 192 come by gi ing attention to details, by stopping the little leaks, by saving here and | there through new labor-saving in ventions, and, most of all, by devi ing new and more economical means of distributing goods. This was not at all the situation during the busi- ness boom. Then the man who stopped to prevent small leaks found himself caught by the momentous rise in prices and changes in general condi- E ARE PLEASED TO ANNOUNCE OUR APPOINTMENT AS REGIONAL DISTRIBUTORS FOR THE STONE ROOFING MFG. COMPANY, YORK, PEN) SYLVANIA, WHO IN THE LAST FIFTEEN YEARS HAVE BUILT UP AN ENVIABLE REPUTATION AS MANUFAC- TURERS OF HIGH QUALITY ASPHALT ROOFING PROD- TCTS. THE GEOGRAPHICAL LOCATION OF THE KEYSTONE FACTORY AND CONSEQUENTLY FAVORABLE FREIGHT RATES TO YOUR COMMUNITY INSURES TO YOU PROMPT AND EFFICIENT DELIVERY WITH A MINIMUM OF FREIGHT AND TRAFFIC DELAYS. IN ADDITION TO SERVICE FROM THE FACTORY, WE HAVE ESTABLISHED A WAREHOUSE IN WASHINGTON, D. C, WHERE WE WILL CARRY A FULL LINE OF KEYSTONE PRODUCTS, THE HIGH STANDARD OF KEYSTONE QUALITY AND THE SERVICE WHICH WE ARE ABLE TO RENDER, TO- GETHER WITH THE FAVORABLE PRICES WHICH WE INTEND MAKING AT ALL TIMES. IS THE BASIS FOR OUR CLAIM OF DESERVING YOUR VALUED PATRONAGE. e e r <5 aavay ¢ ama Matchless Bethesda-Blue Granite makes the ideal wall, yet it costs no more than inferior kinds. T We are glad at all times to furnish ef without cost or obligation to you. New One-Floor Garage 50x110 1 2018 12th St. N.W. Just Above You Street 5,500 Square Feet No Pillars Location Most Convenient Possession in About Thirty Days When Completed ~ Choice Downtown Property 2 " Flynn |2 Priced at Much Less Than Reproduction Cost i Located on 16th Street | 1415 Eye Street NW. South of M Street e ‘ — S o, Wl gt Homes Stamped With an Atmosphere of Quality Bethesda Blue Granite Co., Inc. 109 Upshur St. N.W. Columbia 4936 days have passed. They were wild and merry while they lasted. Now business has come back to eart! In most Indusiries an excessive p-o- ducing capacity was created. During the boom overhead costs were i {creased to keep up with an abnormal ! turnover. Today the amount of busi- ness has dropped back more nearly ormal, but costs have not been proprotionately educed. Higher | wages, higher rents. more expensive sales ‘organization—in fact, nearly every item of expense i out of pro- gnruon with the amount of business one. “Instead of wild gyrations in the commodity markets, the average trend throughout the coming year should be more of a sidewise movement. Some commodities are high and others are very low, but the majority at present are about 15 per cent above their |levels a year ago. A year from now { we shall probably find them averag- ing at about the same level they stand v. In between, there may be a her rally from the low of 1922, agricultural products certainly You Will Be Surprised to . Value We Are Offering on Easy Terms 7th St. Between Kennedy and Longfellow Sts. 10 Sold—9 Left Take 14th Street cars marked “Takoma” to 7th and Kennedy Streets, or 9th Street cars to Ken- nedy Street, and walk three squares east. Open for Inspection Daily and g Sunday WILLIAM S. PHILLIPS REALTOR—BUILDER 1409 New York Ave. N.W. THE ALLIED ASPHALT PRODUCTS CORP. Phone Main 7223 813 Southern Bldg. Be Higher. continued Mr. Babson. average somewhat better than year just passed. A sur- vey of 100 leading industrial compa- nies, recently made by my organiaa- { tion. showed that in 1918, 96 per cent { of these companies made a net profit while only 4 per cent showed a de In 1921, the number of firms w! could show a profit was cut down to 48 per cent. Over half, or 52 per cent of these industrial concerns, lost money on their year's business. Nineteen hun- dred and twenty-two has witness a change from red ink figures into black ink figures, but the amount of net profits wiill not be large when the books arc finally balanced. We are just getting back onto the right side of the ledger. “The shortage of labor is one of the worst features of the 1923 outlook The moment that business workg up to average activity, it becomes im- possible to get sufficlent workers This raises costs and in turn in- creases commodity prices and the cost of llving. The immigration law Is largely the cause of this shortage. |= This law restricts the number of Im- | == migrants in a single year to 3 p cent of the total number of respecti nationalities already in the United States. Before the war we had an addition of 1,000,000 immigrants a year. Now we are receiving less than 300,000, and at least 60.per cent of these are womien, children or other dependents. On the other hand, 1 doubt if the repeal of this 3 per cen’ immigration law is the proper solu- 4 tion of the present labor shortage. “The real solution is not the repeal of the present immigration law, b rather the repeal of the contract la- bor law for as long & period as the 3 per cent law remains in force, This ‘would make it possible for employers to promise selected forelgn workers employment before leaving their ow: homes. The moment that the immi- gration law is repealed the contract All Modern Improvements and Conveniences Contains About 20 Rooms and 7 Baths Lot is 27.75 by 190 feet to a 30-foot alley Containing 5,282 square feet The heating, lighting and plumbing are modern and in first-class condition. = Suitable for an embassy, diplomat’s residence, pro- fessional office, club or fraternity. An opportunity to secure this high-class property, certain qf advance in value, on a reasonable cash pay- ment, at a low price. For further particulars, price and inspection, apply to Thomas J. Fisher & Co., Inc. “Earn should in the Main 4600 Start the New Year Right A row of well built homes nearing completion. Some ready to move into at once. ' ‘ Beautiful Colonial Dwellings, located in the highest section of the city, on a very wide paved street; having large covered front porches, en- trance halls, large living rooms, spacious dinin rooms; Frénch doors leading into good-sizeg breakfast porches, roomy kitchens equipped with Detroit Jewel Gas Ranges and white enam- eled kitchen cabinets that every one appretiates. Best grade No. 1 clear oak floors and finest type of Miracle door's on first floor. Second floor has oo “ three' conveniently arranged, spacious sleeping e e oid bo o Eroat dimiculty rooms, with closets in every room, and an extra - f - large linen closet in hall; tile baths, and sleeping e oy hare not Haen sottled. There “porches that are extraordinary in size. is serious danger of another strike In X the soft coal flelds. i _ These homes must be seen to be appreciated! . $7,950 “Everybody is worrying about the Terms less than rent political situation. There talk of Open and Heated Daily to 9 P.M. “New Homes” EVERY HOME-SEEKER SHOULD SEE ' BEFORE MAKING A FINAL SELECTION Built and Planned —with a conscientious regard and uppermost thought of homue- buying as a permanent investment, Surrounded by Elegant Ht;me; —and located in a convenient, heulthy, high, home-like section overlooking Naval Observatory grgnndl—on:‘olv“'alhington's beauty places. TERMS —not only put 2 family in 2 new comfortable home at a nomi- nal outlay, it BUT —solve the high rent problems. ~ 24222432 Tracy Place (Between California St. and Wyoming Ave. and 24th and 25th Sts.) . SEE THESE HOMES TODAY! bedrooms, two tiled baths and built-in tubs and fixtures and ample closet space. Third Floor—Two servants’ rooms, bath and n?:a";e attic. 54 Basement—Completely inclosed fur- ught on_the First Floor—Large entrance hall, with spacious coat closet, 1iving room, dining room, breakfast porch overlooking tree- tops, kitchen, pantry and service stair- oy nace room, double garage, laundry and Second Floor—Four nicely arranged servants’ toilet. Don’t Fail To Inspect These A great opportunity to both homeseeker and investor. Attractive price and rea- Properties > terms: % ; Open Daily From 10 A.M. Until 6 P.M. Sampie House, 2547 Wisconsin Avenue . i i - WARDMAN Telephone Main 4190 radical legislation during. the coming year. Most of this {5 merely the echo from campeign spe: may be a nofsy year. Both and the radicals have & veto pow: but nmeither Is strong enough to push through any extreme¢ measures of its own. The only kind of legislation that will really be en- acted {s that which will appeal to members of both ggllpl_ Already the Federal Reserve rd haa lssued a ruling, admittin, large amount of agricultural paper for rediscount in the federal reserve banks. The*Mus- cle Shoals problem will prebably ‘be her by sale to Henry Ford lopment on the part of the government {tself. The soldiers’ bonus will probably _be enacted, although no agreement as to the terms or mesany of raising the money has yet been made. It is improbable that there will he any increase in the amount of business taxes. “The politici aspect has fri ened many wtockholders, bat entirely too early to be worried. The thing to watch fs fundamental con- Open and lghted until © p. m. daily See Ropresentative en Premises ~ Chas. D. Sager OWNBER AND BUILDER 5 923 166h Btreet N.W. “Headquarters tor Now Homes™ 1430 K Street NW. °