Evening Star Newspaper, January 27, 1923, Page 16

REAL ESTATE. : Finance and TraJe Conditions A _Viewed By Roger W. Babso = TWELLESLEY HILLS, Mass., Janu- ary 27.—Since the arrival of the Brit- ish debt commission to the United States, Roger W. Babson has been making a study of the situation from a statistical point of view. His de- thiled conclusions are dry and unin- esting. The summary which he makes, however, is most enlightening. irst, let us realize,” says Mr. Habson, “that the coming to this country of Stanley Baldwin, British chancellor of the exchequer; Monta- she C. Norman, governor of the Bank of England, and their associates from e greatest empire in the world, with hats in hand begging for mercy, i$ one of the greatest events in our sinancial histo Por g centurles Great Britain has been the world's zreatest creditor, and all nations. in- cluding our own. have owed the Lrit- ish_empire billions of dollars. _“The war turned the financial world upside down. Certain great nations like Germany emerged bankrupt; “rance, the world's greatest invest- nent nation, emerged & debtor, while Emgland, to whom every onc e for advice, now comes to Washini- an for help. Truly this is the most dramatic economic and financial event i the history of our nation. It also emphasizes the fact that we have a great financial responsibility as well ag a great opportunity. Tnerefore, iCis with this thought in mind tha we must make our decisions. = Stands Up for Franee. whole question of repars: tion,” continued Mr. Babson, “is bound up with svmpathies, politics afd national feeling. Owing to the latter, without doubt, a grzat many people in our country sympathize with jermany, and many others, through their love for Ireland, hate England. Frank study of, tho situa- tion should convince a disinterest- ed party that Germany is in the p tion of a burglar who atterapted a calossal steal, but was caugi: and defeated in his plans. Trresp of the question of punishing tl xfar, all st admit that he make an s for the goods which h partly got away with and destroved France, therefore, should not be cized for insisting that Germa as far as possible, the property was destroved and damag bt to burglarize, terested par pust admi s is reasonable. France is asking of Germany only what any one of us would ask of a neighbor who at- ted the same thing in our com- tv This France has re- in her negotia- due to the fact t her problem in Meulty is reason that contly lost sympath; tidns with German that she is going the wrong wa @t she is inconsistent. rtain economic law app but wants to suspend it in the case ¢f Germany. Perhaps this ic more or legs tru f all the all especlally when they say that they cannot af- ford to pay their indebtedness to the Upited States. e looks at the statis- abinet View, bined owe the United States about ten billion dollars. while ey are demanding of Germany alone Teparations of over thirty billion dol- lars! Of course, if Germany can paw ary such amounts as France demands, there is absolutely no doubt but that England, France and the rest of t cahn very pay a smaller amount to the United States. Pres'dent Hard- ing and his cabinet and all others who have looked into the matter ntly appreciate this situation. D to the present time England is; the only one of the allles who has made an honest attempt to return any money to us. England is paying est on its indebtedness while other countries have sent us ically nothing. It is true that ‘ngland had a commission here re- cently pleading mercy, but we should bd fair with England and recognize that she has made her payments thus far in accordance with her agree- v As to what we will eventually do with these foreign debts cannot be foretold at the present time. Cer- ! tainly it would be useless to cancel them today and have these European nations go on another great spree or: spend our money playing military poker. If these nations would repent of the s, disband their armies and live honestly and decently I be- liéve the United States would be slad to cancel the indebtedness or do anything else which would truly help. " On the surface, the difficulty with Europe is financial, but a statis- tical study shows very clearly that the real trouble with Europe is spiritual. Before we, or any other country, can help Europe the Euro- pean nations must change thelr pur- poses, motives and attitude toward God and one another. Babson Urges Caution. “Until this time comes I cannot ad- vige any one to buy or even hgld Eu- ropean securities. = After paying for the bare necessities of life’ Europe has a surplus which it can use either o maintain armies or pay interest its indebtedness, but it has not rplus enough to do both. Europe is a good deal like the steamboat on th® DMississippl which Abraham Lin- coln used to tell about. The boiler capacity was enough to blow the whistle or to run the boat, but not enough to do both. When the whistle blew the boat had to stop. At the present time Europe seems to desire stle rather than run. Until Sgrope changes its desires and puts its energies on running instead of whistling wise investors will not hold European securities. On the other hand, 1 believe that when Eu- rope quits’ squabbling amd settles down to an honest effort to produce, these E: securities will be perfectly This is true not only as to the money owed by Eu- rope to the Independent investors of this country, but it also applies to the ten billion dollars which are Every Saturday this well known student ef business is writl “*Ihe Bar an erticle interpreting iadustrisl aad inv | | { highest did not sell at more than two land three-quarter times as high as ’ for readers of sstment problems. owed to the United States because these dcbts all combined are less than France claims Germany alone is able to pay to her. Europe Will Come Back. “This is why foreign exchanges are so little disturbed and businei continues to be good. Even thel marching of French troops into Ger- many seems to affect our markets very little. The Babson chart, now above the X-Y line, Indicates that general business stands at 2 per cent above normal, which is very good for this time of year. From the head- lines in the papers one would think urope is going to smash and Eng- land into bankruptcy. Do not fear— when Europe sees the error of its way and becomes sensible, it will ‘come back’ very rapldl “In the meantime,” concluded Mr. Babson, iwe are showing wisdom by sitting tight.” (Copyright, 1923) PRICE OF BUILDING MATERIALS LOWER COntrasts’Witfl Other Com- modities Reflects Favorable Conditions in Nation. A comparison of recent prices on building materials shows that the things that go into the construction | of a house are not as high in contrast | 10 pre-war costs gs many other com- modities. The prices of buflding ma- terials generally are somewhat more than 50 per cent higher than in 1913. During the war, when the govern- ment was calling for bullding ma- terials in vast quantities, prices more than doubled; and on some materials the prices continued to soar long after the war was over. This post-war up- ward trend was due to the great de- mand for materlals on the part of those who had delaved construction during the war. A study of present-day prices shows that of all the principal construction materials hollow tile is more nearly back to the old pre-war prices. This commodity is today in many building centers not more than 20 to 25 per cent higher than It was before the wai. Price of Southern Pine. Southern pine, a great deal of which used here. particularly in the sub- rbs, is still about twice as high as in the pre-war period. This material, though, &t the time it was selling at its hig price after the war touched a level of four und one-haif times the pre-war pri Common brick is selling today at a price not quite twice as high as the pre-war price. This material never went as_high as lumber and at its and one-half times the pre-war price. All structural steels are back close to the before-the-war prices. Nails, t00, are selling at less than a 50 per cent advance. Portland cement, while its advance was not as great on account of the war as some other building materials, | has not fallen as much as some other | materiais. It is selling around one | i before the war. Common gravel, used with cement in concrete construction, sells at various prices in different lo- calities. The general average price is about one and three-fourths that which prevailed before the war. Building sand is selling at about a 50 per cent advance over the 1913 price. Lime still is high. It has been sell- ing recently at fully twice the 1913 price, and at its highest peak sold at nearly three times the 1913 price. Douglas Fir Goes Up. Douglas fir, which, along with other lumbers, went to a very high price, | is selling at about twice the pre-war price. At its highest it was four times as high as in 1913. Hemlock is selling, in comparison with Douglas | fir, at @ somewhat lesser price. | Oak is selling at a figure somewhat ' below a 100 per cent advance over pre-war prices. Cedar shingles are | less than twice as high. Prices on glass have dropped ex- ceedingly_since the peak, and ordi- nary window glass is selling at about a 50 per cent advance over 1913 Turpentine, used extensively in painting, perhaps of all the materials used in building went highest in price. It at its peak was five times as high as the 1913 quotations. An- other constituent of paint, white lead, 1s about three-fourths as bigh again as it was in 1913. The bullding materials trades are of the opinion that bullding prices generally will not fall much within | the near future, due to the unusual demand for the construction of homes | which exists at present and the cer- | tainty that thousands of new houses | will be begun throughout the United | States as soon as weather permits op- | erations. —_— FILES SLANDER SUIT. Suit to recover $10,000 damages for alleged slander was flled in the Dis- trict Supreme Court yesterday by Henry Lanford against James A.| Burus. The plaintiff claims that his good name and reputation have been injured by statements alleged to havi been made by Burns in the presence of & number of persons. W. J. Dow is attorney for plaintiff. the Reduced $2,500 ancroft Place 4 A Home of Distinction A Neighborhood Unsurpassed 11 spacious rooms, 2 baths, extra lavatory, beautiful new hardwood floors, entire house re- papered and refurnished, new electric fixtures, servants’ quarters and bath, wupstairs kitchen, attic over entire house. This house is wonder- fully constructed and is priced far below repro- duction cost. g Open Sundn-y— 9 AM. to 9 P.M. New structure, 1500 14th street northwest, erected fof the Trew Motor Company at a cost of approximately $200,000. It has a frontage on 14th atreet of 50 feet and a depth of 105 feet. The first floor contatus a large. alesroom, while the upper floors were designed for shop and other purposes. The R. P. Whitty Company was the builder. gan, at 4209 3d street northwest, was $130,000 REALTY SALES | sarst i3 srse sorghmgat e REPORTED BY LOCAL FIRM | fiaving “tront poren. “two-story. rear | porches, hot-water heat, electric lights | 2nd inlaid flors. Home Owners Invest in Various| jreng MacDonald bought a home in Petworth, at 521 Shepherd street Parts of District the Past S T R R Week. ! Inturff. This is one of a square of | houses built several years ago by Sale of ten home properties, totaling | Middaugh '& Shannon. It has six in value $130,000, was reported this rooms and bath, hot-water heat, elec- week by the firm of Boss & Phelps. tric lights and a garage Olive L. Neville s0ld her property at A home at 1439 Harvard street northwest, owned by Harriet W. Ker 1414 BEuclid street northwest to Eva Mae H. Bushey. This {8 a three-story dall of New York, was purchased by James R. Beatt This is a sem bay-window brick house, having ten detached, three-story brick residence rooms. two baths, hot-water heat and having twelve rooms, all modern im- provements and a brick garage electric lights. It will be occupied by A home at 1813 Vernon street nortt the new purchaser. A detached home just built ‘bv H. D. west was sold to J. T. Crouch. The property consist of a three-story bric Fulmer at 3902 Jocelyn street. in Chevy Chase. was bought by Dr. L % c Pelzman. The house is of frame house. having ten rooms. two baths 1cco construction. There ar. and furnace heat. This property sold for un estale. It will be occu- ed by the new owner. roome, two baths and including a 2 A. Tarney bought a house j completed by D. J. Dunigan at i 3 This is a two- | bath colonial h hot water k floors fireproof Clements bou, n street ant. from rthwest, R. Be in nt’ Ple J i houst ving three stories, with ten rooms. two baths, hot-water heat and elec and other imy N ahts Blanche Mitchell bought property at 1726 Lamont west from An F. house, built Kennedy Bros. oms and three bath and is situated on a lot 20 by 105 feet Another home built by D. § residence A sold at 1352 Oppenheimer ry residence Street northwest to William This house was built a few 1t has a by Keck years ago by Charles W. King. =ix rooms and bath, Inlaid floors, hot- Dunt- water heat and electric lights. APARTMENTS FOR LEASE THE ARGONNE * Columbia Road at 16th St. N.w. Magnificent, eight-story building, absolutely fireproof. Apartments from 1 room, kitchen, bath and reception hall to 5 rooms, kitchen, 2 baths and reception hall. P:)ssession April 1st Office on Premises Phone Col. 4788 WM. S. PHILLIPS Realtor - Undoubtedly the Best Value in a New Home In'This Most Exclusive Section Take time to inspect these modern homes, 2 squares from Conn. Ave., near Cleveland Park. Ideal section— convenient to everything. 3078-3080 Porter St. N.W. Contains 7 rooms and bath and 6 rooms and bath; built-in Mgaragc. Hytex tapestry. brick. Excellent construc- tion.' any extra features, such as clothes chutes, etc.,. deep lot. $13,900 and $14,900, Terms. Representative On Property Sunday from 2 to 6 P.M. Wm. S. Phillips 1409 N. Y. Ave. Union Realty Corporation REALTORS 1410 G 5t. N.W. Main 8413 ! modern | . against grease and waterstains, HOME RECENTLY COMPLETED FOR DR. G. E. WHITE, AT 3206 34TH | STREET NORTHWEST, 1 COSTLIERHOMES | PLANNED THIS YEAR MASSACHUSETTS PARK. ‘more. CBicago topped the list re| ain of Gelphia, $12,300.000; New York, 35 400,000; Los Angeles, $38,000,000; De- troft, $36,500,000; Boston, $32,400,000; San Francisco $24,600,000, and twenty thepe others. made gains exceeding $5.600,000 The total value of building permi issued in the United States for De- comber was in excess of $250,000,000 avd for the entire year approximately The volume of $8,828,000,000. ing permits ‘ncreases fn build- issued throughout the proportion to the value of the in< creases in buildings erected and plan- ned, thus indicating a universal tend- ency toward larger and more costly types of structures. Bullders recog- nize the changes which are taking place In the standard of living. In this country and are erecting struc- tures to meet the changing require- ments of people generally. These facts are revealed in an analysis of reports recelved by S. W. Straus & Co. from all parts of the country in the preparation of their national building survey. The closing days pf December Wit- nessed an augmented demand for | bullding permits in many important| cities, lllustrating a tendency toward | ed_activities for the new year. | New York city permits for more than $6,000,000 in tenement house! construction in the borough of Man- hattan alone were filed during the final days of the month. | In 115 of th leading cities of the country, representing more than 50 per cent of the country's population, the total estimated valye of building permits, issued and applied for in De- cember, exceeded $160,900.000, the sur- vey shows. Throughout Decembér the ratio of ' construction for residemiul buildings was about 37 per cent of all types of structures. Sixty-two cities reported We Are Offering Fine Corner, Near 14th and N.Y. Ave. At a Speculative Price TO CLOSE AN ESTATE If you want to buy or sell business or in= vestment property —SEE— LANHAM & HILL 1400 HSt. Main 366 i =, | a home at| ¢, is of brick construction, | BEST BUY IN ""ASHINGTON TODAY ONLY ONE LEFT No. 1028 Quebec PL.LN.W. At 13th Street 1 Square North of Spring Road Six large rooms, H.-\.- H., electric lights; double floors, tile bath, servants’ toilet, wash trays; double rear porches. Built-in garage. First Cost Practically the Last FOR SALE BY Thos. A. Jameson .. 05 and Builder 806 New York Ave. y Main 5526 Ask the Man Wko Oicns One OCATED just over thé 4 bridge on Connecticut’ Avenue, facing Rock Creek Park; a neighborhood that is developing fast and steadily in- creasing in - -value—on street car-line with direct service to the city in 20 minutes. ] These homes are built of the very -best grade materials throughout and are delightfully planned to please those in search of comfort, convenience and re- finement. = An Investment of . $2,000 —and $150 per month, including all interest, are terms which should attract many eager buyers—especially when the total cost is compared with other values in this sec- tion, == lOur model furnished home at 2822 Connecticut Avenue is open daily from 9:30 until 5:30. You are cordially invited to come in—rest a while—and inspegt its many delightful features—without obligation. “Not a loss. to a buyer since 1899” Middaugh & Shannon _lncomutol - 15th and H Sts. ' ‘Woodward Bldg. gains for the year of $2,000,000 or ith a; 102,700,000; Phila- | GOOD KITCHEN FLOOR COVERING SAVES LABOR What {s the best material for -the kitchen floor, the most practical fiish and the most datisfactory covering are | questions’ much discussed. All house wives ‘agree, however, that the unfin ished floor is hard to clean, and paint- ing, olling or covering it with some washable material saves much labor. An unfinished wood floor requires fre- quent serubbings, which, no matter how thorough, eannot remove stains from some kinds of wood, and cause and become rofigh. Maple is one of the woods most used for kitchen floors. It is smooth and very durable and, when olled, is proof Pine and Douglas fir or red spruce are other desirable kinds and may be painted or olled. Any cracks in the floor should be filled with putty, or better, with one of the special preparations for the pur- | pose. There are a variety of concrete and so-called *‘composition” floor materials which now are on the market for use in kitchens. They zre often easy to clean and do not absorb grease and water when new. Some of them, how- ever, tend to crack and chip with wear, and then are difficult to keep in order. Some are also rather hard and fatiguing Last 3107 12th son Co., just completed. for garage. Do Not Fail to Open Week Da; Arlington 1627 K St. NW. = £ i REAL ESTAT he surface of others to sliver | o8 to stand on, though this drawback may be overcome somewhat by using mats of rubber, cork, or some other resilient material. The speclal paints now on the market make concrete floors easier to care for, less dusty and more durable. Linoleum 4s a very satisfactory cover ing for the kitchen floor. Floor oilcloth {1s cneap and easily cleaned, but wears | out_quickly. Floer coverings, such as arpets and mattings, which hold dust ]und' dirt, are unsuited to the kitchen. | Whatever the material of the kitchen | floor, or the covering used on it, con | stant scrubbing and the excessive us of soap and water will injure the s | face. | —_—_— WILL STUDY FORESTS. Vice President Coolldge yesterda: appointed the special Senate co | mittee provided by a resolution | Senator Harrison, democrat, Missis {sippl. to make a nation-wide in | vestigation of reforestation. Those appointed were Senators Moses, New {ampshire, chairman; McNary, Oreg and Couzens, Michigan, republi and ~ Harrison, Mississippi | Fletcher, Florida, democrats The commission plans to mal studles in the New England, southerr great lakes and Pacific coast timbe districts after Congress adjou. report plans for conserving veloping the national timber One Street N.E We offer an exceptional value in this beautiful home on 12th St. Northeast (Brookland), built by Breuninger, Peder- The homes are built of Hytex brick and contain 6 rooms, tiled bath, attic, built-in brick coal bin, concrete front porch and spacious sleeping porch, oak floors throughout, hot-water heat and electricity. Room Inspect Sunday Prices and Terms Very Reasonable ys Until 9 P.M. Realty Co. Real Values in Real Homes Phom. M. 3174 A R A INSPECT NEW HOMES Farragut St. Just Off Georgia Ave. (913 to 931) Adjacent to Saul’s Subdivis TWO SOLD Price, 1on THIS WEEK - $8,250 ,000.00 . Cash $75.00 Month, lncflding dauble rear Houses 2032 feet. 501 7th St.S.W. ONG winter evenings tion and happiness hours to plans for spring a more delightful, conve: D. C.—On Line of HIS property has just sites at reasonable price terms, { Motor northwest on of property. - inter Air Castles --that materialize in the spring Y Never will there be a better time to select yo home-site than right now—and nowhere will you find than in this new Fisher subdivision. Located South of Chevy Chase Heights, and you now have an opportunity to secure choice turn to the left at Harrison Street—or take Chevy Chase car to Huntingfon Street—one square north Interest and Principal FLOYD E. DAVIS bring abundant compensa- to those who devote these home building. nient and refined Tocation Connecticut Avenue been placed on the market. s and .on very favorable Connecticut Avenue” and ‘Thomas J. Fisher & Co., Inc. 738 15th St. N.W. . * Main 6830. "General Agents