Evening Star Newspaper, March 3, 1923, Page 17

REAL ESTATE. §833,000 OF NEW BULDINGIS0.K.D. Largest Single Operation Is That of Riggs Bank on Massachusetts Avenue. WILL COST $103,000 Other Permits Issued Cover Edi- fices in Practically Every Section of City. Building operations to cost inves- tors more than $833,000 were ap- proved during the past week by the municipal building inspecto A permit was granted the R Natlonal Bank for the erection at avenue of a a cost of $103,000. ter permits follow: Wol to build st cost, $5,000. i to build ten homes, ; cost, $60.000. to build twelve 5 street: 1403 Ord street cost, to build, 3102 33d 0, 1, to build dwelllng, $40.000 Huguely build shed treet above Florlda avenue; $6,000. Davls, to 210 1dth cost, $3,000. Nathan Goodm to build stores, 1915 18th street; cost, $16,000. To Build Twelve Houses. rin April, to build warebouse, reet southw. cost, $1.200. { where EXPLAINS BENEFITS OF LOAN SOCIETIES Odell S. Smith Speaks Be- fore Y. M. C. A. Accountancy Class on Subject. Operating principles of building and loan assoclations wi explained to members of the Y. M. C. A. accountaney cluss at this week’s session by Odell §. Smith, etary of a local buflding and loan organization. “A building out. “is & mutual co-operative financtal institation composed of members who have associated themselves together for their mutual benefit and financlal ad- vantage. The membership of a building sociation may be broadly divided into designated savings mem- and borrowing members. The for- the association a place they may dep: om time to such suns as t are able to from their wages, salary or other come. ociation,” he pointed mer time spaj System Is Explained. “The borrowing members use the as- soclation as a place where they can bor- row funds for buying, building or re- | balring 4 home, or for’other useful pur- lie members save money together. Ihes lend taoncy 1o each other, de the profits with other. s They work together to 4 M gether to help each ars ago Judge Durack of New quoted as saving that a build- ing association wis an organized effort concrete wealth from aggre- THE EVENING STAR, WASHINGTON D. C. URDAY MARCH 3, 1923. NEW HOMES FOR LOCAL REALTY OFFICES COMPLETED. [ th REAL ES TWONEWBUILDINGS ONKST.COMPLETED $400,000 Cost of Four-Story Business Structures Near Department of Justice. Completion by Boss & Pheips of the two four-story business buildings, 1416 and 1417 K street northwest, ad- jolning the Department of Justice, was effected this week. Cost of the project was approximately $400,000. Boss & Phelps erected the 1417 building for use as the future home of their firm and it is sald to be one of the most elaborate real estate offices in the east. Harry K. Boss, H. Glenn Phelps and Ben 'T. Webster, members of the firm, have issued in- vitations for the formal opening Monday. Both -buildings are steel-frame construct! stone fronts. They were designed by George N, Ray, local architect. Reception Foyer Feature. The feature of the Boss & Phelps home s the reception fover, elabo- rately decorated in the Ital with a tall collonade of black Italian marble, marble mosaic floor, cefling and speeis carved torch leres, reproduced from originals de- signed by the Mr. Boss, who, Washington and an active of with 1im Real Esta convention delegat has visited most of the principal realty offices in the country, incor- porated his personal ldeas and those of his firm associates in developing this reception room. = The remainder of the first floor was designed especially for real estate fireproof, |, n style, | lofty | © Cfing TATE. Washington’s Growth Reflected in Real Estate and Building News | BUILDING PROJECTS SET NEW RECORE Boom Developing Over Coun try Expected to Surpass War Times. PRICES ARE ADVANCING Material and Labor Both Getting Higher—Contractors Turn- ing Down Jobs, A building boom such as this coum try has never before experfenced, na even in war times, {s developing &) over the countr. Bullding contracts awarded during January throughout the United State: ® the highest for that month o1 |record, according to flgures Jjum Issued by the Department of Cofn merce. These figures show that buflding cts let in the twenty-sevel stern states in January in 1 per cent over Decembe per cent over Januarv, 1923 ibearing out the forecasts made dium the latter part of last year thar _would witness the - greates {bullding boom in the history of th { country | Residential {for moro than hait th |industrial constructio rather Ligh. The great demand for bullding ma Iterials of all kinds has alveady causes a marked adva prices. Addes construction accountet total, waili s figures ra ce i STRUCTURES, TOGETHER COSTING $400,000, EREOTED BY BOSS & | AT 1415-1417 K STREET NORTHWEST, ADJOINI THE DEPARTMENT OF JUSTICE. THE BUILDING TO THE LEFT WILL BE Buxinexs and apartment structure, at 924 14th street northwest, acquired oty K 2 by Charles D. Sager. Mr. Sager's realty office will occupy the first floor. PHELP: Building ~ assoclations ploneers in teaching th C. H. Small, to build twelve looses. 0 North Capitol street and 16 Bryant stre cost, $84,000. uncer dates, boom | business purpos Part of the ses to this Is the y 5 e t. 4 Ve jond floor ulso will be used by thelies for futur fil’,f,."ii.‘?fc? jfirm. The remaining floor space has . pated with a have been itt. They have Wash Light Company, to repair wall, 12th and M streets south- east; cost, § I "'Deamond, to build 12th street 0. A. Miller. to erect garage, rear 738 Lamont street 500 W. P. Irwin, to bui and ‘$02 49th street £5.000. W. P. Ir street northeas W, P. Iry northeast 3. 3 W. P. Irwin, to build, §09 42d street northeast; cost, $2,000. M. A. Bvrns, to repair, 900 C street northwest; cost, $2,000. nton _Memortal Church, to bulld, and Monroe streets; cost, $30,000. A. Hitt, to build, 1501 Kearney street northeast; cost, $5,500. n & Luchs, to build fifteen 3601-3629 S street; cost, to build five Kennedy street; 5000 9th R. Francione, to 400 Long- fellow street; cost, $11,000. B. H. Gruver, to build sixteen houses, 1401-1431 Morse street north- east; cost, $9 . to bulld, 1609 Olive stores, northeast; 3912- cost, northeasty cost to bulld. 4205 Dix 00. annon & Luchs, 1330-1338 to build, 7,000. build, 00. S, A. Jennings, street northeast; cost, $2,400. J. C. Burgess, to build, 1603 Evarts street northeast; cost, $4.500. Moore, Davis & Steele, Inc., to bulld, 8909 Kansas avenue; cost, $10,000. Taylor & Hedges, to bulld, 4608 16th street; cost, $15,000. been indorsed b v the National Ass tlon of Real e by tate Boards, by Secre- tary of Co e Hoover, who savs our associations are true people's banks, popularly controlled and locally man- aged To bacome an investing member of 2 building and loan association, Mr Smith stated, one can start an account n the assoclations operating on the permanent plan, which means an as- soclation that declares & dividend each yvear, by depositing $1 up, and such other sums as one may be able to spare from his income. In the serial assoclations, in which a new serfes is started every six months, a person may become a member by pay- ing back the number of months that have elapsed since the series started and thus get the full earnings of said series if you stay in until the series matures, “a slight reduction being made for those who withdraw before the series matures. Accounts are Encouraged. These accounts can be opened any time in either class of asso tion. Tha advantages of membership, the speaker said, arg: “Three hundred dollar dividend is exempt from fe empt from muniaipal intangib! except special deposits. The as tion, however, pays 2 per cent on its gross earnings as an intangible tax. A person desiring to become a bor- rowing member must make applica- tion, and his property then ap- praised by the assoclation's appraisers at the average cost of about $4. If the loan is approved, the only ex- Ipenses to bear are for the examination NEW BUNGALOWS NEAR CATHOLIC UNIVERSITY Fourth St. N.E., Just North of R. I. Ave. Cars , drawing necessary papers, re- revenue stamps, fire insur- ance, notarial fees and tax certificate. The borrower is required to pay back monthly on his loan $1 for each $100 borrowed. Half of this amount is credited to interest and half to prin- cipal, the interest being at the rate of 6 per cent. For illustration, if, it was explained, a person horrows $2,500 his monthly | payment would be $25_per month. $12.50 interest and $12.50 principal o has the option of a'lowing pay- ments on stock to accumulate and participats in the full earnings of the ation, or, it he desires to re- duce his montiily payment. of cancel- ing a half ghare of stock—in some assoclations $100 or $200 in some oth- ers—and reduce the monthly pay- ment $1 or $2 per month respectively. Loans Pald Like Rent. If he keeps the same monthly pay- ment and takes the option of cancel- ing a half share or a share, when he has paid in that amount on the prin- cipal the finterest payment gets sngaller and the principal payment gets larger. These loans are paid off like rent, in about twelve years, Mr. Smith said. The loan can, however, be paid off as fast as the borrower is able to pay. He can pay any amount at any time on-the principal and thus reduce the amount on which he has to pay inter- est. —_— o The X-rays are now used by manu- facfuring jewelers to detect flaws in dlamonds and other preclous stones. REALTY BOARD LUNCHEON WILL BE HELD THURSDAY Gordon Ramsey to Discuss Gov- ernment Leases at Monthly Gathering. | Members of the Washington Real Estate Board will hold thelr monthly luncheon at the City Club next Thurs- day afternoon at 12:30 o'clock, ecutive Secretary Petty announced today. The realtors will be addressed by Gordon A. Ramsay, assistant té the director of the bureau of the budget, and also chalrman of the interde- partmental board of contracts and ad- justments, on the subject of govern- ment leases. It is understood that Mr. Ramsay will discuss the standard lease form that has recently been | adapted by the government for use in acquiring privately owned property for government use. An interesting program for the oc- | caston has been arranged by the luncheon committee of the board, con- sisting of B. ¥. Adams, chairman; Theodore N. Gill, J. E. Schwab, Earl Mackintosh, Marshall McKibbon aud M. R West. | THE FUTURE HOME OF BOSS & PHELPS, CHARLES D. SAGER BUYS 14TH STREET PROPERTY Remodels Building to Serve as Of- | fices for His Real Estate i Company. | Charles D. Sager has purchased the | building at 924 14th etreet northwest land has remodeled it to serve as the new home of his real estate office, it was announced today. The structure is four storles high, the thres upper floors containing six apartments, Mr. Sager’s office has been moved into she first floor, which was reconstructed for the purpose, with a marble front to the second story. Miss Ethel M. Rutty was the former owner of the propert Mr. Sager's office reports the sale, | since the first of the year, of business, |investment and residential properties totaling in value approximately $1,- 000,000. Some of the transactions fol- low: The Lincoln Hotel Company pur- chased the properties 8§01, 803, £06, 807 fand $09 12th street northwest, 'and 1107, 1109 and 1111 H street north- west, for 000. x new homes recently completed Ly Mr. Sager on Kansas avenue be- tween Allison and Buchanan streets were sold to T. W. Dixon, N. Papa- goorgiou, R. O. Rhodes, Jessie Blatch- er, R. N. Tatum and John A. McLean, respectively. Five new homes on Kentucky ave. nue southeast were sold to ¥. S. Hum mer, Bert Wilson, Joseph Kuntz, § Luella M. Allen and Lillian V. Burc respectively W. Phillips purchased premises 254 Wiseonsin avenue; Jerry P. Harring- | ton, 2545 Wisconsin avenue; Krank Selby, 2647 ‘Wisconsin avenue; Miile Altman, 2146 P street northwest; B. A. Michael, 802 Rittenhouse street, Takoma Park; W. G. Nowell, 737 But- ternut street, Takoma Park: Anna D. Brown, 520 13th street southeast; JI. J. Kemp, 1533 8th street northwes: R. Ferguson, 147 Kentucky avenue southeast; M. Goldstein, 4 Macomb street; I. B. Dodson, 2257 12th street; W, 8. Rock, 414 entucky avenue southeast; H. E. Crippen, 2580 37th street; R. N. Tatum, 2019 2d street northeast; A. Smith, 1602 Allison street northwest; F. H. Davis, 3619 Georgia avenue northwest, and G. Kune, 2146 P street northwest. —_— ! BUYS BUSINESS BUILDING The H. R. Howensteln Company has purchased the building, 1508 H| street northwest, from C. F. Burk- hardt, trustes, for about $200,000, it | 1s announced. The deal was made by E. C. Brainard and Quinter, Thomas & Co., agents. | ture adjoining | tending the convention, been turned into public offices. In the basement are men's and women restrooms. There is an ciectric el vator in each building. The strue- the Boss & FPhelp building” is similar in design to buias: esign to th The e former home of the WASHINGTONIANS PLAN TO GO TO CONVENTION Plans are under way to have Wash- ngton well represented at the an- nual convention in Cleveland, June 27-30, of the National Assoclation of Real Estate Boards, according to John A. Petty, executive secretary of | the Washington Real Estate Board. A special committee, headed b Walter O'Boyle as chairman, tively at work among the me ship of the local board for the pur- pose of securing a large delegation from Washington. The following members have al- ready signified thelr intention of a and it is ex- pected that the delegation, including the ladies, will number more than one hundred: Charles S. Shreve, Clarence Dodge. J. C. Weedon, Percy H. Rus- sell, Thomas E. Jarrell, Jesse H. Hedges, John L._Weaver, Willlam E Shannon, F. W. Graha J. W, O'Boyle. O. B. Zantzinger, Fred H. gast, Thomas Bradley, J Leo Kolb, W. K. Hartung, Clarence F. Donohoe, firm was |at 1405 H street northwest. | market the de ‘m 1 exceed thd supply. | On the top of the ase in thi {prica of building materials, buflding |labor is demanding more wages |These two factors have boosted bufl Hing ¢ verywhere from 10 to 2I |per cen what they were si months a f the country ng to bid o have al] tht 5 for the coming | Lumbcr figures for January, as ta avaflabl indicate & cons!derabl increase in production and shipment: ver both the previous month COrrespon & month last yeap Production of maple flooring reachet the highest pol on r rd and oal flooring production was exceeded only Orders booked show the sam¢ with maple flooring ordem nt above month in thy past three vears. Unfilled orders foi ade new high records » stocks seasona s twice a1 Shipments wert i Harry K. Boss, Lee D. Latimer, W G Dent, H Latane Lewis, John A Petty, H. H. Carter, Claude Clarke R L. McKeever, Willlam S. Phillips Joseph A. Petty, J. D. Grady, Josept A. Herbert, jr.; Theodore M. Judd H. L. Rust. H. G. Smithy, H. Cliffor¢ Bangs, B. F. Adam: Arthur Lewis Lovick P. Liles and Earl E. Goss. Price, $6,550 $750 Cash; $65 per Month LOTS 50x100—GARAGE Six pretty rooms, tiled bath, h.-w.h., elec. lights, large porch, best construction. Price, ‘$8,950—Terms Sample House—2514 4th Street N.E. OPEN FOR INSPECTION QUINTER, THOMAS & CO. The best location in the southeast—just in front of the New Eastern High School, on 18th St., between East Capitol and A Sts. Good modern brick homes, well constructed, taste- fully finished, with large lots, and provision made for street. Open Every Day Until 9 P. M. Don’t Put Off Seeing Them Exclusive Agents 819 15th St. N.W. 4 Sold This Week 5 Left of 19 Built Get Yours Today $750 Cash Sample House 5519 Seventh St. These houses are unquestionably the best values in this s 1 1 tne operation quickly. ction and are offered on these terms to close out Six good rooms, concrete front porch, double rear porch, hot-water heat, elec. lights, tile bath with built-in fixtures, step-saving kitchen with large pantry, built-in refrigerator, oak floors, generous closet space. A Real Home. See these homes—compare them and you will become a Phillips home owner. Open Daily and Sunday Take 14th St. Car marked “Takom: to 7th St., walk 5 square north; or 9th St. Car to Longfelléw, walk east to 7th St. WM. S. PHILLIPS Realtor 1409 N. Y. Ave. N.W. Main 4600 announce the removal of their offices on Monday, March fifth, to their New Building 1417 K St. N.W. You are cordially invited to-inspect - between the hours of nine a.m. and ten p.m. Boss and Phelps their New Home - on the above date Exclusive Agents 713 14th St. N.W. These Homes Represent Good Values and Can Be Purchased On Easy Terms Don’t Miss Seeing Them! Washington Heights No. 3316 19th St. NW. Just north of Park Road, overlooking beautiful Rock Creek Park, a delightful lo- cation. 6 unusually large ‘rooms. Buflt on the large lving room plan. Thoroughly modern. Pittsburg Heater, house screened throughout, including double porches. Price, $10,750 on reasonable terms. 800 Rittenhouse N.W. Bungalow Corner 8th and Ritten- house streets northwest, a nicely built-up detached home section, California type, 6 rooms and bath with porches. Built-in library, streets, curbing, alley and walks all complete. Can be bought on_very easy terms. Only 1% blocks from 14th street cars. Columbia Heights 953 Shepherd St. N.W. Beautiful corner house, § rooms and bath, 22%-ft. wide, double porches, cement floors, in perfect condition throughout. Price, $11,760 on very easy terms. Conven- fent to both 9th and 14th street car lines, 2547 Wis. Ave. N.W. Overlooking Naval Observ- atory grounds, 6 beautiful rooms, large lot, oak floors, in a neighborhood of refine- ment, adjoining Massachu- setts Avenue Heights. Price, § 0, § cash. Balance like rent. New Homes on Kansas Ave. N.W. Between Allison and Bu- chanan, the prettiest loca- tion fn Petworth. House full 20 feet wide. We built 7 have been sold before completed. We cannot give you a house for 4 weeks, but you will be glad to wait after you once see the plan and size of rooms. Different from others and the price less. Easy terms. Beautiful corner. $12.500. New Detached Homes 7 and 8 rooms each, nicely located at the corner of Sth and Rittenhouse streets northwest, one square from car line. The best detached home buy in the city. Prices, $8,850 to $8,950, on terms ke rent. CHAS. D. SAGER Realior 924 14th St.