Evening Star Newspaper, July 7, 1923, Page 13

REAL ESTATE. Railroads’ Big Noted by Roger Babson " Business Should Get Benefit Before Long, He Asserts—Silent on Outlook for Rail Stocks. BY ROGER W. BABSON. Bpecial Dispatch to The Star. WELLESLEY HILLS, Mass, July 7. ~—~Whatever may happen to the stock fmarket, the fact remains that the rallroads are making money; in fact, ‘more money than they have made for Years. The 200 leading roads should report for the last month, for which we have available figures, about $550,000,000 gross, compared with about $450,000,000 for the correspond- ing month of last year, thus showing an increase of over $140,000,000. Two thirds of this has been eaten up by operating expenses, but about $40,- 000,000 is left as an increase of net. During the month of May, 1923, 4,873,427 frelght cars were loaded, ©compared with 3,841,683 freight cars during May, 1922. The loading fig- A ures for June show a greater in-j crease. Truly this is remarkable and a similar situation has seldom happen- ed before in the railroad world. This means that over 1,000,000 freight cars are being loaded a week. It there- fore shows that when the présent area of business readjustment is completed and we are ready to enter a period of real prosperity the rall- roads are liable to break down, as they will be unable to care for the country’s business. One wonders if the Interstate Commerce Commission or the politicians of the country realize this serlous condition. The number of freight cars should be in- creased as the normal line of the Babsonchart ruus upward. The car loadings naturally fluctuate with the y hills and valleys of the chart, but the number of freight cars in exist- ence should increase as the normal line of the This improvement in the railroad situation has developed without ar special reasons. The country ha been enjoving for the past few months a small intermediate area of prosperity. As this was area of prosperity, one can imagine what will happen when the real area of prosperity comes. Furthermore, these earnings have not a real come about during a perfod of very: bad weather conditions. Railroad men tell me that this is the worst spring, from a railroad point of view, that the raflroads have ever experienced. Even during April the northern part of the country had severe snowstorms, while the south- ern part suffered continually from floods. The cold weather over the entire country during April and May sreatly retarded buyving. Of course, * the railroads had an increase in rates, but this increase took place more than a year ago. There has been a decrease in rates and an increase in wages since the blanket increase two years : On July 1 last year the Interstate Commerce Commission put into effect a cut of 10 per cent on most com- moditles, except grain, which w cut 163 per cent January 1, 1922, In addition to this there have been many other reductions of rates, When comparing the net earnings of the railroads with four years ago, we must allow for the increase of rates: but the '$40.000.000 a month increase in net earnings which the rallroads are now making. compared with a year ago, has developed with a decrease in rates. Wall Street Viewpoint. Railroad stocks usually go with the market, irrespective of the earn- ings. When we are in a bull market all stocks ko up, and when we are in a bear market all stocks go down, irrespective of merit, although the better stocks go down less than the; v Inual custom of the board, the mem- s bers who attended the Cleveland con- readily | Earriings REALTORS REPORT BEST SESSONYE Convention in Cleveland In- spires to Higher Ethics, Say D. C. Delegates. { The sixteenth annual convention of the National Associution of Real Es- tate Boards, held in Cleveland last weel, was the largest and most suc- cessful annual gathering of realtors in the history of the natlonal associa- tion, - according to_ John A. Petty, executive secretary of the Washing- ton Real Estate Board, who accom- panied a delegation of fifty-two from Washington. Luring the conventfon there were seventy-six different group sessions, at which practical discussions were led by experts in speclalized branches of the profession. These group ses- |sfons represented the actual working of the varlous divisions of the national assoclation that were created several months ago for the purpose of devel- oping special service for realtors throughout the country. ~ Membership in these subordinate divisions of the national association is made up of individual realtors lq’: their connection with the groups in addition to their regular member- ship In _the national assoclation. During the conventlon all seven divisions reported a large enrollment of membership. Study Realty Problems. * the bears see this. They point only to politiciang and talk constantly that an attempt will be-made to have Congress persecute the rallroads next year. Probably such an attempt will be made, but this is no reason why our congressmen and legislators will be so short-sighted as to pass any detrimental legislation. The railroads are not perfect: In the past they ‘'made a great many mistakes which were inexcusable. Their attitude toward the public was medleval and wrong. These condi- tions are mnow greatly changed. Although the roads are not yet per- fect, it must be admitted that they are now trying to do what is yight. 1f the Interstate Commerce Commis- mission and Congress would only help. them in this endeavor it would greatly ald in bringing_ back a real perfod of prosperity.. What will hap- pen I do not know, but I do know that things are going nicely with the railroads at present and all live busi- ness men who are selling the rail- roads should profit from these im- proved conditions. The Babsonchart stands today at 1 per cent above normal, the same as last week. (Mr. Babson, the noted statistician, who is a regular contributor to The tar, “will continue his speclal arti- cles on business and financial con-| This makes It possible for the di- ditlons in next Saturday's issue.) visions to continue the intensive work undertaken in the study of realty problems. Included in these REAL ESTATE MEN are sections covering home and subdlvision operation, grous bullding brokerage, mortgage and finance TO HEAR REPORTS |proverty ™ munagement. " industriai properties, farm lands and board secretaries. By dividing the work of the na- Local realfors are planning a social | tional assoctation in these various meeting, toybe held at Wardman [sections realtors throughout ' the PArk Hotel. Thucaday: b1y, 19,3ac~{ SO0V are givsrl an cppoxtinity of participating in a_national way the development of special branches of the real estate profession in which they may individuzily be Interested. According to reports made by the officlals of the national association cording to Charles S. Shreve, presi- dent of the Washington Real Estate Board.: At this meeting, as.is the-an- | vention will discuss the various'fea-] o { tures of the convention, and the dele. | ET¢at strides have been made during gates will make their official report|iNe Past vear in forming new real & 2 estate boards in all parts of the of the proceedings. Bl At nE |country and in furthering the doctrine of ethical practices that have been in.the past have sid v y t L ' e i erey ey VTSN, | (o pted, as standard by ihe mationsl board sent a larger delegation to|assoclation. During the past few years the organized realtors of the country have had a large growth in their association. Many Women Attemd. An unusually large number of women attended the cohvention and the Cleveland realtors carried out a varled and Interesting program of entertainment which culminated in a grand ball on the last night at the Munlclpal Auditorium. . A significant feature of the conven- tion was the attendance of state commissioners in charge of adminis- tering state license laws. Fourteen states have to date adopted the model license law drafted by the National Assoclation of Real Estate Boards. This law is designed to restrict the practice of real estate on a legiti- mate and professional basis and pro- vides a means of revoking or with- holding the issuance of licenses to irresponsible and dishonorable brok- ers. Enforcement of these statutes rests with the state commissioners of real estate and the conferences held at the convention in Cleveland between the various state officlals and officers of the Natfonal Assocfation of Real Estate Boards offered an opportu- nity of comparing the workings of the law in various states and uniform methods of administration were dis- Staining is explained as a coating cussed. mixed with coloring mattér which changes the color of the wood but | Fdfi RENT does not obscure its grain or texture. ! P e It is almost always accomplisifed 1 —in one of Washington’s most. Cleveland than to any other previous convention of the National Associa- tion, unusual interest is being mani- fested among the members of the board in the coming meeting. Arrangements are being perfected {by the entertainment committee un- der the direction of H. G. Kennedy, its chairman. The Alexandria board have been invited as wuests of the local board i view of the fact that its members joined the Washington delegatjon in the trip to Cleveland. ART STUDY NEEDED IN WOOD STAINING Staining is keing used at greater length and for more varied purposes than ever before. Some woods when finished by adepts at staining make a better appearance than more costly and harder woods whose surfaces have heen'painted. A few years agb the softer or open-grain woods, such as pine and deal, were the only ones: ich were stained. But now, with |taste running to high colors, we find that the stain of many hues is the first application or bases of the actual finish colors. | { lunch poor ones. Therefore T do not wish 2 : 8ited | L say anything relative to the fu-|the usc of transparent coloring mat-|| growing sections. A > it ter. When this is applied to wood- | ture action of rallroad securities on|ier. Vhen this 1s applied to wood- 2109 & 211 the atack. Sxchang hasize |Should be as close to what nature 3 1 do. however, wish to emphasize|i,tanded the wood to be as is pos- that the railroads are having about} (FNCECuS TOOC S0 0€ KO 8 Dok | R l A N e 8 ot s ', ehind | cherry or wainut but the use of & . 1. Ave. I\.L. or labor, equipment and s eS| stain celdom strikes a respondent than they had at this time last vear.|thora If wihte. gold or some ether| Suitable for tailor, VIVl\en one takes into c n-'-ldfral!on color foreign to nature's dictation ni room and shoe store or good the increased n tenance charges.|resorted to. For instance, we iind many other lines of busines: this means that the railroads should | that, while bright green and purple | Y Siged . have this year $500,000,000 more toare not natural colors In woods. the FRED D. GIESLER spend than they had last year. use of these stains does not clash, be- Seven-cighths of this should go|cause they do not violate our sense 1333 G St. N.W. into general busin 1 cannot makel of fitnes: = b match house, holding two thousand dollars under its 3414 GARFIELD STREET N.W. The most desirable detached residential property: in Washington’s exclusive and restricted suburb. A home of individuality; highest type of construction and selected quality of materials used throughout. The rooms are spacious and well ‘arranged. There are many ‘added features—four baths; two enclosed heated and lighted sleepin; porches; large enclosed breakfast porch; entire house weather-stri; og flaors; cedar closet; open fireplace; tile roof; every modemn convenience, We are offering this prop , t . T INSPECT TOMORROW BOSS & PHELPS 1417 K Street N.W. N\ Corner House : OPEN FOR INSPECTION ipped ;- hardwo Garage to cars, crt}; for less than it-could be reproduced today—several . real value. 3 “The Home of Homes” | | | in Cleveland | / “THE' EVENING ' STAR, 'WASHINGTON, D. stree This mew central type, detached home, nt 34th place and G ssachusetts Park, has just been occupied by Jumes H. Win SEES U. S. BECOMING &WAGES UNDER $2,000 NATION OF RENTERS BUY HALF OF HOMES Magazine Says Situation Is Applr-;Amen'clm Prove Capacity for en Amount of Home Building. 1t Dple of the United States are fast be- comi true due This the large amount of home building in | proportion to the total building and may much of the home building has been | t, Thrift in Purchase of Houses. Notwithstanding Large ’ is quite noticeable that the peo-| Over one-half the homes in the United States are owned by men who make ng a nation of renters. This 13 less taan $2,000 a year. even beyond a natural tendency | Systematic saving will eventually get to the increase of population.|you a home. ~ is the situation notwithstanding| It a person at the age of twents-five will take $5 of his wages each week and invest it in building and loan assoct tion sh; drawing 6% interest, when he is thirty-seven he will have converted be explained by the fact that done !ur‘r:«nthl purposes, says Keith's | pig g5 of wages into a weekly Income of M‘:rl.;aznuh. LHR {11 re. |37 for the rest of his life and without Ay SSHOTEAED o omee ad T®* | making further payments will leave an mains. According to statistics the s estate of $4,300 to his heirs, or will proportion of home ownership has s been falling at the rate of 10 per cent |have $4,500 to put into a home. in each three years. cent home of our people are supported directly or_in In pald rent 1921, coma for rent from hous! the “owned well must be expended for rent alone. | CLOTHES CHUTE DANGER. Less than 50 per of our population own their own At the same time 11.000,000 1 he this account until he is forty-five it will bring him a weekly income of more than 16 a week for t t of his life and 1913 figures showed that a mun ;." s £ the neatof Miwjlife an 20 per cent of his income for | DS investment will amount to more than According to the last survey, | §11,000—which will build a good home. he paid ‘;'m,-}:-"|€e|':';.“1fm.h,:!,~(ll'~‘§ Comparatively few people who butld the place where the matter of | & home pay for it outright at the start. ing need not be considered in! 1In fact, the greatest part of the bene- family expenses, because they ,fits of owning a home comes from the their own home,” to where | habits of thrift, economy and self-denial, toward half of the total income | which are practiced, in the saving to jmeet the monthly payments by which ! the home is paid for. LUMBER AND MILLWORK directly by the building industry. — Insanitary and Fine Flue for/ 'N BU“.DING DEFINED Fires. | It is a matter of fact that a clothes | All Framing Material Used Put chute is not a very sanitary affair,| says ice bureau. flue ment. shou! Ev ing, space. of one same time it ought to be ven menace. chute does not seem to be worth the expense It involves. Small Cash Payment 1436 K Street S.E. || Open for Inspection Today Your Rent Money Buys the Home ||| in First Class; Doors, Windows, Etc.. in Millwork. It is customary to classify certain parts of the woodwork as lumber and certaln parts of millwork. Roughly speaking, lumber is all the heavy framing material that 1s used, such as joists, studs, sheathing, common boarding, etc. In this class also is placed finished flooring and generally outside finish. Miilwork comprises doors, win- dows, inside casings, built-in cabinet work, cupboards, mantels, stairs, etc. the architects’ small house serv- It also provides a fine should a ‘fire start in the base- This is the reason why they 1d be lined with metal. so, they are somewhat of a In a small house a clothes | Generally speak- though, it takes up very little life_should be but at the duet married sweet ®ong. course, grand, SATURDAY, JULY. 7, continues putting $5 a week in | 1923. REAL ESTATE, Care and Ihspéction Needed In Purchase of Building Lot BUILDING JUMPS DURING PAST WEEK Several Strugtures Planned| to Cost in Excess of | $50,100. Probable Increase in Value, Freedom From Easements and Quality of i Neighborhood Important. Buing land for a home site is fre- requirement is fixed to prevent the erec- i i ¥ - [tion of shacks as temporary dwellings, | adently like buying a second-hand auto- | et of ‘course, Becbace of the. et mobile. From a distance it may 100k | attractiveness and unstable value, fra- g00d, but upon close inspection the en- | quently injure the sale of adjoining gine and Inner works may prove to be | Proberty and lower land values next to worthless. { Naluc o€ Homve. Don't trust to heresay or to specula-| It is not advisable to bufld a lar tive judgment. Get the facts surround- | home in a locality where small Gwe, ing each plece of property you look at. | &S dominate. ther 151t good bu 1f property is increasing in value each | P¢55 to build a high-priced home on year this shows a healthy condition. | 10W-Priced lot. Many city lots with Such property may prove a good invest. | 40-f00t frontage allow very little land s e R | around the house. = OverERLec: In a general way the cash value of Find out whether you are expected to the land should determine the cost of make improvements, whether there are | the house. Usually a house should cost restrictions, or whether you may be as- about four times the value of the lot. sessed for new sidewalks, curbs, grad-| The cash value of the lot influences ings and roadways. Investigate the |the amount of money that can be in possibility of rallroads, trolley lines or | vested in the house. A house on a large other public utilities approaching the '1ot will increase more in value than property. These may be desirable and | one on a small lot. The Increase comes add to the value of the land. On the | from the land, not the house. other hand, they may prove detrimental | It is well to remember these points and tend to decrease land values, fiRgcause, it/ dt LA0Y time You care to Lot Shidia e i sell, you should realize that while the Be sure that your lot is free from lot increases In value perhaps more than Jthe house, at the same time, a good easements—that is to say, that no one has a right to erect wires, install water Large . building projects took a |Jump, as evidenced in the bufiding permits {ssued by the Commissioners this week, when the estimated value | of ‘the proposed construction® aggre- | gated $678,000. In the list are a num- ber of ‘bulldings which passed in' es- timated cost the $50,000 mark, among |them three churches, a warehouse and a bank, to say nothing of one | home building ‘project at an cstimated | cost of $120.000. | The list follow: | Shannon & Lu s to build fifteen houses, 3600 to 3628 S street, at a cost of $120,000. Barber & Ross, Inc, to build a warehouse at 6th and Channing streets northeast, at a cost of $60,000. Farmers and Mechanlcs’ Bank to build at 1207-1209 Wisconsin avenue, at a cost of $37,000. Sherwood Presbyterfan Church to build at 22d and Jackson streets northeast, at a cost of $50,000, Takoma Park Baptist Church to jbuild at 6803 Piney Branch road, at a cost of $65,000 | All Souls Cliurch to repair at Cathe- dral avenue and Woodley road, at a cost of $83,000. D. J. Kaufman to repair 403 11th | street; cost $1,600. 3d Little & Marshall street; cost $5.000. Christadelphian Church to build at 8th and Webster streets; cost $7,000. A. H. Bakshian to bulld, 1625 Con- cut avenue; cost 335,000, E. T. Simpson to repair 3342 M street; cost $3,500. Metropolitan Club_ to repair 1700- 1712 H street; cost $8.000. to build, 6307 house will'add much to the value of the pipes, poles, etc., on your land after you 1f, however, after a few years when your repairs that require digging and excava- | The following transfers of new right to do such things. Your lot ma: 4300 4th street northwest, to Mrs, H. Etchison to build an apartment, timate of probable assessment, Bond | House has six rooms. s lot. e ot e sorciase orie. veres SALE OF NEW HOMES these easements exlst to begin with and may not be objectionable In themselves. IN PETWORTH NOTED lawn has grown into a beautiful ap- proachment to your home, some corpo- | _ ration or public utility wishes to make tion, It may prove a matter of much an- homes in Petworth during the past noyance and perhaps a detriment to | v, v your property, if they hold a priorit, ,:::f‘ Weveizeported Ly D. (J-Dunts be unimproved—that s, without water mains, sewers, curbs, gas, etc. 1f these | Nellie M. L. Jenkins. This I & semi | are to be installed later rou should get | 5= © - e S S ‘ | detached colontal brick nouse 1401 11th street; cost $30,000. | because eventually these items must be 27 t, Yo Alvin C. K. Gish to build, 4407 Ellicott | Inciuded tn the total cost of your lot 304 Voonam oo t northwest; cost $5,000. |, In some localitles, to insure and pro- | o 206 Varnum street, to Herbert A K. Gish to build, 4344-4346 Elli- | tect landowners from decrease in values, | street northwesti cost §12,000. | & restriction is placed on the type and | 208 Varnum street. to Ralph s Nathan Smith to build an apart- | kind of a house vou are allowed to : ment, 1718 18t etreet northwest; cost |build. For example, suppose vour lot —_— $40,000. | costs $1,000; you may be required either| The skeptic cam't even got | 7 William Henning to build, 1515 |Dby city village ordinance to build & White place southeast; cost $5,000, | house costing not less than $5.500. This H. R. Howenstein to build four houses, 1347-1353 Pennsylvania ave- | nue southeast; cost $28,000. | G. A. Weber to repair 4311 Jewett | street; cost $2,000. | W. C. and A. Miller to bufld office. 1107 Connecticut avenue; cost, $48,000. Post Publishing Company to build | dwelling at 2808, 34th street; cost | $17,000. i M. Collins to repair 4602 14th street; cost $9,000. S. C.'Dawson to build shop, 1214- ' 1216 24th street; cost $2,000. S. D. Bronson to repair 1931-1933 14th street; cost $2,000. ¥. F. Scott to build, 1827 Mill road; cost $2,000, COST OF WALLS. Costs for stucco, shingles or siding for walls differ in various markets. Sometimes stucco costs less than| siding. Commonly siding is the least expensive, stucco the most and shin- gles about midway. The greatest difference s not very large. Wide slding costs considera- bly more than the narrow widths. High-grade shingles are more ex- pensive than the poorer grades. There are- varfous kinds and grades of stucco, with different costs for each. straight tip without looking for something crooked about jt. Massachusetts Park Washington’ most beautiful residential section of detach- ed homes. Containing seven million feet of forest-covered land, with six miles of improved streets. Includes what remains of “The Triangle of Increasing Values” between Connecticut, Massachusetts and Cathedral avenues (Woodley Rd.). Over four million feet of land sold. Over ninety homes from $15,000 to $200,000 built and under con- struction. Wooded villa sites, lots and central and side hall brick homes, with lots from 50 to 115 feet front—Park Office, 32d and Cathedral Ave. (Woodley Rd.). Middaugh & Shannon, Inc. Woodward Building, 15th and H Sts. Estab) | Adams JUST COMPLETED Price, $5,650 $51.50 Monthly New offering of madern four-room and bath homes; front and back yards, front porch; gas range, porcelain . : fixtures; cellar under en- delightful place. tire house: furnace heat: D N M. This 0 y f 1] plenty “of room for small o Not Miss garden and garage. seldom that new houses at this price are offered and we suggest your immediate inspection. SAMPLE HOUSE splendid bay front property. sgso up. Easy terms. Bay Rldge Realty From 3 p.m to ® pm. B. F. SAUL CO. in 210. 1412 Eye St. N.W. 1400 H St. N.W. —of the fine detached Walker-built Houses in The great demand for these homes means that will go quickly. 3905 Jocelyn St. 3931 Jenifer St. N.E. Corner 4lst Street The first is a beautiful 10-room and 2-bath Colonial house. e is a strikingly attractive corner house, built of Bethesda Blue QItnlte. ALSO SEE \ ' West of Connecticut Avenue 1 Sold—2 Ready—2 Now ! 3,000 People Spent J:l; 4th at 'BAY RIDGE Many of these selected and purchased of our beautiful water front lots and will build their summer homes at this —to secure a site for your summer home. y call at our office on the pavilion and let us show you over this Phone or Write us for Illustrated Booklet LANHAM & HILL ‘Washington Representatives Built As The Individual Would Build for Himself - Only Two Unsold . The attractive new detached Brick Houses, indi- vidually designed, in beautiful surroundings, on ALBEMARLE STREET OPEN ALL DAY TOMORROW Great Opportunity Drive down Sunday, Water front lots 50 by 200 feet Corporation Owner Phone Main 366 hey Must Be —because we only announced their readiness a week ago—and four have been sold. They are Kite planned and built—which is all the recommendation necessary. Located on the prettiest thoroughfare in Southeast Washington. Mass. Ave. and 16th St. Southeast schools, Chevy Chase, D.C. the remaining two Car lines, needed handy by. They.have been built for Homes—not for speculation— for living-comfort and housekeeping convenience. Six rooms, tile bath—front porch, kitchen porch and large sleeping porch. Splendid living room and dining room. Kitchen with sanitary tile-like finish. High grade hot-water heating system, separate hot-water heater. Everything for comfort and convenience. Second floor equipped for sink and gas stove—if you desire to install thern. OnMass.Ave . $8,250 On 16th Street . $7,950 We will make the terms very attractitve Sample House 1526 Mass. Ave. S.E. Open for inspection every day and evening Built, Owned and For Sale by Harry A. Kite Incorporated Member Washington Real Estate' Board stores, churches—everything The other / Building Phone Main 4846 1514 K Street l !