Evening Star Newspaper, December 29, 1923, Page 13

REAL ESTATE. Babson Sure Keen Business Men Will Make Good Profits in 1924 Movements in “Central Zone” With ‘0 Big Boom—Success Lies in Sailing Ship Way Wind Blow, ¥ BY ROGER W. Speclal Dispatch to The Star. WELLESLEY HILLS, Mass.. Decem- ber’9.—4 year ago business was still improving rapidly. Nearly everybody tyfied to the new calendar optimis- tigally. The boom which started in theearly fall of 1922 was well under WEY and carried on to Mareh of 1923, én it collapsed! Business fell off diring the summer and this past fall talled to_come up to the expectations ofithose who looked for a continua- tion of the upswing. BABSON. confused mind. Tt is theé majority df business men today are hoping for a boom year, but it they are strictly honest with them- selves they must admit that they are not very confident of seeing thesd hopes realized. Many prominent men in industry have prophesied great prosperity. At the same time the numerous blocs represented in the new Congress are evidence that certain sections of the country, at | fied with things as the y business men, if asked if they ar making money, will shake their heads in a disturbed way. Europe is still sick and we cannot expect to proceed re- gardiess of conditions across the At- lantic. pd Calls Elections Harmless. Then there is the psychology of the presidential year. Does it mean bet- ter business or worse business? Some people contend that things are always unsettled previous to a national elec- tion. Others point to the fact that the administration will do zll that It pos- sibly can to help between now and next November. It been proven statistically, to my satisfaction at least, that elec- ns have very Jittld effect on busi- ness one way or another, provided both sides nominate good candidates. The evidence shows rather that busi- ~ness has a decided effect upon the elections. Whenever we have chosen a President during a period of busi- ness ~depression we have usually changed parties. If the election has fallen during a perfod of business prosperity we have usually kept the previous administration in office. This time nefther condition really exists. We are in a period between these two extremes. . Three Kinds of Business. It seems to me that the things to watch are in an entirely different di- rection. Business activity may be divided into three zones or Velts. (1) An upper zone, such @s we were in dur. ing the war and post-war periods. when everybody is optimistic, excited and extravagant. (2) A lower zone, when the reverse is true, when many are discouraged, and when a read- justment such as we had in 1921 and 1922 is taking place. (3) A middle zone, when conditions vary from only fair to what is called quite satisfac- tory business. This third zone is what we have been traversing for the latter part of 1925 and is the one in which we are toda: It is these periods between abnormal prosperity and depression, wheun things are nefther very bad nor extremely ac- tive, that are healthiest for the busi- ness world. Excessive prosperity, like very hot weather, saps our vitality, -inflates our currency, and drives prices out £ all proportions -to true - values. Such a period encourages speculatio rather than honest effort, and upsets our sense of value and the true pr portion of things. Again, the inevit- able and ensuing period of depression is heart-breaking. It discourages men and wrecks businesses that have Dbeen a lifetime in the building. Its Costs are written not only in dol- lars but in hunger, in want, and In human suffering. in business, as in weather, e healthiest. Continual Booms Impossible Unfortunately, - however, a large porportion of American business men are happy only during a period of boom. They are like the Individual whe can be comfortable only when it is 80 degrees in the shad Most of the time they are unhappy. It tands to reason that these busine fe to say that moder: conditions are As a result, the | busjness world is facing 1924 with a | men who insist that they must have rising commodity prices and specula- tive profits in order to do business and make progress cannot have this condition to help them much more than a quarter of the time. case, three-quarters of their business lives are spent In waiting for this particular business seasom in hich they are ready to operate. They are not contented With business when it is in the central zone and are ex- tremely unhappy during a depression. The entire business . community would be much better off if we com- plained o excessive booms as we | complain of severe depressions and if we ‘welcomed the moderate condi- tions, which are neither so very bad nor vet extremely good, as the proper | business weather. We ought to have more of this sort of condition | than any” other, and the iwise busi- ness man will set his plans to oper- ate under these circumstances. 1924 Central Zone Year. The facts indicate that we shall have such a year during 1 though some of it may b below aver- age, rather than above. In the mid- die’of 1922 improvement set in and with the help of propaganda it o'er- shot itself in the spring of 1923, Then we gettled down to fairly good busi- Jnens and may expect to.continue some what along this line the coming year. An important thing Lo rememb however, Is that a studv of the law of action and reaction suggests t area G below the averoge line should eventually equal the Ing boom area F° above this line. More than half o: this readjustment periol has already elapsed. How fast the reninder wiil develop remalns to he seen. Thoss who wlish to galvaaizs business into abnormal prosperity .re therefors working against the fnndamentals, What f business s most of ihe time below the avieraze line doring the coming months? This reaily does | not matter. So long as we keep within & few points, e way or the | other, from our X-Y lins of averaze | Browth, we can progress stewdil- ane make money without fear of the ex- | | treme fluctuation and_maladjustment |characteristic of high booms and deep | depressions. { What Barometers Show. Those "who are exceedingly opti- mistic for the next twelve months would call your attention to carload ings, which for 1923 ran 10 per cent over the highest year in history. This, they. say, indicates great manufac- turing activity. Bullding . permits during the last year have run 33 per cent above 1922, wnich set the previ- jous high point’ Bank deposits are {large, and money is plentiful. The oil situation is improving and tie motor industry, they say, looks good. To this, 1 answer yes—and the mail order and chain-store business Is iniproving land the crop situation is Zood ex+ | cepting cotton—and there wa have a 130" to 40 cent staple! Against these optimistic sizns we find many of our basic indusiries | suffering from excess factory capac- | {ity. Volume has held up, but profits have dwindled and many largs man- ufacturers are trying to readjyust cost so that they can continue to oper- ate without a great loss. Foreign | competition is becoming an increas- ing menace. The tariff wall helps, to be sure, but it is of temporary nature; and when the water has risen behind | the dam to a certain point it begins to_run over the ‘to Some are already feeling this for- |elgn competition. Others will prob- | ably have to, take it into account be~ fore the year is out, ‘There is.a pe- ctillar ‘thing about the forelgn Bitud- tion. If matters get worse over there we shall share in the shock which will go around the world. On the other | hand, when things, clear up over there will fot that be the signal for a rush of exports to this country? Efther way we look at it it is a problem. Purchasing Power Overstrained. Distribution costs, in the meantime, are increasing _rapidly. production usually speils lower cost | to make, but higher cost fo sell. In trying to keep all of our factories busy all the time we have developed a very effective sales organization, but the fact of the matter is that the number of things which the public is asked to buy has increased more rapidly than our national purchasing power. The automobile, the radio and & score of others of the newer necos- sitles and luxuties have come. In to WContinued on Fourteenth Pag: Only 2 Left at Once Jameson-Built Homes When you inspect the many features in these homes at 1010 to 1016 In this |- even [ Increased | = C St. SE. SAMPLE HOUSE 1014 C St S.E. —you are convinced.you have seen nothing to compare with these at the price asked. Only two squares from beau- tiful Lincoln Park. Six large rooms, bath, hot-water heat, clectric lights, cement frént porch, kitchen porch, large sleeping -porch, beautiful living room and din- ing room, kitchen with one- piece sink, built-in ice box and many other extra features. Built-In Garages Sold on Easy Terms Thos. A. Jameson Co. N. Cleveland Park SEMI-DETACHED BRICK AND - HOLLOW TILE HOUSES $13,500 R 27T O . $15250 Seven rooms, bath'and ‘extra ‘lavatory; ‘open fire- laces ; built-in fixtures. They.are.charming:hemes in a- éautiful subdivision. - It will pay you to see them. Open Daily and Sunday, 9 To Inspect: AM.-6PM. 7 ‘Take Wisconsin Avenue Car which passes property st Veagey Street, :r drive out Mn‘ndl‘g‘ttq Avenue t6 Whn:-':i- Avenue, then north to Veazey Realtor—Builder Street. 3 15 St. at K St. N-W. STAR, ‘WASHINGTON, D ¢, SATURDAY, DECEMBER Willlam L. Radeliffe ix now residing in thix new home at 32d street and Woodley road, Massachusetts Park, FROM MT. VERNON " PERMITS SIS e e Will Be Used to Form Symbol of Aid in Home Ownership in Augusta Next Month to Development. Witness Ceremony. {Two Enterprises of $53,000! and $50,000, Respectively, | ©Omcers of the National Association 5 ? |of Real Estate Boards who will take in Week’s Total. A section of chestnut log grown on Mount Veryon has been made available to the National Association of Real Es- tate Boards for the creation of a con- ;rcle symbol of the part which the as- sociation has taken and is planning to take in the development throughout America of the widest possible home ownership *and -the protection through wise public policies of the best interests of the American home. The timber, coming from the home that housed the father of his country and that represented the finest flower- ihg of the home life in the days of the laying of the foundations of the Tepub- le, will be: used to embody for the as- sociation the type *of the American home. It will be. made a symbol of the | 1deal of service of the realtors irf the | development of home ownership, in the furthering of home beauty, In_the pro- tection of home neighborhoods against business encroachments and in the safe- guarding of home valués against the undermining of excessive tax imposi- tions and other destructive legislative policlés. - As such a symbol, the em- Hodiment ‘of the - American home will used in the fo 1 ceremony which will mark the induction into office of officials of the association for the com- ing year. The /installation: will - take place aswpart of the program of the midwinter meeting of the association's national committee, to be held at Au- office January 18, and-who will tbe formally inducted into office at the coming Augusta meeting of the as- Building permits issued by the Dis. | Soclation, are as follows: trict during the week aggregated in| President, H. R. Ennis, Kansas value $145,900. The list follows: | City, Mo.; vice presidents, A. J. Kelly, Hungarian legation, repairs, 2929 | ir. Pittsburgh, Pa.; Frank H. Pur- Massachusetts avenue northwest, $19,- | Ington, Boston, Mass.: Russell C. HIill, 000. | San Antonio, Tex.: Caldwell Norton, Middaugh & Shannon to build 3100 | Louisville, Ky.;: Paul C. Loeber,, Chi- ‘Woodland drive, $53,000. |cago: Ogden A. €onfer, Minneapol Cleveland Park Club to build Reno | Benjamin Watkins, Atlanta, Ga.; C. road and Highland place, $2,500. | €. €. Tatum, Los Angeles; Claude D B. H. Gruver to build nine houses, | Richards, Salt Lake City, Utah; W. 1225-1241 Trinidad avenue northeast, | H. Bosley, Toronto, Ontarlo; secre $50,000. |tary, W. H. Dyer, Cincinnati, Ohi F. Frazer to build store and apart- Hirman S..0Oody. Chicago, ment at 1115 Pennsylvania avenue | lreasurer, southeast, $10,000. 1. W. C. and A. N. Miller to build 3111 | _Directors, term expiring 1925, Paul 44th’ street northwest, $7,000. E. Stark, Madison, Wis.; Robert Jem- Rosslyn Steel & Cement Company to | ison. jr, Birmingham, Ala; Charles repair 30th and K streets, $1.000. | G. Edwards, New York city: Frank E. W. Lamond to bulild 10 Willow | Craven, Philadelphia, Pa.; Frank. L. street, $5,000. 3 | McNeny, Dallas, Tex. J. P. F. White to build 230 Hillside | Directors, term éxpiring 1926, Ivan place, $2,400. | O. Ackley, Chicago; H, R. Enns, Kan- —_— |gas City, Mo; W. & Shannon, Wash- In Panama, New Year day is the| in&ton, D. C. [inle - Cocke. L day of chief celebrdtion of the winter | lumbus, Ohlo; E. B. Arthaud,” Ho- season. The entire upper class of duiam, Wash. the native population gathers at the | Directors, term expiring 1927, John |clubs. Dancing is the chief amuse- |T. Sloan.«New Haven, Conn.; jment until midnight. Then fathers, -~ l!i‘- nl!-‘{;-'"-h- Nebr. G .17 ol mothers, husbands, wives, sons’ and | P. Reaum: troit, Mich. . usta, Ga. January 17 to 19, inclusive. | 5a ghitera and friends all salute each | Gardner, Winhipeg, Manitoba; J. 1t is planned that the Mount Vernon fites W relic shall have a permanent place in i""‘“ Wwith a kiss. Hannauer, 'St. Loufs, Mo. the_association’s assemblies, The trophy was secyred through the ouirjesy Of the.Mount Verin Assosia- | tlon. W, New Apartment 1825 Florida ‘Ave. N.W. (Just West of 18th and | You Sts.) I ‘2 Rooms, Kitchen and Ready for Occupancy | B. F. Saul Co. . 1412 I Street N.W. I HOMES OF DISTINCT V CONSTRUCTION—LOCATION—PRICE. - - An - exclusively residential section of, detached 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 Ave., Massachusetts Ave. and ‘Woodle; Road (Cathedral Ave.) Over five million feet of land sold. Over 150 homes from’'$15,000 to $200,000 built and under con- struction. - Actual - improvements and home values exceed $5,450,000. ‘Wooded villa sites,” lots and: central and side hall homes, with lots from 50 to 115 feet:front—Park Office,-32d and Cathedral Ave. (Woodley Road). MIDDAUGH & SHANNON, INC. Woodward Building, 15th and H Sts. Member Washington Real Estate Board. . se'palatial homes are constructed to present an, ideal residence for: the most exacting. . Tie -.n,u&‘}f.‘\iu& are most luxurious.in design and the rooms are beautifully.laid out,to,reduce House- R %o & minimum. One cannot fatl to be impressed with the 'wonderful. value'\and ' investment these homes offer.- Start the mew year Fight—inspect today! i Gf A - g o FE A FEW NOTEWORTHY FEATURES ‘Unusndlly large porcheés with artistic "fl" cg.m low ;™ Spaclous hal} dgors to_cemimodious din} uch doors to it it : am‘:‘x%%"’ Grecian brackets, orom " Grectan e iien cold- storage: bE 1ok, cot bin ides U 1 THREF-CAR BUILTIN HEATED GARAGE. B BPACTIOUS\LAWNS L/ " INSPECT.OUR EXHIBIT HOUSE TODAY—4205 16TH ST. N.W."' : i OPEN, JIGETED. AND HEATED EVERY DAY UNTIL 9 P.X. - i RE RS 914 New. York Ave. - [THEJoSEPH SO Saro A :29, -1923. S161 G50 INSALES REPORTED BY FIRM - Hedges & Middieton,. Inc., Dispose of Property in Vari- ous Sections of D. C. ! Hedges & Middleton, Inc., announced foday the recent transfers of fifteen properties, ‘aggregating in value | $161,850. * They follow : A detached home, 3803 Jenifer street, was purctased by Judge L. L. Hamby from Charles Conradis. It is situated on a large lot having a frontage of 90 feet, and has ten rooms. Jobi E. Sinclair sold to Samuel Shin- berg - rvesidence, 1823 Corcoran street northwest. The house has nine rooms. A tolontal home, 1329 Randolph atreét northwest, was purchased by J. A. Ed- gerton from A. B. Cauldwell. It has elght rooms. 7% buflding lot located on the south- east corner of 26th and Edmunds streets, Massachusetts Avenue Heights, was sold _for Blanche B. Barrows to Harry P. Huddleson. Dwelling May be Remodeled. A residence, 1327 L street morth- west, was purchased by a local investor. from L. Kate.Cauldwelk This property probably ywill be remodeled. - One of the mew houses, 10 Bryant street morthwest, recently completed by C. H. Small, was purchased by F. H. Rowzee, It is of tapestry brick, havivg six rooms. A six-room ‘and “hath colonial brick home, 3932, New Hampshire "avenue northwest, was gold for Dr. Lawrence Klare to R.'R. Freese. | "W J. Nevius purchased from Arthur i J. Delevigne a- residence, 133 Spring road northwest. This property has six -ooms. O three-story, ten-room._brick dwell- ing house, 3011.11th street northwest, was gold_for Mrs. C. T. McCormick to Josiah T. Settle. It contains eight rooms. North Capliol Street H . J. W. Lacey purchased one of the new homes, 2314 North t.‘ax'aflol street, { recently completed by C. H. Small. This house has six rooms. ¢ A detached frame residence, §14 Quintana place northwest, was sold for G. B. Likens to William S. Bragg. It has six rooms. 'A local investor purchased trom F. H. Rowsee a_colonial dwelling, 1329 D street northeast. It has six rooms. A building lot on Girard street north- west ‘between Georgia and Sherman avenues was sold to a local builder for c W. Read. A _colonial residence, 3326 17th street northwest, was purchased by Mabel Jo- sephine Betersén from Pearl M. Joan- nini. It has six rooms, SOUTHERN STATES ASK VISITS FROM REALTORS Real estate boards of Birmingham, Ala; Charleston, 8. C., and Savannah, Ga., have sent formal invitations to members of the National Assoctation of Real Estate Boards attending the coming meeting of, the assaciation’s national committee at Augusta Jan- wary- 17-19 to visit their cities. en route. Florida real estate boards have united in fssuing a state-wide invi- tation for, post-convention realtor visits. Arringements are being made for the formation at Augusta of parties to.make tours of the various Florida sections, and every city vis- ited “js planning to. show its hospi- it; $36,000 1728 Eye St. N.W. Very excellent 4-story building ; adaptable for re- modeling;- 17 rooms, 3 baths; electricity ; lot 20 ft. front; 1920 sq: ft.; alley; inspection by appointment, Thomas J. Fisher '728 15th St. N.W. == The houses heating ==aE==n " flooring s g ST, Most modern kitchens contain many unusual features. Built- in garages; Murphy in-a-door bed in one bed- room of each’house. heaters. Many other.outstanding features that must be seen to convey a true impression. REAT ESTATE. National Drive Undertaking by the National As- sollation of Real Estate Boards of a program Invelving the of matters of real estate values, rea estate utilization, rental condition, {eity butlding and rebuilding, real estate and general taxation, and the bullding up in real estate dealing of high’ business responsibility and far- 3eeing service to the community, will 1be the matters of géneral importance {to business development and to the Gevelopment of bettered living con- ditions nationally that will come be. fore the meeting of the national com. in_Augusta, Ga., January 17 to 18. L. F. Eppich of Denver, -president of the associdtion, will present to the meeting the program for the asso- clation as recommended by the di- rectors with the concurrence .of both present and {ncoming officers. The program includes gathering a com- prehensive body of real estate data and principles, developing real estate education, and advancing real estate Gevelopment through board organiza- tlon and through state and national tegislation. Directors ‘of the association will meet with its officers, with its ad- { visory board and the heads of its I preceding, and January 19, following the national committee meeting. Members Back Tax Cut. The assoclation’s program for tax adjustment, federal and local, will be the keystone of its policies in mat- ters of public concern. Charles T. Moffatt of Minneapolis, chairman of the taxation committee, which has made a continuing study of tax in- cidence, will present the whole sub- Ject of taxation, in which real estate as a baslc wealth in every community has a very vital concern. Working Out Series. A recommended series of adver tisements for usé of real estat boards, newspapers or individual real estate firms evervwhere in the growing field of institutional ad tising has besn worked out by the committee and will be presented to the delegate body. / Specialized activities of each of the seven great divisions into which the association last year resolved itself for the carrying on of business re- search will have a prominent part in the discussion: Growth ‘of the di- vislons has proceeded so rapldly in their one year of existence that it is planned to set up for the coming vear a definite secretarial service and taff for each division, thus con stituting them practically seven in- tegral speclalized national associa- tion Hiram S. Cody of Chicago, chal man of the mortgage and finance di- visfon, will present the undertaking by that division of the maintenance of a sound normal direction of in- vestment money into real estate se- curities. Irenaeus Shuler of Omaha, chairman of the home builders’ and subdividers’ division, will outline the plans of the division for national ex- change of experience in_the laying out, financing and sale of residential construction. Howard Whitcomb of Boston, chairman of the brokers' di- vislon, will report the study of prob- lems In business ethics and in busi- ness organization. Beardslee in Charge. Louis B. Beardslee. of Chicago, chairman of the industrial division, clalists In industrial property : to Just complctcl,r redecorated. Immediate Phone for condition. on reasonable terms. 1430 K'St. N.W. CLOSE IN This is the last operation.of its kind in Wash- ington located so close to the business district. The WRECO ‘car line passes just two bloc| . away, at 4th and H streets northeast, and the Capital Traction Florida avenue line passes one block away-at Sth and Florida Ave. northeast. are of brick construction. bathroom equipnient; 'ENVIRONMENT Two grade schools are located close by’ the Central and Eastern High accessible on either car line. Chain stores, drug stores and shopping center.within short radius. PRICE—TERMS 8,650 A Cash Payment of Only '$1,000 Is Required and the Balance Can Be Paid Like Rent. ACKEEVER «4GOS Mazing 1415 Eye St. N.W. fl [ | M m fi clarification | mittee of the association, to be held ! alvizions and committees, January 16, | | establishment by realtors o terms and commission will project the undertaking of spe-' wo Exceptional Homes| Priced Low 1327 21st Street N.W:, $16,000 Price reduced for quick sale. Attractive nine-room and two- bath house, containing all modern improvements, with g The plants are controlled by automatic thermostatic system. Tongue and groove sub- under- hardwood floors throughout. the Automatic hot-water schools are easily 13 to Clarify ? Realty Matters Is Planned Program Now Being Worked Out for | Presentation to Association Conven- - tion in Augusta, Ga., Next Month. 1 peration up of the ink cities. B. chairmati division, will fora- cast the entrance of scientific meth- ods into farm lind dealing through the ,study of an acceptable basis for appraistag the value of farm lands Louis T. Orr of Chicago, chairman af the property ma aivision, will report the investigations of mari- agement specialists. J. Soule Was. terfield of Chicago, new chalrmaf, will speak for the realtor secretaries division. Real work out, through problems of building Faast of of the farm land estate education, as it has been d pped motably during the past vear and as it looks forward to the coming of a profkssional staty for the real estate broker and oper ator, will be a large topic of the con vention discussions. { Paul Stark of Madison will outline the establishmen the assoclation of year course in real being widely adop! throughout the Uni the sketching of a four-y course in real estate throu eration of the as: of American u leges. Wig. ihrougii versities Will Present Plan. He will present the plan of the sociation to have ready to off. few months a compl correspondence now in course of men in the busine ing the business access to professional preparation. A campaign for development i every real estate board within the association of an appraisal committer qualified to make expert and author ftative evaluations of real property is the plan to be brought forward by the association’s appraisal commit e. aul C Loeber of Chicago wi report for this committee of state real for protect and m who ha estate i pul s an as_the and on: reportec ago com by Joseph chairn Frank Ryan of Los Angeles will port for the committee on business ethies: Emerson W. . Indian apolis, will report on city planning L. L. Oeland of Madison, Wis., on the multiple listing plan for real estat boards: Bartholomew O'Toole of Chi cago on “Own Your Own Home” ex positions. as by & Brigha housing: R. R. Otis of iniforn R. Hastings of building and loa L. Weaver of Was relations with_the merce of the Unit Richardsqn of Jac reinstaterhent of ho in the southeaste: Among the of importance that will come decision will be amendments constitution and by-laws pr for increase of membership dues to make possible the carrying out of the enlarged work which the association proposes to undertake and fc ciprocal _provision with membership between and the vario tate zations and H. 1 Fla.. or age. Possession Inspection 3201 18th Street N.W., $24,000 Beautiful ten-room and two-bath corner house: all outside rooms. Hardwood floors throughout; garage, etc. Must be seen to be appreciated. Can be purchased One of the most attractive and substantial houses n this exclusive section. WARDMAN In excellent o [N ——] Sample House 1160 4th St. N.E. (ol c——]o|c———=jo|——olc——= {lc——= o] c—2 o] c——=u] £