Evening Star Newspaper, January 12, 1924, Page 13

REAL ESTATE. Babson F inds Europe’s Gold Big Help to American Bonds Economist Reports Abnormal Invest- ments of Foreign Capital in This Coun- try Because of Greater Safety BY ROGER W. BABSON. Speclal Dispatch to The Star. WELLESLEY HILLS, Mass, Janu- ary 12.—The steady increase in gold imports from impoverished Europe is partly dccounted for by the anxiety of the European capitalist to protect his wealth, Russia and Germany have already collapsed and several of their néigh- ]in American securities for them. Iivery two or three years they come over, clip thelr coupons, reinvest the Income, lock the box and quietly go back home. It is probable that they declare nefther principal nor income for tax purposes at home. Gold Stream Increasing. All of this increases our gold im- ports, which reachcd a total of $300,000,000 last year. It looks as though this stream of preclous metal bors are In precarious shape finan- | Will increase during 1924. s gold clally. A capital levy seriously | Zenerves grow here our banks must e either loan more money for com- proposed by one of the great political | merclal purposes or buy more bor parties . of England. The French| Soms people believe that this in- frano has been selllng below & cents|fuX and the resulting lowering of money in the New York market. The heavy | poriod of teflaiied jead to indebtedness and economic distress of | not _hiur any such these countries Is not at all reassur- | American business, ~tod Tok to e ittetot h e ©|corded by the Babsonch is run- g 2 He faces ex-|ping at 2 per cent below normal cessive taxes at best, and confisca- a Any tendency to increase commodi tion of his property and wealth as a | Prices will encourage a flood of fo nother ersonally, 1 do development as Te- Dossibility. elgn-made _goods that can be sol Blitty . here, tarift and all, at low fgures. Favor United Stats Dollar. Stronz Bond Market Secn. Looking about for some place of | TIf refuge the European capitallst has |4 Bl g Th hostn. (hec AGRbeic : < the | ©f workers from Europe. They can- e American dollar as the!no” come personally. bit we must safest currency in the wo He is|expect their labor fn the form of for- | wow buslly engaged in transferring |clgn-made merchandise. his holdings to America fn one form | Under these clrcumstances it t were not for our immigration law we would be flooded with a wave BUILDING PERMITS Potomac Electric Power Company to Spend $400,- 000 Repairing Plant. Permits to build, aggregating in estimated value $729,300, were fssued by the District Commissioners during- the week. The list follows: H. A. Kite to build three homes, 782-736 Girard st. $21,000. M. P Canby to build five homes, 3702-3710 Reno road. $40,000. McLaughlin to bufld gas sta- 510 K st. and 925 6th st. $2,500. Potomac Electric Power Co. to re- pair plant on Benning road. $400,000. J. E. Benton, to build, 3830 Fulton st. $14,000. . D.' Garman, to build, 3012-3014 Channing st. ne. $10,000. Charles Wallingsford to build three apartments, 4020-4024 14th ‘st. $50,- H. A. Kite, to build, 344-354 W st. n.w $42,000. G. Hamlin, to bulld, 3340 Stuyvesant place n.w. $4,000. R. W. Henderson, to repair 1109 F st n.w. $1,000. E. G. Walker to build apartment, 1818 Vernon st. $45,000. . P. Delano, to build, 000. Railway Terminal 0 8 st Warehouse Co., or another. rman capltalists have | Probable that the banks will turn to | i . | to repair 519 Rhode Island ave. n.e. dumped merchandise into our mar-|bonds as an outlet for a larse part e e o | 92,000 5 kets at extremely low prices, often|of their surpiu Heavy i ment § ot ~ th e ? d bets =4 e he R RS s hrough | Howard . Gott, to build, 6 50th Eehie at o Tonny Jow prices, i A A AR B s ‘ort Suratogn. the original fort road being used ax a driveway to t| une. The sale was negotinted through | ., 0V the office of M. O. Bull. to strengthen prices. Adding to th man costs—in order to build up larg | n r\':whn balances in New k banks, |81 .;l‘lv;“n;mul iln\;x;stuunl m' uro | S Much money is com! as mer. | capitalists and the prospect of lower | ey rates and we have the pro e ] SRRl interescs, wiich tsce a | S5 & SuFonE Do WAREor T OB 513 HOMES ARE SOLD | TWOLARGE TRACTSSOLD |AMERICAN ARCHITEC heavy tax on capital exported, are « Bab: , the od statistici “ juanaging to buy u vorume of Amer ) and economisr, it contine his one- | BY GROGAN REALTY CO. | W CovsHmanOveH cial articles on business and fina cial conditions in next Saturday’s ————— |Lake Stone Company and Potomac Star. i - (ConmiEnt | Transactions Arranged in Various; Builders’ Supply Company | | Purchase Land. TRADES DRAW MANY | MOVEMENT IN LUMBER | Sections of City During | OF NIGHT STUDENTS STRONG AFTER SLUMP| s Week. { | Increase Is js estimated that several thousand | Juropean capitallsts are sending | funds to this country to be invested Several large tracts of ground have | been sold to well known Washing- |ton concerns at Loughborough, ac- cording to an announcement of the Allan E Walker Interests, The Lake Stone Company has pur- to Royal Institute. Mr. Alfred C. Bossom of New has Leen elected to the tute of British Archite He is | first American architect to be so h: = e | Sales were reported by the Grogan Indicated in Reports| peqity Company as follows: of 355 Sawmills to | The two-story brick home 1815 1st, { strect northwest was sold for Mrs. 60 Per Cent at Carnegie Tech i g - Association. chased a three-acre tract. This com- g S . Taking Courses in Build- {Jo_«..pm" Connell to Mr. and Mrs.| any \ill immediately construct a ored. He is the architect of the new jquently, of city 1nnu“\a,1u_e:}ss br;ul’hdl o0 Rines | A strengthening of the lumber| Ambrews Crawley. large plant, a garage, a commissary 'bullding of the Federal-American Na- out in a volume on “City m"’l‘ ! g es. movement of the country after the| The two-story brick bome 11| oo ee’ang a blacksmith shop. tlonal Bank here. Values,” prepared under the joint au- {holiday slump, is indicated In re- | Kentucky avenue southeast was|p ®yl) i %o o raroaq 1s| The Royal Institute of London,|thorship of Stanley L. McMichael, The Carnegie Institute of Technol- | Ports ceceived by the National Lum- | sold for Mrs. Helen M. Vasques to|¢, start at once on the constructlon |founded in the days of William IT, ‘l‘l‘ew!nnfl redalwr'z ’2“‘1 d“‘;]‘_’:";,‘ u!:e ©gy. Pittsburgh, announces that of |ber Manufacturers' Association for| Mr. and Mre. Ernest Lindblum of |of a large elling through the com- |has much the same functions as has [PINERGM. and Just Jasued, [rof 00 the 1.200 night students enrolled in |the week ending January 5, from 355 | York. Pa. pany's propercy. suppiy | he American lustitute. It has for |estate topics now being published the College of Industries, 50 per cent|of the larger commercial sawmills! The cen-room detached home| The Potomac Bullders' SubPlY ...y gecades conferred the honor of [with the approval of the National As- have signed to take courses in the|of the country. As compared w 2112 Al lace northwest was sold |Company has purchased more than |, ... .e fellows prominent mem- [Eocistion of Real Estate Boards. building trades. | Tevised reports from 375 mills ot | 5112 Alton place northwe |{wo and a half acres in the devel- . n- | ostling . of businesses for favor- | According to the report, the in-|the preceding week. production in- Adolfo Vinci of the Italian le- opment. Albert Lake, president of of the profession. but in the |l pic locatlons, absorption of business creased interest in the building con- ased 30 3 feet: shipment » to Mr. and Mrs. Thomas C.|the company, states that ratlroad fifteen years it b value tor one business from location, struction courses is conflned to no | 18,273,530 feet, and orders, 13,380, : of Pittsburgh, Pa. sidings and large warehouses will honor on_only ten the business reputation of its neigh- one branch of the industry, but is re- | feet of Pittsburgh, Pa. .{be bulit immediately. Among these are Giles G bors, ways in which planning of city flected in each department offering | The 128 reporting mills of the West | room brick home, 1448 B e ttect of the Liverpo 3 ilstreetse may help or hinder city building courses. In some of the de- | Coast Lumbermen's Association a street southeast, was sold for Misses nk Darling of Toronto, Raymond | growth, factors operating for and partments the number of studants!the 125 reporting mills of the South- | Charlotte and Mary Muhlhofer 0| ¢, 1y Charles W. Trazzare to Mrs. | Unwin, the town planner; alph | Jgainst the development of a special enrolled is from 200 to 300 per cent|ern Pine Association show anm in-: My, and Mrs. Harry C. Mammele. Fora Hallard. Kno. itect of the London Coun- |ized-industey city, such as Akron or larger than in the previous year. | crease in unfilled orders on hand from | The four-story brick residence 300 A ‘modern home, 209 11th street |ty Council Hall, and Sir Charles Ro- Detroit; pedestrian traffic lines and The courses in carpentry and In | T fect of the breceding | 1st Street southeast was sold for| . & MOSern WOWS, SO Il Sk J.|senthal, K. € M. G. of Australia. |the retail business values they carry electrical equipment and construc- 3,400,623 feet for the week | Mrs. Susie Connally to Mr. and Mrs.| )4 Moll to Dr. and Mrs. Charles W.| Mr. Bossom fis an Englishman b¥ with them. revolutionary fnfluence of birth, and was a student of for investment. tlon report the heaviest gains, espe- | ending January Joseph Ostriech, Trazzare. HONORED BY BRITISH! Designer of New Federal-American Bank Building Here Elected York Royal Insti- veral ced, to Dbuild, z511- $20,000. Gertrude 2517 4th st. n. T |BooK SAYS CITIES OBEY PRINCIPLES IN GROWTH | Volume on Realty Values Is Is- | sued by Dealer in Cleveland. Thie growth of a city under it ing haphazard and biind develop- ment obeys laws and principles just as does the growth of any other or- the |ganism. What are some of those prin- on- |ciples of city expansion and, conse- the automobile in advancing city de- clally in new students. Of the sixt For all the above s. bel A brick home. 510 3d stréet north- e 5 © strdet|important British schools of archi-|centralization—these and the thou- or more in carpentry enroled up to 5 of the seven renional”a cnst, wus sold for Mr. nnd Mrs. Boyd | nosyCorner Tesidence, 800 & “Habe | tecture, where he won numerous|gands of influences operating on city few days ago, more than forty were | making comparable wee Rockwell 1t Mrs. Sarah Fannle! ortcon to Mrs. Blanch . Warde. | medals for his scholarships and|real estate valuation are considered in new students, while the department |shipments were 117 per | Bryan 3 A brick home, 1815 1st street|3chievements. . ithe Sahibne, of electrical equipment and construc- | ders 126 per cent of For| . A th home northwest., wad told for Mr. Am-| One of the best known achiev Owners, real estate dealers, coity tion enroMed more than sixty new |the Southern Pine mills | Street northwest, was sold for Isaac| prews Crawley fo Mr. and Mrs. Dick | ments of Mr. Bossom was hjs restora- (planners and persons interested in and more than fifty former students. | these percenta | A. Bowman to Miss Louiza Robinson | p:aiiarg. y b | tlon of Fort Ticonderoga. the general subject of land economics The Teason for the heavy enrollment | and for the west coast mills, 118 and | of New York. “A six-room bome, 1517 D street| form the audlence to which these )f would-be clectricians ‘and carpen- [127. Most of the mills hav A new home, 2112 North Capitol | youtheast, was sold for Charles V.| Only 1 cbiidreniwe in |observations on concurrent movement Serm 5;’1’7;.’ ar is attributed by Carne- | mal production for the we. ace | street, was sold for C. H. Small 0| Rardin te Mr. and Mrs, Harry C.|s land in 19 Pifteen wWo: or |of real estate values will be of inter- age sonjenuthorities to thet high | ing to which actual producifon was ( Mr. and Mrs. Isaso A. Bowman. Spleiman. 100 years old dfed the est and importanc Db e at present in force in | per cent, §hipments 74 per cent, ' com detac! Teslienas. hes of work. and ord s 80 per ¢ uth: New Homes in‘a New Subdivision Detached—Semi-Detached—Attached Styles Frame and Brick Built by Breuninger Pedersen Co., on large lots to 16-ft. alley These Homes Represent a Real Investment Inspect 1026 Girard St. N.E. (Brookland) aths, large screened porches, throughout: h.-w. heat; best plumbing fixtures. Beautiful Construction guaranteed. Representative on premises. To irspect, drive out Rhode Island Ave. to 12th St. N.E., then morth on 12th St., three blocks to Girard St. Reasonable Terms Arlington Reaity Co. “Real Values in Real Homes” 1627 K St. N.W. ouk floors plan. Six rooms, tile Main 3174 L i Sample House 3719 Fulton St. Massachusetts Avenue Heights Homes $13,950 to $15,450 If there has ever been a home to compare to these, offered in this premier residential section at anything like the price, then we have failed to find it. No matter where you are considering buying, you cannot make a decision fair to yourself until you see these houses. We invite your inspection and comparison. Open Sunday 9 A.M. to 9 P.M. ESCRIPTION room with French doors leading out on back porch. Kitchen To Inspect: Drive out Massachusetts Avenue to Fulton Street, then west on Fulton to houses, or take Wisconsin Avenue car to Fulton Street. Wm. S. Phillips Buyilder—Realtor Second floor: Three large bedrooms, each with large closet tiled bath with built-in fixtures. Master bedroom, 11x19 are 10 feet wide and extend full length of house. Te inspect, take any Ninth street car to Georgia avenue blocks east to property—or phone for free auto service! Main 4600 15th St. at K N.W. Owner and Builder 1416 K Street N.W. Member of the Washingt: o flfllIIIIIIIIIllflll)lll!lfllliflflflllllfllfllllllllllIflllllllfllllllllfllllllllfllllélflllllllllllllflllflllmlllIHIIHIIIIIIII!IiIllIlIlIIIl' e Sherman Circle Homes You Can Save Money By Buying A Home Inspect These Homes Tomorrow Six large and spacious rooms. First floor contains reception hall, living room, dining cabinet, one-piece porcelain sink and drainboard and outside pantry; ‘service porch. OPEN AND LIGHTED DAILY AND SUNDAY FOR INSPECTION - MORRIS CAFRITZ C0 - Real Estate Boord = Belt Road A very excellent detached two-story frame: large front porch: seven rooms, two baths; two rear porches; electricity and hot-water heat; garage: price attractive. one-car $16,500 Thomas J. Fisher & Co., Inc. 738 15th St. NW. Main 6830 Chevy Chase, D. C. | Livingston St. near equipped with white enameled s; extra linen closet in hall; feet. Double rear porches and Decatur street; walk two Main 617 1 Considerable progress toward re- lleving the national housing shortage was made in the United States in the year just ended, as shown in reports of unprecedented building construc- tion in all parts of the country. Many who have followed closely building operations are of the opinion that the shortage will be further reduced this vear If there are completed the many, millions of dollars’ worth of construc- tion which has projected. One of the most encouraging fea- tures of the housing Situation, ac- cording to authorities, is the large amount of residence building com- pleted, under construction and plan- ned. This particularly applies to moderate-priced construction. It is belleved that for the most part the shortage of the higher priced homes already has been met. Those who now find It difficult to obtain adequate 1iving accommodations are the people who buy or rent cheaper properties. been a great deal of com- that houses are hard to rent in all parts of the country, although there is an abundance of housing for although at high prices. The course of building prices is problematic, In the opinion of build- ers, manufacturers of material and xperts who make a study of build- ng conditions. There appears little [prospect that building wages will |fall, because, even if material prices {Tall further, wages always are slower to move u or down than materlals, ount of contracts that exist loyers and employes. Of wages can move up faster than they can fall, under the contract syetem, on account of the fact that fwhen labor {s scarce it is the usual {custon to pay a bonus above the {regular union rate. 1t is more seldom Ithat labor, hen building Is less factive, 1e pzid less than the regular union rate. It 15 generally predicted that more komes will be bLuilt thls year even than were constructed Jast vear, An exclusively residentia Road (Cathedral Ave.) Over struction. Actual homes, with lots from 50 to 1 MIDDAUGH & been planned and| in moderate circumstances and those | 1 section of detached hom Containing seven million feet of forest-covered land, with miles of improved streets. Includes what remains of The Triangle of Increasing Values between Connecticut Ave., Massachusetts Ave. and Woodley 3729,3[11 IN WEEK’S iP rogress Made in Relief Of Shortage in Housing One of Most Encouraging Features Is Large Number of Residences Completed. which was the banner year. Tt is noticeable that home-bullding opera- tions are more and more moving toward suburban __districts. This movement is generally attributed es- pecially to the increased use of the automobile and to the fact that real estate prices within city limits a becoming so high priced. A survey of home buflding within | the last two vears shows that hom: generall re showing many arch!- tectural improvements. This is due somewhat to the ease with which archi- tecural plans may now be obtained. | There are a number of institutions | putting out simple architectural plans | and designs at a cost within the reach | of almost every home builder. Thess plans are to a large extent stand- | ardized and many different plans | put out e | MANAGER FOR JOHNSON. North Dakota Campaign to Be Handled by U. L. Burdick. FARGO, N. D, January 12.—U. L. | Burdick, law partner of former Gov. | John Burke, will be presidential cam- paign manager for Hiram Johnson in North Dakota, it was decided at a con- | ference of Johnson supporters here. |, Mr. Burdick was twice candidate for the minaf of governor of this but was defeated both | times by nn J. Frazier. { INVITED ON VACATION. | Realtors attending the coming Au- |gusta meeting of the ational Asso- |olation of Real Estate Boards are in vited to join an after-convention cation group being gathered at Bal- son Park, Polk county, Fla., under |the direction of Walter S Biglow, {No. 2 Lucerne court, Orlando, Fla \I‘l» secretary of the C eland Real |Estate Board and la chairman of th, realtor-secretaries’ division of the national assoctation. Reservations for the realtor get-together on a non profit plan may be made for two weeks or a month through January, February and March, five million feet of land sold. Over 150 homes from $15,000 to $200,000 built and under con- improvements and home values exceed $5,450,000. Wooded villa sites, lots and central and side hall 15 feet front—Park Office, 32d and Cathedral Ave. (Woodley Road). . SHANNON, INC. Woodward Building, 15th and H Sts. Member Washington Real Estate Board. F Rent Reasonable 13th AND EYE STS. N.W. Magnificent Corner Store Just Completed 100 Feet of SHOW WlNDQWS 500 Persons Residing in Building Suitable for Any Class Down-town Business B First- Office in Building Just West o with a spacious living room with linoleum on kitchen floor. Ovwners One of Our Unusually Designed Homes BUCHANAN STREET 1616 Buchanan Street NW. | The entrance at the side of thé house permits a center-hall plax, beautiful dining room and breakfast room on the other side, Second floor contains one large bedroom with private bath.an dressing room and built-in wardrobe, also three other bedrooms a; bath, including large sleeping porch, servant's room and bath in bas ment, two-car garage, oak floors throughout, automatic water heatel Convenient Terms Arranged Open for your inspection every day and evening until 9 P.M. L. E. BREUNINGER & SONS f 16th Street open fireplace on one side and & d Builders