Evening Star Newspaper, February 9, 1924, Page 17

\ ESTATE. ' MarylamBusiness Gainsin Year; _Virginia Falls Off Five Per Cent Babson Find.sf West Virginia Has Not Changed--Sums Up Conditions in Big Eastern Industrial Centers. Special Dispateh to The Star. & ible] scene of industrial difficulties BARSO Fla., February i gpFing. Though the latest ten- gt o wiin of § per cent, | dencies have been somewhat more New York & 2 eiini gt unan O | fayormble Trom . sales sgandpoint. New Jersey § per cent, Maryland 8 per Fthé labor outlook fs rather important., cent, Pennsylvania u loss of 3 per cent, | In summarizing the situation in this per cent and West | 5‘[‘(“(;!1 three rather interesting points ) stand_out: in business condi-| " “There will be but fow wage ad- red with @ year ago.|vaces during 1924 in New York, Penn- the middle Atlantic i}hu;xln.{‘ 1‘;!‘.\\}\;”-;. it & & e ; o Maryland .and the Virginias. vage le ate fairly good. “At| ygvanees, ‘of course, a direct and snnsylvania slightly | powerful stimulus to local business. simila In fact. some directors of d in Th hows 5 comy Conditions in states as a wl the moment I weak, showing which months gard them as ome of the im- portant guides to a locality’s buy- | ing power, especially if their mer- chana of a kind that appeals prarticularly to industrial wage work- ers. During 1924 it will probably be difficult to find v localities where At best. are likely to remain at about on a level, and in many places mod- erate reductions will probably be witnessed. Recent Wage Advances. Among the localities in which wage i amounts, have come to attention there can sted Steelton, Pa.; Wilkes-Barre, rbondale, Pa.; Baltimore, Md. Morgantown, W. V wirmont, W Va.; Binghamton, " Syracuse, N. Y.. and Buffale, N. Y 2, “Any Jegislation resulting { ! leral taxes should he beneficial to th North Atlantic which pay—or, rather, “col- —about one. 1f the total taxes the government. Reduction of taxes would be a jevery type of which many ov jof these beneficiaries into three d ltinct groups. First, is T city or town which ha L ry energy toward attract- ing and developing new industries. Such programs have been handicapped by the tendency al to shun tax-infested TUndoubtedly many of = in this group of 1 from this older localit. due largely rt of the wple, man tures represent A3 per cent of pre tion. Though New York has shown a tendeney toward improvement, f general bu mding period a year t. al ing about 93 per of produc of this tot; ed in N treme concentr situation for Furthermore, hawk Vall, 3 in New York nd the job- & Shipping, commerce | redliction of fed a e bing interests must co: ntrate at the port. There is no good reason why fa tories should not spread out into m Tural sections where living condit are better, power is plentiful and c. are lower. Business Is Slowing Down. Twelve months ago business tmproving rapidly in the middle Tantic States and slowld in the of the country find exactly The middle Atian ing_down, while other regions arc picking up. Admitting | that the situation may be only tem- porary, it is interesting to note its significance. hile, at other ions hav taken the 1 and this certainly suggests watch- fulness. It is a tre which has | sometimes preceded a recession. 1t is especially interesting to notice that this tendency toward recession in_ the middle Atlantic group w: foreshadowed a long while ago by decline in 2 York city bus The logical result of this dip in N York city was a reaction in sur- latest me The pol bendi ti < hav cond. there is This has been aged not only by the attitude of but by the loss of labor. L as been diverted into public en- se not directly productive . there is the rural community uccumbed to temptation and s d n reduction pri gram rigorously carried out, all the groups of localities will ge lease of life and new busi will be ereated. any one tonic, it i duction. Advertising Shows Trend. 3. Newspaper and magazine advertis- ing Dl very important part in the activities of this section. { careful com- parison of the volume of advertising in ome of the important cities of these X tes an interesting relation vertising and the trend of New vertising ‘When they are not e nounced to indicate w portant turn has been When the entire region is ex-| amined it is still possible to find many localities whieh are holding up fairly well. For example, business cpportunities should still be found in Eimira, Rochester, X Passaic, N. J.; Hagerstown, Md., and Wilmington. Del. Active efforts are being made to} secure improvement for the fort of Oswego, together with deepening of the Hudson river route. so that the apital district around Albany may become more of an inland port. Richmond Trade Good. es of wholesale houses are hold- | ; ap fairly well compured with the vonding period a year ago. Th able in the c of hard- | ware in the New York district and groceries in the Richmond district, to cite a specific example. | On the other hand, overlook t N d a measurement trend of its bus ate that phia and Roc With general busine per cent_above nor < the cufrent position art, it is probs running slightiy > definite trend running about . as indicated f the Babson- | ble that the district under normal, but in one way or the not ' the ve should naller ness. For example, the | both newspaper | { The THE _EVENING _STAR, WASH BULDNGPER DING PERNTS REACH 557400 Many Large Projects Are In- cluded in District Govern- " ment Report. | i Bullding permits aggregating I estimated value $557,400 were issued by/ the District government during the week. The list, which follows, in- cludes many large projects: Irwin, to build, 4120 Garrison , to build, 511 Whittier H. Berman, street: $5,000. Fred H. Gore, to build, 5317 39th| street; $7,000. M. Cafritz, to build 10th street; $200000. G. P. Cary and B. D. Ladd, to build, $5,000. United Supreme Council for Colored Masons, to repair, 1631-1 11th street_northwest; $3,000. . to buiid, 3311 Morrison to build, 1676 32d garage, 1220 to build, 3728 Harri- 000, Plumbing bhuild warechous: 4100~ avenue; $20,000, Kenyon, to build reet south Cunning Supply | art New home ot 12027 Rhode Inland avenue northeast. {601 7th street northwest; $§,500. BANK lN NORTHEAST i s soewsen | HIQVES TO NEW HOME | Wardman _Construction Company, to build, 3217 Cathedral avenue; $15," | eler road southe £4,200. > { | Structure at 2027 Rhode Island | Avenue Just Completed at $40,000 Cost. th, to build, 1932 Jackson to repair, 1§10 13th | Oil Company, to bu fon, southw corner avenue and Harvard street; $7,000. Penn Oil Company, to build gas station, northeast corner Tth street | and Maryland avenue southwest £7,000. a4 gas | Sherman The Woodridge-Langdon Commer- cial and Savings Bank has moved into its new building at 2027 Rhode !Island avenue northes The struc- | . Bartlett, to build, 3702, North- ey hadn: Completial aeinl ture has just been comple ! ampton stree: 500. H E imately §40,000, and | aricld Memorial Hospital, to build | cost of approximately 4 ,r0> " 1-‘1 po 11th street and Florida | was occupied this week by the bank R ach i It is a one-story structure, of brick | emorial Hospital, to build | and lmestone trim- < s 2 construction and e The interior is decorated in with brouze screen trim- | t to build station, ' orida avenue and ! mplain stree ndard Oil Company, to 31 Bennings road northeast; 1 cson, presiden yresident » preside and T. ! Hende Pulld grst vice ymons, vi Oil Company, ta build :w York avenue north- )""‘-"" . |SELLSCOLUMBIAPARK | maaue onis masase. | AND PETWORTH HOMES | With the election to.membership of | ‘th»! Wilmington Real Estate Board, I { Wilmingeton, and the Jac { RReal rd, Jackson, Miss jon acquires its first : n those states. The |a tion now member hoards | in every state of the Union except| one. | on . the : ! Realty Firm, Involving Six- i Room Structures. - s in Columbia Park and Pe a by D. J. Dunigan Ingraham street Ingraham | to Clifton Stinnet 635 Ing ) t. to Mrs. Coral V. Bab-| "3d. street, to ‘Walter F 205 Varnum stireet, 1o And 3% Phese houses have | wch. Home i worth, were sol se other is yet indicated in this sectio 0 am situation is fairly well balance and will bear close watching. street, Mr. Rabson, the noted statistician and husi. ham Stre ness expert, who ix now at his winter hom cock: 4 da, ‘will continue his special articles (‘rowder, exs_and economic conditions i Mark six rooms We Wish to Announce That MR. L. C. MANNAKEE Formerly of William S. Phillips and D. J. Dunigan Is Now Associated With OUR SALES DEPARTMENT And Will Specialize in Business and Investment Property N. L. SANSBURY CO., Inc. “Everything In Real Estate” 1418 Eye Street N.W. Main 5903-4-5 Member of the Washingtor. Real Estate Board 2807 Connecticut Avenue Between Woodley Rd. and Cathedral Ave. New Building Housekeeping apartments of 2, 3 and 4 rooms with bath. Elevator Service Special Unique Feature, a Radio Outlet in Each Apartment Ready About March 1st THOMAS J. FISHER & CO., Inc. 738 15th St Main 6830 Without Question the Best Value In This Location * Just Off 16th St. N.W. Tnsnect Before Purchacine F , kxhibit House, 1427 Varnum Street $13,250 DESCRIPTION Six_large, spacious rooms, tiled bath and shower, extra shower in baxement, attic over entire house, oak floors through- out, outside pantry and built-in ice box, white enamel kitche: cabinet, bullt-in ironing hoard and many other unusual fea. turex. Large conmcrete front porch, double rear porches, two sleeping porches. Deep lot to wide alley. Open and Lighted Daily and Sunday. Representative on Premises To Inspect—Take 14th Street Car to Varnum Street or Motor Out I6th Street to Varmum ‘MORRIS CAFRITZ Owner and Builder W. i | 1416 K Street N.' : Realtors 1472 Spring Place (Just Off Sixteenth Street) Open Sunday From 1 to.6 P.M. _The owner of this attractive Br.ick Home has purchased a larger home and yvxll make a very good price in order to sell quickly. This property is tapestry brick—23 feet wide—run- ning back to Ogden Street, with a built-in garage. 5 The first floor has a reception 'hall, living room with open fireplace—large dining room— glassed-in breakfast porch, pantry with built-in refrigerator, and kitchen. Second floor has four bedrooms, two baths and a glassed-in sleeping porch. = The entire property is in first-class condi- tion; all windows and doors are. screened and metal weather-stripped. The hot-water heat- ing system pipes are asbestos covered. Awn- ings for all windows and porches. In fact, this is an unusually complete home. See It smdny ,‘,,"Memzvmu Sosq M. 4752 ervice -Langdon Savings and Commercial Bank, at gFive Transactions Announced by - { tual Jabor INGTON, ‘D.- C, SATURDAY, FEBRUARY 9, { this property will be razed and work | immediately on the! ONE-SIXTH OF RENT PAID OUT IN TAXES | | i i | | i | Survey in New York Shows Heavy Burden on Property Owner and Renter. 1 { | received by | being turned sovernment in taxcs nt Jocal t itu:‘n(-ni wcording to the the v York. will One-sixth of all mon landlords for rent over to the ¢ under the pr n New York c findings of an inv. Merchants' Association of ¥indings of the be significant where real ¢ leadership of t) st investigation ryirg | s for reduction of the lo- | as the national tax bur- have been | factor in_the fonal taxes contributy t of rts on the brought out by the inv xes on land have cost of the propert can be built, X B 4 iron reased the cost of the inio the house. T: facturer of tiles h: €ost of the roof. T £ cturer of plumi fixtures have increased whether the house pure . he must pay not 3 and material in 0 for arn i for the : the build- | sle but ex- | of govern- but a ment tax, \ 7227 % W. GILBERT DENT President G. LEA STABLER Manager of Sales MISS CATHERINE MURRAY Manager of Rents PLANS A4 swell the v fowning is thi TOCOST 5000 |F. H. Smith Co. to Erect 8- Story Building at 21st and Massachusetts Ave. The property on the southwest cor- ner of 21st street and Massachusetts avenue is to be jmproved by an apartment house valued at $1,100,000, | according to an announcement of the | F. H. Smith Company. The old building covering-part of will be started future improvements, which will con- sist of a modern fireproof building of cight stories and basement, with an ctive exterior of brick and lime- rtments, divided int large rooms and h. Iding will front 107.33 feet chusetts avenue and 114.25 st street, with a thirty-foot the rear and containing feet. REAL ESTATE LEGACIES RISE AS STOCK SINKS Value of Two Forms of Investment Demonstrated in Frick Case. Experience of the estate of the late Henry C. F magnate, pr contrast s between 1 th investments in S story of the L Boards pointy out of the rl‘filnd Xecutors court of Pittsbursh. While the total value of between the time of and the time of dis shrunk from $100,000.000 to | $50,000.000 luss of the r ox fr nr i at invent id for $5,000, in making up a lurge » heiped to make up lurizc loss caus=d b art of th me of th wrinkage in nd stock met with . the renl estate holding no shrinkage, and helped ue of estate. 2 1100 PER CENT HOME OWNERS BEING URGED Campaign Is Launched by Fort! Worth and Dallas Business Interests. Making their city 100 per cent home- goal which Fort Worth, piovers and busine iy have fet in co-ope with the Fort Worth real oard, according to a report m National Association of I Tex. estate de to al Es- threefold object of the n-home move- vers, holding s own s a be ter ¢ who ren coura aid emplo and others to build or buy their own hothes. Zzzezz P, GARDINER & DENT, Inc. Realtors Announce the Removal of Their Offices to Their New Home in the Dent Building 1409 L Street Northwest AN OLD FIRM WITH A NEW BUILDI} wnjoyed the confidence of a Jarge clientele, many our many good friends. and we will strive to Detter servico than heretofore, organized and best supervised of any in this cit member of the District of Columbia Bar and formerly ass wi ance man. ploye and a dirt farmer, whose duty with the United Stats ernment was placing war veterans on farms. other real estate experience, qualifies him to intelligently handle farms. under the personal and direct supervision of MR. W. GILBERT DENT, President and sole owner of this firm, aj give us. a h GARDINER & DENT, Inc. HEROLD HAYNES Manager of Loans WM. J. MIDDLETON Manager of Insurance CHAS. H. GARDINER Manager of Farms Change in Basic Date Asked The structure will contain 144 | G, NEW EQUIPMENT, NEW IDEAS AND NEW PEP REAL ESTATE, P T —— | For Appraisal of Real Estate National Real Estate Boards Present Brief to House Ways and Means Committee Urging Move. | ! ing real estate values for taxation ;¢ Dpurposes is urged as the most fmpor-3 {tant change that can be effected in ithe administrative features of ; hicen revenue act, in a brief just presented prneiit L, P to the ways and means committee unanimously by of the House of Representatives by the National Assoclation of Real Es- tate Boards. Golng back eleven years to estah- (lish valuation, as s done in some | places, breeds uncertainty, dishonesty jund inequality and retards the fre trading in that builds cities, the association charges. | C. C. Hieatt of Loulsville, chairman {of the association’s committee on tax- ation, presented the bricf. The as- ,sociation asks that the date at which the air n ket value of property jowned for a considerable period {be fixed for tax purposes be c from March 1, 1913, to March 1, |or. proferably, that it ltime four years an i is a practic now at anythi ues as of the brief c nts indors Mellon plun he ation nin Augusta, » 17, 18 and 19 Status of Property. ther froning out of fmpracti- d vexatious kinks in the rev- the association asks 1t residential property he gis the same status o8 busin | or investment prog hoth in th | matter of exchanges and in reckoning {capital gains under the act Interpretation of the existing law by the Department denies to one cit lege to ex- which he at it gra espect the h he houses his busi- is out. The e : ownership votes t iy Ga | In furi i cable | enus building in w , the brief iscour: th 1t . {arriv in 5 the present ruling of the Department in order to get » of the provision éf the law ner who building umder condemnition must re in another office building. If < n apartment building ! the ne of our fro liquid sirable. nd orderly s and makin; ommodity ecifyi s of earncd uncertainty " be added t s and pro- Hax Prevented Sales. >y “Most men are afraid of uncertain- and the ur nty as to the tax he paid the present law < ented making many sales in The law ny ng t word . words re FORCE TAX REDUCTION. Ring fo extravaganc ated b tional Asso ty, Ind. Un- the' Mich - Board the city Q. thirty < on downtown property from fifty to ninety years, thu up property and preventin estate which our | watcehfulne demanded.” | in local ta < up the date 5o it would e | report reach to =6 buck only four vears ion from Micki would re It in in- the leadership -r than decreased reve- Real Fst ociation 1d. While s last n would yield less ta nts, fixin pased i e te four Massachusetts Park An exclusively residential section of detached homes Containing seven million feet of forest-covered land, with miles of improved streets. Includes what remains of The Trianglé of Increasing Values between Connecticut Ave., Massachusetts Ave. and Woodley 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 hories, with lots from 50 to 115 feet front—Park Office, 32d and Cathedral Ave. (Woodley Road). Middaugh & Shannon, Inc. Entablished 1599 Riggs-Semmes Bldg.—Dupont Circle—Potomac 2200 Member Washington Real Estate’ Board. Z, D007 77777 This firm was established ine$909. From that time on it has : of whom started ith us and are still with us 700, It is our earnest desire to continue to enjoy the confidence of give them even Look at.This We have on our For Sale fist— Over 6,000—Up-to-date listings 4,000—City Properties 1,000—Suburban Properties 1,000—Farms In installing rew system every listing was C.K."d up to date. Our Rental Department is second to mone. Tt is the best Our Loan Department is handled by an expert on loans, a ciated ith the loan department of a large life insurance company. NN Our Insurance Depaftment is in charge of a trained insur- 202 s Department is managed by a man who has had ss experiences, especially real estate. MY, Our Farm Department is handled by a former War Risk em- ov This, coupled with Each department and every detail of this large business is ‘We are fully qualified to take care of and respectfully solicit ny new business that our good friends may feel disposed to Thanking you for the generous past patronage, expressing dvance appreciation for future business and extending to you a earty welcome to visit us in our new home— 7277777707777, 727 % % 720 -Realtors DENT BUILDING—1409 L STREET N.W. Main 4884 i \ 2 N