Evening Star Newspaper, May 3, 1924, Page 13

R \ il REA BABSON PREDICTS COMING DECREASE IN LOAN RATES Holds Blmks Must Drop Prices as Busin)e‘s‘s.: Be- { - comes Quieter and They Find Difficulty . In Putting Out Holdmg‘s_'.‘ f ¥ BY HOGEN'W. BABSON. BABSON PARK,:Mass, May 23— Borrowers should mot be frightened By the ‘stiffening .’ in money rates Which took place recently. Even the ncrease in note: cireulation or the @ecrease in gold reserves should have Bo permanent effect on money rates. As business quiets down, money rates @lways decline and reserves increase, Henee . the present conservative atti- tude ‘of 'business men and their tem- porary unwillingness to go into new ventures must cause a decline in motey rates and a corresponding in- ©reaso in the selling price of good bands. Every cloud “has a silver lin- Ing” and a quiet business year is no eXception to this rule. Seared By Fallures. Possibly banks are a little fright- ened just now by the heavy failure figures. The last report completed the first quarter of 1924, hich showed 5,655 defaults having liabili- ties of $184,865,000, compared with 5 316 defaults having llabilities of $138 231,000 for the first quarter; of This increase f#n: failures affects Sectipns excepting the south 'Atlantic states and Paclfic coast states: agricultural ceptral west has been especially hard hit. \ On the other hand. it should mot be forgotten that must _loan money in order 6 m monex, A bank which hoards its funds- would soon go into bankrup A_bank must loan its deposit &0 broke Hence, all that bank < rs can do is to chpose which are the best loans or from whom they can get the best rate commensurate with safety When business is active and the demand’ for money exceeds the sup- ply, banks are independent and their customers very hum When, how- ever, business is q nd thé sup- ply ‘of mon: x s the demand from _good borrowers, then these same bamks themselves become hum- ble. Copsidering the vast amount of of the country,” money now irculation, when the tide finally does turn in favor of the borrower, it will be a flood, Loans to Europe. The only thing which can pessibly make high money rates for the next twelve months is a willingnees by Europe to pay very high rates and a willingness by our banks to be tampt- ed by these high rates. This means they would be loaning our money to Europe-instead of to our own people. L-ESTATE. a general quietness. in business as evidenced by the Babsonchart’stand- ing at § per cent below normal. To tempt people to borfow under such conditions rates must decline, These declining rates, however, Riwayaiee- sult in new developments and make for permanent growth @nd. increased prosperity. SRR BUILDING ACTIVITIES DECREASE FORSEEN President of 8. W. Straus & Co. De- clares That Cheaper Rents May Not Result. A slowing up of building activities throughout the nation in the near future is not unlikely, according to investigations now being made by §. W, Straus, president of S. W. Strauk & Co., and made public today. Even such 'a slowing up in . construction operations, however. would not nec- esstrily mean permanently lower bullding costs and cheaper rents, the financer declareds “The shortage which has existed in housing copditions for the last five vears is being made up in many towns nd citles,” Mr. Straus declared. “In | these places it 1s to be expected that from now on building operations will continue ‘along normal lines. In some cities the shortage in certain types of construction has been over- come, and building activities thus will be now diverted from these types to the ones in which deficits stili re- main “Throughout the nation, as a whole, |1arge shortages still remain, arid if good judgment is exercised and @ note of proper conservatism is allowed to { prevail, bullding activities will still | continue in large volume as a sustain- | ing element to the general prosperity ] — e | PUBLISH BOOK ON HOMES. Better Homes Officials Offer Study on Furnishing. For the double purpose of aiding the individual owners or prospectlve owners of small homes and to provide Just a “Wee Bit-of a Sma’ Hoose” with the Charm of-Pleasant Possibilities For seaside home or mountain cot- tage, summer lelsuro or all-the-year living, the little house plan offered this week has many pleasant possi- bilities. -The cottage i3 shown as made of stucco but shingles or clap- bogrds could be substituted if de- sired. A cdmbination living and dining room is always good in a small house. One quite large room in a small house tends-to make tHe whole interior seem larger. Besides this good point, the furniture can be arranged to better advantag The large room here shown is generously supplied with wirklows and a big fireplace gives the room a bright cosy look n the winter time. The sun porch, just off this room, could be Inclosed for a winter sunroom if desired. If for reasons of economy it were BALTIMOREANS ON MOVE. 50,000 Families Expected to Seek New Homes This Year. Special Dispatch to The Star. % BALTIMORE, May 3.— Despite the fact that this city ranks second in the number of home owners per pop- ulation, it is ‘estimated that nearly 50,000 familles will move this year thought best to omit one cl from the plan, two alternatives are possible; either the living room fire- lace can be placed on the inner wall o open into the same chimney as the kitchen range, or, if the house- awite feels that she can dispense with the coal range and uss a gas one only, the kitchen chimney can be omitted. A good many housewives nowadays do feel that a coal badlyswith a truly simple life since it always needs coal put in taken out or blacking put « So many houses, elaborate ones are being buil later vears with only gas ranges in the kitchens. is most frequently put in the base ment In modern houses since its pres- ence in kitchen Placed most. in the furnace, it may be heated in winter by that useful agent and in summe: either by gas or a tiny coal heater | oy that uses about one shovelful of coal | S a day, yet keeps the tank piping hot by day and night. The kitchen is conveniently placed imney range interfers or ashes even some large and t these And the water bolle summer makes the uncomfortably hot. basement beside the home. One must have a lawn and flow- ers before it really can be called a |and self-addressed 'envelope to the Therefore we should choose a design which fits our lot If we already have 'ope, and If not, we would buy 1and ‘to make the design we have chosen as charming as possible. People’are loving color more than they did a few years ago and are daring to use it more. decided ‘vogue for the cheerful tones in homes as well 4s In'costumes, and this little' house lends itself well,to the free use of color. it has a'pletupesque oatline that gould stand vivid. eolor without seeming t0¢ éxtreme, Bright color would: also .be effective in the garden, for a neutral. tinted stucco house—say, of gray or tan—makes the - finest 'kind of background for flower ‘brilliancy. ‘When we combing comfort, conveni- ence and beauty in any design it would seem well done, indeed, and in this design we believe that the three are so suocessfully merged that this house must give great pléasure to its owner. . Since .the prices of materials:and labor vary considerably fn different localities, we do not attempt to give a definite estimato as to the cost of building according to this plan, but suggest that you suit your pocket- book as to the kind of materiais to be used, and then consult a local builder for detailed information as to_building costs. For further Information as to pro- curing the building plans of this LIVING= DININGTM The interesting outline of this liveable litle cottage lends itself to the free use of color, which is so popular now. house design No. 52, send a stamped Real Estate Editor of The Star. (Copyright, George Matthew Adams.) There 18 a| REAL ESTATE. |BUILDING PROJECTS TO COST $667,200 'Permits Issued During Past Week Cover Many Proposed Homes. Building permits aggregating in the estimated cost of the congtruction $667,200 were issued by the District during the week for the following work: o M. J. Simmons, to biild, 805-Rock Creek Church road; $7,000. L E. Breuninger, to build, 4500 16th’ street; $40,000. J. D. Gorman, to build, 3047-3049 Channing street northeast; $5,000. G. W. Barkman, to build, 4939 47th street; 4900 46th street, 'and 4710 Davenport street; $5,000. J. S. Edwards, to repair 1308 F street; $5,000. E. Stevens, to build, 2471 Sherman avenue; $5,000. G. W. Talbert, to build, 3010 Earle street northeast; $1,200. Liberty Laundry Company, to build, rear 429-433 New York avenue; $27,500. 3 R. B. Murphy, to build, 3883 Lega- tion street; $6,000. " E. R. ‘Palmer, to build,' 111" Van Buren street northwest; $4,000. Federal Realty and Improvement Company, to build, 5121-23 and 5212- 14 Lee street. northeast, and 5122 Sherift road northeast: $12,500. Elizabeth Phillips, to repair 1600 21st street; $10.000. E. R. Lohr, to build, 3606 Brothers place southeast; $5.500. and carefully lald out. A woman's comfort and health were {n mind when the architect planned this room in which the homemaker must spend 80 many hours of each day. Larger windows give full light for the work and a wonderful view of the garden. The two bedrooms are in a section by themselves, well away from the |“Chinch Bug Cholera,” One of Diseases | Most Beneficial to Man, Kills Pests J. D. Gorman, 'to build, 3041-3043 Channing street northeast: J. A Myrphy, to build, 75 Observa- tory cirele; $18,000. H. A Kite, to build apartment, 54 M strect; 360,000, . C."and AN, Miller, to build, u?}s-gnfimweu sireats 'x';n,oao. . Etchison, to build office building, 1733 De Sales street; $300,000. nHgie, G. W. Babcock, to bufld, 314-318 T street: $12,000. B. F. Hill, to bulld, 1709 28th street southeast; $6.000. Mrs. J. R, Williams, to build apart- ment, 1900 Q street: $85,000. J. E. Martin, to build, 723 Croissant plage northeast; $6,000. F. P. Sheehy, to repair, 3263-3265 Prospect street: $2,000 M. Arville and Willlam D. Brown, to build, 5847 31st street; §7,500. W. R. Marshall, to repair, 929 New York avenue; $3,000. “CURB” REAL ESTATE DEALERS HIT IN BILL Baltimore City; Council May Li- ~_oense Homeless Type of Broker and Salesman. Spécial Dismdtch to The Star.. BALTJMORE, ‘May. 3.—War on curb real estate brokers is declared in Bill now pending in the city council, spopsared by the Real Estate Board The Bill provides for an unpaid com- missfon of three that would regulate and licénse realty brokers and sales- men.. = It is intended to solve a problem the police have tried in. vain to cope with for several vears, realtors suy Scores of complaints have been re ceived of the curb dealers’ activities. Last year they held meetings on the corners of “real estate row” and the .| Zathering blocked traffic and inter- fered with business hou Few of the brokers had offices o capital with which to conduct legitt mate businesa Options were ob- tained on properties and frequently changed hands a dozen times in half an_hour. Dispersed by the police, they gath ered /in the corridors of nearby buildings to be routed again at com- plaint of the management. The_present ordinance would at- tack the turb broker directly through the commigsion, vested with power to reveke and-deny licenses. The an- nugl fee for a broker is 325 at pres ent, but.a license fee of $5 also would b Tequired of salesmen. HOME SALES REPORTED. The office of D. J. Dunigan report the following sales of new Dunigan- built homes in Fourteenth Stree Eighlands, Columbia Park and Pet- worth during the past week: The home at 5408 13th street north west was sold to Harry W. Mace. This house has seven rooms. In Columbia Park, one of the co- lonial brick houses,’ 5310 Tth street northwest, was sold to John .J ¥Fahey, and one of the English houses, 5321 7th street, was sold to Clarence I Poore. In Petworth, 208 Webster street was transferred to William G. Nottingham and 321 Webster street to Ernest Koenig. COMPLETING TE]i‘ EUSES. Ten residences of the semi-detached type are just being completed by William S. . Phillips - at Fessenden street and_Connecticut avenue, Massachusetts Park to these fungus attacks, but it ap- pears to follow that they thrive well il phasfani | The Triangle of Increasing Values h:gl l}:.mg:: is prob‘:bly the only one ; —between Connecticut Aye., Massachusetts Ave. and Woodley that has been seriotisly experimented 5 2. 2 i f i ved ! ¥ s save on cost of con- |that 1jurious te 3 ut there is no’ doubt at all that 3 ned . or’ restricte i s. e urnishings which wiil | “'c “PHi{[ "Pitt, “secretary ot the |from one of the bedrooms up to the |gus, known ecientifcally as Sporo- | trol, and eventually become of enor- mmunity houses. Over omes from $15,000 to $200, T T e o v 4| roal estate board, sald -there are|attic ‘which is valuable as an alr|trichum elobuliferum, and its host 18 | mous benefit to the human race. buik and under-construction. Actual improvements and home : o, three, the five and | T8, “2i8es T Fent than i any | $paco to Keep the rooms below cool |the dreaded destrover of corn and | ™Our Common housefies are subject 2 s S Hupt s fibe seven room house. The booklel| ,ilious year. Baltimoreans buy in- | In summer, as well as for storage |wheat, the chinch-bug. to @ fungus cholera due to the attack || Values exceed $7,000,000. Wooded villa sites, lots, central and was .prepa or Better Homes In |t/ q” e tonting, he added. No houses | room. It is of great interest and' Impor- |of the species Empusa muscae, which || side hall homes, with lots from 50 to 115 feet front. Park Office, 32d and Cathedral Ave. (Woodley Road). Inquiries in person, telephone or letter receive intelligent answer without annoyance. No engagements made for Sunday America by Mrs, Charles 'Bradley |, o ‘paen built in_several years| The cellar in such a _house as this |tance that this fungus may be culti- |slays them in large numbers in the Sanders, a specialist on household | (3" oni3l purposes, Mr. Pitt added. | may be made a veritable storeroom, |vated artificiaily in the laboratory. |late summer. Swollen flies are often Since 1899—No Place Like Home; No Home Like Ours. furnishing and decoration. Only” the few hous for the modern cellar is di d warm | It thrives on culture media of differ- | seen at this time of the year cling- -— tors have been unable d in many houses of today both the | ent kinds, and may be sent out to|ing to the walls of kitchens or other Riggs-Semmes Bldg., Dupont Circle, Potomac 2200 Member Washington Real Estate Board. In the Mississippi valley there is a known as “chinch-bug chol- It is known in other parts of the country also, but perhaps not so well as there, says Nature Magazine. This is one of the diseases that bene- a handbook for furnishing and dec- | if the pace 5o far set is kept up. Ac- orating demonstration houses dyring | cording to one of the leading moving “Better Homes week,” May 11 to 18, |van companies, the majority of those ASSRENT PheRduREirs ¢ of EBAtHer | moving this year are people who have omes in America has just publis PR oone an authoritative booklet on “How to | 504 old properties and have pur Furnish the Small Home." aser 0 e Gi8 a : Thon there are tamiiies who move to other part of the house, being sepa- rated by the stairs, hall and bath. They are both easily accessible to the bath, and the lmen closet from | which bed linen is supplied, is be- tween the two. The bath is near the kitchen s0 as to centralize the plumb- |fits man, for it attacks only insects Personally 1 doubt if the ba do’ thig .to any extent, The bankers of the United States ara a fair minded group of men, intensely interested in building up the communities in which ' they live. They loan money e only when they cannot safely loan it at home. Moreover, we should not expec y bank to loan money when th not_safely loan it. because the money really ‘s not their money, but rather the money of the peopté of the com- munity; I am basing my forecast of Jower ‘money ratés on these four things: 1. Eanks will loan money in order to exist. 2. Banks W they can get t in_their opinion. is 3. Banks will qu of most forelgn loan: in Europe became ¢ Hence, they will lcan their funds at been rented hing and ironing is done in the | farmers in badly infected areas. The | greatly frequented places. About the BALTIMORE BUILDING ACTIVE | "0, "5t agents reported an ex- | basement. | method followed is to distribute the [ dead or dving Insects will be seen a BALTIMORE. May 3.—Plans for | odus from converted apartments. | Fifty-five feet would need to be the | bodies of infected insects in the flelds, | ring of white mold, due to the new construction —costing approxi- | Construction of- modern apartments | width of the lot upon which this|either dead or alive. The disease |spores of the plant which have been Mately 2,500,000 were reported this|leasable at the same price as charged | house could be built with not a foot |is then contracted by the healthy | efected at maturity. One fly catches week by local architects and builders. |in converted apartments is respons- | to spare. The house is thirty feet|bug soon spreads over the in- | it from another, or from free spores This list of building activity includes |ible for the new condition, it was | deep. However. we trust that no one |fected lity, helping to extermi-|in the air, and the disease is really home. 2 lodge building, alterations to the |said. This ultimately will lead to a | would try to build so lovely a little | nate pest, if not eliminating it | very beneficial as far as man is con- " In the meantime the demand for | Maryland penitentiary, four schools,[cut in rentals in converted apart- | deslgn as this could be made, without | altogether. gerned, in reducing the number of | bt o home v department store and 4 theater. ments, agents predicted. having at least a seventy-five-foot | Many kinds of insects are subject | flies. FEATAE A T i [T [T T 'FIRST OFFERING of these beautifully designed, carefully constructed and luxuriously equipped Chevy Chase Homes located almost on CONNECTICUT AVENUE and the Chevy Chase car line IN selecting a permanent Home, prime considerations are: 1. The Hoise Itself 2. The Location 3. The Initial Price 4. The Maintenance Cost From the detailed description at the right, it will be readily seen that these 5 Homes satisfactorily meet all tests of design and completeness that can be applied to them. In location the Houses have many distinct advantages. Situated on the City edge of fashionable Chevy Chase and practically right on Connecticut Avenue itself, the route by either motor or electric car is both direct and at- tractive. Judicious purchase of the land and economical handling of construction costs have enabled us to fix a price on these Homes far below their real worth. Not only is the property a good invest- ment from the standpoint of its present value, but it is bound to appreciate rapidly in the very near future. And the extreme care maintained in the selection of material; i g he 10 erials and SR L T rigid supervision of construc- tion work assures you a EXHIBIT HOUSE—3417 Fessenden Street Home that will last in- tact for several life- Ta?e Chevy Chase car to Fessenden Street—or i Drive out Connecticut Avenue over the “Million Dollar Bridge."” WM. S. PHILLIPS needed. REALTOR—BUILDER , Phone—Main 4600 (I HE Homes themselves are distinct- ive in appearance and pleasing in the wealth of comforts and conveniences they present. Among other points of merit are— Center hall entrance, with attractive stair- case. Large [living room, opening through double French doors to English front porch. Cheery raised brick fireplace. Bright dining room, with roomy breakfast sun parlor reached through double French doors. Completely equipped kitchen, Detroit Jewel range, built-in ironing board and cabinet. Large outside pantry, built-in refrigerator. Separate rear porch. Pleasant master bedchamber and two other sleeping rooms, large windows. Inclosed and heated sleeping porch, full width of house. Two baths, tiled, built-in fixtures, shower. Linen closet in hall, onc or more closets in every room. High ceilinged, floored attic. Dry, roomy basement, Pittsburgh in- stantaneous water heater, stationary wash tubs, hot and cold water mixing % Ideal heating plant, hot-wat eating ot-water. Large lot, 125 ft. x 33 ft. Paved alley, cement sidewalks, wide street. TN O (I (T AT * The Terms Can Be Arranged The Value Is Astounding AR 15th and K Streets Phillips. Building (T ' | — A