Evening Star Newspaper, February 7, 1925, Page 19

-REAT ESTATE.' BULING A LOA CROLPSEXPAN Membership Grows From 1912 Total of 2,500,000 to 7,200,000 in 1923. “The building and loan association movement in ¢his country has expanded greatly during the past decade. It is A striking fact that this growth has taken place during years when an un- usual housing situation has existed. In 1912 there were roughly 6,300 associa- tions in the United States, 1924 this number had increased to nearly 11,000. Membership in associa- tions during this time inc 2,500,000 to more than 7. Assets of associations from $1,100.000,000 o $3,900,000,00 ays’ the National Bapk of Commerce of New York, in a recent report In discussing these institutions, the bank says, “the largest part of this in- crease in assets has occurred in the past five years or since the war. Dur- Ing these yvears the. scarcity of living quarters and exorbitant rents have in- fluenced an unusual number of persons to look around for some agency that woufd be of assistance to them in the matwr of getting better and cheaper homes. A large portion of the build- ing activity of the past two or three vears has been of dwelligg houses, and the increased assets of tfe building and loan associations have of course largely #one into building loans. On the other side of the matter is the relatively higher level of purchasing power of wages among certain groups of tiie community. ciations are attractive chiefly to those who save on a small scale from peri- odic wages. Result of Education. “While it may be interesting to cast | about for immediate reasons for the | recent growth, more remotely the ex- pansion is probably but a mature flowering of a long development, and is consonant with the satisfactory dis- charge of an economic function and a long process of education. “The growth in number and assets| of building and loan associations has accompanied a broadening in their| methods and fields of operation. Along| with greater scope in tenure and| method of share other | departures from the original type. | The fixed dues system may not | be adhered to. As the resources of a| member fluctuate he may change the| size of his payments without special | arrangement. The method of dispos- | issue have while by | Building and loan asso- | new type of assoclation, for -delinquency in paying dues are no longer as popular as they some- times were. ) “It was long the practice of many persons te join and become stock- holders of building and loan assocla- tlons who had no idea of borrowing to obtain a home. They were inter- ested in the savings end and the good return their money yielded when in- vested in building and loan stock. But more than this, some building and loan associations today will loan to non-members, or, at least, will loan to a person If he owns but a nominal amount of stock. It is not necessary to be able to pledge a num- ber of shares of the assoclation, the par value of which equals the amount of funds borrowed, in order to secure a loan. The loan contracts are more elastic than in other days. Instead of following out a program of pay- ments éstablished in the beginning, the borrower may increase hls pay- ments and retire his loan earlier than contemplated. The present organiza- | tions believe they have laid in their and fines | record a safe foundation upon which to build. In a recent issue of the American Building Association News a statement was made that in the fiscal year ending in 1923 the failed assoclations of that year lost only $260,000. This was but a very small fraction of the $3,300,000,000 of the assets controlled by building and loan associations as a whole. “It is reasonable to believe that the movement is still expanding. The most recent figures for contracts let indicate that residential building Is still going on apace. At the same time the earnings of the wage earner continue at a high level relatively. As associations get most of their loanable funds from the small saver and they loan mostly on residential projects, the present position should ast be favorable A NEW REALTY IN BALTIMORE $2,051,634,400 Spent PLANS APARTMENTS SHOWS DULL SEASON| I, Building Homes | AT MODERATE RENTAL Survey by Association Displays No Shortage of Buildings, Rather Overbuilt. BALTIMORE, January 31.—The real estate market in Baltimore in the Fall of 1924 was dull, according to a survey recently completed by the local real estate board for the Na- tional Association of Real Estate Boards. This city, according to the report, has no dwelling, apartment house or business bullding shortage. If anything, Baltimore is overbullt, it is asserted. Dwelling rents are stable, but are on the upward climb where business structures are concerned. The type of property most in demand by Balti- moreans at present is individual dwellings. For the first nine months of 1924 19,237 permits for dwellings were is- sued, as compared with 15,474 for the like period of 1923. The labor supply, the report concludes, is sufficient, and wages the same as the correspond- ing period a year ago. There is plenty of money for first and second mortgages in Baltimore. WOMAN CLAIMS RECORD. LONDON. February 7.—A woman physician, Dr. Ann Gillett, claims to hold the record in England as an anesthetist. Testifying at an inquest she said that during 15 years of serv- ice at the Royal Free Hospital she had administered anesthetics in from 000 to 30,000 ca HOUSE In U. 8. Last Year More money was spent in the construction of new homes during 1924 than in any other class of construction. Of the grand total of more than $5,000,000,000 which was spent in the United States in the erection of new bulldings 46 per cent went for residential bulldings —small houses, apart- ment houses and hotels. The exact total of expenditures for homes in 36 States, which constitutes 871; per cent of the total construction volume of the Natfon, was $2,051,634,400. The outlook is that 1925 also will be a big year for home construction, particularly in small houses of moderate prices. - . Gen. Dorey Goes to Manila. Brig.” Gen. Halstead Dorey, com- manding the 14th Infantry Brigade at Fort Omaha, Nebr., has been ordered to Manila for duty with troops in the Philippines. Harry Wardman, Local Builder, to Construct Housing Units for People of Limited Means. Expressing his intention to build as many apartments as possible to take care of those who can only afford to pay a moderate rent, Harry |= Wardman, prominent local builder, announced today that he will begin right away the construction of five apartment houses at the intersection of First and M streets and New York avenue. The plot of ground contains 47,101 square feet. Each apartment will be four stories high, and the entire project will provide 200 housing units. The entire construction will cost in the neighborhood of about $800,000. The design will be of English and Tudor style, and the structure will be composed of Indiana limestone. Mr. Wardman states that as far as building is possible with present A “Shade? Better You sove the middleman’s profit when you have us make your WINDOW SHADES 40 measure. here on the premises, and every shade bears our guarantee for quality and workmanship. Let us estimate. Every shade is made ing of funds to the highest bidder is passing, there is an established in- | terest rate on real estate loans, and the auction and premium method is| not used. Membership or initiation fees are not an essential part of the WARD-BUILT HOMES Exceptil ' Terms Main 89 | | | | | | g ONLY, 85,350 Terms, $500 Cash—$50 Month Nos. 1425, 1435 IVES PLACE S.E. (One-Half Square Below Penna. Ave. A modern two-story Colonial type at 15th St) house; elec- tric lights: tile bath; laundry tubs; large closets; gas water heater; modern peating plan to wide alley, porches, ete. t; deep yard Inspect Sunday After 11 A.M. BOSS & PHELPS The Home of Homes 1417 K St. N.W. Main 9300 Members of Washington Real Estate Board HAVE you ever stopped to think that ncarly every lot in SAUL’S ADDITION is built on, and that means the ONLY place left to buy a new detached home in this locality of high standard, is in QUR DEVELOPMENT of Takoma Park? THE EVENING STAR, WASHINGTON, D. C, SATURDAY, FEBRUARY 7, 1925. prices and other present-day costs he will endeavor to erect a number of apartments to rent at moderate prices, —_— SHOOTS NURSE AND SELF. TRAIL, British Columbla, February 7—Miss Mildred Nellson, 25, nurse, of Vancouver, was shot and killed in the sitting room of the Aldridge House, & nurses’ home here, yesterday by Patrick Hanley, an insurance man. He then turned the gun on himself, inflicting a wound thought not to be fatal. | Harvard St. N.W. | Near 16th St, a very | delightful medium sized home, consisting of 7 rooms and modern bath; electricity, hot-water heat; [f lot 22x90; one-car garage. [ $14,000 Thomas J. Fisher & Co. 738 15th St. N.W. Main 6830 | 2 PRI $8,35 To Inspect Take 14th St. ear marked Takoma Park to 7th St. N.W., walk South one block to houses: or take Ga. Ave. car to Jeflerson St., walk East to 7th St. N.W. CUVIER A. METZLER Dependable Service :—EEEEEEEEEEE:—E 0.00 Sample House, 627 Jefferson St. N.W. Open for inspection daily until 9 P.M. Six rooms, tiled bath, hot-water ‘heat, electric lights, hw. F., built-in refrigerator, concrete front porch, large breakfast and sleeping porches. Lot 142 feet deep to 15-ft. alley. I ll.l ole——|ole——de——|d|——a[——— [ c—— [u]c————}, ¥ 1343 H St. N.W. Make Your Home Modern in Every ay You are entitled to all the conveniences of a modern home; if you haven’t got them, then let me come to your assistance I HAVE PLENTY OF MONEY to lend for renovation of houses. | will install hot- water heating systems, electric lights, paint and paper your home on a very small monthly payment- plan Don’t Delay, see me at once and find out how easy it is to have A Modern Home 740 Butternut St. Northwest - 6 rooms, A.M.I. Oak Floors Open Fireplace Cedar Closets, Automatic Lights, Built-in Refrigerator in pantry $11,750 $2,000 Cash Payment 313 Channing St. Northeast A fine detached cottage, of six rooms and large attic. Modern bath, furnace heat, ‘electric lights. Front and back porches. Large lot, with . room for garden; fruit trees and grape arbor now on it. Newly painted and redeco- rated throughout. Price $7,500 Payment ‘Owner offers for sale modern home on Georgetown Heights. Six rooms and tiled bath; large bright cellar. House oc- cupied by owner since com- pletion. ~Convenient to car line, schools and pfaygrounds. Hot-water heat, electricity. Garage. $7,000 Easy Terms M. M. HARRIS 613 F Street N.W. Franklin 7485 Two Homes Recently Finished 6704 4th St. N.W. Lot 50x160 with a side drive. Wonderful shade trees. Full size attic. Concrete basement with laundry tubs and serv- ants’ toilet. The appoint- ments of this 6-room home has to be seen to .be ap- preciated. $11,250 These Homes are heated and lighted On Easy Terms New Homes 1410 H St. N.W. Main 1023 ATTRACTIVE HOMES FOR SMALL FAMILIES Open for Inspection—Daily and Sunday 308 Channing St. Northeast Only one remaining unsold of eight recently completed houses. Well-built home of tapestry brick, large living room opening into dining room, fully equipped kitchen, three porches, two large bed- rooms and tiled bath. Hard- wood_floors, hot-water heat, electricity. Laundry tubs. Every feature necessary for home comfort. Price $6,950 Cash, 3750' 365 Entire Monthly | Cash, s75° ssn E.‘:::'::::Ny Unusual Values in Almost New Homes Inspection by Appointment Fine Investment Well-Rented House - Brick house, thoroughly modern, built about -three years ago. Five rooms, hot- water heat, electricity. In ex- cellent northeast neighbor- hood, very convenient tao cars. Rented at $57.50 per month to good tenant. $6,000 Easy Terms WAGGAMANl u& BRAWNER C. ; 732 17th Street N.W. EEE—DEEEEEEEE—EE D. FOREW ORD--- The question has a six-room and floors, one-piece 1319 New York Ave. REAT ESTATE. $500 c. Monthly Payment Less Than Rent 10 Sold Last Week See These Remarkable Houses Today Description — 6 rooms, hot-water heat, elec- tricity, French doors, spacious porches, built-in heated garage and many unusual features. To Inspect—North from 3d and Rhode Island Ave. N.E. to Cromwell Terrace — then west to No. 228, . ZJ/IPU SHADIRO CO 10 jolc——lolc——Jo|———|ajlaj———|s|lc———|al]c———|af We Have It Ready $8,650 A Large Six-Room Home With a Lot of New Features 509 to 529 Ingraham St. N.W. Convenient to 2 Leading Car Lines pen and Lighted Until 9 P.M. Don’t Delay—Come Out at Once Take 14th St. Car marked Takoma, get off at 7th St. and walk South to houses; or 9th St. Car to Ingraham St., walk East 2 blocks. J. DUNIGAN, Inec. Phone Main 1267 been frequently asked— “How can tile bath house, with hardwood porcelain sink, front and double rear porches, large closets, clectricity, gas, large, airy and dry cellar and hot water heat, be sold on most convenient terms for ’6,950 ““Small Does It’’--- Come Out and Inspect or Call Office for Transportation 1109 Owens Place N. E. Open Daily for Inspection IMPORTANT! There are only avaslable. Over HOW TO REACH “GALLAUDET PARK"— Take Capital Traction Com- pany car to Sth and Florida ave. N.E. Walk one block east to West Virginia ave., and then north on West Virginia ave., to property.Or ‘motor over same route, twelve of these new brick houses one hundred are to be built in— ‘““Gallaudet Park’’ “A New Sub-Division of Beautiful Homes” C. H. SMALL & Co. “Fine Homes a Specialty” Main 6861 925 15th St. N. W.. tersbierrsens esesesesine b essiersbe o S Rk A Sk B g