Evening Star Newspaper, March 6, 1926, Page 24

o4 REAL ESTATE, SEEK T0 ELIMINATE New York Bill Would lelt Levy to Local Gov- ernments. A bill initiating a proposed :|mend-3 ment to the constitution of the State of New York which would eliminate the direct State tax on real estate has been int d in the New York As- sembly by the chairman of the § ciary committee. The present tax is by law deficiency measure. and is levied only when the estimated revenue for State purposes is lower than the amount necessary to cover the budget. Du the last 10 vears, however, the levy has aver zed more than $£20,000.000 annually. It the amendment is revenue from taxation of rea will be devoted wholly to the support | of municipalities and other local gov- | ernmental units, wh is. of course, | the chief and practically the entire source of revenue, r the present passed the 1 estate overlanping tax | New York. which | In that State represents only one-third | total property valuation. is now az 80 per cent of the annual tax | to become a law the pro x change must be | latures and then of the State at In order posed New York passed by two Leg approved by the peop a regular election. To afford relief from the present taxation inequality in the meantime a resolution has been | introduced into the Assembly provid that no tax shall be placed on e by the State this vear. clear-cut division between the gources of revenue of and its local clear-cut, division between the sources of reveffue of the individual Stat and the Federal Government, is central plank in the platform for systematic djustment urged by X sociation of Real F The proposed New York ongly supported by ssociation rds. ment is s York Real Estate B INSURANCE SAVINGS | PUT IN MORTGAGES TIncreasing Amount of Huge Fund Being Invested in Realty, Statements Indicate. | once a month or so. Of the great fund accum Individual savings now stored the form of life insuranc is being invested in ate mortgages, according o a ient in regard to life insurance made by the National | Life Insurance Pres state; investments Association of dents. The statement is based on an analy- sls of the record 2 lu!‘ {nsurance com cent of the funds of all legal reserve life insurance companies in the coun try. Results of the analysis were made | public in an address given by Robert | W. Huntington, president of the Con- | necticut General Life Insurance Com- pany, before the nineteenth annual meeting of the Association of Life In ) surance President The total funds of all leg lfe insurance companies ha wn | In the last 14 vears from $4,164 J’l 000 | to $11 500,000,000. There has \wrlv in the last vear alone an increase of | over a billion dollars, the reports show. Of this fund, according to the study. | 406 per cent was invested in real| estate mor - in the vear 1925. In| the vear 19 v 31.7 per cent was so0_invested. | Loans on city property as made by the life insurance companies more than doubled during the last five | vears. They jumped from Y 9 000 at the end of by October of 19: clude mortgages on homes, apa buildings, hotels, office \vmldn\ business properties Investment in farm the life insurance sented in the study re a total of §1,871.056.000 than double the mnt curiti held by them s | erve ment and | mortgages by | inies re ached in Th vear 1926 should w t of the pr The first half of tess good business a momentum cost of money pected. Trade entered the ably with purc {nventories low SEL | | | | of creating | that if they | count | man to call at u | =00d will of both institutions, | a size to be worth while | will be lar 'YOUNG MEN URGED TO OPEN BANK ACCOUNTS TO BUILD UP CREDIT STATE REAHY IAX Beger Baboon Nes Viss) Factors in Beasliiiog Thrift and Important Contacts—More Than One Bank Connection Held Desirable. BABSON. PARK, Fla.. March 6. To credit a man must begin early in life. The man who has not established a credit before he is 30 is greatly handicapped. Therefore as bank accounts are the best means such a credit, young men hould open accounts just as early in life as possible. To buy even a share BY BABSON ROGER W. establish a | of stock hefore having two bank a counts is a vital mistake. Nome think have property, they can veadily obtain a loan from a bank whether or not they have ever been a customer of a bank. This is a mis- taken idea. Advice to Young Men. When money is abnermatly ful. any man with property may doubt less he able to horrow on securi from some bank of which he is not regular depositor, but such is the ex ception. Moreover, at such man does not usu; need to horrow becanse when money cheap, either all customers are promptly paying their bills, or else business is so de. plent- | pressed that there is little object for man is when rates The aver: money one to borrow. most anxious for |are high and banks have little or none is then that the banks loans to customers, and, loan first to those who have been the longest and most linble customers. Therefore, ever vounz man should be urged to use his very first savings for the establish- ment of a savings account and to to lend. It limit their furthermore. | open a checking account before buy- other | ing a share of stock or any | property. riendliness Urged. means The de bank only Credlt to a large extent “favorable acquaintance.” positor who calls at the once a vear has not such good *‘credit™ a5 the one who calls each month. Bet- ter still, the voung man who is paid weekly should call once a week and deposit his rv in the checking ac- of a local bank. When depos- iting sald salary, he sould speak a pleasant word to the teller, and grad nally acquire the good will and friend- | and directors - once a quarter zoes on deposit in the savings bank—he should withdraw from his checking account (upon which he probably is not receiving in terest) such portion as he desires to deposit In his savings account in another bank. This enables a young the commercial bank and at the savings bank and thus grad cquaintance and which ship of the officers Once a month whenever intere: once a week acquire the means credit. The young man. however, be content with simply opening accounts as early as possible and sys tematically making deposits therein, but he must have these accounts of two depositor fails o realize that many accounts today show our banks a di tinet loss, and the only reason why a bank does not refuse them is because the officers hope that some day they ze enoughk to be profitable < are, however Many of the best ban 1 g ice charge of now establishi E $1 per month for unprofitable mnts and all small depositors should be zlad to pay this reasongble charge. Semi-Detached Tapestry Brick CONTAINING 6 Rooms and Bath $500 Cash Monthly Installment Covering All Payments $65.00 Best Section of Brookland Sample house now ready and open ior vour inspection Sun- a ek days until 9:00 AND JACKSON Waple & Lewey 1105 Vermont Ave. Main 10260 ECT ONE OF THESE HOMES TODAY 7 Built—3 Sold This Week‘ JUST COMPLETED Description = 20 ft. wide, big concrete front porch with brick columns, six exceptionally large rooms, Prices fixtures. Built. garage. reception hall, tile bath with built-in tub and Breakfast porch and sleeping porch. SAMPLE HOUSE 4816 5th (Betw One Bloc St. N.W. and_Emerson Sts.) h of Sherman C TO INSPECT—Drive out 16th St. or Georgia Ave. to De- catur St., and then east to 5th St., and Sample House. Shapiro-Katz Company —————=—Realtors—Builders . 1416 K St. NNW. Deal With a Realtor. Main 9111 must not | The average | THE EVENING | Although a bank will not refuse a | | small account. ve: a young man can- | not expect to acquire much of a | credit, upon which some day to bor- row, unless his account is profitable. Therefore, all depositors should be {urged to carry good accounts. Don't {be stingy with a bank. ‘Remember that some v it may be your best friend. If you wish to use the bank later, allow it to make money on vou | business now. Be broad-zauged and don’t sharpen the pencil too fine; but | remember the man who held the | penny so near his eve that he shut from view the entire world. Remem- | ber how the farmer must spend mon |on seed and dressing: how the ph sician must spend y on study and practice. Remember that credit, like everything else that is good; cannot be | obtained quickly or for nothing, but | | has its price. Good oaks take time to | grow o does good credit. Never | | blame a hanker for not loaning vou at | | the start | | Other Tmportant Reasons. But there are other reasons why younz men should open vank accounts. | | Tt i very advisable to pay bills by checks. This not only safeguards one | by having an automatic receipt, but | it makes a good impression on the | merchant to receive a check from young ‘man. It shows a merchant | | that his customer has a bank account, | and thus the young man indirectly | establishes credit with the merchant. Having bank accounts enables one to | quickly checks, remit money, | zive references, and serves a host of other purposes in additon to aiding in the stablishment of a credit | Bankers are very helpful in advising their customers concerning the pur- chasing of securities and the extension | of credits. You need not ask a bank whether such an investment is good or not: but you can ask it if the bank would be willing to buy it or loan upon it. If not, better let it alone. Banks know the standing of all local people and can easily get reports for customers on people out of town—I don’t know of any kind of a business concern which s s0 much free but valuable service as the modern bank Especially Desirable Today. A good hank account is sirable. but especially Now | when so many mbiing for | stocks, land and certain_commoditi | one can perform the grea % | by liquidating these possessions which | |are so popular and storing up c: instead. In addition to the drop in | speculative stocks, some dayv there is | certain to* be one in unfinished sub. ivisions, and some tnn\nlmHVIP\ uch | hose bank and lnl\mvu men who | lways de- | | accus |the b | zency | health, confidence is the gr STAR. accounts now can then step in and buy, when other people need the money, and, thereby, prevent what otherwise would be ‘a great panic. | Moreover. such foresighted men will Jater receive a very handsome reward | for so0 doing. 1In order, however, for | one to render this service when the chance comes, he must now’ prepare therefor by paying up his debts and ;g!k ing large cash balances in Of course it takes much self-control for a man to sell when people are bullish, and to build up big bank bal- ances when the banks can afford—as at present—to pay only a very small rate of interest. This Is still further complicated by the fact that banks are now very willing to lend, as money rates are low, and the temptation is not to pay up, but rather to bor more. Success in the finany . however, comes, as elsewhere, from doing the hard things. from refusing to follow the crowd. This means that we should have the courage to liqui- | date and build up bank accounts now while the public is bullish and money i« cheap—and then should have the ge to buy when the conditions are reversed. Use Several Banks. The man who is a heavy horrower owes it to his bank to give the bank which is loaninz him all his deposit If a bank is to be depended upon to take care of a customer in an emer it likes to know that the c tomer is not borrowing elsewhere is giving the bank his entire account Banks are justified in taking this posi tion. They then know just what busi ness the customer is doing and—if the customer a good business—a con fidence is soon established which ix very valuable. Next to character and atest asset New Southeast Home Ready to Move In 915-21-23 17th St. S.F. Between G and Potomac Ave. bath. front hot-water rooms and rear porches, electricity, hardwood built-in refrigerator, cellar: all modern. $500 Cash $76.50 and $65 Monthly Open Sunday From 2 te 5 Or on Request Lacy & Belt 493 G St. S.W. Phone Franklin 8068 Six and heat, floors, Wash. University Park | Just beyond Hyattsville on the and Balto. Boulevard Unusual A Select Feature No. 8 Neighborhood and Good Neighbors Park Homes discrimina Washingtc neighbors | . | Investigate | and Invest terms $3332328333283333833832 THREE SPLEND Ave. modern improvement, including hardwood floors and trim, built-i and built-in garage are among found in these beautiful home: double rear porches. Very reasonable terms. Minnesota Ave., Corner same as above. No. 2—Chevy 3615-3617 M stores. Detached, large rooms, bath, sun parlor, ished attic which can he converted into two hedrooms homes are offered at a sacrifice, Florida. Don't fail to inspect th price-splendid terms. These homes College Grounds and containin. and every modern convenience. and can be purchased with sma month, covering all payments. you. Drive out Florida Ave. t north two blocks. CUVIER A. Main 89 Sundays and Night S Tapestry brick homes of six rooms and tiled bath Corner home contains eight large rooms, inclosed porches and complete room in basement. Two blocks east of Connecticut modern in every open fireplace and large unfin- are beautifully The <alé of property in University hoth is_promoted with care and lots and completed tion—for nowhere around m is there such congenial condition that will be safeguarded. Lots for Sale—15¢ to 30c a foot Homes Ready—3$9,000 to $13,500 Modest cash payment; easy for the balance - University Park Co., Inc. Phone Hyattsville 582-W NEW HOMES ID LOCATIONS ALL OPEN FOR INSPECTION No. 1—2114-2130 Minnesota S.E. Every hot-water heat, clectric lights, n refrigerator, built-in bathtub the many conveniences to be s. Large concrete front and Don't fail to inspect today or Sunday. Drive out Pa. thence two blocks east to houses. Ave., across bridge to Home together with Otherwise Chase, D. C. cKinley St. Ave. detail, Near schools and and containing six These since ‘the builder is going to Reduced em today or Sunday. No. 3—1315-1329 West Virginia " Ave. NE. —$7,950 situated, facing Galfaudet g six large rooms, tiled bath They are ginanced splendidly, 1l cash payment and $65.00 per An inspection will convince o West Virginia Ave., thence METZLER Dependable Service ' 1106 Vermont Avenue ervice. Adams 620 WASHINGTON, 1 are wise enough to build up big bank | This is not from fear that any bank | | nounced, { money rates are low. D. €, SATURDAY. MARCH 6, 1926. 0LD NEWSPAPER SOLD. ST. JOSEPH, Mo., March § (®).— The St. Joseph Gazette today was S(‘ld[ for $125,000 to Max M. Levand, former | general manager of the Kansas City| a man can have. It is even better than money because the man who has the confidence of his bankers can con- trol not only his own money, but the money of others. The man who does not borrow ex- cept, occasionally, on good collateral— and uses bank accounts only as a form of investment, may do well to have his funds in more than one bank if : he is now building up Ia reserv oming. & up Jurge reserven. |7 S0 Souant tne puber frous wea-| r Ford, president of the First Trus | Co., who had bid it in two weeks ago at (rustee's sale. Levand will continue | the publication as an independent new: paper, he said. The Gazette, a morning daily, is one | of the oldest newspapers in the .\ns-“ souri River Valley i | will fail, because depositors v sel- | dom lose anything under our present splendid banking system Really 1 believe bank accounts are the very safest forms of investment procurable Yet the value of a bank account co sists, as explained above, not merei in the taking care of one’s mone but in forming connections and points of contac Hence, a man who has the confidence and friendship of two banks should be hetter off than he | who has all his eggs in one basket. Money Rates and Bankers. When the Babsonchart stands high above normal, as at present, 12 per cent. it is usually a sizn that money | rates will strengthen. Even though | the upward movement may not he pro. it will help the banks which time have been suffering from low money rates. The average business man thinks that a has an easy time, but s i case. Not only must he continually be on the watch to avoid losses: but when deposits are la he can only | with difficulty loan them, and call INSPECT THIS Exceptional Corner Property 800 Emerson St. N.W. Overlooking Tllinois Avenue. Center hall plan. containing six large. bright rooms, TILED bath with built-in tub, ra shower and lavatory ning mas- ter bhedroom, room and hot- - heat, electricity, stor- t sereened and ipped huilt-in se: paved street, heuuti shrubbery. Open Sunday for inspection | Floyd E. Davis Company 733 Twelfth St. N.W. Main 352—353 for some adj every spacious, On the other hand, in demand and rates ar not get deposits. Y preachers and doctors, are the most useful men in our com munities. Let that they are appreciated. (Copyr fsaatazzt ns are us see at, 19260 (WOODLEY PARK Absalutely the lowest priced home in this heautiful section. brick. with _concrete siv rooms, tiled bath, ches, making two extr: closets. hot-wates NORTHEAST CORNER New hrick home—S300 ments. Con- ! stores. corner 2831 . electr) ete inlieated Eurage: $1.000 cash. 2771 Woodley Pl heater an Nee this home fo- 333! and a b i Price $12.750. eurage. N.w. BLOOMINGDALE A heautitul home, ey exeellent et ront i dini ellar with Id h xpace for garage: tio < room. lare s ele, Baek s 919 15th St. N.W. ~ RIALTOR, o] Franklin BUILDERS ANNOUNCING The Appointment of Mr. G. Edw. LeCompte As Sales Manager For DOUGLASS REALTORS REALTORS PHlLLIPS INE. 1516 K St. N.W. L3832 I33TT8888eeLTITIIL! g %‘ # Franklin 5678 Do You Realize That You Can Own An All-Brick Semi-Detached Lifetime Quality Home For 12,500 Containing six large, light and airy rooms; tile bath and shower; hot-water heat; instantaneous heater; oak floors throughout; built-in garage; built- in ice box; double back porches; covered concrete front porch, and many other modern conveniences. —IN— ChevyChase,D.C. Hence Make it Your Business to Inspect These Homes of Quality Inspection Will Convince You—OQur Terms Will Suit You—Then a Home of Quality Will Be Yours Sample House 5317 42nd St. Chevy Chase, :D. C. Open and heated. Representatives on premises daily and Sunday, 10 AM. to 6 P.M. Drive out Conn. Ave. to Military Road, then left on Military Road to 42nd St. Hall-Johnson Construction Co. Main 392 226 Investment Bld PEEYY BRAKE INSPECTOR HURT | W. J. Hayre Believed Injured by’ Falling Car Lever. | William J. Post and later owner of the Casper|gag Herald and the Salt Creek Journal in [inoitn Terminal, | gency airbrake inspec Hospital vesterday fr: THOMAS A. JAMESON Main 5526 CHEVY CHAS REAL ES’I‘AT'P‘ |! is believed. by the falling of a brake |lever while about his inspection duties. Hayre was inspecting coaches on track 20 of the Washington Termi nal yards at the time of the accident. An ambulance was summoned and | he was rushed to Emergency Hospital in a ous condition. Physicians, after examination. stated Hayre's condition was better his nces for recovery were Hayre, 210 I street north- r at the Wash. was taken to Eme: suffering | and ire of the skul ed, | good BEST VALUE IN WASHINGTON 'fi JAMESON-BUILT HOMES Price, $6,950 up Inspect at Once 626 to 636 Central Ave. N.E. SEMI-DETACHED “} 2801 to 2829 5th St. N.E. Sample Home— 630 Central Ave. N.E. Very Easy Terms 6 large rooms. bath, h.w.h., elec lig built-in fee box, double rear porches. wide front porch, deep lots to wida lley. and a wide side lot with ch house “Ask the Man W ho Owns One™ To Reach H, 0 out_Rhode Tsland Ave. N Fourth St. and %0 north o ta Central Ave.. and t T aqiares to property Built, Owned and for Sale by OWNER AND BUILDER 906 New York Ave. N.W. A Used House That Is Worth Your Attention 31 W Street N. W. Six rooms and ¢ newly finished. Improved street and alley. Our will price and terms be made to suit vou. Realtor You’ll Love Them Always—As a Home THESE ARTISTIC NEW HOUSES AT R R AR R CREST, D. C. TEREEE B 3R Skeiched at Chery OMES that will thrill you through and through while inspecting. An exclu- sive group; neath the friendly protection of generous shade trees and located on Chevy Chase’s highest point. By 4ll means see them today or tomorrow. Some have six, some seven and others eight sunny rooms, two tiled baths in color, built-in tub, hot-water heat, hardwood floors throughout, artistic lighting fixtures, break- fast alcove with fixtures, one-piece sink, kitchen cabinet (white), fully enameled gas ranges, completely screened, garages, auto- matic water heaters. o R R # To Inspect:—Drive out Connecticut Ave- nue to Chevy Chase Circle, east on Ritten- house Street to Broad Branch Road to Western Avenue; turn east one quarter block to Stuyvesant Street and property. Terrell and Little, Inc 1206 18th St. Main 3285 Jvening Phones Adams 2503-]J—Adams 3215-W DEAL WITH A l\l.‘\l'lflr"s' 3]