Evening Star Newspaper, June 12, 1926, Page 13

REAL ESTATE e WASHINGTON, BUILDING ACTIVITIES SHOW INCREASES OVER MAY, 1925 Dodge Survey Indicates Drop of 4 Per Cent From April, However—Texas Shows Big Advance. The volume of construction con- tracts declined again in May, accord- ing to F. W. Dodge Corporation. Building and engineering projects con- tracted for during the month in the 37 States east of the Rocky Mountains, which include about 91 per cent of the total construction volume of the coun- try, amounted to $549,814,80 crease from April was nearly cent, but there was an increase of 8 per cent over May, 1925. A moderate decrease from April In May is the normal seasonal trend in building contracts. Included in last month's record were: $244,587,500. or 44 per cent of all construction, for residential build- ings; $100,961,200, or 18 per cent, for public works and utilities; $70,891,600. or 13 per cent, for commercial build- ings; $45,977.100, or 8 per cent for in- dustrial buildings; and $39,709,700, or 7 per cent, for educational buildins: Total building and engineering con- tracts awarded during the first five months of this vear have amounted to $2,565.366,100, this belng an increase of 17 per cent over the corresponding period of last vear. At the end of April this vear’s construction volume was 20 per cent ahead of last vear's; at the end of March, it was 30 per cent ahead. The spread over last year’s volume is gradually decreasing. Contemplated new work reported for the 37 Eastern States last month amounted to $792,769,000, which wa a decrease of 13 per cent from the amount reported in April and an in- crease of 9 per cent over the amount reported in May of last year. New York Decreases. The total volume of construction contracts let in New York State and northern New Jersey during May amounted to $139,864.600. This figure showed a decrease of 18 per cent from April, 1 However, there increase of 24 per cent over 1925. The more impc the May record were: § 63 per cent of all con: residential buildings; 13 per cent, for_commer tional buildings; cent, for public wi $6,988,000, or 5 per buildings; and $3,486,500, or 2 per cent, for religious and memorial building The first five months’ construction total for New York State and north- ern New Jersey was $768,830.000, be ing an increase of 53 per cent o the corresponding five months of la vear. Contemplated construction projeci were reported for the district in M to the amount of $201,512,700, which was a Gocrease of 14 per cent from the amount reported in April, 1926, but was an increase of 14 per cent over the amount reported in May of last year. Gain in Construction New England. arted last month in New England reached a total of $4 301,100. There were increases of 7 per cent over April, 1926, and 2 per cent over May of I Included in the M or 42 per cent of all con on, for residential buildings; $8, 00, or 17 per cent, for public works and utilities; $5.632,000, or 12 per cent, for educa- tional buildi - 12 per for $2,- 00, or 6 per cent, for Socia eational buildings: and $2 Construction started in New land during the past five months has totaled $171.420,000, being an increase of 1 per cent over the figure for the corresponding period of 1525. Contemplated new work reported trict last month amounted 8 00, being a decrease of 25 per cent from the amount reported in April, 1926, as well as a decrease of 4 per cent from the amount reported in May of last year. Slight Change Noted. Building and engineering contracts awarded in the Middle Atlantic States stern Pennsylvania. southern New Jersey, Maryland, Delaware, Distric of Columbia and Virginia) during Ma) amounted to $58.007,500. This w 2 per cent increase over April of this year and an 11 per cent increase over May of last vear. of Ma; construction record showed the follow- ing items of note: $27,296,900, or 47 per cent of all construction, for resi- dential buildings; 2,200, or 13 per cent, for public works and utilities; $7,078,500, or 12 per cent, for indus- trial buildings; $4,314,300, or 7 per cent, for commercial buildings; $3,- 166,900, or 5 per cent, for religious and memorial buildings; $2,875,800, or 5 _per cent, for public buildings: #nd $2,311,200, or 4 per cent, for educa- tional buildings. New construction started in the Middle Atlantic States during the first five months of this vear reached a total of $245,362,700, as compared with $231,994,700, for the first five months of 1925, being an increase of 6 per cent. Contemplated construction planned for this district, as reported in May, amounted to $99,745,100, which was 9 per cent more than the amount re- ported in April, 1926, but 13 per cent less than the amount reported in May of last year. Pittsburgh Is Active. May construction in the Pittsburgh district (western Pennsylvania, West Virginia, Ohio and Kentucky) amount- ed to $64,015,400. There were In- creases of 4 per cent over April, 1926, and of 5 per cent over May, 1925. I cluded in last month's record wer 7,900, or 35 per cent of all con- struction, for public works and utili- ties; $20,641,800, or 32 per cent, for residential buildings; $6,863,000, or 11 per cent, for commercial buildings; $4,185,500, or 7 per cent, for industrial buildings; $3,532,100, or 6 per cent, for educational bulldings; and $2,547,000, or 4 per cent, for social and recrea- tional projects. Building _and _engineering work started in the district during the first five months of 1926 amounted to $297.- 833,700, being a loss of 156 per cent from the figure for the corresponding period of last year. Contemplated new work reported in May amounted to $71,203,400, which was 16 per cent less than the amount reported in April of this year, but 1 per cent more than the amount reported in May, 1925. Central West Strong. Building and engineering contracts were awarded last month to the amount of $141,617,100 in the Central ‘West (Illinois, Indiana, Iowa, Wiscon- sin, Michigan, Missouri, Kansas, Okla- homa and Nebraska).” The above figure exceeded April, 1926 by 12 per cent, any May, 1925, by 1 per cent. The more important items in last month’s record were: $53,720,600, or 88 per cent of all construction, for residential buildings; $29,637,400, 21 per cent, for public works and utllities; $20,229,700, or 14 per cent, for commercial buildings; $16,634,300, or 12 per cent, for industrial buildings; $9,526,700, or 7 per cent, for educa- tional buildings: and $3,992,500, or 3 per cent, for hospitals and institutions. New eonstruction started in the dis- or the corresponding five months of 1925, the decrease being less than 1 per cent. Contemplated new work reported for the Central West in May amounted to $20 00, being a 23 per cent de- crease from the amount reported in April, 1926, but an increase of 30 per cent over the amount reported in May of last year. Decline in South. The total volume of construction contracts let in the Southeastern States (the Carolinas, Georgla, Florida, Tennessee, Alabama, Mississippi, Ar- kansas and Louisianz) during May amounted to $5§,941.800. There were decreases of 27 per cent from April and 18 per cent from May of last year. s of the building record for May showed the following items of note: $22,279,400, or 38 per cent of all construction, for residential buildings: $12,826,400, or 22 per cent, for public works and utilities; $7,061,900, or 12 cent, for commercial buildings; $6.- 921,200, or_12 per cent, for Industrial butidings; $5,106.000, or' 9 per cent, for educational buildings; and §1,874,400, or 3 per cent, for religious and me- morial buildings Construction started in the district during the past five months, amount- ing to $377,091,900, has increased 45 per cent over the corresponding period of 1925. Contemplated new work reported for the Southeastern States in May amounted to §11 100, being a de- crease of 9 per cent from the amount reported in April, , as well as a decrease of 13 per cent from amount reported in May of last year. Northwest Shows. Drop. The Northwest (Minnesota, the Da- kotas and northern Michigan) had $10,959,100 in contracts for new build- ing and engineering work last month. Decreases of 4 per cent from April, 1926, and 13 per cent from May of st year occurred. Included in the building record for May were the fol- lowing {mportant items: $4,432,400, or 40 per cent of al struction, for residential buildin, 908,500, or 27 per cent, for public works and util- ities; $1,115,800, or 10 per cent, for commercial buildings; $727,800, or 7 per cent, for educational buildings; £661,100, or 6 per cent, for industrial buildings; and $446,000, or 4 per cent, for_social and recreational bufldings. Construction started in the North- west during the first five months of 1926 reached a total of $43,731,200, which exceeded the figure for the cor- responding period of last year by 13 per cent. Cbntemplated construction projects dere reported for the district in May to the amount of $12,230,500, being a 32 per cent decrease from the amount reported last month, but an 11 per cent increase over the amount re- ported in May, 1923. Big Gain in Texas. Building and engineering contracts were awardéd during May to the amount of $29,108,200 in Texas. The above figure showed a 59 per cent record were: $20,092,900, | 8aip over April of this year, as well as a 129 per cent gain over May, 1925. Included in the May construction record were: $8,625,800, or 30 per cent of all constructién, for public works and utilities; $7,947,400, or 27 per cent, for residential buildings; $7,885,700, or 27 per cent, for commercial buildings $2,521,700, or 9 per cent, for educs ‘ional buildings: $1,417.400, or 5 per cent, for industrial buildingg— The first five months’ construction total for Texas was $98,510,300, as compared with $65,078,900 in the cor- responding five months of last year, the increase being 45 per cent. Contemplated new work reported for Texas in May, 1926, amounted to $39,156,300. This was an increase of 38 per cent above April of this year, as well as 122 per cent above May, T Convenience With Wiring. There are many things which pro- vide for convenience in wiring, and al- though they may be small in them- selves, in the aggregate they make the difference between passable wiring and wiring that gives a maximum of service. . = The tendencies toward reaction in business have become more clear. Commodity prices are around the low for the year, the decline reflecting the close competition with which industry is contending. Until indications com- mence to become clearer that the busi- ness decline is well along toward the end with improvement in sight, the best time to buy stocks for the long pull has not arrived—American Se- curities Service. Map of BUS LINES OPERATING OUT OF WASHINGTON Prepared by e =% Upperi\le Middleburg@ w NS N\ T w SUGARLOAF w1 - Tysons g Aldie Oakton ¢f " G . k. /in, o e e w72 Winchester; Hagerstomn, Comberiand 4 Geflysburg Gonnects with bus 7o Ellicat.Cil Olney & Four Corners E Silver Spr. Langley Mclean 0 = FAIRFA RRENTON @ ‘/ LEGEND Parallel lines show number of bus lines operating. Six lines to Bladensburg Md Five lines fo Laurel Md. Four lines fo Baltimore Md. Three lines to_Philadelphia. Five lines to Fairfax Va. Two lines to Warrenton Ya. Two lines to Annapolis Md. Two lines to-Alexandria Va. Two lines fo frederick Md. One line to other points as indicated. INSURANCE FIRMS INVESTING IN REALTY MORTGAGE LOANS The place held by life insurance organizations as economic factors in the development of the Nation was the subject of an address made before the National Association of Real Kistate Boards, in annual convention this week at Tulsa, Okla., by Lester 1. Wurfel, assistant secretary of the Prudential Insurance Co. of America, and one of the supervising officers of that company’s real estate mortgage loan department. After calling the attention of the delegates to the fact that legal re- serve life insurance companies now have in force policies involving a total coverage of $71,178,190,000 and ad- mitted assets at the end of the year 1925 of $11,485,407,000, the insurance authority disclosed the fact that in the investment of these funds under- writing organizations are turning more and more to the real estate mortgage loan as a sound security for profitable and wise distribution. “In 1919,” he sald, “the legal re- serve companies had assets of $8,790,- 82,415, of which 30.8 per cent was invested in real estate mortgage loans. With more than $11,000,000,000 of assets at the end of 1925, the invest. ment in mortgage loans was $4,823,- 871,000, or 42 per cent of the total. This growth of more than 11 per cent in such investments has been a healthy one. regard this great increase in the amount of insurance in force as an evidence of the moral progress of our people. It shows that we are responding in increasing measure to those ethical duties which are the very bedrock of an advanced civiliza- tion. Woodla.nd' Drive Sites m Massachusetts Park —are becoming steadily more limited. Washinftonians of long standing are continually amazed at the splendi growth in this fine residential community, which includes all that remains of The Triangle of Increasing Values —between Connecticut, Massachusetts and Cathedral avenues. Wooded and rolling sites for individually designed homes are now available. As the firm under whose management this restricted area has been successfully developed into one of the city’s fine sections, we are singu- larly prepared to furnish accurate information. Park Office: 32d street and Cathedral avenue. Middaugh & Shannon, Inc. ESTABLISHED 1899 Riggs-Semmes Bldg., Dupont Circle, Potomac 2200 There’s Always Safety Under a Rose Roof 'OU can feel perfectly secure so far as the roof is con- Ycerned if we have had a hand in fixing it. When we finish it'll be able to withstand exposure—and you can be sure any deteriorating elements have been remedied. Roofing with us is an exact science. We know our job through and through. There are thousands of roofs here testifying to Rose skill. The always moderate cost cam be budgeted for comvemience in payment. Rose Br Comeany “Much has been said in recent years about our people becoming careless of honor, virtue, duty and their oblig: tions to each other and to socfet. this because of a longing for ease and material gain. The statistics of life Insurance, however, do not sustain the indictment. If the fact that $71,178,- 190,000 of insurance is in fqrce may be used as a barometer of social con- ditions, then it must be regarded as conclusive evidence that our people are rapidly acquiring that virtue upon which the stability of society must rest—the sense of obligation to de- pendent A prediction that the assets of life insurance companies would continue to grow was made by the speaker, who said: “The per capita insurance in force upon the lives of those gainfully em- ployed is for an amount equal to only about 60 per cent of the average in- come for one year. Thus it will be seen that not only is a vast number of our population uninsured, but a gredt Ballston O~ Hyec 4ATA¥4 EArlington}))/ Camp Humphries 9] COPYRIGHT 1926 BY (rhe .. She Zoening FHP covmne o - shfon y 4 " Marlboro B. O Brandywine EVENING STAR NEWSPAPER Co, A TRANSPORTATION HUB ‘Washington is the hub from which 19 different bus lines extend to various points lying outside the District of Columbia. Among the larger centers linked with the National Capital by motor coach are New York, Philadelphia, Baltimore, Hagerstown, Fred- erick and Alexandria. Numerous smaller points now are within a short and easy ride of Capitol Hill via bus transportation. ‘The_longest direct run from Washington by way of motor coach is New York City—11 hours. Alaska avenues to East Silver Spring, Md.—5 minutes. The Alexandria, Va., stretch is accomplished bus makes one trip a day. 116 times. The shortest trip is from Georgia and The New York ‘The busses running over routes out of Washington are, in the main, of the most modern types—long, low-hung, lithe, powerful, com- fortable and speedy vehicles in which the safety factor has been de- veloped to the highest point known to 1926 automotive engineering. The Star's detailed survey of the Washington bus situation, just completed, reveals the ever-growing popularity of the motor coach as a means of transportation over fairly long as well as shorter distances and indicates that the trend will continue firmly in this direction during the years immediately ahead. majority of those carrying insurance are underinsured. “The very nature of the business of life insurance conceives the con- stantly increasing accumulation of vast sums of money. The present growth attests the fact that already L = 4 = 2 rm— the income 1s a veritable Niagara flow- ing to these insurance companies which, as an_economic powerhouse transforms the income into.a current, which, when redistributed, is felt throughout all civilization. ““Through the redistribtuion of such ! l L There are homes that are more expen- sive; there are locations that are higher priced; but there are no homes in Wash- ington that offer so much value for your dollar—that can provide more desirable neighbors or insure so much happiness and contentment as can these new six-room modernly equipped homes at ; $9.100 Terms That Conform to Your Pocketbook Take a Burleith Bus Today Why Put It Off? Come OQut and Inspect Our Sample Home a t 3802 T Street N.W. Always Open for Your Inspection ese i Kd. o Potomac 718 LUCHY| Members of The Operative Builders Assn. of the D. C. HOME & GARDEN 1926. 7Wo bus lines 70 Philadelphia w < [y e~ ) Y > > < 0 New York Cy. N One bus /ine BUS LINES RADIATE TOVARIOUS POINTS 19 Fast, Safe and Easy-rid- ing Fleets Make Daily Trips From City. BY WILLIAM ULLMAN. Automobile Editor. The Star. Motor bus transportation, viewed only a few short years ago as a noisy experiment having few propo- nents, apparently today has found it- self a_ secure position in the life of the Nation, with a daily patronage that is growing amazingly and with a list of routes and a sched- ule of trips that make it a formidable rival of the older established electric rwhere throughout the land to- day, from the populous centers of the East to the lonlier plains and moun- tains of the West. motor husses may be seen gliding swiftly over the roads from point to point on their itiner- aries, and just as they have bounded into popularity elsewhere as comfort- able and remar! Wiy convent ums of transportation they won a_dominant place tional Capital and the continguous territory. According to a detailed survey just completed by The Star, there are at present 19 different lines of these high- way leviathans operating out of the Distriet, their various destinations dotting the surrounding country in every direction. with one line main- taining a dailv schedule between Washington and New York Cit Interurban t bus is a ysored into the twentieth v system that the people, grown accustomed to marvelously sudden changes in the line of progress, have overlooked the spreading dominion of the bus and havi to its fuller s Standing on Pennsylvania avenue tehing these huge motor ve- < they come and go. one sees 2 astonishing proces- sion. Of varying sizes and design, and with wide curtained windows, broad, i hioned wheels, they prompt one to pause and ponder. They flash by—even on city streets—well laden with travelers bound for near or dls- tant points who travel with ease of refree as in a Pullman, hedules will be kept, routes followed precisely and safety upheld as a paramount, obligation. Helping Many Places. accumulated capital much credit should be given to life insurance for a service rendered in the expansion and development of the resour the country. “The fact that life insurance con panies have seen fit to increase th form of investment during the past six ¥ cent of admitted assets bears unmis- takable evidence of their faith. “On March 31 of this year the Prudential had on its books mortzage loan investments totaling $652,093 533.82, which represents 97,26 loan: Of these 62,901 were on city real estate and_of number 30 were on erties for an amount ¢ commodating 96,32 1 Mr. Wurfel also discussed the fu- ture of mortgage loans and real es- tate development with much opti- This “Log from 30.8 per cent to 42 per | which radiate from he District of | tion, and these motored e | progress are bringing still further ma- 1 well being to the regions throush which they Bus lines, with ‘Washington hub, spread out tenuou 3 | Northwest, of | x | perous cities and thriving ssroads villages and |ing _industrial manifold manifestations of a complex iton are within an easy day's ia the luxurious { civili |run of Washington | motor coach of today: and exhilarating The traveler can b equipped with monst nd in the late \»'(vrk cool, pe He can obtain passage upon another perfectly appointed vehicle plying be- tween Washington and Hagerstown. nth_P: wrecked to permit the building of my up-to-date Bunga- lows and Two-story Houses. ONE OF THE NEW Now Ready for Your Inspection 4 DIFFERENT PLANS All bungalows have large rooms—sleeping porches— open fireplaces and brick mant els and large lots. DESCRIPTION If you can appreciate an artistic home well designed, with first- class materials and fixtures throughout, do not fail to see these houses at once. Have five and seven large rooms (2. 3 and 4 bedrooms), tile bath with built-in tub, open fireplace, a large sleeping porch, front porch, attic and large cellar. heat. Large, well-graded lots. Every convenience, including hot-water Shade trees. schools, library and stores and west of railroad. Located near District Prices are right. Easy terms. No less than 50 feet wide by 148 deep to alley. Location—5th and Whittier Sts., west of railroad Near Takoma’s New 5-Acre Park Only two blocks south of Fifth and Street and Fourteenth near Ninth Butternut. Streets, Street car lines. H. L. THORNTON, Realtor Ouwner Office, 6904 4th St. and Builder Takoma Park, D. C. OPPOSITE TAKOMA THEATER Office Phone, Adams 5251 Home Phone, Col. 4957 WEEK DAYS PHONE FOR AUTO Deal With a Realtor trict during the first five months of this year reached a total of $562,686,- 360, as compared with $565,214,000 for : North 847848 2120-22 Georgia Ave.