Evening Star Newspaper, January 15, 1927, Page 19

REAL ESTATE. THE EVENING STAR. WASHINGTON, G SATURDAY, JANUARY 15, 1927. REAL ESTATE. 19 BOWIE DISCUSSES | DEEDS OF TRUST Modern Systems Eliminate Many Hardships, Students of Real Estate Told. The trust n » during the days of its history was an absolute convey i 1o the party lending s Lorrower m mself the right tc to the property upon srformanc his part of the co act, With repayment of the amount | rrowed lted i mor how much more con nient and satisfactory forms, any instances « nges having fluenced and required by the enact ent of laws in the various States escribing what form they should | Protect the Borrower. Laws in very decided t tion of the ms of the e st have ent of 1 ny reasc courts now have the toward protec 1 in some se seems they al- with the enact protecting them beyond necessity. Such at- | mpts a n, however, usually | react to the detriment of the bos because the more conditio estrictions that are imposed, oweér people are willing to lend wney. We are not incumbered in | : t with any offensive mort ation, the very simple deed being the n which : ate, which vance of the legal erty to trustees to - remain vested in them in ssage’ way until some defaulé o Then they have summar: of sale after public adver » the newspapers, period of & quite definitely e too far the to the pro fixed ht possibly have to do with k 1 supply of money here for investment in real estate loans, all of which can be well understood when it is remembered that in some of the States the holder of the debt which is n default must go into court and serve all of the parties in interest, get them before the court. In many case defaulting borrower can, by ta advantage of all of the law’s de- on of the property one year, and in ge loans cerned, the chief sources open ers in this District are about follows, the volume handled by eich indicated by the order in which they are named: Mortgage banker: Now Ready for Inspection 913 to 937 Quincy St. N.W. 1th Street Ten-story office structure at Verniont avenue at L street, which has been purchased sideration is understood to ha James E. Glass of Atlantic City from local investors. The con- ve been approximately $1,200,000. . The transaction was made through the Boaze Realty Co., and is believed to be the largest sale of the new year here. The building, erected t years ago, has a frontage of 130 feet on Vermont avenue and 66 feet on L street. life insurance companies, trust com- panies, building associations, savings banks and national banks ortgage bankers or brokers re- ceive most of the applications due to the position they occupy, with refer- ence to both the borrower and the lenders. They are the type of middle. men that bring the ‘producer’ and ultimate ‘consumer’ more directly to- gether. Loans so arranged are usu- ally in this District made for a term of thyee years, and on new properties, uming that there have been no radical changes in valuations or finan- 1 conditions, usually renewed for one, sometimes two additional terms of three years each. about by the World War these large sources of supply devoted their spe- clal attention tosproviding funds to alleviate this condition, and one very large compan th almost a billlon dollars of admitted assets, employed in mortgage loans practices its slogan of spreading funds among the people. This naturally means lending to the individual owner, occupant and pur- chaser of his home. “A large supply of funds is sought from trust companies. They in turn are desirous of employing their funds for investment in this fund, and also the funds belonging to.various estates and trusts committed to their care did not call a single mortgage loan. and supervision. “Building assoclations are co-oper ative institutions, receiving regular savings of its members and paying them higher than savings bank inter- est on them, and in turn lending the funds to owners desirous of borrow. in, To those desiring to liquidate Used for Larger Loans. “Life insurance companies’ funds are used to take care of the larger loans and generally are placed on the more preferred type of risks. They are usually for a longer period, carry ing annual amortization or paymen frequently waived until after the ex- piration of the third year. The secu- rity and manner of payment by the borrower being satisfactory, it is an almost unheard of thing for them to requjre payment of principal. Even during a catastrophe, such as the in- fluenza epidemic, when death claims gregating many millions had to be paid by them, I know of several com- anies who boast of the fact that they “During the house chortage brought Selling Fast Inspect at Once large rooms, tiled bath, h.-w.h,, electric lights, hard- wood floors and trim, one- piece sink, built-in ice box, instantanc, water heater and other ex Double rear porches, cement front porch. With or without built-in gdrage “Ask the man who owns one” | DR. BESANT PRESENTS HINDU AS DIVINE Spirit of Christ Has Descended in’ Krishnamurti, Theosophist Leader Declares. By, the Assoclated Press. OJAIL, Calif, January 15.~Dr. Annie Besant, president of the Theo sophical Society, from her dquar- | ters here has presented her Hindu protege, Krishnamurti, as the earthly vehicle on which the spirit of Christ had descended. She described Krish namurti as “The New World Teacher.” he divine spirit has descended once more on a man, one who in his life is literally perfect, as those who know him closely can testify—Krish namurti,” said Dr. Besant. “During the last ye: ince December 18, 1925, when the Christ spoke through him to some 7,000 people in India, he has been undergoing swift changes which their indebtedness monthly, and to whom privilege of making voluntary payments is attractive, this source malk trong appeal. The growth of these institutior this com munity has been rapid. “Savings banks are not so generally used in this community for the bor in rowing of money or mortgage loans as in other sections of the country Modern in every respect. of this home. 734 15th St. N.W. N.W. Corner Conn. Ave. New Substantially Built Home have made a man of power, dignity, of authority, out of the boyish youth he was, “On December 18 last, at a small meeting again, the Lord spoke through him. And on January 11, at a gathering of members of the Order of the Star of the East of some 200 persons, throughout his speech we heard the vofce. “In him the manhood has been taken up into divinity, and we beheld his glory, full of grace and truth. The spirit has descended and abides him. The world teacher is here. BATTLE OVER SEATS. Wife’s Divorce Plea Dropped After Opera Row. CHICAGO, January 15 (#).—A new sion for divorce was found yester day when Mrs. Adrya Locke Langley filed divorce proceedings against her husband, a broker, charging cruelty, following an argument over the se tion of box seats at the opera on New Year eve. The suit was dismissed and a recon ciliation effected. Firs; Year Most Diflicult. BLOOMSBURG, Pa., January 15 (P)—It s the first and not the mystic seventh year that is apparently the hardest for wedded folk in Columbia Count amination of 23 suits filed in 1926 show seven represented cou- ples parted during the first 12 months of matrimony. & Leland St. 6 bedrooms, 3 baths, unusually large living room, open fireplace, large corner lot, 2-car garage. Your careful inspection will convince you of the excellent value Ellerson & Wemple Main 603 For Sale by Thomas A. Jameson Co. Owners and Builders 906 N. Y. Ave. NW. Phone Main 5526 promise yourself some more desirable than you had. before. Always in Your Favor When you go out to look at a house, you always improvement—something Perhaps you bought a home expecting to live in it the rest of your da worry instead of contentment. . and undesirable neighbors or buildings gave you In the new homes just built on 28th Street in Woodley Park you have not only the careful restrictions that have long safe- guarded value s in this prominent communit you have also a wide choice of the best built and most comfortable homes that exist in Washington today at $16,000 to $18,000. There are six rooms, two baths, both with showers (and another shower and lavatory near the maid’s room in the base- ment). arid walls. Al sub-floor with Closets are ALL ( 1 other flooring i special floor felting between. JAR, flooring as well as shelves 7 in. clear white oak laid over From the smallest detail of construction to the well ar- ranged basement space, with laundry, drying room and built-in garage—the house has been planned for the comfort and serenity of the owner and his family. A kitchen to delight any woman, large and bright, with deep shelving, built-in refrigerator (iced from outside). Built-in ironing board and other conveniences have been installed as well. Woodley Park has always been the Capital's finest residential community; these new homes sn no wise detract from its beauty. Prices, $16,000 to $18,000 Terms: $2,500 Cash—$125 Monthly Exhibit Home, 2911 28 (T mercantile building; 25x90, with large } hts w Gove nt Buil vhich has just been w streets. Offered on a long lease, 14th & K iened, and 1 as a whole separat pt nt ally hi to upper floors. ceiling and other in line with the : gors from E Street, approachable through 4 two-way nce h few or in part, at reasonable rental. Main 3830 urn off Con icut Ave. at Street N.W.' ‘athedral Ave.) Open Daily and Sunday Until 9 P.M. X ARDMMAN 1430 K Street N.W. { near Clevedon. in the Bristol channel. | scramble ashore exhausted. Raymond Trounch of Johannesburg, South Af- rica, dled of exposure. The Novadoe is owned by the Pat. terson steamship line, Fort Willlam, Ontario. HOUSE SALESMEN Old established Real Estate Firm with extensive “UP-TO-THE-MIN 2" listings of best properties, de sires services of three EARNEST MEN, with or without previous ex petience. We will train you and give full co-operation and assistance for your best efforts. Address Box 256-A, Star Office EXPOSURE KILLS SAILOR SWEPT UP ON ROCKS Four Others Live Through Terrible Adventure When Wrecked by Gale. | By the Associated Press. | LONDON, January 15.—A member | of the crew of the Canadian steamer | J Novadoc died of exposure on the roc and four other sallors of had a terrifying adventure storm which raged in the last night, the vessel during a channel. The Novadoc was bound from Mon treal to Sharpness and was anchored in Walton Bay, not far from Clevedon The five members of her crew were returning to the ship, after getting provisions on shore, whem the storm broke. Their oars were swept away and they drifted for hours. Finally huge ves swept the boat on the rocks don. The men managed to Unnouncing the Opening of the TNost Beautiful Semi-Detached Homes 1n or near Washington $9750 to S10500 Reasonable Jerms Your inspection invited Exhibit fome 6006 -4th St. Open daily and Sunday. TJo Inspect - Take 14th St.carmarked. “Takoma Park’get off at, Peabody St. and walk one square west, or drive out Georgia Ave. to Rittenhouse St.,East to 4th S¢t. and South to Peabcdy. Preston &. Wire Co. Investment Bldg. Main 2002 1712 R STREET N.W. (One-half Square From New Hampshire Avenue) Paved entrance hall Living rooms raised above entrance- hall level French and mirror- ed doors Paneled and painted walls Marble mantels (3 open fires) Artistic fixtures Interior and Decorations Architects . master bedrooms, 2 baths, shower servants’ bed- rooms, 2 baths, sitting room No-Kol heat Two - car built - in garage Large kitchen, pan- tries and closets An Unusually Good Value at $25,000 WAGGAMAN & BRAWNER, Inc. 1700 Eye Street N.W.