Evening Star Newspaper, January 21, 1928, Page 17

READ PROPERTY VALUES NEAR SOUND BASIS Realty Expert Holds 19285 Will Bring More Stabilized | Figures Locally. [ | | | Values of property in the District of | Columbia during 1928 will be on a more sound-and-sure basis than during the Past two or three years, because of the fact that much of the unsound specu- lation has been stopped, R. L. Me- | Keever, president of the firm of Mc- Keever & Goss, declared today in a View of 1927 operations. While new building projects declined about 40 per cent from the total for | 1926. he said, the total amount of sales | of real estate weore about the same as during the preceding year. Stabilization Cited. “That Washington real estate is be- ing nstionally recognized as a stable & good future is indi- | cated by the loaning of many millions on real estate security by the large in- surance companies,” he said. “During the past year about 22 per cent of the money loaned on first mortgages here | Yas secured from insurance companies. | “This has had a tremendous effect, first, in reducing interest rate. and, second. in releasing much local money for | other investments. ESTATE.? THE EVENING STAR, WASITINGTON, JANUARY 21, 1928. D. T. SATURDAY, APARTMENT BUILL “Money is plentiful now and financing | | on real estate can be done for long periods and on favorable terms. How- | ever. during the past year there was evidenced some tightening up by bankers, especiaily on real estate loans | for speculative purposes. “This has had a good effect on the market. as it has slowed up specula- | tive building. so that danger of over- | tructure, designed by Pennsylvania avenue on the site of the mated at $1,000,000 and a value of $1, Harvey Warwick, to be erecte old Penn Gardens, by the Cafritz Construction Co. ,000 has been placed on the project. LUMBER OUTPUT GAINS. | gains over the previous week factory gains over the 1927 figures. As compared with the normal produc- tion of 221,641,165, the actual softwood B g e e | Increase of 40 Per Cent Over Pre- vious Week Is Reported. g very carefully loaned. and this care- | fulness is the best guarantee that we | production was 210,515,091 The hardwood group showed some have that no overbuilding will be done. | 1928 Outlook Optimistic. “The general outlook for 1928 is | thoroughly optimistic and there is in | Pprospect now a tremendous amount of | Government work, together with a large amount of semi-public work by institutions, churches, schools, lodges | and national organizations. Although private buildings for speculative pur- | Reports received today by the Na- tional Lumber Manufacturers' Associa- tion from 457 of the larger lumber mills of the country indicate that produc- tion for the week ended January 14 was about 40 per cent larger than for the week before and appreciably larger than for the same period of 1927. The total reported production was 27.742,000 feet, as compared with the normal for the week of 242,858,165. will probably not exceed that increase in production and shipments and a heavy apparent increase in new business, but with 116 mills reporting as against 106 for the week before Actual production for the week was 17.2; Dgfl feet, as against a normal of 0. 21 Minor Sues !o} $50.600. Nora Francis Dickerson. a minor, 1618 H street. yesterday sued Mrs. D. C. DING PLANNED BY CAFRITZ CO. | | = SAYS INVESTMENTS Secretary Schick Declares Outsiders Give Evidence of Faith in District. ] | . The value of investing in Washing- | ton real estate is attested by the vol- | ume of outside capital which flows Into this city for realty investments, James P. Schick, executive secretary of the | Washington Real Estate Board, declared | this week in addressing the Y. M. C. A. | class in real estate on “Washington as a Real Estate Market." As an indication of the confidence | which prevails in real estate in Wash- !ington, Mr. Schick said that a total of | $16.000,000 had been loaned by life in- surance companies on property here during the past six months. During this period also, he pointed out, a total | of $68,000.000 had been placed in first trusts and $19,000,000 in second trusts ! on local property. Speaking of the present market ac- tivity, Mr. Schick stated that an aver- of 50 sfers of property titles e being rocorded here daily. He said that 200 houses were being sold | per_month. Calling attention to the fact that only about 30 per cent of the families | living in Washington own their own homes, the speaker said that the per- centage should be much higher and that the figure constituted a challenge | to the real estate concerns of the city. st corner of Twenty-first street and | The high type of housing constructed The building cost is esti- and satis- | Of all the rooms in the average old | home which can well bear remodeling, the kitchen is perhaps that which re- | quires it the most. The entire idea | underlying kitchen design has changed | within the last few years, and where: here, as compared with other cities, he sald, is shown in the recent official re- port that the cost of the average house | here was $6.100, as compared with a cost of $3,100 in Baltimore. Touching upon the growth of Wash- | ington’s population as a factor show- ing the value of local real estate, Mr. | Schick cited the following population 1880—115,000 figures: the housewife was until recently con- | fined to her kitchen most of the day. modern labor-saving equipment has vouchsafed | Six negro night schools in Baltimore | evid have 2402 pupils poses t | Shipments inc: 3 | done in 1927 there is every indication | pron ekt oo o L e | Stapleton, 1617 Massachusetts avenue. | D | preceding week by 50,000,000 feet, and that 1928 will be a banner year In | were somewhat larger than in 1927 construction in Washington, due to the | Orders gained over the preceding week amount of public and semi-public | by moy - . work planned. This will mean that the | well n¢ f o (BF Cent and were laboring class will have full employ- ment this year, which will give that class of people money to spend and re good business for all classes of Tetail establishments. “The apartment house situation is yery good in Washington today and | for $50,000 damages far alleged personal injuries. She claims she was seriously | injured December 20, when a car of | the defendant allegedly was driven | across Sixtcenth street at K street !against a red light. The suit is filed in the name of Mrs. Lessie Dickerson as next friend, through Attorney T. Morris Wampler. | _The advance in the volume of the | movement was chiefly due to the soft- | wood group. which showed tremendous has shown a decided improvement | throughout the past year. Today we | find practically ali of our well located | #partment houscs are either full or| nearly so, and where there are any | large amount of vacancies it can near- Ir always be attributed to_either poor | management or misplaced. poorly | lanned and poorly operated build- | “As a_general rule, property values in the downtown business section, as well as in the outlying business sec- | s. have shown a constant increa durinz the past vear as have values in | the well located, properly resirictad resi- @ential districts.” ! Fire Razes ‘l‘w;tity Blocks. HI.LSBORO. Ohio. January 21 (#). —Fire which destroyed two city blocks | ¥ith a loss of $450.000. was brought | ‘under control early today after it had ragsd several hours 1 Bamboo shoots when young and ten- @er can be eaten like asparagus. SAVE YOUR RENT! These homes have 6 rooms, tile bath with showers, oak floors, built-in re{ rigerators, Hot-water heat, auto- matic hot-water storage tanks. Sleeping porches and fine garage. TO INSPECT: Drive out_Rhode Island 18th St R o d waik north, er 9 for auto. A Magnificent Stone Residence P In a Commanding Setting 3 SOLD LAST WEEK! BRICK HOMES 3609 18th St. N.E. JUST 3 LEFT $6,950 Small Cash Payment and $59.50 Monthly . NW Muin 800 On 17th Street Just Above Crittenden Street 4706 17th St. N.W. A blending of rugged construction with artistic detail and finish. A home of s0 many unusual festures that to enumerate them all is impossible. the house personally. 1t is of English Colonial type on an b0-ft.-front fot on one side. 1t is of solid stone fireplaces; five bedrooms and four hath room in basement; ser the Park that cannot be equaled, chaser who wants som: vants' quarters, There is an ontlonk ething of the highest qual You must see an Engiish runken garden in A stone garage for two cars is in the rear struction, with 16inch walls; contains five stone open i library; reception room; large recreation from this house over This home will appeat to the discriminating pur- and individu the grace of real leisure. | 1927—545,000 The ability to buy here is high, as enced by the income tax paid by | Washington residents which shows that Best Northwest Buys! Cafritz Lifetime Homes Greater Values—Greater Savings ‘Big 20x32 Ft. Homes " 5th & E Just Off Kansas Ave. ISR e and alley. An outstanding value! homes like them in Petworth. Attrac 6 large rooms, 3 big covered porches, tiled with built-in tub and shower, artistic decoration, hardwood floors, real wardrobe clesets. crete cellar with modern equipment. Paved street Attractive terms. T —— merson Sts. $1,500 less than any e design, th Con- Homes of Quality Parkwood St. West of 14th Rcad. B O N S %Y 10,950 and up In the exclusive 16th St. residential section, convenient to the shopping facilities at Park Two different designs. rooms, 1 and 2 tiled baths with built-in tub and shower, large porches, 1 and 2 car built-in gareges, exquisite decorations, bright kitchen, pantry, built-in refrigerator. 6 and 7 large Charming Detached Homes Chevy Chase Terrace $13,500 Exhibit Home—4609 Norwood Drive local taxpayers pay s higher average | amount than that of 30 States, he said. | Washington, he added, pays nearly as | much as the total amounts of tax paid in 10 States: Idaho, New Mexico, Mon- | tana, South Dakota, Nevada, Utah, | North Dakota, Wyoming, Arizona and | Mississippl. More than 15 per cent of | the population of the District files in- \come tax returns, he sald, this oeing the largest percentage of any jurisdic- tion in the country, the average per- centage being 6.56. Approximately 300 members of the Washington Real Estate Board, their | wives and friends, attended the annual | dinner dance of the organization held ! 'l'h:flsdly evening at Wardman Park Hotel. | _Arrangements for the affair, the larg- est soclal cvent of the year held by | the board, were made by the committee in charge, which consisted of W. Wav- erly Taylor, jr., chairman; A. Britton Brown, Albert W. Walker, J. Curtis | Walker, William L. King, Lloyd F. Gaines and H. Tudor Morsell. The en- tertainment program consisted of dances by Stafford Pemberton and two of his dancers, and a noveity act by | out-of-town talent. 5 REAL ESTATE. — 7 SPAIN WIPES OUT TRACES OF CONFLICT WITH KRIM Fortifications in Morocco Razed. Former Battleflelds Tilled by Natives. By the Associated Press TETUAN, Morocco, January 21.—The tractor has replaced the tank in Span- ish Morocco. Military fortifications have been razed and barbed wire entanglements wiped out by the Spanish government as evi- dence of the quiet which now prevals. This city is free of everything rem- iniscent of the days when Abd-el-Krim and his Riffian warriors advanced vir- tually to its gates. Where formerly Spanish troops were encamped and intrenched natives till the soil. Standard Ratio Adopted. A ratio of 50 fect of business front- age for cach 100 population is advised as a standard for subdivision develop- ment, in Du Page Colnty, Ill, by a resolution which has just been adopted by the Du Page County Real Estate Board. 17 | EARLY LABOR HAD PACT." | Paper Reveals 1,500 - Year-O0ld | Agreement to Prevent Disputes. An agreement for preventing labor | disputes in the building Industry, drawn up 1,500 years ago at Sardis, in Asia | Minor, reveals some interesting paral- lels between labor conditions then and today. The document, Electrical Work- ers’ Journal makes known, is an agree- ment entered into by the Sardis union of building artisans and the artisans of the city. Some of the most interesting provi- sions are as follows: | “That we will complete all pleces of | work given out to us by any one of the | employers, provided that the employer | is prompt in paying to us the wages mutually agreed upon. “If, when a man undertaking the work declines it, some one of us be | found neither doing anything nor per- | forming work in accordance with the provisions herein wriiten, we bind our- selves to pay (the sum) as a fine % bz used for the city's public works. . . “And for the full discharge of the fine we pledge, under a lien both gen- eral and individual, all our property, present and future, of every kind and sort.” UNUSUAL HOMES | | PRICED SURPRISINGLY LOW High Elevation—Southern Exposure (Built by Max Sugar) Sample House Open 129 LONGFELLOW ST. N.W. Two Blocks from 14th St. Cars Be Sure to Inspect These Homes—-Criticism Invited by Comparison WAPLE & JAMES 1116 14th St. N.W. FIFTH ST. AT GALLATIN These Modern Homes Are INSULATED Celotex, a proven insulating material, has been used to provide an extra roof —an air chamber over the entire house — a scal against heat loss, assuring warmer homes. And—this with a decided saving in N.W. Exhibit . Main 10260 “DUNIGAN Six Daylight Rooms Roomy Closets Built-in Tub and Shower 3 Porches Concrete Street and Alley Home 5115 5th STREET N.W. B o ONE CORNER LEFT Eight Built HAMILTON at FIFTH ST. 11,500 8 ROOMS ROOMY CLOSETS SPACICUS PORCH LARGE LAWN SHRUBBERY TILED BATH WITH SHOWER CLEAR QAK FLOORS Overlooking Chevy Chase golf course, 15 min- fuel. utes from the heart of the city. Six large rooms, 3 spacious bedrooms, living room 16x24 ft., tiled bath with built-in tub, shower and fixtur iled guest lavatory, bright kitchen and pantry. Arti; tic decovation, ample wardrobe closets, Covered porch, garage, lot 50x132 ft., landscaped grounds. Ie will be open for inspection tomorrow from 10 AM. to 9 PM., or at any time by appoinement with us. 5 Preuninger & Sons Colorado Bldg. Main 6140 In Driving Out Turn west from 16th Straet an Crittenden Street, one bloch to the house BUILT-IN GARAGE D. J. DUNIGAN, Inc. Main 1267 1319 N. Y. Ave. ghted Until 9 p’m"l DS AR AR Open, Heated and Lighted Until 9 P.M. CAFRITZ o Ownera and Builders of Communities 14th &K Exhibit Homes Open a