Evening Star Newspaper, February 16, 1929, Page 21

REAL ESTXTE/ REALTORS URGE - DWNERS' GROUP Property Holders Should Have Part in Action Taken by Boards. ‘The setting up of a Nation-wide affili- | ation of owners of real estate which ‘would enable property owners to have & direct part in support of the work of real estate boards for sound local State and Federal action in measures affect- ing real estate is outlined in a resolu- tion passed by the board of directors of the National Assoclation of Real Estate | Boards at their quarterly meeting, held in conjunction with the association's annual business meeting, just closed, in Birmingham, Ala. | The action of the board, taken unani- mously, is recommendation to the mem- | ber boards which cover more than 600 | cities. | It is important for all real estate owners and for real estate that there be a modernization of State and local | tax systems, so as to bring about a more | equitable distribution of this portion of the tax burden, and that proposed | measures for city planning and for city owth be soundly framed. Real estate | ards, it is pointed out, form the one existing group organized to speak for all real estate interests. Problems Discussed. Tt is estimated that at least 50 per cent of the work of a real estate board is concerned with civic and economic matters of great importance to prop- erty owners. | A number of boards within the mem- bership of the association have made | provision for the participation of prop- ! erty owners in the work of the board | through some type of membership other than active membership. The present recommendations look to the setting up of a distinct property owners’ division within such boards as care to adopt the gl:n. members of these local groups to eligible to membership in a pro- posed national property owners' divi- sion, which the resolution recommends that the national association set up. .. The resolution, stating expressly the details of the plan as recommended by the directors, is as follows: 1. That we recommend to the local boards that a property owners’ division be set up in each local board, such dlyision to be organized on a basis of local dues adequate to make possible the rendering of valuable service to property owners. National Division Urged. 2. That the National Association of Estate Boards set up & property owners’ division to aid such local divi- sions, to which shall be eligible prop- erty owners who are members of prop erty owners' divisions in local boards; that no general national association dues be charged against the local boards on account of such property owner members and that they be neither en- titled to use the term realtor nor to Vote in national association meetings and that the fee for membership in such division be, as in all other divisions, not less than $10 per annum, and that all proceeds secured from memberships in the national division be used ex- clusively for the work of such national property owners’ division. 3. Be it further resolved, That the board of directors of the national as- sociation, while not setting up any ob- ligation, yet seriously recommends to the local boards that local membership campaigns to secure members in the local property owner divisions be based upon membership in both local and na- tional divisions, with some proper pro- vision made, where State associations exist, for contribution by such property owner members to State association purposes, Much of the strength of the organi- zation of property owners will be in its national character; their problem everywhere is the same in fundamentals. A common constructive and aggressive program can be evolved and local divi- sions helped and guided to effective action, if there is affiliation with the national association’s divison. 4. Be it further resolved, That the n: tional association render every help pos- sible to property owner membership campaigns in local boards desiring such assistance, and to this end the national association set up a membership cam- paign department whose services shali be available to local boards at cost. ‘Wage Paprika War. SZEGEDIN, Hungary (#).—Hungary and Spain are waging a paprika war, Paprika is the national vegetable of Hungary. Spain and Hungary are the greatest producers of paprika in the world. Dunigan-built Homes | &>~ ONLY of H. Grady Gore. THE EVENING THE RITZ APARTMENTS, STAR. WASHINGTON, APARTMENT HOUSE BOUGHT BY MRS. J. S. GORE | 1631 Eueli¢ street, which has been purchased from the Ell & K Building & T nvestment Co., by Mrs. Jamie S. Gore. The | purchase price was reported to b e approximately $400,000. The transaction was handled through the real estate office 'DREAM HOTEL NOW GHASTLY RELIC OF COLLAPSED BOOM BY CAROLINE MABRY. | From the New York World. It stands like a haunting skeleton of a dream, for its steel girders, unincased at the highest point, rear like ghastly fingers spread against the sky. This skyscraper hotel, built in the heart of the North Carolina mountains, was to have been unique. And it is unique, for its halls have been abandoned to the custody of a single caretaker, who | sits in a wooden shack and registers no | guests, The first 12 stories of the hotel are incased in tile. The others are unfin- | ished. Two windows are set, but many |of them are broken. A great heap of | decorative tile in delicate tinted designs is piled near the entrance, only half burying the blueprint by which the | tile was to have been set in place. print itself has been left on the ground as if some workman had been ordered away while studying its design. Nearby, still baled in their shipping crates, are the bathtubs, rusting in the weather. Adjoining the bathtubs are radiators, wasting like bones on a for- gotten hillside. whole disaster which overcame the Fleetwood, & pickax is stuck in the ground #® if waiting for some laborer to grasp its handle and resume work. Intended for Hotel. This skyscraper hotel was to have been identical with the Fleetwood of Miami. It was the dream of the same man who built the coast hotel. It was financed by funds which were involved in the Florida land boom and depended For the land boom there, seeking re- lief from the torrid Summer heat, spread to the North Carolina moun- tains. Here it was cool in Summer. Here was a change of scenery. In- flated prices were put upon mountain property, and the owners soon found themselves the victims of that infla- tion, for the bubble burst over their astonished heads at a time when they were beginning to feel that they could buy the moon. ‘The promoters of the Fleetwood found themselves out of funds and un- able to secure more. Mechanics’ liens were levied. They were followed by attachments for other labor and for materials. Construction ceased. Every contractor who had furnished anything toward the project appealed to thc courts, and such a legal tangle ensued that it was impossible to offset onec claim against another. Cases were car- ried to the higher courts. Decisions hung in the balance. The property |was put up at sheriff’s sale and one | creditor bid it in for $1,000. But the isherm could not make a valid deed. No company wanted to risk refinancing the now-abandoned hotel, for no clear title could be given to it. Its yawning doorways faced the sun, unfinished and unused. And so it stands at the end of = mountain road, 6 miles from the near- est town, Hendersonville, N. C. The on a typical Dunigan street. This means real homes in a completed neighborhood. Streets and alleys are paved, curbs, parking, every- thing is in and paid for. There will be no spe- cial tax assessments. The | And symbolic of the | ‘| title must be cleared, but the courts will upon Florida's continued prosperity. | = well built highway by which it is ap- proached winds through pine forests and thickets of mountain laurel. It curves around the mountain, giving the climber views of unsurpassed beauty at every turn. For the Great Smokies— the origin of whose name no one kno —Ilie before it, casting their purple shadows over the town in the valley. | ‘With each upward turn of the road new scf‘(-xfilsl unfold in a changing panorama o s. View of Mountains. From the mountain top, which has been shaved off to make a resting place for this gigantic structure, one may look in any direction and find himself completely surrounded by mountains. To the west, at sunset, range after range fills the horizon as far as one can | see.” Deep, long shadows fall across the | peaks, fringed with sunset colors. To the east, smoke-colored hills rise in the fading light and the skeleton hotel casts |its shadow across gray slopes. There | are mountains to the north, others to | the south. It is one of the most glori- ous sites ever chosen for sheltering those who love the mountains. And since its location is a thing of such rare beauty, is it likely that the venture will be completed? First, the eventually do that. Then will specu- lators care to risk the burden of re- financing? Will a skyscraper hotel in the heart of the mountains, removed from any town, prove to be a paying proposition? Will its isolation, no mat- BEAUTIFUL KANSAS AVENUE HOMES 20 ft. wide, six large rooms, real open fireplace, breakfast and sleeping porches, concrete front porch, Cafritz wardrobe closets, parquet floors, 7 oak hardwood floors and trim throughout, elaborate kitchen dressers, Kelvinator Electric Re- frigerator, colored one-piece sink (buff), artistic two-colored bath (green—buff), garage and paved alley. Emerson Street Bu Street Car —Georgie Ave. at_Emer- son Street to Kansas Avenue. Exhibit House 4925 Kansas Avenue AFRITZ 1016 14th M. 9080 ter how luxurlous, appeal to those bent on pleasure? Its future is uncertain, but an opti- mistic belief persists among those who live in the vicinity that some day it will be finished. As it stands now, its effect is bizarre and startling. Rearing its head far above the tangle of native timber, it can be seen for miles, and upon first sight of it, one wonders if some lost skyscraper from lower Broadway might have been wafted there on a magic carpet, dropped in its flight over the mountains—and been forgotten. VETERANS TO ATTEND SERVICES FOR MAINE Pythian Temple Program Under Auspices of Potomac Depart- ment, U. 8. W. V. ‘The Department of the Potomac, United Spanish War Veterans, will hold the annual Maine memorial services tomorrow at 8 o'clock at Pythian Tem- ple, Twelfth and U streets. All ex- service men of the Civil, Spanish-Amer- ican and World Wars, their families and the public are invited. Prof. Charles M. Thomas of the Arm- strong High School will deliver a his- torical address on the part taken in all American wars by the Negro. BURLEITH Centrally Located, But Still Suburban Near Western High and National Cathedral See 2206 Tunlaw Road N.W. ‘Open Daily Until 9 P.M. Delightfully arranged six and seven room Colonial brick homes, with one and two tiled baths, three spacious porches, fireplace, electric refrigeration and garage. Attractively and artistically fin- ished throughout, with every up- to-date feature. A Low Price and Easy Terms Robert E. Kline, Jr. Owner 718 Union Trust Bldg. M. 5246 Or Any Broker Go North on 37th St. 2 blocks from T ? LEFT D. C. SATURDAY, LOAN ASSOCIATION CONTROL IS URGED iMaryland Committee Favors | Regulation by Department ’ of Tax Commission. special Dispatch to The Star. BALTIMORE, February 16—A rec- ommendation that building and loan associations in the State, with deposits of over $200,000,000, be placed under supervision of the State Tax Commis- sion was made to Gov. Ritchie this week by a committee appointed by the governor last year. ‘The report asks that the tax com- mission establish a building and loan association department, whose expenses would be defrayed out of fees collected from the associations. | _This department would examine an- nual statements submitted by associa- tions and would have a right to order a complete examination of any asso- ciation upon its own initiative or upon the written request of a majority of the board of directors of an association. When it is found necessary, the tax commission should, under the terms of ! the report, have power to take over the affairs of any building and loan asso- cilatlon for reorganization or liquida- | tion. Under this code, associations would not be permitted to charge a bonus or a commission for granting a loan nor would they be permitted to make any deduction in the amount of the loan. Associations would also be permitted to charge interest fees not in excess of $1 per share when the par value is over $100. If the par value is less than $100, i garage . . . Our price and rea- sonable terms will interest 1418 Eye St. N.W. # A Big P RRSARRISLLLI002RINIRBBRBIVLIVRDRBLLES But a FEBRUARY 16, 1929.° REAT ESTATE. Home Modernizing Available to All At Fair Price, Great numbers of Americans may | ent upon large areas or great heights.” modernize their homes to make them accord with the national ideal of beau- tiful homes expressed by President Coolidge in his recent speech at Moun- tain Lake, Fla, Gerald Lynton Kauf- man of the New York Chapter of the Almerlctn Institute of Architects de- clares. Characterizing the President’s speech as a great stimulus to the movement for bringing harmony of design and | environment into every residence com- | munity, Mr. Kaufman recalls the Pres- ident’s remarks: “Some of the most appealing and fas- | cinating homes in the world are small. They may represent but little outlay and be the abode of people of moder- ate means, but if there dwells fine character within it will shine forth and give to all the surrounding a touch of peace and loveliness which the most spacious palace cannot surpass. “While few have the means to present such a gorgeous display as will here strike the eye and the ear, it is well to remember that beauty is not depend- interest fees could not exceed 50 cents a share. Appraisal fees not exceeding 20 cents a share plus traveling expenses could also be charged. The recommendation would abolish the practice of permitting persons to deposit money with building and loan assoclations and receive a fixed rate of interest. “Associations must not have more than two classes of shareholders, free | or unredeemed, and borrowing or re- | deemed,” the report says. “It must have no depositors or depositing mem- bers in contra-distinction to the above New homes of outstanding distinction in Cleveland Park CHOICE of four individually planned de- tached brick homes ideally situated at high elevation in the heart of Cleveland Park proper— on 150-ft. lots ... eight rooms, two baths, first-floor lavatory, maid's room in attic, electric refrigera- tion, copper screens, plastered basement, brick 3518 PORTER ST. Open daily and Sunday until 9 p.m. NL S CQMPANY INC. Owners—Builders SRRRIRLNILALLVNLRLLEHOD —that’s a big value—but which can be bought considerably under price 2149 California Street" step west and no class of shareholders or deposi: tors receiving a fixed rate of interest in | distinctlon to dividends declared out of | net profits.” those of moder- ate income who want only the best. See them! ansbury National 5904 F % TEETED s House of Connecticut Ten years ago homes throughout the 2r today home comfort is available to every one willing to pay a fair price for modernizing. “The difference between remodeling Arcl’utect Declares and modernizing is more than one of nomenclature, It is the difference be- tween the trial-and-error method and that of modern science. Behind the newer term lie years of research by architects, engineers, builders and in- United States were being remodeled | dustrial laboratories into the economies | of reconstruction. after the war, Mr. Kaufman points out. “The four-year period of enforced neglect of upkeep and repair created , an urgent necessity for alterations and fepair. Building activity was stirred to intense heat, and in 1920-21 boiled over, with the result that many home- owners were scalded by the steam of rising prices,” he said. “Since 1921 this ebullition has calm- “Modernizing must mean far more than simply replacing the obsolete with the up-to-date; it must mean far more than an increase in comfort and con- venience, and it must transcend the mere substitution of the beautiful for the ugly. The economics of modernizing concerns the resultant value of the fin- ished home and - must stand com- ed down to a warm and healthy sim- | parison with new constructfon involv- mering of labor and material costs, and Y Pr 1; Sivmbica ing a similar investment.” Ask for s: ple of Du; Tontine The Windows of Your Home Are Seen by the World They Will Be a Constant Source of Delight it Shaded With Sunproof, Waterproof @ TON TINE FACTORY PRICES SAVE YOU MONEY our office, National National 9530 “ith All the New Up-to-Date Equipment BUILT-IN GARAGE For a Real Value See This Home at Once Drive out 16th St. or Georgia Ave. to Longfellow St., east to 5th St. and look for our signs. 9530, WALTER A. DUNIGAN A Beautiful Corner CAN BE BOUGHT AT A BIG BARGAIN Come Out 5715 5th St. N.W. Sunday Or call for auto to inspect. 925 15th St. N.W. FIRST SHOWING of 3814 Livingston St. NEW detached brick center-hall plan residence Avenue—in a delightful neighborhood. & one-half square west of Con- necticut Ave. on a wooded lot 150 ft. deep. . . . Four bed- rooms, two baths, two-car garage, slate roof, and a dozen towering shade trees that pro- vide a beautiful and appropri- ate setting for one of the prettiest homes ever built in Cl’levy Chase. A remarkable valuc at $19.450 Open Sunday After 10 AM. for Your Inspection NL S Consider this out- standing advantage Its appointments throughout are ex- cellent. Hardwood trim, panelled walls, artistic lighting fixtures—electric floor plugs everywhere—and rooms of splen- did size and arrangement—with broad hallways, etc. 14 rooms—2 baths—open fireplaces— built-in bookcases and dressers—butler’s pantry. Every room flooded with day- light. The entire home has been put in thorough condition. ETWORTH HOMES Exhibit Home Open and Lighted Every Day Until 9 P.M. 5104 FIFTH ST. N.W. and then come see the many other features. A veritable bargain at 8,950 On Easy Payments Just Like Rent Very low price— tempting terms Open Sunday from 10 AM. to 9 P.M. = MEEEI0S Deal With a Rebitor 1415 K Street National 4750 BIG ROOMS 3 PORCHES GARAGE “We Challenge Comparison” D. J. Dunigan, Inc. National 1267 1319 N. Y. Ave. . Sansbury CGMBANY INC. 1418 Eye St. N.W. Exclusive Agents National 5904 SRS S S TS S U S S S SRS ST SRR TS ey