Evening Star Newspaper, September 14, 1929, Page 16

REAL THO MEANS CITED TOAD CONSUMERS Private. Capital and Public| Works Seen Ways to He]p Buying. Power. “There are two ways in which at times we set up a flow of purchasing power to consumers which enables them 10 take away our output ahd keep. busi- ness prosperous—the first i by new| private capital works; the second by new public works.” . This is a statement by Willlam T. Toster, director of the Pollack Founda- tion for the study of economiic policies, | made public today by the American In- | stitute of Architects, in which he de-| clares that the United States is about | to emerge into & new fleld.of economics, | in which President Hoover is the chief spokesman. Discussing the proposed means of| preventing periodic depressions in busi- | ness, Mr, Foster states, in part: | “The reason that the development of private works helps to sustain consumer buying is that while we are expanding our new capital equipment we are pay- ing out wages, but we are not’produc- ing anything with which to glut the market. The payment of wages in the pracess of building a new railroad, a new automobile factory, a new office ‘building, are advance payments to con- sumers. We expect to get them back some time in the future, but for the time being they are a net gain on the side of consumer purchasing power. Sustain Buying Power. “The other way in which we do at times make up this deficit is by the expansion of public works—highways, roads, harbors, bridges, buildings, parks, and so forth. So long as the expendi- tures for public works by city, State and Federal governments go on at a sufficient rate, they sustain consumer purchasing power. “Of Ccourse, governments could not | increase the purchasing power of con- sumers if they paid out in wages only what they collected in taxes, but the faet is that there has been expended in the last year over $2,000,000.000 more than there has been collected in taxes. That means that there has been some borrowing. and, directly or indirectly, that has involved an expansion of the| volume of bank credit in circulation. “Now, as long as these two develop-| ments go on at the right rate we can| have adequate consumer buying, and therefore business prosperity. But that does not and cannot come by chance. On the contrary, once you get started toward inflation, once the flow of money to consumers gets going at too fast a rate, as it did in 1917, 1918 and 1919, it tends to become not better but worse. It does not automatically cor- rect itself except over a long period and at a tragic cost in human suffering. ‘The same is true of deflation. Application of Science. “What can we do about it? At least ‘we can bring to bear in public expendi- tures the intelligence which is already brought to bear in some of the most notable and_successful of our private industries. We can at least base our procedure upon measurements instead | of guesses. We can attack scientific problems in a scientific way. “In period of inflation governments are prone to compete with private in- dustry for men and materials, thereby making things worse. In periods of de- flation they go on with a prearranged am, paying no attention to the fact that additional government ex- penditures at that time would help to offset the deficiency in consumer pur- chasing power and thereby sustain gen- eral prosperity. ““The first thing we need is the facts. Let me point out to those who fear governments may have too much to do with business that the Federal Govern- ment last year spent nearly $4,000,000,- 000; that State and local governments spent nearly twice as much; that these expenditures .are probably going on at about this rate in the future, whether ‘we like it or not. “Such huge expenditures inevitably affect business. They may be made more intelligently, provided we have the right basis of facts. Obviously, we must know who the unemployed are, how many there are, where they are, and why they are unemployed. Need Statistics. “Also we must have better and prompter statistics than we have had in the past of price movements, because the movement of prices shows better than any other single index whether consumers are recelving the right amount of money. Obviously, we must | g0 on with the statistical advances which we have made in recent years. “The next thing needed is that gov- ermments shall use this information as & guide, so that they will promptly spend more for all sorts of capital works. ‘when employment begins to fall off and the price: leve]: to sag and there are indications of general overproduc- tion. Conversely, they should spend Jess when the indices show a movement toward inflation. ““The whole country, so far as we can see, is ready to follow the leadership of the Federal Government in this mat- ter. As never before, there is a possi- bility of getting somewhere.” -— Seeks $10,000 Damages. Mrs. Savina Leon, 1916 Seventeenth' street, yesterday filed suit in the District Supreme Court to recover $10,000 dam- ages from John M. Deibert, 1501 Con- necticut avenue, for alleged personal in- Juries. Mrs, Leon says she was a pas- senger in a taxicab July 5 last on Ex- ecutive avenue near the east gate of the te House when the defendant’s au- tomobile collided with the taxicab and caused her to sustain serious injury. | She is represented by Attorney Alvlnl Newmyer. Detachéd Chevy Chase 4315 Ellicott St. Chevy Chase (Lot 45x105) ESTATE. acquired through the office of Boss & eight rooms and two baths. Residénce at 4533 Lowell street, which has been purchased by Francis J. Daly, manager of the new Washington branch of Sears, Roebuck & Co. It was Phelps from C. C. Birnie. It contains ON REALTY ROW Reports and Observations Concerning Business and D. C. Agents. Sansbury Co. Outing. Horace G. Smithy, vice president of the N L. Sansbury Oo. entertained members of the sales and office force of the company at his Berryville, Va., home last Saturd: Golf and a base ball game topped off the day’s program. Among those present were William M. Throckmorton, Russell B. King, Francis A. Murray, Charles W. Steers, R. B. Dunlop, Walter bush, Charles McGuire, John J. O'Con- nor, Thomas Ransdell, George F. Clendaniel, Vincent A. Carlin, Frost Mills, W. McA. Jones, Leonard A. Butt, Charles Cable, H. E. Brockson, Norris Fussell and Phillip Key. A Rust and Bowie Return, H. L. Rust, jr., and Calvert Bowie of the H. L. Rust Co. returned last week {from a month of vacation spent at Honfleur, France. \ * ok ox % Sees Romance in Building. ‘The building industry is an attractive field of work for the youth of the country, for it has a romance about it that time cannot dim, Louis T. Breu- ninger, Washington realtor and builder, declared in a radio address last week over station WRC. Citing definite ex- amples, he said: “A bricklayer, who starts when he is 17 years of age, begins at $15 & week and for four years serves an aprentice- ship, during which time his pay is steadily increased. At the end of his apprenticeship he becomes a journey- man bricklayer, earning close to $3,000 annually, and remember he begins to earn this money when he is 21 years old. As against this, the average Gov- ernment employe receives about $1,800 a year, and few bank employes receive as good a salary. Of course, I am assuming that the same initiative and energy will be applied by the young bricklayer as is necessary to go forward in any line of endeavor. “If such a young man is ambitious his service as a journeyman bricklayer is only a step toward becoming a sub- contractor. This puts him in business for himself. Many of our builders in business today have started at the bot- tom in just this manner, not necessarily as bricklayers—for there are many other lines, such as carpenters, plumbers, steamfitters, electricians, etc. Do you know that technical schools and col- leges are today giving degrees in many of these lines of endeavor? “The opportunities are limited only by a young man’s ambition. Some of Washington’s most successful builders today started 25 or 30 years ago with only ambition, willingness to work and a vision of the future. “You may have read recently of the $71.28 SMALL APARTMENT Liviss Room., 2 Bedrooms, Kitchen and Dinette Or _Slight _Alteration Room, roem. Kitchen t Room ALL LARGE ROOMS SMALL CASH PAYMENT Total Monthly Payment.....$120.08 Total Monthly Interest. 71.28 Total Monthly Saving......... $48.75 NET MONTHLY OUTLAY $71-28 ALSO One large, one small -'pmmm FOR RENT by owners unable to occupy same. - M. &R. B. WARREN 1661 Crescent Pl Runs West from 16th St. Telephone “HOMES OF UNUSUAL EXCELLENCE” Frank Harrison, | B. Jarvis, John L. Shea, Millard Ritter- | James _ Orr, | $50,000,000 French Chamber of Com- merce that is to be erected in New York. The bullders of this building are the Chanin brothers, who left the Army in 1919 and managed to borrow just enough money to build two small houses in Brooklyn. Today, 11 years after, they are about to construct one of the world's largest buildings. “This is indeed romance sufficient to attract the imagination of growing young America, and these same oppor- | tunities still exist. We do not erect such large structures in Washington, it is true, but greater things will be done here in the future than have ever been done in the past.” oK ok % Ellis Motors Home. William R. Ellis, member of the ap- praisal committee of the Washington Real Estate Board, has returned from Asheville, N. C., where he spent a vaca- tion. He motored to and from the Southern resort. Cafritz Co. in New Home. The Cafritz Co., realtors and build- ers, has moved into its spacious new quarters on the first and second floors of the Ambassador, large club hotel building now being completed on the southwest corner of Fourteenth and K streets, built and owned by Morris his name. The new offices have a lobby, infor- mation and reception quarters on the | side, with conference and business quarters and private offices on the sec- ond floor. * X X & Finn Takes New Post. L. A. Finn, who has been engaged in real estate business for about a score of years, has joined the sales staff of the firm of McKeever & Goss. He formerly was in business here for him- self and also has been assoclated with other local concerns. Special Dispatch to The Star, BALTIMORE, September 14.—Hold- for buildings because they would create a traffic hazard soon would dwarf the growth of the city, Judge Eugene O'Dunne this week reversed the board of zoning appeals, which had refused to allow a gasoline station in one of the suburban sections. Maxwell Suls, chairman of the board, testified the permit had been refused because the station would be near frame bulldings, thus creating a fire hazard, and that a station at that point would create traffic congestion. Clarendon Firm Chartered. Special Dispatch to The Star. RICHMOND, Va. September 14.—A charter has been granted Columbia Service, Inc., of Clarendon, Va., with maximum capital of 10 shares of com- mon without par value and $14,000 pre- ferred, to deal in real estate. Willlam Shioutajos of Washington is president. is one of the features usual condition self: giving to expression. It is this persistent Cafritz, head of the realty firm bearing | first floor, with entrance on the K street | REVERSES ZONING BOARD. ing that a policy of refusing permits | “Converting Landscape Defects Into Interesting Spots™ Wesley Heights upon which the Board of Trade's Jury of Award bestowed for the second consecutive time the highest honor upon the Garden Spot of Washington. There are many examples of what the Jury of Award refers to—artistic treatment of un- adding beauty to nature her- ch home a superb setting and providing for its neighbors pleasing scenic VIRGINIA REALTORS Measures Designed to Pro- tect Investors Will Be Sub- mitted to Lawmakers. Special Dispatch to The Star. NORFOLK, September 14.—Virginia realtors will submit legislation dullnh to further Yl’oucl the interests of the real estate investor in the Old Domin- ion at the next session of the State Legislature, if plans worked out by the association’s legislative committee are lxd(:)p‘tfl:e‘l '-hi.l“lelnlh -ngaxneonvenugn of the esf organ! n in’ Rich- mond, October 23-24-25, The realtors are'particularly desirous of strengthening the Virginia real es- tate regulatory license law, which pro- vides a fine, imprisonment, or both, for misrepresentation of property offered for sale or rent. Other legislation, hav- ing as its object the betterment of real estate throughout the State, will also be presented for adoption. Among outstanding speakers who have accepted the invitation of the as- soclation to address its convention on legislative and tax matters are Attorney General John R. Saunders, Tax: Com- missioner Charles H. Morrisette and John R. Moore, chairman of the Vir- ginia Real Estate Commission, and Gov. Harry Flood Byrd. Other topics of interest to the mem- bers of the real estate fraternity thst will have prominent places on the pro- gram are “Advertising and Salesman- ship.” The association has virtually been assured of two nationally promi- nent authorities to speak on these two subjects. ‘The State program committee, head- ed by Ravee Norrls of Richmond and | including Guy N. Church of Fails Church and Otto Hollowell of Norfolk, president and secretary of the State body, respectively, are completing plans for the convention. {BUILDING MATERIAL PRICES ARE LOWER | il | Weakness in Cement Situation, Brick and Tile Business. Held to Be Cause. Indices of building material prices | | recorded a decline in August. due pri- | marily to the weakness in the cement situation and to a lesser extent to declines in brick and hollow tile prices, it~ is reported by S. W. Straus & Co. The statement says: | ~ “The outstanding event was the cut | |of from 10 to 30 cents per barrel; |at & number of the cement mills, this cut was passed on to dealers and con- tractors throughout the country. Lum- ber prices have been maintained by | curtailment in production; fluctuations | | in_prices have been local and on spe- cific items rather than general. In | spite of the decline in buliding permits, | the type of construction has been such as not to affect the demands for struc- | tural steel and prices have remained rather steady. “Organized labor in the building in- dustry seems to be swinging to the five-day or the 40-hour work week. As a result of a national survey it has been found that approximately 25 per | cent of the bullding mechanics of the | country_are now _on_this shorter week | Business | Property | Leases We specialize in finding the right location. It will cost you mothing to talk over your problem with us. BOSS & PHELPS INSULT Mr. BRENT TS (bt SR The Garden Spot of Washington SEEK LEGISLATION = in the development of consistency with which schedule. ‘The backbone of this move- ment is found in the metropolitan dis- triet of New th'wnt' d'hm klm workers are on the five-day weel 3 It"h estimated ‘that mor’u than 300 cities and towns have ‘the five-day week in more. “Representatives of bullding workers contend that the flve-day week will ald in taking up the slackness in the unemflloyment sl tion is o] by many builders who hold that on large projects as rhany craftsmen are used as can be eco- nomically employed.” Record in Building and Loans. Special Dispatch to The Star., BALTIMORE, September 14.—Mary- land had 1,210 building and loan as- sociations at the end of the fiscal year, ed | the majority of them located in Balti- more, and ranks tenth in the United States in membership and total assets, according to C. Philip Pitt, secretary of the Real Estate Board. The total membership is 330,000, with total as- sets of over $210,000,000. There’s no Spot in All Washington Like WARDMAN ANNOUNCES PLANS FOR CHEVERLY ‘Will Build Detached Houses in Sec- tion Recently Acquired in Nearby Maryland, New home developments in Md, subirban section, jocated. et three-quarters of & mile northeast of the DI line, along Defense High- way, will be of the detached home style, | tn Kkeeping with the general character o: the 76 or mnr:fl homes already there, it was announc Cia LR, today by Harry The Wardman Corporation recentl; took over the section in an :xchll:lrz deal with the Washington Suburban Realty Co., in which the latter concern acquired leasehold intevests of the Wardman company in the La Salle .li:rxguglnl. Connecticut avenue and L "The last session of the Maryland Legislature passed a bill providing - for “The Way to Beautiful Homes™ -, g oS SHEPHERD PARK The ldeal Home Community : OU will wever know how inspiring and exhilarat- ing your home life could be until you have visited our beautiful subdivision here in Shepherd Park. Let your children romp and play om wide, safe, sun-lit lawns. Here, too, they will have more outdoor play howrs be- f thy ‘Directions: Drive out 16th St. Al A to home-site. home. .. tu 1o furnished Come this Sunday for surpassed showing of our home at 1356 Iris St. N.W., and others which have been completed or mearing com- pletion. The home pictured above been Charmingly Furnished Many who come here to see have come back to stay because of the many comvemien- ces afforded by this Ideal Home Community. Breuninger & Sons 211 Investment Bldg.—National 2040 Washington’s Oldest Established Builders REAL ESTATE. the construction 'of an addition to the|the south e to the . two-room brick schoolhouse located atl be nfim%@”flm Ao Lk the Interiors! The interiors of these homes are just as attractive as the exteriors...as our photo this week shows. The fireplace is one feature, for instance, that has attracted the ‘most favorable attention from visitors. The Exhibit Home 3624 WINDOM PLACE NW. North Cleveland Park Open Sunday 10 AM. to 9 P.M. Week Days 1 PM. to 9 PM, See the attractive living room, dining room, break- fast room and kitchen and pantry on the first floor... then go through the 4 large bedrooms. . .note that they have separate entrances off hall...not forgetting the two tile baths as modern as today. Other features are electric refrigeration, large attic, 2-car garage, cold storage room and coal bin under front porch...plenty of electric outlets...and other things’ that you will want to see for yourself. DRIVE OQUT Connecticut Avenue to Bureau of Stand- ards at Van Ness then West to Reno Road, then North to Windom or out Wisconsin Avenue e to Windom Place, then East. Weng’er Bros.. Inc. Real Values in Real Homes 1627 K Street N.W. Main 3174 [d[c———=]o[c——=3|o]c———=]o[c———]a]c—————lale——=lolc——|a|c———| An Inaable Value HO can resist the hospitable charm and dignity of This Center-Hall Co- lonial, comman ding one of the Beau- tiful Wooded Slopes of Matchless SLIGO PARK HILL 12 900 9 At Its Astounding Price of the development of Wesley Heights is being carried out that makes it matchless in beauty and unequalled in its attractiveness as a place of residence and safe for home investment. You'll enjoy the picturesque drive _through its maze of streets and avenues—prebenting a ° kaleidosc8pic view that changes with every: * turn of the road. The'present exhibit home is at 4523 Hawthorne Str. Open for inspece tion every day and evening, including Sunday, from 10 AM. to 9 PM. W. C. & A. N. Miller . Owners and Developers 1119 Seventeenth Street ) Price $8.950 ! New homes—without an equal in quality, features and value. These detached homes contain 7 rooms and bath, hot-water heat, electric lights, hardwood floors throughout, unusually large cedar closets and front porch: A house to which you’ll proudly point and say “that’s my home.” *Its four sun caressed exposures afford unobstructed vistas of the rolling Maryland hills. It has a 75-foot terraced frontage on two paved streets. It nestles among age- (ONE SOLD) old oaks. And in its spacious Colonial interior, no convenience has been over- looked which might contribute to the solid comfort and happy camaraderie of Convenient to every facility family life. Schools, Stores and Churches DIRECTIONS : Drive out Sixteenth Street to Alaska Avenue and District Line; watch for large Sligo Park Hills sign; turn right at this point— following arrows. Sales Office, 7900 Georgia :lmuc; Shepherd 2400, Representative on Premises Built and for Sale by .. . Pl GRADY Nat. 6981 ORTH Realty E. Brooke Lee, Pres. P. Blair Lee, Vice Pres. Drive out Wisconsin Avenue to Ellicott Street and turn west to houses 314 Investment Bldg. is Walker, Treas.