Evening Star Newspaper, November 16, 1929, Page 20

20 REAL ESTATE. THE EVENING STAR, WASHINGTON, D. C, SATURDAY, NOVEMBER 16, 19329. \DUSTRIAL NEEDS OF CAPITAL SEEN “xpansion Held Necessary as Matter of Employment for Future Citizens. _(Continued From Seventeenth Page.) REALTOR PREDICTS ERA OF BUILDING | Culver Also Sees Real Estate Securities Gaining Favor as Investments. That the builders of the country will | have plenty to do to occupy themselves out are a distinct asset in the econemic | petween now and 1950 and that real welfare of the residents. More indus- | ‘ries of this character should be en- | couraged to locate here. “I believe that all will agree that with each passing year Washington be- comes more and more an attractive place in which to make one’s home. And this circumstance goes hand in hand with a phenomenal recent growtn industrially, for Census Bureau figures show that in a five-year period during | which the country at large showed u gain of only 4 per cent the value of Washington products increased 24 per cent.” Commissioner’s Statement. District Commissioner ~ Taliaferro writes that “Washington in recent vears has enjoyed an industrial devei- opment which does not conflict with the upbullding of the city along lines appropriate to the Nation's Capital. As a result we know that certain indus- tries are a distinct asset to our people because they not only provide employ- ment for many of the children grad- uated from our schools each year, but also contribute notably to the economic independence of the community.” Commissioner Dougherty cited census | figures showing that the population of ashington had increased 24 per cent since 1923, far greater than in mosc cities in the East. This, he states, creates a proportionate greater neea of opportunities for employment, “for without them oncoming generations necessarily must turn to other cities for means of livelihood. “While the Federal Government is our greatest single employing institu- tion, only about one-fourth of our gainfully employed derive their wages from this source.” Parents Face Problem. Mothers and fathers are faced with the question: “What will our children do to make their livings?” it is brought out pointedly by Maj. Gen. Anton Stephan, president of the Merchants and Manufacturers’ Association. He adds: “The effects of this situation upon the home and upon the community are not “This whole problem of employment is receiving the serlous attention of ‘Washington's business leaders who see in it the greatest potential obstacle to the normal future growth of the Cap- ital City. Al are agreed that the great need is to multiply the number of em- ployment opportunities locally available. To this end they are urgently advocat- ing the expansion of present industries, the creation of new industries, the bringing to Washington of the head- quarters offices of national associations and the encouragement of needed Gov- ernment and private undertakings of every kind which will result in the cre- ation of new jobs.” E. J. Murphy, president of the Wash- n Board of Trade, writes: “It is obvious that Washington does certain advantages for commerce and industry. It is located at the head of navigation on the Potomac and has a deep-water harbor. Its railroad fa- cilities are unique, placing us in a strategic position for the distribution of | estate securities will be correspondingly popular was predicted by Harry H. Culver, president of the National Asso- ciation of Real Estate Boards, when he spoke Thursday night on a radio pro- gram broadcast from Chicago. Mr. Culver emphasized as two of the most important tendencies in the ! American real estate fleld today the construction of ever bigger bulldings and the enormously increasing volume of building which is going on at present. Answering critics who find the Amer- ican super-skyscraper the outgrowth of rivalry between builders and cities and who regard these soaring structures as a mania for something bigger and bet- ter, he emphasized the need for speed, efficiency and intense concentration of business in Ameriea where, he declared, more business is done and business is accomplished faster than in any other nation. Building Just Catching Up. Speaking of the vastly increasing volume of building going on today, Mr. Culver pointed out that building was necessarily halted somewhat during the war and was just now catching up with dtself. As another reason for this large volume of building he cited the enor- mous influx of rural population into the cities. This immigration into urban communities is due to continue, he be- lieves, as is the increasing average wealth of the American people,dwhlc makes attainable better iving busi- oods throughout the Southeast. The foeal’ supply of skilled and unskilled labor is adequate for expanding needs and public utility service rates compare favorably with the rates in other cities. Most important of all, Washington is the center of a great market which should approximate 1,000,000 in the next 10 or 15 years. Can Increase Industries. “It is my firm belief that Washing- ton's present list of industries can be greatly increased. It seems to me that there might well be additions to the local food and clothing industries and to other activities dealing with building materials and supplies; printing, pub- household _equipment, ~ and dozens of other similar undertakings.” Charles W. Darr, president of the Chamber of Commerce, states: “Greater Washington today manu- factures annually products valued well against the old-style, discover in this city because local man- their establishments that they fit har- moniously into the civic scheme without detracting from the dignity and beauty of their immediate surroundings. Cer- plants to serve as models for the coun- try as a whole.” Dress Up Your Home For Thanksgiving You will be surprised to learn how much more enjoyable your Thanksgiving dinner will be if the surroundings are made more at- tractive through the medium of the “Best Paint Sold.” Drop in and secure a color chart, Exterior and Interior Paints, in gloss or flat tone. Floor Varnish, in clear and wood colors. Quick-Drying Enamel, for furniture and woodwork. Turpentine, Brushes, Pl Putty, Elastic Wood, Putty Knives, Patching ter and other painting accessories. Barber & Ross . “The'Big Hardware and Housefurnishing Store. 11 AND G STS. ness quarters and which consequently adds to the volume of business going on. “Real estate financing methods,” Mr. Culver declared, “have had to undergo changes in order to make possible these bl?‘er buildings and this increase of volume in construction. “Changes in the field of real estate financing have been numerous and im- portant,” he stated. “For one thing there has been a large and steady growth in the amount of building that has been financed through the medium BULDING AWARDS FALL N OCTOBER Five Districts of United States 1 crease of 73 per cent over September’s total and a marked increase of 30 per cent over October of last year. Construction started last month in the Middle Atlantic States (Eastern Pennsylvania, Southern New Jersey, Maryland, Delaware, District of Colum- bia “and Virginia) amounted to $51,- 531,600, representing an increase of 6 per cent over September and a decline of 34 per cent from October of last year. Analysis of the October building record showed the following items of of bonds. I do not mean to say that note: $16,959,300, or 33 per cent of all contracts awarded for new building and engineering work. This total represents an increase of 25 per cent over the - ceding month's record, but was off 46 per cent when compared with the same month of last year. Contracts awarded since the first of the year amounted to $1,184,737,300 against $1450.935400 for the corre- sponding period of last year, a decrease of 23 per cent. In contrast to other figures the con- templated new work reported during the past month shows an enormous in- crease of 239 per cent over the pre- REAL ESTATE. New Semi-Detached Homes in Marietta Park 5th and Oneida Place N.W. You will like these altractive homes of artistic design and solid lishing and lithography; furniture and | the individual mortgage has been crowded out, for it is still a very im- portant factor, but bonds have been gaining ground. Bonds Held Safe. “A mortgage on a skyscraper would usually have to be for at least several millions of dollars. Not many investors would care to place so large a sum into one project. Consequently the practice 1s to divide the investment into bonds of convenient denominations, usually $1,000, $500 and $100, so that we now have good real estate bonds to fit almost any investment account. They offer safety, marketability, attractive income and diversity for the investor who wants to distribute his holdings over a wide fleld both as to industry and location. “As a result of increase in the de- mand for real estate bonds, it has be- come a practice to group a number of properties together and to issue bonds against these. Sometimes a large num- ber of mortgages upon individual homes, apartment buildings and small business properties are grouped together and bonds are brought out against these collaterals.” Mr. Culver declared that real estate today constitutes a sound basis for financing and, in view of the tendency toward bigger buildings and the in- creasing volume of building, one of the best forms of investment for persons of both large and small means. Although the prospects for advance- ment are better in the large stores and in trades, 70 per cent of the girls leav- ing schools in England prefer to go into offices because the hours are shorter. TONTINE! I - v l,|q|||||| Alone Show Construction Increases. October construction awarded in the 37 States east of the Rocky Mountains show a slight increase from September but a decrease from the preceding October, according to F. W. Dodge Corporation. Last month's total, $445,642,300 in amount, was $240,000 greater than September 1929 record, but was off 25 per cent when compared with the October 1928 total. During October there were five dis- tricts that showed increases over the preceding month and two showed in- creases over October of 1928. In the volume of new work reported as con- templated all districts showed increases ranging from 1 to 239 per cent over Seplember and all except three showed increases over October of last year. The following were the classes of building which were most active in the October construction record: $137,690,~ 300, or 31 per cent of all construction, for residential buildings; $85,116,400, or 19 per cent, for public works and util- itles; $67,732,600, or 15 per cent, for commercial buildings; and $60,863,700, or 14 per cent, for industrial plants, Last month’s contract total brought the amount of new construction work started in the 37 Eastern States since the first of this year up to $5,046,909,000 as compared with $5724,047,600 for the same period in 1928, a decrease of 12 per cent. New contemplated projects reported during October reached a total of $801,- 806,300, which represents a decided in- Beautify your home with DUPONT TONTINE Window Shades Made to Order at Factory Prices construction, for residential buildings; $8,740,100, or 17 per cent, for commer- cial buildings; $7,161,500, or 14 per cent, for industrial lZNDer c;&ti.d{:r edugl‘lon':! bu‘fldings, % ew and_engineering worl contracts | contracted Tor in this gistrict during the first ten months of this year has reached a total of $608,747,400 against a total of $681,129,200 for the same period of last year. New work reported in contemplation during the past month amounted to $72,835,300 as compared with $45,744,- 200 for the preceding month and $84,- 503,000 for the corresponding month in 1928, During the month of October the New York State Jersey district had Cevy National Mortg. & Inv. Corp. ceding month and a 90 per cent in- crease over October of last year, indi-| cating a favorable prospect for in- creased building in the future. October :gglsl‘orgplamd work amounted to $287,- 1 plants; and $6,089.300, or Speed Toys in Europe. Children in Europe are demanding speed in their toys. Six-year-old Mario Conterio _recently appeared on the streets of Paris on his motor-driven unicycle, Three-year-old Warner Kim- pel, son of a famous German auto racer, has his own electric racing car, and Al- fredo Bonifatti, aged four, drives fhrough the streets of Rome on & tiny, but speedy, motor cycle. an d _Northern New 03, 3922 Livingstone $11,750 = A truly remarkable value in a very desirable section. Situated just west of Connecticut Ave., this attractive semi-detached home contains 4 bed- rooms, 2 baths, open fireplace, mod- ern in every particular and in excel- lent condition. Redecorated throughout since occupancy. There is a beautiful lot nicely landscaped. With garage. Paved Street. You Will Benefit by a Sunday Inspection Open Daily Until 9 P.M. brick construction. They stand on large lot 27 feet wide with terraced lawns and have many desirable features. Six large, cheer- ful rooms and modern tiled bath with shower, covered front %n:h and screened breakfast and sleeping porches, Frigidaire and built« in garage, besides numerous other features. Sixteenth ast te ur New Homes, Ofen and Lighted Until 9 P.M. FLOYD E. DAVIS CO. Realtors 733 12th Street N.W. Natl 0352-0353 Superb Home in Superb Location! —1740 Irving St. N.W.— Open 9 AM, to 9 P.M. Here is a home that Beautiful Architecture 7 Fine Rooms 2 Tiled Baths cannot be duplicated b L Breakfast Porch Sleeping Porch FRIGIDAIRE Big Basement Detached Garage Lanscaped Lot anywhere in Mount Pleasant at the price #13,950 On Convenient Terms Highest Point in Petworth 3RD AND ALLISON ST. HOMES Between Webster and Allison Sts. on Third ATTRACTIVE FEATURES in excess of $100,000,000. Tt is important to note that Washington's industrial progress has been effected with few if any of the objections raised elsewhere smoke-emitting factory. Such structures are hard to ufacturers have preferred to utilize elec- trical energy and to so plan and design tain of our industrial firms plan to erect | Corner Home CHEVY CHASE, D. C EW brick and stucco corner home, with all latest features and interior decorations, large covered concrete veranda, immense closets, tiled bath with shower, builtin garage—in an unexcelled and most convenient location—offered at a very low figure.. Large Landscaped Corner Site $12,25000 OPEN ALL Drive vight from Conn. Ave. on and one-balt blocks (o Nevada Ave DAY SUNDAY tion Street one and bome on left. J. €. Douglass & Co. Realtors 1621 K St. N.W. Metrop. 5678 Ask for Samples and Estimates 1004 Vi. Ave. 830 13th St. N.W. I I District 3324-3325 ' STOKES SAMMONS, w. Proprietor S GTON BUILDING Across the Street From the United States Treasury The Ideal Place for Your Offices Built on Large, ° | Beautifully TS ‘strategic location in the heart of Landscaped Plots Washington’s financial district—its im- Priced pressive appearance—its splendid ar- rangement which offers an abundance of light and fresh air—its excellent service which affords every convenience—makes this mag- nificent building the logical place to make your business headquarters. Spaces ar- ranged and divided to meet your require- ments. Do not delay making an inspection— the ideal space for your purposes may soon be rented. EAVER BRO NC REALTORS 809 15th Street N.W. District 9486 DETACHED AND SEMI-DETACHED ALL BRICK HOMES 6 rooms Tiled baths Reinforced concrete front porches Real open fireplaces Latest wallpaper and electrio fixtures Large closels 3 Cedar lined Charming New Homes Semi-Detached Brick Complete in Every Detail o Open Today and Sunday Till 9 P.M. . Nothing has been left undone to make these homes the finest that can be built for the money. They contain 3307 eight spacious rooms and two baths on first two floors, Wood) Rd with the attic completely finished into 2 rooms and bath, bl making in reality six splendid bedrooms and three baths. ° The homes are modern in every respect, including hot- water heat, electric lights, hardwood floors throughout, $19’750 UNSHINE IN MICHIGAN COMPARE THESE FEA RES TO INSPECT—Drive out either R. I. Ave. to 12th St. N.E., then north on 12th St. to Taylor St., then on Taylor St. to 10th St. to houses. BREUNINGER & PHIFER 1103 Vermont Avenue Nat. 5833 Homes RK First Floor coat closet with full mirror door Specially finished hardwoed floors Outside pantry FRIGIDAIRE Standard plumbing fixtures Brick garage, will hold any car Furred walls Extra large lots; concrete alley Ave. or Michigan North 5800 Main 7713 Road ley Overlooking the Cathedral Close Those familiar with values in the Woodley Road Section will at once recognize this as a most un- usual opportunity. An all-brick detached home Colonial Buff Brick Home 20 Fe. by 32 Ft. 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Breuninger & Sons, since their incef- tion, have insisted that high and unstinted quality . . . new and correct design . . . fair and conservative price « .+« be attributes of every home they feature, it i3 but natural that the ladies and gentlemen of Washington should encounter much of absorbing interest in the presentation of Our Autumn Model Home. Autumn —brings a collection of new decorations . . . carefully and tastefully selected by Breuninger. £ To Reach— Drive out 16th Sé to Alaska Ave., to Morningside Drive —turn left two blocks to this Will Trade for Two Blocks open fireplace, Electric refrigerator, instantaneous hot- water heater, built-in brick cold storage rooms, built-in garage, and many other splendid modern appoint- ments that only an inspection will bring out. . 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