Evening Star Newspaper, January 4, 1930, Page 13

WASHINGTON, CLOTHIERS LEASE SPACE IN WASHINGTON BUILDING Large Part of First Floor and Basement Taken by Parker-Bridget Co. for 21 Years at Rental Totaling $ 1,350,000. Parker-Bridget Co., veteran Washington men’s clothing concern, has signed a new lease for a large space on the first floor and the entire sgflce in the basement floor in the Washington Building, Fifteent! and G streets and New York avenue, it was announced today by Weaver Bros., leasing and management agents for the owners, a Boston syndicate. The term is for 21 years and the rental consideration amounts %o $1,350,000 for the whole period, or averaging about $64,285 an- nually. The signing of the new agreement with the new owners makes possible the location there during this year of the principal store of Parker-Bridget Co. Remodeling of the quarters to suit the purposes of the company will re- quire several months. It is expected about $100,000 will be expended for this work and store equipment. Building Acquired at Auction. Parker-Bridget Co. was one of the first concerns to contract for rental space in the monumental office struc- ture, but the lease became a matter of litigation with the former owners of the building due to misunderstanding and ement over the floor level and other building matters. It is understood that this litigation over the terms and validity of the for- mer lease will be canceled with the signing of the new leasing agreement with the new owners, who acquired the bullding at an auction sale during the past year. Parker-Bridget Co., under the agree- ment, will take over nine stores on the first floor east of the corridor running from New York avenue to G street and basement space under the entire floor, making a total selling space of approxi- mately 25,000 square feet. The first- floor space rented will have a frontage of 75 feet on New York avenue, run- ning approximately 180 feet through to G street, where the frontage will amount to 90 feet. ‘Will Have Two Street Entrances. A large entrance will be made on the New York avenue side, with one of sim- lar proportions on G street, and there will be two entrances to the store from the corridor, where show windows also ‘will be erected. ‘The Parker-Bridget Co. was estab- lished 40 years ago on Seventh street between D and E streets and moved to its present location, at Ninth street and Pennsylvania avenue, 37 years ago. Frank M. Low, president of the con- cern, handled leasing arrangements ‘with Weaver Bros. WASHINGTON HAS PROSPERITY PERIOD Chain Store Age Finds National | Capital Fastest Growing City in Country. Washington is enjo; iod of prosperity enhanced by:n.l ;ryse.goo.o:o building program, Store Age declares in iis annual of national real estate activities. " In- formation on conditions in Washington was supplied by Carl G. Rosinski and ‘Weaver Bros., Inc. Business is good and the city is not subject to xlux:‘pl, the survey says, that with a population gain of something over 3 per cent yearly, ‘Washington is the fastest growing city in the country. “Was] 's business section is cally devoid of vacancies, there none vacant in a 100 per cent section. Failures have been very few and prosperity is being enjoyed gen- erally. One F street orflnlntlon showed during the month of October an increase of 125 per cent over the previous October.” ‘The Federal Government's appro- tion of $175,000,000 for new build- ings, Store Age continues, means | unlimited employment for labor and | continued prosperity for Washington spread over a period of 10 years. To the 70,000 G?vernmnt employes lllmv participating in an annual pay roll of $120,000,000 are being added 10,000 ru‘mj to compute the census, bring- to Washington an additional pa; roll for two or three years. - CONSTRUCTION INDUSTRY EXPENSES LESS IN 1929 Outlook for 1930 Considered Bright in Report of Guarantry Trust Co. ‘The construction industry is one of the comparatively few branches of American business that reported ma- terially reduced rates of operation dury ing the past year, and it is one of the few that enters 1930 with a_ definitely improved outlook, the December survey report of the Gueranty Trust Co. of New York states. Commenting on reports of the F. W. Dodge Corporation, showing a loss of 12 per cent in the value of contracts let during the first 11 months of 1929, as compared with the same period of 1928, the Guaranty report continues: “The principal reason for the mark- ed decline from last year's level was the very sharp decrease in residential building, which had apparently been overdone in many parts of the country during the few years immediately pre- ceding. Both this and other types of construction were seriously hampered by the advance in money rates accom- panying the speculative boom in the stock market. “The optimism that prevails with regard to the outlook for 1930 is based chiefly on the marked easing of money rates and the prospect of more abun- dant funds at the disposal of the in- BUILDING OUTLOOK BRIGHT THIS YEAR Survey Indicates U. S. Will Spend $9,000,000,000 in Construction. The 1930 construction requirements of the United States total nearly $9,- 000,000,000 according to statistics just compiled by & national building ma- terial research association in its annual building survey. Although building during 1929 fell below the average of the past five years, there are many factors which point to increased activity for 1930, the associ- ation says. “There are so many variable factors which partially control the construction industry that all statistical estimates must be considered in connection with careful judgment of intangible points,” the statement continues. “Fundamentally, building depends upon the increase and distribution cf population ana the standard of living. Other conditions affecting building may be traced to these. As long as our population continues to grow and our standards of living to improve, no more than temporary recessions of building activity need be anticipated. Construction Depends-on Population. “Currently, our population is increas- ing at the rate of about 1,650,000 per- sons per year. In addition to housings and other accommodations for these people, construction must be provided for population movements, such as shifts from farms to cities and from citfes to suburbs. It is estimated that 4,000,000 persons moved from farms to citles since 1910. “Half a billion dollars must be spent annually to replace buildings destroyed by fire and storm. “Bul of all types wear out, or become obsolete. By far the larges! part of all structures at present fall in a group which shows a weighted aver- age economic life of about 40 years. ‘Thus two and one-half per cent of the f | value of such structures will be used up during 1930 and should be replaced. “In addition, current wear and tear of buildings expressed in alteration and repair jobs set another huge demand to be met annually by the construction industry. Repair Cost Decreasing. “It is interesting to mnote that per capita annual expenditures for repairs are decreasing, according to the Depart- ment of Labor. Better and more dur- able materials of construction now be- coming generally used will, without doubt, increase the average life of structures in the futufe. “As our standards of living increase, desire is set up for better and newer structures. Many bulldings are aban- doned as cbsolete or razed, while still physically serviceable, in favor of im- proved design and equipment. The productivity and success of other indus- tries reflects itself in construction, as does the extension of public works, with the advance of our civilization. “Recent organized modernizing move- ments promise a hitherto relatively un- developed bullding market for the next few years. “IC’ is generally belleved by leaders in the industry that the recent break in the stock market will benefit con- struction. Large sums which have been unavailable for investment in bufldlnfi projects have been released and will contribute to an increased pro- gram. Banking Houses Seem Sound. “The financial institutions of the country appear to be sound and ready to supply funds for large Pm)ecu, ‘while mortgage bankers, building and loan associations and insurance companies are stimulating residential and other small units of construction. “The Federal income tax has been reduced and the Reserve Board has lowered the rediscount rate. “The industrial leaders of the coun- try have promised President Hoover that they will carry out great programs of construction and expansion. “Rallroads and public utilities have likewise planned support. “State governments, as well as the Federal Government, are to carry for- ward the construction of public works on a scale never before known. “It is felt that the gl;:nclpul cause of the slight decline in bullding during 1929, viz, hard money. has been re- moved by the stock deflation and that 1930 bullding should re-establish a rec- ord by meeting the years require- ments.” Gen. Everson Buys Home. | Maj. Gen. William G. Everson, U. 8. | A., chief of Militia, has purchased the |dwelling at 1608 Forty-fourth street, Foxhall Village, it is reported by Boss & Phelps, the developers. The house D. C, New Residence Example of Early American Architecture. PROJECTING GABLE IMPROVES LINES Inclosed ‘Rear Garden, of Diflering Levels, Leads From Terrace. An example of early American archi- tectural style in modern composition, which is designated more specifically as a New England farm house style, is seen in the new residence erected for Mr. and Mrs. Harold K. Philips on Rock Spring Drive in the Country Club Hills section of Arlington County, fac- ing the Washington Golf and Country Club. The house was erected by the Brum- back Realty Co. from plans by A. F. ‘Thelander, and has picturesque features typical of its style. The exterior of the dwelling is of frame construction, with wide clap- board employed. The long, open porch in the front affords a wide view of-the grounds and the golf course of the neighboring property. Adds Interest to Lines. The projecting gable, which has a uwnd-;’wr’y overhang, adds interest to the lines of the house and also provid opportunity to make the master bed room virtually a “sleeping porch,” with windows on three sides. The house is entered by a door from the front porch giving onto a central stair hall which extends to the rear wall of the dwelling, where there is a door opening upon a flagstone terrace at the rear. From this terrace there are steps leading down into an old- fashioned rear garden inclosed by stone walls and having different levels. The living room, to the right of the main hall, is two steps below the hall level. This room has a wood-paneled mantel, early American trim and pa- pered walls. On one side of a fireplace in the living room are French doors opening into a pine-paneled library. which is of a type with exposed rafters. ‘The library has a corner fireplace, win- dow seats and bookshelves built into the paneling. Built-in China Closets. ‘The library and small side terrace are built over the garage in the one- story wing. The dining room, breakfast room and kitchen are on the left side of the stair hall. The dining room is wall paper and built-in corner china closets, The kitchen is furnished with modern equipment. ‘The second floor has four bed rooms and two baths. ‘The dwelling is located on an. acre tract, which is inclosed with a white picket fence, typical of the New Eng- land farm house style. +|BUILDING SITUATION EXPECTED TO IMPROVE | Report of Standard Statistics Co. Indicates Downward Trend Will Be Checked. ‘The building industry of the country probably will be more favorably situ- during 1930, the Standard Sta- tistics Co. of New York states on the basis of a current survey. “Prospects are that the building con- struction industry will check its down- ward trend within the next few months. Moderate recovery in the housing di- vision seems probable, reflecting the lowered costs of credit, improvement in the mortgage money situation, and a sizable reduction, at least, of the pres- ent excess supply of residences,” the survey report states. “Advancement is expeected also in the public works and utilities and_the public buildings divisions, as a result of President Hoover's stabilization pro- gram. These are the divisions in which greatest stimulation is practicable— the ones which should be helped most by the Hoover program. “Activity will be fairly well main- tained in the other two major classifi- cations—commercial and industrial. In the aggregate, therefore, a slight uptrend, as compared with 1929 is fore- cast for 1930, t this rrobflzly will not become apparent before the sec- ond or third quarter.” NAMED ON COMMITTEE. Ohioan to Participate in National Business Survey. Harry S. Kissell, Springfield, Ohio, first vice president of the National As- sociation of Real Estate Boards, has been named a member of the business survey committee recently appointed by Julius H. Barnes, chairman of the National Business Survey Conference held in Washington recently by the Chamber of Commerce of the United States at the request of President Hoover. ‘The committee to which Mr. Kissell has been appointed is composed of 140 executives who will provide, when needed, comprehensive information as to the status of American business. The committee was created at the instance of President Hoover. Middleton Buys Residence. F. E. Middleton has purchased the detached dwelling at 12 West Virginia street, Chevy Chase, Md., through the agency of Boss & Phelps. The house |is of the center-hall plan, and contains six rooms. The property is landscaped. he of early American design with Colonial| Ty ening Stap, SUNDAY MORNTNG EDITION | | | | SATURDAY, JAN ARY 4, 1930. HOME & GARDEN| B-—1 | Home of Mr. and Mrs. H. K. Philips, Rock Spring Drive, Arlington County. CENSUS T0 REFLECT .S, LAND WEALTH Real Estate Dealers Expect Billions to Be Added to 1922 Figure. ‘The new census to be taken this year will release the first figure on property values for the Nation as a whole since 1922, Real estate interests, therefore, are looking forward to the results of the decennial compilation of the Na- tion's wealth and are predicting that many billions of dollars will be added to the 1922 figure, the National Associa- tion of Real Estate Boards reports. 1922 was computed to be $320,803,862,- 00. If the impartial survey of the Gov- ernment shows the tremendous realty appreciation in value expected by real argument for the advisability of in- vestment in land, the realtor bulletin declares. Appraisal of the actual value of the lands and buildings is admittedly a dif- ficult thing, according to the associa- tion. which says: “Census officials in 1922 did not an- nounce their figures on property values as final, approved and hard and fast ones. In a foreword to the report, Dr. Willford I. King of the National Bu- reau of Economic Research, who as- sisted in planning the methods for com- pilation, admits that the reported values for real estate might be too low.” The wealth of the country increased from $186.299,664,000 in 1912 to $320.- 803.862,000 at the close of 1922, a rise of 72.2 per cent. the dollar diminished greatly during this decade, Dr. King roughly estimates that the actual increase of physical wealth was about 11 per cent. During the years from 1912 to 1922 the value of real property and improve- ments, both taxed and tax-exempt, in- creased from $109,236,926,000 in 1912 to $176.414.444,000 in 1922, an addition of $67,177,518,000. C. L. Truax Buys Dwelling. Charles E. Truax has purchased the detached brick and frame dwelling of center-hall type at 3629 Legation street. The property was acquired from M.B. Swanson through the agency of Boss & Phelps. The house contains six rooms and two baths. g In adding pictures to the walls, books to the shelves, covers to the tables, and s0 forth, remember that simplicity is the keynote of the Colonial. T T S N RIS CHEVY CHASE, D. C. Brand New Detached Brick Homes K3 o 4305 Jenifer Street (Between Conn. and Wis. Aves.) Colonial design, 6 rooms, den, tile bath with shower, open fireplace, oak floors, am.i. and garage. $10,500 OPEN SUNDAY Reached -ia either Comn. to Jenifer St. or Wis. Ave. . Sansbury AL, SEPpANY Ine 1418 Eye Realtors Natl 5903 estate interests, this will make a new | But as the value of | REALTY COMPANY TAKES 3 EMPLOYES INTO FIRM Sumson, Boyd and Miss H. L. Yost Become Members of Jarrell Firm. Three employes of the real estate firm | of Thomas E. Jarrell Co. were elected members of the firm at the annual meeting of the organization, it was an- nounced today. They are Richard D. Stimson, who was elected vice president in charge of sales; Ralph C. Boyd, vice president in charge of insurance, and Miss H. L. Yost, secretary. Mr. Stimson has been associated with the Jarrell company for more than four years, specializing in sales and pur- chases. He is a graduate of the United States Naval Academy, and is secre- tary of the sales managers’ section of the Washington Real Estate Board. Mr. Boyd has been with the firm for more than eight years, and received his The national wealth at the close of | {faining at McKinley High School of this city. e WINTE_R FEAR MUST END. Superstitious Seasonal Lay-offs Hit by Architect. Elimination of seasonal lay-offs caused by superstitious fear of Winter building is necessary to maintaln per- manently the purchasing power and economic stability of the Nation, Rob- ert D. Kohn, architect and president of the New York Building Congress, de- clares in a statement issued by the American Institute of Architects. Improved construction methods haye made building operations practicable under the severest weather conditions, Mr. Kohn says. The savings which be expected in Winter building programs, he asserted, outweigh in great measure the additional cost for protection to men and materials, HUYLER BUILDING * BENGTORN DOWN Landmark at Twelfth and F | Will Be Replaced by Mod- ern Structure. The Huyler's Building, on the north- east corner of Twelfth and F streets, is being torn down to make way for a new two-story brick structure to be oc- cupied by a Peoples drug store. ‘Work of razing the old four-story brick structure was started this week and thus Washington is witnessing the passing of another of its prominent | landmarks. The corner property was leased by the Peoples drug organization last August for a term of 28 years at a total rental | of approximately $930,000, it was re- ported at the time of the closing of negotiations with H. Clifford Bangs, who acted in the transaction. The property is owned by the Boston Ground Rent Trust, which acquired the site in 1924. The corner building was leased by Huyler's from 1896 to 1924 for $7,500 a year. From 1924 to 1929 the annual rental was approximately $24,000. The new agreement provides a rising scale of rents in succeeding pe- riods in the total leasing term, the higl est being $30,000 a year. Tewkesbury Street Home Sold. ‘Willlam C. Lakin has purchased the semi-detached brick dwelling at 604 ‘Tewkesbury -street, a two-story semi- detached brick house, containing six rooms. The property was acquired from the Wardman Construction Co. through the agency of Boss & Phelps. West of Kalorama -Across Rock Creek. Mass. Ave. entrance at 30™ St. One Square east of New British Embassy The National Cathedral on west Sites for Individual Homes Priced from ‘150 per sq.ft. up Within 2 miles of White House Location and contours can never be dublicated in heart of Prices and Data K35 K st. Washington again- fi’:nn_gm;g in- Nagess Cenlr-Ha]l Brick Home | first bank building in the District base course and architrave about granite. BULDING PERHT TOTAL STR36 1$45,000 Church Included in Week’s List of Private Construction. Private building operations in the District having a total estimated cost of $136,955 were approved during the past week by Col. John W. Oehmann, build- ing inspector. Included in the list of new work were plans for five dwellings, one to cost $45,000, and for a church }mfldln(. Permits were issued as fol- lows: Malcolm S. McConihe, owner; George N. Ray, architect; Moran McConihe, builder; to erect one four-story brick dwelling, 10 Thompson Circle (lot 16, square 2124); to,cost $45, Rev. Joseph Rizzo, owner; E. W. Syme designer; A. Fernandez & Co., builders; to erect one two-story brick and stone church building, 507 L street northeast (lots 808, 29 and 30, square 830) ; to cost $35,000. Frank D. Phillips, owner, designer and builder; to erect three two-story brick, tile and frame dwellings, 5357 and 5361 Broad Branch road and 3232 Mili- tary road (lots 14 and 15, square 2026 to_cost $20,000. Merchants Transfer & Storage Co., owners; James H. Grant, architect; Skinker & Garrett, builders; to erect one one-story brick garage, Third and Canal streets southwest (lot 5, square 577); to cost $12,000. Dr. Daniel B. Moffett, owner; Morri- son Brothers, builders; to erect one two- story brick and frame addition, 3900 ‘Tunlaw road (lot 811, square 1301); to cost $10,000. F. Barnes, owner; A. Jeffery, designer and builder; erect one two-story | frame dwelling, 1309 Otis street north- east (lot 26, square 3965) ; to cost $7,000. ‘Washington Loan & Trust Co., own- ers; Arthur B. Heaton, architect; Fug Drew Co., Inc. ilders; to make re- pairs to vault, 900 F street (lots 831 and 832, square 377); to cost $1,755. Carlin & Clendaniel, owners and builders; George T. Santmyers, archi- tect; to erect one one-story brick ads tion, 3232 Rittenhouse street (lot 73, | square 2021); to cost $1,500. BRANCH BANK IS PLANNED ALONG MODERNISTIC LINES Washington Mechanics’ Savings Structure, to Be Erected on Connecticut Avenue, Will Be First of That Design in District. The new branch office of the Washington Mechanics Savln‘s Bank to be erected on Connecticut avenue between Newark and | Macomb streets, will be of modernistic architectural style and the in this kind of design. The exterior of the building, as designed by Maj. George Oakley Totten, jr., local architect, will be of light-colored sandstone, the the main entrance to be of pink | The grilles of the entrance doors and the large window on the front also will be in modern style, executed in wrought iron. ‘The building will be 24 feet wide and 86 feet deep. The banking room, 21 feet high, will be in the front portian of the building. In the rear will be tie safe deposit department, the offices the bank executives and directors’ Another unusual feature will be pi vision for the parking of the ca patrons. The bank owns a large si and parking space is provided adjoining the building. = John P. F. White, builder and one of | the directors of the bank, will construset | the building. The main offices of the | banck are at Eighth and G streets south= east. 4 TWO OLD RESIDENCES |ARE BEING TORN DOWN Business Structure to neplli Palatial K Street E Homes, Two large old residences of raf palatial proportions, standing at 15 1531 K street, west of the Investment Building, are being razed to make Wiy for a two or three story business strus- ture for rental purposes. The property is zoned for first commercial use, with 110-foot height limit. z of 45 feet andZa It has a fronf depth of 146 feet. Negotiations for tlie new building were handled through the office of H. L. Rust Co. APPRAISING IS SUBJECT,' H | Series of Conferences Instituted Real Estate Board. z In order to make more widesprefd the best procedure for real estate praising, the National Association ®f Real Estate Boards has recently insfix tuted a series of conferences on ap - ing, bringing - directly to individi members of constituent boards of assoclation the latest and best informs- tion available on the subject of réal estate valuation. z Such conferences, now available any member board of the association, have already been held for boa: throughout the States of New Y Pennsylvania and and wilk! held for California immediately following the association’s Midwinter ge;;lnz in Phoenix, Ariz, January 33 Crittenden and — $12 ated. Its many special Sunday, An 1 4718 15th Street N.W. Between Decatur Streets A Colonial Brick 4-Bedroom, 2-Bath Home 500 — An unusually large seven room, 2 bath resi- dence that is attractively and conveniently situ- conveniences and added features will afford the fortunate purchaser an ex- ceptionally comfortable home at a minimum price. Liberal terms can be arranged. Ofen for Inspection 1t 6 Invitation . . . To Visit a Completely Furnished Home at 1630 Allison St. N.W. This home is priced fully $2,000.00 less than its real value dustry. The expansion programs an- nounced by industrial and public utility executives in their conferences with administration leaders at Washington also have a particularly direct bearing | = the near-term future of construc- tion. “On the other hand, lenders of mort- gage money are reported to be ex- ||| tremely conservative and apparently fear that building, particularly in some | sections, been overdone. This | | situation is expected to prevent any ||| great increase in speculative building || for some time.’ HE family which is interested in a well- built home of unusual character in & restricte ed, high class com. munity should see and compare the value of tl house with those submitted by others. The home is beautifully furnished and is open for your inspection Sunday and every day from 10 AM. to 9 P.M. #* contains a reproduction of the King John arch in Coinbrook and six bed! rooms, one a studio room. Overlooking the National Cathedral —*18,950— Wide center entrance hall, large living and dining rooms, 4 bedrooms, maid’s room and bath, large concrete living New. .. Detached . . . Brick 9,750 1521 Otis Street N.E. 8 Rooms and a Garage INSPECT 1213 Trinidad Ave. N.E. and Save $750.00 Open Sunday from 210 5 PM. You will appreciate the re- markable value being offered in this practically new home. Newly decorated throughout, this six- room colonial brick, with hard- wood floors, natural trim, tile bath, three porches (two rear porches inclosed), built-in ga- rage, paved street and alley, is actually less than This_attractive corner property is offered by a naval officer who has left the city perma- nently. The grounds have a combined frontage of 192 feet porch, two-car built- on two improved streets. and all conveniences. Every Room Having Southern Exposure 3311 CATHEDRAL AVENUE Corner 34th Street Close proximity to the Cathedral, New British Embassy, Wardman Park Hotel, John Eaton School and Mass. Avenue Open All Day Sunday Schwab, Valk & Canby 1704 Connecticut Ave, Potomac 0830 1t is like new in every respect and is decorated throughout. It has 9 rooms; 5 bedrooms, 2 baths, built-in garage, most modern gas type heating plant, and screened. Never before have we been able to offer such outstanding value in fine homes. NEW, fully detached (rick containing eight bright sunny rooms and every modern appointment including natural trim and hardwood floors throughout. Our suggestion to you is to come out Sunday if you want one of these bargains, or better yet, come Saturday evening. OPEN ALL DAY SUNDAY and evenings HOOKER & JACOB Nat. Press Bldg. Metropolitan 2663 Stockholm Has Boom. ‘The city of Stockholm, Sweden, is| in the midst of an unprecedented building boom, involving the erection of all types of structures, | Adams Street House Sold. A. Van Wooten has purchased from || Marie A. Redman the Colonial style || dwelling at 210 Adams street northeast, | || Boss & Phelps report. (1 Furniture . D. S. Pool being offered for $750 it recently sold for. Located in & community of new homes, convenient to schools, stores and bus line. Will make terms to suit reliable purchaser. Inspect today or call Nat'l 2100 for particulars, 211 Investment Bldg. Washington's Oldest Established for a letter to go from Moscow, Rus: 6.3, to Urga, Mongolia.