Evening Star Newspaper, June 21, 1930, Page 20

B4 REAL ESTATE. NEW DEVELOPMENT PLANS ANNOUNCED THE EVENING STAR, AREA ADJOINING COLUMBIA CLUB TO BE DEVELOPED WASHINGTON , D. C, IREAL ESTATE BOND TROUBLES AVOIDED SATURDAY, JUNE 21, 1930. curities might well be applied in the underwriting of real estate bond issues. It is true in the real estate field, as any other, that the only safe thing to rely on to meet interest and principal pay- ments is earnings. Percentage of valu- tion is important, but in the final analysis it is income that counts. Also experience indicates that a wider use | should be made of the sinking fund principle. ‘Trouble comes to all classes of securi- REAL ESTATE, FARM REALTY QUESTION IS CONVENTION SUBJECT Dr. Jesness to Discuss Peculiar Problems Along This Line at Meeting in Toronto. Just what size farm is a money- nomics of the United States Depart- ment of Agriculture and is the suthor of “The Co-operative Marketing of | Farm Products” and various other pro- fessional bulletins and articles. He will give the division members definite prac- | tical standards for judging and advising | clients on how large farms should be in | various localities in order to be profit- | able. Extension of Greater Capital Area Continues With Warren BOOTLEGGERS SUSPECTED BRIDGEBURG, Ontario, June 21 (. |-—A theory that Jeremiah Sullivan, More Scientific Underwriting ties. Real estates are now coming in for | making business in this day and age? | ‘Yh!" share because of (‘l\'el’bflfl!t condl-Ishould lh; farmer I-:(} :u‘noc ,m?lnx i tions, the general business situation,/a profit buy some oining land er MethOds To'd at Banklng uncmployme%t_ declining rents, tl.hl-‘lxhould he sell some of his own acre- Convention hess of mortgage money and declining | age and operate on & smaller scale? Project, Meadowbrook. Greater Washington, with its ever expanding residential areas, is reach- tog farther into sections once consid- | ered distant from the center of the ! city and into what formerly was purely | country club sections. Plans announced today for the development of another new tract will partially surround the Columbia Country Club. This s another indication of the growth of Washington beyond its po- litical boundaries which restrict the taxable area of the District of Colum- bia but whick have proved no bar to the expansion of the growing me- tropolis. Columbia Country Club, located on | Connecticut avenue north of the new East-West highway from Bethesda to Silver Spring, was established there 20 years ago when that section was largel; undeveloped and removed from the tablished residential sections of Wash- | ington. Montgomery Census Gain. Twenty years, however, is a long | time in the growth of this city, | Only yesterday the announcement of the census figures for Montgomery County areas. made public by George Muyers, supervisor for the second Mary- land district, showed an increase of 14.158 over the 1920 census report, when the county’s population stood at 34,498, ‘The new statistics show that the Bethesda district has a population of 11,186 as compared with 4,757, this be- ing the largest percentage of increase in the country. In this district is the Columbia Country Club, which thus seems destined to experience the same change that came upon other goif clubs, notably the Chevy Chase Club, once located in comparativaly undevel- oped sections which in time were reached and passed by housing devel- opments. M. & R. B. Warren Project. The new development, to be known #s Meadowbrook, is the project of M. & R. B. Warren, local operative build- ers, who today announced plans for the construction of the first of 58 houses to be erected in the southern end of the tract. The property to be developed con- #ists of 70 acres of land, mostly heavily forested, which comprised the old Laird and Watkins estates in section 4 of Chevy Chase. The tract adjoins the golf course and grounds of the Co- lumbia_club. The houses are to be planned in a variety of designs, with Colonial and English motifs predominating. All are o be of the detached style. On each lot from which trees are removed be- cause of necessary grading, new trees will be planted, it is announced. David J. Howell & Son is the firm selected for the engineering of the project and Parks & Baxter have been engaged as the architects. Landscap- ing will be under the direction of John H. Small, 3d. BOOKS WHICH BELITTLE SOLDIERS CONDEMNED Field Marshal Milne, in London Address, Blames Writers for Commercialism. By the Associated Press. LONDON, June 21 —A certain type of war books and of war plays was severely condemned yesterday by Field Marshal Sir George Milne, addressing the annual dinner of British officers who served at Salonika during part of the war. > “We are cursed now by a flood of dis- reputable literature and things called r plays,” declared the field marshal, “and as far as I can see most of these Tepresent every soldier as either a drunkard or a coward. ““These things are perpetuated by peo- ple, who in most cases, did precious little durmfi the war and they do it for noth- ing else than to fill their pockets. They are quite prepared to blackguard men who went out to fight and even to blackguard the women who went out to help in the fight if they achieve that one object of enriching themselves.” GREAT FRANKLIN MUSEUM BEGUN IN PHILADELPHIA $5,000,000 Memorial Building Will Cover 8 Acres and House Na- tional Progress Exhibits. By the Associated Press. PHILADELPHIA, June 21.—A great memorial is to be erected here in honor ©f Benjamin Franklin, More than $5,000,000 for the purpose has been raised by public subscription, and ground was broken Wednesday for the building, which will occupy nearly three acres on the Parkway, leased from the city for 99 years at $1 a year. The structure will house many evidences of Franklin's greatness, and exhibits of the progress of the Nation in mechanica: arts and sciences. It will be modeled after the great Deutsches Museum, at Munich. Money for the memorial was raised in 10 days by a committes head-d by Cyrus H. K. Curtis, who turned the first shovel of 1- rth at the ground-breaking ex- ercises. THREE GRADUATES DROWN AT OUTING OF CLASS Eeven Other Persons Rescued When Boat Overturns on Lake in Vermont. By the Associated Press. SALISBURY, Vt., June 321.—Two girls and a boy, members of the grad- uating class of Brancon Public Gram- mar School, drowned in Lake Dunmore here yesterday at the height of an out- ing given the class, which had been graduated Thursday night. Six other children and a mother of one of the victims were rescued after a motor boat overturned. The victims were Edward Shepard, Fern Whittemore and Lillian Hayes. COMPLETELY FURNISHED MODEL HOME At WYNNEWOOD PARK Is Open Sunday, 10 AM. to 9 P.M. and Every Evening To Reach— Motor out 18th Street to the Distri line, turn right on newly comple into bouievard which _exten: Colesville and the h THOS. E. -JARRELL CO. Realtors 721 10th Street N.W. Mational 0765 BY KENNETH R. BOYNTON, Head Gardener, New York Botanical Garden. | Places not roomy enough for pines, | spruces and firs can accommodate small or dwarf evergreens. Plants used in such manner are becoming increas- ingly familiar to suburban dwellers through their use in foundation plant- ings. But in the smaller cities, where the need for more Winter color is greatest, there are few plants of such | types and pretentious plantings in | groups are rarely seen. | an example consider the most beautiful of dwarf evergreens, the dwarf Japanese yew. From seed and from cuttings many thousand plants are | grown each year, but these attractive | evergreens are seldom noticed except | in the big estates and in foundation plantings around suburban homes. The | dwarf Japanese yew is noted for the | deep, warm green which the thousands | ot short leaves give to its spreading, rugged branches. As plants become older they spread out, but never get so tall that all of the plant is visible in ‘Winter from a house view. The short view of columnar shape, so desirable in making variation from the outlines of flatter plants, has been sought for many years by nurserymen. The beautiful Irish yew, which has furnished popular upright evergreens for milder climates than ours, has not proved hardy here. There are some to be found in gardens, but one cannot plant them in quantity with any cer- tainty that they will thrive and main. tain a uniform shape and rate of growth so necessary for most formai plantings. Originates Yew Strain. Henry Hicks, Long Island horticul- turist, has originated a strain of the Japanese yew which is hardy, upright and of a rich green. The use of Hicks' yew enables us to make Winter color plantations entirely of yew, using dwarf Japanese for the flat and the Hicks for the erect effects. The procumbens and repandens varieties of the English yew are soft in outline and foll and adapted to a limited ce, and are somewhat hardier than other forms of that species, generally too tender in our climate. They are happy in any ‘Winter greenery group. Junipers are most useful evergreens. They are certainly hardy. Almost every | shape of small evergreen, in almost every shade of foliage, can be had by using junipers. One of the most satis- | factory from every standpoint for the small garden is the Pfitzer juniper. The low, spreading branches are clothed with bluish-green foliage which never seems to burn or to Winterkill. The ap- pearance of the plant is always good and it grows as rapidly as any other. Next to the dwarf Japanese yew this is perhaps the best dwarf evergreen, There are places for thousands of them | in every community. For those who | prefer lower and more slender varieties the creeping juniper, an American species of low trailing habit, is fine for planting in rocks or as a covering for banks and terraces. The prostrate | juniper, with dense branches of follage | which color up in Winter, is also used for such places. This also is good for rockeries, for banks and for planting in front of low evergreens or shrubs as an edging. If near lawns, care must be taken to cut grass carefully under the spreading branches so as not to in- Jure the growing tips. Upright Junipers Numerous. Upright forms of the junipers are numerous. The silver red cedar, which is a glaucous variety of our nafive red cedar juniper, is widely used for a cent. The habit is narrow and colum- nar, the foliage a rich blue-green, It | is hardier and free from attacks of the | red spider. Other upright varieties of | the native juniper are the cannart and | the Schott red cedars. These are nar- | Tow, more pyramidal, and both green as | contrasted with the blue of the silver Ted eedar. | The Chinese juniper s rather ragged | in our climate. The Irish juniper is strictly upright and formal, but not hardy enough o warrant general plant- | ing. The dwarf Swedish juniper is | compact and almost round, small enough to be used in Winter window boxes or in rockeries and foundation edges. Where a rugged bluish green ground cover is wanted the squamata juniper is a favorite. This reaches out long stiff branches. One plant event- urlly will cover a patch of poor grass or rocky ground. Arbor-vitae is one of the older culti- vated evergreens. Native species in 16th STREET HEIGHTS Overlooking Park 1415 Holly Street 6-room colonial brick, 2 baths, 2-car garage, large kitchen with breakfast 54-ft. lot. Good attic. Porch, front and side. pice, $15,950 Open 10 A.M. to 10 P.M. room. W. C. Kremkau started the construction of 58 detached houses. | | Stately Trees. | original form may be seen planted near | old homesteads. It is hardly more du- | rable, but inferior for small gardens to | the nursery forms with compact shapes, heavier foliage and richer colors. There are now being planted many of the | dwarf forms of this arbor-vitae, espe- | clally the compact, globular kinds. At this time of year many young plants are used In window boxes, where the green and gold tints help to brighten up windows of city hotels and apart- ments. Convenient and Hardy. 1 Such varieties as globosa, globosa aurea and little gem are hardy, con- | venient for planting and transplanting in temporary beds; neat plants for | alternating with spreading yews or | junipers ‘and erect, upright accent | plants of these. Other dwarf arbor- | vitaes are Rosenthal’s, and nana, com- | pact and dwarf but not globular. These | are useful in foundation plantings to | ary the lines. One of the finest of all | evergreen trees is the Japanese or | Standish arbor-vitae. The clean, lacy, | yellowish-green foliage, compact py- | ramidal shape and nardiness combine to make it a specimen or plantation | tree, to be planted in every garden. The retinisporas, which are commonl, called the Sawara cypress, and the Hi oki cypress, are available in forms suit- able for and hardy in the small garden. | Particularly useful are the yellow and | golden forms of the Sawara cypress, both in weeping and upright shapes. Of the Hinoki cypress, the compact and cxtremely dwarf forms are most planf ed. For protected locations one y | | Bird's-eye view showing the 70-acre section, to be known as Meadowbrook, adjoining the golf course and grounds of the Columbia Country Club, on Connecticut avenue north of the East-West highway, where M. & R. B. Warren have The arca to be developed is the heavily wooded section beyond the club, seen in the foreground, and the smaller section to the left of the highway, now being graded to conform to the road | level and later to be landscaped. PLANTS FOR PRETTY SUBURBS Small or Dwarf Evergreens Serve Admirably Where Space | | Is Lacking for have varieties of the Lawson cypress or retinispora from the Pacific Northwest. Our own Eastern retinispora is the white cedar from New Jersey and Long Island swamps. This thrives in wet places, but does not do well in ordi- nary garden soil. WRONG MVAN ‘PUT ON SPOT’ Indiana Merchant, Mistaken for Another, Dangerously Wounded. HAMMOND, Ind., June 21 (#).—The shooting on & busy corner of -Indiana Harbor yesterday. police are convinced, was a case of the wrong man being “put on the spot.” The mistake may cost John Alban, & merchant, his life. Standing near Alban was an Indiana Harbor gambler who, police declare, was the man marked for assassina tion. A hired killer, however, misun- derstood the identification of his em- ployers, driving by in an automobile, and fired at Alban. Alban in the abdomen, wounding him so serlously that he may die. The gunman escaped. 8 9 FOR LEASE DRUG STORE and CAFE Located in a Desirable Residential Northwest Section For Particulars, Apply SWARTZELL, RHEEM & HENSEY CO. 727 15th ST. N.W. 6 West Aspen Street Chevy Chase, Md. 14,850 Charming Colonial House, containing 6 large rooms, 2 baths and sleeping porch, 2-car garage. Beautiful lot 70x120 ft. Open every day until dark To Inspect— Drive north on Connecticut Ave. to Aspen St. . Turn left to house. For Sale by G. F. MIKKELSON & SON 200 W. Thornapple St., Chevy Chase, Md. Phone Wisc. 4255 3231 Quesada St., Chevy Chase, D. C. This new Colonial home on deep lot facing south is offered at an Located near new school astoundingly low price. and transportation. The 6 rooms are spacious ‘and well arranged and the 2 TILED BATHS and kitchen are most modernly equipped: the workmanship is unex- celled. A VISIT TO THIS HOME WILL CON- VINCE YOU THAT YOUR SEARCH FOR A HOME IS ENDED. ‘0_reach—Going out Conn rcle cn Western Ave. one shori square to Quesada, over 7 Chase Ci Ave.. turn_right from Chery Quesada St. 3 squares to property. OPEN ALL DAY SUNDAY Bl B Jowes 82 Co., Ine. Chevy Chase Properties 5520 Conn. Ave. Cleve. 2300 A bullet struck ! Special Dispatch to The, Star. DENVER, Colo, June 21.—Troubles now existing in the real estate bond by more scientific underwriting methods, Ivan D. Carson, assistant sales man- ager, Greenebaum Sons’ Investment Co., Chicago, told the investment banking conference at the convention of the institute of banking section, American Bankers' Association, here this week. He recommended a larger application of the principles employed in general corporate security underwriting to the issuance of real estate bonds. . “Financing of building activities merits the serious study of our best financial minds,” he said. “We have passed through a great building boom, contributing in no small way to pros- perity. During this period real estate bonds came to be something to be reck- oned with in the underwriting and dis- tribution of investment securities. Real estate mortgages have always occupled first place in the consideration of the investor. Perhaps too much of this feeling has been carried over into real estate bond financing, and may have caused both underwriter and investor to become somewhat tareless. “More of the principles applied in the underwriting of general corporate se- 932 Investment Bldfl. English 107 Oxford Street better than a new house three bedrooms, 2 baths. above. Met. 2827 fleld might have been largely avoided P! 6200 UTAH AVENUE N.W. Lot 60x124, fronting two streets—8 rooms and bath—large front and side porch. Built-in garage. Will Be Sold at Very Low Price on Easy Terms Open—Inspect Sunday A. S. GARDINER This most unusual and artistic home, Jocated just one block east of the Chevy Chase Club, has been thoroughly reconditioned and is really Individually planned and built for a home; has attractive living room, stone fireplace, lovely dining room, large breakfast room or sun porch and kitchen on first fioor. Equipped with oil burner, frigidaire situated on well planted site 62x147 with two-car garage, play room Price $18.750 F. ELIOT MIDDLETON Realtor incomes from properties. Unusually | heavy serial payments have in some in- | stances thrown issues into default. A | more scientific treatment of underwrit-| ing problems in certain instances might | | have gone far toward relieving the! sent situation. ‘Underwriters of real estate issues will do well to provide themselves with ! the mechanics for a more careful super- | vision of the properties underlying their securities. They should obtain monthly ! reports and audited statements, and carefully analyze them for trends of | earnings and operation. Coming events can be detected, providing a careful | watch is maintained. The indenture should provide that the underwriter can step Into active management of the property if payments are not made as required. This businesslike procedure, | it followed rigidly, will safeguard the underwriting house and its clients from troublesome situations. | “Real estate security, because of in- herent stability and wide utility, has better chances of working out of trouble | 100 per cent than perhaps any other | type. Default does not mean at all| that the assets have been dissipated. The land is there, and you cannot take | !away the potential earning power of well located real estate. Because of these ‘llcu. defaults of real estate securities are not nearly so serious as defaults in | the industrial field National 0334 Cottage Chevy Chase, Md. Upstairs has ana Open Sunday 205 Investment Bldg. 3721 Porter Street in CLEVELAND PARK E—— o _———— 3 8ROOM SEMI-DETACHED Only $13,250 n a very popular re- on of bett home offering during brick and stucco construc- , well ventilated bed d bath with shower, ge living room with fireplace, dining room, breakfast room, kitchen floor covered by inlaid linoleum, Frig immense pantry, bronze fixtures, unusually effec- tive floor plan, reception hall, cement front porch, garage, larg landscaped lot. Flawl, Building >|m_>eadevris i;1 "The_iriifi:ieldfis‘ New DETACHED BRICK Very Moderate Price Beauty, permanence and liv- ability are literally built into this handsome red brick residence . . . prominently situated at one of the city's topmost points. Four big, bright bedrooms, imme h showers, floored attic. huge living room 'with artistic all-masonry fi lace, double doors lead to private front po . ing "room, room kitchens with inlaid _linoleum floor covering, breakf vice porches, pantry, " Oil-Tex finish wrought ‘iron hardware and lighting fixtures, copper screens, 2-car garage, deep well land- scaped lot. Open every day and evening. 3727 Van Ness Street NORTH CLEVELAND PARK Metropolitan These are some of the questions which Canisus College graduate, whose body Dr. O. B. Jesness will answer for farm- | was found in Lake Ontario Thursday, lands realtors in the meetings of the | had been slain by bootieggers was under rmlands division at the twenty-third | investigation today. annual convention of the National As-| Sullivan disappeared last November sociation of Real Estate Boards, to be | after leaving Bridgeburg in a boat for held in Toronto, Canada, July 9, 10 and | Buffalo. A warrant has been sworn out 1. for the arrest of Mack Blount of Buf- Dr. Jesness is chief of the division of | falo, believed to have been Sullivan's agricultural economics at the Univer- | companion on the trip. Authorities sity of Minnesota. He was formerly | here said Sullivan was known to have with the Bureau of Agricultural Eco- been engaged in liquor-running. QUALITY ALWAYS COUNTS These Superior New Homes Adjoining Eastern High School Are Selling—Others Remain Unsold 1707 C Street N. E. Open Daily Until 9 P. M. Facing on the New 160-foot Boulevard. There is nothing to equal these houses. Every effort has been made to make them by far the most attractive home offer in the entire northeast section. They are built to last., The location is unexcelled and there is a white resttiction. Seven spacious rooms with tiled bath and shower. Closets in every room; built-in garage; a model kitchen, all-white, with Frigidaire. Large porches. Tastefully finished throughout, with beautifully pan- elled walls, hardwood trim and oak floors. Low Price and Easy Terms ROBERT E.KLINE, Jr. Owner—Builder 718 Union Trust Bldg. National 6799 OR ANY BROKER. oJefefede fofoadsadeadeateateade o Never Before Under $10,000!! Has there been such a remarkable combination of Home and Location! A beautiful 7-room home, facing a 17-acre cellent convenient location, and priced well $10,000. Sample House Open Daily to 9:00 P.M. 254 Madison Street N.W. 3rd and Madison Sts. N.W. FACING FORT SLOCUM PARK Which Is a Beautiful Wooded GOVERNMENT PARK OF 17 ACRES Features: 7 well proportioned rooms, full tile bath, many roomy closets, large bright kitchen, built-out pantry with electric refrigeration; artistically decorated, very latest electric fix- tures, Colonial cement front porch, large bright cellar with cold storage room and coal bin under porch; built-in garage. % ark, ex- NDER These Homes are just what you have been look- ing for. Drive out and see for yourself, or take Takoma Park Car, get off at Madison Street and you ?re at the Houses, or phone us and we will call or you. WAPLE & JAMES, Inc. Owners and Builders 1226 14th Street N.W. 3 4 z. oo North 0962 Evenings or Sunday—Ga. 3202 A A A S A S A IR A T SEARS,ROEBUCK anp CO. Bladensburg Rd. at 15th and H Sts. N.E. REE BOOK Tells How to STOP PAYING RENT OW to SAVE $500 to $2,000e 3 H and Own a New Home With All Modern Conveni- | ences, Financed and Guaranteed by Sears, Roebuck and Co. TSears, Roebuck and Co. Please give full details on how I can own Brick O, “Honor Bilt” Home, Qarage O, Summer Cottage B Sileanel Street