Evening Star Newspaper, August 9, 1930, Page 13

WASHINGTON, R ok U. S. OFFICIALS WILL HELP CITIZENS TO BUY HOMES Co-Ordinated Efforts of Federal and Business Leaders Will Stimulate Building and Owning of Houses, Says Miller. motion by President Hoover to aid C a ;ome u);xdoubbedly will do much to stimulate hom and home owning. i This was the conviction expressed today by William C. Miller, ormer president of the local Real Estate Board, who now is a direc- {or of Fhe National Association of Real Estate Boards, one of the bodies appointed to assist in combating the decline in the percent- age of home ownership, which set in definitely in 1925. Mr. Miller, who is serving the last haif of his term as chairman | he home builders and subdividers’ division of the national real- oints out that the Hoover commission will attack the e home-building industry, seeking to make it e advantageous for the average Amer- O-ORDINATED efforts by high Government officials and lead- s of a score of major g the average citizen to buy of t tors body, P major problems of thi easier, more desirable and mor ican to own his own home. national business associations set in | e building | The .commission will deal with the whole broad subject of home con struction and home buying, including matters of finance, design, equipment, city planning and _transportation. Various national bodies already have been at work on the problem and these forces will be combined under the guidance of the commicsion. Lamont Heads Plan Group. Secretary of Commerce Lamont will head the planning committee and John M. Gries, chief of the Division of Building and Housing of the De- rtment of Commerce, Will be execu- | ve secretary. The heads of the following organiza- | tions' have been named initial mem- bers of the commission: American Civic Association, American Farm | Bureau Federation, American Federa- | tion of Labor, American Home Eco- | nomics Association, American Institute | of Architects, Associated General Contractors, Association of Life In- surance Presidents, Better Homes in America, Chamber of Commerce of the | United States. General Federation of | ‘Women's Clubs, National Association of Builders' Exchanges, National As-/ sociation of Real Estate Boards, Ni tional Congress of Parents and Teach- | ers, National Farmers' Union, National Grange, Russell Sage Foundation, ihe | Savings Bank Division of the Ameri- can Bankers' _Association, United League of Building and Loan Associations and the Women's Na- tional Parm and Garden Association. Miller Explains Work. Mr. Miller today made the follow- ing statement regarding the work of the Hoover sion : “The strength of a nation is a re- flection of the homes of the common The home, therefore, is of portance than the factory S the bank. It is the pulse of pros- perity and so it must be stimulated if our Nation is to come out of its pres- ent _lethargic state. “In 192'1‘ wk;:xengec{ehrg H%(::;r organized the ent’s Unem| - ment Conference, America resounded , ‘Own Your‘l)‘:l;s Home, der the impetus o move- ment we have enjoyed almost a decade of unexampled prosperity. Caution, thrown to the winds and persuaded to _invest in réal te as never before. We have ‘seen this 10 years the formation of companies, headed by men or mo real estate experience, credit upon the basis of the eatest return rather than upon the is of sound security. It is no won- | Ger then that so many of these financ- | ng corporations found their assets | frozen by being forced to take back | property which was never truly worth | the loans extended. - Honest Man Beaten. “1t is no wonder that the hones'.‘ builder could not compete with the | “jerry’ builder and it is no ‘wonder that the stockholders in these large financ- ing corporations, which covered the country like a huge network, set up & howl against real estate financing corporations whose capital has been | either lost or temporarily frozen so that they are not now receiving the dividends to which they would be en titled had their money been invested in a safer way. | “Capital is entitled to interest; labor §s entitled to wages; and land is en- titled to rent or income—all in proper | proportion. When any one of these three factors begins obtaining a greater yeturn than has been customary in the t, there is something wrong with z economic structure and so when financing corporations were earning 18 to 25 per cent per annum for their stockholders, the public should have Tecognized the red flag as a danger signal and looked into the manage- ment of the companies which were ap- parently earning such great dividends. Capital has never been entitled to such estal in financing of little extending JUNIOR FINANCING PLAN SUBGESTED Service for Loan Bodies, Says'Minneapolis Man at League Division Meeting. Building and loan associations are the logical organizations to undertake junior financing of American homes, and should be permitted to handle second mortgage money, Samuel N. Reep, Minneapolis, declared at a meet- ing last week of the executive officers | division at the thirty-eighth annual | convention of the United States Build- ing and Loan League. There are a number of States that allow building and loan associations to make second mortgages, but few asso- ciations anywhere, except in Pennsyl- vania, have entered into this phase of | home financing. Mr. Reep stated that most homes | would never be built if there were not some means of the home owner obtain- ing the difference between the first mortgage funds and the cash he has in hand. Should Form Companies. Building and loan associations that go into the second mortgage business | should form independent companies for this purpose, should make it clear ‘o their investors that security for such funds are junior liens and, of course, should pay higher rates of interest, Reep declared. “The laws in some States will have to be changed to permit building asso- ciations to handle second mortgage nds. Enactment of legislation to permit buflding and loan associations to act as trustees of small estates was urged here recently by Arthur G. Patterson, Walton, N. Y., attorney. Mr. Patterson said that his recommendation had in mind only those building and loan asso- ciations that are purely mutual and whose investments are limited by law to those securities in which trust funds | may be invested. Legislation Ts Proposed. The enactment of new legislation to permit building and loan associations to give their 12,000,000 customers com- plete banking service, including check- ing accounts, traveler's checks, letters of credit, collateral loans other than mortgage loans, etc., was proposed by Charles E. Winkler, New York, assistant secretary and business manager of the | Serial Bullding, Loan & Savings Insti- | tution. { SALES CONFERENCES | ARE TO BE IMPROVED | Industrial Realtors to Get Advice and Help in Planning Set-Ups, and Exhibits Made. A new type of sales conference, in which individual realtors will be given advice and help in planning various types of set-ups for seling city residen- tial property and farm. lands and in which a coffection of successful set-ups will be exhibited, is to be made avail- HOME BUYING COST Work Is Under Way in Many Quarters to Lower Levels, Says Reaume. While costs of small homes have been | constantly increasing, work is umder | way in many quarters to bring prices | to lower levels, according to Leonard P. | Reaume, Detroit, president of the Na- tional Association of Real Estate Boards. The costs of country cottages have risen so high that the men engaged in financing, building and selling them have banded together and will spend huge sums to study ways and means of making home-owning more economical, Mr. Reaume told the United States Building and Loan League at its recent convention. He declared he believed costs of home buying could be lowered. Wasteful Planning is Cause. Mr. Reaume listed wasteful city plan- ning as one of the contributing causes to high prices. The checkerboard com- munity plan belongs to horse and buggy days, and fewer streets &nd economies in subdividing land would bring down home costs, he contended. “Large industries in the building field and powerful trade organizations are now studying possible improvements in the technological efficiency of home building.” said Mr. Reaume. Stan- dardized units and mass production of American homes will undoubtedly be developed, thereby lowering their costs in much the same way as an automobile is relatively low in cost because it is one of many models. The speaker said that the next 10 years will develop home financing plans that have not yet been thought of, de- scribed the necessity for long-term mortgages as &n ‘encouragement to home owning and urged improvements in junior financing plans. He said that the next few years would, witness the term financing Up to 90 per cent of the cost of a house. Speaking on the tax situation, Mr. | Reaume said: 1 Tax Problem Studied. “The National Association of Build- ing Owners and Managers, the Mortgage Bankers' Association of America, the | United States _Building and = Loan | League and the National Association of | Real Estate Boards a month ago ap- pointed a joint committee to study for the first time on such a national scale the tax problem as it affects the owner of real property. “A committee of experts from various | parts of the country is working under | the direction of Prof. Simon Leland at | the University of Chicago. It is too| early to say what these committees will | find, but it is the first time that so| much influence and ability has been; put behnid the solving of the problem confronting the small home owner. “If this committee works for a whole year and brings in but one single prac- tical suggestion for easing the tax bur- den on real property, this will act as a tremendous encouragement to home owning by so reducing its costs.” SAFEf? CODE IN SPORTS Engineering Experts Are Hoping to Eliminate Hazards. To lessen, if not eliminate, hazards to spectators at sports events, a na- tional safety code is being prepared by engineering and construction experts under the guidance of the American Standards Association to -govern the erection of grandstands. Collapse of such structures for school and college crowds has been increas- ingly frequent since the war, the as- sociation reported. ‘The failures are attributed chiefly to the desire to ac- SLASH IS PREDICTED 1 | Grady Gore. Large apariment property at 1954 Columbia road, which has been purchased | by Barney Robins from Edward Beecher Dean, sr., through the office of H. FORTY HOME SITES TAKEN IN KENWOOD |D. C. Business and Professional | Men Expected to Construct Homes Soon. Forty Washington business and pro- fessional men within the past several! weeks have purchased home sites m.‘ Kenwood, Md., and most of the pur- chasers are expected to start construc- tion of new homes in the section in the | Dpear future, according to announcement | today by the Kennedy-Chamberlin De- velopment Co. Construction of three of the houses is to be started next week and others are to be contracted for later. The houses will be built from plans prepared . for the owners and approved by officials of the development concern. The purchasers of the 40 home sites an dtheir friends were the guests Mon- day night of a dinner and reception held at the Kenwood Golf and Country Club, at which officials of the develop- ment concern were hosts, including E. S. Kennedy, president; Donal L. Cham- bérlin, vice president and treasurer, and J. Howard Hixson, secretary. Purchasers of the home sites were: W. Gwynn Gardiner, Robert S. Stunz, J. F. M. Bowle, John E. McClure, Ray- mond N. Beebe, Monroe Warren, C. E. Galliher, Alex. W. Gregg, Hugh E. White, Harrison R. Hathaway, E. Bar- rett Prettyman, Bolitha J. Laws, Rich- ard S. Doyle, Alfred T. Newbold, Grover Bache Gill, Ralph B. Fleharty, O. J. Graham, S. A. Dulany Hunter, Joshua Evans, jr.; A. M. Hyler, R. K. Kyle, A. | Montague Ferry, Howard W. Phillips, W. R. Willoughby, H. A. Schultels, Thomas W. Brahany, James E. Colli- flower, C. P. L. Moran, William H. Burrell, Nathaniel Mountford, Lee D. Butler, Earl W. Shinn, Richmond B. Keech, Gordon Kennedy, Dr. Carl Hen- ning, L. T. Pendleton, Horace Brown- ing, Charles H. Jerman, J. Hrason commodate as many spectators as pos- sible in temporary stands. able for meetings of local real estate earnings and the avarice of the man- agement of these financing corpcra- | tions has resulted in a great shock to the real estate industry. “As the condition of stagnation and unemployment in 1921 was avoided by Secretary Hoover by stimulating the| construction industry, so mow by his| conference on the problems presented | on home ownership and home building. | President Hoover will probably again| Tevive the building industry, Wwhich is the greatest industry in America today, and In so doing he will bring back to us that prosperity which we have tem- porarily lost. According to his state- ment, as given in the press of August 2. due consideration will be given to the financing problem, and if proper safeguards are provided there is no Teason why the prosperity which will ~ (Continued on Page 2. Column 2.) ¢ Peesttsssssssrssssssssess ' A Guarantee of Real Value “Warren-Built” YOU will agree when you see this charming Colonial hom north of Bradley Lane and west of Connecticut Avenue. oodside Place. beautifully e 1a CONTAINS: %) PRICE: To inspect, drive out Comnecticut Ave. to Rosemary 5t. (ome block morih of Bradley Lane), turn left to Meadow Lane, then right to Wood- side Place, then right o property. O S e e e R n s { M. and R. B. Warren : i + B i boards and State real estate assoclations beginning September 1, according to an | announcement made_today by the Na- | tional Assoclation of Real Estate Boards. | Guy W. Eillis, Detroit, Mich., who | is & special lecturer on the educational | board of the national association and | who, with A. John Berge, has conducted | sales conferences before a number of | local and State real gstate organizations, is to conduct the sales conferences to be | given under the new program. | Among the first conferences Wwhich | Mr. Ellis has definitely scheduled will be a meeting at the convention of the North Caroine Association of Real Es- tate Boards, August 18 and 19, in Wil- | mington. He will also address the Vir- ginia Real Estate Association at its con- | vention at Lynchburg, October 23-25. 4403 Elm Street Located in Chevy Chase, north of Chevy Chase Club and west of Connecticut Avenue. Beautifully landscaped_grounds and many fine shade trees make a lovely setting for this fully de- tached six-room house. Contains every modern con- venience and appointment, in- cluding open fireplace, tiled bath with shower, bullt-in kitchen cabinets, large pantry, well lighted cellar, covered side porch and built-in garage. Drive out Wisconsin Avenue to Leland Street, just morth of Bradiey Lane, turn right three blocks to 44th Street. then left two blocks to~ prop- erty. M. and R. B. Warren Open all day Sunday, and for week day inspection phone Wisconsin 3764 Complete Homes Most Convenient First Offering! |l 7Rooms-4Bed Room:s | it i | Arranged for 1 or 2 Families. Never Before Have There Been Such Boyden and H. Lawrence Choate. | | Offered in This Close-in. Section. 1 Block of Junior High School; 2 Blocks of Eastern High School; 2 Blocks of natural wood finish; paneled p and bath room; screened open with disiug set (invisible when Frigidaire; heavy infaid Tinoleum many sards; copper spouting, gutters Terms You scaped; stone retaining wall around lawn. Construction and material the very best. Large Government Park. SOME INTERESTING FEATURES Colohial cement front porch; hardwood floors throughout; papering; “Sanitas™, on kitchen 1 porch; model roomy kitchen not in use); cabinet gas range; 1; colonial brass lighting fixtures; cedar-lined closets, radio outlet with antenna (already installed) ; Duplex electric plugs; built-in garage; real slate man- and flashing; attractively land- Carefully planned. Price Low Can Afford Exhibit Home Open to 9:00 P.M. 313 17th Street N.E. (17th St., between *“C” and *D” Sts. N.E.) Real Estate Brokers and Salesmen Invited. Co-operation Given Waple & James, Inc. 1226 14th St. N.W. North 0962 ' U INDUSTRIAL FINANCE SURVEY IS PLANNED National Real Estate Boards to Acquaint Cities With Success- ful Methods Used. * For the purpose of acquainting cities with methods that have proved ‘success- ful in the financing of industrial devel- opment, the industrial property division of the National Association of Real Estate Boards at the association’s re- cent Toronto convention voted to un- dertake an intensive survey of com- munity financing of industry as prac- ticed by leading American cities. Among the plans for attracting in- dustry to a given community that are to be studied are those which are now successfully operated by the Baltimore | Industrial Corporation, a civic enter- prise organized some time ago, and the Easton, Pa., fund of $1,000,000 available for the financing of industries arrang- ing to locate in that city, and the Louis- ville, Ky., Foundation. Woodlawn of Ancien‘ti Date. ‘Woodlawn, on the Potomac River, in Fairfax County, Va., was built in 1799 by Lawrence Lewis, who married Nell Custis, George Washington's step- daughter. Dr. Willlam Thornton : was the architect. The house has been very much added to and altered. SATURDAY, AUGUST 9, APARTMENTS SOLD ON COLUMBIA ROAD Schuyler Arms Purchased by Barney Robins—Assessed Value Is $410,000. ‘The Schuyler Arms Apartments, 1954 Columbia road, has been purchased by Barney Robins from Edward Beecher Dean, sr., for an undisclosed consider- ation, it was announced today by the office of H. Grady Gore & Co., which handled the transaction. The property has as assessed value of $410,000 for land and building. The property con- tains 96 apartment units. The Cambridge Apartments, 921 Nineteenth street, an eight-story struc- ture containing 72 apartment suites, has been purchased from Mr. Dean by Jamie Shorter Gore, it also is an- nounced. The assessed value of this property is in excess of $206,000. ~ | . H. Grady Gore & Co. also announces | the following other sales closed fe- cently: The Summit Apartments, 1712 Summit place, an eight-story structure, | purchased by Kenneth F. Wood from S. Linkins; 1862 Ontario place, a build- ing containing 12 apartments, sold to-a Jocal investor by J. W. Goulding; the Smithfleld, 1115 Ninth street, a si story building containing 12 apart- ments, by E. 8. Poston to Kenneth F. Wood; 610 F street, store building with apartments above, sold by P. D. Demp- sey to George W. Hoover; 901 Twen- tieth street, four-story apartment house, sold by the Alroy Properties, Inc., to| | an unnamed local investor; 524 Kenyon street, building containing 14 apart- ment units, sold by Barney Robins to a local investor, and 1101 Fairmont street, building containing 12 apartment units, old by the Alroy Properties, Inc., to a local investor. MOUNT AIRY IS OLD | House Built in 1750 Partially De- |, stroyed by Fire in 1844. Mount Airy. on the Rappahannock River, in Richmond County, Va., was built in 1750 by Col. John Taylor. The | interior, as well as the cornice, chim- | neys and roof, was destroyed by fire in | 1844 and hastily restored with consid- | eration only for comfort and economy. | The exterior is of native brown sandstone, with trim of fine white sandstone, said to have been brought from England. The formal setting and character of the house and the monu- mental scale of the gardens suggest a European designer. HE | WANTED | | Young man about 25 years old to specialize in selling new homes owned and built by Boss and Phelps. Apply Room 201, 1417 K Street, after 12 o’clock. 7517 14th St. N.W. Offering the Distinguished in Furnishings By D. S. POOL This brick home of 6 rooms, 2 baths and garage cannot be duplicated at the price we are offering it. Come out Sunday and see for yourself. Drive out 16th St. to Alaska Ave. to l4th St, turn left 3 blocks to this furnished home. L& Breuninger S Sons Investment Bldg. Builders-Realtors There’s Always a Breeze Out in NORTH GATE We have only two houses unsold in our Kalmia Road operation and both Detached, with 3 or 4 bed tively designed with large, bright rooms. Double garages. INSPECT TODAY 1323-27 KALMIA RD. - Drive out 16th St. to Kalmia Rd-, turn right to houses. th To reach: SUCCESSOR T A /Ran.s‘bu;y COMQA}NY INC. 1418 Eye St. N.W. National 2040 are priced under $20,000. rooms and 2 baths. Attrac- Compa BUSINESS OF y o) Nat’l 5904 1930 BUILDING NEWS B—I BUILDING PERMITS RISE T0O $643,021 DURING WEEK Eight-Story Structure of Brookingsv Institution, Costing $350,000, Tops List, Report Shows. RIVATE bulldlné operations in the District, for which permi 3 ts were issued during the past week by Col. John W. Oegmatm. building inspector, have an estimated total cost of $643,021, an increase over the figures for several weeks recently. The largest item in the list of new work was the permit for the construction of the eight-story building for the Brookings Institution :z Z@DJ gg&(so}l‘_nhplahcefidjrhlsi p{ojgct has a construction cést estimated ,000. e building is to be used for the institution’ workmsnd for dormiteries for its scNolars. e ans were approved also for a new church building for ;“:iiseol;ldsWMeBetling Hg;xsie aé 2109 Detcatur place, at a cost gf m&t)loe . Briggs obtained permit for the construction of a $2 dwelling, to be erected at 1733 Kalmia road. o Plans for construction of 13 dwellings pgs, 5704 and 5706_Nevada avenue and a number of remodeling projects | (lots 44 45, squai st e L L L e e i ed the following: «Eight-Story Building. The Brookings Institution, owners; | Parks & Lockie, architects; Davis, Wick, Rosengaften Co., Inc. builders; to erect one 8-story brick, stone and concrete institutional and dormitory building, 722 Jackson place (lot 22, " | square 167), to cost $350,000. Washington Friends Meeting, Inc., owners; Price & Walton, architects; S. J. Prescott Co., Inc., builders; to erect one 1-story brick, stone and concrete church, 2109 Decatur place (lot 808, square 2515), to cost $66,000. Edson W. Briggs, owner and design- Kass Realty Co., owners and build- ers; to erect one 2-story brick gasoline station, 3619 Georgia avenue (part lot 801, square 3032), to cost $15,000. George Washington University, own- ers; Norris 1. Crandall, architect; Frank | W._ Burnett, builder; to erect one 1- story brick and concrete block addition, 2026 H street (lot 43, square 102), to cost $15,000. Mrs. Natalie S. B. Yates, owner; George N. Ray, architect; Pringle Con~ struction Co., builders; to erect one 3- story brick and stucco addition and remodel. 2448 Massachusetts avenue (lot 848, square 2500), to cost $15,000. ‘William Heard, owner; F. M. Me- | Conike Co., builder; J. J. Whelan, arch- itew:; to erect one 2-story brick dwell~ ing, 3331 Q street (lot 140, square 1245), to cost $15,000. Brick and Frame Home. Breuninger & Phifer, owners and builders; L. E. Sholtes, architect; to erect one 2-story brick and frame dwelling, 6010 Thirty-third street (lot 11, square 2010), to cost $8,000. | _G. s Seek, owner and builder; to | erect one 2-story brick and tile dwell- ntinued on Page 2, Column 1.) er; Allen S. Saville, builder; to erect one 2-story brick dwelling, 1733 Kalmia road (lot 8, square 2748), to cost $24,000. W. C. & A. N. Miller, owners and builders; G. E. MacNeil, architect; to erect one 23;-story brick dwelling, 4908 Rockwood' parkway (part of parcel 13/38, square 1513), to cost $17,400. Two 2-Story Dwellings. Herbert & Myers, owners and build- ers; Joseph G. Herbert, architect; to erect two 2-story brick and frame dwell- WAVERLY TAYLOR . % Invite you to visit their Double-Front English Group Homes in Foxall OOLED by vrefreshing breezes that always jlay about Foundry Branch Valley Park on the east . . . facing Foxhall Village on the we. . but ten minutes by motor from the White House. . .architecture “Commended” by the Architects’ Advisory Council . . . containing six and eight rooms with one and two baths and built-in garage of superior brick and stone construction . equipment that has sct a new standard of cxcellence . . . unusual values—are some of the reasons which have made this develop- ment the most outstanding one of the year. Forty have already been purchased. Furnished Model Home—1509 44th St. Office—1522 K St. Nat'l 1040 Three New Detached Homes Chevy Chase, D. Only—*11,950 Electric Refrigeration A real home of half brick construction. Guest wardrobe closet, open fireplace, complete kitchen equipment, three large bed rooms, cedar closet, linen closet and three other closets. Exhibit Home—3200 Jocelyn St. N.W. OPEN ALL DAY SUNDAY Drive right from Conn. Ave. on Military Rd. to Broad Bra one-half block to Jocelyn St. and our s b 9. €. EBRouglass Co. ealtors 1621 K St. N.W. Metrop. 5678 e Over 55-ft. frontage. Large living room. Covered side porch. Full tiled bath. Built-in garage.