Evening Star Newspaper, October 11, 1930, Page 19

FINDS TIME RIPE FOR HOME BULDING a{hns for Hoover Conference | Hold Much of ‘Promise; Says Dr. Klein. ESTATE. (Continued From First Page) ! wpon it, but also the layout of the whole subdivision, proper handling of heavy traffic by means of well planned | city thoroughfare system, satisfactory | surroundings for the neighborhood, through good city planning and zoning, observed by nearby property owners and by the city in the rendering of its va- rious services. In the case of economies of con- struction, there are involved not only the builders, but the designers. the manufacturers of materials, the lend- ' institutions and a 'home-owning public that is enabled to appreciate the | points of a house. * * * “Pailure to provide adequately for the financing of home owners is réc- ognized by the administration as being, in many respects, one of our greatest shortcomings. Instability in the total supply of credit for home building is one of the most unsettling forces in our economic life, since periodic shortages contribute to business depression and unemployment, besides working hard- ships on Yamilies ‘who want to buy or build, or.even.to renew old mortgages. “The situation is made worse by in- adequate organizition, which results in | fallure to differentiate between sound | = and unsound loans and contributes to | the violence of alternate inflation and deflation in property values, and conse- quently in the rate of new building. “In this whole problem of home own- | nership the question of zoning is one | that indisputably looms large. A home | buyer often faces the possibility that | the vacant lot next to his home may | be taken over for a junk yard or com- pletely covered with a garage or tall apartment house or neighborhood store which may utterly spoil the home as a | place in which to live and force the| family to sell out, with a loss that rep- | Tesents the slowly garnered fruits of | frugality and self-denial. The com- munity doesn't want residential districts to be: blighted or serviceable buildings and costly public utilitles to be need- lessly scrapped as a consequence of such incongruous intrusions. Zoning is the answer—and zoning is spreading apace.-* * * “We. must not fail to stress the bright side of the picture. Though there is much in the home-owning field that we | cannot afford to tolerate, we have, nevertheless, made splendid progress in the past 10 years. We have overcome the shortage arising from the war and the post-war depression; we have de- molished or vacated large numbers of our worst and most ramshackle struc- tures: we have equipped millions of | Gwehlings with modern conventences: w. have seen great advances in architec- ural' design; new materials and meth- ods_of construction have been evolved. Has Bearing on Business. “All this, together with the new movement now inaugurated, has a di- rect bearing on business. The mate- rials going intp even a house of & most modest type are supplied by a vast riety of localities and industries, and the resultant commercial benefits are correspondingly split up. With recent drops in prices of important building materials, with an ample number of highly skilled building trades workers avaflable, with contractors anxious to obtain work and with first-mortgage oney now generally available at rea- Sanable terms, conditions are now favor- able for ‘full speed ahead’ on the part of home builders who command the es- Tesources. *In general, we find that conditions are also good for going ahend with re- alterations and improvements to el g houses. Estimates presented to the recent meefing of the Planning Committee in the Commerce Depart-| ment _indicated that at least $50,000.- | 000,000 will be spent on new residential construction in this country during the | next 20 years and that, in addition, | upward of $500,000,000 a vear is being spent currently on household repairs and maintenance. These are vastly im portant business items: and the new presidential conference will serve to em- | hasize, as well, the enormous human {tuwe of the moneys being rightly | “The worth of the home to the in- dividual and to society lies chiefly in | ita spiritual values, its capacity to in- | culeate an appreciation of fine things, its function as a molder of character | and a builder of sturdy citizenship, its | stimulation of the priceless qualities of companionship, loyalty and & mutual | ylelding for the common good “But those fine flowers of the Ameri- can home, as we see it at its best, rest | inevitably on a material basis—on the | actual physical character of the home | itself and the nature of its financing Surely,we will all that more ad- mirable human qualities spring from a | home that is attractive, in taste:| and honestly, soundly built than from | 4511 Ridge | finaneing methods are right, a salutary | peace of mind is day f di this exclusive section. This is APARTMENT HOTEL 10 COST $5,000,000 Work Is Expected to Start Soon on Structure Near Klingle Bridge. ' (Continued From First Page) in the northwest wing which’ likewise looks out through large windows to the court garden. Second Lounge and Promenade. To the right of the main lobby is another large lounge and promenade leading past the news stand and tele- phone baoths, to the assembly room in the south wing, a hall 52x66 feet, with pantry, check room, lavatories and a lobby and direct entrance leading to the side of the main court—similar to, the entrance on the oppasite side of the court to the dining room. -+ The promenade in the south wing goes beyond the assembly room, past the drug store, to a lobby and entrance leading directly to Connecticut avenue. In the rear of the main lobby is the | front desk, and beyond it the main | office, vault and manager’s private of- fice, the latter opening directly into the manager’s apartment. Four large high-speed passenger ele- vators, two off the main lobby and one ach in the north and south wings, afford_convenient and rapid access to every floor. These will be supplemented by a battery of service and freight eleva- tors similarly located. Descending the main staircase to | floor A below, on which will be located the beauty parlor, barber shop, valet service and laundry agency, will find the recreation room, in size 120 feet by 83 feet 6 inches, where will be loca- ted a billiard room, card rooms, minia- ture putting green, driving nets and a number of exercise rooms. On floor B, below, will be located the two-story ball room, with its own serv- ing pantry, communicating with the kitchen above, lavatories, check rooms, private lounge and lobby. The bail room is to be soundproof and may be entirely cut off from the rest of the building. Garages for 250 Cars. From Connecticut avenue, on the south side of the building, a 32-foot driveway turns behind the south wing | & | and leads directly under a .d into the very center of the building, past the | entrance to the ball room lobby. The driveway continues down to floor C, which Is the first of three garage levels located on floors C, D and E. The garages provide space for 250 charm, if it .is- satisfying to both the| esthetic' and the social sense—if its| surroundings are harmonious and rest- | ful—one need hardly say that the| members of the family will take keener | pleasure in it and will be less prone | to seek outside excitement. And if the | Labli.sheg and -the Four Rooms, Kitchen and Bath, $57.50 Cambria-Majestic 1324 Euelid Street N.W. Telephone National 5000 For immediate delivery of The Star to your home every evening and Sunday morning. The Route Agent will collect at the end of each month, at the rate of 11, cents per day and 5 cents Bunday. . D. C, SATURDAY, OCTOBER 11, 1930. 5 . an architect’s drawing showing how the huge structure, to be the largest single building of its kind in|Y and adequate standards of maintenance = Washington, will appear from a position in Kllfl‘le Valley. cars, They are directly accessible from Connecticut avenue. ~Thus _residents will drive to the level on which they park, leave their cars to the attendants, and ‘board the passenger elevators, to be lifted to their floors above. On floors 1, A, B and C are 52,169 square feet of storage space, including lockers for private storage. On floor C are located 35 maids’ rooms, janitors’ apartments and laundry. On floor D, carpenter and paint shop; floors E and F, coal bin, hoiler, room, electrical equipment, etc One innovation in “The Kennedy- ‘Warren” is the cold air ventilating sys- tem. The entire building is to be venti- lated mechanically, the air Bein changed in the apartment section ever 15 minutes. Cold air shafts will run throughout the building, through which will be forced 32,000,000 cubic feet of cool air each hour, by seven gigantic fans, all located below the street level vibration. ‘The air is to be taken from a point in the park 70 feet below the street, and thermometer readings during the past Summer have shown, in warm weather, a temperature of 14 or 15 de- grees cooler than at the street level. The apartments will range in size from those containing living room library or sun OVERLOOKING SHERMAN CIRCLE Almost New 20-ft. Brick Home 4819 Illinois Ave. N. $9,500 You can save & substantial sum by purchasing this un- derpriced, well bullt, newly re- conditioned, tapestry brick home of unusual size. 6 big rooms, reception hall, tile bath, shower, cement front porch, double rear porches, oak floors, cement block ®a- rage; house is fully screened and has many attractive fea- tures. High elevation, con- venient to every facllity, beau- tiful outlook over Sherman Circle. OPEN FOR INSPECTION R.M. HQOKER Tower Blds. Met. 2663 three | and isolated from the structure to avoid | | kitchen, two bed rooms and two baths, to the smallest, consisting of living | room, dressing room (with disappear- ing_bed), kitchen and dinette. Most of the apartments will have two ex- posures and some three, Lectures Announced. A series of public lectures will be ziven by Ralph E. Boileau, Unity speaker and ficld director, in the Masonic Tem- | ple, Thirteenth street and New York | avenue northwest, October 14 to 24, in- clusive. Closed-class work will follow October 26 to November 2. These lec- eration with REALTY FINANCING LOWEST SINCE 1922 | Purely Speculative Building Decline Is Held Partly Responsible. Purely speculative construction proj- | ects, which at various times in the past | have been found to have resulted in | failures or have served to create sur- plus amounts of residential or commer- cial space, apparently are not meeting | | with ready favor among financiers this year. ~ / While mortgage bond money is re- ported to be generally plentiful through- “| out the country, realty financing thus far this year is found to be far below |last year and it is believed by many | that the attitude of financiers opposing | purely speculative construction projects is partly responsible. Real estate bond, note and stock financing in 1930 will not exceed $175,~ 000,000, the lowest figure since 1922, & statistical survey has led Nelson, Hunt & Co. of Chicago to believe. | Decrease of 64 Per Cent. | Statistics compiled in the review showed that the volume of new issues in September totaled 9,719,000, making | the aggregate volume of new realty | bond and stock offerings by leading in- I vestment houses of the country for the $6,9 ‘729 Madltson St. NW room, dining room, |} Open All Day Sunday Phillips & Ezclusive Agents Investment Bldg. 5()-00 An Unusual Value— Six large rooms and garage—in perfect condi- tion and modern in every respect. Paved street and alley, and has southern exposure. We believe this home is several hundred dollars underpriced, and can be purchased on very easy terms. Canby, Inc. 1119 17th St. N.W. HIS delightful dwelling of six rooms and tiled bath is but one of a group of similar homes in The quaint- 3012 43rd St. N.W, . C. and 4. . Mil Builders—Realtors Miller Designed Miller Built Open for Inspection 10 AM.—6 P.M. Sunday ler Dec. 0610 mmfififififilfififififibflmfitfimfifli 416 Jefferson St. N.W. 7 Rooms. .. (4 Bed Rooms) #8,750-00 415 Jefferson St. 8 Rooms (Semi-Detached) 9,650 Outstanding Values In New Homes. sel. Open for Inspection, Built by THOS. A. JAMESON _ These Homes have been carefully designed and only ected materials used in con- struction. 150. This is & decrease -of more than 64 per cent from last years total of $434,448,385 for the same period, and fess thon onle=fourth of the volume reg- istered in the frst nine months of “Although there was a sharp in- crease in the volume of realty financ- ing in September,” sald the review, “conditions continue quiet and there is little likelihood of any large amount of new construction financing during the next three months. Onh the basis of present reports, the total amount of new offerings for the entire year will be about equal to that of 1922, when new realty issues aggregated $174,767,000.” Figures on Financing. Statistics showing the volume of new of 1930, as compared with the same pe- riod of a year ago, follow: 1930. 1929. $137,063,150 $357,806,650 76,641,735 Bonds ... Stocks . Totals .... $154,398,150 $434,448,385 The review showed the volume of new September stock and bond offerings represented a gain of 85 per cent over last month, and 66 per cent over Sep- Open Sunday 11 to 6 P M. 55x120, realty financing in the first nine months | the owner to sell this home, provided. fioor lavatory, maid's bath on the third floor. down-spouting throughout and slate 1704 Conn. Ave. REAL EST tember, 1929. There were 18 bond and note issues totaling $7.849,400, and 3 stock offerings aggregating $1,870,000, including a $1,500,000 investment realty | trust offering. Further analysis of the review's fig- ures showed that new issues underwrit- ten on residential structures lead the | various classifications, constituting ap- | proximately 50 per cent of the volume for the month. There was, however, & large volume of miscéllaneous financing consisting mostly of collateral trust cer- tificates. Pirst mortgage offerings on office buildings totaled but $1,425,000. FIRST BAPTIST SERVICE Pastor to Preach on “Dwelling To- gether in Unity.” At the First Baptist Church tomor- row morning the theme of Dr. Samuel | J. Porter's sermon will be “Dwelling | Together in Unity.” The Lord's sup- | per will be observed. At night the sub- ject will be “The Unstained Con- rable queror."” The Sunday school will meet at 9:30, the B. Y. P. U at 6:45 pm. LOVELY HOME IN 3611 Fulton Street NN\W, and gutters, metal roof, two-car brick garage. Realtors—Ezclusive Agents ATE. CHIMES ARE DESIRED { Will Commemorats Establishment of Lutheran Church n-1760, At the monthly meeting of he Church Council of Geofgetown Lutheran Church, Wisconsin avenue and Volta place, it was decided to provide a sult« memorial commemorating the history of the church, which was founded in 1769, The memorial will consist of & set of chimes to be installed in the uhlfi tower. Through the plan which Church Council has outlined 1t is be- lieved the necessary funds will be ob- tained and that the chimes will be ine stalled within a year. St. Luke's Church, Bladensburgy At St. Lukes FEpiscopal Bladensburg, a young people’s soclet; will be organized. This society will be of & social nature with a religious back« ground. The first meeting will be to= morrow at 7 pm. All the young of the community are invited come members. AN UNUSUAL OPPORTUNITY TO PURCHASE A Massachusetts Avenue Priced Well Under: $30,000 Due to unusual circumstances it becomes necessary for Situated as it 1s, overlooking the National Cathedral, amid delightful surroundings and its elose proximity to the city—a convincing value is repre- sented. The house is appealing in its simplicity of design, practical plan and spacious, livable comfort. Celebrating its first birthday, it is naturally in perfect condition throughout, and of course every modern convenience is In all, there are nine rooms, three baths, first Toom and _conveniences—4 bed rooms, 2 tiled baths on the second floor, 2 bed rooms and Equipment inclides General Elec- tric Refrigerator, Quiet May Oil Burner, copper screens, weather-stripping Beautifully improved lot Ofpen Sunday Schwab, Valk & Canby Pot. 0830 4531 28th Street N.W (Between Albemarle and Brandywine Streets) The main hall as you enter gives that pleasant impres- sion of hospitality. At the end of which you enter directly a delightful den with its own private lavatory. To the right a lovely living room augmented by a connecting sun room looking out on an unsurpassed wooded setting. Ideal service arrangements with direct access from kitchen to main hall, to dining room through service pantry equipped with General Electric Refrigerator. A full cellar, bright, well ventilated and containing the latest type oil- burning furnace. A two-car built-in and heated garage. Each bed chamber on the second floor has direct access to bath, its own croset and cross ventilation. The third floor has two bed chambers, bath and large cedar-lined storage Street Chevy Chase Open every da) closet. Entire house equipped throughout with nationally known “Fenestra” Screen-type Steel Sash, affording maxi- mum light, perfectly controlled ventilation and insuring utmost protection against Winter’s cold. Furnished by WD, Moses & Sons Open Daily for Inspection 10 A.M. to 6 P.M. (Evenings by Special Appointment) s ——T0 REACH—— Drive out Connecticut Avenue to Albemarle Street, turn right on Albemarle, thence east to.28th Street. Approached from’ Rock Creek Park by Broad Branch Road to Brandywine Street, thence west on Brandywine to 28th Street.” Alfred T. Newbold OWNER—BVILDER Sunday and Every Day Until 9 P.M. Drive out 13th St. or Ga. Ave, to Jefferson St.and east to houses, or take 14th St. car line to 5th and Ken- nedy Sts. ness of its Colonial motif is evident not only in the design but is faithfully interior decorations, including an inviting Colonial fireplace in the living room, wallpaper depict- ing hunting scenes in the dining room and bed rooms papered in Early Co- lonial prints. The kitchen, however, which is modern to the last detail, is most_conveniently arranged and com- pletely equipped. Price $1 1’950 Terms To ImspectDrive out Conmacticut Ave. to Bradley Lane: turn left (West) on Bradiey Lane, three sguares to East Ave., then right (North) om East Ave. ome block to Ridge St. M. and R. B. WARREN Buslders—Wis. 2873 Large front and rear porches, built-in bath with shower, oak floors, natural wood trim. Large bright kitchens. Lots, 140-feet deep, with garages. Paved street and alley. FRIGIDAIRE INCLUDED AN INSPECTION WILL PROVE THEIR REAL VALUE Wm. M. Throckmorton 208 Investment Bldg. ---District 6093 for inspection until 9 P.M. 5626 CONN. AVE.