Evening Star Newspaper, January 3, 1931, Page 13

WASHINGTON, D. C, @hfi” Zpg]j_f_‘_‘g %1&19. SISTERS OF MERCY TO BUILD D. C. BUILDING AND LOAN BODIES GREW LAST YEAR Figures on Local Organizations, Ending January 30, 1930, Made Known on Eve of Celebration of System’s Centennial. BY DON S. WARREN. Real Estate Editor of The Star. UILDING and loan associations of the District, whose mem- bers tonight will celebrate the centennial of the founding of the building and loan system in this country, made substan- tial advances in membership, loans, installment payments and aggregate resources during the last fiscal year, according to the current report of John W. Pole, controller of the currency. The resources of the 24 associations operating in the District under the supervision of the controller of the currency on June 30 last, the current report shows, totaled $71,629,000, and exceeded by $5, 665,000 the resources of the 22 associations on June 30, 1929. The loans, which aggregated $68,143,000, showed an increase in the year of $4,577,000. Installment payments on shares increased from $58,916,000 to $64,480,000. The total membership was 74,272, as compared with 71,205 members at the end of the Of the total membership 20,430 were in the year. and 53,842 non-borrowing. Increase in Whole Country. These figures, made public a day in advance of the anniversary celebrations being staged here and in hundreds of other cities throughout the country, will add to the occasions, since informa- tion furnished Controller Pole by H. F. Cellarius, secretary of the United States League of Building and Loan Associations, shows that the assets of all associations of . ‘Total as- sets were listed at $8,605,154,220, with total memberships at 12,- 111,209 ‘Three hundred guests are expected to attend the centennial celebration to otel by the local g;eceding fiscal rrowing class Architects Assist City Development By Larger Program Capital Chapter Sponsors Education Drive and Aids Builders. The local chapter of the American Institute of Architects during the past year enlarged upon its traditional pro- gram of activities designed to promote better architectural developments in the National Capital. cil, of which Edward C. lent and William 8. Quin-| It has worked zealously in the interest Speakers of the development of the Capital along highest lines by sponsoring educational programs, co-operating with builders . | and urging e ey legislation to A of the national il 3 sgggg Six and Eight Rooms, o and three baths. $10,950 to $15,050 Model Home, 4400 Volts Place N.W. B LOCATION Is most important <> These New Homes fF ace 120-Ft. Boulevard in the Popular | FORT SLOCUM PARK SECTION | $8,950 up ] On Rent-like |‘ Monthly Terms | I;';.hib’i{;;omew. e o o.» 385 —éoncord Ave. NW. Lighted . Sunday and Daily Until 9 P. M. | Opon . . . Heated || Porward-looking famities ap- | preciate the fact that a home purchased now—at the RIGHT ” iocation—will serve as a sound investment as well as a place to il important ‘he.nc t question is— Jm ne: modern tions in this district assure pro- tection and future increase in property values. Today's pur- chaser may buy here with abso- Jute confidence. Where is the proper location? INSPECT SUNDAY . .. TO REACH— ive out 16th St. or Georgia Ave. to Longfellow St. themce east t ves’or lake 14in Street (Takoma Bark) car ne fo Lonsietion 8¢ 1418 HGSmithy€Co. N1 Eye St. ted institute on the plan of | Mr indorsed and urged . | first vice pre . | Jr., second vice president. an | Middlef REALTY APPRASL GROUPBUSY IN 153 Values Placed by Board Com- mittee on 233 Properties Worth $4,863,308. One of the prominent features of the work of the Washington Real Es- tate Board during the past year has been the activity of its appraisal com- mittee, which has appraised 233 prop- ertles, having a total value of $4,863,308. ‘This is greatly in excess of the totals for 1929, when 87 properties, valued at $2,912,463, were appraised. The num- ber of properties appraised this year is greater than during any year since 1916, when the committee was organ- ized, and in only four years since 1916 has the total of appraisals exceeded the figure for this year. Raust Is Chairman. ‘The committee is headed by H. L. Rust, jr., and includes Waverly Taylor, John F. ry, William L. King, George Y. Worthington, jr.; R. Marbury Stamp and John T. Meany. During the year the board entered into an agreement with the office of the United States attorney, under which notices to property owners of violations of prohibition laws by tenants have been expedited. This was done by the board in the interest of protecting prop- erty owners against padlock proceed- ings resulting from acts of tenants of which they had no control. The own- ership files of the board were made available to the prosecutor so that property owners might be notified and warned of illegal acts of tenants. County Atlas Being Published. An atlas of Montgomery County, sim- ilar to one for the District used b{ real estate operators, is being published through arrangements made this year by the board. ‘The board continued this year to sup- ply the public with information regard- ing real estate matters, through the free service bureau conducted by John A. Petty, secretary of the board. uiries regar many phases of real estate business have come by tele- phone, letter and personal calls, and . Petty estimates that during the past 10 years 10,000 queries have been answered. Legislation Studied. ‘The board made an extended study during the year of proposed legislation affecting real estate business, and is on record favoring the Capper bill, de- signed to control dealers in securities, rather than blue-sky legislation which would control the securities themselves. The board was recognized during the year, a board of directors being created design | in place of the former Executive Com- mittee. The officers of the board are Arthur Carr, president; J. F. M. Bowle, dent, and John P. Story, ‘The officers and the following realtors constitute the Board of Directors: H. Clifford Bangs, Claud Livingston, William L, Beale, Joseph A, Herbert, jr.; Charles the | A. Jones, E. Quincy Smith, Plc.rcy H. DORMITORIES AT e The Sisters of Mercy of the Union of the United States, who yesterday con- summated purchase of the Kentsdale estate, consisting of a mansion fash- ioned in Italian architectural style of the Renaissance period and a tract of nearly 1,000 acres, in Montgomery County, plan to build dormitories to house 200 Sisters who will come here for studies, it was announced today. in the country club section of the coun- ty, brings to Greater Washington an- (The hall other national headquarters of a per- manent_character. ‘The Italian mansion was built and owned by the late Lyman B. Kendall, and was purchased from his widow, now Mrs. Elizabeth L. Johnston of London, England, by the mother general of the Sisters of Mercy, through the agency of John A. Brickley. The order recently was reorganized to combine all the Sis- ters of Mercy in the United States. ‘The house on the property, which is located about 12 miles from the White House, contains 18 main rooms and has a two-story garage adjoining which con- tains space for five cars and a six-room and two-bath apartment. The estate KENTSDALE also is improved with seven other dwell- ings of six rooms each, a modern dairy, tile silo and a large dairy barn, In the planning of Kentsdale, many ideas were drawn from Northern Italy. The tract of rolling hillside land con- tains oaks, weeping willows (many of which border the banks of Cabin John Creek) and shrubs and plantings. ‘The mansion, built on a rock founda- tion, is constructed of stuccoed hollow tile and brick, with a tile roof. The floor plan measures 100 by 100 feet. has a high, arched ceiling, pale, hand-troweled walls, flesh-color marble floors and pillars of cream mar- ble, wrought lanterns and heavy iron doors. ‘The reception room, 40 by 40 feet, has elghteenth-century-style Italian painted doors, tall candled sprays that were originally altar lights and a mar- ble mantels and fireplace brought from a_ historic setting in Florence. also are some altar pieces from an old SATURDAY, JANUARY 8, 1931 CAPITAL BUILDERS HAVE AGTIVE YEAR Association Co-operated in Star Model Home Plans. Aided-Zoning Change. Zoning matters and f ot better homes in the N.umum“dh:w:l Operative Builders’ oclation durin; the past year. " This organization co-operated with | i ‘The Star in the 1930 Star model homes Vittors to-the fve. cxnibition. awelings e e el proved by The wsur Model H¢ mes omes Committee. Alded Zoning Law Changes. It also participated in the drafting and itation of two important its to the zoning code of the mission during n:';’ p?ft g ¢ ear. One of these its zhe tion of garages in apartment buil for the use of tenants, without the former necessity of obtaining consents from adjoining property owners. The permits the construction of other apartment buildings 90 feet high in g:;!oot zones, pumvldedu the amount of occupanc; greatly red - Sy o Five Build Model Homes. ‘The Star model homes of this year were erected by Shannon & Luchs, gz.: w&v:rl]{ T-y)#'r. Inc.; Baer & holz, forth Washington Reall Co. and W. C. & A. N. Miller. Tg houses were located in scattered sec- tions of the city and were of an in- teresting variety of architectural styles, costs, sizes and plan. Warren is president of the Operative Builders’ Association. Waver- ly Taylor is vice president and Rufus 8. Lusk secretary and treasurer. cathedral. The entire first-floor ceil- ings are beamed with worm-eaten logs. The house contains nine master bed rooms, each with a marble fireplace. Tile used in the bath rooms of these bed rooms were brought from Italy. REALTY REPORT MADE Real estate activity during the month ted by the index REAL ESTATE MEN PLAN LUNCHEONS First Conference of Kind for New Year to Be Held Next Friday. A program of weekly luncheon meet- ings has been arranged by the Wash- ington Real Estate Board for the forth- coming year, to bring local realtors to- gether in the discussion of vital topics and various phases of the real estate business in its several branches, it was Carr, presi the bo-nrd. 'lndlyA o ‘The first luncheon conference will be held next Frrt‘d" at the Hamilton Hotel. Russell, Earl M. Mackintosh, F. Eliot | The ton, Clarence F. Donohoe, Wil- liam A. Hill and Willlam J. Flather, jr. CAFRITZ IS HONORED Head of Firm Guest at Luncheon Given by Employes. Morris Cafritz, president of the Ca- fritz Co, was the honor guest of a murhflm es at a luncheon ber 24 at Aml Hotel. Jacob Roberts was toastmaster. ‘Those present included Alvin Aubinoe, manager of the construction depart- ment; Ralph Hisle, J. M. Miller, Lester Rosenberg, David Wolff, Jack Uyer, Leo Pope, L. Polhamus, L. Turner, Harry Rod, Bh!fle;u Kx:lln, Gladys Dyer, Mary Lou ickett, Ellen Maier and Anne Knouse. Mr. Cafritz presented each employe a bonus check. Shepherd Parkw The Beautiful Home Development See Our Display— Furnished Home 7611 14th St. N.W. Drive out Sunday—to 16th st. to Alssks ave., to 14th st. turn left to Junipe) and our home. L.E.Breuninger & Sons Natl. 2040 Invest. Bldg. -in the best section of CHEVY CHASE eA Property Management of the board is in charge of the pro- gram and Russell B. King, chairman, will wul Ida, u:t this matters pertaini ment of Bese to. mm‘,:“ et of apact- pics concerning .n.mu.‘; in_general. - . Saving $1,500 ‘Which brings the price down $8,950—Terms A beautiful location on Pet- worth’s most imposing thor- oughfare, 4819 Illinois Ave. High elevation—in pink of condition —big, 20-ft. wide house ; 6 rooms, pantry and built- in bath; with concrete block garage. Screened; weather stripped; 3 wide porches; paved street and alley. Overlooks Sherman ™ Circle; near St. Gabriel's Church and public schools. The best buy in Petworth, Open 10 a.m. to 9 p.m. R.M. HOOKER CENTER hall plan with breakfast nook, ‘Tower Bldg. Met. 2663 Dl cl . 3708 HARRISON STREET two baths and all modern appointments which con- tribute a more ample meas- One-half Block West of Connecticut Avenue ure of happiness to REAL home life, as your inspec- tion today will reveal. Open Sunday 10 AM. to 8 PM. W. . anvd. £. Miller Realtors and Builders 1119 17th St. N.W. . Decatur 0610 o 030} foodrodrafraiedoadoairadoidoadradradraioadeafralradoadeeded MNovunhe“.rulnd.lu figure .6, according to the tion - made by the Nethnai Association of Real Estate Boards. The index is compiled from official totals of deeds recorded in 64 cities. The year 1926 is taken as the base year in the association’s compilation. NATION-WIDE GAINS IN BUILDING FORESEEN Reports From 27 Iarge Cities Show Billion Dollars in Con- struction Soon Due. One concrete consensus recorded in & national bullding survey released by the National Assoclation of Building Trades Employers is that Nation-wide construc- tion activities ‘will be on their way to normaley by early Spring. Reports from 27 leading cities are that more than $1,000,000,000 in large projects are scheduled the first four months of 1931. This does not include the extensive governmental program nor in many instances home building. Foxhall Village A Quaint Colony of Homes A Georgetown On the West—Only 10 Minutes from City 5 and 6 Bed Rooms 3 Tiled Baths Large Studio and Lounge Rooms $17,750 to $24,500 Variety is one of the great charms of an English Village. Just as the Great Architect scarcely ever has framed two faces exactly alike, so you will see no two houses exactly alike. This style is traditional. It is so in FOXHALL VIL- LAGE. One of the many fea- tures that make the village so lovely and desirable. You Will Be Charmed With This Model Home, 1606 44th St. Open 9 AM. Until 6 P.M. Purnished by Sloane BOSS & PHELPS, NAtional Peeladbade s YOU WOULD HAVE TO WRECK THE COUNTRY E past year has seen some remarkable, ; astounding fluctuations in commodity prices. Decreases as high as 50 and 75 per cent have been recorded. However, one form of national wealth has suffered comparatively little. To materially affect it you would have to wreck the country. True, in some few communities, un- warranted booms have resulted in inflated prices, with a consequent collapse. But THE GREAT MASS AND BULK OF REAL ESTATE throughout the country—the very foundation ef our national wealth— HAS BEEN COMPARATIVELY UN- TOUCHED by the drastic price recessions in other forms of national wealth. It remains uniroubled in a time of business demoralization. BUILDING NEWS BANKERS SAY TIME RIPE FOR BUYING NEW HOMES Heads of Financial Institutions Agree With Presle dent Hoover That Such Use of Capital Would Hasten Prosperity. ANK executives of the country emphatically agree with- dent Hoover that home-b: g and Mmem great and desirable channel for return to creative employment of capital and to normal p: ty. Statements from executive heads of le: banks and trust companies made to the National Association of Estate Boards response to a telegraphic inquiry sent out last week and made public today by Herbert U. Nelson, executive secretary of the clation, heartily indorse the President’s position. They assure the support of the financing agencies they represent in a continuing movement toward resident activity. The opening of such a move- ment is already indicated. The replies, coming from familiarity with investment possibili~ ties in every fleld and from consideration of the situation as a whole in the cities which the banks serve, are not directed toward any sudden expansion of business. They are concerned with such em- ployment of savings and investment ca.lpi to create lomethln*nmblnnmuy valuable. It is the creative quality of the investment involved in home-building and home-buylléf that utives. dings | {5 repeatedly emphasized in the statements of the bank exec The attitude of financing insti- tutions is important both for its direct and its indirect bearing. Directly it- means the release or withholding of the institution’s investment funds. Indirectly it means much in regard to funds outside the institution’s guardian- | sumed.’ ship. In nine cases out of ten, Mr. Nelson states, the home-buy- er or home-builder must secure a mortgage loan from his banker, from insurance company funds, from a building and loan associa- tion or from other sources, to sup- plement his own capital for his enterprise. The advice of his banker is weighted advice to every family head and every investor in | zenship putting his own capital to its best | sul use. The statements give indication of the situstion in every section of the| K. country. “Now is the best time in tain a home either of prosperity.”—Carl Spencer, president, years to ob- purchase or ips sell, and by giving employment struction or repairs hastens the return | NEW MODEL HOME Completely 1 Furnished and Decorated by W. B. Moses & Sons 3811 T St. N.W. Open Every Day Umil 9 P.M. “Burleith Heights"—a _limited de t of distinctive English. V e Rig elevation with unrivaled outiook over eity. river and surroun countryside. Ten minutes’ drive from mid-city. $198164,000,000 257 Total Wealth 9fNation REAL ESTATE Unfortunate as has been the experience of the past year, we can at least learn one lesson from it: The soundest form of in- vestment for today and for the future is real estate. For the individual this begins with home ownership. To those who prefer the comforts and conveniences of apariment residence (and new home construction in Wash- ington indicate that 70% do), Tilden Gar- dens offers that rare combination of ideal location, beautiful surroundings, splendid homes, service of the smartest apartment hotel, TOGETHER WITH SUBSTANTIAL SAVINGS AND ECONOMIES. of) .andR.B.Warren.