Evening Star Newspaper, January 10, 1931, Page 16

REAL ESTATE. CAPITAL ON SOUND ECONOMIC BASIS Prominent Realtor Classes Washington Among World’s Most Substantial Cities. ‘Washington, being the capital of the wealthiest Nation in the world, is on the soundest, most substantial eco- nomic basis of any city in the world, John F. Maury, former president of the Washington Real Estate Board, and now a member of its Appraisal Com- mittee, declared today in a statement to The Star. “Washington is the last city in the country to feel a depression or panic if one should exist, because it is the seat of our Government, and whether times are good or bad the Govern- ment salaries go on just the same - and serve as a stabilizer of economic equilibrium,” he added. “Washingtonians should surely be happy and content when they realize that we have come through the storm and weathered the depression that has enveloped the world practically un- scathed. 000 on Government Pay Roll. “About_80,000 persons are employed by the Federal and Municipal Gov- ernments and the total annual pay roll of this vast organization is about $175,- 000,000, which means that_every two weeks approximately $7,300000 is put into _circulation among the various merchants, banks, stores, etc., of the city. In addition to this enormous sum, millions of more dollars weekly and monthly are paid to employes of hundreds of Washington’s businesses. It is seldom realized that while the Government activities are the back- bone of the city's financial status, there are 150,000 people gainfully em- ployed in Washington not connected with the Government and this proves while they are co-related, Washington is not solely dependent on the Govern- ment. It is because of these facts that a healthy financial condition prevails ere. “It is really amazing that we Wash- ingionians do not realize that the avail- able area of the District of Columbia is being rapidly depleted, the Federal and Municipal Governments now owning over 50 per cent, and with the acquisi- tion by the Federal and Municipal Gov- ernments of dozens of squares of prop- erty for the erection of monumental buildings, is further adding to such de- pletion, with the result as stated above, the available area that can be purchased is getting smaller and smaller and it also should be borne in mind in acquiring these vast areas that hun- Greds of tenants and owners are being disl and forced to go elsewhere for sites for th-ir businesses. Of course, some of them vill purchase ground and build but the majority will pur- chase in the downtown section, thereby displacing people who are already there, ‘who in turn must find new quarters; in other words, the movement is a sort of an endless chain and it should not take #=cond sight for investors to realize that now is the opportune time to buy Wash- ington real estate at low prices which, in my opinion, will never prevail again. Unwise Purchases Cited. “Tt is true that some people here have Jost money in real estate, the same as they have in other businesses, but the ones that did failed to select wisely, in the right section or bought property ‘where they did not pay any attention to the ultimate realization of revenue as compared to the return that the pur- chase price demanded, or else their property was badly financed and they ‘would have lost money ever in normal times in view of these conditions. How- ever, on the other hand, there are thou- £ands of investors who own Wi n Teal estate, purchased wisely in grow- ing sections of the city, who will reap the benefit of their foresight n the very near future, due to the eshancement that is bound to occur on account of the marvelous development that is tak- ing place in this wonderful city. “Very few people réalize or can visual- ize what a marvelous eity Washington is destined to be and all of the adjec- tives in the can be employed and till not do-justice to the wonderful plans that are being evolved for the de- velopment of this beautiful city. With the interest of the Federal Government fenewed in the endeavor to make our city a most worthy capital of the Na- tion and with the continued stability of its economic structure, real estate men, bankers, investors, etc., should be able 1o contribute even more than ever to the developmnt of this great city. City Under Eyes of World. “The entire world has its eyes upon ‘Washington and never before in its his- tory has there been such an evidence on the part of local organizations to engage | in worthwhile efforts for the advance- ment of the city. President Hoover and many outstanding men of our Govern- ment, also have centered their attention u::flgll great c%w the end that its [ progress not be impeded nor economic existence upset. e “The belief in the stability of invest- ments in this great city surely is evinced by large national organizations and o+ churches purchasing locations for head- quarters here, as well as in the fact that the outstanding chain stores of the United States should deem it wise to lease sites in Wi 1 The Montana 1726 M Street N.W. Four Rooms, Kitchenette and Bath Reasonable Rentals T * g Buy a Home :g With All Conveniences 4 E $7,650 SAMPLE HOUSE 1825 Bay St. S.E. Between 18th, 19th, B & C Near Eastern High School Open For Inspection 6 P.M. to 9 P.M. Daily And All Day Sundays 6 rooms and bath Glass sleeping porch Front and rear porches Bath—colored tile and shower Built-in tub Built-in_wall safe SE \\\\N‘\“m\“\“\““\“w A A N R S Mirror door Bailt1n folding ioning. Built-in Cedar closet -lined G. E. electric clock Hot-water heat Hot-water storage tank One-plece washing tub Panel e wall _paper Hardwood floors board Wli:er electric dishwasher Hardinge oil burner GARAGE TERMS—$§500 Cash $60 a Month (Ineludes Interest on Both Trusts) THE EVENING STAR, WASHINGTON, Residence at the southeast corner of Brandywine and Twenty-eighth streets, which has been purchased by Fulton Brylawski from Alfred T. Newbold, builder, through the agency of Schwab, Valk & Canby. It contains 10 rooms, 4 baths and solarium and has a two-car garage. IWASHINGTON RENTAL CONDITIONS HEALTHY Most of Apartment Vacancies Are in Big Units, Management Meeting Reveals. ‘Thirty-one representatives of prop- erty management real estate offices of Washington, meeting yesterday under auspices of the property management committee of the Washington Real Estate Board, reported a healthy condi- tion exists in the renting of apartment houses and dwellings of the District at this time. Reports indicated the situation in the apartment house rental fleld was fa- vorable, smaller apartment units show- ing only a sniall percentage of vacancy and the most vacancies appearing in units of large size, it is announced. In the house rental field, it was re- ported, those on the market and un- rented for the most part are those which have not been modernized or which do noxtameel modern requirements, members said. J. F. M. Bowie of the H. L. Rust Co., was discussion leader and Russell B. King, chairman of the committee, pre- sided. This was the first of a special series of divisional meetings planned by the board. Next week the brokers’ divi- sion will hold a similar session. st Ty & Cemetery Corporation Chartered. Special Dispatch to The Star. by Gemetery Corporation, iyationiie naby Cemetery , Hyattsville, Md., has been chartered under the State laws of Maryland to operate a cemetery. ‘The capital stock consists of 500 shares common stock, par value, $10, and Richard C. Zantzinger, Sherman H. Hol- lingsworth, both of Hyattsville, Md., and Marvin A. Munger of Bethesda, Md., are the incorporators. Measures Fraction of Ampere. NEW YORK (#).—A device has been perfected for measuring a hundredth of a millionth of a billionth of an ampere of electricity. stores. When men like the brother of Secretary Mellon, Assistant Postmaster General Bartlett, Mr. Cromwell, multi- millionaire oil operator, and many other outstanding national figures, who are noted for their vision and business acumen, purchase large acreage and buildings in our city it should behoove we Washingtonians to have as much confidence as they in the future of the Nation’s Capital and to invest in it our- selves.” Can This Value 8, 7502 shower, oak floors, natural Jefferson St. 208 Investment Bldg. the North Pole the universal desire OWN YOUR farther. of desire. right ‘to 1dth _st. Steuartm!!rother; Real Estate Construction 138 12th St. N.E. Tower Bldg., 14th & K Large front and rear porches. cluded. Many other attractive {eatures. 140 feet ‘deep with garage. Paved street and alley. THE ONLY HOME IN THIS DEVELOPMENT AT THIS PRICE REMAINING UNSOLD OPEN.SUNDAY AND DAILY < Drive out 13th St., or Ga. Ave., to and east to house WM. M. THROCKMORTON C. H. SMALL & CO.’S Michigan Manor Homes From the woven wigwams of darkest / You must see these homes in Michigan Manor; you will look no Michigan Manor, the quiet, conservative community of moderate home owners, where home is not just a word; it is the consummation Take Brookland car to Michigan Ave. (end of line), walk ., drive “out Rh morth at 12th St. and right on Michigan Ave. o Idth St. CAPITAL GAINS TAX CUT IS DECLARED NECESSARY | President’s Recommendation for| Study of Subject Greeted by National Realty Group. President Hoover's recommendations | to Congress that a study be made of the economic effects of the capital gains tax and of its relation to the general | structure of the income tax law is viewed by the National Association of Real Es- tate Boards as looking toward an even- tual reduction in the present rate on | capital gains, action believed necessary by the association if the Federal revenue act is to give equitable treatment to the || real estate owner. Reduction of the capital gain rate would stimulate the liquidation of large || holdings of capital assets, particularly real estate, and would give impetus to a general movement in real estate and consequently to construction and build- ing, the National Assoclation of Real Estate Boards believes. The cut in rate would therefore not only be favorable to Regular Delivery Over 100,000 families read The Star every day. The great ma- Jority have the paper delivered regularly every evening and Sun- day morning at a cost of 13 cents daily and 5 cents Sunday. If you are not taking advan- tage of this regular service at this low rate, telephone National 5000 now and service will start tomorrow. A Good House toBuy —and the most favorable time to buy_it. Detached Corner 4832 46th St.N.W. Corner 46th and Ellicott In American University Park 5-room modern Bungalow, with two master bed rooms, tiled bath, open fireplace, hot-water heat. Attic you can easily convert. Has been put in first-class condition throughout. You couldn't reproduce it at nearly this price— $7,150--Easy Terms Open for inspection every day and Sunda; S R. M. HOOKER Tower Bldg. Met. 2663 Be Duplicated? 416 Jefferson St. N.W. 7 ROOMS (4 BED ROOMS) JAMESON BUILT Built-in_bath with wood trim. Frigidaire in- Splendid lot District 6093 £10,500 Terms New Attractive Individual Modern 4412 14th St. N.E. to the cold igloos of of mankind is to OWN HOME ode Island Ave. turn the general economic interest of the «country, but would also result in in- creased rather than decreased tax col- lections, the assoclation contends. Office Space Surveyed. Statistics compiled by the National Association of Building Owners and Managers in 32 of the largest cities of the United States where records are kept on occupied area, show an absorp- tion of 4,765,851 square feet of office space in those cities. A “conservative” timate of the amount of absorption of office space during 1931 would be 6,000,~ 000 square feet, the body reports. D. C, SATURDAY, JANUARY 10, 1931. CITE TWO METHODS IN GAINING RICHES Realty Speakers Advise Sys- tematic Saving or Buying Securities From Pessimists. The working man has but two ways to join the well-to-do class of citizen, either by systematic saving or by buy- ing from pessimists real estate and the securities based on it. This was the unanimous opinion voiced simultane- ously by 400 banquet speakers in 40 different States on January 3, when the country-wide centennial celebration of the United States Building and Loan ie was held. The date marked the 100th anniversary of the founding of the first building and loan association in America in Frankford, Pa. ‘The particular value of the system- atic savings route was pointed out by each of the banquet speakers, and their opinion was confirmed the same eve- ning by a telegram read at each of the 400 gatherings from Col. Arthur Woods, chairman of the President’s Emergency Committee on Unemployment. ‘The economic contribution made by members of the United States Building and Loan League in the past century is evidenced by 8,000,000 American homes built during that period and by a high standard of living which the activities of building and loan associations with their systematic savings plan have helped to elevate to its present status, according to Col. Woods. Picturing the possibilities for 1931, = Col, Woods prophesied the appearance of thousands of fading old homesteads with shining new faces and up-to-the- minute luxuries and as a result em- ployment and industry_stimulated all over the land. As a background for his picture, Col. Woods reported sta- tistics from some of the building trade leagues. " OUR FIRST view. Avenue cars. | 1226 14th St. N.W. Fully Detached Brick Home AT A REAL PRICE! 8 ROOMS—BATH and LAVATORY—ATTIC Southern exposure; beautiful Near all conveniences, including 14th Street and Georgia Washington’s Newest and Fastest Development of New Homes LOT 170 FEET DEEP; BRICK GARAGE Sample Open to 9 P.M. 1711 Nicholson Street N.W. Straight Out 8th Street to Nicholson Street (You Will See Our Sign) MAY CONSIDER EXCHANGE FOR SMALL CLEAR PROPERTY WAPLE & JAMES, Inc. OFFERING! igh elevation; unobstructed North 0962 || Permanent Values Homes Built to Endure In Two Choice Northeast Locations (Open Daily Until 9 P.M.) 1702 C St. N.E. Corner house facing the new 160-ft. boulevard. Seven spacious rooms, tiled bath with shower, garage. Frigid- aire. Restricted white neigh- borhood. All houses have hardwood and artistic electric fixtures. with inlaid linoleum floors. Low Price "1223 Owen St. NE. In the new Trinidad sec- tion. Just north of 12th and Florida Ave. N.E. Six large rooms, tiled bath, ga- rage. Street and alley paved. Very near in. Direct bus and car service. trim and floors, paneled walls, The kitchens are all white, Small Cash Payment Moderate Terms Robert W. Savage 717 Union Trust Bldg. NA. 6799 Or Any Broker The Greatest Value Ever Offered in Chevy Chase, Maryland P2 6303 Ridgewood Ave. $18, Ofen Saturday P.M. 900 \ and All Day Sunday - Detached all brick center hall, with every equip- ment, includind two-car garage, screens, im- ported wall paper and refrigeration. There are five bedrooms, two baths, library, attic and numerous cedar closets. This home is on a benufifully wooded lot hnving 82 feet frontafle. and is located on one of the prettiest streets in Chevy Chase. Phillips & Canby, Inc. Exclusively Natl. 4600 Investment Bldg. ARCHITECTURE CONTROL HERE AND IN WESTERN TOWN WINS PRAISES (Continued From First Page.) erally took up zoning, under the police power, in the past decade. But archi- tectural control is still new, and at- tempts to establish it must come cau- tiously, with a well built up local de- mand and backing of public opinion. Capital Held Fortunate. “Washington has fortunately been educated to the possibilities of archi- tectural control by a Volunteer Board of Review, which for several years has carefully 'scrutinized each application for a building permit for private build- ings in the District of Columbia, On this_board, called the Architects’ Ad- visory Council, local members of the American Institute of Architects, have served in rotation without compensa- tion. “Establishment_of Government con trol over private buildings in Washing- ton was at the urging of President Hoover, who said in his message to the | last Congréss: “‘Under the provisions of various acts of Congress $300,000,000 has been authorized for public bulldings and the land upon which to construct them. In consideration of these projects, which will contribute so much to the dignity of the National Capital, I should like to renew the suggestion that the Fine Arts Commission should be required to pass upon private buildings which are proposed for sites facing upon public buildings and parks. Without such con- trol much of the effort of the Congress in beautification of the Capital will be minimize ‘Telephone service between Australia %nyd New Zealand has just been estab- shed. You Can’t Duplicate This =—in value, location, character or price. 4330 37thSt.N.W, Correr 37th and Yuma Sts. North Cleveland Park New Detached Corner—Center= Entrance Colonial Only, $15,250 6 unusuel rooms, 2 perfect baths, 3 master bed rooms, 2-car built-in garage, plenty of closets, open fireplace, big attic, bright cellar, Frigidaire. Strictly up to date 'in plan, construction and finish. Near Bureau of Stand- ards. Commiunity stores and schools close by. Open 1 to 9 daily; 10 to 9 Sundays R. M. HOOKER Tower Bldg. Met. 2663 REAL ESTATE. PLAN FOR CERTIFYING APPRAISERS WEIGHED Real Estate Boards to Be Told of Proposal for Attesting Land Valuators. A proposal to create a method through which qualified real estate appraisers could be certified as such will come be- fore the National Association of Real Estate Boards at its annual meeting, to be held in St. Petersburg, Fla., January 15, 16 and 17. ‘The proposal will come before the m"h-mnumnh division by | W. York. Mr. A o mg:‘ months ago and bring the e estate. School for Jobless. MANNHEIM, Germany (#).—A visional school for jobless tween 14 and 18 years has here, and 4,500 unemployed boys and girls have been taken off the streets.” Physics, gymnastics, hygiene and lan- guages are to be taug or of real ' Nebrka e. $13,950 to $14,750 Three beautiful new center-hall residences of stone, brick and clapboard construction located in the most progressive section of Chevy Chase, D. C. Over 100:ft. frontage beautifully shrubbed. An inspection will convince you that these masterpicces are the outstanding buys among the finer homes. Built by H. P. Huddleson & Co\ Open Every Day, 9 A.M. to 8§ P.M. A. G. HUGHES Realty Associates Attention! Investors Some very unusual investment properties are available at this time, including desirable corners on F and G Streets. Our list also includes smaller properties at attractive prices for wise investors. Inquiry is invited without obligation REAL ESTATE DEPARTMENT The Washington Loan & Trust Company Seventeenth Street at G F Street at Ninth JOHN B. LARNER President HERBERT W. PRIMM Assistent Real Estate Officer In the Heart of ALFRED H. LAWSON Vice Pres't. & Real Estate Officer As: BASIL C. LINTHICUM Manager, Sales Department tant Kalorama’s 2435 Kaloram EDWARD L. BRADY Real Es > Hded Socia”y Prominent pecs This @udt English home of stone construction, splendidly adapted for entertaining, contains fourteen rooms, three dressing rooms and five family baths, in addition to four servants’ rooms and two servants’ baths. The house is equipped with dutomatic heat and electric refrigeration. There is a four-car built-in garage. OPEN FOR INSPECTION SUNDAY 10 A.M. to 8 P.M. W. C. & A. N. Miller 1119 17th St, NNW, Builders==Regltors S DEcatur 0610