Evening Star Newspaper, November 28, 1931, Page 19

R EAL ESTATE. THE EVENING S'i 'AR, WASHINGTON, D. SATURDAY, C. NOVEMBER 28, 1931. EASIER FINANCING SEEN ASNEGESSTY Economic Service Declares Hoover Plan Will Aid Home Building. Experts continue to analyze the cur- rent financial situation as attention is directed in realty and construction fields to the plan proposed by Presi- dent Hoover for creation of a system of recissount mortgage banks. | Improvem-nt in the financing of | building will come, in the opinion of > Brookmire Ezcnomic Service, Inc., when the general financial situation eases.” So far, this service reports, it is held by some that there has been only a slight decline in the figures of money in circulation, and that when hoarded currency really returns to banks on| large scale, the willingness of institu- tions to lend on desirable projects will | ments for the anrual mecting of the District of Columbia Building and Loan | Council, to be held Tuesday evening at the Willard Hotel, which 400 local Sharp reductions in costs must also interests and 100 guests from various sections of the country are expected to increase precede any building revival, mire contends. Brookmire Statement. | Regarding the general building | Brook- | situation and the effect which the homes mortgage banking plan may ve, Brookmire states, in part “Basically, our troubles are caused not by a shortage of credit, but rather by the previcus excessive and mis- guided use of credit—not merely in building, but in every other field as well. The whole financial structure is consequently clogged with frozen credit. . | “Having tried to obstruct natural | deflation, we have hampered the nor-| mal process of getting people in liquid | condition where renewed activity can be undertaken. As a result, recovery in building is retarded. especially since ‘we do not have the accumulated short- age of housing that existed in 1921, but have, at the most, only local shortages. “Under the Hoover plan the public will remain as badly indebted as ever, but some pressure Wwill be relieved where help is given to institutions that are badly tied up. The immediate field in which assistance is to be extended 1s homes where mortgage loans eligible for rediscount do not exceed $15,000. In estimating the importance of re- vival in home construction. the Dodge contract figures are enlightening. Laws Are Necessary. “In the past decade—the hectic 20s —the residential group shows that apartments averaged approximately $1,- 100,000,000 a year—most of which amount does not come under the plan. One and two family structures totaled about the same figure of $1,000,000,~ 000 a year. These are abnormal fig- ures, since this period included the m era. Congress must pass the necessary legislation, and before all the machinery is set up the major part of & year may elapse. “Aside from the direct effects, the psychological side must be considered. ‘The President is reported as believing | that ‘the volume of credit he seeks to stimulate totals between $20,000,000,- 000 and $30,000,000,000° However, there is little hope for the many mort- gage bonds that are in distress be- cause they were based on inflated values. Unfortunately, too, the con- tinuous dosing of favorable psychology, to which the public has been subjected ever since 1929, is rendering them im- mune. “President Hoover's mortgage bank- | C ing system will tend W straighten the chances of residential building in majk~ ing best recovery of the various GOVERNMENT BOOKLET GIVES BUILDING HINTS Pointers Compiled by National Committee on Wood Utilization. Builders interested in promoting better construction as a means of stim- ulating the urge for home ownership will find many worthwhile pointers in the latest publication of the National Committee on Wood Utilization, ac- cording to Leonard P. Reaume, past president of the National Association of Real Estate Boards. The booklet, made available through the Department of Commerce, describes house insulation, its economies and ap- plication and is designed to show means of reducing needless waste and to pro- mote good construction methods. Twelve experts on building and housing prepared the report which deals with all types of insulation ma- terials. LeRoy E. Kern of Washington, representing the American Institute of Architects, was chairman of the com- mittee. The document may be obtained from the Government Printing Office. 7-RooM HOMES At the Price of a 6-Room House U Plan Building C. Clinton James (left) and William attend. Loan Session S. Quinter, who are completing arrange- MORE HIGH SCHooL. | BULDING EXPECTE Population Changes to Result in Fewer New Primary Institutions. Changes in population age groups and social life in the large urban centers of the United States as reflected in the 1930 census will result in the building | of fewer new primary schools and more for advanced and adult education, it is predicted by L. Seth Schnitman, chief statistician for F. W. Dodge Corporation. ‘The loss that appears imminent in graded school construction will be coun- teracted to a large degree by gains in junior high school and high schools, he believes. 5,000,000 Under 14. According to the 1930 census, he re- ports, approximat:ly 5,000,00) children under 14 years of age were attending | school in the 93 cities having 100,000 or more inhabitants. This school popula- tion group represented about 65 per cent of the total school-attending popu- lation of all ages in those same 93 cities. Citing the importance of school con- struction to the building industry, the statistician reports that schools and colleges constructed during the years 1921 to 1930, inclusive, in the 13 largest cities of th> country were valued at approximately $950,000,000. Relation May Hold. During this same period, $9,70,000,000 worth of new residential building of all descriptions was constructed in those same centers. Thus for each $5,000 of new residential building approximately $500 was expended on new schools and ol g 'g:f: relationship may be expected to hold approximately for the decade that will cnd with 1940. But the total dollar volume of new school and college construction will in all likelihood fall substantially below that led for the preceding decade, unless further large extension in education and its facilities particularly for adult educa- tion, as well as large replacement of existing old, outmoded, hazardous facil- ities is undertaken during the interim,” Schnitman said. METHODIST BOARD BUYS PROPERTY IN NORTHEAST Residence at 113 First Street Northeast Acquired by Church Organization. ‘The residential property at 113 First | street northeast has been acquired by the Board of I'cmpearance, Prohibition and Public Morals of the Methodist Epis- copal Church from Lottie Schubert, ac- cording to a titlz transfer recorded with the District recorder of deeds. The property is near the headquar- ters building of the Methodist board at First street and Maryland avenue northeast and its new addition. Benjamin S. Minor and William M. ‘Throckmorton were named trustees in the financial tiansaction involved In the dealing. RECREATION ROOM Completely Finished AN EXTRA ROOM AT NO EXTRA COST @® An extra room 17x20 ft. c ment. Just the place for a Textured walls and ceiling, windows, heat, finished stairway, floor plugs. and finish h spacious room. of construction utility of th 4th and FARRAGUT STS. N.W. | 8,950 Colonial, variegated, npenry.brick fronts with Mansard SMALL CASH PAYMENT roof, wll-brick construction, 7 spacious, well-planned tiled drainboard, fold-away di control, model gas range, electric clock, I . . . De luxe bath with colored tile and colored fixture: st built-in equipment, spacious rooms with large ¢ dwood floors throughout, cop) lal extra floor plugs . . . screens, metal « . . Red Jacket heating plant, Top” counter-balanced one-pi paved and paid for by Cafritz. e e 14th & K rooms, witl and green color scheme, built-in cabinets, weather stripping, CAFRIT " ompletely finished in the base- der or for your entertaining. modern lighting fixtures, two Every detail added to the beauty and TERMS LESS THAN RENT wide covered porches . . . a model kitchen in buff k with double aire with cold oleum flooring nd nette set, Fri double-floor construction built-in garage with “Over-the- joor . . . Street and alley Dist. 9080 | welded T CONSTRUCTION HOLDS UP Building in Canada This Year Compares Well With Last. Building activities throughout Canada during the first 10 months of this year compare favorably with the level at- tained in the corresponding period of | 1930 despite lcwered costs of building ( materials, which maikes somewhat dif-| ficult comparison cof the scope of con- struction this year and last. | Reports, Ltd., aluation of new con- | struction in Canada at $505,862,300 for the first 10 months of this year. This compares with a valuation of $558,607,- 800 for the same 10 months of 1930. WELDED JOINT TEST DEVICE HELD NEED Civil Engineering Teacher Declares | Stronger Skyscrapers Would Be Result. Riveting hammers would be silenced | within five years and the strength cf | skyscrapers increased if an inspection | device could be perfected for testing joints, according to Ray C. Brumfield, professor of clvil engineer- ing at Cooper Union. The welding process is not only more durable, he says, but it probably would prove cheaper in building construction. The lack of certainty as to the qual- ity of a weld after it has been made is the stumbling block in the way of the new method of joining sections of steel” Prof. Brumfield reports. “There is no question of its superiority | over riveting. “It is impossible to build a riveted joint stronger than the steel which is being united, or for that matter, even as strong. In a weld, the point of union may be made stronger than | the plate itself. “The necessary instrument for cal- | culating the strength of welds will no | doubt be developed. The best method in use now is the judgment of a skilled expert. In an effort to eliminate the human element as much as possible some firms contracting for welding make constant laboratory tests of the finished joint. They declare that workmen do thelr best only when they know thelr product is constantly being | exposed to_inspection. SPECIALIZING 1w FAIRFAX COUNTY N\, PROPERTIES TELEPHONE | ALEXANDRIA 3aFs We have several very beautifully situated acre- ages fronting on the Mt. Vernon Blvd. and the Potomac River Suitable for country es- states or high-glass devel- opments. These .propertics .are .within 30 minutes drive of the center of the Natlon's Capital. through the first completed section of Washington Memorial Parkwas. which ~ will ultimately extend from Mount Vernon to the Great Falls of the Potomac. These tracts can now be very altractive prices, which not_believe will he ‘possible after the offiefal opening of the Boulevard mext Spring. had at we do it e — e e L S e built-in heaied garage; all outside ing doubly insulated with Balsam B ® OVER 3,000 LIFETIME HOMES BUILT AND SOLD e 1443 Holly St. N.W. 1339 KALMIA Wood; gas heat, large electric refrigerator. MFADDEN T0 TALK AT LOAN BANQUET Annual Meeting of District Association to Be Held December 1. Representative Louis T. McFadden, chairman of the Banking and Cur- rency Committee of the House during the past session of Congress, will address the annual banquet meeting of the District of Columbia Council of Building and Loan Associations. Another guest speaker will be Wil- liam E. Best of Pittsburgh, Pa., presi- dent of the United States Building and Loan League. Special Guest: Among special guests will be Repre~ sentatives Guy E. Campbell of Pennsyl- vania and John B. Hollister, recently elected to the Ohio seat formerly held by the late Speaker Longworth: Dr. John M. Gries, executive secretary of the President's Conference on Home Building and Home Ownership, and a number of the officers cf the United States Building and Loan League and Tepresentatives of various State leagues. Arrangements for the event, to be held at the Willard Hotel December 1, are being completed by a committee consisting of C. Clinton James, chair- man, past president of the national body: Chapin B. Bauman, president of | the District Council; Carl J. Bergmann, William S. Quinter and Edward C. Baltz. The meeting is to be the largest, gathering of building and loan_ men | here since the convention of the United | States League was held in Washington | in 1914. Among women building and loan executives invited to attend the gather- ing are Miss Ann E. Rae, Niagara Falls, N. Y., a past president of the United States League: Mrs. D. E. Crary, secre- tary of the Minnesota State League, and | Miss Isabelle F. Henderson, secretary of the Reilroad Co-cperative Building and Loan Association, New York City. Among the others expected to attend are James A. Devine, secretary of the Ohio State League; Emil A. Gallman, secretary of the New Jersey League Ward B. Whitlock, secretary of the II nois League; Neill Davis, secretary of the California League; George F. Ogden, | secretary of the Indiana League; Paul B. Morrison, secretary of the Kansas League; Warner M. Allen, secretary of the Massachusetts League; George A. Plant, secretary of the New York League; John F. Mahr, secretary of the Oklahoma League; George W. Cliffe, secretary of the Pennsylvania League, and Walter B. Hilton, secretary of the West Virginia League. Least Attractive to Barnacles. Ship hulls are being painted white | because tests show that this color is tractive to barnacles. Buy a Home With LAUDS ARCHITECT Writer Gives Credit for Return of English Gothic Types to U. 8. Credit for the return to the United States, about 40 years ago, of the Eng- lish Gothic type of architecture, and later of other eiements of medieval architecture as developed in ce and Spain, is given to Ralph Adams Cram by Arthur Tappan North in a newly published series of monographs. Mr. North, formerly editor of the American_ Architect and the Archi- tectural Forum, in the first of the monographs, dealing with work of out- standing architects of this country, points_to St. Thomas' Church in New York %nd the new buildings of the United States Military Academy at v;/gesz Point as examples of Cram’s de- signs. ENGINEERS’ GUIDANCE SEEN FUTURE NEED Means to Reduce Wastes of Distri- bution Outlined by Con- tractors’ Head. Fewer smokestacks, more schools and the guidance of the engineer will brighten the human highways of the future, A. P. Greensfelder, president of the Associated General Contractors of America, declares in an Engineer- ing Foundation symposium on “Bene- fits From Engineering Progress.” “We talk today of overproduction. ‘We lament overexpansion of facilities for the production of goods. Then why not more homes and schools and hos- pitals, and better highways to make them accessible, bridges to span the gaps of time as well as space, the sow- ing of ideas as well as seeds?” he asks. “Production is three-fold: Articles to be consumed, wealth in private structures, and community facilities. Engineering minds are constantly elim- inating wastes of production. By steadily improving railroads, highways and other means for carrying goods, they have brought costs of transporta. tion to amazingly low figures compared with those of pre-railroad days. “Engineers should now, with even greater concentration, devote energy to reducing wastes of distribution. “Engineering methods, properly util- ized by business men, should be help- ful in reducing the costs of merchan- dizing, just as they have been helpful in cutting costs of producing goods, power and light. Engineers will be found ready to co-operate in solving the problems of merchandizing. Rehearsals for Play Planned. By a Staft Correspondent of The Star. HYATTSVILLE, Md., November 28— Members of the newly organized Mask and Wig Club of Prince Georges County vill soon begin rehearsals on a play, it was decided at a meeting in the home of Richard Thomas here. Newly-admit- ted members of the club were special guests at the meetin, All Conveniences $7,650 Sample House, 1 Salesman on Premises Daily Until 9 P.M. 6_rooms and bath Glassed sleeping porch Front and rear porches Bath—colored tile and showers Built-in tab Built-in_wall safe Mirror door Built-in telephone eloset Built-in dining set with benches Cedar-lined closet 837 Bay St. SE. Between 18th. 19th, B & C Sts. S.E. ar, Eastern ‘Hieh School ire Walker electric dish washer r a modern fireplace Fluid heat—noiseless oll burner Exira Beaw in csol, 20 The. ARAGE BUY AT YOUR OWN TERM Steuart Brothers, Inc. Real Estate Construction 138 12th St. N.E. Waple & James, Sales Agents A New Bric k Bungalow Just Completed 412 Turner St. (Just Off Brookville Rd.) CHEVY CHASE, MD. Price $9,500 Just what you have been looking for. dining room, large kitchen. two Eed roo brick with brick steps: 2nd floor unfinished, roughed in for 3 rooms and one-car garage; large lot Large living room. open fireplace, ms and bath: two porches. {ront poreh ath; Open for Inspection DL 8888 Markham & 1 i | ; i i | i ¢ i fi l g A Be'H'r omeA Beer Value Six rooms, recreation room, two beautiful baths, walls and ceil- ‘Wool and Nu- A STREET N.W. Open porches, Armstrong’s grade A linoleum, copper gutters and flashing, copper screens, metal weather-stripped; finest construction throughont. Drive out 16th Street to Kalmia Street, then two blocks east HENRY J. CONNOR “A Particular Builder for Particular People” 229 Barr Zirkle, Inc. “gigg, e il ke o8 REMODELING FOR CLUB Ball Rooin of O1d Draper Residence Has Been Leased. ‘The large ball room of the old Draper residence, at Connecticut avenue and K st ., has been leased from Joseph Himes, owner, by interests now re-’ modeling the place for the Club Mon- | martre, to be operated by Alfred | Kamons, Washington orchestra direc- | tor, and La May and Louise, vaudeville | artists. Extensive redecoration and alter- ations now are being made to mod- | e the rcom while at the same time | reserving the decorative French period | ines of the room, where many a fash- | ionable social function has been staged in days past. Among features to be | retained are the gold leaf application | to the ceiling and the stained glass of | Pompadour design, it is re : | The residence was built as the home | of Alexander Shcpherd, the last Gover- | nor of the District of Columbia. The | ouse also in the past has been occu- | pled by Baron Rosen of the Russian embassy, the Chinese legation, Mrs: | ‘Washington Mc]lx.ean and Senator Don Camerot W the Draper fami Fully Detached Homes That Are Different YOUR CHOICE COLONIAL OR ENGLISH TYPE, 7 OR 8 ROOMS 2 COMPLETE BATHS Sample Open to 9 P.M. 6810-6814 9th St. N.W. (Out Ga. Ave. to Aspen St., One Block East to Sth St., Just South of Walter Reed Hospital) You will not find the equal of these distinctive homes at the low price asked. Built by S. EIG CONSTRUCTION CO. Waple & James, Inc. 1226 14th St. N.W. North 0962 REAL ESTATE. CONSTRUCTION DROPS Construction contracts awarded dur- ing the first 15 days of November in the 37 States east of the Rocky Moun- pared with $129,312,000 in the eorre- sponding period of 1930, F. W. Dodge Corporation reports. Non-residential building accountad for $25,991,700 of the half-month total and tains amounted to $70,150,800, as com- | residential projects for $22,308,5CC. A Single Error May Affect Your Own Home It is so easy to make a mistake in copying records 7 when mentally fatigued. misspelled names, omitted lines, any one of these may vitally affect the real estate title to your own home; unless, of course, you have a policy of title insurance which guards you against this margin of human fallibility. assures you of your ownership. You know you insured. ‘Whenever you buy or lend on real estate a New York Title policy is always your best policy. NEW YORK TITLE own it when the title i Transposed figures, It AND MORTGAGE COMPANY Capital Funds over $64,000,000 810 15th Street, N. W. (Shoreham Bldg.) Phone: Metropolitan 3900 A. W. Hoover, Assistant Secretary in Charge T 3202 KLINGLE ROAD N.W. On a Lovely Landscaped Lot 190 Feet Deep Unexcelled The National Location Near Cathedral This Individually Built Colonial Home at an Unusually Low Price CLEV., 1948 Constructed under the supervision of one of Washington's best known architects; built of the very best materials for its owner, who has left town; some one is going to get this magnificent home with all of its modern appointments at a price that it cannot be duplicated for today, certainly not in this highly desirable residential section. Featuring 4 bed rooms, 2 baths on second floor, electrical refrigeration, 2-car garage, ofl hélt, screens, weather stripping; third floor finished with 2 rooms and bath. OPEN SUNDAY 11 AM.—6 P.M. Newbold, Canby & De Neale, Inc. Exclusively 2 Wesley Heights The Garden Spot of Washington that quality of intangible It is difficult to express appeal which Wesley Beights 5626 CONN. AVE. affords to the Discriminating PLANNED AND DEVELOPED BY W. € X4 9. Miler 1119 17th STREET N.W.