Evening Star Newspaper, December 19, 1931, Page 17

REAL ESTATE ome-Owning and Building HOME LOAN RETURNS TO BE $220,000,000 BY JANUARY 1 Semi-Annual Dividends for Last Half of 1931 Due 12,000,000 Members of Building Associa- tions of the United States. EMI-ANNUAL dividends, totaling $226,000,000, will have been paid to building and loan association shareholders by January 1, re- turns for the last half of 1931 on investments of 12,000,000 sav- ing and borrowing members of the associations, the United States Building and Loan League reported today on basis of earnings statements of associations throughout the country. % Some associations are paying semi-annual dividends this month, while the majority will make their dividend disbursements on Jan- uary 1. The total also includes quarterly dividend payments in some associations to be made the first of the year, and those already made | in early October. 3 2 Pointing out that the second year of a depression phase is the test year for any institution’s soundness, H. F. Cellarius, Cincinnati, Ohio, secretary-treasurer of the league, pred_xc_ts a country-wide in- crease of confidence in general business conditions as a result of ;h@ large dividend disbursement, indicating building and loan stability in the test year. The optimistic note should be espe- ~ cially strong concerning residential real | estate, Mr. Cellarius says, citing that | earnings of the business accrue en- | tirely from lending operations in the |{ home financing field. | Normal earnings in of 1931 show that interest pay- ments on mortgage loans made by the associations are not lagging toany appreciable extent, the league secretary- treasurer explains, and adds that the experience of building and loan men shows that the home-owners' distress has been considerably exaggerated in current accounts. “While many_ agencies have been asking help for home owners and bor- S0 0BULDNG PLANS APPROVED |16 Dwellings, Several Flats and Business Structures the last half WASHINGTON, D. C, rowers from outside sources they have overlooked the fact that the semi- annual payment of building and loan association dividends is a constant aid to the home borrower in paying off his mortgage,” says Mr. Cellarius. “Every dollar that a borrowing mem- ber pays into his association for month- 1y installments on his home loan goes to | work immediately earning dividends for him. A considerable part of the divi- dend disbursement on January 1 will be credited to present home borrowers who amortize their mortgages on a monthly basis. These dividends will de- crease the amount due on these mort- gages. e “‘Savings members of the associations see in this fulfillment of their dividend expectations valid ground for confi- dence. The past half vear has seen many business units which had kept up earnings in the first eighteen months of hard times forced at last to make a major cut in their returns to stock- holders. This reacted against public confidence. . “Now into the balance to retrieve the ion's belief that recovery is already | underwzy com:es the consistent record of building and lcan associations for dividend payments showing their ability to override long disturbing conditions two years as well as a shorter period. “The one thing that makes people believe in the certainty of our return to normal business conditions in the fu- 1ure is the business which continues to withstand the shock despite prolonged stress. People naturally are eager to invest more of their funds in such a business. Building and toan associations in & third of the States Teport new ac- counts coming in faster than last year. Even last year our gain m members was twice that of 1929.” HOME LOAN BANKS BILL INTRODUCED Measure by Representative Luce | Follows Plan as First Proposed by President. Representative Luce, Republican, of Massachusetts, has introduced in the House a bill providing for the organ- ization of home loan banks as proposed by President Hoover on November 13 and in accordance With the recom- mendation in his message to Congress on_December 7. g The bill proposes the establishment ot 12 regional banks that would dis- count, for the first time, first mort- gages on homes, thus making possible the movement of what have been termed frozen assets of financial organ- 1zations. The bill follows the outline of this plan as first proposed by President Hoover, according to Harry S. Kissell, Springfield, Ohio, president of the Na. tional Association of Real Estate Boards. and it is similar to the plan submitted | last May to the convention of the as-| sociation in Baltimore. At that time | the delegates approved a resolution to study the merits of such a method of aiding realty finance i Copies of the bill will be obtained by | the Real Estate Association and mailed to its member boards for study. | Sy $150,000 LODGE PLAN | FILED FOR APPROVAL| 0dd Fellows' Chapter to Build New | Home on Ninth Street. Plans for a $150.000 lodge hall to be erected at Ninth and T strects were filed with the office of the District Building Inspector yesterday by the Grand United Order of Odd Fellows of the District of Columbia, a colored or- ganization. | The proposed building, which will be four stories in height, with a penthouse, will have a frontage of 65 feet on Ninth | street and the lot will extend back 99 feet. It will cover property at 1849 to 1855 Ninth street. | Of orick and stone construction, with | limestone front, the hall will contain 57 | Tooms. Its cubic content will be 375,000 | feet. Stores with show windows are | provided on the Ninth street side. | Albert I. Cassell. architect attached | to Howard University. is designer of the | proposed structure. Contract has not yet _been awarded. The annual meeting of the stock- | holders of the Hall Association, G. U. | O. F., sponsoring the construction of | the building, will be held Wednesday, | December 30. Begin 1932 In Your Own Home 425 Ingraham St. $9,450 7 Rooms—2 Baths Start the New Year right. Come out and see this real home buy. It is brand-new, has 7 large T0OMS, 2 up-to-date baths, large, fully equipped kitchen and is en- tirely “modern in every other detail. Large, deep lot with ga- rage. Reasonable terms. Open—Lighted—Heated H.G.Smithy Co. 1418 Eve St. Nat. 599 Ao SR S S =8 Passed by Inspector. Plans for private construction opera- tions having a total estimated cost of $250,000 were approved during the past week by Col. John W. Oehmann, build- ing inspector. Included in the new list | ot projects were specifications for 16 | dwellings, several small flats and busi- | ness structures. Approval was given also to plans for the addition to George Washington University Hospital, to be erected on its H street property. Permits issued were | for the following projects: Federal Construction Co., owners and builders Mesrobian, architect; to | erect four 2-story brick and concrete | block flats, 525, 529. 533 and 537 Pea- body street, to cost $40,000. Security 'Building and _Construction Corporation, owners and builders: P. E. Wire, designer; to erect four 2-story brick dwellings, 5200 to 5206 Fourth street, to cost $28.000. | George Washington University, own- s and designers: De Sibour Construc- | tion Co.. builders; to erect one four- | story brick and ' concrete laboratory | building. rear 1337 and 1339 H street, | | to_cost_$28,000. | 'W. C. & A N. Miller, owners and | | builders; G. E. MacNeil, architect: to | erect one 21.-story stone dwelling, 4901 Hillbrook lane, to cost $18,000. | Capitol Park Hotel, owners; Pringle | & Arnold, builders; 'to make repairs | North Capitol and E streets, to cost | $16.000. | Jacobson Bros., owners and builders; | G. S. White, designer; to erect two 2- | | story brick 'dwellings, 3618 and 3622 | Jocelyn street, to cost $14.000 | George B. Furman, owner: A. S. J.| Atkinson, architect; M. C. Owens, Vicnna, Va., builder; to erect 1 and 2 story brick additions, 1109 to 1115 Thir- | teenth street, to cost $13.500 | W, & 'A. N. Miller, owners and builders; G. E. MacNeil, architect; to | erect one 21,-story brick and frame | dwelling, 4915 Hillbrook lane, to cost | $12.400. Miss C. M. Boyle, owner and builder; | V. Maguire, designer; to erect one 1-| | story ‘brick’ mill work building, 616 L street, to cost $6,000. Sullivan Bros., owners and builders; | | George T, Santmeyer, architect; to | | erect “one 2-story brick flat, 708 Fifth | | street northeast, to cost $6,000. | | . F. B. Mills, owner and builder; George | T. Santmyers, architect; to erect one| | 2-story brick and frame dwelling, | 5447 Thirtieth place, to cost $8,000. | | _ sarah Cowdin Howe, owner; Charles R. Funk, designer and builder; to erect | two 2-story brick, frame and stucco dwellings, 1304 and 1308 Perry street | | northeast: to cose $8,000. | M. F. Burton, owner, designer and | | builder:; to erect two '1-story frame | @wellings, 3221 and 3225 Walnut street | northeast; to cost $8.000. | | . George W. Cooper, owner; C. M. | Wilcox, designer; Sears, Roebuck & | Co., builders: to erect one 2-story brick | | dwelling, 5341 Twenty-eighth street; to | cost $9.000. George E. Frazier, owner and builder; Charles E. Dillon, designer; to erect one | 1-story brick and frame dwelling, 2516 | Thirty-second street southeast; to cost $5,000. Harry Howes. owner; J. A. Absher, designer an builder; to erect one 1-story brick and tile dwelling, 2601 Thirty- second street southeast: to cost $5,000. | Tolson Kemp & Nix, owners; C. E. | Dillon, designer; Walter Evans, builder to erect one 2-story frame dwelling, 2017 Quincy street northeast; to cost $4,500. Andrew A. Anselmo, owner; C. Ham- | mer, builder; to make repairs, 604 Fifth | street: to cost $2,000. 2 BUNGALOWS _What would make a more acceptable Xmas present for your wife than a tap- ry brick bungalow, with real fireplace, ke _concrete porch, tiled shower bath, ? minutes’ drive faem Treasury. 0—S1.000 down. balance, $60 per Drive out I6th to Sheridan St. KII‘H. or Georgia Ave. to Sheridan, " G. W. CHASE 415 Cedar St. Takoma Park. Make This Christmas Your Happiest! Buy a Home —and when you buy look for substantial construction, all of the latest improvements, and a convenient location. 324 17th Place N.E. —will surely please you. It has these features and many others. You will find here four large bed rooms; many closets; a complete tile bath, extra tile lavatory to permit the arrangement of some rooms inta a private apartment; attractive living room and din- ing room and the most complete kitchen you have ever seen. The garage is built in. Restricted white neighborhood, adjoining Eastern High School. Unusually low price and easy terms. Exhibit Home Open to 9 P.M. Robert W. Savage 717 Union Trust Bldg. Nat. 6799 Or Your Broker he #p WITH SUNDAY MORKING EDITION Wesley Hcights House I Will Be Open for Third WCC ]( Tomorrow. SITUATED ON HIGH GROUND IN WOODS | Pleasing Interior Effect 153 Crcfltcd by Norman- French Motif. | | | | Continuing to draw record numbers | of homc ing citizens of Greater Washington, the new Silver Star Home, ! |at 4920 Rockwood parkway, in the| Spring Valley section of Wesley Heights, | | will be open’ for its third week of pub- | | lic_exhibition tomorrow. | Sponsored by The Evening Star as a | | dwelling designed to exemplfy the better | ideas of modern housing principles, this | palatial stone house, reflecting the in- | fiuence of Norman and French archi- tecture, was opened two weeks ago for a month of public demonstration Thousands of interested visitors already have inspected its many outstanding features. Among points of particular interest to be found in this commodious dwelling are its massiveness and stability of con- struction, close conformity to the style | of community plan, the convenience and |ivability of ‘its arrangement and the | | lavishness and stylishness of its fur- | nishings. In Spring Valley Section. i Conspicuously marked by a Silver Star sign, the home is easily accessible {rom the city. It may be reached by way of Massachusets avenue to Wiscon- sin, turning left into Cathedral avenue | and continuing through Wesley Heights and, via a paved road, to the entrance to Spring Valley. From this point the route is marked by leacing to the ! left at Rockwood parkway to the exhibit house. The home itself is mansionlike in | size, occupying a wooded lot and set black a distance from the roadway on a tise of land. The permanence of char- acter that marks its construction is at once apparent, and the visitor is im- pressed with the pleasing arrangement of the recessed doorway abutting an octagonal tower which is a feature of the outer design. constructed by W. C. . Miller, developers of “’esley‘ Heights and Spring Valley, and was | built from the architectural plans of | G. E. MacNeil. It has been furnished | for the period of the demonstration by Dulin & Martin, who have arranged the interior in a manner in keeping with | the style of the home itself. Norman-French Motif. ! A pleasing effect has been created throughout the dwelling by adoption of the more attractive form of Norman- French motif and incorporating on the interior certain features of Georgian influence which lend an air of luxuriant comfort characteristic of the style period. Included in the basem>nt plan of the house is a room of unusual interes known as the recreation room. It reached by an attractive ~ircular stair- way from the main entrance hall and through a short hallway. . The recreation room has been given | an unusual and pleasing wall treatment | of limestone. A large stone fireplace | carries out this feeling. Oak furnish- | ings are used in the room, the recrea- | tional purpose of which s’ further em- | phasized by a large game table placed | in its center. The draperies in the | room are 4 linen print in blue, gold | and mulberry, copied from a piece found in Kensington Gardens, England. | Hall Is Commodious. ‘The wide and inviting entrance hall of commodious dimensions, which is en- | tered through the extra width doorwa; ‘ is given a touch cf formality by reede: pilasters and cornice. An important phase of this portion of the house is the sweeping circular staircase built within the octagonal tower, leading to the second floor. Self-fringed green carpeting in the hall, stairway and dining room, which is immediately opposite the entrance, contrasts effec- tively with brocade draperies used at the windows on the stairway To the right of the doorway is the spacious living room, with front and side exposures, furnished in exquisite style. The dining room leads to the | flanks the landscaped garden doors from the lib; French | nter to the left 4 New Homes OpenforYourInspection In Chevy Chase 5724 Nebraska AAVC. N.W. A center hall plan. On the corner. You will like the great big living room. $12.750 5429 30th Place A home of stucco and stone with recreation room and fireplace in basement. Equipped with oil burner. $12,750 e SN TSN 5524 30th Place AllBrick Home, practi- cally arranged and heauti- fully finished. Do not miss seeing the kitchen. $13,950 AR 2712 Military Rd. A splendid example of Gothic English in an exclu- sive location well worth your examinatioh. $14.950 Easy Terms May Be Arranged on Any of ' These Homes Wm. H. Saunders CO.. Inc . [ 519 K St N.W. L Dist. 1016 O O SR IS R I Bning %iaf‘ "BATURDAY, DECEMBER 19, 1931. Section for Washington and Suburbs Silver Star Dwelling Attracts Home-Lovers/NATIONAL REALTORS PLAN | | who will talk essentially on the ever Recreation rodm in the living portion of the basement of the Silver Star Home at 4929 Rockwood rarkway, Spring Valley. of the terrace. The library is of large size and rich in its interior treatment. It is charac- terized by spacious bookshelves. paneled walls and a marble fireplace of huge proportions. It has three exposures, on the north, south and west A point of interest throughout the front door, also lead to this now open to the public under auspices of The Star. to be found on the second and third flcors. The master bed room, with private bath, is to the left of the head of the circular staircase on the second floor. On this floor also are the guest suite, consisting of a bed room, sitting room and bath and two other bed rooms with bath. A wide hallway runs eastward from the landing, from which home is its abundance of closct space a second staircase connects with the and many cedar-lined store ARCHITECTURE IMPROVES laces are | kitchen, for the use of the servants IN FACE OF HANDICAPS Quality of Designing Much Higher, While. Public Appreciation of Building Beauty Advances. BY ROBERT D. KOHN, President of the American Institute of Ar- chitects. While the past year has been one in vhich the architectural profession and the building industry have suffered from the prevailing lack of new work, indeed have had to meet very serious prob- lems of unemployment, the year should 1ot be looked upon as one entirely lost There has been progress in many fields | which should be recognized. | There has been marked improvement in the quality of architectural design. | In recent years architecture has been freeing itself from some of its historical restraints. Tradition is not ignored in the best work, but its function is under- | = stood. Much of the spirit which now animates our design is indeed informed by study of the architecture of the past, but there is less imitation of its surface indications. At the same time, we must | deplore the equally stupid uninformed aping of pretended modernisms. But _despite this fake modernism, there have been during the year dis- tinct signs of progress in architectural design and even greater progress in pub- lic appreciation of the real value of | beauty in public places and buildings. It is no longer necessary to prove to the informed citizens that the good-looking | city or building is an asset, not only sentimental but practical. If that prin- ciple were only generally accepted there would be plenty of work to do in the transformation of our American cities. Aside from actual building work, there has developed this year a better under- standing of those matters in which the architectural profession must take the lead, as in the case of the housing prob- | lem. Architects have been prominent | in the work of the committees of the President’s Conference on Home Build- | picturesque and inviting terrace which | ing and Home Ownership, some of which | have produced worth while reports. PCTRA Chevy Chase OPEN Lighted—Heated for Your INSPECTION 3109 Military Rd. $13.950 Lot 60'x107" Brand-new. all brick. 6 large rooms. 2 beautiful roomy baths, finished _attic. furnished break: fast alcove, electric refrigerator. Built by an outstanding builder and priced to sell on reasonable terms. AEAENEAEARNINENT = ¥ I~ 5428 Nebraska Ave. $13.450 6 large rooms. 2 baths. break- room. very large’ roomy Deep lot with 2-car ga- Brand-new all-brick co- Underpriced fully $1,000. See this today. CORNER 31st St. & Military Rd. $14.500 Lot 65'x107" center*hall colonial lo- camed o o farge corner lot. Solid brick construction. 6 good rooms, 2 baths, built-in_garage. Brand- Teady to move into. Come see this outstanding me value. T R R U L * oul ho H.G.Smithy Co. 1418 Eye St. Nat. 5904 2T st s de i g 5 0000000000000 00000000000 Certain constructive suggestions em- bedded within these reports should be saved from the usual fate of such con- ferences. It is recognized that a large majority of such documents are mere collections of facts about well known conditions. There are signs, however. that there may be a follow-up on the recommendations of the Committee on Design and on the admirable findings of the Committee on Large-Scale Oper- | ations. | The Institute of Architects itself has taken a step forward this year through | a new Committee on the Economics of Housing and Site Planning. Those in- terested in the study of the funda- | (Continued on Second Page.) Take a Look at 1300 Kalmia Road N.W. Large house and grounds. It is going to be sold. Somebody is going to make $10,000 on it. It may be you. 405 Colorado Bldg. Phone National 2513 | §90000000000000000000000, * 4709 Colorado Ave. N.W. Washington’s Most Exclusive Section The most drastic sacrifice in vears. A gorgeous home at nearly half the original price. Drive out 16th St. to Colorado Ave., West to Houses. Open Saturday and Sundav, Day and Night. Tower Bldg. Dist. 0853 $84040000400004000000004 9000000400000 0000000 00?000 Y 3 | nomics; whose quarters are lecated on the third floor. These quarters consist of three bed rooms and a bath room, with run- ning water in each room An exhibit of particular educational interest is in the garage cf the dwelling which is an authentic cross-setion of the construction in actual size, revealing methods followed in erection of the home. It shows clearly the manner in which the stone work is laid, the stud- ding et, insulation boarding built into the structure, plastering and metal sheathing inserted into the construc- tion, It illustrates also the method em- ployed in laying a concrete base fcr the first floor, so as to provide extra protection against noise occasionally arising from the basement of a home. ‘The committee of specialists in the fields of home planning and building who selected the Spring Valley home for a place in the Silver Star Homc serics is composed of James S. Taylor, chief of the division of buliding and housing of the Department of Com- merce; Dr. Louis Stanley, chief of United States Bureau of Home Eco- Miss Harlean James, execu- American Civic Associa- ticn Taylor, architect and builder; Gilbert Rodier, architect; Ar- thur Carr, realty appraiser and former president. Washington Real Estate Board: John H. Small, landscape archi- tect, and Rufus S. Lusk, statistician. In Virginia— Belle Haven On the Mount Vernon Memorial Highway Home Sites Homes NORMAN C. BROWN Investment Blde NA. 1818 GARDNER L. BOOTHE. 2d 106 St. Asaph St. Alexandria, Va. FIRST SHOWING 5609 32nd St. Masterpiece for 1931 Standard for 1932 . you will see the most complete home in Chevy Chase, D. C. Open Saturday, Sunday Week Days 2 to 9 ‘Realty Associates, Inc. 1427 Eye St. Nat. 8744 A CHRISTMAS GIFT IN FOXALL ® Give yourself a new home for Christmas! What season of the year could making the decision that or later . . . to give your be more appropriate for you will come to sooner family the joy and com- fort of a home of their own, in a neighborhood of charm, surrounded by wooded parks and estates and protected against future inroads of commerce or undesirable neighbors. ® Let us show you how you can reduce your pres- ent high cost of living . . . and our terms are liberal. our prices are moderate WAVERLY TAYLOR. e 1522 K Street National 1040 ’ing the minds of in BUILDING NEWS STUDY OF PARLEY TOPICS Midwinter Meeting at St. Louis January 20 to Review Pressing Problems Con- fronting Dealers. N audit of current questions and problems of the realty field will be made at the coming Midwinter meeting of the National Association of Real Estate Boards during a three-day session, beginning January 20, in St. Louis. The program, listing many well known men, has been built around the idea of assembling data on the subjects that are occupy- dividuals in the field at the present moment. Thus such topics as the effective organization of bondholders’ committees, economies for multi-family building operation and the credit situation for farmers are listed for detailed disc sion. Each branch of the real estate busi- T ness, as represented by the association’s civisions, will have a prominent speal tell the farmland brokers how to plat, T [finance and sell them. He is Arnold Folker, Wayne, Mich. He has sold popular subject of sales. How sales can Le made, what the realtor must do this .year to bring about jachievement and the importance of re- this desirable lated trends and conditions will provide | usable materfal for those who attend, according to Harry S. Kissell, Spring- field, Ohio, president of the association, who announces part of the program to- cay. Edward H. Benner, Omaha, president of the Nebraska Taxpayers' Association, formerly vice president of the National ' Association of Building Owners and Managers, will speak on “The Operation of ~Apartment Buildings” from the point of view of doing this economic- ally. This address will be for the property managers. Also, under this division will be L V. Du Bois, Cincinnati, a past 30 communities of miniature farms. The timely topic of farm financ: both for the land itself and for t supplies and equipment used by the farmer, will be presented by D. Howard Doane, St. Louis, Mo. Mr. Doane was formerly professor of farm management at the College of Agriculture in the University of Missouri and was recently in charge of the field division of the farm loan department of the St. Louis Trust Co. Home builders and subdividers will be told what methods will sell domiciles under present conditions and the sub- heads on this address will include such up-to-date factors as the “man who has aecided to wait for the market to drop” and color consciousness of the public. Taylor Will Speak. president of the Building Owners and Managers’ Association, who will be in- stalled as chairman of the Realty As- sociation's property management di- vision at St. Louis. He will discuss the | organization of property management companies or departments by realtors, These subjects will be handled by Waverly Taylor of Washington, D. C., who is a member of the Appraisal Com- mittee of the Washington Real Estate Board. president of the Operative Build ers' Association of the District of Co- stressing the interesting and important | lumbia and a member of the Executive subject “How to Get New Tenants” | Committee of the National Real Estate A man who has made a specialty and | Association’s_home_builders and subs success of selling “little” farms will (Continued on Second Page.) GREATLY REDUCED 1708 Taylor St. This house was built to sell for $21.730—owner does not want to carry house over until Spring, and has decided to cut this price several thousand dollars. A new center-hall tapestry brick house, one block from 16th Street; 8 large rooms, 2 baths, fine large att'c. also large light cellar, built-in garage. Ofpen for Inspe ction Sunday Tower Bldg. & Horning Dis. “The Way to Beautiful Homes" A Furnished Colonial Home in Shepherd Park 7809 Morningside Drive N. W. The Colonial wall paper, the pan- eled library, the attractive fireplace and mantel give this home its atmos- p]’lere. yet it is truly modern in every detail, from its special kitchen equip- ment, large basement recreation room, gas furnace and extra large bed rooms with ample closets. And you'H agree that the price and terms of this home are exceptionally low in comparison to the character and fine quality of the workmanship you will find in it. Drive out l6th St. to Alaska Ave., to Morn;ngside Drive. turn left 3 blocks to 7809 Morning- side Drive—an aristocratic address. Furnishings By D. S. POOL