Evening Star Newspaper, January 16, 1932, Page 17

REAL ESTAT: E % @hg éngnin giaf‘ SATURDAY, JANUARY 16, 1932. LOAN REDISCOUNT BILLS GIVEN REALTY SUPPORT\l Harry S. Kissel, Head of Real Estate Board Associa-| tion, Appears With Ot to Back Hoover M system of Federal home loa hers at Senate Hearing | ortgage Bank Plan. ‘ = \ UPPORT for the plan of President Hoover for the creation of a n rediscount banks, which now is S pending in Congress, came from s:veral sources this week. | The proposed home mortgage banks will assist in the| financing of small dwellings and bring credit again into the real| estate field, it is stated editorially in the journal of the American | Bankers’ Association. . | Several individual bankers and Harry S. Kissel, Springfield, Ohio, | resident of the National Association of Real Estate Boards, came to | Washington this week to voice their advocacy of the principle of the | plan in hearings before a Senate committee which is considering | egislation on the matter. The statement by the Bankers' Association in its current publication was made in connection with a brief discussion of the present outlook for real estate, in which it was declared “Building costs have been deflated to & marked degree, labor is vastly more productive and a great deal of public work is being done by State and mu: nicipal administrations, as well as the Federal Government “Just how soon a genuine revival in the real estate market may be expected is difficult to say; much depends on restoration of general business activity and profits. * * * “High governmental costs and taxes have become a heavier burden than ever before, due to the decline in the c ing power.” Testify at Senate Hearing. American ¥ Kissel of the national realtor body and other advocates of the home loan banking system pro- posal testified before a subcommittee o the Senate Committee on Banking and Currency, which was considering the bill introduced by I ana. The witnesses stressed that the pro- posed plan was as important as a per- manent part of the national financial siructure as it was as an emergency ineasure. Mr. Kissel further declared there was & need for the proposed home mort- gage banking system and asserted his unqualified belief that it would func- | tion satisfactorily. The proposed home loan banking system was discussed at the annual convention of the National Association | of Real Estate Boards last May in Bal- timore and a detailed study of the matter was authorized. More recently the executive officers of the nztmnnl] body approved in principle the plan of President Hoover. Testifying_before the Senate com- mittee, Mr. Kissel said 1 am not speaking for the builders or for benks. 1 am speaking in sup- port of this bill from the standpoint f the relief it will afford the thousands thousands of small home owners | e been trying to pay for their s by monthly payments. | or¢ is no reason why the Federal | ament should not lend its help. rce and industry have a great of credit in the Federal Re- stem to which their bsnkersl the private home owner can | do that, for the agencies with he deals have no source of new and credit is dried up at this | President u w Ror c C r p< no w b t m Others Sponsor Measure. Others sponscring the enactment of the measure included John S. Hill, Durham, N. C., banker; H. C. Robin- son, Cleveland banker, and Fred G. Stickel, jr., Newark, N. J., representing the United States Building and Loan League. Harry E. Karr, Baltimore, Md., on behalf of the Baltimore Real Estate Board and the Maryland League of Building Associations, appealed for modification of the measure so 85 to enable Maryland associations to par- ticipate. He said that under the word- ing of the bill—the existence of the ground rent leasehold tem and come othe nstead of fee simple titles— su ons would not be allowed to subject to the rediscount activity. Further amendment of the measure was regarded as necessary by Senator Couzens of Michigan,- and Senator modity price level and in purchas- | Senator Watson of | sections of | FEW ZONING PLEAS FILED FOR HEARING Less Than 10 Applications i Put on Commission Record for February 3 Session. Less than 10 applications for changes in the zoning classifications | of Washington properties had been filed before this morning with the District Zoning Commission in prepa- | ration for the first zoning hearing of the year, to be held in the board room | of the District Building February 3 This is one of the smallest lists of | proposed zoning changes ever to come | | before the zoning body. However, last | minute petitions, filed today and | Monday, may run the list into a larger | number. | One of the important petitions is| for the change from first commercial, 110-foot D area classification to resi- dential 90-foot C area, for the prop- | erty at 1826 Massachusetts avenus, | just below Dupont Circle The peti- | tion is presented for Mrs. Charlotte E.) | Hopkins. The property is to the east | | of the new hotel building south of | Dupont Circle, between Connecticut | avenue and Nineteenth street and to the south of the Wadsworth property | fronting on Massachusetts avenue and P street and east of the circle. A petition for changing the classi- fication of the entire frontage on the north side of Sheridan street between Thirteenth and Fourteenth streets, from residential 40-foot A restricted area and residential 40-foot A area, to residential 40-foot B restricted area, is filed by Ringgold Hart for R. S. iron. Gawler & Sons Appeal. Joseph Gawler & Sons have renewed the petition for changing the classi- fication of the property on the east side of Wisconsin avenue between Western avenue and Jenifer street | from residential 40-foot A restricted | area and first commercial 60-foot C area, to second commercial 60-foot C area, which would permit construction of a funeral chapel. At the last meeting of the commis- sion permission was granted for the changing of this property to & first commercial classification, which car- ried the requirement that consents be obtained from adjoining property own- ers before such an establishment be erected there. Flias Gelman asks that the south- east corner of Third and T streets be | changed from residential 40-foot D | area to residential 60-foot C area, which would permit the construction of |a five-story apartment house. In 1930 | | the commission refused petitions for both second commercial and first commercial classifications for property at this location. Officials of the Columbia Hospital | for Women and others interested have | asked for a change of the classification | of the zoning of two lots on the east| side of New Hampshire avenue between | R and S streets from residential 60- foot B restricted area to residential | New Homes in Greater Washington Area Purchased GROUP OF RESIDENCES AMONG Upper, left to right: Residence at 9 East Thornapple from Tower & Holthaus, builders, the house containing ni Francis M. Boucher at the northwest corner of Thirtieth place and Military road, built by H. P. Huddleson Smith Co., which contains six main rooms and two baths. THOSE RECENTLY TAKEN HERE. trict Maintains Level of BUILDING NEWS B—1 PLANS FOR 20 DWELLINGS APPROVED DURING WEEK {Total of New Building .Operations Planned in Dis- Weeks of Past Month. Studio and Office Building Planned. LANS for the construction of 20 private dwellings in the District of Columbia were approved by Col. John W. Oehmann, building i P | 5 | inspector, during the past week. The total cost of all new operations was estimated at $262,170. The total for the week | was lower than that for many similar periods of 1931, but maintained about the same level as that for the weeks of the past month. The largest item in the new list of local operations was the con- struction of a three-story brick studio, office and show room for Niepold’s, Inc., at 1231 Twenty-third street, having an estimated cost of $50,000. Warren Spencer is listed as the designer and builder of street, Chevy Chase, Md., purchased by Harold G. Haydon, through the agency of Edw. H. Jones Co,, Inc., ine rooms and three baths and having a two-car garage and a lot 75 feet by 130 feet; and the home of & Co. and purchased through the agency of H. G. | Lower: Residence at 7809 Morningside drive, Shepherd Park, purchased by Mr. and Mrs. Wilfred C. Gilbert from L. E. Breuninger & Sons, builders, the house containing seven main rooms and two baths and having a two-car garage, on place, built and sold through the agency of Waverly Taylor, Inc. The former has been purchased by ter purchased by John R. Minter of the Western European Affairs Division of the State Department. rental of $10,500, it is_announced by Shannon & Luchs. The same office Teports: The lease for the gasoline station property at 3054-3056 Mount Pleasant street has been extended for a period F STREET PROPERTY LEASED BY R-W FIRM Business Property Is Taken Over| by West Haven, Conn., 500 and transferred to Henry A. Saylor. The property is owned by Frank V. Killian. The Kogod-Dubb Co. has leased Coner from Joseph Ornstein for a term of the store property at 1605 Fourteenth street. The business property at 3219 Mount Pleasant street has been leased by Cohen Cleaners & Dyers from Harry Viner for a term of two years. Business property at 1307 F street | has been leased for a period of years | by Carroll Co. of West Haven, Conn., from the R-W Realty Co., Inc., of New York for an undisclosed rental con- sideration, it is announced by the of- fice of Shannon & Luchs, Inc., which handled the transaction. Store premises at 1524 Connecticut avenue has been leased to Lerch’s, Inc., | for a term of years, from Will H.| Towles, it also is Teported by Shannon | & Luchs, Inc Gartrell & Scates have leased one of the stores in the “Park and Shop” development at 3509 Connecticut ave- | nue for a term of five years at a total $9,950-00 An American corporation is establish- ing an air service between Madellin and Aruba, Colombia. New Detached Home Was Built to Sell for $16,750 Now Priced at $2,000 Less Well Worth Your Inspection 3712 Yuma St. N.-W. Open Every Day to 9 P.M. Wm. M. Throckmorton Invest. Bldg. DIst. 6093 of five years for a total rental of $13,- | two years, at a rental of about $6,000, | 3 | Exceptional 60-foot C area, which would permit the | construction of an apartment house. Morrison of North Carolina. S WIL[ SPEAK ON JOY George Farnham Announces 1708 Taylor St. & rooms, 2 baths, built-in garage. All'modern conveniences. Price, $18,500 MAX SUGAR Owner—Builder Adams 0546 Rev. Tomorrow’s Sermons. “Diminishing Returns of Joy” will be the subject of the sermon at the Cleve- | land Park Congregational Church by the pastor, Rev. George Farnham. The Christian Endeavor Society will be led | by Herbert Martyn, jr., with the sub-| gect “War or World Brotherhood? | The midweek meetings will be re- | sumed January 21. “The Pastoral Epistles” will be the subject for study. | - $7,500 TO SETTLE AN ESTATE 808 Taylor St. NW. Near Grant Circle Value Combined With Colonial Charm and Modern Comfort Imposing new brick Colonial horges, containing three to five bed rooms with two baths. NEW HOME 1342 Sheridan St. N.W. One and a half blocks east of 16th Btreet, south of Walter Reed Hos- Seven large rooms and large Kitchen, tile bath and shower, front’ porch, entrance hall, replace, 5 big lighted closets foor, " attic, metal weather- #as 'furnace, built-in heated igh elevation. close to s, Catholic and Protest- nd transportation. Heated and lighted until 9 P.M. daily Phone Georgia 9815 A cheery recreation room e of the delight- home Seven rooms, two hs, 2-car garage, $13,950 =i w Drive out Connecticut Ave. to Chesapeake street, turn west (left) two blocks to exhibit home. 3627 Chesapeake St. Open All Day Sunday Wakefield, Inc. 1909 M Ave. CLeve. 9837 Saturday, Sunday, OPE 2 11 to 6 Semi-detached brick house 24 feet wide. Lot 40x130. Four full bed rooms. Attic over en- tire house. New hot water boiler. New auto. water heater New window shades. Refrigera- or. Garage. Will finance without cost to purchaser. F[_SCHER & COM[ZAISI 6321 Meadow Lane Ghevy Ghase Md. “The most beautiful street in Chevy Chase, Md.” Chevy Chase, D. C. 5504 Nebraska Ave. New—Artistic A beautiful center-hall brick and stucco home on & wooded lot of 70 fi. frontage is offered st a figure many thousand dollars under cost to e 3 large bed rooms and 2 baths second floor and room and bath in basement for maid "This lovely home has just been put in perfect condition and will require not one cent's outlay for the best of living. The equipment consists of new ¢lectrical refrigeration, new gas range and imported wall Daper on downstairs rooms. All brick: 8 rooms, deep lot. D i stinctive. Latest features. Den floor lav atory. and 1lst Q-car garage. $14.500 Edw. H. Jones & Co., Inc. 5520 Conn. Ave. A low fgure— $15.450 Phillips & Canby, Inc. Exclusively 2954 Northampton St. s pu. $12,950 J. WESLEY BUCHANAN REALTOR Eve st Metro Open till 1427 14 ‘ ENGLISH HOMES IN FOXALL ® Double-fronts rooms, with one baths but 10 the White House desirable neighbors . , ture commended . electric refriger console gas rnge, copper screens etc., . . . outstanding value at $11,350 to $14,950, with monthly payments less than rental value. Visit our Furnished Model Home at 4400 \/onha r;!aéa three short blocks south o eservoir Satl 930 Pag, i O six and eight two and three minutes from . unusually . architec- .. gas heat, g WAVERLY TAYLOR e Clev. 2300 Na. 4600 Investment Bldg 1522 K Steet Notl 1040 Chevy Chase, D. C. 5701 32d St. (Cor. Northampton $14.500 New, ALL BRICK Colonial. Center hall plan. 6 rooms, 2 baths. Attic fully celotexed. Built-in garage. Elec- trical refrigeration. Breakfast room. st.) SEE IT SUNDAY Edw. H. Jones & Co. INC. 5520 Conn. Ave. Clev. 2300 Best Detached Brick Buy in Washington 4209 18th St. N.W. $15,950 rnished and Open for Inspection i il 9 P.M Priced over $4,000 below' purchase price one year ago, and in perfect condition. Built by L. E. Breuninger & Sons, and containing three large rooms and porch downstairs and four Teal bed rooms on second floor. Two complete baths, with shower, open fireplace, new ofl heat burner. Attic over entire house. Beautiful shrub- bery, rock garden and pond. Garage, paved street and alley. An inspection “will convince you that it is the be s t buy on the market today and one of Wash- ington's best all-detached Drive out 16th St. to Va to 18th St. and turn left Best Row House Buy in Washington 818 Emerson St. NW. $8,350 n for Inspection Daily till § P.M. O by Walter Dunigan, and sold at & price including improvements At about $10,500. Full 20 ft. wide, 6 extra large rooms. glassed-in sun- parlor, and bath. Every modern im- provement, including hardwood floors throughout. Tge U eeried porches, Weatherstrip- ped. Screened and Awnings. Beauti- Pul yard, mew garage. Paved street and alley. Splendid condition, va- cant, ‘ready to move into. Drive out foday and see a real home at a sac- rifice price. METZLER, Realtor Exclusive Agent 1106 Vt. Ave. N.W. DEcatur 5800 Sundsy snd Nights, ADams 0620, rnum, west Bbalf block. a lot 50 by 110 feet; and two group dwellings in Foxall, at 4425 and 4427 Volta a local investor and leased to Hubert F. Young and the lat- FIRM MARKS FOUNDING The forty-fifth anniversary of the | founding of the real estate, loan and insurance business here of Jesse L. Heiskell was celebrated yesterday by the personnel of the organization at home value ORE home for the ‘money than you would believe before looked through it! fine rooms. two . 2-car garage, fireplaces, large recreation room in basement, electric refrigeration, Branch Road—easy terms! 3217 Jocelyn Place $15,500 Open till 9 P.M. J. WESLEY BUCHANAN Realtor 1427 Eye St. PAYMENT the office of the firm, at 1115 I street. The firm was established under the name of Heiskell & McLeransand since the death of Mr. McLeran, in 1910, | Mr. Heiskell has conducted its business. COME and SEE The Greatest Value Ever Offered in a Home 1802 Wyoming Ave. Formerly Sold $13,500 NOW ONLY $8,950 9 Rooms—2 Baths Value Enhancement Likely Open Sunday, 1 to 5 F. ELIOT MIDDLETON Member Wash. Real Estate Board Investment Bldg. Met. 2827 BIG FEATURES n these New 7-RooM HOMES 3 Wide Covered Porches 4th and FARRAGUT STS. N. W. RECREATION ROOM An extra room 17x20 ft. com- pletely finished in the basement. Juet the place for a dem or for your entertaining. Texture walls, Hghting fixtures, win- dows, heat. No obstructions. KITCHEN-DINETTE Everything in buff and green. Built-in equipment, Frigidaire, electric clock, new folding di- nétte set. Double small ceramic tile drainboard and back splash. COLORED BATH Something different. Beauti ful colored tile combinations. Built-in colored fixture: Tub, shower, new-type medicine cabi- net. Modern in every detail. “Over-the-Top” GARAGE DOOR Easy to get in and get out, ““Over-the-top” counter-balanced shding door—out of the way, 18,950 T3 wic CAERITZ v ® OVER 3,000 LIFETIME HOMES BUILT AND SOLD e “ REALTORS OPPOSE | s structur TAXATION REVIVAL Stamp for Transfers Plan| Meets Disapproval of Association. The National Association of Real | Estate Boards will oppose the revival| of the old stamp tax on realty trans- fers, which is a part of the Federal tax plan, according to Henry G. Zander, Chicago, chairman of the association’s Federal Taxation and Legislation Com- mittee. The tax would make it necessary to purchase special stamps to place on realty deeds, and would require that 50 cents in such stamps be used for every $500 of value. “Realtors were instrumental in hav- ing this tax repealed in 1924, and will work to stop its re-enactment,” said Mr. Zander, who pointed out that un- | | scrupulous persons could purchase any | number of the stamps and thus indicate | a false valuation of the property, inas- | much as the value is rarely set forth in the deed. | “This is an open door to fraud, and | would wipe out much of our other effort to protect the public in real estate deals. People do not stop to think that the stamps might be manipulated and simply assume that this shows the value. “In addition we are opposed to this measure because local governments de- pend on their revenue mainly from real estate, which is already paying a too- large share. An Attractive No This fne brick home has Bosler and garage. Open Sunday 10:30 to 6 P.M. out. and. is fractically ke o new home. roome—front and double back porches—Bryant Gas The' frice iv wery reasonable. Specifications for the building of five 2-story brick dwellings at 5208-5216 Fourth street by P. H. Willis from plans by George S. White, at a cost of $30,000, also were approved. Other Permits Issued. Permits were issued also for the fol- lowing projects Harry Himelfarb, owner and buider William Harris, designer; to erect two 2-story brick flats, 4106 and 4108 Kansas avenue, to cost $30,000. Thomas M. Neale, owner and build- er; James H. Grant, architect; to erect four 2-story brick dwellings, 518 to 524 Jefferson street, to cost $25,000. W. C. & A. N. Miller, owners and builders; G. E. MacNeil, architect; to erect one 3-story stone, frame and brick dwelling, 4929 Hillbrook lane, to cost $15,500. W. C. & A. N. Miller, owners and builders; G. E. MacNeil, architect; to erect one 3-story brick dwelling, 4923 Hillbrook lane, to cost $14,000. L. E. F. Prince, owner and builder; Charles E. Dillon, designer; to erect one 2-story brick dwelling, 1731 Holly street, to cost £12,000. Will Erect Dwelling. L. E. Breuninger & Sons, Inc., own- ers and builders; H. L. Breuninger, architect; to erect one 2-story, brick dwelling, 7721 Fourteenth street, to cost $10,000. L. E. Breuninger & Sons, Inc., own- ers and builders; H. L. Breuninger, architect; to erect onc 2-story brick (Continued on Third Page.) ey 3062 PORTER ST. A modern new brick home of Ce- lonial design in Cleveland Park, at a price much less than you would pay farther out. Large lot—trees— covered back porch—two-car Farage. LOUIS F. PEAK North 0167 TS RO IID B TETTTTT BTI.Ck RES;JE’I.CE Located at 514 15th St. rtheast just been renovated through- Contains 6 Sriall Do Pomiont Easy Terms O Preuninger S Sons Members of the Washington Real Estate Board The Display Home n SHEPHERD PARK 1317 Iris St. N.W. This English all-brick home con- tains 6 large rooms, 2 tile baths (shower), is situated on wide, deep lot with trees; southern exposure. Garage, paved street and alley. The house is so comstructed that repairs and upkeep are reduced to a minimum. Your present home con- sidered as part payment. Completely Furnished by D. S. Pool Open, Heated and Lighted Daily Drive out 16th St., to Alaska Ave. to 13th St., turn left one block to Irs St. and our home. i s See, also, our furnished 4-be home at 1335 Hemlock St. N.W. LEBrouningerS Sons Members of the Washington Real Estate Board