Evening Star Newspaper, January 14, 1933, Page 15

REAL ESTATE WASHINGTON, n0 REALTORS WILL DISCUSS NEW ECONOMIC SITUATION Final Details for Convention Here Are Being Pre- pared—C. E. Miller of Washington to Be Installed as New President. taking form to meet the needs of the new economic condi- tions will be one of the important themes to be explored by | leaders of the field at the approaching convention here of the National Association of Real Estate Boards. Arrangements for the convention, which will bring 5C) or more | realtors from scattered tions of the country, progressed this week | with the establishment of headquarters at the Willard Hotel, where final details are being prepared. | ‘The annual busmefs meeting, with daily scssions from January 25 to 29, will be m&rked by the inauguration of W. C. Miller of uh‘S city as pre’ldem of the body for 19 A convention headquarters office was| - BULDING AGIIVITY manager for the association, to assist | $100,000 in New. Construc- | in completion of the detail program. Business Adjustment Topic. tion Is Approved During Past Week. ‘The subject of adjustment of buslnefs organization to meet new trends and | new needs will b discussed at the con- | vention sessions by various leaders of | the asscciaticn, including Leonard P. Reaume of Detroii, a past president of the organizaiion and fcr the past seven years a member of its exzcutive col mittee. ¥ Plans for private builld.ng opsrations | in the District having & total estimatad construction cost of approximately geaeral plan of the institute, which 13 | £100,000 were approved durizg the past orgenized as a definitely professional | 4 i body. Membership and right to the | Week by Building Inspecior John W. designation M. A. I is limited to per- Ochmann sons who can meet its quelifications as| Included in the list of mew private | to kncwledged appraisal principles and | work here were specifications for 13 | | CH',NGES within the real estate business of the country now | Mr. Reaume, prominent real estate developer anti benker, will speak on the | importance cf the management func tion in the future real estate business. Phillip W. Kniskern, New York, preci- dent of the American Institute of Real 1 experience | dwellings, the largest item of the week n in their | m ng a projcct for the erection of four | member of & houses on Quackenbos street cosfinu. me e board of the asso- | $30,000. ciation is eligible to the grade affiliate |~ Fhe Federal Construction Co,, Inc., obtained a permit for the building of Estate Appreicers, which was organized by the assoc:ation during the past year, four 2-ctory brick-and-concrete bloc't | | dwellings at 501-507 Quackenbos sireet, | and author of a forthccming volume on rcal estate appraisal, will outline the the d-signer being M. Mesroban. Other Permits. Any Frank S. Slosson, Chicago, chairman | ©of the ecsociation’s new commiites on commerciel learing policies, will revort on the work ahead of this committes Upper ]e(t—Res‘dence at 110 West Aspen street, Chevy b by The house contains six rooms and two baths and has a detached garage. and the results it hes already accom- lished. The committee was chartered aid cwners of commercial properties now under le: chain stores in ca-es where the retal chain tenant states| the 1t is facine readjustment, reorman- | jezation, or voluntary or involuntary | bankruptey. Capital Development Listed, J. C. Nichois of Kansas Cif chairmen cf the ase m] tee on City Planning and Zoni '1” an'l\ member of the Naticrrl Capital and Planning Commission, has b‘(”l l‘)« vited to nddress the association on the | Canitel City’s plan. Each svecizlized branch of the asso- | ciation will have before it the maoping | out f ctivities in that snecializ>d field which will bost help the fndividual realtor to meet prevent condition~, | The brekers' division of the eswoc’a- | ticn and the realtor sacurities ¢ | will hold en all-day meeting of theh‘ full membership on Friday. Th mort- d finance division. the preperty division and the property divi 10'1 will hold half-day ses- slons of r membershin, with meet- ings cf their Executive Committee on the reme ning ha'f day. Such ing all memb: vision mey attend | if_they gs of the hem: | builders and subdiividers' divicion, of the farm lands and countrv estates di- | vision and of th» industrial property | division wi'l be all-day meetings of the Executiva Committee, The home buil ers snd subdividers will hold a prob- lem dinner Thursday evening. Inausuration Is Planned. The Stotes Council of the associa- tion, formed to bring to the association the peint of view of the various States as such, particularly in relation to leg- | {elation affecting real estate. will have | an important all-dey meeting sflmul-i taneously with the division- meetings Friday. The inaugural banquet. at which President L. T. Stevenson of Pitisburgh | will turn over the gavel to Mr. Miller, president-elect, will be held at the Wil- Jard Hotel Friday evening, at which time all officers for 1933 will be inductzd into office. The board of directors ¢s ‘constituted for 1933 will hold its initial meeting Saturday at 11 am. imm diately following the close of the con wvention proper. | Railroad rates of a fare and a half | for the round trip have been granted to delegates to the convention from all | points in the United States and Can- | ada by action of six-passenger associ: tions. In nearly all cases tickets will be good going and coming by diverse Toutes. OBSERVANCE TO BEGIN OF 16TH THRIFT WEEK| Tuesday Birthday of Franklin, “Pa- | tron Saint” of Building and Loan Brsiness of United States. The sixteenth annual observance of Thrift week will begin next Tuesday, anniversary of the birth of Benjamin | Franklm. the “Apostle of Thrift” and “patron saint” of the building and loan business of this country. The 11,000 building and loan asso- | clations of the United States, having | a total membership now of about 11,- 500,000 savers, will join in the observ- ance to emphasize the wisdom of eco- nomic planning to the individual, par- ticularly the prospective home buyer. | Philanthropic, welfare, _ civic and financial organizations Wwill join in sponsonng the obser\ ance. Seumog'mph on Ancxent Rock. An ancient volcanic rock serves as @ natural foundation for the Massa- chusetts Institute of Technology's new- Iy cstablished seismograph statlon, Machia: New Detached Brick 8,950 | 6621 Piney Branch Road N.W. (Bet. Ysa Buren and Whittier Sts) @ Six rooms and bath, recre- atien room, attic, electri- cal refrigeration, large lot Py | builder; to remodel 1223 F s Other permit; were issued for the hl]owlng p ojects. . Miller, owners and builders GO on E. MacNgil, erch tect; to erect one 2lj-story Brick-and- frame dwelling, 4900 Quebec street; to cust $14,850. J. Grady, owner and builder; D'll- designers; to erect two -and-frome dwellings, 602! and 6025 North Dakota avenue; to cost | | $10,000. ouic T. Roulesu, owner, £nd builder; to erect two 2-sto owelling, 5104 end 5112 Forty-fourth | street; to cost $10,000. Ms.s Haster E. J. Thomas, owner w Diehl, designer; Paul T. Sto; buuder‘ to erect one 2-sca'y cL dwelling, 5355 Twenty-ninth street; cost $7,000. L. Dell Erba, owner; R. M. Briccoe, designer; C. R. Zirkle, builder; to erect one 2-story brick dwelling, 6020 North Dekota avenue; to cost $6.000. Louis T, Reuleau, owaer, d builder; to ercct on~ dwelling, 5108 Fony-lour cost $4,000. Plan to Remodel. S. Kann Sons Co., owners; designer b: igner and tory frame street; to P. B. lc, architect; James L. Parsons, jr., irest; to cost 43,500, S Kann Sons Co., owners; F. B. architect; James L. Persons, jr.. Fildor: o pemodel 1221 P Peteeet: ‘1o cost £3,500. Gwe northeast; to cost $3,000 J. V. O'Connor, owner and builder; C. R. Wire, designer; to erect one 2- story frame addition, 3521 Rittenhouse strest; to cost $1,500. Louis T. Rouleau, and builder; to make repairs, 3133 Highview place; to cost $1.500. J. G. Jalepes, owner; J. A. Cook, builder; to make repairs, 1734 Four- teenth street; to cost $200. TALKS ON FLOWERS Meeting Is “Held by Chevy Chase Garden Club. ‘Talks on & number of favorite flowers were given by members of the Che Chase, D. C., Garden Club at a meeting | Monday afterncon st the residence of | Mrs. William R. Myers, 3754 McKinley | street, Chevy Chase. The speakers were Mrs. Henry Gower, Mrs. John Boyle, jr.; Mrs. Prank Mc- Manamy and Mrs Alton P. Tisdel. The owner, designer | talks were illustrated with the use of the club lantern. Assisting the hostess were M:s. L. S. Mohler, Mre. William F. Notz and Mrs. J. F. Roudabush, e O New State Realty Bady Realtors of Oregon have just per- fected the organization of a new State | body, the Oregon Association of Real Estate Boards, to make possible & new aggressiveness of Oregon real estate groups in projected State legislation of importance to real estate,’ particularly in reference to taxation. State real estate organizations mow exist in 33 States, with one regional, one Canadian provincial organization. 10000000000000000 Homes That are Different 4th & EMERSON STS. N.W. High Elevation, overlooking everything in Petworth Note These Features All-Brick Construction | Homes 35 and 45 ft. Deep Covered Concrete Front Porch 1 and 2 Screened Rear Porches Step-Down Living Room Finished Recreation Room With Ornamental Fireplace Gorgeous De Luxe Kitchen Completely Equipped 3 and 4 Spacious Bed Rooms 2 Smart Colored Tile Baths Concealed Radiators to | Metal Weatherstripping Built-in and Detached Garages w’: “Qver-the-Top” Doors Sdme Lots 142 Feet Deep Paved Street and Alley $500 casu Easy Monthly Payments P CAFRITZ with garage. rick con- struction, with e roof, copper gutters and down- spouts. A most unusual value for a detached house in this ttractive, restricted neigh- borhood. Open All Day Sunday PHILLIPS & CANBY, Inc. T, designers aim builders. aGlG Nebr alL y Assuclales InC lhruu;h the agency or New Homes in Greater Washington Area GROUP OF NEW RESIDENCES HERE PURCHASED RECENTLY. Chaze, Md., Crest drive, Sligo Park Hilis, b a lot with a frontag: of 70 of dweiling recently ccmple aska avenue, Chevy Chasc The houze contains DC o O SR S "- INSURANCE FUNDS MOUNT SHARPLY IN REAL ESTATE Substantial Increases From 1906 to 1921 and From 1921 to 1931 Revealed by Reports Received From Insurance Commissioners. percentage of insurance company loan funds which ha:z been invested in real estate increased to a considerable degree between the years of 1906 and 1921 and, also, between 1921 and 1931. Real estate loans and investments of insurance companies of the United States now approximate $9,500,000,000, according to estimates of insurance commissioners, as reported recently by A. D. DuLaney, insurance commissioner of Arkansas. Insurance company investments in relation to real estate were analyzed recently both at the annual meeting of the national con- vention of insurance commissioners and at the annual convention of the Association of Life Insurance Presidents. =t } The shift in insurance company in- vestments as reported by Commissioner is as follows: rortages, 285 per cent of the tofal investments in 106, 344 [REALTY CONVENTION 5iie:e; PLANS DISCUSSED {2 o 5. ‘pel cent in 1906, 22.9 per cent in 1821 | and 16.2 per cent in 1921; public utility | bonds and stocks, 4.7 per cent in 1906, 3 per cent in 1921 and 10 per cent in 1931; other bonds and stocks, 3.7 per cent in 1906, 1.4 per cent in 1921 and 3.3 per cent in 1931; Government bonds, 6.8 per cent in 1906, 18.9 per cent in 1921 and 36 per cent in 1931; and L. T. Stevenson of Pittsburgh, presi- | policy loans, 8% per_cent in 1906, 13 dent of the National Association of |per cent in 1921 and 159 per cent in Real: Estate Boards, and Herbert U. 193l I T Stevenson and H. U. Nelson of National Board Meet With Washington Realtors. Experience of life companies with main rooms, two be.ths and has a !Wu- Meadowbrock, purchased by Mr. and Mrs. Pranklin D. Van Sant, from Meadow- The lot is 65 by 110 fe: for Mr. and Mrs. R. W. Ccmstock by ths North Wachington Realty Co. It con- | purchased by Mr. and Mrs. O. W. 'MASTER BUILDERS HONGR WOHLGEMUTH AssscLaticn of D. C. r.‘le:!s Presi dent to Succeed Skinker and Oiher Offic: C. Wohlgemuth. ‘dent. of the M has been elect: r Builders' Acs ict for the new year, eding James R. Skinker. Tompkins was elected first | vice president, succezding Mr. Wohlg>- | muth; and Walter B. Avery was elected second vice nreside succeed Mr. | Tompkins. Tae extcutive secretary of | the organizaticn, which consists of le2d- ing contraciors of the District is Frank | 3. Sheehan. | . Members of th= board of airectors of the associati Henry B. Davis, E | H. Rox'nga . Charles H. Temy ‘A\er/ and Mr. Wholesle Gost Tower! for Week Ending January 7., The wholesal> cost of building mate- | rials dropped fractionally during the wezk ending January 7, according to he current rpert cf the Uniled Stales | Bureau of Lobor Statistic The index number for the week . as compared with 70.8 for cembar 31 and 70.9 for Docemb: bui was still zbov for December 17 an e | numbers are based on average prices of 1926 as 100. ‘The cost of house-furnishing goods was lndl(‘a»fd by a figure of 733 for January 7, as compared with 73.5 for | the preceding four weeks. wes g B Beckeeper Wins Swarm. ). 6. BEITZELL TO OPEN |MANAGERS T0 STUDY REAL ESTAT: BUSINESS ECGNOMY OPERATION Under Name After Resignation From Partnership. Flans Or"zmzatwn Own J. Garrett Beitzell, Wachingion for 11 years, will establish | 2 real estate crganizaticn of his own, o conducs a general who hes been | | engag=d in the real estate business in | realiy business | Prope; Properties to Meet Monday in Philadelphia. Owners and Oficers of Commercial Economy in operation of commercial tes will be the principal topic for vnder his own nome, it was announced | consideraticn at the fifth ennual meet- today. For three years he has been presi- dent of the p of Beitzell | Horning, from which he has just r signed. He has takcn new quarters in | the Tower Bui'dirg. He has retained a | ties in Washington, Baltimors, sales organization and wiil represent a | Gelphia, roup of local h"me builders as »\e‘l larger cities in the area are exp: M of the firm of Beitzell & Horning, w. associated with the Cafriiz Co. a fi x i HOUSING swmes Clevelan] Takes Leading Part in & | Stimulating Construction. Cleveland has taken a leading part in the pursuit of housing studies to facili- |tate a revival in construction in the | cities of the Great L |ing to a report to the American I | tute of Architects by Herbert E. He itt of Peoria, Ill., director of the Great Division of the institute. may be achieved during the | | coming yca he predicts. “With Ohi | State law, setting up a State Housing | Board to control limited dividend col porations proposing low income housing, there is a possibility of using Recon- struction Finance Corporation funds, though no corporation yet has formed in this district.” DUNFERLINE, Scotland (#)—Peter | Coutts, a butler, ‘and Henry Gow, a | beekeeper, went to court over a swarm of bees vhich Coutts said Gow ap- | propriated, but the beekeeper won when | the court ruled that he was entitled | to them under a law | the Romans, specifying that swarming bees belong to the first person who takes poscession of them handed down fromn | Buite by Dunigan, Buile Right i ll-Electric HOMES \With | Modern Electric Kitchens $9,250 [ AND TERMS | Built With the Co-operation of the Potomac Electric Power Co. and General Electric Company EXHIBIT HOME 5416 Kansas Ave. N.W. On a Beautiful Boulevard Open Every Day Till 9 P.M. * Special G. E. Display Completely eauipped G. E. Mod- ern Electric Kitchen on STay i Jramt of exnivit home. D. J. Dunigan, Inc. Tower Building NAtional 1265 Exclusively NA. 4500 Investment Bldg. 19 Franklin Street Northeast $6,950 Overlooking Reservoir Thi brick home has been reconditioned throughout and contains six rooms, bath and. built-in garage, located in this fine and restricted neighborhood. Adjoining S. Soldies Home Grounds. Certainly it is reasonzbly priced and a small cash payment and bal- ance like rent can be arranged. Open All Day Sunday L. E. Breuninger & Sons 2040 4801 Chevy Chase Boulevard This new center-hall home, fronting on the wide circle at the intersection of Offutt Road, is offered at the low price of $10,250 Spacious living room, din- ing room, breakfast alcove, model kitchen, electric re- . frigeration, pantry. Four attractive bed rooms, two complete baths, large closets, floored attic. Screened. Copper gutters, down spouts. Attached ga- rage. Open Saturday and Sunday Out Wisconsin avenue. turn lejt opposite Chevy Chi Clud SOIT Links "Foo blocks 2o, Broveriy. Edw. H. _‘]'%'neo & Co. 5520 Conn. Ave. Cl. 2300 two-story INC Investment Building, Nat. To reach: | the association, ing cf the Middle Atlantic Conferen of Building Owners and Managers, to| delphia, Pa. Owners and agents of large prop: Phila- Wilmington and other of the d to attend Jamcs McD. Shea of Washington, 2953 McKinley St. (Chevy Chase, D. C.) Must be sold at a sacrifice. Brand-new detached brick, 7 rooms (4 bed rooms). All rcoms finished in hardwood trim. Porches, attic, garage. $1,000 cosh and $75 per mo, Clese to Public School and transpertation. Open Today and All Day Sunday Realty Associates, Inc. 1427 Eye St. Nat. 1438 New Stone Home Wesley Heights $29,500 2919 43d St. N.W. Bet. Garfield and Hawthorne Sts.) @ In this beautiful wooded sec- tion of Wesley Heights we offer a largz Colonial stone home of cen- ter hall type. There are eight rooms, two baths, library and lavatory on 1st floor, open fire- place, electrical refrigeration, attic, servants’ quarters and bath, two-car garage. @ A wonderfully well built home with many special features. Open All Day Sunday Phillips & Canby, Inc. Exclusively NA. 4600 Investment Bldg. [l Save *2,000 & | be held Monday and Tuesday at Phila- | | member of the board of directors of is scheduled to take | sales manager of | part in a discussion Monday of the | | | ed for Mr. and Mrs. Morgan B. Callahan at 3124 New Mexico avenue, Wesley Heights, tor, The house contains six main rooms, two baths and a built-in garage Strachan, ar garage. from Roy De Haven, builder, | subject of leasing of office space in & | buyers' market. Tuesday morning there is to be a al discussion of problems of apart- house management, with man- | zers from Washington, Baltimore and | Ehllauemhla scheduled to speak. Maxy technical business problems re- leted to propezly management are on the p'epared program. Interest Rate Cut‘ Beginning with the new year, all new end rerewed first mortgages of New York City real cstate placed by leading tid> and m city will car-y an interest rate of 5 cent inctead of the 5'2 per cent | hitherio tie rule Just Like New 4122 Fifith Street Northwest Beautiful Petworth Twenty-foot brick Home. Containir six large rooms and bath. Porches and garage We have a wonderful value in this home at this price. If vou are looking for a_home be sure to come out SUNDAY, L E. Breumnger & Sons Investment Bulldlnz Nat. 2040 Buy Noow in FOXALL @ Higher prices are on the way. No longer is there intelligent ex- cuse for DELAY. Your family deserves a home of its OWN . . . you know that economies can be effected by the purchase of the RIGHT one in the RIGHT place at the RIGHT time. FOXALL is the place and the time is NOW, before real estate values once more follow the general procession UP- WARD. ® Visii our Model Home at 4422 Volta Place, three short blocks sonth of Reservoir Road, and see_what FOXALL really offers. Open to 9.30 p. m. 9 WAVERLY TAYLOR e 1522 K Street Nat'l 1040 this beautiful, brand-new SEMI-DETACHED home in exclusive, fashionable MOUNT PLEASANT $10,950 —Unheard of before! and $10.950. 8 rooms. tached. in the heart of the Embassy section overlocking Rock Creek Park, Close to schools, stores. chur $1,000 cash and $75 a monlh semj-de- X WOOD-PANELED Nelson, Chicago, the executive secre- tary, addressed members of the Wash ington board at their weekly bu: ness conference Tuesday at the Am- | | bassador Hotel. ! ‘The officlals of the national organi- | zation came here to arrange prelim- | inary details for the approaching Win- | ter ‘convention of the association to | be held here week after next. | Mr. Stevenson discussed benefits to | be gained from attending the con- | vention and outlined matters to be | | considered at the sessions. He said ideas brought to the convention by | | delegates from various sections of !he) | country may mean much in business | to those attending. The weekly conterence was con- | ducted by Morton J. Luchs, its direc- | their mortgage-loans for the last three years was analyzed before the Associa- tion of Life Insurance Presidents from & questionnaire of 52 reporting compa- | nies of the association. The analysis, made by John R. Hardin, president of the Mutual Benefit Life Insurance Co., Newark, shows these figures: 1. Mortgagz loans now comprise 36.3 per cent of the investments of the 52 reporting companies. Admitted assets at the end of 1932 were stated to ap- prozimate $19,000,000,000. Real estate mortgage investments thus approximate $6.897,000,000. 2. Effect of depression foreclosures has been to raise the per cent of real estate held by the companies to total admitted assets by only 1.8 per cent | over the amount held in 1929. 3. New mortgages made by the com- tgage companies of the | Arcade Market. % car lines and bus line, 3 movies, etc.; 3 bed rooms. sleeping porch, extra den or bed room adioins ball room in basement. Splendid big'living room. dfn- ing room. and breakfast porch (house has 22-ft. front), and de Juxe kitchen. Big 2- car heated garage. VALUE as never before . . as never again. 3 BALL ROOM MAID’S ROOM NEW MARVEL KITCHEN DIRECTIONS: Come to Mount Pi o a',‘g:;‘;fi;l? Hmw‘m roard STREET NORTHWEST. Harv-rd Tmlae Devolopmdt Commhon The meeting was attended by |panies in the last three years total: more than 50 members of the local | Farm mertgages, $265,329,000; other board. | mortgages, $1,521,192,000. ANNOUNCEMENT The firm of Beitzell & Horning, inc., having dissolved, I wish to aduse my friends and clients that I am opening my own office for the sale, rental and exchange of real estate, at the same address under the firm name of . . . Horning Realty Co. Tower Bldg. NAt. 2030 Michigan Manor today see the wonderful new homes just completed by C. H, Small In this delightful community of stately homes, wide streets and beautiful lawns some new at- tractive homes that will meet with your entire approval. . .semi-detached handsome brick homes ..with 6 big rooms, 2 baths, lovely fireplace, big new type recreation room...garage...on a big lot. Exhibit Home Drive Out Today 4424 14th St. N.E. ntAL EyTATE -+ ToWER L) DLOG. North Caplifol, out iene Michigan, left on Fourteenth. Fourteenth. $12,950 ALL STONE, slate roof, gutters, two baths, first floor lavoratory. A Eleotric Modern Kilchen = Now Open for Inspection—to Be Finished February First Drive out Comwdielt Ave. to Anm St. (one block north of Leland. St.), turn west, left, 1% biocks to property.