Evening Star Newspaper, January 14, 1933, Page 16

F B2 REAL ESTATE. HONE LOAN BANKS | * POLEY APPROVED Backed by Consensus of Country and Regarded as “Conservative.” The policy of the Federal home loan banks, described as _“conservative.” meets the ¢ al of the managers of building and loan essociations in many States, according to aconscnsus_talen by the United States, Building and Loan League and reported today by Ward B. Whitlock, league president. The association managers replying to 8 recent quesfionnaire on the subject voiced satisfaction particularly in the belief that present home mortg2ge prob- lems would be solved through & system supported by privete capital rather than through a billion-dollar salvage THE EVENING STAR, WASHINGTON, D. €., SATURDAY, JANUARY 14, 1933, REAL ESTATE. NEW CATHOLIC U HOME UNDER WAY Large Structure Being BUIItiT"b“" Will Be Paid to ILate| for College of Holy Re- deemer. Construction of the new home for the College of the Holy Redeemer, now under way, will bring & large new unit to the Catholic University develop- ment at Brookland. The large five-story structure is be- ing erected on & site of four acres, having a frontage on Seventh street between Hamlin and Jackson streets northeast, south of the university. The cornerstone of the building was laid this week at ceremonies attended by prominent members of the Catholic :mmc.mmwflhmtmm lege. “The structure is being erected by Jo- seph L. Parkhill ffém plans by Anthony | SENATORS ARE INVITED ‘ TO CATHEDRAL SERVICES President Coolidge Tomorrow Afternoon. Members of the Senate have been invited by Right Rev. James E. Free- | man, Episcopal Bishop of Washington, | | to atiend memorial services to be con- ducted at the Washington . Cathedral {at 4 pm. tomorrow as a tribute to the | late Calvin Coolidge. The invitation | was extended through Vice President Curtis and was read in the Senate today. | " The Senate yesterday adopted a res- olution proposing a joint session of the House and Senate on Monday, Febru- ary 6, to hold memorial exercises in honor of Mr. Coolidge. The resolution | provided for extending invitations to | officials to attend the_ exercises. | President Hoover, the cabinet and other | sum from the Government. Sound Basis. “The granting thus far of credit lines to 250 home financing institutions by the Federal Home Loan Bank B()afd‘ has been done on the only basis sound enough to make possible the flotation of | bonds, according to the comments sum- | Mr. Whitlock said the reaction of the building and Joan managers to the 13- page ana’ of an association’s affairs Tequired with its epplication for home loan bank membership especially was favorable. Other features of the banks' lending policies include limitation of Ioans to member institutions to 50 per cent and 60 per cent of the value of the martgages pledged ss collateral “Not only the $125.000,000 loaned by the United States Treasury, but the billions of private capital which will be invested in the regional banks by flota- tion of bonds will be safe beyond ques- tion because of the policies which have been carried out, giving thorough in- vestigaticn to all institutions applying for loan id Mr. Whitlock." “On file ) in the records of the home loan benks and of the Federal Board are data re- lzting to all of the loaning operations, | payments of earnings and financial condition for the past three or four] years, for every institution applying for a line of credit with one of the banks. These records establish the borrowers sclvent institutions, with a pest history of financial eperations and conservative management which entities them to the complete confidence of the home loan | bank lending officers. By the same] token membership in the home lcen bank becomes en impressive witness to sound finameial practice. Tangle to Be Unraveled. { “Because of the safety established by this procedure, the present tangle in the home mortgage situation will be un- raveled primarily by private capital without billion~dollar Government ap- propriations such as were calied to the | 2id of other industries and their financing agencies. “The Government is the | Home Loan Baok System $125,000,000, which is to be repzid with interest as more and more of the building and | loan associations, savings banks and in- | £urance companies apply for member- | ship and buy siock in the region1 banks. The banks are empowered to| gm;lgabentuics of their own, secured ¥ $190 worth of home s be- hind each $100 worth of borde. This gives them machinery for expansion of | their loening operations to the propor- | tons necessary, without edding a ocent | 0 the taxpayers’ burden.’ —_— WILL STUDY SERVICE Toung People to Consider Proper Steps to Help Needy. At the Church of the Epiphany to- morrow there will be the celebration of the holy communion at 8 am. At 11 o'clock “there will be morning prayer and sermon by the rector, Dr. Z. B. Phillips, service there will be At the a special feature in the form of a young pecple’s service at which Rev. James De Wolf Hubbard will bethe cpecial preacher. It is expected that a large group of young men and women bz present this service, which will lasi for 45 minutcs, after which young men will meet together in the parish hall to discues the question of individual service that may be rendered to those in need of councel and help in the city. At the same time the young wemen will meet in the Willard room to consider the e subject. The ob- Ject of these special conferences being to interest the young neople in the deeper things of religion by linking each one definitely with some form of servic in the community. At 9.30 both grou meet for an infor p. ot which timz be served an: ople who are interested are in h’d.g e “LIBERTIES” IS TOPIC Braskamp to Preach at Gun- ton-Temple Church. “Limiting Our Liberties” is the sub- Ject of Dr. Bernard Braskamp, pastor of the Gunton-Temple Memorisl Pres- byterian Church tomorrow morning. He ¥ill conduct the midweek meeting ‘Thursday evening. The group will con- tinue the ady of “‘Rethinking Mis- slons, he repc of the laymen's for- eign missions inquiry The second of the mission study classes on the American Indian will be heid Mcnday at 2 o'clock at the home of M J G. Kilein, 1719 Irving street. T!]Mi‘ classes are for the women of the Woman's Missionary Society and their | frient nd are conducted by Mrs. M. 8. Anderson. After the class refreshments ill be served by the hostesses. One of the women's circles will give luncheon Wednesday at 1 o'clock. '!'lr‘ Monroe street entrance will be Dr. See... The Model ELECTRIC KITCHEN in This Charming, New English Type Home 1200 Juniper St. N.W. Beautiful Shepherd Park You'll get a real thrill when you have - seen this modern home with its many fea- rooms; 2 baths, T 2-car garage . . . all- electric kitchen with electric range, electric refrig- erator, electric water heater, ventilating _fan, Drive out 16th St. to Alaske | Jury Takes More Than Seven {CHURCH’S OPPORTUNITIES | Architect's conception of norti the building now being erected on Seventh street between Hamlin and Jackson streets for the Coilege of the Holy Redeemer. | CLEARS 3 OF LT TOSTEALBALLOS Hours to Reach Verdict in Newark Case. By the Associated Press NEWARK, N. J. January 14 —Nine' men who were charged with conspiracy | to loot sealed ballot boxes stored under | police guard in City Hall basement were acquitted by a jury that deliber- ated more than seven hours iast night The first word from the jury came at 10:20 pm. when it returned a ver- dict aoquitting seven of the nine de- fendants. It reported disagreement re- garding Max L. Stegman, Democratic | leader In the ward where most of the stolen votes were cast, and Philip B.| Tully, assistant custodian of City Hall, | and was ordered to consider their cases | further by Judge Dallas Flannagan | Shortly after 11 o'clock. the jury re- | tumed to the court reom and an- | nounced it had acquitted the other two men. Patrolman Raymond Herter, also in- | dicted on the conspiracy charge, who becam: the State’s star witness, will be tried at a later date. 1 Besides Stegman and Tully, those cleared were Abraham Freund, City | Hall night watchman; Acting Police Capt. Adolph Lindeman, Police Lieut Charles H. Byrne, Patrolmen E. P, La- | lor, H. J. Doyle, and P. J. Duffy, and | Edward J. Leary. night police reporter | of the Newark Star Eagle. IS SUBJECT OF SERMON} At the West Washington Beptist Church tomorrow the sermon by the | pastor, Rev. Charles B. Austin, will be | on the subject “The Church: Its Prob- lems and Opportunities for 1933.” At 8 pm. the Centr:] Union Misssion Glee Club will sing in honor of Deacon Wil- liam C. Bitting, who was converted at the mission 31 years ago. The Ladies' Aid Society will serve a luncheon and dinner in the Sunday school auditorium Wednesday. Lunch- | eon from 12 to 2 p.m., dinner from 5 to 7 pm. The Organized Bible Cl2ss Association ol the District of Columbia will meet | in the church auditorium Wednesday evening. At the midweek service Thursday ev ning the pastor will give the third talk on “Who's Who in the Bible,” Subject will be “The Bock of Luke.” Mr. Austin will answer the following questions in his sermon mext Sunday morning: Who is the author of the church? What must ‘a man do to be- | come a member of the Baptist Church? | What does Mrs. Coolidge and others think of the church? What are some of the outstanding problems facing the | church in 1933? What can the church do to help sustain the morale of per- | sons threatening to break under the stresses and strains of these trying times? Modernized Throughout 715 TUCKERMAN STREET N.W. Priced low at s7,250 Attractive Terms This semi-detached brick house of six rooms and bath has been entirely modernized. Recreation Room Built-In Garage Modern Kitchen Equipment Built-In Tub and Shower Len-A-Door Electric Refrigerator Open Saturday, 2 to 6 p.m. Open Sunday, 2 to 8 p.m. HENRY J. ROBB, Inc. 1024 Vermont Ave., Dist. 8141 First Time Shown Sample Now Ready 1933 Homes and Better You will be delighted after in- specting these homes. They are everything that could be expected, and then some. No matter where you live or where you want to buy a home, or if you don't want to buy at all, you will enjoy seeing our 1933 homes. Sample Open Daily to & P.M. 1659 C St. N.E. (Corner 17th and C Sts.) Facing wide boulevard—conven- fently located—just a short distance to all Government departments and Baths Families) Recreation Room The Corner Home Is a Beauty Prices Low—Terms Reasonable d we will or phone us ang and take you to see these electric clock. Wm. H. Saunders Co.;"fnc. %19 K St. N.W. DL 1818 GRUVER AND MARSHALL, Builders 1226 14th ST. N.W. DIST. 3346 DIRECTORATES RENAMED JPIONEER RAILROADER DIES FOR HOME LOAN BANKS;Dmendnnt_Qf—ITder William Brewster Succumbs. BERNARDSTON, Mass.. January 14 (). —Isaac Burrows Snow, 82, pioneer insurance and railroad man, died | | Thursday night. ] i | _He was a direct descendant of Elder | Directorates of the 13 regional home | ooy ooy puter and & member of the | loan banks, with but four exceptions, | zfavfiower Society. were reappointed for 1933, according to | an announcement by Franklin W. Fort, chairman of the Federal Home Loan Bank Board. Henry G. Zander, Chicago, former president of the National Associetion of Real Estate Boards and previously vice chairman of the Seventh District | Home Loan Bank Evanstcn, I, has becn appointed chairman of the Evans- ton bank board, succeeding S. F. Phil- lips of Danviile, Ill. Harry S. Kissell, Springfield, Ohio, also a past president of the association, was reappointed chairman of the Cincinnati bank. Mr. Zander will talk on the relation- ship of the new home loan reserve system to future real estate financing in an address to be given before thc mortgage and finance division of the National Association of Real Estate Boards at its coming Washington meetirg. Applications for loans totaling $13 600,009 have - been approved by the Home Loan Bank Board at the last public _statement made by the chair- man, December 23. He reported that 197 applications for lines of eredit estimated to total approximately $34.000£00 had been received by th board. all these being approved by the distri~t banks which forwarded them to Washingtcn. The average loan re- quested for a home financing institu- tion was found to be $150,000. The largest loan so far approved was for $300.000. Advancement of Former Real F§»< tate Boards Leader at Evanston | Is One of Four Exceptions. STUDIO HOME e gorgeous colored baths: ultra-mocern kitchen with Oxford cabinets, electric refrigeration; three cavered perches 0d__ floors _and woodwork screens: weather-stripped: recreation room: built-in garage: absolutely the best value obtainabie for the money. ‘néaL £sTATE - Towen 1) BLOC 156 T ST. N.E. Opposite New McKinley High School Fine tapestry brick hom= of six large rooms, Colenial front poreh, double rear perches, built-in ga- Tage; has been com- pletely renovated and is in new-house condition. Electrical refrigeration im- cluded. Greatly Reduced from original sell- ing price, and a fine opportunity is presented for some ome to purchase a good home at a real bargain figure. Open All Day Sunday Wm. M. Throckmorton 208 Investment Building NEW REVISED RENTALS FOR SPACE GIVES EVERYONE A CHANCE TO BE LOCATED IN THIS DIGNIFIED BUILDING “The Best Known Address in Washington” RSO Church. Housing for 25 Students. The new college building is to be used for the training of student priests of the Redemptorist order and will pro- vide housing for 25 students attend- ing_the university. | The building Las an estimated cost of about $300,000. It will be of ma- sonry construction of rubble stone, laid in ashler form, with the main e trance of limestone. The centel tower will have a height of 90 feet. | The building has a width of 142 feet and has two wines, 110 feet deep, | which are connected ‘at the rear by a cloister. The structure will contain two chapels. | The new college is to be ready for | occupancy next September. Very Rev. | 1 $8,350 SEMI-DETACHED Sunshine Everywhere 6316 8th St. N.W. ALL GONE BUT ONE Six Rooms, Recreation Room, BMEQ, in Garage, De Luxe Kitchen. Developing Co., Inc. Harry Wardman, Builder 1025 15th St. Di. 3830 Oven and Heatrd Until 9 P.M. DEATH ACCIDENTAL Coroner’s Jury Renders Verdict on Fall of Workman. given by a coronmer’s jury yesterdwy | following an inguest into the death of ‘Athur Carper, 60, Tatally injured yes- | terday in an 84foot fall fram = plat- form on which he was working in the 2100 block of Bryant street northeast. Carper, who lived in the 400 block 9 N street southwest, Cied a fow anin- utes after being taken to Casualty Hospital by the Fire Rescue Squad. — e yaote Saued., 2 EXTRAORDINARY BUYS 5323 1st St. N.W, $9,500 New detached Brick Colonial near Fort Slocum Park. Seven rooms, all good size, inchuding recreation room; 2 baths; wonderiul modern’kitchen with electric refrigeration; celotexed attic; deep lot and garage. A marvelous value. 4633 Asbury P1. N.W. $9,500 American University, north of Massachusetts Ave. New detached Colonial brick and frame; copper gutters and spouting, club room; 2 baths; 2 fireplaces; breakiast alcove: electric refrigeration; front and side porches; garage. Sce it at once . OPEN SATURDAY PM. & ALL DAY BUNDAY BOSS & PHELPS Near . . e RO R Ninety satisfied home owners have found permanent com. fort in Foxall, in homes built by Waverly made comfortable and earefree by gas. Taylor, Inc., and Often commended for their genuine and lasting value, Waverly Taylor’s “Homes of Tomorrow” combine all the essentials of modern living, and give you a into the future. practical glimpse See these new homes for every modern convenience. You’ll find automatic ‘gas heat, which keeps the whole house warm automatically You’ll find a gas water heater, which provides hot water automatically, at any hour of the day or night. You’ll find a modern insulated gas range, with oven- heat control. Gas is the Fuel of Tomorrow, supplying silent, clean service and banishing household worries. Drive out Que Street and Reservoir Road, turn left at 44th Street three short blocks south to’the model home at 4447 Volta Place, and see for yourself what Foxall, and modern gas appliances, can make possible for you. WASHINGTON GAS LIGHT COMPANY Builders’ and Arckitects’ Division 411 Tenth St. N.W. DIstrict 8500 A verdict of accidental death was | Langdon Mill & Lumber Co. warehouse, | 22 Fourth Street Northwest $7,250 All brick, througheut, reconditioned two-car brick screened-in double up- and lower back porches. Screens wen ther-stripped, well plgnted vard, paved streets and_alley ice machine, H-W. H. Small cash pay- ment, balance in easy monthly payments. Open Sunday. L. E. Breunirrnger & Sons IN Investment Building, Nat. 2040 DETACHED $10,250 CHEVY CHASE, D. C. % Block West of Conn. Ave. Large lot, oil burner, electric refrigeration, open fireplace, Six large rooms, large double back porches, large back yard, Cempare s property and location with all others up to $15,000. Open, Lighted and Heated Each Day 7 to 9 P.M., Sunday 2 te 9 PM. 3820 Morrison St. N.W. H. H. CARTER, Realtor 306 Investment Bldg. Na. 4178 _Gf€LL 1 ONE IMPORTANT REASON HY FOXALL ‘-IS CALLED