Evening Star Newspaper, March 30, 1935, Page 18

91,000,000 SPENT ON HOME REPAIR Aggregate Volume of Loans by H. 0. L. C. to March 14 Totals $2,506,226,133. More than $51,000,000 has been spent or awarded in contracts to date for necessary repairs on borrowers’ homes during mortgage refinancing operations by the Home Owners’ Loan Corp. The aggregate volume of loans by the corporation up to March 14 reached $2,506,226,133, representing the refinancing of past due mortgages on 830,315 individual urban homes throughout the country. Expenditures .for essential repairs and reconditioning are authorized by law to be incorporated in the loans, which, the corporation emphasizes, are restricted to home owners who were threatened with foreclosure under their original mortgages. Although the main purpose of repairs was to protect the property against depreciation, the actual work has opened a wide market for labor and construction materials in many communities and, by its ex- ample to other home owners, has as- sisted the better housing program of the National Government. Employment Provided. Corporation officials estimate that {mprovement contracts let to date provide for almost 6,000,000 “labor days” or about 42,000,000 man hours of employment nationally in the con- struction trades. About 125000 pri- vate contractors, small and large, it is estimated, have been awarded con- tracts through the corporation. Contracts executed in all States number 298,577, amounting to $51,- 348,212. Of those 206,357 individual repair jobs to & dollar volume of $32,- 324,990 have been actually completed and approved after final inspection by the corporation and the home owner concerned. An additional 180,- 000 cases are pending, which will bring the tota] of disbursements for repairs to approximately $81,000,000. Most reconditioning jobs include several types of repairs. Analysis of the work in one State shows that ex- terior painting is required in 84 per cent of the reconditioning loans al- Jowed and roofing repairs in 47 per cent. The principal remaining items include chimney and foundation re- pairs and replacement of plumbing and heating equipment. Work Properly Planned. Repairs are carried out under the direction of the reconditioning divi- sion of the gorporation, consisting of personnel trained in architecture and building whose duty is to see that the work is properly planned and effi- ciently done at the least expense and that the building interests in the com- munity are treated fairly. The division acts as agent of the borrower. The contractors are chosen by the home owner after the submission of two or more bids. The work, as completed, must be entirely satisfactory to the home owner before it is approved and Ppaid for. A simplified system for the econom- ical handling of hundreds of thou- #ands of small repair jobs, which now average $170 each, was set up on the | S basis of “master specifications” issued to contractors which avoid the need for detailed analysis on the part of | 2 the bidding contractor, who simply|E bids on the work itemized by the cor- poration and refers to the correspond- ing sections of the master specifica- tions for guidance as to standard of materials and workmanship. " WILL ERECT HOMES Arlington Attorney to Build 27 Low-Priced Dwellings. Frank Lyon, Arlington County at- torney and real estate man, is plan- ning a group of 27 low-priced homes to be erected on a tract of land ad- joining his Lyon Village development. Work on the first group of homes planned, to sell from $3,950 to $4,950, will be started shortly. The houses will be situated on Lyon's 4-acre tract west of the rail- road underpass between Lyon Village and Cherrydale. The moderately priced homes will contain from three to four rooms each. Mr. Lyon esti- mated the entire development will cost approximately $100,000. BEST BUY 1 N Chevy Chase 3913 Ingomar St. WORTH A LOT MORE $14,950 Center-hall_plan; 4 bed rooms on second floor. 2 bed nd 2 stor- age rooms on third floor, TWo complete baths. Reconditioned throughout and like new. Wide lot. garage. Excellent Residential Lecation. Open for Inspection Sunday and Daily. Drive west (left) from Con: cut Ave, 3 Dblocks to h WM. M. THROCKMORTON Realtor Investment Bldg. DIist. 6092 The Riviera Beach Develop- ment Company would like to have some live active Real Estate Company to represent them in Washington. Riviera. Beach is one of the largest water-front developments in Maryland With Catholic and Protestant churches, stores, | etc. There are now a number of Washingtonians owning properties here. This would make a very profitable con- REAL ESTATE. Beautiful Home Built for New home which has just been completed at 2425 Foxhall road, in the estate section, for Dr. and Mrs. William P. Herbst. The house is an anno- Doctor on Foxhall Road tation of American and Engtish architecture and contains 16 rooms and 6 baths. The transaction was made through the office of C. H. Hillegeist Co. Figures Reveal Improvement In Building Throughout U. S. General improvement throughout | sents an increase of 174 per cent over the country in the construction in- | December, 1934, and 312 per cent bet- dustry and the affiliated building | ter than January, 1934. materials business is shown in a| Building permits in St. Louis during report made public today by the | February, 1935 showed an increase financial investment firm of Fenner | of 134.3 per cent over February, 1934, | & Beane. The report is as follows: | the Bureau of Labor Statistics indi- February, 1935, building permits for | cates. The managing director of the all classes of construction in 772 cities | St. Louis Better Housing Campaign | MAY HARDWARE CO. MODERNIZATION CREDIT WILL OPEN NEW STORE| APPROVED BY BANKERS One of Oldest Firms in Cnpiulfiredenl Housing Administration Will Hold Ceremonies Wednes- Receives Letters Assuring day, Thursday and Friday. Co-operation. The new store of the F. P. May| The Federal Housing Administra- Hardware Co. at 1818 New York ave- | tion is in receipt of scores of letters nue northeast, which cost a quarter | from bankers in all sections of the| of a million dollars, will be opened | country expressing approval of the with ceremonies Wednesday, Thursday ! modernization credit plan. Mail of showed a 39.7 per cent increase in number and 32.2 per cent in value over February, 1934. Building permits for February, January, 1935, show 5.8 per cent in- crease in volume and 14.4 per cent in- crease in value. This is significant in the light of past experience. February usually shows a let-down. According to a tabulation of industrial corpora- tions business increases, the building material group lead all other groups in 33 industrial classifications. A study of 53 building material manu- facturers’ profits show an increase of over $14,000,000 for the year 1934. The National Lumber Manufac- turers’ Association reports that orders booked during the first 10 weeks of 1935 were 25 per cent above orders booked during same period of 1934. The paint and varnish industry paid wages in January, 1935, to 1,100 more workers than were employed in Jan- uary, 1934, according to Bureau of Labor Statistics. The pay roll for one week in January, 1935, was estimated at $498,000, an increase of $50,000 over January, 1934. Building permits totaling $4,206,000 were shown in the State of Texas during January, 1935. This repre- SR all Edge 1935, compared Wwith | ) B says, “the bulk of the work done in the remodeling program does not re- quire a permit; hence, these figures in | no wise reflect the great volume of | work that has grown out of the cam- paign. It merely indicates a trend.” The Westinghouse Electric and Manufacturing Co. reports that during the year 1934 sales of their products were 39 per cent better than 1933; 11934 sales of domestic refrigerators showed a 52 per cent increase over the previous year; 1934 sales of electric | ranges were 104 per cent better than | during the year before. | The Norge Corp. reports a 243 per ‘ cent increase in refrigerator ship- | ments during January and February, | 1935, compared with the same period | in 1934. Revere Copper and Brass reports a | 159 per cent increase in net income | for 1934 as compared with 1933. | | $10,000 for Civic Program. Ten thousand dollars have been | donated by leading Detroit industrial- | ists, bankers and business men for the | purpose of furthering the civic pro- gram for better housing in the Middle ‘Weséern metropolis. ) T o Estte Half acre ground—Studio Library and Friday of next week. More than 3,000 invitations have been sent out to customers in the District, Virginia and Maryland by the wholesale firm. The May Co., one of the oldest hard- ware firms in the city, celebrated its sixtieth anniversary last year. It was located for years at 469-477 C street. The new home is a two-story struc- ture. It is situated on a lot with 200 feet frontage on New York avenue. A number of door prizes have been arranged for the opening, and Peter McLaren, so-called world champion wood chopper of Australia, will be on this character has been particularly | heavy recently, with bankers assuring | their co-operation and attesting the | soundness of the plan. | One banker in the State of Wash- ington wrote: “From the beginning I have been very favorable toward this plan and have talked and advertised it everywhere I went. I wish you every i | success which this great movement | merits and feel that you are taking | a forward and effectual step in con- stantly keeping in front of bankers the necessity of encouraging this type of credit for the good of our Na- hand for a demonstration. tion.” (Adjoins Lucas Lane MODERATE PRICED surroundings. “This ground is perfect for subdividing and will be the most attractive development of the year.” —Alfred T. Newbold. Glenbrook Knoll, Section 2 35 BEAUTIFUL SITES to be improved with charm, natural beauty of setting, convenience of location, and absolute lack of any objectionable Follow the car line out Old Georgetown Road less on Georgetown Road) HOMES of architectural 6811 Glenbrook Road ATTRACTIVE TERMS Bordering on the open countryside, located on a sunny half-acre, this charming Colonial offers all one could desire in a home. It contains 5 bedrooms, 3 baths, large living room, studio wood-paneled library, dining room, kitchen, breakfast alcove, sleeping porch, 2-car garage, recreation room, bar, oil heat, electric refrigerator. Drive out Wisconsin Ave. to Edgemoor Lanme (at Bank of Bethesda) turn lejt & squares to Glembrook Road, left” 2 squares on Glenbrook Road to Property. Open Saturday and Sunday R. B. WARREN 1108 16th St. 1l Blossoming Out In All Its Loveliness ISITORS will view with mixed ad- miration and envy the beautiful homes that comprise this splendid community. Those desirous of living here should obtain information of the existing oppor- tunites. Re-sale and new homes are being offered at prices that constitute heretofore un- obtainable values. This condition cannot last in view of the housing shortage, that daily is becoming more acute. INSPECT TODAY 4519 Klingle St. N.W. —and obtain more detailed information cencerning the various offerings now ob- tainable in Wesley Heights. House open till dark Saturday and Sunday. -Other available values range from the small bungalow type el dwelling to the large family home. than one-half mile from the Bank of Bethesda. Newbold-Johnson-Builders, Inc. Ouners and Developers Wisconsin 3060 THIS NEW HOME 502 Goddard Road, Battery.Park, Md. o Price, $9,150 All-brick construction. Slate roof. Six large rooms. screened porch. Modern electric kitchen. Ideal location. Directions: Out Wisconsin Ave. to Bank of Bethesda. Follow car line to Battery Lane. Left to property. . CYRUS KEISER, Jr. Lovely 5211 Wisconsin Ave. LONG TERM Mortgage Loans Monthly Payments of $6-60 on each $1,000 borrowed, include interest and pay oft loan in 20 years. o Interest charged only on unpaid balance of principal. e Amount loaned—up to 60% Other plans of of appraised value. THE EVENING STAR, WASHINGTON, D. C, SATURDAY, MARCH 30, 1935. INSTITUTE FOUNDS GRADUATE BRANCH Advanced Awards of Two Kinds Contemplated by School Officials. A graduate department is now be- ing established in the American Sav- ings, Building and Loan Institute, the educational and research organiza- tion of the $7,000,000,000 thrift and home financing business, according to Charles P. Axtmann, Y Ohio, president of the institute. Plans are under way for granting advanced educational awards of two kinds, in eddition to the standard three-year diploma already held by 350 executives and staff workers in building and loan associations. The new awards will be known ss the graduste certificate and graduate di- ploma, requiring respectively one year and two years of work in the pro- fessional school in addition to the standard three years. The first of these advanced degrees will be granted this June at the same time that spproximately 200 more building and loan people complete their three-year courses in the in- stitute. Requirements for the gradu- ate awards center upon an under- standing of real estate and building and loan laws and thelir interpreta- tion through court decisions. For the graduate certificate special emphasis will be placed upon ability to relte Easy Terms 6 Rooms and bath— semi-detached brick— with 2-car garage—3 porches. Just recon- ditioned. 3420 Warder St. OPEN SUNDAY 10 AM. TO DARK INCORPORATED 738 15th St. District 6830 REAL ESTATE. the irs of the home lending insti- tution and its practices to current business conditions. “The aim of our institute work, and particularly of our graduate depart- ment is to give America the most nearly perfect system for financing home ownership which is to be seen anywhere in the world,” said Mr. Axtmann. “We have been building toward that aim recently by way of the State legislatures and the Con- gress, but from now on the perfect- Curtis Millwork Lumber by W. T. Gi & Bro. ing of the system lies in the hands of enlightened management which the institute undertakes to produce.” Putty for Plugging. For those cracks and small surrounding the holes in nmml?g pipes or wires entering from outdoors, bituminous putty should be used as & filler to prevent the infiltration of water. It is an elastic bond little affected by temperature and vibration, BEECHWOOD In Chevy Chase New Exhibit Home 6412 Meadow Lane Detached Center Hall, STONE Front . 4 Bed Rooms, 2 Baths Attractive Waqoded Lot Four other houses under comstruction. Drive out Conn. Ave., past Chevy Chase Circle to Thornapple St., turn lejt 1 square to Meadow Lane and left to property, OPEN DAILY AND SUNDAY G. F. Mikkelson & Son Owner and Builder MILTON F. SCHWAR, Sales. 3353 RITTENHOUSE ST. N.W. SLIGO PARK HILLS Surrounded by the Woodlands of Beautiful Sligo Valley Park HSITSIERG NEW HOMES GLOVER PARK 7 to 9 ROOMS—2 BATHS $9,850 TO $10,850 EASY TERMS 2326 to 2334 39th St. N.W. Fine new home of supe- rior all-brick construction, slate roof, Johns Mansville insulation, panelled recre- ation room, built-in gar- age, gas heat; completely screened and weather- stripped; 3 and 4 bed rooms; ample closet space. Drive out Mass. Ave. to Wisconsin Ave., turn left to Calvert St turn right to 39th St., and left 2 blocks to houses. Modern Gas Appliances through the co-operation of the Wash- ington Gas Light Co. Built by A. S. Gardiner J. Wesley Buchanan, Inc. 918 15th St. Realtors Met. 1143 The heart of 202y book noo mer days. kitchen with NO. 8 PARKSIDE ROAD Large Wood-Paneled Living Room— Five Sunny Bedrooms this wonderful home is an immense living room enriched with eighteen-foot wood-pan- sled walls, Pennsylvania flagstone fireplace and ks. Soon you’'ll open wide its doors to a tree-sheltered flagstone terrace at side . . . a place just built for fragrant Spring evenings and nearby hot lazy Sum- Adjoining is a sun-flooded dining room and model every convenience, including electric refrigeration. shower and linen closet. garage at rear. 7906 Georgia Ave. Four easy steps at end of living room lead to level of two light, airy bed rooms, a fully tiled bath, Another step-up and you'’re on the level of master bed room with extra large tiled bath. The third level is comprised of two large bed rooms with enclosed storage space. The wood-paneled recreation room in basement has adjoining lavatory and outside exit to two-car This is truly a value which cannot be duplicated in or around Washington . . scale building operations can make possible. Nmr; \A,ASHING}'"%N E. BROOKE LEE, President . a value which only large SHepherd 2400 DIRECTIONS: Turn right from Georgia Avenue on Sligo Avenue, continuing to No. 8 Parkside Road, Sligo Park Hills. 8 ROOMS—3 BATHS FURNISHED MODEL HOME 6209 MELVILLE PLACE, CHEVY CHASE, MD. ® Step-down Living Room @ Delco Oil Burner ® 2 Screened Porches FEATURES ©® Heated Clubroom ® Concealed Radiation ® Herringbone Floors ©® Marble Fireplace ©® Copper Spouting ® Furred Walls WE WILL CONSIDER YOUR HOME IN TRADE To reach this home: From Chevy Chase Circle out Brookville Road, 1 block past East Bradley Lane, to Raymond St.; turm right 2 blocks to houses. Drive Out Today—Open Daily and Sunday Till 9 P.M. H. L. RUST COMPANY || mucsnw ARRY WARDMAN, Agent 1001 Fifteenth Street National 8100 “Life Is financing first nection. Write morigage loans available. © Valuable prepayment privie leges. Priced for Quick Sale THE RIVIERA BEACH ||| - ” DEVELOPMENT CO. 100 St. Paul St. Baltimore, Md. Phone Di. 3830 Worth Living in a Wardman Home®'’