Evening Star Newspaper, May 11, 1935, Page 21

REAL ESTATE. FARM INCOME GAIN AVERAGES 12 PCT. 32 States Show Increase, With 15 Getting Less. Indiana Leads. Farmers in 32 States received more fncome from sales of principal farm products and Government rental and benefit payments in the first quarter of 1935 than in the same period in 1934; farmers in 15 States received Jess, and income of farmers in Texas was unchanged, according to the Bu- reau of Agricultural Economics. A gain of 12 per cent is reported for all Btates combined. Largest increases this year over last were in Indiana and surrounding States where feeding conditions have been relatively more favorable this year, and where the increase in rental and benefit payments was largest. Heaviest decreases in income were in North Dakota, where wheat marketings were greatly reduced, and in Maine, ‘where potato prices were less than one-third those of a year ago. Two Areas Suffer. The bureau says that in all regions except the South Atlantic and South Central States income in the first quarter of 1935 was higher than for any similar period in the last four years. In the South Atlantic States Tecelpts were below either the first quarter of 1934 or the first quarter of 1932. In the South Central States re- ceipts were below 1934 and above 1932, New England States, except Maine, show an increase of 12 to 20 per cent 1n income the first quarter of this year compared with last, due chiefly to higher prices of dairy products. There were moderate gains in the Middle At- lantic States where larger income from dairy products more than offset re- duced income from crops. East North Central States enjoyed & marked increase in income the first quarter of this year, largely because of heavier feeding of livestock during the past Winter. Supplies of feed grains were reduced by last Summer’s drought in this area, but much less so than in other principal feeding areas. Also, hog prices the first quar- ter of this year averaged more than twice those of a year ago; marketings of higher-priced cattle were larger than usual, and rental and benefit payments were considerably increased this year over last. Maryland Among Gainers. Maryland, Delaware and West Vir- ginia are the only States in the South Atlantic group to show increased in- come in*the first quarter of this year. The decrease in the remaining States is attributed to less money from to- bacco and cotton dus to earlier mar- ketings. In Kentucky and Tennessee, higher tobacco prices maintained the income from tobacco despite smaller production; income from live stock feeding was increased; and rental and benefit payments were larger. Air Conditioning Manufacturers Join in De- signs for Service in Low- cost Prefabricated Houses. BY LAWRENCE TUCKER. Air conditioning will no doubt be a built-in feature ‘of the new pre- fabricated houses which are now re- ceiving a great deal of publicity throughout the country. Numerous manufacturers are join- ing forces in the design and develop- ment of these low-cost housing proj- | ects and already there are a number | built and more under construction. The great impetus given the low- | cost housing fleld by the Government and other interests has done much to | cause the attention now being focused | upon it, not only in this country, but | abroad as well. The manufacturers | are co-operating with all of these | organizations, as a tremendous mar- ket will be open to them if the public will take to the pre-fabricated idea. Huge quantities of steel, aluminum, composition wall boards, electric wir- ing equipment and other materials used in these houses will be needed if the prospective cheap-home owners will forget the traditional forms of architecture and demand the “modern design” structure. As these homes will incorporate absolutely the last word in mechan- ical equipment it was natural for air conditioning to be practically the nucleus about which these houses are built. To Centralize Equipment. One group which has made great strides in the development of this type of house has devised a unit, in con- Junction with a large electrical and equally large heating corporation, which will centralize the entire me- chanical equipment of the structure. The various devices, which are usually spread out all over the house, with the bath room in one part, the kitchen in another and the heating equipment in still another, will all be gathered together in one location. New 20-ft. All-Brick GLOVER PARK HOMES Only 10-Minute Drive to Dupont Circle Model Home 4 Bed Rooms 2 Baths i e ek woo_dn: 1 39th St. N.W. Out Wis. Ave. o Calvert, left to 39th. sulation. We; inghouse refrig- eration. _ Gas furnace. Latest Oxford * kitchen equipment. ® Reasonably Priced @ Easy Terms Open | Daily & Sunday Until ® P.M. Furnished by Gas_Appliances by Hecht Co. Wash. Gas Light Co. B. H. GRUVER THE EVENING STAR, WASHINGTON, D. C, Greenwich Forest Home Sold This attractive Colonial house, at 7114 Hampden lane, Greenwich Forest, Md, has been purchased by Lynn O. de Lashmutt of the Riggs National Bank from the Cafritz Construction Co. The house has six rooms and two baths. ‘The kitchen will be equipped with the most up-to-date cooking and re- frigeration equipment, all housed in steel cabinets. These cabinets will form a wall which will be adja- cent to a bath room wall, so that the entire piping for the house will be centrally located. An air- conditioning machine of the indirect- fired type will be located in the kitchen near the range and will consist of either an oil or gas fired boiler supply- ing heat to a finned-coil air condi- tioner. The air conditioner will also be equipped with a cooling coil which will be connected to a refrigeration machine for positive cooling and dehumidification in the Summer. As the rooms of the house are located around this central unit, it is obviously a simple matter to install the ducts which will supply and re- turn the heating or cooling air to the conditioner. Well Insulated. As the houses themselves are now being constructed of composition board on steel frames, they will be extremely well insulated, and the cost of running the heating and cooling | plants will no doubt be extremely low. In fact, the “thermos bottle” con- struction of the walls will be so effi- cient that the cooling plant will only LONG TERM Mortgage Loans Monthly Payments of $6-60 on each $1,000 borrowed, include interest and pay off loan in 20 years. have to run on the hottest days or if large groups of people are gathered inside. Also the heating plant will require very little fuel, as the heat is not being lost to the outside air through ordinary walls. air-conditioned apartments, placed on |a small foundation and surrounded with trees and attractive shrubbery. The total cost is extremely low and the public showd lose no time in grasping the opportunity to enjoy automatically manufactured weather together with the many other con- veniences. —_— |EDITOR LAUDS SHOWING OF MODERNIZATION The most consistent improvement in any division of the building market lies in the volume and number of repair and modernization projects, ac- cording to E. L. Gilbert, editor of | “Building Modernization Magazine.” “Of course, this market is basic in nature,” stated Gilbert, “and it has | been so steady over a long period of years that comparatively few man- ufacturers or private parties stop to remember the importance of repair and modernization sales. Roofings of These houses are really the same as | —Star Staff Photo, all kinds, for instance, are sold for | re-roofing to the tune of about 60 per cent of the total roofing sales each year. “The Federal Housing Administra- tion has had a great deal to do with the quiet stimulation of expenditures for repair and modernization work on | all kinds of buildings, and it is ob- | vious that the start made in that way and under that plan will have far- reaching effects—Ilong beyond the end of all current campaigns.” o Interest charged only on unpaid galance of principal. e Amount loaned—up to 607 Other plans of [financing first mortgage loans available. leges. H. L. RUST 1001 Fifteenth Street of appraised value. o Valuable prepayment privie COMPANY National 8100 Imvestment Bl Natl. 1737 Owaer e Builder (Just OF purchaser! 4 Bedrooms—2 baths (w bath _for the maid). 1004 Vt. Ave. 1433 WHITTIER ST. N.W. A home that will impress the discriminating A price that cannot be equaled on today's market. Note the size of the rooms—the perfect conditi the entire property—the latest ofpmodem equipr‘r’:;not{ Full attic. Tastefull; o rated. Ballard Oil Burner. astefully deco Copper screened throughout. Inspect this property at once, for it has been priced to sell quickly. OPEN SUNDAY NATIONAL MORTGAGE & INV. CORP. 16th St.) ith additional room and G. E. Refrigerator. Nat. 5833 Open Saturday and Price - LEGISLATURES AID LOANS ON HOMES Use of Plans More Attrac- tive to Public Being Authorized. The year's sessions of the State Legislatures are paving the way for expansion of home cwner loans by savings, building and loan associa- tions, by writing into the various State codes permission for the use of loan plans more attractive and more understandable by the public. This report of impetus toward the use of savings capital in home mort- gages from a new direction comes from the United States Building and Loan League, through C. Harry Min- ners, New York City, chairman of the league’s Committee on Standards of Practice. Minners is a former president of the American Savings, Building and Loan Institute which has helped develop the new plans by its research. Important among the changes are authorizations for the use of the so- called direct-reduction loan which re- tains the fundamental building and loan practice of monthly repayments on the principal and provides a def- inite time in which the loan will pay out. Other Provisions Important. Provisions legalizing the use of new Federal agencies and insurance de- vices such as the national housing act’s title I and II plans for insured loans and the Federal Savings and Loan Insurance Corp. plan for in- suring share accounts, are also im- portant developments in the 1935 legislation, he said. Longer term loans with smaller monthly payments have been provided in some cases. Permission to obtain larger advances from the Federal Home Loan Bank system is another type of amendment passed in some States. Several of the States have added to the old types of investment offered by | the associations new kinds of shares, | which will attract a more varied class lof investors and enable more money 3601 Cumberland Street, N. W. Situated one block west of Conne&icut Avenue, at corner of 36th & Cumberland Streets, Northwest (North of Albemarle Street) Convenienf to stores, schools and transportation six rooms - two baths - double garage Sunday until 9 p. m. $14,500 THOS. J. FISHER & CO., INC., AGENT 738 Fifteenth Street, Northwest - Phone, Dstrict 6830 SATURDAY, MAY 11, 1935. to flow into home financing through this channel. ‘The legislative developments are re- sults of detailed study given to the improvement of loan and investment plans and their appeal to the public by the associations themselves, Mr. Minners points out. The league’s Ad- visory Committee on State Legislation has spent three years in developing & model State code, many provisions of which are now being written into the actual laws govering association operation. Ten States Have Acted. States which have materially amended their building and loan codes in 1935 include New Jersey, New York, Towa, Missouri, Texas, Connecticut, Oklahoma, Minnesota, Indiana and Nevada. In Illinois and California substantial changes are in process. “There are 10,000 associations oper- ating under State charter, whose abil- ity to meet the coming loan demand adequately is dependent upon en- lightened State laws,” said Mr. Min- ners, “The most encouraging aspect of our present drive to place more than a billion dollars in new home loans this year is the co-operative action of the State Legislatures legalizing the use of new plans, which have been found more attractive to 1935 investors and borrowers. “Many of the States began to make these changes last year and a few of them rewrote their entire codes back in 1933. By the time most of the cur- rent legislative sessions adjourn the majority of the associations in this country will be permitted to make mortgage loans on the most favorable terms which any private trustee in- stitution has ever offered in this coun- try’s history. “Legislative experlence In the build- ing and loan field covers more than 80 years in the case of seven of the States. Fourteen have had laws gov- erning the associations for between 50 and 80 years and seven others date their State codes back 40 years or more. “By constant revisions, these codes contained such practical devices as to enable the building and loan associa- tions to triple their service to their communities between 1921 and 1931, rising from a $2,000,000,000 busi- ness to an $8,000,000,000 business in those 10 years.” 4517 RIDGE STREET one“biock Nortn“cf Bragiey Lane. Washingtonians! Have a voice in the affairs of your government. Enjoy the voting franchise, and yet pay less taxes. Situated just beyond the Dis- trict Line in Chevy Chase, Md. convenient to stores and trans- portation, but far enough away to enjoy an ideal suburban at- mosphere. This new detached home with furred walls, contains seven rooms and two baths. The lot is 50x125, beautifully landscaped and containing a sunken garden in the rear. @ Srje. 310200 | J. Wesley Buchanan, Inc. |216_15th St. Realtors Met. 1143 REAL ESTATE. NEW MORTGAGE UNIT SOUGHT FOR BANKS More General Financing Is Asked by Representatives of Build- ing Industry. At an Informal meeting of repre- sentatives of the building industry with representatives of the Federal Housing Administration, held at the offices of the National Paint, Varnish & Lacquer Association, Inc., here Monday, the following resolution call- ing for the immediate creation of a mortgage association with a substan- tial capital by the Reconstruction Finance . Corp. for the purpose of stimulating more general interest on the part of the banks of the coun- try in making loans under title II of the national housing act, was adopt- ed. A committee was appointed to request Administrator James A. Mof- fett of the Fedeial Housing Adminis- tration to make the following recom- mendation: “Be it resolved, that it is the sense of this meeting that the immediate creation of at least one representative mortgage association, under title III of the national housing act, is essen- tial to more general interest on the B—S part of the banks of the country in making loans under title II; and “Be it further resolved, that this meeting believes that the best inter- ests of the banks, the public and the building industry would be served by the creation of such a mortgage as- sociation, with a substantial capital, by the Reconstruction Pinance Corp., which has funds available for such a purpose; and Be it further resolved, that Ernest T. Trigg, president, National Paint, Varnish & Lacquer Association, and Frank Carnahan, secretary, National Retail Lumber Dealers’ Association, be appointed as a committee repre- senting this meeting to personally in- terview James A. Moffett, adimninis- trator, Federal Housing Administra- tion, before he sails, to urge MofTett to recommend such action to the Re- construction Finance Corp. prior to leaving on his trip to China.” Ernest T. Trigg, president, National Paint, Varnish & Lacquer Association, presided at the meeting. —_— Paint for Cellar Floors. Many householders add a room to their home by converting the cellar into a game or tap room. Special paints can be bought which will ren- der brick or cement walls damp proof. No paint is entirely satisfac- tory for a leaky cellar floor, but for a dry one there are cement floor paints which provide a smooth and colorful surface. PRICED BELOW ACTUAL COST A lovely residence of French-Normandy design with unobstructed view over Beautiful Rock Creek Park—an aristocratic and dignified home. 4807 Colorado Ave. (west of 16th Street) Surrounded by some of the finest homes in the District of Colum= bia. It was designed by one of Washington’s leading builders and is constructed of the best quality materials obtainable. AND CONTAINS ALL THE APPOINTMENTS NECESSARY IN A HIGH-CLASS RESI- DENCE WELL ADAPTED FOR ENTERTAINING. Constructed of brick, which has been painted whte, the roof being of vari-colored slate and the walks around the house being of flagstones of the same color and design as the roofing. Large lot, 65 ft. by 179.36 ft. LIVING ROOM with LARGE OPEN FIREPLACE. DINING ROOM, DEN. BREAKFAST ROOM. buller's pantry and MS. THREE BATI FOUR LARGE BED RO mirrors in_ezch roo IS SUITABLE FOR INSULATED and fioo: to second floor. room, large finished OM! m, A two linen closets SITTING ROOM IF DESIRED. ATT red but not pari ECREATION ROOM haliway and servants’ quarters with bath. CAR DETACHED BRICK GARAGE. The lot is BEAUTIFULLY LANDSCAPED. kitchen, also la’ large closets. ful iway. ONE ith disappearing stairway ge open fireplace, laundry TWO- titioned. M with In the rear of the house there are full-size shade trees, which make a perfect setting for an at- tractive rose garden. OPEN SUNDAY 1 TO DARK BOSWELL-BRASURE CO. 923 15th ST. DIST. 6410 Modern Gas Appliances Through Co-operation of the Washington Gas Light Co. - Selling ... Before Completion in Beautiful Country Club Grove Natural Beauty— 87’9 50 up D e Snrabs. aad Visit the Furnished Model Home dogwood—make this one of the most attractive colorful suburbs near Wash= jugton. A sparkliing brook winds along the rear of many of the homes. . A charming Colonial center- Taxation— hall-type home with unusually Contrary to popular opin- ,agacious and attractive floor Betauas of low sssesment; plan—6 bright rooms, 3 large are less than in D edrooms with generous homes of similar closets, 2 wood-burning fire- places, knotty pine club room, ultra-modern kitchen, large Forches, d‘llndscaped, wooded ot; maid’s room; built-in garage .. $89950 Furnishings by Hutchison's, Inc. Draperies by Ligon Transportation— lllllr and quickly reached! ‘Within 15 minutes of D. C. a Canal Road crossing ain Bridge. One of the best bus lines offers rapid service, too. To Reach Country Club Grove— lon, turesque Canal Road, cross Chain Bridge and straight fh'a‘:‘l :notgug:cnu‘ 1 mile to Development, turn left lv’l’lo Forest Lane, Virginia Gardens Development Corporation Ouwners and Builders W. S. Hoge, Jr., Agent—Clarendon 1135 6501 Barnaby Street You are invited to inspect this SILVER STAR Home any day from 2 p.m. until 9 p.m. Sundays, 10 a.m. until 9p.m. Nature has endowed Barnaby Woods with a beauty you will appreciate. Full grown forest trees, running brooks, inter- esting rolling terrain, dotted with dogwood, combine to make a perfect setting for your home. At prices ranging from $9,750 to $11,500 we are able to offer you six and seven room houses, with 2 baths distinctively designed and carefully constructed. We will build for you from your own plans or have our architects help you plan your own home. THOS.JFISHER INCORPORATED Agents. 738 15th St. Model home Furnished in Early American Antiques. Rugs by Nazarian Bros. JSHOWING LOCAT/ION OF *++ SIVER STAR MODEL HOME- IN THE D/Ile(ro/'CGwMHIA )\ BLACK LINE JHOWS THE MOSTDIRECT ROUTE TO PROPERTY b \§\\ R