Evening Star Newspaper, May 18, 1935, Page 22

B—6 REA INTEREST IS FIXED ON SLIDING SCALE Adjusted Rates Applied to| Individuals According to Credit Standing. ' Of deep importance to millions of | home owners and to all lending insti- tutions is the problem of adjusting mortgage interest rates to the indi- vidual risk. A plan of adjustment de- veloped by a Middle Western Federal savings and loan association is de- | scribed in the current issue of the | Federal Home Loan Bank Review, issued today. The association in ques- ticn is able, by employing this method, to give the borrower on the highest quality loan the benefit of the lowest possible interest charge. The institution first established a minimum rate, consistent with the cost of securing investment money and of servicing the best type of loan. Then four higher rates were set, each | 1, per cent above the precediig rate, and applied to individual loans ac- cording to a list of risk factors for each applicant for a loan or for his property. A study of the yardstick thus de- veloped shows that the association can afford to grant its lowest rate to the owner-occupant of a one-family mod- ern, fireproof home located in a restricted section having fire protec- tion, when (1) the monthly payment | i< 20 per cent of his income or less, (2) the ratio of the amount of the loan to the value of the property is Jow. (3) the loan will pay out within | 12 years, (4) the borrower carries life {nsurance assigned for payment of the | Joan and (5) he has a good record for | paying his debts and has no part of | his income pledged on other mstall- | ment purchases. | “Average” Risks. From experience, the institution | knows that the majority of its loans represent an “average” risk, requiring service costs or losses which call for an interest rate 1 per cent higher | than that justified in the ideal loan described above. | The association reports that it has | applied this ratiag system to all the home loans on its books, without causing a single objection from any of its borrowers. It asserts that, aside from value in adjusting rates to the actual degree of risk, the plan | of low mortgage cost helps to improve American housing standards. It puts 8 premium on good design and con- | struction, and on city planning and roning, since the opportunity to secure | Jower financing charges leads home | owners to exercise greater care in the quality of home construction and the extent to which neighborhood restric- tions help to preserve the character of the district. | | | Reduction Authorized. The May number of the Review also announces authorization for a reduc- | tion to 3 per cent in the rate charged | by the 12 Federal Home Loan Banks | on short-term advances to their 3,252 member home-financing institutions, which is expected to make additional reserve funds available for private home-financing throughout the coun- try. Another article in the May Review displays newspaper and mail adver- tising now usec in announcing insur- ence of shares by State-chartered in- stitutions approved for such insurance by the Federal Home Loan Bank Board. In its June issue the Review will begin a series of articles on the practical steps that may be taken by lending institutions in order to raise standards of community planning and | home construction with resulting | L-LSIALE, Georgetown THE EVENING STAR, WASHINGTON, D. C, SATURDAY, MAY 18, 1935. House Sold This house, at 3257 O street, has been purchased by Mr. and Mrs. Marion H. Hedges from Mrs. Sally McAdoo Clagett, daughter of Senator McAdoo of California. office of J. McKenney Berry. The transaction was made through the real estate —Star Staff Photo. LUMBER SHIPMENTS HEAVIEST SINCE 1931 New Business Slightly Under Pre- ! vious Two Weeks, but Second in Volume Since 1933. Shipments from the lumber mills during the week ended May 4 were the heaviest of any week since 1931, while new business booked was slightly under that of the two preceding weeks, but it was still the second largest in volume since November, 1933. Pro- duction was below that reported for the previous eight weeks. Although the gain in shipments was notable in the West Coast region evidently due largely to anticipated labor troubles, all softwood regions reported shipments and orders apprec. ! iably above those of corresponding week of 1934. Total orders were | 35 per cent above those of last year's week; shipments showed excess of 64 | per cent and production, gain of 6 per cent, over similar 1934 figures. These comparisons are based upon telegraphic reports to the National Lumber Manufacturers’ Association from regional associations covering the operations of 995 leading hardwood and softwood mills. . Plastic Material in Clocks. All except the motor parts of a new Itric clock is made of molded plastic material. The line includes desk and | wall models. SALES OF PAINTS HELD INCREASED Marked Improvement Re- ported in Industrial and Retail Transactions. Paint, varnish and lacquer sales figures for the first quarter of 1935 showed appreciable increases over the | Only New House Left at This Low Price 4819 LELAND ST. greater protection to their own invest- || ments. ‘ BUILDING PERMITS UP || | Baltimore Total of $700,350 in April Is 33.81 Per Cent Higher. | Building permits issued in Balti- | more during April totaled $700.350, an increase of 33.81 per cent over April, 1934. Permits issued in the city dur- ing the first four months of the year were valued at $1.913,150, a decrease of 33.86 per cent from the like period Jast year. The F. W. Dodge Corp. re- ports building contracts in Baltimore for March totaled $540,100, an in- crease of 12.78 per cent over March, 1934. To Create Spacious Air. ‘To create the appearance of spa- ciousness in a room, paint the doors and woodwork the same color as the walls. A room with a low celling | may be made to seem higher by bringing the ceiling color down the wall to the cornice. To make a ceil- ‘ing seem lower paint it the same eolor as the walls or even darker. | | | | o Brick Construction e Five Rooms e Open Fireplace | e Electric Kitchen o Large Basement Direction—Out to Leland St. BUILT BY ALFRED T. of Insulated Screened Lot 68x100 Garage Wisconsin_Ave. Lejt to property. NEWBOLD CYRUS KEISER, JR. 5211 Wisconsin Ave, | i For sale by | | CL. 5371 3332 Quesada Street Northwest |same period last year, according to | | Iaformation given the Federal Housing | | Administration by the National Paint, | | Varnish and Lacquer Association. | | The figures, showing percentages | of increase, indicated marked improve- {ment in both industrial and retail dealer sales and reflected improve- | ment in the automotive industry. A | general industrial expansion and re- tail business increases, due largely to | the modernization program of the Federal Housing Administration, ac- cording to a representative of the | association, were also indicated. The comparative figures: Total sales reported by 586 estab- | lishments: 1934, $61,409,630; 1935, | $70.749.836—increase, 15.2 per cent. Total industrial sales: 1934, $18,- | 759.619; 1935, $22,500,219—increase, 19.9 per cent, Total industrial sales comprising 1515 K Street N. 1520 LOCUST ROAD paint and varnish sales to industry and lacquer sales to industry, showed the following percentages of increase over 1934; Paint and varnish sales to industry, $12,773,915—increase 22.3 per cent. Lacquer sales to industry, $5,985,704—increase, 14.9 per cent. Trade sales of paint, varnish, and lacquer (344 establishments), 1934, $22,231,676; 1935, $25,856,487—in- crease, 16.3 per cent. Unclassified sales (242 establish- ments), 1934, $20,418,335; 1935, $22,- 393.130—increase, 9.7 per cent. The 22.3 per cent increase shown in industrial sales of paint and var- nish was credited by an association spokesman to the recent expansion and building improvement programs instituted by many industries and to the increased use of quick-drying enamels in the automotive industry which come under this classification. Lacquer sales increases were con- sidered due to additional automotive activity. General trade sales, showing a 163 per cent increase over 1934, were said to be due to a great extent to the effect of the modernization and repair program of the Federal Housing Administration on the sales of retail paint outlets. IRIS GARDEN TO BE- OPEN | ‘The iris garden of Charles W. Ayars, 217 Maple avenue, Takoma Park, Md., containing from 1,300 to 1.400 plants, | will be open to the public the week of May 19. More than 400 varieties of iris are represented in Mr. Ayar's collection, with a wide spread of col- ors and tones. The maximum height of bloom will be during this week. N. W. In Beautiful Shepherd Park JUST OFF 16TH ST. “THIS 1S AN ELECTRIC KITCHEN HEALTH HOME” Ideally located amid other fine homes, it's close to schools and transportation facilities. design with a finely landscaped yard. Colonial Open for Your Inspection Today. & Preuninger S Sons NAtional 2040 “Washingtow's Oldest Established Builders” | JUST COMPLETED line of cyclometer, or jump. type elec- | Cape Cod Type | APARTMENT BUNGALOW Only 55’25“ OTHER HOMES FROM $6,250 TO $6,950 N This cozy home has 4 cheerful rooms included and automatic gas heat. entirely wooded. Dr Hi out tod y to Glebe Road, ay _over Builder Developer 1222 OAK STREET Wocdlawn Village ONE OF NEARBY VIRGINIA'S NEWEST AND FASTEST GROWING COMMUNITIES and bath, and the usual appointments Brumback-built homes. including complete rock wool insulation Large lot, 60x150; beautifully landscaped and Key Bridre left 8 blocks to P and Lee riy i Don’t Fail to See This and Other Splendid Values T. J. BRUMBACK Walnut 8921 | Pre-Showing Be (Just Above | Brick Homes—Facing Into 22-Acre | Fort Slocum Wooded Government Park 5715 Kansas Ave. N.W. Homes Selling Before Completion The Price Must Be Right Only 2 left in this desirable location and no more avail- able building sites. Near bus and street car transporta- autiful Detached Madison St.) REAL ESTATE. the Federal Housing Administration by the General Electric Co. in its ef- forts to bring- about a more thorough| During the first six months of 1934 understanding of the benefits to be | there were 689 fires reported in the derived through the National Housing | forests of Maryland and during the Administration, | last six months this number was re- duced more than half, to 256 fires. EDGAR A. GUEST SLATED FOR F. H. A. RADIO TALK “What Home Means to Me” Topic of Address for National Hook-Up. "Edgar A. Guest, distinguished writer and poet. will be the speaker on the Federal Housing Administration radio program tomorrow. -This program, which is broadcast from 12:15 to 12:30 pm. over a coast-to-coast network of the National Broadcasting Co., fea- tures each week a speaker of national prominence. The subject of Mr. Guest’s talk will be “What Home Means to Me.” This program will be the nineteenth in a series of 26 friendly quarter- hour' Sunday broadcasts donated to Maryland Forest Fires Cut. 17 11 Sttt RN "ot i® BUILT b CommyNITY Almost an Aere Cottage Rented I for 38,95 Located in a nice cellent Beautitul _fioors. ™ 6606 Eastern Ave. Takoma Park, D. C. Open Sunday_afternoon. Drive past Review and_Herald straight ahead 3 blocks to_home UNION FINANCE COMPANY 916 Woodward Bldr. Natl. 7936. ‘)‘()L‘ will never realize the full joy of homelife until you see the homes in Spring Valley—comfortably nestied among stately trees and rolling hills—embodying the constructive merits associated with a/l Miller-built homes. See Today NEW EXHIBIT HOME 4974 QUEBEC STREET Handsome Miller-built Coloniel home overlooking Government Park. Modern Gas Conveniences through cooperation of Wash= ington Gas Light Company. Open Daily and Sundas 4900 GLENBROOK ROAD D Price Reduced to $8,150 110 Glenbrook Rd., Battery Pk., Md. A beautiful Cape Cod home. all brick. with six very large rooms and iovely bath. Modern in every Dossible respeci—electric kitchen refrigeration open freplace. siate Toof, copper spouting, built-in gar- age. and on a A0-ft. Jot | Follow Car Line out Old Georgetown | Rd_to Glenbrook Rd.—iurn right. Open Sunday P.M. and Each Afternoon Daily PHILLIPS 8 ‘C‘ANBY, Inc. Investment Bldg. NEW 1935 OFFERINGS 216 Emerson Street N.W. English Studio Homes, featuring Marine Rooms, 6 rooms and bath; ultra-modern in every appointment, $8,850 Emerson Street Eaat to houses. Open nday. Lovely Spring Vallev residence 1119 17th St 3236 Livingston Street N.W. Detached: 7 rooms, baths. In Chevy Chase. D. C. Colored slate roof ; Venetian blinds; large lot. At the very low price of $11,950 ° 4820 North Lane EDGEMOOR allbrick, 6-room, insulated, Electric Kitchen Health Homes. Oxford Kitchen Cabinets; slate roof: brick construction. Built-in and detached garages. Beautifully landscaped lots. Paved streets at no cost to purchaser. only $7,950 Other Homes From $7,850 to $9,250 Out Wisconsin Ave. to Montgomery Lane (opp. County House), west half block, turn rioht to houses New, ALL HOMES OPEN DAILY AND SUNDAY BUILDER OWNER Better Built—By Brown Bros. An Outstanding New-Home Value Exhibit Home: 2706 Cortland Place OCATED in the exclusive Woodley Park section, just west of Connecticut avenue, many modern features have been included in the construction and finish of these homes, such as furred walls, French paneled Sanitas walls in living room, dining room, kitchen and hall; entire basement plastered; stage with fluted columns in recreation room; furred walls in recreation room to insure protection against dampness, heat and cold; all millwork framed in; GAS HEAT; 7-cube Norge refrigeration. . .. There are only 7 of these super-quality, semi-detached brick homes in the present project, and tion, stores. Very high elevation. Facing into 120-ft. boulevard, which leads direct downtown. See them!! M Open to 9 P.M. Daily and Sunday Drive Out Kansas Ave. to Houses ‘Waple & James, Inc. 'wners and Builder: 1226 14th St. N.W. LL the living rooms have a southern frontage on this spacious, shaded terrace. There is additional open space for a large flower garden. This charming home, suggestive of the New England Colonial TWO have already been SOLD! (The last group of seven homes were sold in 7 weeks!) Beautifully landscaped front yards with stone retaining walls, 3 large bed rooms, 2 high-tiled baths, garage, 16-ft. space between houses, first floor lavatory. See these homes before you buy anywhere! A Recreation Rooms Large Lots farmhouse, contains a living room 13'6"x25'6”, large adjoining dining room, three bed rooms, two complete baths, first-floor lavatory and a recreation room. OPEN FOR INSPECTION SATURDAY AND SUNDAY From Chevy Chase Circle drive 1 block east on West- ern Avenue to Quesada Street, 2 blocks to home HENRY J. CONNOR, INC. To inspect, drive out Connecticut_ Ave. to Kennedy - Warren OPEN DAILY AND SUNDAY %IP.':; :‘ndr 'I':;:nle:.n d BROWN BROS.—Owners-Builders—Col. 1755 726 Jackson Place “?. District 3347