Evening Star Newspaper, June 8, 1935, Page 22

REAL ESTATE. F.H. A RESTATES THE EVENING STAR, WASHINGTON, 1S CREDIT POLICY All Loans Are Made by Pri- vate Institutions Federally Backed. Tn order to eliminate confusion among the general puolic, the Federal Housing Administration has. restated its method of administering the mod- ernization credit plan authorized by the national housing act. The Federal Housing Administra- tion makes no loans. All loans made under the moderni- pation credit plan are made by pri- vate financial institutions. The Federal Housing Administra- tion insures the financial institution against 20 per cent loss of all mod- ernization loans made. Types of Lenders. Yoans are made by several types of approved financial intsitutions, over 4,800 of which have advanced this type of credit to date. Several | thousand more have been approved | and are ready to make loans. | Banks make up the majority of | these financial institutions, while | finance companies also handle a large | amount of business. 5 | Approved finance companies are | divided into three groups: Those | which operate independently and | transact business more or less as banks do. but usuaily finance the home owner through a manufacturer, distributor or contractor; those which ate subsidiaries of manufacturers or commercial institutions willing to fi- nance an entire job if & certain per- ventage of the product used is sold or manufactured by the parent or- ganization; those which are subsidi- aries of similar institutions but con- fine their operations to the products, branches or dealers of their parent organizations. Other Institutions in Field. There is also a miscellaneous group, | ek as dbulking O o et | CONTRACTi FOR'ACACIA BUILDING IS AWARDED units and the like, which are making Upper left: House at 4821 Leland street, sold to Mr. and Mrs. Frank H. Whitehouse by Cyrus Keiser, jr. It was built by Alfred T. New- bold. Upper right: Spacious new mansion of Mr. and Mrs. Vinton E. Chapin, at 2510 Foxhall road, which was built by Detlow M. Mar- thinson. Below: Comdr. and Mrs. Wilbur J. Ruble have just bought this house at 1808 Hoban road, Colony Hill, from the firm of Boss & Phelps, builders. —Star Staff Photos. s large number of modernization loans. Detailed information as to the op- eration of the modernization credit | plan or the mutual mortgage insur- ance plan may be obtained from local Better Housing Committees or from the Federal Housing Administration, | Washington, D. C. Turner Construction Company of New York City to Erect New Office Structure. | Announcement was made today by William Montgomery, president of the Acacia Mutual Life Insurance Co.. that the contract for the etection of its new home office building has been awarded to the Turner Construction Co. of New York City. President Montgomery stated that with the awarding of the contract construction work will go forward im- | mediately on the commanding site at New Jersey and Louisiana avenues, facing the United States Capitol. Air Conditioning [¥ (D iHeir) Jibey e come Major Require- ment in Modernization. BY LAWRENCE TUCKER. During the past few years air con- | ditioning has become a major eco- | The building will cost in excess of nomic requirement in the moderniza- | $1,000,000, and is expected to be tion of old structures and in equip- | ready for occupancy within 12 months. ping new buildings. | It also was announced today by Not very long ago the installation President Montgomery that a con- ot a central heating plant was con- | vention of Acacia officials, branch sidered quite a luxury, and even at managers and representatives will be the present time nearly 50 per cent | held here during August, at which of the homes in America are still | time cornerstone-laying ceremonies without that convenience. The ma- &re to be held. fority of the fine old “brownstome- | Plans for the new building have front” houses in New York are heated |been drawn by Shreve, Lamb & with open grates in each room, and“Hu‘mon. designers of the Empire the same condition exists in many |State Building and other famed 'NEW REAL ESTATE COMPANIES FORM i Special Dispstch to The Star. | BALTIMORE, June 8.—F. Latimer Barkley of Washington is one of the incorporators of Raum Properties, Inc, of Chevy Chase, Md., to engage in general real estate brokerage busi- | ness. The capital stock consists of 300 shares common stock, par value $100 each. Harry B. Pitts of Chevy Chase and Edgar B. Griffin of Ken- sington are the other incorporators. Arthur K. Olsen, also of Washing- | ton, is among the incorporators of the New Homes That Have Changed Hands as Capital Real Estate Nears “Boom” - city, to deal in real estate. The cap- | of this city and Benjamin F. Lee of ital stock consists of 300 shares, par | Annapolis, Md., are the other in- value $10 each. Benjamin L. Orchard ! corporators. First Showing—NEW BRICK CAPE COD BUNGALOW 37’250 On Conveni Terms Other Homes From $5,250 to $6,850 Priced at Only D. €., SATURDAY, JUNE 8, 1935. REAL ESTATE. LUMBER MOVEMENT CONTINUES DECLINE Production, Shipments and Orders Drop From Levels of Previous Week. The lumber movement during the week ended May 25 continued its de- cline of the past three weeks, with production, shipments and orders dropping from the levels of previous weeks. New business was, however, 49 per cent above production. Orders and shipments were also somewhat in ex- cess of those of the similar week - of 1934. These comparisons are based on telegraph.c reports to the Nae tional Lumber Manufacturers’ Asso- clation from regioual associations, cov- ering the operations of 935 leading hardwood and softwood mills. No Cords on Irons. Btandard eleotric irons are con- | verted into cordless models through a | new wired ironing stand. Electric Tea Kettle. | A new electric tea kettle can be | plugged into any outlet. It whmh-l when it boils. | A Lovely New Home 3412 ‘Oliver Street [ ] Just Of Broad Branch 2 Sold Before Completion TOLEDO GUARANTY CORPORATION Sales Agent 1026 Woodward Bldg. NATIONAL 2626 evy Chase. D. C.—one ance of Connecticut Ave., home—3 splendid bed- All-briek. In one of the most convenient sections of block of the n School, walkin A’ spaciou Open Daily and Sunday to 9 P.M. Built by Paul T. Stone, Inc. Horning Realty Co. Tower Bldg. Natl. 2030 of the finest homes throughout the | structures. | Severn Grove Development Co. of this country. Potential Field Great. ‘With such a small percentage of the home dwellers of the Nation en- | joying the benefits of central heat, | and an even smaller group living in automatically heated establishments, | the poteritial field for improvement along those lines is obviously tre- | mendous. | In fact it would seem to be such | an important problem that the mat- | ter of air conditioning homes and ' other structures (in the sense of sup- plying specially treated air) should take a back seat to the mere moderni- mation of the heating systems. On the other hand the sudden popu- farity of air conditioning for all- year comfort has made it necessary for builders and renovizers to seriously consider this type of plant if they hope to avoid the installation of ob- | polete equipment. Demands of Home Buyers. | Buyers of new homes are beginning to demand systems which will either | give them Summer, as well as Winter | comfort, or at least provide a means | for the future addition of that vital necessity. New office buildings are being erect- ed with air conditioning as a built- | in feature, due to the fact that tenants | are more and more demanding cool, comfortable Summer quarters in which to work. Older buildings are installing up-to-date equipment in order to hold their present tenants and attract tenants from other buildings. .Until the time arrives when all buildings are both heated and cooled, the structures equipped with year- round conditioning apparatus will no doubt enjoy a deserved popularity, re- stlting in fewer offices lying vacant. Eaters Demand Coolness. Restaurant operators everywhere have found that their patrons are demanding cool, comfortable places in which to enjoy their meals. They have found that in air-conditioned restaurants checks are larger than they formerly were in the Summer, end that their business has actually Inereased during the hot periods. Before the advent of air condition- Ing, theaters were faced with terrific loases from reduced patronage in hot weather, but now maintain an almost constant attendance the year around. ‘The same results have been experi- enced in almost every place where air conditioning has been installed, and this new science has become the great equalizer of the seasons, both eco- nomically and from the viewpoint of comfort. SALE or TRADE 7710 13th St. N.W. A beautiful center-hall, de- tached brick home in Shepherd Park. On corner lot, approxi- mately 60x120 feet, with lovely shrubbery and flowers. Nine exceptional rooms, two tile baths, first-floor lavatory, sun room, screened porch, full attic, automatic heat, electric refrigeration and 2-car garage. THE PRICE AND TERMS ARE RIGHT Open All Day Sunday SHANNON & LUCHS| 1505 H NA. 2345 502 Mississippi Ave., Sligo Park Hills A new Cape Cod home, located on a beautiful wooded lot in this lovely residential section. Contains five rooms, bath and recreation room, living room with fireplace—all rooms exceptionally large. Ample closet space. Screened and weather- stripped throughout. ~Slate roof, copper gutters. Garage. Price $8.450. To reach, drive out Georgia Avemue or 16th St. fo Silver s Clatic v PN ) | to oo, ope o o o ne jon i iy e on Saratoge Avenue (o Mississippi Avenue and home. Walter P. Baliles, Owner & Builder Phone—Silver Spring 1-F-31 DO NOT FAIL TO SEE THIS HOME 2739 CHESAPEAKE ST. N.W. (Forest Hills) A beautiful Center Hall Colonial heme situated in a very exclusive residential section, and less than one year old. A custom-built home for the owner. On a wooded lot 70x175 feet. Offered for sale far helow the actual cost of comstruction, this besutiful heme contains 8 large rooms, 3 baths, reereation roem with fireplace, finished attie, a thousand- dellar oil-burning heating plant, large side porch, 2-car built-in garage. House is insulated, has copper pipes throughout, copper gutters and down lpon:.:. Inmi many other features that lack of space does not permit explaining. OPEN SATURDAY AND SUNDAY Drive north on Conn. Ave. to Albe- marle St., turn right three blocks to Linnean Ave., and left to Chesapeake REALTOR Street, Tower Bldg. DI 3100 Open for Inspection Day and Evening 215 THIRD ST, IN ASHTON HEIGHTS One of Nearby Virginia's Aftractive Home Communities ed and weather-stripped lot, 57x150, with marvel- ous eak trees ¢ Bus te Downtown Tiled ba Detached garage Model kitehen Rock wool insulation Drive out Wilson Blvd. to Clarendon Business Section. turn left at momument on Jacksom St. to Pershing Drive, right 4 squares to Lincoln St. sec our Ngm @f property. Don't Fail to See This and Other Splendid Values =g T. J. BRUMBACK ' 8921 Seven Rooms, Two Baths Brick Homes . . . Slate Roofs Where . . . in _any section of Washington and ESPECIALLY in Georgetown can you find se much for ittle . « . where? e e P Financed Under Federal Housing Administration Plan pltbeianiubosstilichation il Ssbmationstt e e 1665 34th St. N. W. Drive South on Wiscon- sin Ave. turn right inte 34th Street, turn south on 34th $t. te preperty. Open Daily to 9 P.M. HENRY J. ROBB, Inc. " 1024 Vermont Ave. Dist. 8141 ABOV! the average in size, this spacious brick resi- dence with seven rooms, two baths, recreation room and mod- ern gas kitchen offers the acme in home comforts and conveni- ences . . . in addition, two lawns, both front and rear, artistically and beautifully landscaped, You are denying yourself a rare treat g: failing to inspect these lovely lomes. IN VIRGINIA (Taking in Buffalo Park) on the new Lee Memorial Boulevard The recent announcement of the name “Hillwood” applying to & newly opened seetion of Buffalo Park was received with such favor that many have suggested that the whole development be called “Hillwood,” dropping the name Buffalo Park. With its rolling hills, woods and streams, the name fits so perfectly that home owners have urged us to make this change now while the section.is still young. The large and beautiful tract of 227 acres recently added makes this new subdivision now the largest single development in Washington metropolitan area. Thirty-three new homes have already been started, comprising a select variety of architectural styles—all strictly modern and complete in every respect, taking full advan- tage of every worthwhile modern improvement in home building. Stone, brick and eom- binations of stone, brick and frame, all detached. Center hall and Cape Cod Colonials, English manor houses, studio homes, and other popular styles to meet the tastes and preferences of every one. “Hillwood” is a result of highly organized effort to provide the kind of residential suburb for which thousands of Washington families have been seeking. To an already BEAUTIFUL ROLLING COUNTRY Ras been added the FINEST MODERN ARCHITECTURE )L‘A. F. Thelander, ona of the most outstanding home designers in this section. BEST MATERIALS AND CONSTRUCTION by Home Construction Corp., Lohr Reeves, Wedel Parks, Kauver and other reliable builders. ALL CITY IMPROVEMENTS Gas, water, electricity and sewers installed by The Blackwell Engie neering Company. PLATTED, RESTRICTED AND SUPERVISED by Eakin Properties Corporation with the assistance of Mr. 4. 7. Thelander, Architect, Present buyers will get the benefit of the Lowest prices and easiest terms. Don’t buy anywhere until you get the facts about “Hillwood.” ACCESSIBLE AND CONVENIENT 18 minutes from Memorial Bridge—handy fo the ettractive little suburden e o s emeren, for storeas venvots, ehurches and. doily ‘mecessitien. TO REACH PROPERTY: Until the eastern section of the New Lee Memorial BOULEVARD is opened, completing the direct route jrom the present sec- tion (on which Hillwood is located) to the Memorial Bridge, we advise using the LEE HIGHWAY (Route 211) to Falls Church. ive two 3 es beyond traffic light—turn left and continue one-half mile to Hillwood. EAKIN PROPERTIES CORPORATION OWNERS AND DEVELOPERS : Phones — City Office — Met. 3446 Virginia Office—Falls Church 573