Evening Star Newspaper, June 22, 1935, Page 21

REAL ESTATE. CHANGEINA.0.L.C. SET-UP EXPLAINED Increase in Bond Limit Is Considered Adequate for Needs. ‘The Federal Home Loan Bank Board today issued the following statement to make clear the public significance of those sections of the new home mortgage relief act, signed recently by President Roosevelt, which affect the “The most important feature of this jamending act, as far as the Home Owners’ Loan Corp. is concerned, in- reases the authorized bond issue of he H. O. L. C. from $3,000,000,000 to 4,750,000,000 in order to provide for pplications already filed, and for new pplications which must be filed with- fn 30 days after the new act takes flect, and for other purposes. New ppplications will be strictly confined home owners who are clearly in is and threatened with foreclo- ure and must be filed by midnight une 27. “This increase of $1,750,000,000 in uthorization of bonds issued by the O. L. C. is considered sufficient th to take care of the remaining gible cases of home loan distress vhich are beyond the scope of earlier thorizations and to provide $300,- 0,000 for direct investment by the eral Home Loan Bank Board in vate home-financing institutions, or bonds, notes or debentures of the Home Loan Banks, as author- d by another section of the act. “A second important amendment of he new measure emphasizes the crim- hinal sections of earlier legislation by lproviding penalties for misrepresenta- ion and other specific offenses on the jpart of persons dealing either with he corporation or with home owners ho have applied for corporation ns. “Another provision of this act sets ftorth that, effective 90 days from en- tment, no person shall be appointed or retained as a salaried officer, em- ploye, agent or attorney ia any re- gional or State office of the Home lOwners’ Loan Corp. who is at the me time an officer or director of firm, corporation or association lengaged' in lending money on real state. The same section prohibits he appointment or retention by any State or district office of the corpora- on. of any person who was not a bona fide resident of the State served by such office for at least one year diately preceding the date of his )ppointment. “Other provisions of the new act vhich are of public importance are 0se which— “Broaden the powers of the corpo- ration to permit it to make loans on eal estate on which there is more han one dwelling, serving not more han four families, provided that such eal estate include property used whol- iy or in part by the owner as his own e or homestead, and have a total value not exceeding $20,000. “Establish s uniform method by hich the corporation may handle tax burdens represented by general and pecial tax levies in all the States. “Eliminate the provision under hich the corporation has taken over home mortgages or other liens held py institutions which were in liquida- pion, where the mortgagor not pecess: in involuntary default. ‘Provide that no person shall be llowed to act as appraiser for the tion if employed by any com- ny holding a loan on the property jr if interested in any way in the sub- 't matier of the loan.” Perfumed Lacquer Popular. A perfumed lacquer now on the et 18 proving very popular as a ting for the inner surfaces of eau drawers. An Opportunity to Trade Your Old House for a New Detached House ChevymChase 6207 & 6209 Melville Place $13,500 & $15,000 Between Raymond St. and Bradley Lane—1 block east of Brookville Road. Harry Wardman, Inc.. 1512 K St, DI. 3830 Albert W. Tucker of the six rooms and two baths. THE EVENING STAR, WASHINGTON, Locust Road Sold National Geographic Soclety purchased this attractive home the firm of L. E. Breuninger & Sons, designers and bullders. Located "at 1510 Locust Office Renters Show Preference For Air-Conditioned Space During the past two years air con- ditioning has taken a position in the foreground among new developments in the office building industry, and the renting public has been made “air condition conscious,” E. B. Mur- ray told delegates to the twenty-eighth annual convention of the National Association of B Owners and Managers, held in Cincinnati last week. In support of this statement Mr. Murray called attention to figures from one of the major manufacturing companies, showing that 39 per cent of the 1934 installations were in office buildings. A survey of installations last year in 13 cities throughout the United States, he stated, disclosed that the “tonnage” for air conditioning had increased approximately 21 per cent during the year. “One of the major utility companies in the East, in conducting an investi- gation based entirely on the medical effects of air conditioning, reports that in one office having a large personnel a reduction of 33 per cent in time lost by various employes through illness has been acquired since the installa- tion of air conditioning.” In another plant a similar analysis indicated that the time lost by employes on account of colds and other illness had been reduced 40 per cent by air conditioning. engaged in the manufacture of cigars, where the ordinary expectancy as to drop in production in the Summer under the Winter was 11 per cent, it was found that after conditioning New Brick Homes GLOVER PARK 2328 39th St. N.W. 3 and 4 Bed Rooms 2 Baths OPEN DAILY 10 AM. TO 9 P.M. FURNISHED Drive out Mass. Ave. to Wiscon- sin Ave., turn left to Calvert St., turn right to 39th St. and left 2 blocks .to houses. Modern Gas Appliances through co-operation of tl Washington Gas Light Co. Built by A. S. Gardiner J. Wesley Buchanan, Inc. 916 15th §t. REALTORS, MET.1143 Just Completed English-Type Bungalow and Priced at only i $6,500 On Convenient Open for lon Day and Evening 4th and Garfield Sts. LYON PARK b: ') tive Home Commi onhd Nesrby Virsinia's Atiractive ® Bereen: ® Beautiful landsc: o Near bus. school. stores us rooms bath $pet.ann © Large floored attic insulation a and weather-stripped aped lot with rear To inspect—Drive to Lyon Park Station and stores—then 3 squares west on Pershing Drive—See our sign and property. Builder Developer T. J. BRUMBACK WAlnut 8921 In still a third plant | the Summer production equalled the Winter production.” While, as far as is known, the speaker stated, there have been no actual tests made for increased effi- clency among general office employes where conditioning has been installed, “it is reasonable to expect that if such an investigation were made the 1 resultc would prove equally favorable.” “Alr conditioning is here,” he in conclusion. “It is here to stay. It is going to be perfected and accepted just as the telephone, the radio and the mechanical refrigerator have been perfected and accepted. In a very short time it will be your problem, just as the elevator, the lighting sys- tem or the heating plant is today.” LATIMER BUYS HOME Prince Georges G. 0. P. Chairman Acquires MacCartee Place. Dr. Thomas E. Latimer of Hyatts- ville, Md., chairman of the Prince Georges County Republican State Central Committee, has purchased the home of Robert G. MacCartee, official stenographer of the Seventh Maryland Judicial Circuit, on Frank- lin street near Wine avenue. New Brick Bungalows in Huntington Terrace 4 Sold Before Completion 4,950 $450 $47.50 Cash Monthly Large Living Room, 2 Bed Rooms. Modern Bath and Kitchen Equipment, Hot-Water Heat. Detached Garage. Lot 50x132. Appraised and A d the Federal H‘D‘l‘fll";:"’l‘m(z!flm Drive out Wisconsin Ave. or Con- to eads. in Huntington Terrace. 000000000 Henry J. Connor, Inc. 726 Jackson Pl. N.W. ME:. 4568 Completed 11,500 Corner 31st Place and Tennyson St., the most desirable sections of Chevy Chase, these 6-room houses are stand-outs living rooms with wood-burning fireplace, built-in garage with overhead doors. are extremely well appointed. Large bed rooms with ample closet space, beauti- said | ing gain over the preceding week. CAPTAL SECOND - I W BLLDING $3,711,944, May Record, Second Only to New York in All United States. ‘ashington was second only to New among all cities of estimated cost of g gii i : § i 2 5 i H gk % i E i ki 1 g ! I g ; | ; | f I ; : ; : s ? h i i g ¥ i § E ] ! § ] B : § 8 ‘ s E | ! i g | : B i L I+ Eg# : ! of Colonial design from it contains Staff Photo, LUMBER PRODUCTION GAINS IN FEWER MILLS Though 60 fewer mills reported during the week ended June 8, 1935, than during the preceding week, lum- ber production totaled 7 per cent heavier. Shipments from: the mills ‘were 10 per cent less and new busi- ness dropped 21 per cent. Revised figures for the current week will nar- row the differences. Declines were in softwood reports, hardwoods show- ? i B g i : ' | road, ~—Star g i | | E g ; ¥ I i f 535 il § : E i : | | E ; E | | | | | E E % gains of over 200 per cent in the esti- cost of residential building, i ‘Total production showed little change from that of the corresponding week of 1934; shipments were 16 per cent greater and new business booked was 20 per cent heavier than during the 1934 week. ‘These comparisons are based upon telegraphic reports from regional as- sociations to the National Lumber Manufacturers’ Association and cover the operations of 893 leading hard- wood and softwood mills. In the week ended June 8 these produced 140,973,000 feet; shipped 143,435,000 feet; booked orders of 147,268,000 feet. Revised figures for the preced- ing week were: Mills, 953; production, 131,665,000 feet; shipments, 159,575,- goo feet; orders received, 186,393,000 feet. $6,950 4109 Maryland Drive 6 rooms, oll burner, G. E. Refrigerator. Drive out mew Conduit Rd., turn left first street beyond Dalecarlia Reservior, ‘oday and Sunday. Open MARLOW-BEECH CORP. 907 15th St.—MET. 1170, 6212 31st Street, N.W. Just off Utah Avenue New Colonial—Center Hall Brick 4 Bed Rooms—2 Tile Baths $12,950 <mmmmmm— $12,950 Individually built home by owner, who personelly supere vised its construction. Convenient location, attractive en- vironment. There are 7 comfortable rooms, 3 baths, showers. Knotty pine panelled recreation room with fire- place, “Model Electric Kitchen,” furred walls throughout, first floor den. Rock wool insulation. Side porch. Many special features and numerous edded conveniences, Large lot, brick garage. Open Daily Until 9 P.M. Boss & Phelps Nat. 9300 1417 KSt. N.W. Chevy Chase, D. C. Buckingham slate roof, copper flashings, asbestos tile walls in the .nhnydl)lmn Just one short square from transportation. BUILT BY BOWLING & GARDNER TO REACH Drive out Conn. Ave. to Chevy Chase Circle; turn right on Western Ave. to Temnyson St.; right om Tennyson to 31st Place. Open Today snd Dally Il § P.M. Wm. M. Throckmorton REALTOR AND EXCLUSIVE BROKER Investment Bldg. Open for Inspection DI. 6092 6906 Glendale Road . . Center-hall Colonial, built of real old fashioned hand-made brick by craftsmen from Williamsburg, Va. Six rooms, two baths and attached garage. Three splendid bed rooms. Price $11,950.00. Saturday, 10 AM.-9 P.M. |MS8M Week Days, 2 PM.-9 PM. REALDL LUMBER INDUSTRY =2 ONE WITH N, R A - | Prediction Based on Recent Objection of One Group to Extension. g ir i si= il ¥ B ; i § g 5 | vz 3] k E BEEE ] H 7E i e 08 agg And the Lot Phone Wisconsin 3271 ESTATE. B—5 would be “wild unrestrained compe- tition” for a while, which ultimately would result in some “special plece of legislation for the industry along the lines of the present plans for the coal industry.” seems Sunday 1354 Shepherd Street, N.W. Most attractive brick Colonial tn this convenient section: ofl burner, three bed rooms (running water in each), two b screened, w linoleum in tifully land: owners. Unbelievable Low Price Just come nd SEE IT. Atter | p.m. Bt , eall Adams 2763 i| fer permit to inspect. Realtors. 721 Tenth Street N.W. NAtional 0765 ESTABLISHED SINCE 1915 S TR Visit “Wnodbine” NEW SILVER STAR HOME 14 East Leland Street...Chevy Chase, Md. “4 Community of Beautiful Homes” 7 Six rooms and two lovely baths (bed room and bath on first floor), screened living porch. Modern Electric Health Kitchen. Master bedroom with adjoining large bath with built-in linen chest and dressing table and many other attractive features. Furnished and Decorated by Woodward & Lothrop Another Home Typical of "Woodbine" Opened for the First Time Today . Chevy Chase, Md. “Woodbine” is a sensibly restricted community, possessing all the advantages of Washington’s Finest Suburbs. A Mod- erate Priced Place to Live, in an Atmosphere of Refinement. To Inspect—Drive out Conn. Ave. to East Leland Street, right HEA”H HOME one-half block to Model Home. M. B. Swanson Construction Company "Woodbine” Chevy Chase, Md.