Evening Star Newspaper, June 29, 1935, Page 21

REA EVENING STAR., WASHINGTO (.. SATURDAY, JUNE 29, 1935. s LOESTATE. REAL ESTATE, B8~ 167 MLLION LENT TO HOME DWNERS Building and Loan Units Called Upon Heavily Dur- ing Spring Months. Home owners borrowed around | £187.000.000 from the savings, build- | ing and loan associations during the | three Spring months of this year, utilizing this source of credit in greater degree than in any like period since 1931. | These data come from the United | Btates Building and Loan League, na tional organization of these com munity thrift and home financing in- | stitutions. H. T. Donaldson, Lansing, | Mich., vice president of the league, said that the advances by associa- tions this Spring have been 86 per cent higher than last year, twice the volume in the Spring of 1933 and at least 40 per cent greater than in 1932. | “During the past week we saw the end of the 30-day period for new ap- | plications allowed by the Home Owners' Loan Corp., and from now | on yet greater importance will attach to the ability of the savings, building and loan associations to supply money for refinancing, as well as for buying, remodeling and building homes,” said Donaldson F. H. A. Insured Mortgages. Further evidence of the increasing disposition of the public to borrow from non-governmental lending agen- cies is seen in the $25,100.000 of com- mitments on F. H. A. insured home mortgages made by various institu- tions eligible for the Title II insur- ance between December and May 25, the league official recalls. While many of the savings, building and ioan as sociations are planning to insure some of their new loans under Title II, nearly all of their March, April and May commitments of $187,000,000 have been made without the insur- ance premium charge of '; to 1 per cent per year of the original amount borrowed which such a loan places on the borrower. | “Without doubt the greatest block of new mortgage credit for small homes this Spring is that advanced by the building and loan associations.” he continued. “Many of them have developed variations of their former lending plans, keeping always the essential features of monthly amorti- ration of the debt and the long term for the loan. The result has been the increasing popularity of such credit s the Spring moved along. A breax- down of the figures by months shows that the disbursals to home owners from this source rose from $47.000,000 in March to $68.000.000 in May, the last month for which data are avail- able. Better Prospects. “Prospects of even greater volume of new loans during the months ahead are on our horizon. Every week sees more and more of our 10.000 associations in a position to make new loans. The growing in- terest in the real estate market is de- veloping a demand for a type of credit which has been negligible in our transactions for some years, viz, the Joan for the purchase of a home. The combination of more available mort- gage money and more effective de- mand for it is practically certain to sustain our volume of loans for some months. “One of the most significant signs of recovery may be found in the re- turning disposition of the public to use in their home mortgage transac- tions institutions capitalized by sa ings and investments. This seems to be the first field in which a more normal borrowing situation is ap- pearing, but the performance here will most probably have its effect in encouraging other types of credit You Have to Realize Floor Plans | JINTINT=+ a.mm 14°p 14 10" Living QMM Pirst and second floor lavouts of the Third Silver Star Home, which Pro Qoom (VAP RUAR sbove. The home was bullt by Paul T. Stone, Inc, and presented by J. | Wesley Buchanan, Inc. LOANS T0 IMPROVE FARMS INCREASE 1,326 Modernizing Applica- tions, Involving $532,418, Approved in May. Marked increase in the number and amount of farm modernfzation loans granted by financial institutions over the country were reported for the month of May as compared with an average of all previous months in 1935, according to the Federal Hous- ing Administration. A total of 1326 farm modernization loans were made in May, totaling $532,418.55. From January through April there were a total of 4,620 loans made, totaling $1,918,497.04. This sign of increased moderniza- tion activity in rural sections is re- ported concurrently with notice that | farm purchasing power is on the up- grade as compared with two years ago. A reliable source poirts out, for example, that the monetary return | today on 119 bushels of corn will pur- | chase a hot-water heating equipment, | while in 1933, 422 bushels would have been required to finance such a pur- chase. Similarly, today 327 pounds of butterfat will purchase a 750-pound | cream separator as compared with 653 pounds of butterfat in 1933. Simi- A QUICK SALE N o0 1%'0"% will result from this low price | tional | Ai -Conditioning | | Carleton Hotel Equips En- tire Floor for Air Condition- ing—Response Is Favorable. BY LAWRENCE TUCKER. Summer visitors 1n Washington who have had to suffer thrcugh hot, sleep- less nights in stuffy hotel rooms may now enjoy an atmosphere comparable to the pleasant :ea skore resort. The Carlton Hotel installed an elab- orate air-conditioning srstem for the entire eighth fluor, and the 37 rooms which formerly were the least at-| tractive and 2ad to be closed auring the Summer montns are now the most popular suites ia the building Guests desiring an air-conditioned room have to pa7 only & small addi- charge for this convenience, and considering the comfort it is ob- viously well wor:h th= slight =xpense In fact, so many people feel that way | about it there is ucuaily a waiung list users to tap the idle resources of pri- vate lending institutions and so once more effect a flow of credit through all the arteries of trade, sufficient to finance a business upturn of year: $6.950 4109 Maryland Drive 6 rooms. oil burner, G. E. Refrigerator. Drive out mew Conduit Rd.. turn leit Arst street bevond Dalecarlia Reservorr. pen Today and Sunday. MARLOW-BEECH CORP. 907 15th StL.—MET. 1170, to Inspect the Charm | the very hot spells. opens tomorrow at 3359 Quesada street, Chevy Chase, D. C. are shown | of 20 or 30 guess apxious to obtain these rooms. Sufferers from hay fever have found | that they can omain relief from their | malady in &n atmosphere of condi- requests for accommodations from people seeking relief from this un- comfortable illness. There is also a demand for the| eighth-floor rooms from lawyers and | other people who are forced to work inside for long period- of time during They practically move their whole offices up there and can work in comfort and quiet re- gardless of the antics of the ther- mometer outside. | A unique feature of the installation | is the individual control which is pos- sible in each room. A small handle is located near the coor whien con- trols a damper in the duct supplying the cooled air. Tf a patron desires maximum cooling ir.e handle is nushed all the way in. If less cooling s de- sired the handle is pubed out, riosing off the damper gradually until it is | finally shut off entirely. The windows may be opened if more fresh air is desired. although a large quantity of pure air is brought directly to the conditioner, where it is filiered, de- humidified and cooled before being forced out through the supply ducts into the individual rooms. Due to the fact the building had no tioned air, and the management Al| p,uision for the installation of equip- | the Carlton nas received NUMETOUS | yoni of this sort it WAS.necessary for elaborate changes to be made to‘ accommodate the ducts and ma- chinery. The refrigeration machines and conditioners are located in a sound- proofed room adjacent to the ele-| vator shafts. The walls are padded with & sound-absorbent material, which makes the installation almost noiseless, and even people sleeping in nearby rooms are unaware of the operation of the equipment which is supplying them with comfort. The Carlton is one of the first hotels in this part of the country to install an air-conditioning plant of | such size and consequence, and we | will no doubt find many of our better hostelries following suit in the very near future. l Huge Park for Malaya. Malaya is to have a national park covering 2.000 square miles. Just Completed—Another Charming English-Type Bungalow Priced at Only $6,500 On Convenient Terms Other Homes From $5,250 to $7,500 Open for Inspection Day and Fuening 1506 ABBINGDON ST. Woodlawn Village —of these twa new beautiful English type brick homes, withs their delightful architectural design and 6 splen- didly proportioned rooms. Insulated with rock wool and perfectly equipped with everything a modern home should have. 2901-05 Rittenhouse . St. $11,700 and $12,700 To Reach: Owl Conmecti- cut Avenue to Chary Chase Circle. turn right om Rittenhouse St. to 2005. Open Daily and J. Wesley Buchanan, Inc. 916 15th St. Realtors Met. 1143 Unusual Value 1313 Taylor St. Northeast All Brick—Semi-Detached Three Bed Rooms—Two Baths Recreation Room—Oil Burner—Double Garage Insulated—Screened—Electric Refrigerator C. M. WALLINGSFORD 1010 Vermont Ave. N.W. Nat'l 2990 One of Nearby Virginta's Most Attractive Home Communities Drive ont mow and see this ever-popular English-type home with five cheerful, spacious rooms and bath, having all the usual appoint- ‘ments included in Brumback-built homes—beautifully wooded lot, 50x150, two bus lines to downtown. Kev Bridee and Lee . left 8 blocks te property. WAlnut 8921 Builder Developer AN UTSTANDING VALUE IN A NEW DETACHED HOME s 605 HIGHLAND DRIVE WOODSIDE PARK, MD. $11,950 For 8-Room Brick and Stone English Home Slate Roof, Copper Gutters and Flashings, Furred Walls and Rock Wool Insulation FOUR LARGE BEDROOMS and TWO BATHS s “n—- HEALTH HOME Located in an established restricted community on 75x150 beautifully landscaped site, convenient to schools, churches, bus and new public park. Built-in Garage Recreation Room To reach property drive out 16th St. or Georgia Ave. to trafic light at Colesville Rd., out Colesville Rd. to Highland Drive on left. Woodside Construction Co. Silver Spring, Md. Phone Silver Spring 109 Metal Flashing Helpful. Corrosive-resistant metal fiashing installed above the hesds of door and window frames prctects them from deteriorating by preventing the leak- age of water batween the frame and the inside of tha Louse It also pre- vents the soiling and loosening o1 plaster which mey result if these points are not nceouately protected. of 56,700. b New heating plant: House weather-stripped: Fine, large A sound investment. 1328 K St. S.E. REDUCED TO $8.250 35> Williams Lane Chevy Chase, Md. Delightful suburban home, mew-house condition, three large bedrooms, bath, living room with open fireplace, gl enclosed sun room, dining room, kitchen, large front porch, garage, automatic heat. OPEN TODAY To reach: Out Conn Near stores and transportation. AND SUNDAY Ave. five blocks beyond Bradley Lane, right to property. EDW. H. JONES & CO., Inc. 20 Conn. Ave. CL. 2300 NEW Stone Studio Home by Home Construction Companv, purchased by Capt. George 1. Back, thru Toledo Guaranty Corporation, | | Iar comparisons are shown farm products. Officials of the Federali Housing Administration anticipate additional | increases in farm modernization proj- ects during the late Spring and dur- ing the Summer, With increased pur- chasing power and lulls between planting in various localities, reports indicated that modernization projects ‘were being planned in virtually every agricultural State, Modernization credit advanced to farmers is not necessarily repaid in monthly installments, as is the case with urban modernization credits. Arrangements may be made with lending institutions to make pay- ments concurrent with completion and sale of crops. New barns, addition and repairs to farm homes, paint projects, roofing, heating, electric and water systems, wells, pumps, septic tanks, wall, floor, and other interior repairs, brick, silos, fencing, are only a part of the nu- merous modernization projcets for which lending institutions make credit available under the insured plan of the Federal Housing Adminis- tration. in other I b In Petworth Attractive Home 731 Rock Creek Ch. Rd. N.W. ¢ Also Fine Investment Detached house of 11 large rooms on lot 35x150 feet. Con- tains 2 apartments, rented in- come, $80 mo., with five rooms for owner’s use. Oil burner, automatic hot-water heater— hardwood floors, porches, full- length screens and two-car ga- rage. House newly painted and papered. Financed on 15-Year Plan $11,850—Terms House Will Pay for Itself NANSENNNY S S N N I O R R R A A A A A ? CORCUSNNRNNSS SRR AR RS A S A SN N Can be seen at any time Call Adams 3431 A R AR N R S RS £ Charming Cape Cod Colonial 1007 Flower Avenue, Takoma Park, Maryland $7,350! —DRIVE OUT SUNDAY LaborSaving Slate Roof Kitchen Furred Walls Factory-Bnilt Metal Weather Cahinets sripped Cansale Type Gas Ra Sereened as Range throughoeut 0ak Floors Full Tiled Bath with Shower Frigidaire Buili-in Garage Conerete Porch Space for Reere. Living ation Room 2215foot Room REALTY M O S COMPANY Tower Bldg. 14th and K Sts. NW. Metropolitan 1336 OF DISTINCTION 1 LIWOoop on the MEMORIAL Lot 55x130 Feet LEE BOULEVARD HIS Beautiful Suburban city, with its interesting, well-planned and well-con- structed homes at remarkable values, is rapidly gaining recognition as the Ideal Home Community of the Metropolitan area. This fact is evidenced by the numerous purchases made by discriminating home buyers even prior to Brick Colonial by Company. purchased by R Toledo Guaranty Corporati Homz= Construction the opening of completed homes to the public. } an Cleave, thru Pictured at the left are five of the homes pur- chased by keen buyers who recognize these un- paralleled facts: ® An Ideal Home Community @ Accessible as Well as Beautiful ® Good Architecture @® Permanent Construction Normandie Cottage by Joseph L. Kefauver, purchased by J. R. Eakin, thru Eakin Properties Corporation. @ Sound Investment Values @ All City Improvements The security of living in a well-planned and properly restricted suburb is found in its highest degree in Hillwood. Here you will find the type and price of home to suit your particular needs. Come on out and look them over. To Reach Hillwood: 4!'"r crovins Memorial Bridge, Stone Early American home by Kent C. Monroe mpany, purchased by A. R. Thompson. turn right on Arlington Ridge Road to 16th Street North, follow around bearing left 1o Fort Mver Drive, continue on Myer, passing the riding academv, left at North Court House Road, turn right to Pershing Drive, throngh Fort turning Continue about seven squares, turning left on North Irving Street into Lee Boulevard, then right on to Hillwood. (Note: The abore is the shortest route until the mew Lee Boulevard is completed rom- mecting the present section with the bridge.) EAKIN PROPERTIES CORPORATION Ouwners and Developers Stone Cape Cod Home by Monroe Phones—City, Me. 3446. Virginia—Falls Church 573 Company, purchased by Charles R. Funk.