Evening Star Newspaper, July 13, 1935, Page 19

REAL ESTATE. S9000 LOANED FOR MODERNENG Total for First 12 Months of Operation Reported by F. H. A During the first 12 months of oper- ation of the modernization credit plan of the Federal Housing Administra- tion approximately $90,000,000 was advanced to borrowers by private lending institutions for improvement and repairs, and an estimated aggre- gate of $500,000,000 additional work was generated in connection with the program, according to Acting Admin- istrator Stewart McDonald. By the first anniversary of the signing of the national housing act, June 27, a Nation-wide house-to- house canvass to determine moderni- zation needs had covered 9.000,000 homes and had produced ap- proximately 2,000,000 modernization pledges by home owners. Defaults Infrequent. At the same time 13,000 banks, finance companies and other lending institutions throughout the country were co-operating with the Federal Housing Administration, with a ma- Jority advancing repair credit to bor- rowers. In each instance 20 per cent of the total credit advanced by each separate institution is insured by the Housing Administration, which makes no loans of any nature itself. Sig- nificant in this connection, according to Mr. McDonald, is the fact that de- | faults on modernization credit ad- vanced throughout the country have been so infrequent that hundreds of banks have expressed entire satisfac- tion with the modernization credit plan. The modernization credit plan as originally provided for under the na- | tional housing act made it possible for owners of one to four family dwell- ings to obtain credit from lending in- stitutions in amounts nol in excess of $2,000 for the improvement and repair | of existing property. Such credit ad- vances are repaid in regular install- ments to the lending institution. No insurance premium is required on such loans. The maximum term for such credit is five years. Credit Limits Extended. Recently the modernization credit | plan limits were extended to em- | brace commercial-residential, indus- | trial and manufacturing properties | with the amount insurable by the | Housing Administration set at a new maximum of $50,000. Through this | means a new and widespread market for modernization and repair was | ©pened. Machinery and equipment | peculiarly adapted to buildings and to the operation.of businesses con- ducted therein also are now eligible for credit. As in every other phase of Housing Administration operation, | these credit advances are made by | private lending institutions at their | own discretion, with the credit in- sured by the Housing Administration. | “The modernization credit plan,” | Mr. McDonald said recently, “is a | quick-action, home-emergency plan | designed to energize business by fa- | cilitating repairs to homes and build- | ings. Owners of almost any type of | building may borrow money for re- pairs and improvements from private financial institutions approved by the Housing Administration. “Today, after a year of operation, literally hundreds of thousands of homes have been given a new lease on life. Our living and working con- ditions have been made more attrac- tive, more efficient, and more stable &8 a result. In the coming months I anticipate even greater strides in mor’l,cmimuon throughout the coun- APARTMENT SOLD Florida Man Acquires London Hall From D. C. Owner. | ‘The Cafritz Co. has just announced | the sale of the apartment building | London Hall, located on the southeast corner of Thirteenth and M streets, to A. J. Dowling of Miami, Fla., for Willlam J. Brown of Washington, D. C. This building contains 70 units of one and two rooms, kitchen and bath. Dowling, the new owner, plans to | convert the building, after extensive alterations, into an apartment hotel. The property is assessed for approxi- mately $200,000. WANTED | EXPERIENCED NEW HOUSE SALESMEN WAVERLY TAYLOR THE EVENING STAR, WASHINGTON. Dwelling in Bethesda Purchased Mr. and Mrs. A. S. Moore have purchased this six-room and two-bath home, at 6811 Fairfax road, Bethesda, Md, from Alfred T. Newbold, builder, through the office of L. T. Gravatte. ~Star Staff Photo. Federal Architects Exhibit iy s ok e L H. C. Sullivan, president of the Association of Federal Architects, is {high.as 93 and 94 per cent. showing J. E. Miller, a director of the organization, one of the 1500 drawings which the Federal architects are showing in the National Museum. This particular drawing shows the projected United States Mint structure for San Francisco. This exhibition of the works of Government architects will be open to the public daily and Sunday until July 31, On week days the museum is open from 9 a.m. until 4:30 p.m. and Sundays from 1:30 p.m. until 4:30 p.m. —Star Staff Photo. Lacquer from Orient. The original “lacquer” was an Oriental product of Chinese and Jap- anese artists from the sap of the rhus vernicifera, known to the Japanese as Urushi-No-Ki and to the Chinese as Tsichon (varnish tree). The term is at present usually restricted in America and Europe to coatings of which the predominant ingredient is a solution of nitrocellulose. AN UNUSUAL COMBINATION OF HOUSE AND OFFICE FOR A PROFESSIONAL MAN A delightful study—conveniences—entered from the side street and overlooking a beautifully planted and fenced-in garden makes this three-bedroom, two-bath home particularly appealing to a profes. sional man, doctor or musician. Just completely redecorated by the owner, who is moving into the country. AURORA HILLS HOMES, INC. Two Miles South of Memorisl Bridse on Arlington Ridge Exclusive Agents Walnut 8895 CAPITAL BUILDING AND LOAN GROUPS HAVE AMPLE FUNDS (Continued From First Eggf) mary purpose for which they were first organized over a hundred years ago,” declared Mr. Quinter. “Unlike other organizations which finance the buying or building of homes along with other activities, building and loan associations have consistently main- taned their character as co-operative enterprises, where the savings of one group of thrifty persons are collected to be loaned out to others of small or moderate means to build or buy homes upon terms arranged to suit their earning capacity. This record holds good not only for the associa- tions in the District of Columbia, but, in a very real sense, for the associa- tions all over the United States, as the figures released every year by the national organization, the United States Building and Loan League, show that the average percentage of assets invested in home mortgages in the various States runs between 80 and 90 per cent, in some States going as “The building and loan associations of the District have every reason to feel that this record of service to the home owners here, coupled with the | fact that no investor has ever lost a penny of savings intrusted to them, entitles them to the continued con- D. C, SATURDAY, SILVER STAR HOM OPENS THIRD WEEK Many Utilitarian Features Hailed by Thousands in Exhibition. (Continued From First Page.) number of people todey. It is of- fered at a price that has been most during the current building boom in the city, yet in quality of construction and the way its arrange- ment economizes in space, it repre- sents & value far greater than is found in the average house which is being constructed today. There are many things about this house that would be pleasing to the home owner, and especially appeal- ing to the housewife. For instance members of the Star's committee thought that the kitchen was the finest seen in a small home in months. It is elaborate in its equipment, spacious and well arranged. There is an abundance of cabinet space, and enough work space to prevent crowding. It is conveniently located with respect to the dining room, and three entrances, one to the outside and two to the interior of the house. ‘The two bath rooms of the home are large and equipped with the latest plumbing fixtures. These rooms are light and airy. One is located off the master bed room, while the other is conveniently placed between the two secondary bed rooms. All of the rooms have ample closet space, while the master bed room has & large cedar closet in which could be placed everything that a family wished to keep away from moths. ‘There are two screened porches on the rear, one off the master bed room, which is large enough for either| twin beds or a double bed, and the other next to the living room on the tirst floor. A large room in the basement which has been paneled with knotty pine, and furnished with maple pieces, could be used as the owner wished either as a place to enter- tain guests or strictly for recreation purposes. It has a fireplace, and due to the way the house is set into the ground is unusually light. ‘The model home hes been furnished by Hutchison’s, Inc., and may be reached by driving a half block east on Western avenue from Chevy Chase Circle to Quesada street. It is located at the intersection of Quesada and Broad Branch road, about two blocks from Western avenue. Ivy for Bath Room. An attractive bathroom seen recent- 1y has white-painted walls and a floor of black and gray design. The bath- tub, set in an alcove, has several glass shelves on the wall at each end. The alcove is lighted indirectly from above, and luxuriant ivy vines trail down the two tiers of shelves. Pale blue- fidence and support of the public, and this we confidently expect.” gray Venetian blinds curtain the win- dows. Just Completed—A Charming Cape Cod Priced at Only *6,950 Bungalow On Convenient Terms Open for Inspection Day and Evening 4631 NORTH 14th ST. Woodlawn Village One of Nearby Virginia’s Most Attractive Home Communities 5, Spacious rooms Tiled bath Detached garage Model kitchen ® Large floored attic Screened and weather-stripped Beautiful landscaped 50: lot, Near bus, school, stores Built by Willism Donnelly Drive out today _over Highway to Glebe Road, Key Bridge and TLee left 9 blocks to property. Presented By Clarendon, Virginia DICK BASSETT Walnut 8667 JUST COMPLETED Another Outstanding Value by Adamson JULY 13, 1935. Building Trades Improvement Seen InFrederick County Spectal Dispateh to The Star. WINCHESTER, Va., July 13.— Building trades and kindred lines here are snapping out of eco- nomic stagnation. Permits for the erection of new buildings within city limits for the fifst six months of this year have increased four and one-half times over that of the same period in 1934, accord- ing to an announcement today at the office of Arthur M. Field, city manager. In addition to s general up- turn in building construction by bricklayers and carpenters, with more employment for other me- chanics, painters and paper- hangers were reported working overtime on general improvements to residential and business prop- erties. Much new building and repairs to dwellings and barns in Frederick County districts were also in progress, giving employ- ment to many rural mechanics. FEDERAL LOAN UNITS LEAD IN MORTGAGES Cook County, Ill, Associations Shown Well in Advance by F. H. L. B. Survey. Federal savings and loan associa- tions in Cook County, I, in the period March 1 to June 1 made more home mortgage loans than all other savings, building and loan associations combined, as indicated by mortgages of $10,000 or under recorded in the county, according to a recent study by the Federal Home Loan Bank of Chicago. Their total of such loans for the period was $2,036,450, or 17.3 per cent | of all home mortgages recorded in the county, exclusive of H. O. L. C. loans. | Loans of other F. H. L. B. of Chicago members totaled $1,389,900. Loans of non-member building and loan asso- ciations totaled $228,325. This, offi- cers of the National Association of | Real Estate Boards point out, is a | REAL ESTATE, measure of one interesting phase of present mortgage developments. ‘The Federal Home Loan Bank mem- bers made 29.1 per cent of Cook County’s total volume of home mort~ gages, 30 per cent of its total number of home mortgages in the period cov- ered by the above study. But their increasing proportion is shown by the fact that in May they made 32 per cent of the loans, both in volume and in number, Osaka, Japan, discharged 184 civic employes in one day recently. Reinforcement of Girders. A girder which supports joists in the home occasionally sags due to structural loads and defects in con- struction or material. The girder should be jacked up to a level and then reinforced. This may be done by spiking a two-inch plank to the side of the girder. In general, the lower edge of the plank should be on the same level as the lower edge of the girder. Greater strength can be ob- tained by spiking planks on both sides of the girder. If necessary, a bearing | post may be installed under the girder. THERE IS SOUND VALUE IN THIS GRUVER-BUILT HOME Jus Convenient to Hich Stores, 22 FEET WIDE Four Bed Rooms, | SAINT CLEMENT SHORES t off 16th St. and Rock Creek Parkway Schools, and Only 10 Minutes' to Downtown Shopping Area 150 FEET DEEP DOUBLE BRICK GARAGE Large Rooms, Modern Kitchen, Breaktast and Sleeping Porches, Hot-Water Heat A SACRIFICE AT $10,500 1432 SHEPHERD ST. N.W. Owner on Premises OPEN FOR INSPECTION SATURDAY AND SUNDAY Graded Schools, Churches, Living and Dining New Frigidail Screened THIS magic name brings up visions of beautiful water, pleasant breeze: ndy beaches, fishing and boat- ing. Dreams of health also come true. Salt water, salt air and pure artesian water flowing from a depth of 312 feet and piped through miles of mains, all assist to that end. An invalid of last year sends word that the season spent there was worth thousands of dollars to her and her family. 'HE 54 miles from the District Line follow route 5, the route taken bv the escaping Booth—takes vou through historic eountry, brings you into a different world and to the water where the first settlers came ashore. L] SAINT CLEMENT SHORES is restricted, firmly established as a residential colony with many pretty cottages. You, too, can have a cottage and all that it implies without financial strain. or vou can choose a site and have the house built later, Lots range from $50.00 to $700.00 on easy payments. A cottage can be had as low as $1,000.00. BRING lunch and spend tomorrow with us. Bath honse facilities free to those presenting this advertise- ment. Turn right at our sign 1'; miles this side of Leonardtown and follow road to property. . ASK FOR ME. SINCLAIR, SUNDAY AT THE BEACH, OR CALL BIM, CARE OF LOUIS P. SHOEMAKER 1719 K Street N. National 1166 SRR SN AR R A A A A A A SRR AR AR A A A A Just Completed — Barnaby Woods Section 1522 K Street National 1040 Outstanding Bargains Sponsored by Owner WILL SELL DIRECT AT REDUCED PRICES TO RESPONSIBLE BUYERS TWO REAL DETACHED HOMES IN TAKOMA PARK, D. C. 6605 5th St. N.W. BUNGALOW—Five large rooms and gla: open fireplace, tiled bath, hot-water cellar, laundry trays, oak floors; screened stripped. The lot is 50 by 148 to alley, and is improved by shade trees, shrubs, ornamental stone wall across front. The back yard is inclosed by ornamental iron fence. Two-car garage. = [ QUALITY DETACHED Brick Homes in West Chevy Chase | 37,250 4506 Highland Ave. (2 Completed, 2 Nearing Completion) ELECTRIC KITCHEN HEALTH HOME Pive splendidly arranged large rooms. full tiled bath; efficient electric kitchen has G. E. Refrigerator; basement club ‘room. 2 real fireplaces, copper water pipes and screens; space for more Tooms on 2nd floor, separate garage; dscaped lot fronts 60 ft. on completed street. 6432 Barnaby St., Chevy Chase, D. C. One of two fine homes in this new and exclusive section. Colonial design . . . side-hall entrance to large attractive living room with Colonial fire- place, delightful dining room with French doors leading to flagstone terrace overlooking rear yard, breakfast room, electric kitchen with built-in cabinets, 3 bedrooms, 2 baths, third floor storage room, large pine panelled recreation room in basement; gas heat, detached garage, slate roof, copper gutters and downspouts, screened and weather-stripped. Built by C. R. MATHENY Open and Lighted Daily Until 9 P.M. Easy Terms Only *11,500 Also No. 424 Whittier St. N.W. $8 500 Drive out Third St. fo erman_St., and right Z:fn-u"%mt to house, Beautifully Furnished Corner Home Only one home left in & group of three and one of the finest values we have ever offered. Southern exposure, located on & high eleva- tion in a grove of giant oaks. Contains living room, 22 feet long, with wood-burning fire- place. de luxe kitchen, and dining room on first floor, 3 real bedrooms, tiled bath, 4 cedar closets on 2nd floor. Detached garage. Entire house has furred walls. Johns-] - ville insulation, caulked, screened and weath- er-stripped. E. C. Baker Sales Dept. 1420 K St. N.W. R R A e A A e A A e SRR Drive out Conn. Avenue to Nebraska Avenue, turn right to TO Reac"': Utah Avenue, and right again on' Barnaby Street to houses. EDW. H. JONES & CO., INC. 5520 Conn. Avenue CLev. 2300 COTTAGE STYLE—Six large rooms and bath, hot-water heat, oil burner, open fireplace, large front porch, beautiful f oak floors, screened. The lot is 50 by 148 to alley. Two-car s Unill®/Evecy Evening Bl | garage; large trees and shrubs. Bear right on Wisconsin Ave. 5 I Easy Terms ‘at trafic liont in Bethesda. || ]} Strswhi ¢ Mook o2 IS THESE HOUSES HAVE BEEN NEWLY PAINTED AND blocks %o nomes. B DECORATED AND ARE LIKE NEW || Curtis Walker Wm. B. Prescott || & Open Saturday and Sunday H. L. Thornton, Owner-Builder Office, 6900 4th St., Opposite Takoma Theater Office Phone, Ge. 2291; Home, Ge. 2811 Nat. 7138