Evening Star Newspaper, July 13, 1935, Page 20

REA BULDING SUPLY USESEENGROWIG Increase in Third Quarter of 1935 Expected Due to F. H. A. Program. Cumulative effect of the Federal Housing Administration’s program and other factors favorable to building will result in a decided increase in the use of building materials and supplies through the third quarter of 1935. Among indications of this acceler- ation of the buildinggand allied indus- tries is the steady increase in the vol- ume of modernization credit insured by the Federal Housing Administra- tion 1or improvement, repair, conver- mon and equipment of properties, as well as in the volume of home mort- gages selected for appraisal, with fees paid. Modernizing Credit Increases. Modernization credit, for instance, has increased from $2,780,865 for the week ended May 4 to $3,377,527 for the week ended July 6, the total vol- ume on that date being $95.364,604. Home mortgages selected for ap- praisal, with fees paid, have jumped from $2,483,577 for the week ended May 4 to $7,193,394 for the week ended July 6, the total volume on that date being 24,138 mortgages for $96,999,336. Of this total, about 33 per cent was on new construction. Another indication is the estimate of freight carloadings for the third - quarter of 1935, compiled by the 13 Shippers’ Regional Advisory Boards, showing an estimated gain of 2.9 per cent for all carloadings over the third quarter of 1934, but with considerably | larger gains for individual items of building materials. Carloading Estimates. Carloading estimates made by the sdvisory boards for the third quarter | of 1935, with the percentage of gain | over the same period last year, are es follows: 69,873 Fungicide Aids Golf Greens. Control of brown patch, a disease which attacks golf greens and lawns, is claimed for a new fungicide which combines two organic mercury com- pounds. Air Conditioning Residential Air-Conditioning Demand Only Matter of Time. BY LAWRENCE TUCKER. Recent headlines reported the death | of 35 people in the Midwest from the | terrific heat wave which has enveloped | the country east of the Rocky Moun- | tains. Hundreds more have been prostrated by the extreme tempera- ture. ‘The maximum temperature reported was 114 in a small Kansas town. In ‘Washington it reached 95 or 96. but fortunately there were no fatalities. | It would obviously be impossible for | every one to obtain relief from this | scourge that strikes people down with- out regard for size or age. However, | the people of Washington are fortu- | nate in having facilities at their dis= | posal for protection against the danger of heat prostration. Government Realizes Value. The Government was quick to real- ize the value of providing cool, com- fortable conditions for its thousands of workers, and the majority of Gov- ernment office buildings are equipped, ! either partially or wholly, with modern | air-conditioning installations. Privately owned office buildings would no doubt be entirely equipped with cooling apparatus if they could afford the large outlay required to make the installation. Just now they are recovering from a number of lean years, but before many months have passed they will no doubt proceed with elaborate systems supplying manu- factured climate to their tenants. The worker in an air-conditione office will surely choose a cooled res- taurant in which to eat lunch or dinner and the great majority of places are already equipped. Most of the other spots that are frequented from time to time, such | as shoe stores, drug stores, bowling alleys, theaters and clothing stores, are now displaying polar bears and ice on their entrances, beckoning us to their cool interiors. Home Atmosphere Not Cool. Unfortunately, the house or apart- ment, where we necessarily spend a considerable amount of time, is the one place that does not offer a de- lightfully cool atmosphere. However, more and more enthusiasm Is being manifested in residential air conditioning, and it will be only a matter of time before we will demand » means of combating Summer heat, in the same manner that we no longer put up with discomfort from the cold in Winter. 3117 First St., N.Clarendon, Va. APARTMENT BUNGALOWS WITH FULL BASEMENTS FEATURING % Brick Construction % Large Wooded Lots % Slate Roofs—Furred Walls % Modern Kitchens % Good Transportation % Permanent Financing % No Renewal Costs or Fees *5,950 « *6,450 Out Wilson Boulevard, turn left on Irving St. (at monument in Claren- don) and left again om First St B. P. EVANS Inc. 907 15th St. NNW. NAt. 7760 | color scheme has been employed. L ESTATE. W. Berry designed the homes. THE EVENING STAR, WASHINGTON, D. C, SATURDAY, JULY 13, 1935. 5 PCT. MAXIMUM |LOAN INSURANCE r— X v Each of Homes Under Construction in Kenwood - S T bl B Two attractive Colonial-style homes that are being built in Kenwood, Md., at the intersection of Brookside drive and Chamberlain avenue, for Mr. and Mrs. James B. Morrison and Mr. and Mrs. George W. Daisley. Mr. Morrison, a drawing of whose home appears at the top, is an official of the Chesapeake & Potomac Tele- phone Co., while Mr. Daisley is a patent attorney with the firm of Cameron, Kerkham & Sutton, for the homes was sold by the firm of Walker & Prescott, Inc. and five baths and a paneled library in addition to the living room and other first-floor accommodations. Ralph Walker & Prescott, Inc., is & comparatively new firm, though both Willlam H. Prescott and Curtis Walker, who comprise the firm, are well-known real estate men. Ground the homes will contain six bed rooms One out of every 11 owner-occupied Owners’ Loan Corp. in the past two years. The total of 874.254 homes, on which the corporation had made re- finaneing loans up to June 13, 1930, is practically equal to the entire number of dwellings occupied by their owners in Greater New York City. Chi- cago, Boston, Pittsburgh, New Orleans and Los Angeles combined. ‘The H. O. L. C. loans made to June 13 total indebtedness in the United States. The largest number of individual loans in any one State, 83,710, was closed in Ohio, where the number of applications was greatest. However, the largest dollar volume was in the State of New York, where 65,887 loans age amounts of individual loans varied | widely by States, from $5,809 in the $2,638,396,313 in amount, | | equivalent to one-seventh of the en- tire estimated urban home mortgage | H.O.L.C. Mortgages1 Out of 11 Owner-Occupied Urban Homes | District of Columbia to $1,727 in | urban homes in the country has been | Idaho, depending on home values in | placed under mortgage to the Home | the various communities. Some 350, 000 applications, including 125,000 filed between May 28 and the dead | line on June 27 for receiving applica- | tions, are now going through the vari- | ous stages of investigation of distress and appraisal and title search. In saving 874,254 homes from loss | by foreclosure the corporation removed | properties, which it appraised at more | than $3,800,000,000 from forced sale in | a distress real estate market. { Concurrently with these operations, the corporation has set up a Nation- | wide system designed for the efficient collection of monthly payments of | principal and interest of the loans. Prompt foreclosure action has been | initiated against borrowers who have | | willfully neglected to pay. The vast | amounted to $339,690,.234. The aver- = majority of home-owner borrowers, however, are making regular payments | to the full extent of their ability. Blue and White Bed Room. In a trimly tailored bed room, de- signed for a man, a blue and white | A triking blue and white plaid fabric covers the bed and upholsters com- fortable club chairs. Walls and wood: work are painted white, and a dark, sapphire ceiling, besides being rest- ful, gives the room a decided mascu- line character. Green Gate for White Fence. ‘With a white fence, a green gate is both artistic and practical because the darker color does not show finger marks clearly. When the gate is painted a colorful shade, it helps iden- tity the house for those who have not visited it before. Blue gates are in favor, especially the gray-blue some- times found on the shutters of old- fashioned houses. The trim of the house often inspires the color of the CHEVY CHASE, MD. 121 E. Primrose St. TRADE OR SALE Your opportunity to trade on a practically new home in the finest section of old Chevy Chase. Charming brick 8-room Colonial with splendid features: Library and lavatory on first floor, 2 full baths, finished attic, recessed radiation, oil heat, screened-in porch, 2-car built-in garage, extra large corner lot. An attractive home at an attractive price. Open Saturday and Sunday RALPH MORGALI 923 15th St. N.W. NA. 3925 gate. HARDWOOD TRIM WEATHER STRIPS FRONT AND REAR PORCHES THIS HOUSE IS WELL WORTH YOUR INSPECTION OPEN DAILY FROM 10 AM. TO 9 P.M. WE WILL ARRANGE TERMS 1512K st. NWw. HARRY WARDMAN, Inc. b1 3830 A REAL BARGAIN 56’7 59.00 1105 CLIFTON ST. N.W. RECONDITIONED 6 EXCEPTIONALLY LARGE ROOMS + AWNINGS, SCREENS HOUSE 22 FT. WIDE 2-CAR GARAGE INSURED LOANS ACTIVE Applications Under F. H. A. Plan Show Rapid Development. HELENA, Mont., July 13.—Rapid development of anplications under the | mutual mortgage insurance pian of | better housing headquarters here. One hundred applications for in- 21. “It required ap- proximately 130 days to reach the one-hundredth application. During the 10 days in January and through- out February and March,” said the State director, “this office received but four applications for insured mortgage loans. We received 37 in April and 59 in May. This increase is quite encouraging, and we are set for 100 applications during June.” maids’ room, oil burner. Garage. Recreation Room @ 2-Car Brick Garage Two Baths Oil Heat 3 Bedrooms and Sewing Room Elec. Kitchen Large Rear Yard o Slate Roof 1519 K St. N.W. | the Federal Housing Administration | | is shown in the records of the State | sured Mortgages have been received | | since January RATE IS IN EFFECT Interest Charges Cut on In- sured Housing Mort- gages. . Establishment of the maximum in- terest rate allowed on all classes insured mortgages at & maximum of 5 per cent per annum as & means of standardizing mortgage rate procedure is now in effect, according to an an- nouncement by Acting Federal Hous- ing Administrator Stewart McDonald. Emphasizing that this is the max- imum allowable, McDonald said lower interest rates on insured mortgages may be charged by lending institu- tions st their own discretion. This change has the effect of standardiz- ing interest rate procedure in every insuring office in each of the 48 States, the District of Columbia, Hawall and Alaska., Reduction of insurance pre- miums has been made on all classes of insured mortgages to a flat one-half of 1 per cent per annum. Volume Is Credited. “In view of the fact that the vol- ume of business under the mutual mortgage insurance plan of the Fed- eral Housing Administration is in- creasing so much more rapidly than was anticipated,” McDonald sald, “it has been considered sound to reduce the rate of the insurance premium in order to reduce the cost of insured mortgages to home owners.” Prior to the reduction the Federal Housing Administration had permit- ted approved lending institutions to charge up to 5!2 per cent interest on refinanced mortgages. The maximum interest rate on all classes of insured mortgages for new building remains at 5 per cent as originally provided by the national housing act. More Business Seen. “We anticipate,” McDonald sald, “that one of the important effects of the revised regulations regarding mort= gage interest rate will be an added ac- celeration in the volume of mortgage | business. With the vast amount of | existing mortgage paper subject to re- funding the reduction should result in | a material increase in activity along this line. e Colors for Closets. In the newer linen closets, & plece of molding is nailed along the edges of the shelves and painted a color that contrasts with them. Blue shelves with an orange molding make an attractive setting for the white linen. Vermjlion with white is an effective combination. If the inside of the door is painted a gay, har- monizing color, it enhances the agree- able effect of the linen closet when the door is opened. Marvelous Value Corner Brick 8 Rms. 4301 2 Baths 17th St. N.W. Center-Hall Planned 5 Bedrooms—2-Car Garage 138 ft. Frontage ‘West of 16th B8t. delightful neighborhood: west and southern exposures: surrounded by beautiful hedge, flowers and shade. Has hot- Water heat, oll-burner; electric re frigeration; maid’s auarters and bath; hardwood floors: screens: weather strips and awnings. r garage on paved alley. Closing Estate. Submit Offer. t Be Sold. A Buyer's Best Opportunity. Open Sunday 2 to 6 L. T. GRAVATTE n 1008 Douglas Street N.E. $8,350—Easy Terms i Wm. H. Saunders Co., Inc. 729 15th Realtor Natl. 0353 —roo ouse‘ 5 bed mo d ompleu bath, fireplace, lavatory on first floor, copper screened porches, full basement, laundry and Recently completely reconditioned. Open Saturday and Sunday RICHARD D. DANIELS Southern Bldg.—Na. 4972 or EM. 5039 A Real Value 16th St. Heights New Homes at a New Low Price $12,950 Exhibit Home at 1504 Underwood St. N.W. Open Daily and Sunday 10 to 9 P.M. e 16t St B aata00d Sirect and turn right 50 yards to homes. DIst. 1015 PROGRESS MADE 1,043 Institutions Apply for Shareholder Security Under 1934 Act. Steady progress in giving insurance of | protection to the majority of the 9,000,000 shareholders in American institutions of the savings and build- ing and loan type is reported by the Federal Home Loan Bank Board, trustees of the Federal Savings & Loan Insurance Corp., established by Congress in 1934 for the purpose of insuring such accounts against loss up to $5,000. UR to June 15 institutions to the number of 1,043 had applied for in- surance. The applicant institutions represent $684,000,000 in resources and approximately 1,100,000 share- holders, located in every State in the Union. Today, less than eight months after the first association had been approved for insurance, 805 of these institutions, with assets of $351,000,- 000, have beeh granted insurance, fol- lowing examination as to their sound- ness and operating methods by the board. The total number of share- holders thus already protected 1is more than 550,000, No individual shareholder can have his own account insured in an asso- cation which has not been insured by the Federal Savings & Loan In- surance Corp. In an insured associ- ation every shareholder is auto- matically protected. Such insurance of savings is wholly distinct from in- surance of individual mortgages under the national housing act. | | Heightened interest in insurance of | shares is shown by letters of inquiry | received from investors holding sac- | counts in uninsured institutions as | well as by an increase in the num- | ber of requests for application blanks Near Holy Name School and Gallaudet College 1119 Oates Street N.E. . 85’95 Terms OPEN TODAY AND SUNDAY Modern row brick home; 6 rooms, tile bath, open front porch and 2 screened rear porches. H.-W. H. Deep lot to paved alley. Priced about $2,000 less than original cost a few years ago. J. DALLAS GRADY DL 9179 1104 Vermont Ave. THROCKMORTON’S SPECIALS They are all Jameson-built, and you know that means the very best in construction. Take a look at these, you will find them the finest values on to- day’s market. 526 Central Ave. N.E. 6 rooms, 2 porches. $6,500—$650 CASH 1619 “D” St. N.E. 8 rooms, bullt-in garage. $7,250—$725 riimen 938 Quincy St. N.W. 7 rooms, screen porch. 445 Jefferson St. N.W. 8 rooms. big vard. $8,250—$825 "°Ii: ea 1844 Mass. Ave. S.E. Corner property, 8 rooms. $8,450—$845 Cash We invite you to inspect these homes, or give us a call, we will show you. Wm. M. Throckmorton Realtor, 201 Inv. Bldg. Dist. 6092 Features of NEW HOMES 1. Six large rooms, baths; toilet in basement. 2. Hot-water heat. 3. Recreation room finished in knotty pine and asphalt tile. 4. Roof insulated with Johns- Manville rock wool, 4 inches thick. 8. Detached garage for each house. 6. Copper screens, weatherstripped and , caulked. GOVERNMENT LOANS The National Housin 1625 K St. N.W. two tiled recreation room and REAL ESTATE. from State-chartered associations. Amendments to the home loan bank act have drastically reduced the premium cost to the institutions, making insurance more attractive. ‘The premium rate is % of 1 per cent of the association’s shareholder and creditor liability, just one-half of the rate established in 1934. Likewise, the maximum annual assessment is reduced from % of 1 per cent to % of 1 per cent of the institution’s ag- gregate share and creditor liability. Several other amendments to the act, by liberalizing the conditions, also encourage State-chartered assocl- ations to apply for insurance of their accounts. Insurance of shares benefits both the investors, who are chiefly wage- earners and other people of small in- comes, and the institutions them- selves. The latter, with the added safety of accounts furnished by in- surance, are better able to attract savings and to resume their activity in lending funds on liberal terms for home purchase, refinancing, new con= struction and modernization. WHEAT FOR EXPORT Maryland Extension Cites Production. With an indicated wheat crop in 1935 of 671,000,000 bushels, based on the June crop report, Agricultural Ad- Jjustment Administration officials fore- see an adequate amount of wheat for available export, Dr. Thomas B. Sy- mons, Maryland State director of ex- tension, says. Last year the wheat crop was 496,- 000,000 bushels, the lowest in 41 years, and in 1933 it was 529,000,000 bushels. The carry-over on July 1 this year is expected to be between 150,000,000 Director and 170,000,000 bushels, First Showing English- And Priced at Only e Bungalow On Convenient Open for Inspection Day and Fuening 3129 NORTH 5th STREET CLARENDON One of Nearby Virginia's Attractive Home Communities ® 5 Spacious rooms iled bath Detached garage odel kitchen arge floored attle To Inspect—Drive out Wilson Boulerard to left ‘at Monument on North Irving St. 5 squares to T. J. BRUMBAC Builder Developer slation stripped with rear stores don_business section, turm or V. taren WAlnut 8921 WONDERFUL VALUE! ! | 4820 NORTH LAN “An Electric Kitchen Health Home” Edgemoor, Md. You can not equal this value in a six-room all brick house either in location or price. We Challenge Your Comparison OPEN SUNDAY 10 TO 9 WEEKDAYS 2 TO 8 *7,950 TO REACH: Drive out Connecticut Avenue to Bradley Lane, turn west to Wiscon- sin_ Avenue, morth to Montgomery e (first street south of East- t Highway), west one block to and North Lane and home. Realty Associates, Inc. 1506 K St. N. W. NAtional 1438 INTOWN CONVENIENCE IN THESE NATURE-COOLED Lots 137 Ft. Deep to a Paved Alley ; and schools in *9,450 §3801-3819 CALVERT STREET Just off Wisconsin Avenue—10 minutes from White House. Fach home especially designed for eonvenience and roominess —contain every modern building innovation, Shopping eenter immediate neighborhood. Elevation eom- mands view of Alexandria and Potomac River. SEE FURNISHED EXHIBIT HOME Open daily and Sunday. Furnished com- plete by Palais Royal. these homes and h g Admini agreed to insure maximum loan ration has appraised on each permissible under the law. CALVERT REALTY CO. J. A. McKeever Co., Agents DIstrict 9706