Evening Star Newspaper, July 20, 1935, Page 21

REA HOME LOANBAN NEAR3YEARSOLD Third Anniversary Monday Marks New Milestone in Loan Changes. Day after tomorrow, the third anni- versary of the President’s signing of the Federal Home Loan Bank act, marks another milestone in a steady movement which is changing the face of the building and loan industry in this country, according to I. Fried- lander, president of the United States Building and Loan League. The movement to which he refers s the mobilization of the building and loan units, the trend away from their community isolation in the credit structure and toward their autonomy as a group of institutions alongside the banks and the insurance com- | panies and the other organized finan- cial units. This development must | definitely be taken into consideration in all future prospectuses regarding real estate financing, he said. Factors in Development. Mr. Friedlander names the Fed- eral Home Loan Bank System and the more recent Federal Savings and Loan Insurance Corp. as the two factors which are making possible this devel- opment in a business which three years ago had thousands of scattered units from cross road villages to metropolitan centers and no way to| shift resources from one section to another, no way to strengthen each other’s position. He pointed out that the two steps which are rapidly mak- ing the building and loan business a co-ordinated structure both arose out of the leadership of the business itself | and were not thrust upon it by any | Government pressure. | “What the Federal Home Loan Bank | System actually did was to give the | building and loan associations their own banking system, created to grant credit along lines which would be most suitable to the operations and habits of the associations providing 10-year advances when such long- | C ESTATE. THE EVENING STAR, WASHINGTON, D. C, Theater to Be Enlarged and Modernized Work has been started on the renovation and enlargement of the Circle Theater, located cn Pennsylvania An architect’s rendering of the theater when finished is shown above. believed the work will be sufficiently near completion to permit opening of the show house by late September. This year marks the silver anniversary of this independently owned theater, which was first opened March 12, The theater will be air conditioned throughout, a new heating plant will be installed, along with new The seating capacity will be increased to about 700. Willlam P. Herbst is president of the avenue near Twenty-first street. 1910. upholstered chairs. theater company, C. C. Mussina vice president and secretary and Fred W. Boone treasurer. architect for the remodeling. UST now making a brilliant dis- play in many a local garden, the perennial phlox commends itself most highly, not only be- J term credit was needed to increase | cause of its beautiful colors, but also their mortgage lending resources and | because of the sturdiness of the seasonal credit for those occasions plants. The compact trusses of bloom which used to force the associations | are carried on strong stalks that ask to borrow from commercial banks,” he | no staking or other support. The said. “At the end of 1931 the asso- | Color predominant in these Summer ciations were indebted to the com- | phlox is pink in various shades, mercial banks for some $300,000,000, | sometimes self-colored and sometimes and to this extent we were mixing | with eyes of a different color. There long-term credit with the short-time has been a rapid increase in desi:- money market to our own later regret. | able varieties in recent years, one of With the existence of our Home Loan | the very latest being Columbia, sal- Bank System this can be confidently mon pink with blue eyes. ‘There is expected never to happen again.” | an excellent discussion of phlox va- It has proved a popular banking | rieties in the current number of Bet- system with the building and loan | ter Homes and Gardens. It would be associations, consider:ng the uncer- | well worth while for every phlox tainties of the times, fie league presi- | grower to obtain some of the new ac- dent indicates. - As of June 29 a total | cessions, for they are reasonably of $151,237,000 had been advanced | priced gnd one plant may soon be by the 12 banks during the two and a propagated by division into several. half years of their actual operation. | Phlox has a tendency to seed freely Of this amount $73,000.000 had been | unless one takes care to cut off the paid back, both as amortizing install- | flower heads after bloom. There is ments on the longer-term loans and | a tendency for seedlings to drop as repayments of the shorter-term | back to the less beautiful magente loans. Interest ranging from 3!, to | or white types and some gardeners 5 per cent was paid on that money | have presumed that fine varieties re- by the associations and as stockhold- | vert to inferior types. It is much ers in the banks they have been re- | more likely that the inferior but ceiving & 2 per cent dividend, the more vigorous seedlings have simply same return as paid to the Govern- | crowded their parents out of the pic- ment for its stock in the bank system. The volume of advances in May and June was heaviest for uny two months 1n its history. 3,300 Associations Members. There are approximately 3,300 asso- | ciations members of the system today | and they represent more than half of | the total building and loan assets of | the country. Mr. Friedlander recalled that the| #ct has been frequently amended dur- ing the past three years as experience with its provisions developed. Col- | Jateral requirements nave been liber- | slized and the minimym amount of | stock which a memboer association rust subscribe for has been reduced. More recently a Federal Savings and Loan Advisory Council has been au- | thorized by Federal statute, to give the | ractical managers of tnese thrift and | Kome financing institutions an oppor- | tunity to make recommendations re- garding the operations of the system. Altogether there has been steady | progress both by statute and by the | performance of member associations toward giving the system the kind of utility its sponsors sought for it, he said. “The significance of this changing womplexion of our building and loan units to the home owners and to the yeal estate market is far greater than any one outside our cwn industry yealized three years ago,” he contin- ued. “There is still the major factor of having the local institution making the local loans and thus safeguard the funds it uses by the superior knowi- edge of the community which its own ecitizens are bound 0 have. But there is no more need for the asso- ciation to refuse loans when its idle yesources are exhausted and there is mo further necessity for it to seek an outlet for its surplus cash by making less desirable loans. In the former case of need it may get an advance from the regional bank and in the latter case it may place its funds on deposit with the Home Loan Bank and help swell the funds which other associations can use. That facility of moving funds from one section to an- other will bear tremendous fruits in the months ahead which appear from here to be destined for & recovery- destined real estate market dimension.” Painted Porches Give Comfort. Painted porch accessories contribute much pleasure and comfort to the Summer season. Tables, painted in ool colors—on which an iced drink may be set with impunity—and placed elose to a comfortable chaise longue ©or chair, solve the problem of enter- taining & guest on a warm day. Paint and the porch are synonymous to Summer comfort. 3246 Quesada St. N.W. DETACHED BRICK * ‘This is one of several very att: we are offering for sale in this popular section. It has six large, ture. Phlox is a fine garden plant—that is, it is easy to transplant and re- sponds nicely to good culture and fer- tilizing without being particularly sensitive to soil type, such, for ex-/ ample, as is the larkspur. In a dry| year tiny mites, known to florists as red spiders, take a toll of the phlox. | These may be syringed from the foli- { age with a spray of water or con- trolled with some of the new com- | mercial white oil sprays. Mildew, which leaves a white ashy deposit on the leaf, just as is seen in the lilac, may be checked by dusting with finely divided sulphur, such as may be secured from the garden supply store under the name of dusting sul- phur. Colloidal sulphur, purchased in paste form, may be diluted into & very effective spray, following direc- tions on the bottle. Hydrangea Cologstion. THE brightly color hydrangeas that are just completing their season of bloom offer a peculiar prob- lem to gardeners in that their color may be greatly changed by the acid reaction of the soil. Pink varieties become blue in the presence of high acidity and a variegation of pink and blue in moderate acidity. Converse- ly, if one wishes to maintain the pink color, he should apply lime to the surrounding soil. Florists, who force a large number of these hydrangeas for the Easter trade, were sorely troubled with changing color. Where- as there might be a ready sale for pink flowers, there was little demand for the blues and variegated blues. The New Jersey exneriment station was first to recognize the soil acidity factor, and on the basis of extended experiments made recommendations to the growers that enabled them to overcome the difficulty to a consid- erable extent. If the gardener pre- fers blue color, he may obtain it by treating the plants with aluminum sulphate solution applied to the sur- University Park, Md. New brick homes, honestly built, within 3% mile of University of Md. To inspect, drive out Wash.-Balto. Boulevard to Rushe Road, turn left two blocks. Open Saturday and Sunday Price, $6,950 Phone Greenwood 1679 Hyattsville, Md. CHEVY CHASE, D. C. ractive and outstanding homes that well-planned rooms, built-in bath equipment. extra lavatory to big bed room, s fireplace, nice wide living porch; includes new Frigidaire, is in brand-new house condition, on a big lot with pretty shrubbery and 2 ge. Drive out today or tomorrow, )] see_this one and let us give you all the information on several others in Chevy Chase, nnualfmn a pretty five-room bungalow at $5,950 to a big center-entrance Colonial home at $8,950. From Chevy Chase Circle Turn East on Quesada St. Four squares to House. OPEN TODAY AND TOMORROW % RMHOOKER " rounding soil. Varieties naturally me~ dium pink produce a deeper blue upon treatment than do dark pink varieties. Where plants are growing near a ce- | ment or brick well, it is more diffi- cult to bring about blue coloration | because some of the ioots will con- tact calcium compounds. The old-fashioned Lydrangea, pani- | culata grandifiora, and the white va- | riety, arborescens, now in bloom, are | not influenced by soil treatments. Cultivated Blueberry. N THE last week or two, one may have observed the fine large blue- berries for sale in the markets in cel- lophane-covered packages. These un- usual fruits are the proauct of culti- vated blueberry plants grown in gar- den form. There ar2 thousands of acres of wild blueberries harvested each year, but it is cnly in the last few years that the blueberry has be- come a truly horticultural acquisi- tion. The Department of Agricuiture took a notable part in this forward movement by aiding in isolating the best varieties and in learning how to prune and fertilize the plants. Now there is a sizable list of named va- rieties of high-bush blueberries, such as Cabot, Rancocas, Rubel. Katharine and Pioneer. Planted in rows pruned carefully and fertilized, such varieties yield the large berries seen in the market. As to the possibilities of cultivation in the home garden, some gardeners have succeeded very well with these new blueberries. The blueberry grows best in an acid-reacting soil and many home gardens have been limed or fer- tilized with neutralizing materials, uch as nitrate of soda or calcium phosphate, and are, without special treatment, no longer suitable environ- ments for blueberries. In such a loca- tion, the leaves are inclined to turn yellowish green and growth is almost nothing. Almost any native, untreat- ed soil in this vicinity should be acid enough for blueberries, ard if brought into good physical condition with leaf mold, peat moss and sand should grow excellent blueberries. For a thorough | discussion of culture, pruning and varieties, see New Jersey agricultural experiment station circular 229, “Blue- berry Culture,” by C. S. Beckwith and 8. Coville, published in 1931. Feeding Shade Trees. ALTHOUGH many home gardeners fertilize their fruit trees regularly few give thought to the maples, oaks or other shade trees in the lawn or parking. Yet these trees need atten- tion in many instances. Growing in grass sod, little of the fertilized broad- Situated on beautiful lot, 50x180 feet, less than two blocks from Georgia Ave. and every convenience. room; extra paneled room off equipment; attached garage. 813 Bonifant Street \ Silver Spring Md. ONE SOLD LAST WE! SHANNON & LUCHS 1505 H St. N.W. LOOK FOR THAT 1 It is L. R. Way is !cuc in Spring ever reaches the tree roots. Hence there has been devel- oped a new technique of tree feeding in which the material is placed in deep holes made in a circular ring about the tree’s base. Such treat- ment does not burn the grass and places the putrients where available to the tree’s roots. In general, nitro- gen materials such as sulphate of ammonia and nitrate of soda will alone show results. The amount per tree must be varied with its size and age. For example an old established tree may well receive four or five pounds of either chemical per year, whereas a young tree set this past | Spring needs only a quarter of a& pound und this divided into two or | three different applications. As the roots develop and spread the hazard of fertilizer injury lessens until it be- comes almost none in large trees. The Vegetable Garden. HOME gardens are now yielding & wide variety of vegetables, in. cluding tomatoes, Summer squash, beans, beets, carrots and Swiss chard. Rainfall has been abundant and, as & result, vegetables are of fine quality. Most vegetables contain as much as 90 per cent of water and to a large measure their edibility is directly as- sociated with high water content. Mexican bean beetles have been very troublesome in some gardens and offer | a real problem because of the hazard of poisonous residues from sprays. That is, if sufficient magnesium arse- | nate, for example, is applied to con- trol the beetles, there is danger of too much residual arsenate on the edible beans. This can be washed off in diluted hydrochloric acid, one part acid to 100 parts of water, but few home gardeners have the equipment or desire to go to this trouble. Of course, the lima and other shell beans | are protected in the pods and offer no particular poison danger. Pyrethrum il sprays will control Mexican beetles Just Completed 1724 Minnesota Ave. S.E. 6 lovely rooms. Chestnut trim. tile bath, oak floors, latest kitchen with Monel cabinets and built-in sink. Electrol _refrigerator. Detroit _Jewel range, inlaid linoleum floor covering. Recreation room, modern gas furnace built-in garage, concrete front and rear porches. tile shower ath and Iavatory in basement, roof of 20-pound tin and slate. Good Value at $9,250 Open for Inspection Anacostia Finance Corporation Lincoln 5500 New De_tached Four-Bedroom Brick $8,950 Terms Arranged To Suit Purchaser Exceptionally fine living stair landing; complete modern EK—ONLY ONE LEFT Nat. 2345 THE HOME SATURDAY, in the small vegetable garden without leaving a poison problem. ‘The earliest ripening of tomatoes are often irregular in shape and with a tendency to remain green about the stem. For this reason, one should plant a succession of tomato varieties, since the later kinds usually bear smoother and better colored fruit. 1If chard, lettuce or beets are making slow growth, a little sulphate of am- monia or nitrate of soda applied as a side dressing along the rows will usually speed development and assist in producing a nicer crop. These fer- tilizers are handled by most garden supply stores. In general, a well bal- anced fertilizer is needed in the vege- table garden, but for accessory feed- ing the two nitrogenous materials mentioned are excellent. The sweet potato, white potato, to- mato, bean and sweet corn, all im- portant members of the American vegetable garden, are themselves na- tive American plants. As a matter of fact, native flowers and native vegetables constitute the bulwark of Summer gardens. Garden Notes. WHAT appeared to be the onset of a small drought has fortunately given way to copious rains. It is surprising how quickly our local soils dry out after a few days. This is due to a low content of organic ma ter and explains, in part, why in corporating peat moss or rotted manure or leaves is so valuable in improving the condition of garden solls. Peat moss will hold something like 200 per cent more of water than will sand and much more than clay. Raspberry canes live only two years—that is, die the season of fruiting. There is nothing to be gained by leaving the old canes in the beds and they may do harm in a dry season. These old canes may also harbor insects, making it de- sirable to cut them out and burn them. This is also true of black- berries. Currants and gooseberry branches, on the other hand, live several years and need only pruning to keep the plants in shape. Summer fertilizing is often neces- sary to push along dahlias, gladiolus and other Autumn flowers, particu- larly so if the plants are growing on soil from which a Spring crop was removed. Fertilizer tends to leach into the deeper soil, particularly nitrogenous materials, and therefore WP ODWARD ™ U™ F anp G StrReeTs the Home Furnishing Lothrop. plan to change your DEALE BAY $ FRONT LOTS NSURES JULY. 20, 1935. repeated small applications are de- sirable, As was mentioned earlier, young privet hedges need repeated clipping to encourage branching growth. In other words, one must not expect to grow the hedge to the desired full height in one season, but rather to bring it up gradually. Those privet hedges which were cut down in the Spring are making fine re- covery and, in most cases, are n far better condition than if left un- pruned. The hardy primulas look rather decrepit at this searon beceuse the Spring follage has matur:d and the new leaves which will restore the plants to prime appearance in Sep- tember are just making their appear- ance. The plants need cultivating and fertilizing to hasten their re- covery. A new pest to gardens, at least an increasing pest, is the white ant or termite. This insidious enemy of woodwork attacks woody stems of chrysanthemums, asters and the like. | | One home gardener found that the | dahlia tubers were being eaten out by the termites. About the only thing that can be done is to replace wooden posts with fron posts and destroy plant rubbish by burning. Many an old-time garden owed much of its popularity, not only to brilliant flowers, but to fragrant flow- ers and foliage. Heliotrope, with its panicles of sweet dark blue blooms, lemon verbent with its aromatic sweet-scented leaves, and some of the sweet-scented geraniums, were | generally present. Sometimes one | wonders if a fad for old-fashioned plants would not be more to the ppint than the present desire to create rockeries. ‘Rather too often rock gardens are established in ill- adapted situations, where they mar the landscape picture rather than | improve it. ki o Patio Proving Popular. ‘That pleasant asset of Spanish type houses—the patio—is now being adopted more and more widely by REAL ESTATB., SAFETY OF REAL ESTATE INVESTMENTS STRESSED Inflation Will Make Realty Val- ues Better, SBays Virginia Head of Realtors. “Inflation can have one effect on| real estate, and that is to make of it & better and safer investment than ever before in the history of this coun- try,” says Morton G. Thalhimer, pres- ident of the Virginia Real Zstate As- sociation, in the Richmond Times- Dispatch. “Well managed endowment and trust funds all over the United States are giving serious consideration to| real estate for investment of their | funds. This is equally true of many investors. The wisdom of this is well rooted in the experience of many thousands of people all over the United States and the results obtained over the period of the last 150 years. “Well selected real estate is and will continue to be a safe investment.” The Maryland Lawyers’ Title’Corporation (A Md. Corp.) announces pened offices in Rock- iawyers licensed t the State of Maryland a have had lons experience matters. equipped to do this work thoroughly and promptly. Phone Rockville 87 such ONE LEFT—-TWO SOLD BRICK BUNGALOW AND GARAGE Built by Alfred R. Yancey 32 BAYLY AVE. HYATTSVILLE, MD. LOT 55x115 LANDSCAPED ONE-HALF BLOCK OFF HYATTSVILLE BUS LINE 6,350 5 Lovely Rooms Tiled Bath With Shower Hot-water Heat, Oak Floors Electric Health Kitchen Built-in Cabinets in Kitchen and Dining Room Fully Screened, Caulked, Agent 802 Wash-Balto. Blvd. HYATTS. 850 ‘ Riverdale, Md. modern day builders. Pictured in a currant issue of The American Home the red brick paving of a patio is par- ticularly effective against the dead ‘white of the exterior house walls. The | lattice trellis, designed for grape vines, | makes a picturesque pattern around | a doorway and the high walls of the | brick inclosure which face the patio are painted a soft yellow. . 4540 Dexter Roadway N.W. & Lornror Prone Di Visit the Westwood Model Garden Home 6015 North Dakota Avenue Blair Road and North Dakota Avenue Lot 37%;x161 feet, facing on tw (Large closets—2 cedar lined.) alcove, brick, slate roof, insulated, stripped and furred walls, spacious living room with open fireplace. o streets. 6 rooms and breakfast caulked, screened, metal weather- Furnished by Woodward & Lothrop Built by L. E. Breuninger & Son Opening Sundhy; July 21 Drive out Conduit Road, turn North on Foxall Road, then turn right into Dexter Roadway. This model home is located at 4540 Dexter Roadway N.W. This new model home, built by L. E. Breun- inger & Son, has been completely furnished by Staff of Woodward & The Woodward & Lothrop Studio of Interior Decoration is always ready to assist you in your home decorating problems—whether you present scheme or to decorate a new home completely. HAVE YQU SEEN BEAcCH On the Chesapeake Bay—Only 30 Miles From the Capitol Washington’s Nearest and Newest Bay Front at Sensational Low Prices JUST THINK OF IT! 199 INLAND LOTS WITH BEACH PRIVILEGES Many Less Than 200 Feet From the Water $19~529-539~$49-$59-569 Terms, 109, Down—Payments as Low as 50c Weekly DON’T LET THE LOW PRICES PREJUDICE YOU—THE STORY IS We Bought This Bay Front at a Very Low Price. We Pass the Bargain on to You. The Title Is Warranted—Your Deed Is Free WATER FRONT LOTS ‘99 | | | Open Daily and Sunday WAPLE & JAMES, Inc. Realtors 1226 14th St. N.W. Dis. 3347 |f| Opportunity, Summer Comfort, Life to the Utmost Beckon Thrifty Families to Deale Beach | These Unheard-of Bargains Are Going Fast Don’t Wait—Your Selection Is Best Today! E Representatives on Property Daily & Sunday Washington Representative Walter M. Bauman ~ No. 1 Thomas Circle N.W. Natl. 6229 i‘rv ; THE HOLLOWAY CO. ‘Vernon 0100 204 W. Saratoga St., Balto., Md. The Econyomicéal, Convenient Way to Borrow Money ACACIA REAL ESTATE LOANS NO COMMISSIONS or OTHER CHARGES except title expense and small appraisal fee A Definite Monthly Payment A Definite Payment Date A Definite Time of Maturity ACACIA offers three plans: One, at the rate of $6.15 monthly per $1,000, paid up in 25 years; another at $6.90 monthly per $1,000, paid up in 19 years and 11 months; and a third at $8 monthly per $1,000, paid up in 151% years. For example: On a $4,000 loan you pay $24.60; or $27.60; or $32 per month, ac- cording to the plan decided upon. You also have the special privilege of making larger payments or paying off your loan com- pletely at any time. Under these money-saving plans you pay back a little of the loan each month, and interest only on the outstanding principal, so that after a time the loan is all paid and you do not owe a cent. Be sure to ask Acacia about this feature. Acacia loans are available to owners of satisfactorily located properties in Washington and nearby Maryland and Virginia. The $6.15 per $1,000 plan is available only on new properties or properties recently completed. Call at Mortgage Loan Department ACACIA MUTUAL LIFE INSURANCE CO. Assets More Than $56,000,000 1437 K Street N.W. Washington, D. C.