Evening Star Newspaper, November 23, 1935, Page 20

B—4 REAL ESTATE. THE EVENING STAR, WASHINGTON, D. C, SATURDAY, NOVEMBER 23, 1935, Attractive Homes in Chevy Chase That Have Been Purchased Recently 1,30 INSTITUTIONS OBTAIN INSURANCE Thrift Groups in 43 States Move to Safeguard As- sets in 14 Months. More than 1,300 private thrift in- stitutions of the savings and loan type in 43 States in the past 14 months have taken steps to provide further safeguards to their 1,500,000 share- holders and depositors by applying for insurance under the Federal Savings and Loan Insurance Corp. Over $1,- 030,000,000 of assgts are held in the spplicant institutions, of which 1,035 with more than $600,000,000 of assets, are already insured, protecting each of their 890,000 investors against loss up to $5,000. Only well-managed, finan- eially sound associations are approved for insurance by the corporation. In emphasizing safety for long-term savings as the main reason for invest- ing in their institutions, in contrast to speculative profits or extremely high dividend returns with attendant risk, the executives of these associations also seek to reduce the cost of home owner- ship to the wuverage family, and to stimulate greater building acfivity, in view of the growing shortage of homes, by making long-term loans at corre- | spondingly moderate interest ratet They believe that such protection to the savings of great numbers of small in- wvestors is the most effective way to develop lower home mortgage costs, by attracting a large volume of money at reasonable rates. More than $6,000,- 000,000 of resources are held in asso- elations eligible to apply for such in- surance. Of the 1,035 savings and loan as- sociations already insured, 481 are long-established building and loan as- sociations, co-operative banks and homestead associations, 385 of which have converted into Federal savings and loan associations. The remaining | 844 insured institutions are newly or- ganized Federal associations. Practically all associations which have applied for insurance are mem- bers of the Federal Home Loan Bank &ystem, with acces to its low-cost re- perve credit facilities in expanding their Joanable funds and assuring greater Yquidity to the investments of their shareholders. Insured associations are Jocal in character and under private management. Their long-term mort- gage loan plans vary according to con- ditions in their own communities. Their interest rates on loans now gange from 5 per cent to 6% per cent in the Northern and Eastern sections, and from 5% per cent upward in most other parts of the United States. A number of insured associations have qualified and are insuring some of their mortgages through the Federal Housing Administration, although an fnsured association is not required to lace its funds in insured mortgages. ividend rates currently paid to in- westors in insured assoclations are from 81; per cent to 5 per cent annually, ac- ecording to the locality, the average rate for the Nation as a whole being slightly above 314, per cent. The Federal Savings and Loan In- surance Corp. was established by act of Congress in June, 1934. It has & capital of $100,000,000, subscribed by $he Federal Government. APARTMENT BUILDING RESUMED IN DETROIT City Has First Construction in 8 Years—Need Cited by Architect. For the first time in more than five gears, Detroit is witnessing now the sonstruction of an apartment house. Designed by Talmage C. Hughes, prchitect, it is being erected for Rob- srt M. Powell of 758 Longfellow ave- nue, owner, on & 45 by 120 foot site on she south side of Collingwood avenue, fust west of Woodward avenue. It is to be a three-story building eontaining twenty-four 3-room apart- ments of modern equipment. Comple- tion is scheduled for early next Spring. With apartments in Detroit practi- &ally 100 per cent occupied and rentals steadily increasing, Hughes pointed out that “the way is opened for a re- sumption of building activity in the Jarger scale residential fleld.” New Wall Color Effect. A painted wall that is rough or tched can be decidedly improved y sponge stippling. The final effect ! Construction (Contiuued From First Page.) while compared with October new | construction was up 78.1 per cent. | Virtually all sections of the country participated in the increased activity. Value Put at $87,145,000. “The value of all building construc- tion,” the department stated, “for which permits were issued last month increased 17.6 per cent, the total valu- | ation being $87,145,000, as against $74,100,000 in September. “Compared with a year ago, the value of buildings for which permits were issued shows an increase of 78.1 per cent. The October permit valua- tion for residential bulldings was nearly three times as great as during the same month of the preceding year. The value of both residential and non- | residential construction in October, 1935, was greater than in the corre- | sponding month of any year since | 1931, “New dwellings for which permits were issued during October will pro- vide living quarters for 8,574 families, an increase of 158 per cent, as com- pared with October the preceding year. “Permits were issued during Octo- ber for the following important butld- ing projects: “New York City—In the Borough of the Bronx for apartment houses to cost nearly $600,000 and for school buildings to cost $1,450,000; in the Borough of Brooklyn for apartment houses to cost over $2,500,000 and for a school building to cost $1,200,000; in the Borough of Manhattan for apartment houses to cost over 31,600,~ 000; in the Borough of Queens for two school buildings to cost $650,000; in the Borough of Richmond for an institutional building to cost $920,000; in Rochester, N. Y., for a factory bullding to cost nearly $400,000; in Chicago, 1L, for factory buildings to cost over $1,000,000; in Anderson, Ind., for a steel mill to cost approxi- mately $500,000; in Indianapolis, Ind., for an automobile assembly body plant to cost $750,000; in Detroit, Mich., for factory buildings to cost over $300,000, and in Washington, D. C., for buildings at the sewage disposal plant to cost over $600,000. The Housing Division of the Public Works Administration awarded contracts for a low-cost housing project in Cleve- 1and, Ohio, to cost over $2,500,000 and for a project in Montgomery, Ala., to cost over $330,000. A contract was awarded by the Veterans’ Administra- tion for a hospital at Waco, Tex., to cost, over $1,100,000. $674,000,000 in 10 Months. “During the first 10 months of 1935 permits were issued for buildings val- ued at more than $674,000,000. This is an increase of $264,000,000, or over 64 per cent, compared with the first 10 months of the preceeding year. Permits were issued during the first 10 months of 1935 for residential Left: New home, situated at 6355 Thirty-first street, which has just been purchased by Mr. and Mrs. John A. Harrington from the Wesmond Bullding & Investment Co. through the office of J. Wesley Buchanan, Inc. Right: Mr, and Mrs. A. C. Houser have acquired this home, at 6120 Thirty-third street, from G. F. Mikkelson & Son, bullders. Colonial in design, it contains seven rooms and two baths. —BStar Staft Photos. 595.7 per cent, with & 1035 total of | REALTY MAN HONORED $865,324, as against an October, 1934, | figure of $124,380. The East Nonh‘nlfl'! E. Gilbert of Baltimore Central States showed an individual| peaq of American Institute. gain of 546.8 per cent, with a 1835 Harry E. Gilbert, Baltimore, vice total of $7,983,120 and = 1934 total of $1,234,287. president of the American Institute Housing Administration also has been steadily increasing. The Middle Atlantic States recorded the highest total for October, 1935, with $10,575,575, as against $4,452,150. The East South Central States, how-l ever, showed an individual gain of | of Real Bstate Appraisers of the Na- tional Association of Real Estate ly. Mr. Gilbert succeeds Joseph B. Hall, 8t. Louis, whose resignation, be- cause new work he is at this time as- Home Presenting | 4208 Ingomar St. N.W., Chevy Chase, D. C. (Continued From First Page.) The dining room suite is of solid Cuban mahogany of Chippendale in- spiration. Splendid room balance is achieved with four side and #wo arm chairs. An unusually soft blue paper is used as a background for a lovely Hepple- white set, including twin beds in the master bed room. Here, too, the draperies and furniture coverings har- monize, with accents of contrasting color for imterest. Other pieces in this room are boudoir chair in plum color, satinwood stand, bonbon box, gold chair and vanity lamps at the ends of the dressing table. One of the other bed rooms is fur- nished entirely in pieces of modern design. In it are combined three colors—satin-finish black, deep peach and sea green. The lamp shades and bedspread are of peach and the cur- tains green, of a very soft, crinkled taffeta material. There is an attrac- tive modern bed room set in gray and black harewood, an open armchair in peach, two vanity lamps and other appointments. The guest room is furnished in maple. Here yellow wallpaper lends & fresh, cheerful note by use of con- trasting green draperies. A candle- wick spread adheres to the period of the furniture. Paint Aids Linoleum. OPEN DAILY UNTIL 9 P.M. Linoleum that has not been waxed may be painted or varnished. It is Siwags advisabie t0 varmsh. or lacquer CYRUS KEISER, JR. new (unwaxed) printed linoleum, both | il 211 Wi i A 0 preserve it and to simplify cleaning. | e itrieconsin GREENWIGH FOREST estricted Community of Fine Homes Moderately Priced AN IDEAL LOCATION—Convenient to Conn. or Wisconsin Ave. bus | and car lines. In walking distance of three of the finest new schocls f in the District, including the new Woodrow Wilson High School. i E_ROOMS—TWO BATHS—LOVELY PORCH—LARGE_ATTIC—SCREENED WEATHERSTRIPPED — OIL HEAT Completely furnished by Hutchisons, Inc. SIX LARG! SLEEPING - METAL CL. 5371 Boards, has been elected president of | the institute, taking office immediate- | suming will require his full attenti ‘was recelved with regret by the tnsti- tute. See This One Today! ® Seven-room brick home with stone front featuring bedroom and bath on first floor and 3 bedrooms and bath on second floor. ® Finest construction, copper gutters, furred walls and rock wool insulation. ® Located in beautiful rection between Massachusetts Avenue and Wisconsin Avenue. TO REACH Drive out Wisconsin Ave. to Fessenden Street, left to 46th, one block south to Ellicott St. J: Wesley Buchanan, inc. 916 15th St. N.\W. MEt. 1143 Present IN ARLIN REAL ESTATE, BALTIMORE RENTAL GAINS REPORTED Season Is Active With Prices Holding Own—s8light In- creases Seen. September brought to = close one of the most active renta) seasons ex- perienced in Baltimore during the last several years, according to the Bale timore Association of Commerce, “Rental prices remained steady, with some upward revisions of from 5 to 10 per cent being shown,” the report says. “The number of property vacan- cles continued to show a downward trend and an increase was noted in the demand for new dwellings. An ample supply of mortgage money is still available for making conservative loans on high-grade real estate and good ground rents are being bought and sold at attractive prices. “The outstanding development in - the building industry so far this year has been a moderate revival in resi- dential construction. For the first nine months of 1935 the value of the 285 new dwellings permitted was equivalent to 45.4 per cent of the value of permits issued for all types of new construction. This compares with 68 new dwellings and a ratio of only 8.4 per cent for the correspond= ing period last year. Although the showing for 1935 is far below the levels for earlier years, it is neverthe- less indicative of a definite upward swing, which should become | more pronounced during 1936.” even SHEPHERD PARK Another New Brick Colonial Built by BIRON BROS. 1428 JUNIPER STREET Overleoking Rock Creek Park A beautiful, modern home—3 large bedrooms and 38 beautiful baths—finished third floor—2 fireplaces—library and lavatory on first floor—recreation room—oil burner—screened porch— large lot—2-car garage—perfect location. Will Consider Trade O Iy . AM.to 9 PM. Towe Bidg. ing 3 New Homes GTON COUNTY, VIRGINIA CLOSE TO LEE HIGHWAY *6,250-°7,250 5 ALREADY SOLD is one of patterned richness. Many | bulldings valued at $232,000,000, an people adopt the expedient of doing | increase of over 162 per cent, as com- the walls in a suitable plain color | pared with the corresponding period with the plan of sponge stippling | of 1934." 0t after a season or two, thereby| The volume of business reported by having a complete change in color | private financial institutions in home flect. mortgages insured by the Federal WAVERLY TAYLOR. %« INVITES YOU TO VISIT The New American Home n 2257 Nottingham Street Furnished by P. ]J. NEE CO. A REAL HOME—A GOOD INVESTMENT In addition to the pleasing appearance and careful planning of these homes, the large lots and the convenient location, you will be amazed at the high quality of construction available to the home buyer at such low cost. All-brick, with large attic and cellar, furred walls, five large rooms, tiled bath with shower, screened and weather- stripped, automatic refrigeration, and copper flashing, gutters and downspouts. i Frankly, you won't believe it until you see how much real value your money will buy here. Every city convenience, churches, schools, and rapid transportation to heart of Washington makes this a most desirable ploce to make your home, Don’t miss the opportunity, Come out and see for yourself !odcy. OPEN DAILY AND SUNDAY FOR INSPECTION 7117 Hampden Lane Furnishings, Huichison’s, Inc.—Draped by Ligon Landscaped by Small’s This authentic Colonial home is one of the finest-built, finest-equipped and most beautifully finished houses offered on today’s market at such an amazingly low figure. Situated on a beautifully wooded fot (172-ft. frontage), surrounded by new homes of architectural harmony, this home offers a most unusual and practical floor plan. It contains 5 bed rooms (bed room or den with lavatory on first floor), 3 complete baths (shower and tub in each), a most unusual recreation foom, finished attic, numerous large closets, 2-car garage. GREENWICH FOREST is located in the heart of the Country Club Section offering the charm of the countryside and healthfulness of outdoor life, yet enjoys all city conveniences. DRIVE OUT TODAY—and see Washington's most beautiful, established suburb. Two addi- tional homes open for inspection, OPEN—Heated and Lighted Daily Until 9 P.M, E Electric Heolth Kitchen Homes At Vale Street and Rolling Road Fi by F. H. A. or Any Other Desired Plan TO REACH: Drve ut Sictenth St fo SherelDrive e, posite Walter Reed Hospital] thence to Beach Drive ar I Directions—Drive out Wis. or Conn. Ave. to Bethesda traffic turn right two miles to sign at Leland Strset, or . . . Drive light, turn left on old Geor, Road_to Women’s Market at out Connecticut Avenue to East Woodbine Street, turn right Wilson Lane, turn left on Wilson Lane to Greenwich Forest. e S A o e T . GAFRITZ CONSTRUCTION 00. ~ Developers—Architects—Builders Phone Wisconsin 5204 o[lin?'waof Furnished and Decorated by ‘WOODWARD & LOTHROP THIS HOME, SPONSORED BY THE GENERAL ELECTRIC COMPANY, IS AN ELECTRIC KITCHEN HEALTH HOME, INCLUDING G. E. ELECTRIC DISHW ASHER AND KITCHEN WASTE UNIT AND IS EQUIPPED WITH G, E WINTER AR CONDITIONING. . sketeh TeBt en Lee Notéingham 8. sim) turn left EAST FALLS CHURCH REALTY CO. Owner: ilders A. S. GARDINER, Jr., Treasurer 2t Bu NAtional 0334 A. S. GARDINER, President 1510 K Strest N.W.