Evening Star Newspaper, November 30, 1935, Page 22

" B—6 =x» REA HOUSING ACT SEEN AID TO BANKING Financial Institutions Push- Ing Loans to Half Billion Mark. Approaching the first half billion doliars of results under the operation of the national housing act, two fac- tors particularly mark the success of this new undertaking of the Federal Government. ‘These are an almost limitless profit- #ble outlet for frozen bank funds and s very marked rise in residential con- struction. ‘The record is made clear in hun- dreds of letters from financial insti- tutions, industry, commerce and indi- viduals attesting the effectiveness of the national housing act in just what Congress intended it to accomplish— stimulation of industry and re-em- ployment as well as improvement in the American standard of living. New home construction and mort- page refinancing under the national housing act gained comparatively lit- tle momentum until last Spring. This was chiefly due to the need for ena- bling legislation. However, by Spring, 45 States had amended laws govern- Ing the practice of mortgage lending, and it was only after this that the housing act operated without any curtailment. ‘With the approaching end of 1935 Bpproved financial institutions are pushing the total volume of business in modernization credit loans and mutually insured mortgages toward the first half billion dollars. Through November 25 the actual total amounted to $450,868,947. Chance to Own Homes. *We can't dismiss this gratifying total” Stewart McDonald, adminis- trator, sald, “without thinking that we have given the banking interests of the country a new, safe and highly profitable form of investment for bank funds. And we are equally warmed by the conviction that we are giving to countless thousands of wage earners a ehance to own their homes—perhaps to many their first and only opportu- nity “Residential eonstruction is rising @ll over America. We know, of course, that insured mortgages are not wholly responsible for the 200 per cent in- erease shown in recent months. Build- ing of homes, however, is a contagious thing. One new home provokes an- other, and another, just as modern- #zation of one home in & neighborhood | frequently results in group improve- ment, sometimes to the point of in- creasing real property values in an en- tire section. And the fact that home ‘building and real property improve- ment not only results in widespread | re-employment of skilled and un- skilled labor, but stimulate industry as well, is too elemental to need any explanation, “Banking and have been quick to recognize the| national housing act as an opportu- nity for increasing bank revenues. Un- solicited statements from bankers themselves prove conclusively that | this is & fertile and almost unex- plored field of investment. $229,996,562 in Mortgages. “Through November 25, mortgage lending agencies throughout the coun- try recorded a total of $229,996,562 in mortgages selected for appraisal. In the light of the mutual insurance of mortgages, no mortgage lender can Jose capital invested under the na- tional housing act. “Hundreds of mortgage lending | agencies recognize the opportunity for increased banking revenues in insured mortgages and have developed highly specialized and sometimes novel means for increasing the number in their portfolios. i “It is true that under the old short- term mortgage system, with its higher interest rate, some lending institu- tions did earn a greater immediate re- turn. But the fallibility of this sys- tem and its resultant collapse in time of stress is too well known now to be preferred over the single morigage | system of the Federal Housing Ad-‘ ministration. “Banks, trust companies and olherw mortgage-lending institutions have eome to realize that equally as im- | portant as earning money is the; achievement of greater security and | higher living standards for the Amer- ican people. We certainly can expect happier results under the national | housing act in this respect than under | the old system.” e Paints Portraits With Gun. As a hobby, Fred Lawrence, auto-| Mmobile painter in Oklahoma City, has painted more than 100 landscapes and | portraits with a spray gun. Different| effects are obtained by the trigger acton, the distance of the nozzle from | the picture, and the consistency of the lacquer. Says Mr. Lawrence: “The flexibility of the spray gun, combined with the lasting qualities and color range of medium lacquer, convince me that spray pictures will have a definite place in art in the near future.” "JUST COMPLETED A charming modern 25 Minutes From Downtown “Bradmoor” A planned and restricted community close J 6 Spacious Rooms d Bath Dmmg Alcove Wood Burning Fireplace ©® Lot 85x148 feet ® Basement Garage ® Extra Lavatory Drive over Pa. Ave. Bridge to 25th St., turn right, follow Leonard- town Rd. to sign on right side of road. HEALTH lending interests | L ESTATE. Architect’s drawing of the Southern Colonial home which will be erected on Brookside drive, Kenwood, for Mr. and Mrs. Robert W. Harvey, on land acquired from the Kennedy-Chamberlin Development Co, Construce The dwelling will have 10 rooms and 3 baths. tion will be started immediately. F.H.A. System Evaluates Homes For Purpose of Imuring Loans Real Estate Broker Is Qualified to ~ Judge Needs of Home-Seeker, but Architect Must Interpret Them. BY HOWARD LELAND SMITH, (Chief Architect. Federal Housing ‘Administration.) ‘The Federal Housing Administra- tion, in its program to encourage better housing, has established a system by which homes are evaluated for the purpose of insuring mortgage loans. The factors which tend toward favorable ratings for such mortgages on any dwelling are well known to | most architects. In fast, it is part of an architect’s early training to approach the problem with the idea of not only making his creation a | thing of beauty but also one which is both practical and durable. He is taught to arrange rooms simply, giving careful attention to those two | most important factors, light and air. He also knows that a well-designed mechanical system is vital to the comfort and health of his client. | Above all, he realizes that the home must possess those qualities which | make for livability—namely, conven- | tence, comfort and privacy. Must Interpret Needs. It may be assumed that the real estate broker or the operative builder is qualified to judge the needs and desires of the average home seeker; {but it remains for the architect to interpret these needs by means of carefully studied plans and their re- lationship to the lot as well as to the surrounding neighborhood. No longer can any one question the economic soundness of employing an architect to plan and supervise the construction of a house, no matter how small and inexpensive it may be. Neither is it necessary to discuss the problems of the *“jerry-built house,” which, being poorly planned and built, has helped to create the blighted areas in meny of our urban and suburban communities. We are conscious of these facts as we at- tempt to estimate the loss caused by the economic storm whose fury is now abating. Mortgagees who were obliged to take back many of these homes lost during this crisis are finding it extremely difficult to make resales, because the prospective home | buyer has through experience ac-| quired enough information to know what constitutes good home values. | Considerable credit is due to the| manufacturers of building supplies and equipment. Through the medium Exceptlional Values Homes that have been completely reconditioned, and ready for im- mediate occupancy. 135 12th ST. S.E. Colonial tapestry briel tile bath. inclosed rear water heat. two-car brici Teal nuy that is offered at ‘substantial reduction from original cost. 130 12th ST. S.E. Semi-detached brick: six large rooms 2nd tile bath. hot-w eat, recrea- Thon Foom. brick karace: sereéned and weather-stripped. Price. $7.950. 1718 A ST. S.E. Modern Colonial brick: six rooms, excellent hot-water h & plant. dou- ble rear porches ze ied Tar twe iommilien. " “Brice, $6.250, on very easy terms. Open Sunday for Inspection John F. Donohoe & Sons 314 Penna. Ave. S.E. Eorchu. home in the country to schools and stores. Oak . Floors Ha! 'lctfl "fll' Lcne Sldl brdl Full Dry Basement Laundry Space Cedar Closets Price $7.150 YOME HARRY F. BRADLEY—Builder Clinton, Maryland. Phone Marlboro 16-F-31. of architectural competitions and extensive publicity campaigns, their activity in stimulating remodeling and new-home construction during the many months when building opera- tions were practically at a standstill has undoubtedly created a desire for better housing conditions. Employment for Architect. Better housing means better plan- ning, and better planning means em- ployment for the architect. A great deal of educational work has already been done toward making the public consclous of the necessity of employ- ing the services of a professional architect for any building operation. Laws have been passed in certain | buildings | States requiring that all must be planned by registered archi- tects. This makes for greater safety | of construction and a higher stand- ard of architectural design. Through an understanding of how the Federal Housing Administration | stimulates home construction, the architect specializing in residential work might well avail himself of the information with regard to the pos- sibilities of improving his practice, This information in the form of cir- culars may be obtained from any | local Federal Housing Administration | insuring office or from the Washing- ton office. He should also receive some encouragement from the recent estimates made by housing authori- ties that many millions of dwelling Autoville, Md. Beautiful, new, oll-brick home in new subdivision. Six rooms, 2 baths, recreation room, oil heat, large fireplace, built-in garage, hardwood floors, large lot. Open Daily and Sunday 1P.M.to 9 PM. To Imspect: Drive out Baltimore Boulgrard 3 blocks north of Beruwun.: tura\ left 4 Ddlock to mew home, For Sale by Owners and Builders NELSON & HUNT Berwyn 93-J units will be needed in the next 10 years, The successful carrying out of such a program to meet these needs will have a telling effect upon the better- ing of our social and economic condi- tions, and may be considered a chal- lenge to the architectural profession as the problem becomes more appar- ent, The administration has every rea- son to believe that the architectural profession will meet this problem squarely and will, individually and collectively, form the spearhead of the forward movement now under way | whose objective—improved housing | conditions in America—will eventual- ly be attained. BOOK SHELVES ADD Help Increase Attractiveness of! Living Room. I Most living rooms, no matter how | attractively furnished, grow tiresome if the decorations are not occasionally changed. An effective improvement |is built-in book shelves on each side of the fireplace. They will add char- acter to & room, improving it out of | all proportion to the trouble and ex- | pense involved. Other effects may be obtained with built-in window seats| and wall cabinets. space, mirror. SATURDAY. PRIVATE BUILDIN 15 AT NEW PEA Downward Trend of Three Months Halted—Gain Is 32.9 Per Cent. After showing & downward trend during July, August and September, building activities in the fleld of private enterprise rose sharply in Oc- tober to & new peak for the recovery movement, according to the Alexander Hamilton Institute. ‘While the normal tendency is for expansion in October, the increase over the September volume was much greater than usual, amounting to 32.9 per cent this year as compared with the average of 5.1 per cent for the 10 preceding years. In addition, building in October was 74.5 per cent more active than in the same month last year. In the first 10 months, total build- ing contracts amounted to the larg- est volume for any corresponding period since 1931. The increase over last year amounted to 47.1 per cent and the increase over 1933, when the loy for the depression occurred, amounted to 56.1 per cent. Oniy 9.9 per cent of the ground lost in the 1928-1933 slump has been regained up to the present time, however. The upward trend of rents was ex- tended in October with the index, based on 1926 as 100, rising from 71.2 in September to 71.8. Rents are now 16.2 per cent higher than at the low for the depression in January, 1934. | The rise in rents in October was ac- companied by a decrease in building costs during the month, the cost index dropping from 938 to 93.7. The spread between reats and building costs was thus further reduced, & de- velopment which should make for a | further recovery in building opera- tions. Cabinet Conceals Basin. Screen and towel box are no longer | necessary accessories to the office | wash-basin. A new steel cabinet, open i at the back, completely conceals the basin, affords easy access, storage | Stove Parts Boilers, Furnaces, Stoves Capitol Rock Wool Insulation Air-Conditioning Furnaces Fries, Beall ¥ Sharp 734 10th St. NNW. Nat. 1964 Open Daily and Sunday 10 AM.to 9 P.M. Located just tuwo real beautiful ences. 916 15th St. N.W. 3919. Fulton St. N.W. It will Be Hard to Duplicate This House for the Present Price, $14,750 A new br tleeping porch, modern kitchen, garage and many closets. On high elevation, with view of the ever matic heat and all other modern conveni- The lot is deep with a 60-foot front. Only a few block off car line. It is a REAL opportunity and should be seen today. J. Wesley Buchanan, Inc. ick dwelling of six large rooms, recreational room, Virginia Hills. There is auto- blocks from Cathedral, one ME. 1143 Spacious, group-home values on and weathér-stripped, ville insulation. 1510 K St. house market. All brick, slate roof, concrete front porch with iron rail- ings, gas heat, completely screened The first floor con- COMPLETELY EQUIPPED Open Daily & Sunday 10 A.M. to 9 P.M. A. S. GARDINER L DISTINGUlSHED L NEW HOMES IN GLOVER PARK 2330.2332 39th ST. N.W. beautifully that are unquestionably the soundest built homes ot e on 2 beautiful Johns-Mans- in garage. Owner-Builder tains entrance hall, living room, din- ing room and ultra modern kitchen, On the second floor are 3 bedrooms, abundant closet space. basement contains a lovely pine- panelled recreation room, storage gas water heater, laundry tubs, built- Drive out Wilcolfin ALI fo Cl!u"l St., west 2 blocks Siotle on'S5th da Rowsess colored tile baths and The large . EASY TERMS o hen left one " NOVEMBER 30, 193 ONLY SEASONAL DECLINE IN LUMBER MOVEMENT Week Ending November 168 Shows Production 5 Per Cent Relow Previous Week. The lumber movement during the week ended November 16 showed no more than a seasonal decline from the previows week, production of re- 2 and 1 per cent, respectively, below and new business and mill shipments 2 and 1 per cent respectively below the week ended November 9, accord- ing to reports to the National Lumber Manufacturers’ Association from re- glonal associations. Reported lumber orders were 7 per cent below, and reporting shipments 10 per cent below production, com- pared with 10 per cent and 15 per cent, respectively, the preceding week. All jtems were reported by identical mills as appreciably in excess of cor- REAL ESTATE., responding week of 1934, production at these mills being reported as 45 per cent above last year; new business 24 per cent above, and shipments 15 per cent above. During the week ended November 16 560 mills produced 206,931,000 feet; shipped 185,510,000; feet; booked orders of 192,400,000 feet. Revised figures for the preceding week were mills, 562; production, 218,152,000 feet; shipments, 186,274,000 feet; orders, 196,527,000 feet. BANK ADVERTISING AIDS GIVEN BY F. H. A. “Bank Advertising Suggestions most recent publication of the Fed. eral Housing Administration, has just been given wide distribution. ‘The publication, in the form of a 12-page folder, was prepared for insti- | tutions to aid them in placing before the public the advantages to be de- rived from the “Single Mortgage Sys- tem” and the “Modernization Credit Plan” of the Federal Housing Adming istration. Coples of any of the ma- ¥ terial in the folder are available with- out charge in mat form and may be obtained through local newspapers, — Spun Rayon in Towels Highly absorbent spun rayon is now being interwoven with cotton into dish, bath and hand towels, wash cloths and bath mats. The towels are s?m to dry without rubbing or fric- tion. Liquid Plant Food Amazing “om — HOUSE PLANTS New. sclentifically prepared, com= pletely balanced fertilizer, CONVENIENT—ODORLESS YOU ARE CORDIALLY INVITED TO INSPECT THIS NEWLY FURNISHED HOME 21 Cedar Parkway, Chevy Chase, Md. OPEN DAILY AND SU 2 PM. to 9 PM. NDAY Furniture by Hutchison Draperies by Ligon Drive out Conn. Ave. to Circle, north west 2 blocks to Cedar home. to Kirke St., Parkway,” furn right to The Federal-Ameriran Company 14295 Eye Street Northwest 4849 Upton Street ‘A Home in the Hills of WESTERLEIGH The new section of Wesley Heights To be accorded the distinction of selection as a Silver Star Home certain very definite qualities must be attained—and this home received the unanimous approval of The Star’s acting committee. _ So it is an outstanding home—different in design; different in interior arrangement; different in appointments—features that will appeal to you as it did to the Siiver Star Home Com- mittee. €ex- It has the sound construction value that makes every Mil- ler-built Home superior—and the wonderful natural beauties which only a Miller-controlled community provides for their su- perior homes. There was a record-breaking crowd attend- ing the initial presentation last Sunday. 16,950 The home is completely furnished—with con- sistent judgment and taste—by Mayer & Co. —and those little touches of decoration which appeal to fancy are supplied by Wesley Heights Shops. Open Sunday and Every Day, Motor out Massachusetts Avenue to Upton Street, corner 10 AM.to 9 P.M.: of 49th. On the way to or from the Silver Star Home, stop and inspect 3701 Fordham Road, the newest home in Spring Valley. NAtional 0334