Evening Star Newspaper, December 7, 1935, Page 21

REAL ESTATE. 1,30 INSTITUTIONS ASK U.SINSURANCE Home Financing Groups in | 43 States Apply to F. S. | L. I. Corporation. As of November 23, over 1,330 pri- wate home-financing institutions in 43 States had applied for insurance with the Federal Savings & Loan Insurance Corp. for the purpose of protecting | each of their 1,500,000 investors | sgainst loss up to $5,000. The re- sources of the applicant institutions aggregate $1,045,037,000, or more than | 16 per cent of the entire resources of all institutions of the building and Joan type in this country. On the same date, 1,058 of the appli- eant institutions had actually been in- sured after examination by the cor- poration, affording the safeguards of such insurance to their 899,384 share- holders or depositors. The total re- sources of associations already insured exceed $613,000,000. During the year and a half since | the insurance corporation was estab- lished by Congress, a number of in- sured associations have reported that | &s a result of such insurance they are | receiving so large a volume of private savings as to permit them to make mortgage loans to home owners at lower rates of interest than in the | past. In several instances, insured as- sociations have been compelled to put & limit upon the amount invested by any individual shareholder, because the funds now at their disposal tem- A view of the attractive living room of Georgetown’s “pink house,” which is a 100-year-old structure at 3414 Reservoir road, recently remodeled by Mrs. Roxana B. Doran and Stanhope Chase, THE EVENING BSTAR, VV‘ASHINGTON, D. ¢, SATURDAY, DECEMBER 7, 1935. Interior of Remodeled Georgetown House porarily exceed the local home mort- gage loan demand for the investment of such resources. An increasing number of applica- tions for insurance are being received each week by the corporation, reflect- ing the desire of hundreds of thou- sands of small investors to obtain this protection for their savings placed in long-term thrift associations of the savings and loan type. Of the 1,339 applications so far received 775 have come from long-established building &nd loan associations, 322 of which Nathan Straus, Unbridled greed is the chief cause | of slums, Nathan Straus, president of | the Park Association of New York iclty and a former member of the New York State Senate, said in a Greed, Cause of Slfims, Says MANHATTAN ISLAND Before Students ©'TY PLAN IS URGED e i A study by architects of the main | ess significant than the fact that | | | poor living conditions mean sickness, | 2Tteries of the Island of Manhattan | | misery and crime, not just for the a8 the first step in developing a city | islums. but for the entire population. |plan is urged by Hobart B. Upjohn, { It requires no noble sentiment for | president of the New York Chapter | making loans is the high rates rather | ranging from 9 and 10 per cent up- mre operating under State charter, while 453 have recently converted into Federal savings and loan associations. The remaining 564 applicant associa- tionse are newly organized Federal |ssociations. It is estimated that nearly 250,000 #mall home owners are now financing the ownership of their dwellings through long-term mortgage loans made to them by associations which have applied for insurance through the Federal Savings & Loan Insurance Corp. In order to make additional credit mvailable to these private home- financing institutions, Congress last May authorized the Federal Home Loan Bank Board to invest up to $300,000,000 of funds of the Home Owners’ Loan Corp. in associations insured by the Federal Savings & Loan Insurance Corp., or which are members of the Federal Home Loan Bank System. The combination of Federal volume of private savings attracted by insurance is a steadily increasing factor in making more liberal mort- gage rates possible for large numbers of home owners, WHOLE-WHEAT RECIPES Maryland U. Extension Service Specialist Cites Dishes. For those who enjoy and prefer the distinctive flavor and quality of whole- wheat flour there are a number of recipes which can be prepared easily at home, according to Miss Margaret McPheeters, nutrition specialists for the University of Maryland Extension Service. pes are whole grain or cracked wheat cereal, whole-wheat pudding, scalloped ham and whole wheat, and whole- Wheat cookies. Especially for these crisp, cold days of early Winter, whole-wheat grain or | cracked-wheat cereal provides a nour- ishing and tempting new breakfast dish. This is made very easily, ac- | cording to Miss McPheeters, by soak- ing cracked or whole wheat for several hours and then cooking slowly for | four to six hours, Ventilated Awning. A ventilated aluminum awning of the Venetian blind type is now on the market. It is said to be impervious to weather, only the operating and tilt- ing cord requiring replacement. investment and a growing | Included among these reci- | recent address at the Riverdale | Country School, Riverdale-on-Hudson, |N. Y. members of a new generation “to do | far better with the problems of hu- | | man relations than the adults of to- | of slum districts into public parks or | Mr. Upjohn. | day have done.” than that of the slum, Mr. Straus declared, adding that one person in three in New York, City lives in a building which in 1900 was declared | unfit for housing. “Some districts pay so little in taxes,” he continued, “that the rest of us pay for whatever city protection | our citizenry to become determined upon decent living conditions for | tion and common sense.” Mr. Straus advocated the conversion into fewer and higher priced buildings No other problem is of greater im- 1 and the construction of modern houses | moved back, portance to the whole community|on new open land for those now in |good, but a drop in the bucket com- | the slums. “Our Federal Government should lend funds for this purpose at low rates of interest to limited dividends | corporations, and the local govern- | ment should become a partner in the enterprise through partial or complete | tax exemption,” he asserted. BUILDING IN WINTER HELD PRACTICABLE | Difficulties of Working in Wet or Freezing Weather Can Be Overcome. The popular impression that build- ing during the Winter is 1mpmcucsli and too expensive is gradually being | dispelled. The old-fashioned theory | that building operations should start | about April and run their course, | leaving several Winter months for labor and material to hibernate, | is erroneous and unfortunate Ior1 | all concerned—the prospective home | owner among them. | During unusually wet or freezing | | weather concrete or masonry or other such work requiring water present | difficulties, but these can easily be | overcome and need not concern the | owner. As a matter of fact, the days | when such severe conditions exist are surprisingly few. For instance, St.| Louis averages 11.1 days a year when it is to wet for outside work, 14.9 | days when the thermometer goes be- low 18 degrees and does not go above | 24 degrees, 12 days when the tempe- degrees, and 29.3 days when it is| between 25 and 30 degrees. Chicago has 5 days that are too wet, 25 in the coldest category, 16.4 of the next, and 31.1 of the mildest. Illuminated Symbols. Tlluminated religious symbols and other designs are incorporated in an- other new electric lamp. It operates without a filament, gives a cool, mellow | light. NOW OFFERING BY POPULAR DEMAND! Only 5 Minutes’ Drive to U. S. Capitol Another new group of these fast-selling homes MORE COMPLETE If you missed or failed on the other IN EVERY DETAIL groups, seé these today. You will be delighted to find how we hove arranged these most unique TWO-IN-ONE HOMES. IMMEDIATE POSSESSION—THREE STILL AVAILABLE $300 cown TWO-IN-ONE You can pay for your home and live In it for less than $25 a month. Long- Term Financing. A SINGLE HOME COMPLETE IN ITSELF But Arranged for Two Families WITH COMPLETE PRIVACY FOR BOTH TO REACH: Out East Capitol St. to a7th, North to C St., East 2 blocks to 18th Be sure to see our sign. HOMES Yol wecms B oMl Inspection Invited 314 18th St. N.E. WAPLE & JAMES, Ine. Members of Washingt: {1224 14th St N.W. on Real Estate Board District 3347 BALTIMORE HOME SHOW JAN. 4 T0 11 to Sponsor Exhibit at Armory. Special Dispateh to The Star. BALTIMORE, December 7.—Ar- rangements for the Baltimore National Home Show, to be staged January 4 to 1: a’ the Fifth Regiment Armory. have been completed. The show is being sponsored by the Real Estate | Board of Baltimore in co-operation with the Federal Housing Administra- | tion and the National Associatior of Real Estate Boards. It will be after | standards set by the Manufacturers’ Housing Display Council. plays. Nationally known manufac- turers already have taken half the space. One of the features of the show will be the exhibition house contain- ing seven rooms and bath and a one- car garage, which will be built in 24 hours on the opening night. after plans drawn by William Gordon Beecher, Baltimore architect. F. H. A. and Real Estate Bourds} of the American Institute of Archi- | He urged the students as |every one, but just plain self-protec- | tects. “We are drifting on aimlessly with no predetermined objective,” declares “New streets are being stoops removed, curbs and corners rounded, all | determined, | pared with the vital problem of main | directional arteries. | “The whole problem of city plan- | ning has none of the complexity which seems to surround it. It is not an | occult art enveloped in mystery. It is | a vast problem, but one which the | architects of this city are eminently qualified by education and training to study and solve.” | ) CATHEDRAL | form appears to lie in a complete re- ! industries affected.” 3834 Garfield St. N.W. INTEREST SLASH NEED OF HOMES President of Radiator Com- pany Says It Would Curb Shoddy -Building. A drastic reduction in interest vates on home financing was urged last week by Rolland J. Hamilton, presi- dent of the American Radiator Co., to curb “shoddy building.” Mr. Hamilton, a member of the Committee for Economic Recovery, declared that the 4!, per cent rate proposed by that group recently in its report to President Rosevelt would not only encourage home building but would place financing on a more sound basis, improve building stand- ards and lead to much needed reforms throughout the entire bullding in- dustry. Construction Behind. Speaking before the annual con- ference of the Associated Business Papers, Inc, in New York this week, he asserted that construction had failed completely to keep pace with other industries in lowering prices for mass consumption and improving standards. Adoption of a low rate on financing would automatically remove building from the field of speculation and place it in a field of investment where the lending agencies would place a premium on high standards and im- proved methods to protect their in- vestment, he said. Under present conditions, he added, there. is little incentive for high stand- ards, as the chief consideration in than the soundness of the investment, Housing Solution. “The housing problem in this coun= try will be solved,” he declared, “only when wo do as England and France have done and provide money for the | financing of home building at sound investment rates, such as 4', per cent, instead of at the present rates ward, when commissions, bonuses, re- newals, etc., are taken into account. “Housing standards in the United States are so low that they would not be tolerated in any other major in- dustrial nation in the world today. For the great majority of the popula- tion they fall far below the general | living standards. Reform seems to be necessary and the key to that re- | vision of our concept.of home finance. “The industries concerned with home building are many and varied, but at one point their interests merge. | That point is in the financing of new | construction and it is there that the | impetus can best be given for progress | that will permeate all branches of the | 41.3% of F. H. A. Mortgages Handled by National Banks the inception of the Federal Administration’s “single mortgage system,” national banks have handled 41.3 per cent of mort- gages accepted for insurance by the Federal Housing Administration. This fgure is as of October 31, 1935. State banks have been second in the volume of insured mortgage “usi- ness handled with 27.2 per cent; sav- ings and loan associations, 16.8 per cent; insurance companies, 6.3 per cent; savings banks, 5.5 per cent; mortgage companies, 2.2 per cent; finance companies, 0.1 per cent, and others, 0.1 per cent. National banks have also led in the amount of modernization credit ex- tended to borrowers with 40.88 per cent; finance companies, second, 27.59 per cent; State banks and trust com- panies, 24.63 per cent; building and Joan associations, 0.74 per cent; sav- ings banks, 0.66 per cent; credit Since Housing REAL ESTATE, %« B-5§° REALTOR IN PLAY Ralph’ Howenstein Will Appear in “Squaring the Circle.” Ralph , Howenstein of Howenstein Bros., real estate firm, will play an m_xpormm role in “Squaring the Circle,” Russian farce, which the Studio of Theater Arts will present at Wardman Park Theater December 10 unions, 0.04 per cent; others, 0.05 per cent. Life insurance companies have par- ticipated extensively in the insured | mortgage field. Of 138 insurance com- | i s ol o fl’f“’é{."cx: | and 11. e is cast as Comrade Flavius, panies have accepted morigages fm,iCommunm orgauizer, in which ca- insurance, Pifteen insurance com- | pacity he will take an active part 1+ panies (transferees) have bought austmlghkmng oL the difficulties in large amount of insured mortgages | which some members of the All-Union from approved mortgagees. - | league of Communist Youth find The Low-cost Housing Division of | themselves involved. the Federal Housing Administration reports that insurance companies have financed approximately one-third of the mortgages accepted for insurance. furniture that seem to fit nowhere. Clock Dial Illuminated. Think first in terms of a new coat A new electric alarm clock has an | of paint for them. You will be sur- flluminated dial, can be set to ring | prised how many of them will take automatically each morning. So set, | & new lease on life—and you will get Paint Restores Furniture. Don't discard marred and banged-up chairs and tables and odd pieces of & fiip of the shut-off knob silences it | such real satisfaction in their reju- until getting-up time tomorrow. | venation. GI'IWGD(]. is different.... HIGHLANDS This unusually well located corner brick home has three exposures that give it It is in os fine condition as you could ask for. plenty of sunshine and air. There are eight bright rooms (4 bed rooms), two baths, entrance hall, concrete porch on two sides, small librory on first floor; pantry, finished recreation room in cellar; built-in two-car garage with paved driveway and efficient oil heat. The ottic has been insulated with Celotex and is readily accessible. Possession can be had in thirty doys. The price of $13,250 is ‘way below cost and it can be financed to suit purchaser. There will be 158 booths and ‘dis- | Open Sunday, 11 A.M. to Dark A. S. GARDINER 1510 K St. N.W. It is| rature ranges between 18 and 25 | . Kitchen. garage. .Open, Lighted and Heated Deily and Sunday to 9 P.M. 1501 KALMIA STREET N.W. $13,950 An all-brick center hall home. A living room of ample proportion with open fire- place. On the left of the hall is a large dining room and an Electric Health At the rear of the hall a door leads into a library or den panelled with knotty pine; this room also has a door communicating with the living room; o lavatory completes the first floor equipment. On the second floor there are three excellent bedrooms, two handsome tiled baths, and a large screened sleep- ing porch. There is an attic approached by an easy stairway. The house is insulated, metal weather-stripped, furred and screened, gutter, flashing and down spouts are of copper. There is oil heat, electric refrigeration, and a brick To Street to Kalmia; Exclusive Agent Nat. 0334 - Presenting in Northgate Our Latest Achievement in Home Building 5 teach—Drive out kéth turn right half block to house. Na. 5904 Inviting fireplace in Lounge Room of the Kenwood Golf and Country Club To those who enjoy golf, tennis and swimming Kenwood home ownership is a source of much joy. Almost at your door is one of the finest Golf and Country Clubs in this vicinity with complete club facilities for the entertainment of your family and guests. Your inspection of this community will convince you that it is the environment your family deserves. The present price of land is much below its actual value. Plan to build “Your Home” in Wash- ington’s Finest Residential Community, @dg~€hmkeflin Developmen% Co To reach Kenwgod drire out Comnecticut Are- nue to Chevy Chase Circle, west on Street, through Somerset to Kemwood, Wisconsin Avenue to Dorset Avenue, ‘wes Dorset Avenue through Somerset to Kenwood or out ‘Comnerticut or Wisconsin Avenue to Bradley Lane end west ow Bradley Lane to Kenwood. Kennedy Drive and Chamberlin Ave. Kenwood, Md. Kenwood Office Wlsconsin 4425 A Word About the Silver Star Home 4849 Upton Street A Home in the Hills of WESTERLEIGH The New Section of Wesley Heights It is so outstandingly attractive because it incorporates features that give every Miller-built home an incomparable charm. WESTERLEIGH, and the prominent corner site, are pe- culiarly suited to the type and design—and in a naturally beautiful environment. Location is one of the most impor- tant considerations in home buying—and Miller control pro- tects every Miller community. Into the plan has been incorporated a host of new fea- tures. You will find the rooms so easy to furnish and your furnishings fitting so happily. The construction includes those characteristics which have made Miller-built homes famous. Never the shirking of a detail; never the lowering of that high standard in the slightest degree. When you consider all these very important features and contrast this home with contemporaneous offerings' you will find the price an interesting surprise: 516,950 Completely Furnished By Mayer & Company Accessories By Wesley Heights Shops Inspection hours—day and Sunday— 10 a.m. to 9 p.m, Motor out Massachusetts Avenue to Upton Street, corner of 45th. After you have visited the Silver Star \ Home drive to 3701 Fordham Road, and inspect the newest home in Spring Valley. . W.C. & A. N.MILLER Developers & Builders 1119 17th Street ~ District 4464