Evening Star Newspaper, July 31, 1937, Page 26

C—4 F.H.A NOWPAYS MOST EXPENSES McDonald Says That All In- suring Offices Will Be Self-Sustaining. The Federal Housing Administra- tion is now paying the major portion of its own expenses. Eventually it will be entirely on a self-sustaining basis and will operate as the national housing act originally contemplated, without any cost to the Government. Stewart McDonald, Federal housing administrator, announced today that during the current fiscal year, which began on July 1, all expenses of the administration’s 67 insuring offices in the fleld will be paid from income. This income is derived chiefly from ap- praisal fees and premium payments on home mortgages insured under title II of the national housing act, The expenses of the Federal Housing Administration fleld service for the current fiscal year will be approxi- mately $5.000.000. it is estimated. The revenue of the Federal Housing Ad- ministration now amounts to some- thing over $6.000.000 annually, and will increase substantially as the volume of mortgage insurance expands. Premium paying mortgages as of July 17 total $618.753.432, and are being recorded in Washington at the rate of $9.000,000 a week. Thus after the pavment of the ex- penses of the insuring offices there will be a substantial surplus which will be credited to the mutual mortgage in- surance fund now held by the Treas- ury. When originally established, this fund was $10.000,000. but now exceeds $19,000,000 and outstanding against it less than $100,000 debentures issued for foreclosed mortgages. It should be remembemed, however, that as a contra-asset against these debentures are the 14 properties which are held by the administration and it has been | the practice to call debentures as these | are disposed of. | The low foreclosure record of the | Federal Housing Administration is at- tested by the fact that only 30 prop- | erties on which mortgages have been | issued have been foreclosed and turned over to the administration by lending institutions. With this experience the adequacy | of the mutual mortgage insurance fund | has been deer.ed sufficient for present operating purposes plus the normal | rate of increase which will accrue over | and above the operating expenses of the insuring offices. N Costs (Continued From First Page) Cincinnati, San Fran- i d in the report is that increased costs have hit the building of small homes | est. “The prospective builder of a higher-priced home is affected more or less temporarilv—he either ra | more money eventually or decides to take less house for his money,” states one observer quoted in the report. “But the necessary boost of $500 to | $800 in the price of a small home has the effect of putting out of the prospect class numerous families of modest income who were formerly potential buyers. Contractors in many localities report that it s aiready | difficult to build even a small modern house for under $5,000.” | Many speculative builders are out | of the market, according to the report, | having canceled earlier plans for an | active bui! contract in July, d diate futurs take new construction on plus basis, with the Tisk of wage and material boosts. Many Jobs Lost. Architects and contractors report | the loss of many jobs previously con- templated. when cost figures are pre- eented. “Out of 33 residential jobs figured in the last 90 days, only three are going ahead,” is a typical eomment from a Minneapolis building eontractor. In 18 of the 83 cities reporting in the survey, however, home building has been affected little or none by the rise in costs. One of the bright spots of the situation is that considerable prospective new construction money has been diverted into the purchase and improvement of older houses; the floating supply of distress property left by the depression has been practi- cally cleaned up in many cities. Some observers point out that sheer | pressure of housing needs will event- | ually force resumption of building | operations, regardless of higher costs. | “Builders here estimate that fully 50 per cent of contemplated new con- struction has been held up, and many plans to build have been abandoned.” declares a Seattle loan and appraisal company after checking with various other sources. “Many builders now operating have informed our loan solicitors that they expect to cease building. at least temporarly, after they have completed the houses now under construction. However, pressure for residential space will continue to increase; this points to resumption of building eventually, irrespective of increased costs.” REAL ESTATE. Bowie of the H. L. Rust Co. Woodland Drive Dwelling This home at 2919 Woodland drive has been Purchased en sold to an undisclosed purchaser by G. Calvert The house was built on contract by W. C. & A. N. Miller. —Star Staff Photo. BY LAWRENCE CROLIUS. F YOU have been doing a bit of | sweltering in the Summer heat | l and have been bewailing the fact | that you can't afford an elaborate air-conditioning system or small room cooler, you should look or two with which to keep yourself | comfortable. You have more than likely seen the new fans now on the market, which | just barely resemble their inefficient | predecessors. They have blades as- | sembled on an electric motor shaft, & | $19,500 7325 16th Street New Northwest home in most select section of “Upper Six- teenth.” Center - entrance plan_Colonial brick, offer- ing three bedrooms and two m, o1l heat and detached brick rage for two cars. A won- ome—and a wonder- Terms Arranged Open Sunday and Daily J. Wesley Buchanan, Inc. REALTOR 916 15th St. MEtro. Woodridge Near the Taft Junior Higch and Burroughs Elementary School, just oft South Dakota Avenue. 3903 20th St. N.E. 7 Rms.—2-Car Garage Lot 40x107 A charming detached home with hot-water heat. electricity, hard- wood floors, screens, etc. OPEN SUNDAY $7’950 2toTPM. ° New Detached Brick Chevy Chase, D. C. 3621 Ingomar Pl. Artistically and signed, | Five 1 iz roo furred. ~ insuiated. screened = and weather-stripped. Price only $8.950. Open Daily and Sunday L. T. Gravatte 729 15th NA. 0753 conveniently de- rge rooms (2 full- bath, gas furnace, Realtor OUTSTANDING NEW BRICK Other homes in this popular group priced up to $9,950. (Some semi- detached.) Built by W. G. 9,250 3907 W St. N.W. (GLOVER PARK) The most modern new home on today's market. Six large rooms, 2 baths, den on first floor, ultramodern kitchen with electric refrigeration, recre- ation room, gas heat, rock wool insulation, built-in garage. Drive out Wisconsin Avenue to Calvert Street, turn to 39th and south to W Street. Irvin and Son Phillips & Canby, Inc. Me. 4600 guard around the outside, and usual accessories; but you will notice that the blades are great sweeping affairs which don't look much like the | | are made to overlap one another and cient and much quieter operating de- vice, Take a quick look at the shape of these blades and you will notice that they tend to dig into the air in back of them and give it a smooth push forward with a wide area of metal. This action results in & larger volume of air being pushed out than was formerly put in circulation by a much larger fan. You will also notice that the blades | present & smooth, unbroken area so | there 15 no chance for a rapidly re- | volving blade to hack into the air even a the old types. | The designers didn't make them in | so into the matter of a new electric fan | this shape Just to make them look | fashioned done to make your fan & more effi-' 1012 15th St. N.W, fans objectionable }mnro streamlined or just to use up | caused by the violent method in w {larger quantities of metal. Tt /////:‘ WILL OPEN SUNDAY Franklin Manor Beach Only twenty-seven miles f{rom Wash- ington and at a point where Chesapeake Bay is fourte There 15 shore fron finished sh was built hesapeake Bay A magnificent v ec! bulk 150 ft by walk end on an and telephone on the pro t price, S150 each. Con 10 each e build and finance vour cottage large or small for a small down pavment and at easy monthly terms DON'T MISS THESE BARGAINS. Franklin Manor Beach Co. 600 F St. N.W., or on Property NA. 1828 lore Beautiful Bath FOR YOUR HOME . THE LATEST IN MODERN COLORS AND STYLES. IT MEANS SO MUCH AND IT COSTS 50 . LITTLE. NO MONEY DOWN For Estimates . Just Phone 50 ft. by 98 ft. at SUPERIOR CONST. CORP. 1331 G St. N. W. ME® 2495 About the last chance to get one of these smart new Homes on Manor Place—Observatory Place In Picturesque Glover Park Hills They are ideal homes in on ideal location. An exclusive neighborhood with community stores, schools, churches, etc., within easy reach but away from their disturbing elements. Quick bus Moss Recreation Rooms. Exhibit home—3710 'Manor Place—furnished by W. & J. Sloane Prices begin at 37,950 A good $1,000 under value Very large rooms. Two beautiful baths. Come and see them—inspect critically From Massachusetts Avenue turn south on Wisconsin Avenue to 37th Street ond ot Manor Place turn west to the homes. MOSSaer Realtor Tower Bldg. MEtro. 1776 Evenings end Bunday. SH. 4517 Open for inspection every day and Sunday, and telk with us about terms. |and cause a great commotion doing Most of the noise that made old- | was | h| was | the large. poorly designed blades beat | on the air and threw it out into the room. Now a gentle shove is more the vogue and you can hardly hear the devices in operation. Another advance has been made which makes us wonder why it wasn't thought of or done long ago. We refer to the use of a large pedestal arrangement to put the fan up out of a direct line with the poor people seeking relief from the heat. These pedestals add very little to the cost of the fan, but add a tremendous amount to their maneuverability. You don't have to worry about the children getting themselves cut into stall bits, because the fan is up out of harm's way, and then again you don't have to disturb furniture or decorations. The chromium-plated tubing which constitutes the fan stand is attractive and is adjustable for from about 4 to 7 feet from the floor. In the top- notch position you will be able to relax near the fan and have a pleas- ant circulation of air about you with- out the danger or discomfort of & direct blast. 'I‘HAT space between the bathtub and the wall is one of the most difficult spots to make watertight. We aren't referring to the space exist- ing between old-fashioned bathtubs and walls, of course, but more to the supposedly flush, built-in kind. If you | have a shower installed over a tub of that sort the chances are that you have had trouble with water leaking THE EVENING STAR, WASHINGTON, D. C., SATURDAY, JULY 31, 1937. down through the floor onto the heads of sufferers below. A chromium-plated molding can now be installed in that difficult spot which will put an end, once and for all, to the leak problem. It comes in non-tarnishing aluminum and can be put in place by almost anybody who can handle a small saw long enough to cut off the required lengths. For the ccrners you use special end pieces and you are sure of a smooth, professional-looking job. The installation consists of un ap- plication of a waterproof cement in the crack, then the placing of the aluminum molding around the com- plete outside edge of the tub, thereby entirely concealing the crack and making & bright, clean-looking trim for the fixture. Aviation stocks are popular among investors of England this year. Builders One of the best six-story apart- ment sites, on grade, now avail- able. 140x150 ft., north and west of 15th St. and Florida Ave. n.w. Price Less than $2 per foot [SHANNON & LUCHS) 1505 H §t. N.W. Phone NA. 2315 BRADLEY HILLS SECTION L 5906 WILSON LANE, BETHESDA, MD. REAL VALUE AT $Q Q50 HIS new center-hall brick Colonial residence we believe to be one of the best home values today. UST completed—three delightful bedrooms—two tiled baths— built-in gorage—model kitchen—Ilarge lot—paneled recrea- tion room with fireplace—automatic heot—weather-stripped— insulated. “Carefree Comfort with Modern Gas Appliances” DO NOT FAIL TO SEE THIS TODAY To reach: Thru Bel to Wilson Lane Boulerard, then EDW. H. JONES, & CO., Inc. 5520 Conn. Ave. Exclusive Agents Cleveland 2300 —lett on 010 Gecroetown Foad t and continue ccross Bradley k to properiy. 1201 One of @ new group of a fine of KALMIA RD. N.W. h-b e corner offers ke your home in this corvenient Incation Entering a center hall with graceful sta the first floor contains large i room, dining room, bright kitchen and lave- tory. On the second floor are three bed rooms and two bat open staircase to attic, dows in the tion room with ceramic tiie flocr. Prices in this group start ot $ ELECTRIC KITCHEN HEALTH HOME TO REACH: Drire out 1611 Street tn Kalmia Road. right to 12th Street. OPEN DAILY UNTIL 9 PM. H.G.Smithy Co. NA. 5904 REALTORS—BUILDERS 811 15th St. N.W. t homes, this desi There are three w Charming Old Eng]ish Typ_é Stone and Brick Home rne 4919 19th St. North, Waverly Hills Just Completed $ ]_ 1 ,500 In Nearby Virginia Two master bed rooms, bath and shower on second floor. First floor contains large living room, dining room, kitchen, breakfast nook, bed room, bath and shower. In the basement are built-in garage, recreation room, commode, lavatory and shower. It is insu- lated with rock wool and equipped with Chrysler air-conditioning and heating unit. Located in a real neighborhood on a lot with 75 feet of frontage and plenty of shade, the house is near school and bus. DICK BASSETT Walnut 8627 TO REACH: Go out Lee Highway to trafic light at Glebe Road, turn left to North 19th Street, lejt to homes. REAL ESTATE. An Unusual New Stone and Brick Colonial in Beautiful Woodside, Md. HIS center hall home with its 6 unusually large rooms fea- tures dining room with bay window and seat, spacious ultra modern kitchen, dining alcove, daylight basement with lavatory, 3 bed rooms, 2 baths (the master suite having its own private bath), an abundance of closet space, in- sulated attic over entire house, and attached garage. The house has an automatic oil heating unit, with Summer and Winter hot water hook-up, copper gutters, screens and downspouts and is well placed on a rolling, well land- scaped corner lot. NO STREET ASSESSMENTS OWNER ON PREMISES. OPEN DAILY & SUNDAY 1100 GARFIELD ST. 313,750 2 hiocks frafe Garfleld St. OUTSTANDING NEW ENGLISH BRICK HOMES i"n GLOVER PA Other homes ranging from $8,950 to $10,350 (Drive Out Now) e Plix miodern Out Wi Are new Calvert St., Ceivert St Pl Touth to 29tk PL Open Todoy & Daily nome in this o 2430 Built-in Garage Recreation Room Beautiful Lawns Finest Workmanship Modern Gos Appliances Bryont Air Conditicning Six and Seven Rooms Two Tile Baths Two Fireplaces Three and Four Bedrooms B. H. GRUVER 816 Investment Bldg. Owner and Builder or Your Own Broker Tastefully Furnished by Hilda M. Miller L] ] Sample House is @ [ [J Na. 1737 v R i LY HERE are excellent reasons why so many discriminating people are building their homes in Kenwood today. If you contemplate either buying or building a new home, you owe it to yourself to learn what these reasons are. WITHOUT any obligation to yourself let us show you the new homes now available in Kenwood. Or, if you wish to build, let us show you a beautifuk homesite for the home of your dreams. Exhibit Home, 330 Brookside Drive Open Daily 10 to 6; Sunday 10 to 9 (@1 ~Cham[)er]in Deve[oPme& Co. Kenwood Office: Kennedy Drive and Chamberlin Ave. Wisconsin 4425 To reach Kenwood, drive out Connecticut Avenue to Chevy Chase Circle, west on Grafton Street, through Somerset to Kenwood, or out Wisconsin Avenue to Dorset Avenue, west on Dorset Avenue through Somerset to Kenwood, or out Connecticut or Wisconsin Avenue to Bradley Lane and west on Bradley Lane to Kenwood.