Evening Star Newspaper, October 9, 1937, Page 30

C—6 REAL EBTATE. THE EVENING STAR, WASHINGTON, D. C., SATURDAY, OCTOBER 9, 1937. REAL ESTATE. w'——_—''——’___———'_'L—'——“—"_————“__‘_‘‘'—"‘—-"—_"—"_———-—-__‘—"_"" 0. SAVNESLOAN ASSETS NGREAE Washington Included Among Nearly 30 States Show- ing Big Gains. Soestal Dispatch 10 The Star LO8 ANGELES, October 9.--More than half the States increased their aggregate assets in savings, building and Joan associations during the year #nded January 1, H. F. Cellarius, sec- retary-treasurer of the United States Building and Loan League, reported | to the league’s forty-fifth annual con- vention, which closed here today. He said that the District of Columbia, ©Ohio, Florida, New York, Minnesota and North Carolina out of the total | of 27 gaining States, had increases | over $5.000.000 each. Giving the first public analysis of | the financial position of the thrift and home financing business as of the first. of this yvear, Cellarius ssid that the total assets in these institutions | In the Continental United States, Hawali and Alaska were $5.625,083.652 as of January 1. There were 10.256 | different associations and they had | £.125.971 individuals as their members, | investing or borrowing | Total for United States Down, | Although 27 States increased as- mets, the total for the country was down 4.5 per cent from the previous | vear's end. This compares with & shrinkage of 8.7 per cent the year hefore. The slackening pace of the liquidating process in this field is also ween in the fact that the number of members showed a decrease of lest than a million this vear, while it was 1.320.579 the year before. For the first ime since the depres- wion, the real estate held by the as- woeiations decreased for the year end- ing 1936 by a total of $72.837.628, and was also a smaller percentage of | the total assets than it had been at | the end of 1935. Percentage waz down | to 19, as compared with 19.4 last year. Reserves now account for 108 per eent of total liabilities, and uptrend from the 105 per cent at the end of the previous vear. Total reserves were $608.€43.195 at the beginning of the vear. The safety percentage of invesi- | ments in the associations increased materially during the vear. Reporied by Cellarius at 99.84 per cent of total resources, thix compares with 99.73 per cent the previous vear. The fotal habilities involved in associations which closed their doors during 1936 were the smaliest sinee the record began to be kept in 1930, 1937 Decrease Seen. “The substantial decrease of real estate owned in 1936 ix likely to be repeated by the end of the present year,” said Cellarius. “At the same time rising rentals are causing more | and more properties to become earn- ing assets instead of drains on other sssociation income. In some cases real estate is earning a fairly sub- stantial net return on its book value alrendy “Nineteen thirty-seven is witnessing 8 definite improvement in the sav- ings, building and loan business, a more marked improvement than that in any vear since the business began to encounter serious problems in the latter part of 1930." The secrefary-treasurer's report | khowed that the associations were using $204.957.951 of advances from the Federal Home Loan Bank system #s of the end of 1936, compared with | $183.304.663 at the end of 1935. The ehart showed that the entire liability for borrowed money by these thrift and home financing institutions is now ta the Federal Home Loan Bank svstem and to no other type of leng- ing agency, NEW SUBDIVISION | Bpecial Dizpaich to The Btar. FAIRFAX, Va, October 98— Deed of dedication for a new sub- division in Fairfax County, to be | known as Evergreen Farm. has been recarded in the office of the county | clerk | ' The property is owned by Mr. and Mrs. Francis H. Fannon of Alexandria, and comprises approximately 70 acres. 1t i& located on the Richmond-Wash- ington Highway. and practically all of the lots now Jaid out front the highway. Moncure & Davis, Alexandria law | firm, prepared the deed of dedication. ' 7811 Twelfth INTEGRITY of the builder is the most importont factor in the building of homes, The ""hidden values”” in a hgme are those put in during the construc- tion by the conscientious builder, but are not visible on the surface These factors have everything to do with the eomfort and economy of living in the home. It is with a just pride of accomplishment that we offer these new when it is finished. brick Colonial homes built by H. Shepherd Pork. They offer a finely-proportioned living room, dining room and modernly equipped kitchen; three large bed rooms end two recreation room with fireplace ond boths; paneled ond plastered ottoched garage. They are heated fired by oil and selected for these homes as embodying the most satisfactory and -economical principles of this modern heating method. Combining beauty of plan ond discrimination ond experience as a ease of living, comfort and hoppiness at extremely low cost over e leng period of years. Drive out Sixteenth Street to Kalmia Road and turn right to Twelfth Streetl. This Is an Electric Kitchen Health Home Open Daily Until 9 P.M. 303 H.Smit | street; Purchases This home, at 2928 McKinley street, has been sold to Miss Mary B. Lebo of the Veterans' Dieffenbach, owner and builder. New Home Administration by George E. —Star Staff Photo. MANY CITIES FAGE HOUSING TROUBLE Lack of - Proper Enabling Legislation May Prove Block to Spending. American cities that took passage of the $526,000,000 Federal housing bill as the “green light” signal for thelr low-rent dwelling developments are in many cases sighting trouble ahead because of inadequate enabling legislation, according to the National Association of Housing Officlals. Aside from the cities in the 18 States completely lacking the necessary State housing authority legislation, 8 num- ber of the 49 municipalities with es- tablished authorities in the other 30 States are without the tax-exemption provisions which will enable them to participate in the new national hous- ing program. Absence in the housing law of spe- cific power to grant tax exemption is not an abeolute bar to participation, however, says Coleman Woodbury, executive director of the N. A. H. O. The fact that tax-exemption privilege is not mentioned in the State housing act does not necessarily prectude it. The cities may find this power given them in the State constitution. Where exemption is impossible because there is no legal provision anywhere for it, the city may be able to make direct cash contributions, There are two irrecoverable ex- penditures cities must make for mu- nicipal housing developments—their share in the subsidy and the admin- istrative budget for the housing au- thority. “Contrary to popular mis- conception,” says Mr. Woodbury, “the 10 per cent of the project cost which the Federal Government will not loan on subsidized projects does not con- stitute an additional gift from the city, but may be raised by borrowing from some other source.” A report issued today by the Na- tional Association of Housing Officials traces the development of low-rent housing legislation in the States from 1933, when the N. I. R. A. authorized the first loans and grants for slum elearance. two cities in the country believed they had sufficient power under existing Permits (Continued From Pirst Page.) ings, 1000, 1002 and 1004 Fifteenth | street southeast: to cost $12.000, Fausta Mengareni Carte, 2825 Dum- barton avenue, owner; Ronato Carte, designer; T. F. Collier, 1109 Twentieth street, builder: to erect one 3-story brick dwelling. 1602 Thirty-second eet; 1o cost $10.000. M. L. Stone. 1415 Chapin street, owner and builder; Robert K. Smith. architect: to erect one 2-story brick and cinder block dwelling. 3612 Yuma to cost $8.000. T. J. Shyrock Lumber Co.. 603 South Capitol street, owner; E. Burton Corning. architect; Skinker & Gar- rett, 1719 I street, buildera; to erect one 2-story brick warehouse, 616 Half street. southwest: to cost $10.530 George C. Heider, 1241 Monroe | street, northeast, owner; George T. Santmyers, architect: R. Peters, 1011 | Taylor street northeast, builder: to erect one 1-story brick store, 3512 Twelfth street northeast; to cost $8.000 | Charles D. Sager. 924 Fourteenth street, owner and huilder: J. D. Cobb. architect; to erect. one 2-story brick | dwelling, 2900 Bellevue terrace; to cost. $6.000 1 Ralph F. Gill, owner; D. B. Johan- nes. designer: 8. E. Snyder, 1706 Twenty-fifth street southeast, builder: 10 erect one 2-story brick and concrete black dwelling. 2912 Alabama avenue southeast: to cost $7.000 Julius Goldstein, ownes: Richard M Briscoe. designer; R. B. Behrend, 1317 F street. builder: to erect one 1-story | brick addition, 2204 Fourteenth street; 10 cost $5.500. Brightwood Construction Co.. 5946 | Georgia ave.. owner and builder; Sam Novak. designer: to erect one 2-siory brick and cinder block dwelling, 2800 | § Sixteenth place $8.000. Claude A. Killmon. 3213 Alabama aveniue southeast. owner: George T. Santmyers. architect: B. F. Kemp, Silver Spring. Md. builder: to erect one 2-story brick dwelling, 3217 Ala- bama avenue southeast: to cost $6.000. Timothy D. McCarthy, 3819 New | Hampshire avenue, owner: Louis de southeast; to cost | Ladurantaye, designer: Morrison Bros., Bethesda, Md., builders: to erect one I-story brick and concrete addition, 2108 Fourteenth street: to cost $3.500. | Creal & Turner, 4214 River road, owners and builders; L. O. Turner, designer: to erect one l-story brick and cinder biock dwelling, 4716 Elli- | cott street; owner and builder; W. B. Honey, ar- chitect; to erect one 1-story brick shed, 3619 Benning road northeast, to cost $3.000. Joseph Tessitore, 1208 Poriy-fourth place southeast, owner and builder: Evan J. Conner, desigmer: o erect one 1'3-story brick and econcrete block dwelling. 1138 Chaplin street southeast, 10 cost, $4.500. J. C. Phillips, 859 Van Buren street, owner and builder; J. M. Hallett, de- signer: to erect one 1-story frame dwelling. 5318 Belt road, to cost $3.250. Capital Wallpaper -» Paint Co., 1221 E street, owners; to make changes, Twelfth and T atreets. to cost $3,000. Julius Goldstein, 3800 Massachu- setts avenue, owner and builder; Rich- ard M. Briacoe, designer: to make re- pairs. 2204 Fourteenth street, to cost $2.000. Howard §: Goti, Colorado Building. | Street N.W. G. Smithy Company in attractive by Reynolds Air-Conditioned units, the most modern equipment, with background, these homes will give 811 15th ® St. N.W. | Sarvin, Mount Rainier, Md., builder; to cost $4.000. | ¥ Joseph Smith. 1626 Nicholson street, | owner: Gus N. Bull. designer: W. E. 1o erect one 2-story frame dwelling, | 5018 Sheriff road northeast, to cost $2.000. Meyer Ulitzsky, 4001 Gault place | northeast, owner: L. W. Giles, archi- tect; Martin Bros., 1341 Connecticut avenue, builders: 1o erect one 1-story brick and stone store, 4003 Gault place | northeast, to cost $3,000. | R. L. McGougan, 1739 L street northeast, owner and builder; Francis Deremer, designer: to erect one 1- | story frame dwelling (4 rooms), 4519 Alabama avenue southeast, to cost $3,000, | Vernon F. Duckett, 1752 P street owner: to make repairs and remodel, 1752 P street, to cost $2.000. E. A. Altman, owner: J. M. Hallett designer: National Engineering Co. Tower Building, builder: to erect one 1-story brick and cinder block office for parking lot, 636 I street, to cost 3600 Mrs. Hennen Jennings, 1910 Twenty- fourth street, owner: R. W. and J. R Bolling, builders; to erect brick and iron fence walls: 1910 Twenty-fourth | Street, to cost $1.400. W. E. Hamilton, owner, designer and builder; to erect one 1-story frame addition, 5354 Conduit road, to cost $500. Roger W. and Marie H. Fisinger. 4300 Brandywine street, owner and ouilder; A. W. Smith. designer; to erect one 2-story brick and frame addition, 4300 Brandywine streef. to cost $1,500, George W. H. Sollner. 3436 Seven- ' teenth street. owner; John .J. Stanley. designer; -Stanley & Carter, 6638 Eastern avenue, builders; to erect one 1-atory brick addition, 3436 Seven- teenth street, to cost $800. George W. H. Soliner, 3436 Seven- teenth street, owner; John J. Stanley,-, | northeast, owner; designer; Stanley & Carter, 6638 Eastern avenue. builders; to make repairs, 3436 Seventeenth street, to | cost $1,600. Mrs. C. C. Glover, 4200 Massachu- | setts avenue, owner; Frank Davis, Ar- | lington, Va., builder: construct ele- | vator hatch and make repairs, 4200 | Massachusetts avenue, to cost $1,500, | Belton Chappelle, 4304 Jay street | L. W. Giles, archi- tect; Hill Washingion, 605 Girard | street, builder; to erect one 2-story frame addition, 4304 Jay street north- | east, to cost $800. Henry M. Kunold, 7712 Georgia avenue, owner: William Crusemire, ar- | chitect: John Gant, 7512 Georgia ave- nue, builder: to make repairs, 7716 | Georgia avenue, to cost 00 ' Henry I Sweeney, 3011 Channing | street northeast, owner; William E. Thomas, 3539 Thirtieth street north- east, builder: and build new rear dormer, 3011 Chan- ning street northeast, to cost $1,000. J. Raymond Currey, 5313 Wiscon- sin avenue, owner; to erect concrete | retaining wall, 5313 Wisconsin avenue, to cost $1,000. James A. Dausuel, 721 Forty-eighth | street northeast, owner and builder; L. W. Giles, architect; to make re- pairs, 721 Forty-eighth street north- | east, to cost $600. Miss L. D. Shackelford, 3125 Mili- tary road, owner; O. F. Smith, 3339 Military road, designer and builder; to erect. one 1-story frame addition, 3125 Military road, to cost $800. 1604 32nd St. N.W. GEORGETOW Facing Old Tndor Place 9 Rooms, 3'2 Baths, 11 Closets nocter hedroo 2 he avatory, maids room and bath, wells painted, ok wool a- tior rred wa opper fln ane dowsspoiie eight sr complete bell siste bt men ve o0l 6 hor range, Ceneral e 6 figeroior Garwaod Air Conditioning Fireplace, Garden and Terrace $17,500 Owner Renato Corte Designer Decatur 2770 or Your Broker tive. House only 2 yeors old floor recreation room finished heat. stripped. ATIVE . To Rearh: East Rrookrile Road Drive out Connectient Wnodhine—rturn ~ rioht two dining reoms each have circular boy. Completely weather-proofed Turn left one Bock 1o Fost Leland Street. then r1oht one block tn proverty. ond in perfect condition. in painted Celotex. inside ond out. Rock wool 5520 Av Avenue o hlocks tn Five bed rooms, 3 baths. Knotty pine paneled library with tile lavatory 423 EAST LELAND STREET, CHEVY CHASE, MD. In Beautiful Rollingwood OWNER LEAVING WASHINGTON—WILL SACRIFICE This distinquished home is available ot a price $2,500 under cost, as immediate sale is impera- Living_and Third Basement has maid’s room and tiled bath. Oil insulated. Metol wenther- Beoutiful fenced lot 75x250 ft., artistically landscaped. IMMEDIATE SALE IS IMPER- Don’t delay your inspection. OPEN TODAY AND SUNDAY Fxelusive Agent Built by Dunigan—Built Righ Built for Lasting Comfort and LASTING VALLGE . .. $9,930 Exhibit Home 40 Hamilfon St. N.W. Open Daily—Sunday Furnished by Hutchison's Drapes by Ligon 7 Rooms 2 & 3 Baths Over 27 years of building experience and responsi- bility have been incorpo- rated into these homes in one of the most highly elevated sections of the Some of the many features—Extra large club room (heated and paneled), detached garage, cedar-lined closets, oak floors, hardwood trim, Colonial brass fixtures, large airy cellar, fully screened, weather-stripped, caulked and insulated. Automatic Gas Heat. Double laundry troy and servant’s toilet and coat closet with full-length mirror. Wrought-iron rails on stairs, new type radiators (narrower to save space). Large, beoutifully equipped kitchen. Deep lot to paved alley. DRIVE OUT NEW HAMPSHIRE AVE., TURN RIGHT AT HAMILTON ST. towrtigs. D. J. DUNIGAN, Inc. Nat. 1265 At that time only one or | enlarge front dormer | Iaws and charter provisions to carry out housing projects. Over the five- year period since, 30 States, Hawall and Puerto Rico have passed housing | suthority laws and supplementary legisiation. Three of the State laws, however, are applicable only to one city in the State—in Michigan to De- troit, in Texas to 8an Antonio and in Wisconsin to Milwaukee, All-of the 30 States except Rhode Island ha anted the right of emi- nent domain to housing authoritles And Rhode Island has authorized | cities to condemn for authorities. Nineteen State housing enabling acts specifically provide for the tax-exemp- tion privilege. Ancient Greeks thought ducks | hatched from barnacles. | Riverdale, Md. 508 Lincoln Ave. A real home; room and % porches, also sun attic large » lily pool. 8 room 100! Sacrifice. Owner, Hyattsville 251 Model Homes romplesely furnished for your incpection. See them today. 5 and 6 reome. * Unnsnal all-hrick and masonry 1400 HoMy Street A truly charming residence just completed in select “SBhepherd Park.” occupying & lovely corner site. Quality construetion throughout! Four bed rooms, lavatory on main fioor, recreation room. 2-car attached garage. The latest in kitchen equipment. Worthy of thorough inspection! Open Sat., Sun. and Daily Will Consider Trade .EY BUCHANAN, Readltor 1732 K Street—MEtro, 1143 J. WES “TlFi. 5498 Down—$39 Monthly e e Buys One of These Luxurious English Type Homes in Highly Restricled, Residential Development. con- struction with all slate roof and steel easement windows. * Hardwood f'oors throughout. planned rooms with distinctive electric fixtures % Bathrooms fully tiled in brilliant eolors. nally available anly Mirrored medicine Chromivm fixtures in $10.000.00 homes. cabinet % Modern Domestic Science R far peanis whe with e 1 Flectric Kitchen with heavy steel eabinets and electric ranges. % Poured concrete basement with central- ized heating avstem. * Automatic oil hurning air eonditioner supplied in many homes. * Onlv 10% down payment required. Bal- IMJERY ance f¢ paid like rent in sums far less than you would pay for rent of a similar apartment TO REACH—Drive sut to 15th "o Bes Road just aver o Kenilworth Street Car M Btreste N T River direet 1o Fontinme o ke 340 Strest and Benning Read N. E. Hudson Supply and Equipment Co. announce the moving of its new offices and showrooms to 1727 Penn. Ave. N.W. W E INVITE your inspection of an unusual and elaborate display of modern building materials and equipment. Here, prospective home builders and contractors will find displayed nearly every type of standard building material together with the newest scientific developments in building products, insulating, and accoustical treatment. Architectural skill and expert craftsmenship have been combined to make this showing both educational end helpful to those who plan to build or remodel their home or office. Ll L 1727 PENN. AVE. NW. an DI .1070 Parking for Our Patrons at Rear of Building.