Evening star. [volume], August 02, 1930, Page B-1, Image 13

About Evening star. [volume] (Washington, D.C.) 1854-1972

Image provided by: Library of Congress, Washington, DC

                
REAL ESTATE
Home-Owning and Building Section for Washington and Suburbs ;
HOOVER LAUDS SERVICE
OF BUILDING AND LOAN
President Tells Association Convention
Employment Is Stimulated by Use of
Funds Put Into Home Construction.
THE service of building and loan associations is of special impor
tance at this time as a means of maintaining and increasing
employment by stimulating use of funds for home building,
President Hoover stated this week in a message of greeting to
the thirty-eighth annual convention of the United States Building
and Loan League, held at Grand Rapids, Mich.
The President’s message was read at a general session, during
which officials of the league reported that building and loan associa
tions, important factors in the home financing field, in spite of the
business depression of the past year increased their assets by nearly
$700,000,000. This was declared to be a good omen for the future.
District Shows Good Increase.
The District of Columbia, with 24 associations, having a member
ship totaling 72.043, showed an increase of $5,045,768 in assets and
3.500 in membership during the past year H F. Cellarius, league
secretary-treasurer, reported. At the end of the year assets totaled
$68,409,718.
President Hoover in his message
to the convention stated:
“The provision of funds for
building of homes is one of the
most important functions of our
economic machinery, and, in turn,
is one of the most stabilizing in
fluences in our economic life.
The building and loan associa- 1
tions have for many years played
a part of major importance in this
vital work, and their service is
especially important now, for one
of the most potent influences in
maintaining and increasing em
ployment would be the stimula
tion of the use of the funds in
this field.”
Making his yearly report before the
convention, Cellarius described the i
growth of this business during a “bad
year” and said it was significant that
all building and loan associations were
able to pay the heavy withdrawals that
followed the stock mrket crash of last
Fall.
Association members that number
more than 12,000.000 people, with sav
ings of more than $8,500,000,000, in
vest these funds in building and loan
associations, who relend these large
sums exclusively for home-buying pur
poses. The associations are under
State supervision in most States.
Finds Business “Picking Up.”
Although Mr. Cellarius reported a
lessened demand for mortgage money
for the second quarter of 1930, the
league treasurer stated that business
was gradually “picking up” throughout
the country, and referred with pride to
the $700,000,000 the public was able to
lav by in 1829.
Thus he figures that the average
•mount held by building and loan
members increased $49.71 last year and
that $717.94 is the average amount now
held by each of the 12,000.000 members.
"To us this means that everything
did not vanish last Fall.” said Cellarius.
“People who had withdrawn their sav
ings from local associations have re
established their accounts. New ac
counts have been opened. We
assets today of $8,695,154,220. an in
crease of $679,119,893. or a growth of
nearly 8.5 per cent in the bad year
of 1929.
“During the last half of 1929 a spec
ulative mania ran riot among all class
es of people. It culminated in one of
the greatest slumps in stock prices ever
witnessed by our people. A large vol
ume of savings of our people was with
drawn from building and loan associa
tions and other financial institutions
and poured into the stock market, it
is needless to recall with what disas
trous results.
"About the middle of December, how
ever, there was a notable change in
conditions. The withdrawal demand
decreased considerably, moneys began
to flow back into the associations in
better volume. In the first quarter of
(Continued on Second Page.)
TODAY’S
BEST BUY
1423 Whittier St. N.W.
(Half Block off 16th St.)
Owner is out of town and
has placed a price on this prop
erty that commands a quick
sale.
In new house condition.
Oil burner, draperies and com
plete equipment.
INSPECT SUNDAY
OPEN 10 UNTIL 6
I
I 1418 Eye St. N.W. Net’l 5904
1^' rloaiflnrf g' 1 of I'^person* 1 '^ person* ':
have told us the features :
they want in homes — :
You get them all at
1708 C St. N.E. I
I, For a Reasonable Price
and on Convenient Terms
N° ,e
| Seven large rooms, natural
: chestnut trim, new paper !
:j patterns, artistic lighting :
:i fixtures, abundant closet
: $ space, tiled baths with
; showers, completely equip- ::
i ped kitchens, electric re
frigerators, basement toilets,
built-in garages, front and :
rear porches, paved alleys.
This is a restricted-to
il; white community. Drive
1 north from 17th and East
Capitol Streets.
Robert W. Savage
717 Union Trust Bldg.
Nat’l 6799
Or Your Brohar
WASHINGTON, D. C.,
I
ROCKINGHAM COUNTY
WINS HOMES AWARD
Reconditioning of Three-Room Rest
Center Features
Contest.
RICHMOND, Va., August 2 (A 5 ). —
Rockingham County, Va., has been se
lected for a special award in the 1930
better homes campaign conducted from
Washington, D. C., in which more than
850 counties in all parts of the United
States took part.
The awards were made on the basis
of quality and educational value of
the programs, freedom from commer
cial features, appropriateness to the
community, comprehensiveness, com
munity interest and co-operation.
The principal feature of the Rock
ingham County campaign was the re
conditioning of a three-room rest cen
ter, which is to be maintained through
out the year as a permanent center of
home information.
The work of reconditioning and re
finishing furniture was done by wom
en of the county, under the direction
of Mrs. Mary F. Clay tor of Harrison
burg, who, with Mrs. O. D. Garber of
Bridgewater, served as chairman of the
county Better Homes Committee. Lec
ture programs and exhibits were held
in various parts of the county.
. ■ ■ • ■ ' ■
Albert Blum Appointed.
Albert Blum, a member of the board
of managers of the Silk Association of
America, has been designated by the
i Presiflent as a delegate from the United
States to the Third Congress of Deco
rative Arts, to be held in Antwerp the
latter part of this month.
wVv A / Final Building at \
Jill / TIRDBM GARDENS \ g|f]
today the last building to be erected in Tilden Gardens will
D be opened for public inspection. It marks the conclusion, one year ahead
of schedule, of a $3,000,000 development that has been pronounced one of the
finest and most successful operations ever projected in Washington. Hi "|ri
■ .a The new structure contains sixty apartment homes—forty of three and
four rooms and bath, ten of five rooms and bath, and ten of seven rooms and
two baths. Each of the smaller apartments has two exposures, and the la_rger &ZMST
ones thrcc » assuring cross ventilation in every room. Prices range from S7,OCX)
■fVyS to $18,500, with a moderate cash payment and monthly payments as low as ft*W \
$42 plus the maintenance charge.
SThe six buildings in Tilden Gardens (210 homes) occupy one and one-half MA \t
acres of the five-acre tract of high wooded land, the balance of three and |Pv. ,*
one-half acres being devoted to one of the most beautiful landscaped gardens gS 1
in this section of the country.
Surrounded by Connecticut Avenue, Tilden and Sedgwick Streets, with Ps y H
the grounds of the U. S. Bureau of Standards to the north and a proposed
Government Park to the south, residents of Tilden Gardens enjoy secluded
quiet, ample fresh air and sunlight and safety from undesirable adjacent
The Club Building, one of the group of six, contains a splendid Dining
Room, hotel accommodations for guests, a spacious lounge for entertaining, Wllnff im
and many other desirable features. Garage space is provided in the basements
This newest and last building is your final opportunity to secure a co- pLJl fjm
operative apartment home in Washington’s unique and outstanding Garden
Development. Os the sixty apartments, more tharutwenty per cent are already p| r —* J|
May we suggest, therefore, that you visit Tilden Gardens at your earliest 4
convenience, while each size, arrangement and style of apartment home is
HU IIMjT.H GARDENS df
A Warren Development |jL\£A
Connecticut Avenue at Sedgwick Street
|gj GO!
REALTORS OF U.S.
ASK TAX REFORMS
State and Federal Changes
Urged at Recent Conven
tion in Toronto.
Two demands were made upon State
and Federal Governments for reforms
in property taxation by the National
Association of Real Estate Boards at
the recent Toronto meeting.
The convention adopted one resolu
tion asking that the general property
tax be abolished in the various States
and a second resolution requesting that
the Federal revenue provision as to cap
ital gains be changed so that the rate
will be reduced to half of the present
12 > 2 per cent.
The preamble to the resolution asking
the abolition of the general property tax
declares that the financial burden of
State and local governments throughout
the United States falls primarily upon
property and mainly upon real estate I
‘ and declares the tax, irrespective of the
type of administration system under
which it operates, to be inequitable as
between territorial jurisdiction under
the authority imposing the tax as well
as between types of properties which it
attempts to tax. The statement like
wise terms the general property tax in
equitable between individuals in rela
; tion to the amount of property owned
by them. The preamble further declares
that State and local governments have
failed to perfect this system of taxa
tion so that it operates fairly.
The resolution itself urges the aban
donment of the tax as a major source
of revenue for State and local gov
ernments and the substitution of a rev
enue source which "will have the sup
port of all interested in equitable tax
ation and in the establishment of a tax
system more nearly in accord with mod
ern needs.”
The resolution on the capital gains
tax asks that the rate to be applied to
capital gains and capital losses should
be kept separate and distinct from the
rates to be applied to ordinary income.
It also requests that the rate on capital
gains and allowance for losses should
decrease as the number of years the
capital assets is held increases, until
the fifteenth year, after which there
should be no capital gain tax and capi
tal losses should not be deductible. The
resolution further favored an amend
ment to the capital gain section of the
income tax law to provide that profit
on the sale of realty should be held to
be capital gain whenever property has
been held for more than three years by
the taxpayer, regardless of the business
of the seller or the purpose for which he
acquired the property.
Man Sues for Divorce.
Absolute divorce is asked in a suit
filed by J. Frank Biddlnger, 1217 In
graham street, against Jeanette S. Bid
dinger, 1100 block L street. They W’ere
married at Alexandria, Va„ July 4,
1929, and separated last Saturday. A
co-respondent is named. Attorney
Charles P. Henry appears for the hus
band.
%xm\xm J£kf.
>■—V. x- fin iuwmt Mowmri nmn f*V V/
| K STREET APARTMENT HOUSE SOLD |
Property at 1757 K street, which has been sold by Dr. Ralph L. Morrison
to a local investor, ivhose name is not disclosed. The transaction was reported
by Story & Co. The property has an assessed value of $202,100.
FRATERNITY HOUSE
PERMIT IS ISSUED
Alpha Lambda Rho A umni As o
ciation Flans $25,000
Building.
By a Staff Correspondent of The Star.
UPPER MARLBORO. Md„ August 2.
—Construction of another new frater
nity house in College Park was author
ized recently by the Prince Georges
County Commissioners. Permits were
issued by the commissioners for 14
other structures, to cost $52,569. .
The new fraternity house is to be
built by the People’s Lumber & Supply
Co. for Alpha Lambda Rho Alumni
Association of the University of Mary
land, Inc. The cost of the house is
estimated at $25,000.
Other permits issued include the fol
lowing: Thomas Anglin, owner; Walter
C. Johnson, builder; $6,500 dwelling,
Hyatts villc.
MORRIS BURKA LEASES
11TH STREET QUARTERS
Five-Year Proposition Announced
by Boss & Phelps for Arthur
Borden, Property Owner.
Business quarters on the first floor of
723 Eleventh street have been leased to
Morris Burka for a term of five years
from Arthur G. Borden, owner, it was
announced today by Boss & Phelps.
The corner store at 741 Twelfth
street has been leased to the New York
Sandwich Shoppe for a term of five
years, it also is reported by the realty
concern.
Two Rooms, Kitchen
and Porch, $37.50
The Wilson
412 First Slreet S.E.
r SATUEDAY, 'AUGUST 2, 1930.
APARTMENT HOUSE
ON K STREET SOLD
Local Investor Purchases
Seven-Story Brick Build
ing of 28 Units.
The seven-story brick apartment
heuse at 1757 K street has been pur
chased by a local investor, whose name
is not disclosed, from Dr. Ralph L.
Morrison, accordirg to an announce
ment today by Story «fc Co., which
handled the transaction.
The building contains 28 apart
ment units of large size. It has a
frontage of 60 feet and a depth of 100
feet.
The property has a current assessed
value of $202,100. The building is as
sessed at $106,900 and the land at $95,-
200. The consideration paid for the
property just closed is not revealed.
— »
Nearly $20,000,000 has been advanced
recently by the Japanese government
to help silk producers.
I
i
I
f "" 1 ' — - ri Tr Come to
| ||| Shepherd Park
Furnishings by
D. S. Pool ’
This Is Our Latest Furnished Home in
Shepherd Park—a Home Community
ALREADY M-A-D-E
IN this City . . . wherever homes and home fur
nishings are discussed, you’ll hear praise for
Shepherd Park and Shepherd Park’s Furnished
Homes . . . for these unique events already have
attracted more than 250,000 visitor*. This home,
completely furnished by D. S. Pool, is on display.
It is different ... in design, floor plan, finish, fur
nishings and in price. Never before has there
been such an opportunity to see the new, the un
usual, the beautiful ... to make comparisons and
to study values.
Over 140 individual de
tached homes now comprise
this delightful development.
Directioni—Drive out ltith St.
to Alatka Ave. to l*th St., turn
left 3 block* to home.
oCQffareumngerHr Sons
Investment Bldg. Builders—Realtors National 2040
][ 7202 Meadow Lane, Chevy Chase |¥
X T HE : ourth house to be ready in Meadowbrook (the first three
If were sold immediately on or prior to completion) is the de- XI
If lightful English type brick and white weatherboard home shown i l
If above. The spacious lot is completely sodded and beautifully Wj
] | landscaped, with a charming small formal garden in the rear yard. Ml
, f On the first floor are a big living room, dining room, kitchen, Iwj -
If pantry; on the second floor, three large bed rooms, two baths; hi
If floored attic above; also a built-in 2-car garage, and wide covered y
H side porch. Walls are insulated with Celotex; there are General |V
If Electric Refrigerator, built-in kitchen cabinets, Sanitas (wash- Pf
1 j. able) walls, and other features. ¥i
¥ W
w Insect this home at your (irlint convenience. Open week- L*J
11 day* from 1 to 9 p.m. and all day Sunday. Drive out Con- V
If nectieut Avenue to Columbia Country Club, turn west (left) A
X on Betbesda-Rllver Sprint Hichwar. one block to property. ¥1
11 Phone Wleeoneln 1104.
H / Jf\ejzelowbrook J| i
a WARREN DEVELOPMENT 1
' j-MMI ‘ IN CHEVY CHASE e v e e •
D. C. BUILDING PROJECTS !
FOR WEEK HIT $570,000
Largest Item in Total of New Work Allowed Is
Construction of Five-Story Storage
t
and Manufacturing Plant.
«
PRIVATE building projects for the District having a total cost
estimated at $570,000 were approved during the past week by
Col. John W. Oehmann, building inspector.
The largest item in the new list of work was a permit for
the construction of a five-story concrete and brick manufacturing
and storage plant at 910 Franklin street northeast for the Stone
Straw Co. at an estimated cost of $203,000.
Julius Garfinckel obtained permit for the construction of a two*
story stone, brick and concrete store building to be erected at 616-
622 Fourteenth street, near the new home of Julius Garfinckel &
Co. The cost is estimated at $75,000.
D. J. Dunnigan, Inc., obtained j
permits for the construction of 11;
dwellings in the 5500 block of
Fourth street, costing $66,000, and i
Cooley Bros, revealed plans for
erection of eight dwellings in the
3800 block of T street at a cost
of $60,000.
Permits issued include the following:
Stone Straw Co., owners: L. H.
Harris, designer; Boyle-Robertson, Inc.,
BUILDING NEWS
| builders: to erect one 5-story concrete
i and brick manufacturing and storage
building. 910 Franklin street northeast
(pt. lot 800, square 3840); to cost
$203,000.
Julius Garfinckel, owner; Starrett fz
Van Vleck. architects; Charles H.
Tompkins Co., builders; to erect one
2-story stone, brick, concrete, frame,
steel store, 616 to 622 14th street (lots
14 and IJL square 224): to cost $75.000.
(Continued on Third Page.>
B-1