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REAL ESTATE Home-Owning and Building Section for Washington and Suburbs U. S. OFFICIALS WILL HELP CITIZENS TO BUY HOMES % Co-Ordinated Efforts of Federal and Business Leaders Will Stimulate Building and Owning of Houses, Says Miller. CO-ORDINATED efforts by high Government officials and lead prs of a score of major national business associations set in motion by President Hoover to aid the average citizen to buy Thome undoubtedly will do much to stimulate home building * nd ThiTwas^hTconviction expressed today by William C. Miller, form™ president of the local Real Estate Board, who now is a direc lormer presiae v A _ sociation Q f Real Estate Boards, one of the £ r di£ SpomtedTo the decUne ln tlx P-cent *6e the Srt haW hU firm « chairman * r ur)rn«Thiiiiriprs and subdividers’ division of the national real- ? f th Liv nnS oi that the Hoover commission will attack the mator Droblems 1 of the home-building industry, seeking to make it Ser. more advantageous tor the average Amer lean to own his own home. . The .commission will deal with the * Whole broad subject of home con struction and home buying, including matters of finance, design, equipment, city planning and transportation. Various national bodies already have been at work on the probjem and these forces will be combined under the guidance of the commission. Lament Heads Plan Group. Secretary of Commerce Lamont will head the planning committee and John M. Gries. chief of the Division of Building and Housing °f De partment of Commerce, will be execu tive secretary. The heads of the following organiza tions have been named initial mem bers of the commission: American Civic Association, American Farm Bureau Federation, American Federa- i tion of Labor. American Home Eco nomics Association. American Institute of Architects, Associated General Contractors. Association of Life In turance Presidents, Better Homes in America. Chamber of Commerce of the . ■United States. General Federation of . Women’s Clubs. National Association [ of Builders’ Exchanges. National As- , aociation of Real Estate Boards. Na- j tional Congress of Parents and Te j ers. National Farmers Union, National , Grange Bussell Sage Foundation, ihe Savings Bank Division of the Ameri can Bankers’ Association, United , States League of Building and Loan : Associations and the Women sNa tional Farm and Garden Association. Miller Explains Work. Mr. Miller today made the follow- ' big statement regarding the work of ■ the Hoover Commission: “The strength of a nation is a re flection of the homes of the common people. The home, therefore, is of treater importance than the factory or the bank? It is the pulse of pros perity and so it must be stimulated if our Nation is to come out of its pres ent lethargic state. „^ vpr “In 1921 when Secretary Hoover organized the Presidents Unemploy ment Conference, America resounded with a slogan, 'Own Your Own Home, ?nd under the impetus of this move ment we have enjoyed almost » decade of unexampled prosperity. Caution, however, was thrown to the winds and capital was persuaded to invest in real estate as never before. We have seen In this 10 years the formation of financing companies, headed by men of little or no real estate < ex , pe extending credit upon the basis of the greatest return rather than upon the basis of sound security. It is no_»on der then that so many of these financ ing corporations found their assets frozen by being forced <» take tack property which was never truly worth - the loans extended. * Honest Man Beaten. "It is no wonder that the honest builder could not compete with the •ierry' builder and it is no wonder that the stockholders in these large financ ing corporations, which covered the country like a huge network, set up a howl against real estate financing corporations whose capital has been either lost or temporarily frozen so that they are not now receiving the dividends to which they would be en titled had their money been invested in a safer way. . . , i ‘ Capital is entitled to interest; labor is entitled to wages; and land is en titled to rent or income —all in proper proportion. When any one of these three factors begins obtaining a greater return than has been customary in the past, there is something wrong with the economic structure and so when financing corporations were earning 18 to 25 per cent per annum for their stockholders, the public should have recognized the red flag as a danger signal and looked Into the manage ment of the companies * hl ch were ap parently earning such great dividends. Capital has never been entitled to such earnings and the avarice of the man agement of these financing corpora tions has resulted in a great shock to the real estate industry- . “As the condition of stagnation and j unemployment in 1921 was avoided } Secretary Hoover by stimulating the, construction industry, so now by his| conference on the problems Pf****^*"! on home ownership and home building • President Hoover will probably again j revive the building industry, which is the greatest industry in America today, i and in so doing he will bring back to us that prosperity which we have tern- | porarily lost. According to his state-< ment, as given in the press of August 2 due consideration will be given tOi the financing problem, and if proper i safeguards are provided there is no reason why the prosperity which will (Continued on Page 2. Column 2.> ***| : A Guarantee of: : Real Value : ♦ Z : /i.iii . ♦ YOU will agree when you see J Z this charming Colonial home, a 4 north of Bradley Lane and west ♦ ♦ of Connecticut Avenue. T 4 LOCATION: 631* Woodulde Place. ♦ T LOT: 60x100. beautifully 4 landkciV'd. 4 I CONTAINS: Six l»r*e room*, two . ■* bath*, covered *ide x ♦ porch. built-in 2-car I ♦ garage, and other splen tdid features. PRICE: 516.550: convenient ♦ 4 term*. JTo inspect, drive out Connecticut x Ate. to Rosemary St. lone block . ♦ north of Bradlev Lanei. turn left to T ♦ Meadow Lane, then right to Wood - 7 4 tide Place, then right to property. J 4 Open all das Sunday. 4 r«r week day inspection phone ♦ J Wisconsin 24*9 ♦ and R. B. Warren $ WASHINGTON, I). C., JUNIOR FINANCING PLAN SUGGESTED Service for Loan Bodies, Says* Minneapolis Man at League Division Meeting. Building and loan associations are the logical organizations to undertake junior financing of American homes, and should be permitted to handle second mortgage money, Samuel N. Reep, Minneapolis, declared at a meet ing last week of the executive officers division at the thirty-eighth annual convention of the United States Build ing and Loan League. There are a number of States that allow building and loan associations to make second mortgages, but few asso ciations anywhere, except in Pennsyl vania, have entered into this phase of home financing. Mr. Reep stated that most homes would never be built if there were not some means of the home owner obtain ing the difference between the first mortgage funds and the cash he has in hand. Should Form Companies. Building and loan associations that go into the second mortgage business should form independent companies for this purpose, should make It clear to their investors that security for such funds are junior liens and, of course, should pay higher rates of interest. Keep declared. The laws In some States will have to be changed to permit building asso ciations to handle second mortgage funds. Enactment of legislation to permit building and loan associations to act as trustees of small estates was urged here recently by Arthur G. Patterson, Walton. N. Y., attorney. Mr. Patterson said that his recommendation had in mind only those building and loan asso ciations that are purely mutual and whose Investments are limited by law to those securities in which trust funds may be invested. legislation Is Proposed. The enactment of new legislation to permit building and loan associations to give their 12,000,000 customers com plete banking service. Including check ing accounts, traveler's checks, letters of credit, collateral loans other than mortgage Joans, etc., was proposed by Charles E. Winkler, New York, assistant secretary and business manager of the Serial Building, Loan & Savings Insti ! tution. SALES CONFERENCES ARE TO BE IMPROVED Industrial Realtors to Oet Advice and Help in Planning Set-Ups, and Exhibits Mads. A new type of sales conference, in which individual realtors will be given advice and help In planning various types of set-ups for sellng city residen tial property and farm lands and In which a collection of successful set-ups will be exhibited, is to be made avail able for meetings of local real estate boards and State real estate associations beginning September 1, according to an announcement made today by the Na tional Association of Real Estate Boards. Guy W. Eillis, Detroit, Mich., who is a special lecturer on the educational board of the national association and ; who, with A. John Berge, has conducted j sales conferences before a number of ) local and State real estate organizations, is to conduct the sales conferences to be given under the new program. : Among the first conferences whicn Mr Ellis has definitely scheduled will be a meeting at the convention of the North Caroine Association of Real Es- j tate Boards, August 18 and 19, in Wil mington. He will also address the Vir- , glnia Real Estate Association at Its con vention at Lynchburg, October 23--5. All-Brick Colonial Home $ $12,250 : j 4403 Elm Street ; § Located in Chevy Chase, north i ! $ of Chevy Chase Club and west of I s Connecticut Avenue. v $ Beautifully landscaped grounds s 5 and many fine shade trees make 5 n a lovely setting for this fully de- \ 5 tached six-room house. s 5 Contains every modern con- s 5 venience and appointment, in- J eluding open fireplace, tiled bath \ | with shower, built-in kitchen ;> 5 cabinets, large pantry, well J $ lighted cellar, covered side porch 5 and built-in garage. S Drive out Wisconsin Avenue s to Leland Street, just north 5 \ of Bradlev Lane, turn right s < three blocks to 44th Street, s 5 then left two blocks to prop- < erty, s $ M. and R. B. Warren v Open all day Sunday, and for week s , ij day inspection phone Wisconsin lIM. NOME BUYING COST 1 SLASH IS PREDICTED > ! Work Is Under Way in Many Quarters to Lower Levels, Says Reaume. While costs of small homes have been I constantly increasing, work is under way in many quarters to bring prices ; to lower levels, according to Leonard P. Reaume, Detroit, president of the Na- I tional Association of Real Estate j Boards. The costs of country cottages have ! risen so high that the men engaged in financing, building and selling them have banded together and will spend huge sums to study ways and means of making home-owning more economical, Mr. Reaume told the United States Building and Loan League at its recent convention. He declared he believed costs of home buying could be lowered. • Wasteful Planning is Cause. * Mr. Reaume listed wasteful city plan ning as one of the contributing causes to high prices. The checkerboard com munity plan belongs to horse and buggy days, and fewer streets and economies j in subdividing land would bring down home costs, he contended. “Large industries in the building field and powerful trade organizations are now studying possible improvements in the technological efficiency of home building.” said Mr. Reaume. Stan dardized units and mass production of American homes will undoubtedly be developed, thereby lowering their costs in much the same way as an automobile is relatively low in cost because it is one of many models. The speaker said that the next 10 years will develop home financing plans that have not yet been thought of, de scribed the necessity for long-term mortgages as an encouragement to home owning and urged improvements in junior financing plans. He said that the next few years would witness the term financing up to 90 per cent of the cost of a house. Speaking on the tax situation, Mr. j Reaume said: Tax Problem Studied. “The National Association of Build ing Owners and Managers, the Mortgage Bankers’ Association of America, the j United States Building and Loan j League and the National Association oi . Real Estate Boards a month ago ap pointed a joint committee to study for the first time on such a national scale the tax problem as it affects the owner of real property. "A committee of experts from various parts of the country is working under the direction of Prof. Simon Leland at j the University of Chicago. It is too j early to say what these committees will find but it is the first time that so much influence and ability has been put behnid the solving of the problem confronting the small home owner “If this committee works for a whole vear and brings in but one single prac tical suggestion for easing the tax bur den on real property, this will act as a tremendous encouragement to home owning by so reducing its costs.” SAFETY CODE IN SPORTS Engineering Experts Are Hoping to Eliminate Hazards. To lessen, if not eliminate, hazards to spectators at sports events, a na tional safety code Is being prepared by engineering and construction experts under the guidance of the American Standards Association to govern the erection of grandstands. Collapse of such structures for school and college crowds has been increas ingly frequent since the war, the as sociation reported. The failures are attributed chiefly to the desire to ac commodate as many spectators as pos sible in temporary stands. (First Offering! 7 Rooms--4 Bed Rooms Arranged for 1 or 2 Families, Never Before Have There Been Such I Complete Homes Offered in This Most Convenient Close-in, Section. I 1 Block of Junior High School; 2 Blocks of Eastern I I High School; 2 Blocks of Large Government Park. SOME INTERESTING FEATURES Colohial cement front porch; hardwood floors throughout; natural „wood finish; paneled papering; Sanitas on kitchen ! Illjll and hath room; screened open porch; model roomy kitchen i Hull with during set (invisible w hen not in use) ; cabinet gas range , Frigidaife; heavy inlaid linoleum ; colonial brass lighting fixtures; cedar-lined closets, radio outlet with antenna (already installed); jjjjjj I many Duplex electric plugs; built-in garage; real slate man sards; c6pper spouting, gutters and flashing; attractively land- jijjjj II j|J scaped; stone retaining wall around lawtj. Carefully planned. |||||| i Him Construction and material the very best. Price Low Terms You Can Afford Exhibit Home Open to 9:00 P.M. 313 17th Street N.E. 1 (17th St., between "C” and "D” Sts. N.E.) Real Estate Brokers and Salesmen Invited. Co-operation Given Waple & James, Inc. I 1226 14th St. N.W. North 0962 | pje fuming JMaf. V ✓ wtti WTMT mom* rnntm \~S ■■ ■ • SCHUYLER ARMS APARTMENTS SOLD large apartment property at 1954 Columbia road, which has been purchased by Barney Robins from Edward Beecher Dean, sr., through the office of 11. Grady Gore. I FORTY HOME SITES TAKEN IN KENWOOD D. C. Business and Professional Men Expected to Construct Homes Soon. Forty Washington business and pro fessional men within the past several! weeks have purchased home sites in Kenwood, Md., and most of the pur chasers are expected to start construc ! tion of new homes in the section in the j near future, according to announcement I today by the Kennedy-Chamberlin De | velopment Co. | Construction of three of the houses is to be started next week and others 1 are to be contracted for later. The houses will be built from plans prepared I for the owners and approved by officials i of the development concern. The purchasers of the 40 home sites an dtheir friends were the guests Mon day night of a dinner and reception held at the Kenwood Golf and Country Club, at which officials of the develop ment concern were hosts, Including E. S Kennedy, president; Donal L. Cham berlin, vice president and treasurer, and J. Howard Hixson, secretary. Purchasers of the home sites were; W. Gwynn Gardiner, Robert S. Stunz, J. F M. Bowie, John E. McClure, Ray mond N. Beebe, Monroe Warren, C. E. Galliher, Alex. W. Gregg, Hugh E. White. Harrison R. Hathaway, E. B**" rett Prettyman, Bolitha J. Laws, Rich ard S. Doyle, Alfred T. Newbold. Grover Bache Gill, Ralph B. Fleharty, O. J. Graham, S. A. Dalany Hunter, Joshua Evans, jr.; A. M. Hyler, R. K. Kyle, A. Montague Ferry, Howard W. Phillips, W R- Willoughby, H. A. Schulteis, Thomas W. Brahany, James E Corn flower, C. P. L. Moran, William H. Burrell, Nathaniel Mountford, Lee D. Butler, Earl W. Shinn, Richmond B. Keech, Gordon Kennedy. Dr. Can Hen ning L T. Pendleton, Horace Brown ing B’Charles 8 ’Charles H. Jerman, J. Hinson Boyden and H. Lawrence Choate. INDUSTRIAL FINANCE SURVEY IS PLANNED National Real Estate Boards to Acquaint Cities With Success ful Methods Used. * For the purpose of acquainting cities ! with methods that have proved success j ful in the financing of industrial devel opment, the industrial property division of the National Association of Real Estate Boards at the association’s re cent Toronto convention voted to un dertake an intensive survey of com munity financing of industry as prac ticed by leading American cities. Among the plans for attracting in dustry to a given community that are to be studied are those which are now successfully operated by the Baltimore Industrial Corporation, a civic enter prise organized some time ago. and the Easton, Pa., fund of $1,000,000 available for the financing of industries arrang ing to locate in that city, and the Louis ville, Ky., Foundation. Woodlawn of Ancient Date. Woodlawn, on the Potomac River, in Fairfax County, Va., was built in 1799 by Lawrence Lewis, who married Nell Custis, George Washington’s step daughter. Dr. William Thornton was the architect,. The house has been very much added to and altered. I.j-m,-.-.j-"-, » - ..... SHEPHERD PARK 1 I TrnfffT ttti i n* 3 ! id#*! - '• A I (7517 14th St. N.W. . I Offering the Distinguished in Furnishings By D. S. POOL !' This brick home of 6 rooms, 2 baths and garage cannot be "i'll duplicated at the price we are offering it. Come out Sunday |! and see for yourself. Drive out 16th St. to Alaska Ave. to 14th St., turn left 3 blocks to this furnished home. | , », Sons ]j Investment Bldg. National 2040 Builders-Realtors There’s Always a Breeze Out in NORTH GATE We hare only two houses unsold in our Kalmia Road operation and both are priced under $20,000. Detached, with 3 or 4 bed rooms and 2 baths. Attrac tively designed with large, bright rooms. Double garages. INSPECT TODAY 1323-27 KALMIA RD. * To reach: Drive out 16th St. to Kalmia Rd, turn right to houses. (%.§?• *\mifhy Uompany SUCCESSOR To/bu SI NESS OF 3\Uz^?S>ansbunf COMPANY INC. 1418 Eye St. N.W. Nat’l 5904 - 1 — • ■— -It ■ ' SATURDAY, AUGUST 9, ID3O APARTMENTSSOLD ON COLUMBIA HOAD Schuyler Arms Purchased by Barney Robins—Assessed Value Is $410,000. The Schuyler Arms Apartments, 1954 Columbia road, has been purchased by Barney Robins from Edward Beecher Dean, sr., for an undisclosed consider ation, it was announced today by the office of H. Grady Gore & Co., which handled the transaction. The property has as assessed value of $410,000 for land and building. The property con tains 96 apartment units. The Cambridge Apartments, 921 Nineteenth street, an eight-story struc ture containing 72 apartment suites, has been purchased from Mr. Dean by Jamie Shorter Gore, it also is an nounced. The assessed value of this property is in excess df $206,000. r " H. Grady Gore & Co. also announces i the following other sales closed re cently: The Summit Apartments, 1712 Summit place, an eight-story structure, purchased by Kenneth F. Wood from S. Linkins; 1862 Ontario place, a build ing containing 12 apartments, sold to -a local investor by J. W. Goulding; the Smithfleld, 1115 Ninth street, a six story building containing 12 apart ments, by E. S. Poston to Kenneth F. Wood; 610 F street, store building with apartments above, sold by P. D. Demp sey to George W. Hoover; 901 Twen tieth street, four-story apartment house, sold by the Alroy Properties, Inc., to an unnamed local investor; 524 Kenyon street, building containing 14 apart ment units, sold by Barney Robins to a local investor, and 1101 Fairmont street, building containing 12 apartment units, sold by the Alroy Properties, Inc., to a local investor. MOUNT AIRY IS OLD House Built in 1750 Partially De stroyed by Fire in 1844. Mount Airy, on the Rappahannock River, in Richmond County, Va., was built in 1750 by Col. John Taylor. The j interior, as well as the cornice, chim neys and roof, was destroyed by fire in 1344 and hastily restored with consid eration only for comfort and economy. The exterior is of native brown sandstone, with trim of fine white sandstone, said to have been brought from England. The formal setting and character of the house and the monu mental scale of the gardens suggest a European designer. WANTED 1 Young man about 25 years old to specialize in selling new homes owned and built by Efoss and Phelps. Apply Room 201, 1417 K Street, after 12 o’clock. BUILDING PERMITS RISE TO $643,021 DURING WEEK Eight-Story Structure of Brookings Institution, Costing $350,000, Tops List, Report Shows. PRIVATE building operations in the District, for which permits were issued during the past week by Col. John W. Oehmann, building inspector, have an estimated total cost of $643,021, an increase over the figures for several weeks recently. The largest item in the list of new work was the permit for the construction of the eight-story building for the Brookings Institution at 722 Jackson place. This project has a construction ebst estimated at $350,000. The building is to be used for the institution’s research work and for dormitories for its scholars. Plans were approved also for a new church building for the Friends Meeting House at 2109 Decatur place, at a cost of $66,000. Edson W. Briggs obtained permit for the construction of a $24,000 dwelling, to be erected at 1733 Kalmia road. Plans for construction of 13 dwellings and a number of remodeling projects were approved. Permits issued includ ed the following: •Eight-Story Building. The Brookings Institution, owners; Parks & Lockie, architects; Davis, Wick, Rosengarten Co., Inc., builders; to erect one 8-story brick, stone and concrete institutional and dormitory building. 722 Jackson place (lot 22, square 167), to cost $350,000. Washington Friends Meeting, Inc., owners; Price & Walton, architects; S. J. Prescott Co., Inc., builders; to erect one 1-story brick, stone and concrete church, 2109 Decatur place (lot 808, square 2515), to cost $66,000. Edson W. Briggs, owner and design er; Allen S. Saville, builder; to erect one 2-story brick dwelling, 1733 Kglmia road (lot 8, square 2748), to cost $24,000. W. C. & A. N. Miller, owners and builders; G. E. Mac Neil, architect: to erect one 2\' 2 -story brick dwelling. 4908 Rockwood parkway (part of parcel 13/38, square 1513), to cost $17,400. Two 2-Story Dwellings. Herbert & Myers, owners and build ers: Joseph G. Herbert, architect; to erect two 2-story brick and frame dwell WAVERLY TAYLOR,^ Invite you to visit their Double-Front English Group Homes in MaxtxU COOLED by refreshing breezes that always flay about Foundry Branch Valley Park on the cast . . . facing Foxhall Village on the rvest . . . but ten minutes by motor from the White House. . .architecture » “Commended" by the Architects' Advisory Council . . . containing six and eight rooms with one and two baths and built-in garage . . . of superior brick and stone construction . . . equipment that has set a new standard of excellence . . . unusual values—arc some of the reasons which have made this develop ment the most outstanding one of the year. Forty have already been purchased. pi : Y'" : " m a & JS JE 1 ''vi HsfelseJH a m ■ 3 ;'• • . ' -.' '■ v • : '- :;cyrv 1 Furnished Model Home —1509 44th St. Office—ls 22 K St. Nat’l 1040 ; •' " 1 ■- - —— • - —j Three New Detached Homes Chevy Chase, D. C. MB. Only— 1 8 11,950 • Electric Refrigeration Over 55-ft. frontage. A real home of half brick Large living room construction. Guest wardrobe Covered side porch. open fireplace complete TT 11 .•! J L L kitchen equipment, three large rull tiled bath. bed rooms, cedar closet, linen Built-in garage. closet and three other closets. Exhibit Home—32oo Jocelyn St. N.W. OPEN ALL DAY SUNDAY Drive right from Conn. Are. on Mtlitarv Rd. to Broad Branch Hi., then right one-half block to Jocelyn St. and our tign. 3f. €. Uouglasa Co. Realtors 1621 K St. N.W. Metrop. 5678 BUILDING NEWS legs, 5704 and 5706 Nevada avenue nots 44 and 45, square 1999), to cost $16,000. Kass Realty Co., owners and build ers; to erect one 2-story brick gasoline station, 3619 Georgia avenue (part lot 801. square 3032), to cost $15,000. George Washington University, own ers; Norris I. Crandall, architect; Frank W. Burnett, builder; to erect one 1- story brick and concrete block addition, 2026 H street (lot 43, square 102), to cost $15,000. Mrs. Natalie S. B. Yates, owner; George N. Ray, architect; Pringle Con struction Co., builders; to erect one 3- story brick and stucco addition and remodel 2448 Massachusetts avenue (lot 848, square 2500), to cost $15,000. William Heard, owner; F. M. Mc- Conike Co., builder; J. J. Whelan, arch iter*; to erect one 2-story brick dwell ing, 3331 Q street (lot 140, square 1245), to cost $15,000. Brick and Frame Home. Breuninger & Phifer, owners and builders; L. E. Sholtes, architect; to erect one 2-story brick and frame dwelling, 6010 Thirty-third street (lot 11, square 2010), to cost SB,OOO. G. S. Seek, owner and builder; to | erect one 2-story brick and tile dwell < Continued on Page 2, Column 1.) B-1