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NEW HOME Building and Loan League Sees Move as Tribute to Washington. ———————— * A million more home owners in the United States by the end of 1932 Is an objective proposed by the United States Building & Loan League as a fitting tribute to George Washington In the year of the Bicentennial cele bration—and an accomplishment eco nomically desirable. The economic field for such an ex pansion of home ownership Is pointed out by William E. Best. Pittsburgh, { president of the league, in a message : rent today to the 2.109 affiliated build ing and loan associations. "There are 12.943,598 families still j renting their houses in the country ' where George Washington and his fol- 1 lowers fought to make sure that every ] man should have a chance to own a piece of ground and a home of his own,” says Mr. Best, citing the 1930 census figures on home ownership, just icieaseu. "Home ownership, always a mark of political freedom and of equal oppor tunity, was the goal of 9 out of every 10 families which settled on our Atlan tic coast, The victories of their War of Independence were triumphs for home ownership, which only 43 per cent of our present day people are tak ing advantage of. Prices at Bargain Levels. “With prices of homes at bargain levels and 83 per cent of the popula tion still gainfully employed, a mini mum of 1,000.000 more home-owning families should be created this year. Tills number is not more than 5 per cent of the 83 per cent said to have jobs, and scarcely 8 per cent of the total families not living in their own homes. It Is a conservative start which should be multiplied ever year as one of the goals of building and loan asso ciations, civic organizations and edu cational movements. The real army safeguarding the ideals of Washing ton’s country is made up of the 10, 500,000 home-owning families now in the country. They have the same kind of a stake in the future as did the revolutionary ancestors. It is our duty, all other considerations aside, to in crease that army. “It is noteworthy that in this Bi centennial year of the first President, the Federal Government is taking steps, by means of the Home Loan Bank bill, sponsored by the administration and now before Congress, to promote home ownership on a scale never possible be fore. By adding stability to the home financing system this proposed agency would enable building and loan asso ciations and other institutions making long-time home loans, to meet legiti mate demands for new home loans and 1 refinancing at all times of the year and In any phase of the business cycle. “At present there is a buyer’s market In homes which will help many to real ize their lifetime desires for their own rcof. Today $3,700 in the home market will pay for the kind of a home which would have cost at least $5,000 five years ago to build. This figure is based on the construction material prices as of December 31, 1931, when the prices w ere 73.7 per cent of their 1926 whole sale averages for the same month. The lumber dollar is worth 35.7 cents more than in 1926—the brick dollar has pained 20.5 cents In house-building value, and the cement dollar will buy 25.4 cents more than it did five years ago. These low prices represent a fur ther fall of a fifth of 1 per cent for the last two months of 1931, or an average $100 on a $5 000 house in a year.” Sees Patriotic Results. Mr. Best said buying a home is con sistently patriotic, whether looked at from the eighteenth century or the 1932 angle. Pulling money out of hiding and investing it is one of the most impor tant services a man can render this country at present, said the league head, who attended the Hoover anti hoarding conference last week. “No safer place for savings has ever been found than investing in a home,” 2942 McKinley St. $12,950 All large bed rooms, two splendid baths, at tic, recreation room, breakfast room. Latest kitchen equipment. Stone open fireplace. WM. H. SAUNDERS CO., Inc. 1519 K St. N.W. Dist. 1015 A Distinguished Residence at Moderate Price Open Sunday for your inspection 104 PRIMROSE ST. $17,500 The construction and finish of this exceptionally desirable new home impress you at once as characterizing un usually high standards of structural excellence. Its loca tion, one square off Connecticut Ave., is one of the choice sites in Chevy Chase, Md. Center-hall plan. Spacious rooms, two baths, breakfast room, large screened porch, large recreation room, electric refrigeration and Curtis built-in cabinets in kitchen. Unusually large rear yard. Two-car garage. Drive out Connecticut Avenue to Primrose Street, one block right to house G. F. MIKKELSON & SON 200 West Thornapple Street, Chevy Chase, Md. Wisconsin 4255 Wisconsin 2323 New Home Rising for Public Health Service STEEL FRAME, NEARING COMPLETION. REVEALS STRUCTURE'S OUTLINE._ Located in the western section of the Federal building field of activity here is this skeleton of u hat v. ill be a mag nificent marble-faced building to house the Public Health Service. It is being erected in the square bounded by Nine teenth, Twentieth and C streets and Constitution avenue, overlooking the Lincoln Memorial area. It is to be of a character in keeping with the Pan-American Building to the east and the National Academy of Science to the west. It will cost about $865,000. _ ___ he declared. “Whether In good times or bad. the same kind of dividends—satis faction, freedom from rent and landlord dependence, security, pride of owner ship, accrue from an owned home. Such an investment is always a tangible asset, never a shrinking paper value, such as some Investments unfortunately prove to be. “Those who already own their own homes may have a part in this new Washington tribute by investing their money for home financing purposes. A home is not only a safe investment for the man who lives in it, but also for the man who lends money to finance it. i Building and loan associations, with 90 per cent of their assets in mort gages on homes, have a safety record j of 99.95 per cent of their total assets , over the past decade. No greater proof of the home owner’s stability in our financial system can be had. Money pulled out of hoarding and invested in the home field will help building and loan associations finance the million home owners we expect to create this year." -•-— Two-Story Home Planned. Specifications calling for the con struction of a two-story brick dwelling at 4808 Forty-sixth street have been filed with the District government by George E. Pruett, owner, and G. R. Pruett, builder. The construction cost is estimated at $8,000. DETACHED ENGLISH HOMES of BRICK and STONE Construction! Variegated Slate Roof Deep Lot with 2-Car Garage 4 BUILT—3 SOLD! 6814 9TH ST. N.W. Open to 9 P.M. Daily! 7 Rooms (4 Bedrooms'!. Spacious Living Room With Artistic Stone Fireplace. Large Master Bedroom. 2 Complete Baths. Beautiful Interior Decorations and Electric Fixtures. Kitchen: Sanitas and Tiled Walls. Inlaid Linoleum, Quality Gas Range, Electric Refrigerator. This Home Is Priced for Immediate Sale! Termt Arranged! Your Prompt Inspection Invited “See the Beautiful Club Room” (It Is Different.) Built by 5. Eig Contraction Co. WAPLE& JAMES, INC. 1226 14thSt. N.W. North 0662 PASTOR WILL CONTINUE LENTEN CONVERSATIONS Rev. Herman McKay to Preach on “The Family of Nations'’ Tomorrow Morning. “The Family of Nations” will be the theme for the service tomorrow morn ing in Union Methodist Episcopal Church by Rev. Herman McKay, min ister. The friendship hour of the young people is at 5:45 o'clock. At 6.45 o'clock the pastor will continue the spe cial Lenten "conversations” with the Epworth League members on “Religion in a Changing World.” At 8 o'clock the sermon will carry out the idea of the league meeting. “The Problem of Suffering.” from the Book of Job, will be studied at the devo tional meeting Thursday. A banquet Friday at 6:30 o’clock will open the conference on the educational work of the church which is to be held February 26-28. Speakers will be Rev. John C. Millian, director of Christian education for Baltimore Conference; Miss Marion C. Armstrong, conference superintendent of elementary work, and Rev. Mr. McKay. Group meetings with the officers, teachers and workers of the church organizations will be conducted on Saturday and Sunday afternoons by Mr. Millian and Miss Armstrong. At 8 o'clock Saturday there will be a meet ing of the men. • SEE THESE CAFRITZ LIFETIME HOMES TODAY • 7-Room Homes • RECREATION ROOM With No ObMtruction«. An extra room 17x20 ft. completely finished in the basement for a den or for your entertaining at no extra cost. Textured walls and ceiling, modern lighting fixtures, two windows, heat, finished stairway, floor plugs. SMALL O ^ A TERMS CASH tlKI I LESS THAN PAYMENT V/J %J\J RENT Colonial, variegated tapestry brick fronts with Mansard roof, all-brick construction, 3 wide covered porches ... 7 spacious, well planned rooms, with a model kitchen in but! and green color scheme, built-in cabinets, sink with double tiled dralnboard. fold-away dinette set. Frigldaire with cold control, model gas range, electric clock, linoleum flooring . . . De luxe bath with colored tile and colored fixtures, and latest built-in equipment, spacious rooms with.^ large closets, extra floor plugs . . . Hardwood floors throughout, copper screens, metal weather stripping, double-floor construction . . . Red Jacket heating plant, built-ir, garage with "Over-the-Top 1 counter-balanced one-piece door . . . Street and alley paved and paid for by Cafritz. 4th and Farragut Sts. N.W. 14th &K CA FRITZ Dist. 9080 • OVER 3,000 LIFETIME HOMES BUILT AND SOLD • W ashington* s Most Distinguished Apartment Residence WE INVITE YOUR INSPECTION of the very desirable apartments of this type—two bedrooms, spacious living room (14 ft. by 21% ft.), dining alcove and bath at $100 TO $115 PER MONTH Including electricity, electric refrigeration, gas; and parking facilities for guests of tenants. The Kenned y-Warren Washington’s First Air-Cooled Apartment 3133 Connecticut Ave. Adams 9600 HOME LOAN BANK PLANS ANALYZED BY PRESIDENT OF BUILDING LEAGUE (Continued From First Page.) monthly repayment, mortgages lor eight years or more, and on such mort gages a home loan bank may advance or lend not In-, excess ol 60 per cent cl the unpaid principal; (2) other home mortgages on which may be advanced 50 per cent of the unpaid prlclpal. No advance can exceed 40 per cent of the appraised valuation of the real estate and there are additional restrictions regarding the relation of the loan to the appraised valuation. No mortgage can have more than 20 years to run to maturity, nor can upald principal exceed $15,000. These advances, in ad dition to the mortgages deposited as collateral, are secured by a note—that Is, by primary and unconditional obli gation of the member. Money on Hand Required. "7. In order to keep the 12 banks In proper condition, each one must at all times have an amount of money equal to the capital subscriptions of its members. In (1) United States Gov ernment securities; (2) Interest-bearing deposits In banks and trust companies, and (3) loans to members with a ma turity not greater than one year. "Other than above, the funds of the oank, including funds received from the sale of bonds, may be loaned to members for long periods of time. "8. The board Is given broad powers with regard to the types of bonds, their maturity apd interest rates. All bonds are secured by home loan mort gages, the unpaid balances of which have an apprpxlmate ratio of $2 for each dollar of bond Issue. Ihe banks g &>tone $ouse Enchanting in its sylvan setting of pines, contains a surprising interior, more spacious than the skillfully balanced architectural lines of its exterior portray. You will enjoy a few moments of your time Sunday in this delightful house. It is vacant and has been re decorated throughout. Going in to Wesley Heights, via Cathedral Ave., turn left at Second street (Forty-fourth StJ to property. 2914 44th St. The lot—160x135 <2L & A. X. ffiillrr 1119 17th St. Decatur 0610 are jointly and severally liable and the bonds are lawful as Investment and security for all fiduciary, trust and public funds under the control of the Government. "9. Each bank places In a reserve account semi-annually 50 per cent cf Us net earnings until the reserve equals the paid-in capital; after that 25 per cent of net earnings There are the usual provisions for dividends, examina tions and reports, unlawful acts and penalties, restrictions against use of name and the Federal Reserve banks are authorized to act as depositories, custodians or fiscal agents for liquida tion purposes.” Furs exported from Russia last year were valued at more than $25,000,000. NEW BIBLE CLASS WILL BE ORGANIZED Bev. Walter X. Michael Will Preach on “The Character of Washington.” A new Bible class will be organised tomorrow at 9:30 a.m. In the Bible school of Eldebrook M. E. Church under the direction of Dr. Glenn P. Route, superintendent. The pastor, Rev. Walter M. Michael, will preach a patriotic sermon at 11 a.m. on "The Character of Washing ton." The choir will render special number*. At 8 p.m. the pastor will preach cm “The Unknown Guest.” The Junior choir, directed by Miss Grace Goenell, will render special number*. The Young People’s Society and the Oxford League will meet at 7 p.m. A group of nine young people from these societies will attend the Epworth League Institute meeting at Palls Church, Va.. over the week end, and will give a report of their experiences and Impres sions at the evening service. The midweek Lenten ssrvice will be held Wednesday at 8 p.m. The pastor will deliver his second address on a series on “Lenten Meditations.” The Community Ladles’ Bible Class will hold a social Thursday evening at the home of Mrs. H. E. Riley. Dignified—Substantial—Spacious 5201 Colorado Ave. N.W. $27,500 You will be surprised and delighted by an inspection of this most attractive home and spacious grounds. Located one-half block east of 16th st. on a wide avenue, noted for its distinctive homes. A Breiminger-built, center-hall brick, with wide hallway, spacious living room, sun parlor, dining room, kitchen and butlers pantry; two concrete porches. Four Master bedrooms and two baths on second floor. Two huge rooms, bath and cedar storage room on third floor. Gas heat; large, built-in Kelvinator; 2-car garage, and many other pleasing features. The corner lot, with a total frontage of 203 feet, is beautifully land scaped, and contains a do2en giant oak trees. Open This Afternoon and from 10 A.M. to 9 P M. Sunday and Monday Realty Associates, Inc. 1427 Eye St. Realtor National 1438 A FIRST OFFERING of “HOMES SUPREME” FACING “FORT SLOCUM PARK” DRIVE *9250 r FEATURING "\ 7 Large Rooms 2 Fine Baths Recreation Room with Ornamental Fireplace Oxford Kitchen Units Double Drain Sink Frigidaire Bronze Screens Cedar Closets Built-in Garage Clear Oak Floors ^ Hardwood Trim j SAMPLE HOME—326 MADISON STREET N. W. Furnished by Dulin and Martin A truly timely offering to the Washington public—homes that after years of building, we believe, have just about reached the heights of perfection. Homes that are planned, constructed, finished and located to endure the test of time. Homes that during these times of “Wise Dollars” repre sent the utmost value in dollars and cents. Think of the dream of your ideal home, then come out and see the home itself. Fea tures that invite the attention of the critical home purchaser, such as an “ultra modern” kitchen with built-in latest type “Oxford” kitchen cabinets; 72-inch all-porcelain, one piece sink with double drainboard; latest type “Frigidaire” electric refrigerator; beautiful Detroit Jewel console type gas range; bath rooms with Standard plumbing fixtures, tiled with black and white tiles, floors tiled with a beautiful basket-weave pattern; real bed rooms with excellent wall space, lots of fresh air and rich decorations; a spacious living and dining room, artis tically decorated; a sun room of real use fulness, with plenty of sunshine ; clear-grain oak flooring, hardwood trim, natural finish; large colonial front porch with concrete floor; nice size screened-in sleeping porch; a real recreation room in the basement,* with outside windows and a fireplace equipped with “Radiant Fire” gas heater, American Radiator Company “Red Jacket k Boiler” heating system with automatic hot water heater; large, roomy, built-in garage with “Over the Top” doors—and all located just a block from Fort Slocum Park and facing on the wide “Fort Drive.” These homes will undoubtedly be sold quickly. The terms are reasonable. Come early and make your selection OPEN SUNDAY and DAILY 10 AM. until 9 PM. Built and for Sale by EyTst. H. G. Smithy Co. NAs7>71 Members Washington Real Estate Board