Building and Loan League
Will Discuss Issue at
The Executive Committee of the
United States Building and Loan
League will meet here February 25 to
determine why families and whole
sale home builders are not using the
available credit for new home con
struction and to recommend a prac
tical program to bring about a nor
mal demand. They represent insti
tutions with hundreds of millions of
dollars to lend on homes with rela- j
lively few legitimate calls for the
The committee is made up of ex
perienced residential financiers in the
business from 10 to 40 years, who rep
resent every State and the District.
I. Friedlander, Houston, Tex., presi
dent of the league, and chairman of ,
the advisory council to the Federal 1
Home Loan Bank Board, will preside.
He announces that one of the com
mittee's main discussions will center j
upon the current public psychology '
against going into debt which is be
lieved to be partially responsible for
the laggard demand for home con
Half Billion on Hand.
"Building and loan associations are
in a position and are anxious to make
credit available for half a billion dol- j
lars worth of construction, with all
that this activity would imply toward
re-employment," Mr. Friedlander
pointed out. "We are willing to co
operate in any program to induce the
people who normally use this credit
to avail themselves o>it at this time.
"One of the first steps which can
be taken to bring the mortgage market
back to normal, will be the servicing
by private capital of between $1.500,
mortgage debt, largely in the form of !
applications to the Home Owners'
Loan Corp. The rearrangement of this
debt by building and loan associations
and other institutions in the home
mortgage business can be speeded up
by close co-operation between the Fed
eral Housing Administration and the
Home Owners' Loan Corp. Let the !
F. H. A. examine the applications now j
on file with the corporation, separate
them into two groups and turn back
to the II. O. L. C. those which are ]
really in distress. Let them insure
under Title XI of the Housing Act
the others which are not distress
loans. The refinancing of this dis- !
turbing mortgage debt problem can
» then be speedily accomplished by the
private capital institutions fitted to
do the job.
"The latter can rewrite their notes
on the F. H. A. plan, and will be
willing to do this once the F. H. A. has
qualified these borrowers for insur
ance. Such institutions as are unable
to carry their mortgages turned back
by the H. O. L. C.. and approved for
insurance by the F. H. A. may either
secure funds from the Federal Home
Loan Bank System for that purpose
or may transfer their loans to other
institutions in a position to refinance
♦ People Afraid to Borrow.
"It is no longer possible to look
at the laggard home construction in
dustry without realizing that the mat
ter of stimulating a demand is tied
up with the public feeling about get
ting into debt. Where people would
borrow for anything and everything in
1928 and '29 they will scarcely borrow
for anything in 1935. So long as a
large group of home owners not in
the distress class are seeking refinanc
ing and thus indicating a dissatisfac
tion due to home borrowing, not many
prospective builders of homes will bor
• row for construction purposes. Even
if the bonding power of the H. O.
L. C. is increased there is still a sub
stantial amount of short-term mort
gage indebtedness not in distress but
retarding the mortgage market until
» satisfactory refinancing is arranged.
It is here that private capital can and j
must arrange to show its hand. We
will then have taken a major step
toward eliminating the public feel
ing about not going into legitimate
borrowing transactions, and there will
be a consequent larger demand for
new construction loans."
The committee arranging to discuss
these problems includes, besides the
national executive committeemen from
each State, the past presidents of the
league, chairmen of its five divisions,
advert using and business development,
accounting, appraising, attorneys and
supervisors; the president of the edu
cational organization, the American
Savings, Building and Loan Institute,
and officers and directors of the
3,620 Pledges in Jersey.
Canvassers in Perth Amboy, N. J., '
obtained 3,620 pledges from property
owners to modernize or repair their
homes, out of 4,485 calls made. The
estimated total of pledged improve
ments is $720,500, and represents the
securing of pledges from three out
of every four contacts made.
A Studio Apartment Decorated and Furnished in Modern Style
The above room was decorated
and furnished for a combination
dance studio and apartment by
Wolcott Clarke Waggaman, Wash
ington architect and designer.
The color scheme is silver with
blue woodwork, treated so as to
show the grain. The grill windows
are made of cast aluminum. The
walls are done in silver, with the
Indirect lighting directed down the
sides of the walls rather than on
the ceiling. The cover of the
couch shown on the left is made
of copper metallic cloth, with a
silver design through it.
Romantic Decorations Used
In Neiv York Bed Room Plans
Special Dispatch to The Star.
NEW YORK, February 9 -In and
around New York the romantic style
oi interior decoration is much In
evidence—especially in the decorative
treatment given ber rooms. The colors
used tend toward soft pastel hues and
the fabrics emphasize graceful natur
alistic sprays and nosegays of flowers.
For a bed room in one of New York's
smart suburbs a clever woman who
knows how to shop found an espe»
cially fine glazed chintz in soft blues
and pinks on a cream ground. This
rhe used to create a color scheme for
repainting her large front bedroom,
which had possessed much of the
heavy dignity popular a decade ago.
All the heavy moldings and ornate
window cornices were first removed.
Then the walls were painted a warm
cream, with the woodwork in white.
The chintz was used for the curtains
and was also made into a slip cover
lor a large easy chair. The top of
the dressing table stool and a slipper
chair were covered with a blue rep
which matched the blue in the chintz.
Following the Colonial custom, the
bedspread was made of the chintz,
but modified by having a plain blue
Drapery Painted on Walls.
In another room with a slight re
cess in which the heads of beds were
placed, a French effect was created
by painting folds of pink drapery
very sketchily on the white wall of
the alcove. The rest of the walls
were coated in French gray, and
the woodwork in white. Pink cur
tains were hung at the windows,
with looped-up draperies—echoing the
theme of the painted bedstead wall—
in pink, blue and green on a white
ground. The ceiling was painted very
light pink, following the vogue for
varying the ceiling color from that
of the walls.
In a midtown apartment house
bed room, from which the outlook was
not very engaging, white Venetian
blinds with green tapes were used
which harmonized with the green and
white glazed chintz curtains. Light
Spring green paint was selected for
the walls, which were paneled with
molding. The stiles, or spaces outside
the panels, were painted a somewhat
barker tone than the inside. The
seUing of this room, which did not
receive much daylight, was painted
Chintz Revives Old Bed.
Chintz was used also to revivify an
aid bed in another recently decorated
guest room. The bed had a low wooden
head and foot board, with large panels
in the center of each. First the bed
was painted a light blue-gray, then
chintz to match the window curtains
was pasted in the pannellsd spaces.
The color scheme of this room fol
lowed that of the fabric, which had a !
small floral pattern in blue, pink and
cream. The walls were painted flesh
pink, the ceiling a lighter tint of the
wall color and the trim of a darker
Furniture somewhat outmoded In
style has been brought up to date in
other chintz and paint bed rooms by
painting it off-white. A table with a
pedestal support of white, had the top,
including the edges, painted black.
This gave a smart effect quite in the
classical mode. An old-fashioned
bureau painted black, had the molding
on the drawers touched with white.
Many metropolitan home owners are
taking advantage of the loans avail
able through P. H. A. activity to build
into their bedrooms modern and
spacious closets which allow for the
careful storage of clothing and per
sonal accessories. Such loans also
permit the painting of interior walls,
floors and woodwork.
LAWS ARE NOT FEARED
Not Believed to Retard Operation
of Mutual Mortgage Insur
So-called State moratorium laws
should not retard the operation of the
mutual mortgage insurance program of
the Federal Housing Administration,
according to the administration.
By the Summer of 1935, all but one
of such statutes will have expired, the
South Carolina law expiring in March,
1936. At least three of these State
moratorium laws have been declared
It is pointed out that virtually all
such moratorium legislation contains
a provision that it applies only to
mortgages made "prior" to the date
of legislation, which precedes the date
of application and execution of insured
mortgages under the Federal housing
Detroit Has Boom.
Detroit, Mich., reports approxima
tely 100 per cent increase in the num
ber of building permits Issued in 1934
as compared with 1933, according to
the Bureau of Labor statistics. In 1934
the dollar volume of alteration and
repair permits was $2,915,923, as
against $1,466,000 for the previous
Cape Cod Bungalow
β Room* C M fÊÊ On Convenient
an J Bath Λ % M 3 V Term»
Heated and Open for Intpection Day and Evening at
518 STRONG STREET in
One of Nearby Virginia's Most Attractive Home Communities.
Drift out now and see one of the best values available anywhere—ft spacious
rooms and tiled hath of» first floor—tel ν finished room· on «ecend
floor—Insulated—weather-stripped—foil basement, with club room—model
kitchen—fully screened—near bus—schools—stores This is - real buy and
If intrrrMrd »n f*rlv insprction is su«rstrd.
Drirt over Key Bridge—Lee Highway or
W'lson Boulevard to Lyon Villaae and property.
BUILDER M. A. CARDWELL C'*1936 °n
i PCT. IN D. t
$3,184,620 Shown in House
Improvements in Last
Half of 1934.
Modernization and repair work simi
lar to that being advocated by th(
Federal Housing Administration ir
its better housing campaign has showr
nearly 300 per cent increase in Wash
ington, according to comparisons o:
1933 and 1934 operations.
During the second half of 1934
when the F. H. A. modernizatior
pian was In operation. $3,184,620 ir
additions, alterations and repairs wen
made in ihe Capital. The figure foi
the same period of 1933 was $1,199,·
130. and for the first half of 1934
Gain In Other Cities.
Figures compiled by the Bureau ol
Labor Statistics show a gratifying
increase in most of the larger cities
of the country. The most pointec
gains have been made since the Hous
ing Administration's campaign started
Permits issued for additions, altera
I tions and repairs by all cities with
; populations of 100,000 or more foi
the last half of 1934 totaled $60,314,·
400 against $53,268,428 for the flrsi
half of 1934, and $47,576,791 for th<
last half of 1933, according to re
' ports made to the bureau.
This is a gain of 13.22 per cenl
1 over the first half of 1934 and of 26.75
ι per cent over the last half of 1933.
I These increases are credited chiefly
! to the better housing campaigns now
being actively carried forward or or
' ganized in more than 5,000 commu
nities under the modernization pro
Figures for permanent installation
of equipment, such as refrigerators,
etc., in homes, stores, factories and
other properties, and for painting
usually are not included in alteration
and repair permit totals. Estimates
from leading corporations manufac
turing and selling such materials,
however, indicate a striking gain in
Sixty-nine of the ninety-four cities
ι listed show gains for the last half of
: 1934 over the last half of 1933. while
57 show gains over the first half of
1934. Forty-seven of the ninety-four
cities show gains over both the other
FOR REALTY DINNER
Large Demand for Function at
Columbia Country Club
More than a hundred reservations
already have been made for the real
tors' dinner and dance to be held at
' Columbia Country Club on Saturday,
March 2. J C. Weedon, jr.. chairman
of the Ticket Committee, announced
I today. The affair is sponsored by the
Washington Real Estate Board.
The attendance to the dinner and
dance has been restricted to 250, and
members of the board are urged to
make reservations before February
' 20, when, if the present rate of dis
posai continues, the supply of tickets
will be exhausted.
Edward R. Carr, chairman of the
Entertainment Committee, announced
recently that he is planning a number
ι of unique attractions that will be made
public later. S. S. Spruce and Fred
A. Smith are assisting Mr. Carr as
' members ol the committee.
In addition to Weedon, the Ticket !
Committee is composed of the follow- 1
I ing: Thomas Sandoz. vice chairman; j
Edward H. Brent. Walter A. Brown,
jr.; J. Wesley Buchanan, Frank M
I Doyle, Owen Howenstein, H. F. :
' Humphries, C. A..Metzler. C. H. Hille
geist, Joseph B. SchaafT, Walter L.
I Funderburk, Joseph D. Sullivan, L. H.
Brodie, Carl G. Rosinski. Claud Liv
! ingston, jr.; Herbert W. Primm, Hollis
Fritts. John Saul, Ralph A. Weschler,
Ben T. Webster, William M. Throck
morton, Frank J. Luchs, Henry C.
Cryer, Β. H. Parker and M. P. Canby.
$10,000 Per Day Pledged.
Pledges are being obtained in Tex
arkana, Tex. and Ark., in the better
housing house to house canvass at
the rate of $10.000 per day. Texar
j kana's population is 27,366.
See the Sensational
Model Furnished Home
218 Emerson St. N.W.
Open Daily 9 A M. to 9 Ρ M.
Beautiful! Now! Complete!
Studio Living Room . . . beamed
ceiling . . . Italian fireplace . . .
step-up Dining Room ... 3 fine
bed rooms . . . recreation room
with fireplace . . . deep lot . . .
garage . . . fine location.
DRIVE OUT NOW!
Out r>Forti* Avf. to Em*r«on
St. N.W. and right to home.
1Λ08 Κ St. N.W.
Open, Heated and Lighted—Today and Sunday
L. T. GRAVATTE
729 15th St. N.W. Realtor NAtional 0753
Repossessed — New-House Condition
High elevation in an exclusive, refined section on a beautifully landscaped lot 120 feet frontage,
center-hall planned, six bright, cheerful bedrooms, two tiled baths, hot-water heat (OIL BUHNER),
electricity, hardwood floors, screens, weatherstrips, FRIGIDAIRE, 2-car detached garage. Just off
Connecticut Avenue. It is so convenient to the street cars. Chevy Chase business section, theater,
churches and the Reno Elementary Graded School, the Alice Deal Junior High School and the New
Woodrow Wilson Senior High School are only a few squares from It.
In a home of this character, REPOSSESSED by the first-trust noteholder and
thoroughly RENOVATED by the latter and offered to the public at actual cost, a pur
chaser is assured of the highest quality at minimum cost.
Chevy Chase, D. C.—West of Connecticut Avenue
3807 Ingomar St. N.W.
Chevy Chase, Md.
Between the Chevy Chase and
Columbia Country Clubs, on a
beautiful wooded lot 200 ft.
deep is this large six-room
home, which sold for many
thousand dollars above this
price. There are six large
rooms, bath and raraïe: also
large attic and modern base
ment. The kitchen Is modern
and has pas refrigeration. The
entire house has been put in
Open alt daV Sunday and
each afternoon in the week.
Phillips & Canby
NA. 4600 Investment Bldg.
Valuation Figures Rise 72.9
Per Cent for December
as of Year Ago.
Building permits issued Tor work
within the corporate limits of 31 fifth
district cities numbered 1,457 in De
cember, 1934, with estimated valua
tion figures totaling $1,913,866, com
pared with 1,064 permits issued In De
cember, 1933, for a valuation total of
$1,106,697. Last month ihe number ol
permits increased 36.9 per cent and
valuation figures rose 72.9 per cent in
comparison with the figures reported
for December, 1933. Twenty-three ol
the 31 cities reported to the Federal
Reserve Bank of Richmond higher
valuation figures for December than
for the corresponding month of the
preceding year, but most of the in
crease v.-aa due to very small 1933 fig
ures rather than to the larçe amounts
of work planned last month.
All three of the largest cities, Balti
more, Washington and Richmond, re
ported higher figures for December
1934, than for December, 1933, but tht
figures for Baltimore and Richmond
remain very small. During the entire
year 1934 permits Issued in the 31 re
porting cities totaled 21.539, a highei
figure than 21,360 permits issued in
1933, but less than 27,791 permits is
sued in 1932. Estimated valuation fig
ures last year totaling $30,848.263 ex
ceeded the 1933 total of only $20,728,
673, but was below the total of $35,
613.841 for 1932.
Contracts awarded in December foi
construction work in the fifth district
including both rural and urban proj
ects, totaled $13.698,803, comparec
with $8,599,431 awarded in November
1934, and $15,453.761 in December
1933, according to figures collected b;
the F. W. Dodge Corp. Of the award;
in December, 1934, $1.875,938. or 13.·;
per cent, was for residential work
compared with $2,064,426, or 13.4 pel
cent, for this type of work in Decem
Annual figures for 1934 on contracte
awarded in the fifth district total
$185,791,734, an Increase of 81.3 per
cent in comparison with contracts
totaling $102,465,338 awarded in 1933.
▲ considerable proportion of the in
crease was due to public works project·
or projects undertaken with grants or
loans from public funds.
Building permits issued in Decem
ber. 1934 and 1933, compared in valu
ation as follows:
Richn ond Va.,.·
Roanoke. Va .
Bluetteld. W Vs..
Charleston. W. Va.
Clarksburg W Va.
Huntlneton. W Va.
Asheville Ν C..
Charlotte. Ν C.. .
Durham N. C . . .
Greensboro. Ν C .
Hiah Foint. N C .
RaMtrh. S C ... .
Rocky Mount N. C.
Salisbury. Ν C...
Charleston S C..
Columbia. S C ..
Greenville. S. C
Rock H:!l S C
Spartanburg. S. C.
Washington. D. C
Total» >ι.μa.see si.inn.ftii?
cir* LIVE IN «N.
The Suburb of Contentment
HOMES ON Va
until 6 P.\J.
Direction»— Out Wisconsin At# tr>
Bank of Bethesdr. c.vd follow cat
live mcd tc Luxmcnor signs. Jvsi
25 minutes from the heart 01 the
I—-#— DIVKLOPMfNT CO. CJ
A Lovely Npk Home in Select
319 Milton Ave., Clarendon, Va.
All-brick construction, slate roof,
large front porch, garage First
floor is ideally arranged . . . Lovely
living room with fireplace, dining
room, two real bed rooms, fine tiled
bath with tub and shower, up-to
the-minute kitchen cabinet equip
ment and electric refrigeration.
Beautiful lot with shade trees.
This home may be purchased on
our PERMANENT HOME FI
NANCE PLAN, which eliminates
the expense and uncertainty of the
usual short-term mortgage.
Washington \JJ E^YER BROC Diltfict
Building Τ Τ REALTORS \J 9486
TO REACH: Motor over
Key Bridge, take Wilson
Blvd. thru Clarendon, past
Monument to Milton Ave.
and follow signs to home.
y Ν /POT OF WASHINGTON
Where a Home Is More
Than Just a House
In the panel to the left is an artist's glimpse
of a Wesley Heights home scene. Could any
number of words, however skillfully chosen,
more eloquently portray its charm? A visit
to any one of the houses listed below will
emphasize the desirability of residence in
this beautiful community.
4319 KLINGLE STREET N.W.
This home is on a splendid elevation, sur
rounded by lovely grounds. It contains 4 bed
rooms, 2 modern baths, ample two-car garage
—just the type of home for the family of
average size and means. See representative
at 3110 44th Street N.W.
3110 44th STREET N.W.
Attractive 3-bed-room house, large lot, fine
trees and lovely house. Only $12,750 with
reasonable cash payment and terms suitable
to buyer's needs. House open daily and
4413 KLINGLE STREET N.W.
Here is a charming little 3-bed-room home.
Just the size and type for small family—
ideal for newlyweds. Price and terms are an
inducement. House open Saturday afternoon
—Sunday 11 a.m. till dark. Other times by
W. C. & A. N. MILLER
1119 17TH ST. N.W.
xml | txt