davidaulloa/AmericanStories huggingface dataset:
The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1920-05-27

floor OF the House OF Lords there
was expressed the belief that the Bar
barry pirates would be such a men-
ace to the American merchant mar
inc that the United States would be
unable to conduct commerce with
Mediterranean ports. 1t was on.y
by paying tribute that American
ships secured immunity at first
which tributes were discontinued on
ly when President jefferson sent Am 4
erican battleships to the Mediterran-
can to wage war upon the BarbaTy
states II necessary.
The policy OF federal encourage
ment to shipping was continued I'M
til 1855 when, under the influen e
of southern statesmen, the last OF
the favoring laws was repealed. Dur
ing the Civil war the privateers de-
stroyed large proportion of the Am
erican ocean commerce. Subsequent.
efforts to enact subsidy or other en-
couraging laws were defeated and tho
American merchant marine contin-
ued to decline until the European
war gave the country an advantage
which resulted in the construction
Of fleet now second among the
/ nations OF the earth. In view Of ,our
past experiences, II may be safely as
serted that the present congress, ~
| dealing with the problem aS rebuild
ing the merchant marine. win have
the support Of the American people
in any reasonable measures for ,l:.
attainment Of that end. .. /.
The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1920-05-27

upon In war emergency to serve
the country in an absolutely nee ,s-
sary military service. Many years
later, after congress had enacted, In
1S45, a mail subsidy law to aid In
the establishment OF certain desired
ocean routes, President James X.
Polk commended that measure by re-
marking that the enlightened policy
by which rapid communication
with the various distant parts of tie
world was established by means oil
American built steamers will find an
ample reward in the increase OF GU,
commerce and in making our couc-
try and its resources more favorably
known abroad" He added, howey.
err. that the national advantage is
still greater in having our naval of
Ulcers made familiar with steam nav.
igation, and Of having the privilege
Of taking the ships already equipped
for immediate service at a moments
notice when the need shall arise.
The American mail susidy act was
made necessary by previous subsidy
acts enacted by Great Britain for tal
express purpose Of establishinetreg
ular ocean transportation servic
that would secure to that nation con
troll OF the principal markets Of tn
wbrld. '3' - 49,,
British jealousy Of the American
merchant marine was evident fron
the beginning. Britishs orders II
council. having the effect Of Law
made practically Impossible the sbiT
msnt Of American goods to BIRTHS
ports in American ships. On u
The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1920-05-27
NOT CE

The cleaning of the Logan North
Field Canal win com rience Thursday
morning. 'Aay aTth, 10y the old Des-
eret Mn by order ~ The board Of di.
rectors. : s. e,t
-" RICHARD YEATES;
Adv-5-29 .'" ''' Secretary.
The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1920-05-27

The chairman OF the House
committee On reform IN the civil
service 10 Representative Lehl-
bach. Rern'litHn. OF New Jersey.
lie h.- reported the pension anA
retirement bill for clerks and en-
,ployss In the classified ssrvies Of
iae government and expects 70 get
this hill through the House at a.
early date. a gimilar BIN he's
passed the Senate
Representative Lehlbseh repre-
sents the Newark district In Con.
gress. 10 . graduate OF Yale Uni.
versity And the New York Law
school and served three terms IN
the New Jersey Legislature before
coming TO Congress. ~. -,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-12-26
FEW PERMITS PAST WEEK
FOR NEW CONSTRUCTION
Rush of Christmas Activities Ap-
parently Interferes With Build
ing Promotion in the District.

In the rush of preparing for Christ
mas few Washingtonians obtained
permits last week for building or re-
modelling. The total amount involved
in the permits issued was approx
mately only $4,000. These permits
were:
Arcade Company. to repair building
14th street and Park road; cost. $500.
John Hanlein, to repair rear 1911
NJ street; cost, $3.50.
Rosie Frene, to repair 329 II street
northeast: Coz 800.
Sam Madeoy, to erect garage 613
Eye street northeast; cost, $4,000.
A. H. Brown, to erect garage rear
1927 Allison street; cost, $2S5.
H w. Davis. to erect garage rear
1871 Sth street northwest; cost. $3.50.
Ernest Fuller, to erect garage rear
1922 3Sth street; cost. $3.50.
A. E. Boston, to erect garage rear
TIA Sth street northeast; cost. $3.50.
Anne E. Head, to repair rear 142S
Clifton street; cost, 5000.
Mrs Lula Bryant, to repair 923 X
street southeast; cost, 5000.
Abe Leonard, to erect garage rear 1916
l. street; cost, s145.
M. Z. Burch, to erect garage rear 1928
II street southeast; cost, 500.
o. ]. Hughes, to repair rear 1914 Rock
Creek Church road: cost, 500.
H. A. Harding, to erect garage rear
422 Randolph street; cost. 1864.
David N. Rust. to build frame dwell
ing 925 Quackenbos street; cost. $4,000
Harry Davis, to erect garage rear 2l0f
18th street; cost. $1,000.
F. B. McGovern, to remodel 1927 Norti
Capitol street; cost, $3.50.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-12-26
SEVEN HOUSES, VALUED
AT $4,000, PURCHASED

Seven homes, totaling in valuation
S70,S00, were sold last week through
the office of William s. Phillips.
Lieut.. Alexander l. Smirnoff pur.
chased premises 1914 Argonne place
northwest. This is one of the seven
teen homes recently constructed by
Mr. Phillips on Argonne terrace. con-
sisting of six rooms and bath. inclosed
sleeping porch and a built-in heated
garage.
Carl L. Sadler purchased premises
1910 18th street northwest This is a
modern brick house, consisting of
seven rooms and two baths.
Mrs Lulu Marie Simmons sold prem
ises 2107 I'd street northeast, a modern
hon1e built by Mr.. Phillips.
MN Ida Miller purchased from Mar
shall ]. Maple the home at 4O4 M
street northeast.
Martin F. Wills purchased 1884 18th
street northwest from L. Loren Kee.
Mrs. Mary H. Rector purchased from
John 5. Berryman modern home To-
Gated at 3031 18th street northwest
Mrs Catherine Michigan sold through
this Office her home at 4618 18th street
northwest. modern brick seven-room
and bath house.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-12-26

centage of earnings of the CORPORA
ton as If 1t were free and clear of all
indebte dness
The market price of the common
STOCK VII! furnish means of deter
mining a reasonable return, based on
public opinion. which is the deciding
factor in all matters of finance
with respect to real estate, the
same result can be obtained by elimi-
mating the mortgage indie btedness and
cap!tallzlng the mortgage into the
equity. By this process you reduce
real estate and corporation securities
to the same common denominator and
formulate scientific basis upon
winch to arrive at reasonable re-
turn.
-i"If this process be accented as valid
an analysis of the net earnings of a
number of large corporations of diff
ferent classes, and a comparison of
these earnings with the market value
OF the stock, will give dependable data
IN establishing what net earnings
should be permitted real estate to
maintain at a given level
IN order to attract capital to real
estate investments a return must be
permitted equal to that which the
same amount of capital would earn in
other forms of security. Any attemnt
to force real estate to take a lower re.
turn than is received on corporate Sc
curItles of like character will be de-
structive and disastrous in the end.
Conclusions Reached.
The public quotations of common
stock in thirteen of the better known
and managed corporations in the
country indicate that the public has
SET market value thereon based on
an average of Ills per cent net
earnings on the entire capital of the
respective companies. In other words
in the greatest market in the world
with the largest amount of availa BILE
capital. itsis necessary on the aver
age for company to earn Ills per
cent, not on its common stock, but on
its entire capital, in order to main
tain the value of it's common stock at
par.
Applied to real estate, a reasonable
return would be represented by a net
value of a given piece of property,
after deducting all carrying charges,
including taxes and moderate al
lowance for depreciation. A reason
able return on an equity in real es-
tate should be higher. increasing
somewhat as the equity or margin of
safety increases. Given sound
basis for computing a reasonable re-
turn on free and clear real estate
one may closely approximate what
would be fair return on an equity
"The conclusions reached in this
study can be stated thus:
Major premise: Equity in real es-
tate is. essentially the same as COM
mon stock in a corporation.
Minor premise: A corporation must
earn Ills per cent on its entire capt.
tai before it's common stock will be
salable at par under current money
market conditions.
conclusion: Therefore. a reasonable
rent will give about 11.8 per cent net
income on the fair valuation of real
estate"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-12-26
OLD COLONIAL TYPE OF HOME =
BEING COPIED BY BUILDERS
--
House Which Conjures Up Pictures Of
Sunny South Finds Favor Today;
$4,000 to $4,000 Is Cost.

Every one admires the coIoLial type
of house. and the reproduction of some
of the most magnificent old Southern
homes which stood in the midst of
what were once prosperous pianta-
ton lands has met with signal sue
cess in home building circles. Today
We are showing house which at
once conjureS up vivid pictures OF the
warm sunny South in ''befo' de wah'
days. but which includes not only the
singula beauty and simplicity of line
characteristic of the home architec-
tufe of that time. but the most mod
ern and up-to-date labor-saving de-
vices and conveniences as well. Where
once masSa sent his thoroughbred
horses to be stabbed some distance
from the house by old Jerry. his MAJ n,
he now honk-honks up the drive and
puts away his car himself in the neat
little garage tucked conveniently away
at the rear of the house and under the
same cover. Having put his car away,
'massa" can step right on to the back
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-12-26

Realty Men All Sought Honor
OF Supplying Chief Execu-
tive's Home.

With the sale of the handsome resi-
dence at 23i0 street home of Henry p.
Fairbanks, to President and Mrs. Wilson.
real estate men relaxed from state of
anxiety in which they have been ever
since it was first limited that the Presi-
dent was on the market for a home in
Washington. Virtually every promi-
nent office having suitable residences
listed for sale experienced this feel
ing of anxiety at one time or another,
and all sought for the honor of sell
ing the chief executive ii home.
Hagner 4 Company Win.
Randall III. Hagner & Co.. whose
Office is on Connecticut avenue. finally
trlumphed in the competition with
their $ street offering. Other firms
owning or controlling properties in
which President Wilson manifested
interest at times are comforting
themselves on the fact that they were
IN the race. at least. Members of
the HaGner firm received numerous
phone calls of conEratuiation from
their friends and associates in the
real estate field here following an
nouncement of the sale
In their round of visits to various
exclusive residential sections of Wash
inSton. the President and Mrs. Wilson
We're attracted to number of fine
"S'i,hSH ~ Soou many were per-
sonally inspected. On virtually all of
these trips the advice of r. W. Boil
ing. brother-in-law to the President,
was at command. Mr.. Boiling is
familiar with property values in the
District of Columbia. and was able
TO render expert aid in the selection
OF a future home in the National
Capital for his sister and brother
in-law.
Many RumOrs Circulated.
News of the inspection by the Presi-
dent of various residences often led
TO we'll defined rumors that such
property had been purchased by him.
and in at least one instance negotia-
tions actually were begun. Among
PRESIDENT was considering favorably
was that of Representative Fuller of
massachusetts,, at 23d street and
wyoming avenue. When it also be-
came known that Secretary Tumulty
and DR.. Cary Grayson each had
bought homes here the inference was
drawn that they had secured the
properties for the President. Many
or the real estate men are happy that
the suspense is over.
There are other opportunities for
selling homes to distinguished per-
sons. to which real estate men now
Will divert their efforts. Vice Presi-
dent-elect Coolidge has yet to an
nounce that he has secured home in
Washington. This uncertainty ia
leading to numerous offers of suitable
apartments and residences
Suggestion Causes Activity.
The suggestion that Congress DIR
chase home for the Vice President
in the Capital has resulted in a num-
per OF advances to senators and mem
bers OF Congress in this connection.
1t is known that senators already
have looked the field over to a limited
extent. One Of The properties visited
is the legation building erected by
Mrs. John b. Henderson at 18th street
and Park road. On the other hand. the
opinion has been expressed that ir
congress authorizes such provision
for the Vice President the measure
Will provide that home be erected
by the government especially for this
purpose.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-12-26
TWO RESIDENCES SOLD
TO BE BUILT INTO OFFICES
Numerous Sales of Homes During
Week Reported by Moore
& Hill.

The residences at 1886 and 1910 Con-
necticut avenue northwest, above Du-
pont Circle, have been sold and win be
| remodeled at a later date into business
Dulloings: The sales were arranged
through the office of Moore & Hill
The property at 1886 Connecticut ave-
nue. was purchased by William A. Hill
and w. Wallace ChisweIl, who gave in
part payment some land on 18th street
near Upshur The building is of brown
tenants under lease. Upon expiration
of the lease the building will be convert
ed into store, it is announced
Inc residence at 1910 Connecticut
avenue is of the English basement type
1t was erected by the late Cen Alley
ander and was his home for several
years The property was bought by W.
Wallace Chiswell who is now having it
renovated. 1t is understood the new
owner will hold the premises for future
business purposes. This transaction was
mace IN connection with the office of
Randall II. Hagner & Co., who rep
resented the owners.
follow:
1927 Highland avenue. Cleveland Park,
$500.
ll31 10Th street northwest, to Gus
kosack for Lynda McCune, for $40. 900,
SUI Dumbarton avenue, to Charles
Heatn Tor Arthur r. Reeve, for 1000.
1915 18th street northwest. for Mrs.
Mary ]. Reidy to Daniel Reidy, for
$4,000.
3 Woodbine street, Chevy Chase. Md.
to Joseph B. Boone. for A. C Warthen,
for $4,000.
SAB Massachusetts avenue northwest.
for P. X. Chaconas to DIR. Salvatore
Floria, for $4,000.
637 and $50 4th street northeast, to
Mary Yoos for r. w. Beall, for s14, 900:
1921 S street northwest, to Lizzie GRAY
for local investor. for $500.
1907 Rosemary street. Chevy Chase.
Md. to John w. Lynch for Dwight
Jones. for $11.500.
BIS N street. for John w. Lynch to
Mrs Amelia Sherier. for $1,000.
767 Gresham street northwest. for
Harriet A. Mills, to local investor. for
$500.
705 M street northwest. to Morris
Edelman. for Charles c. Roberts and
Mary E. Gheen, for $780,
149 Adams street northwest, for Harry
NJ. BralOve to local investor, for Sc, 500.
1854 18th street northwest, to Ledyard
N. Brown for Shirley K. Osgood, for
$500.
2129 Bancroft street northwest. to
Mai. CT. Corbin. for Charles W.
Wright and Helen d. Wright, for s25, 900.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-12-26
11.8 PER CENT DECLARED
FAIR RETURN ON REALTY
w. Burke Harmon Answers Local Men,
Basing Figures on Comparison With
~ Other Investments.

Local real estate men who have been
contending that the only way to make
real estate investments attractive is
to assure the investor fair return
on his money are pointing to a state
ment in this connection by w. Burke
Harmon of the American Trust Com
pany, who treats the subject from a
purely economic point of view. The
gist of this argument is that a rea =
sonabIe return from realty is lis per
cent.
Mr.. Harmon bases his deduction on
the earnings of industrial companies
and the income demanded by the pur-
chasers of securities of these COM
panies. He says, in part:
"a great deal of discussion has
arisen as to what constitutes rea-
sonable rent. A rental that will yield
reasonable return on the value of a
given piece of real estate can only be
determined by consideration of and
comparison with the return on other
forms of investment of corresponding
attractiveness. Capital seeks the field
that yields the largest returns com
mensurate with the risks involved and
the amount of care entailed in the
management of the investment.
Subject to Same Market.
Real estate, on the one hand. and
stocks and bonds, on the other. are
constantly competitive for surplus
capital. The present superior at
Effectiveness of the personal property
investment, from the point of view OF
large earnings of marketability and
of freedom from managerial care. not
only makes large drafts on the sur
plus supply of capital, but will drain
investments already absorbed in real
estate, unless the earning from this
source is permitted to adjust itself
to accord with economic laws.
1t - INy
the same market laws as other Sc
curities It's value can be approx
mated by applying the same processes
of reasoning as are utilized in the
case of personal securities.
"Other things being equal, the mar
ket price of a stock will be stabilized
at point where the income derived
from it, by common consent, appeals
to investors as constituting d rea-
sonable' return on the investment re-
quired for the purchase. By apply
ing the same reagent to real estate
lines that should be conclusive in
furnishing us the standard of re-
turn by which to measure real estate
values at a given time.
Real estate and corporations are
usually subject to encumbrances in
the shape OF mortgages. bonds, notes,
preferred shares, etc In establishing
the amount of percentage of earnings
necessary to maintain a given yalne
for the stock equity in a number of
corporations it is~far more convenient
in fact. almost necessary-to elm
mate the consideration of encum-
ORANGES. Combine the underlying
securities issued by corporations with
the common stock and add to earn
ings and interest paid thereon; divide
the total net earnings thus determined
by the total capitalization of the
corporation, and the result is the ner-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-12-26
10000 HOMES NEEDED.

A minimum of 100000 homes in the
United States must be provided in
each Of the succeeding five years. ac-
cording to housing experts.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-12-26

room. which also has fireplace and
bay window. OF from this room is the
music room. which is an ide;il place for
informal entertaining.
Two of The bedrooms and bath
room upstairs are grouped in semi
circle around the stairway. while in
the front wing are TWO more bedrooms
and dressing room. which. il is suc-
gested, could be made into bath
room at little extra expense. The
semi-circular balcony adds 10 the at
tractivenesS of this design. The esti-
mated cost of this house complete,
sKhich is of brick and tile with stucco
finish, is between $4,000 and So, 900.
1t has a slate roof. which makes il fire.
proof.~-T first story, which is nine
feet high has oak lioors and finish.
while then second story. eight feet
high. has birch floors. with white en-
amel finish. Basement is eight feet
high. The c&nplete size of this house
Is forty feet Nm width by thirty-six
feet deep.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-12-26
HOUSE sURpLUs I'M 2 CITIES.

Questionnaires sent to secretaries
of commercial organizations in cities
of the eastern states disclosed that
only two cities, Toledo, Ohio. and
Wilmington. Del, have "A surplus of
houses. Closing down of war indus
tries in Wilmington left many homes
vacant.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-12-26

Now the vacuum subway express
has been invented. Working some
what after the fashion of the pneu-
matte cash carriers in use in depart
ment stores, the trains proceed from
one tunnel station to another at the
rate of $50 miles an hour
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-12-26
BODYBUILDING BUREAU.

At Pittsfield. Mass, the General
Electric Company has established a
home building bureau for the purpose
of encouraging employees to provide
themselves with homes.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-12-26
So, 500, 900 HOTEL OPENED.

A new $2.500.000 hotel was opened
in Flint, Mich. this week by the
chamber Of commerce of that city
The building, erected by business
men of Flint. contains 500 rooms and
baths
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-12-26

one steps within all sense of cold for--tS
mality raniShes and one is impresSed--$
AZ once with the utter charm enup
nominees of the arrangement of rooms
10 the right IL small lfbr1rN
lined with book shelves and a corner
fireplace To lena cheer. Beyond is the
dining room. also with a fireplace and .
large round bay window which its3s-,
not hard 10 picture a-hloom With
flowers. To the left is the LARGE living =
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-12-26
HOME-BUILDING CONCERNS.

Among cities and towns where
home building corporations have OPP
Grated sa:isfa ctorily are Reading.
Pa: Keene, n H.: Poughkeepsie. N.
Y: Tonawanda, n. Y; Gastonia. N. C.,
and Richmond. Va.
Iron County record. [volume] (Cedar City, Utah) 1893-1982, 1920-07-09
GOODYEAR PLANS
ANOTHER TOWN
Purshase Of Marinette, Ariz.. and
1900 Acres Strengthens Hold
on Tire Fabric Industry.

Purchase Of the town of Marinette,
hrizona, fourteen miles northwest of
'hoenix. and 1900 acres Of land ad-
acant, for cotton growing, has just
,een made by the Southwest Cotton
Company, a subsidiary Of the Good
year Tire & Rubber Company.
BY the completion of this deal, the
total amount Of land owned by the
company for raising long staple cotton
to be used in fabric for automobile
tires has been increased to $4,000
acres. More than 10000 acres ad-
ditional have been. leased for future
needs. OF the $4,000 acres controlled
about 10000 are under cultivation and
producing many thousands Of bales Of
cotton annually.
Homes similar to those built by the
company for its 1000 employees in
the towns of Litchfield and Goodyear
in the Salt River Valley will be erect
cd in Marinette for employees on the
new plantation.
To celebrate the acquisition of the
new tract, a barbecue was given re-
Gently by the company to allow its
employees to become acquainted with
the people of Marinette.
The pioneer work done by this COM
Iron County record. [volume] (Cedar City, Utah) 1893-1982, 1920-07-09

VIA acknowledgement 10 X. c. B.
Iron County record. [volume] (Cedar City, Utah) 1893-1982, 1920-07-09
GOODYEAR COAST
PLANT STARTS UP
Big Boost for Los Angeles. Which
Is Industrial Metropolis of
The West.

Los Angeles became the industrial
metropolis Of the Pacific coast few
days ago when the $4,000 900 new
factory of The Goodyear Tire &
Rubber Company of California
started operation just 10 months
after ground was broken.
The first tire was built by p. W.
Litchfeld, vice president and fac
tory manager Of the Akron company
who made the long trip west for that
purpose. Other high officials of both
Akron and California companies par.
ticipated in turning out the first
pneumatic.
Word was Immediately tele-
graphed to Akron, where whistles
were blown and fitting observance
made Of the interesting event. This
tire will be placed in the eompany's