davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1932-11-12

Above: Attractive new home
just completed and opened for
inspection at 1911 Military Rd.
This home was designed and,
constructed by Edmond G. War
ther and is being placed on
the market by the Realty Asso-
ciates, Inc. It contains six
rooms and two tiled baths and
all the latest features, includ-
ing gas, heat and electric re-
frigeration.
Lower: The new group of
attractively designed detached
brick homes now being built
by the H. r. Howenstein Co.
at Twentieth and Shepherd SITS.
N. e. These new homes will
contain six rooms, two tiled
baths, sun parlors and the lat
est type of electric Kitchens.
The exhibit home of this group
will be completed and opened
for inspection within the next
10 days or two weeks.
The Washington times., 1932-11-12
|. L.P.SHOEMAKER
MOVES

After being located for Is
years at 14O7 New York Ave-,
the Louis P. Shoemaker real
estate office has been compelled
to move, their old offices GOV.
ering part of the site which
has been leased for the new
bus terminal. The realty firm is
now located in commodious quar-
ters at 1719 K st. N. w.
The late Mr.. Shoemaker estab-
lished his real estate business
in 1875, and since his death in
1916 the business has been car
ried on by Edgar D. Turner. who
had been associated with Mr..
Shoemaker for several years. It
is probably the oldest real estate
office in the city, laving been
in continuous operation for a
period Of so years.
The Washington times., 1932-11-12

The Washington Real Estate
Board Is preparing for a very
active year under the leadership
of H. Clifford Bangs. the newly
elected president, and Charles j.
Rush, the newly appointed execu-
tive secretary.
At the last meeting of the
board of directors the following
committees were selected to
carry forward the various activi-
ties Of the board during the
coming year:
Business Property Leasing
Theodore M. Judd, chairman; H.
Clifford Bangs, Morton Luchs,
Earl M. Macintosh and Carl G.
Rosinski.
Mortgage and Finance-Luther
Linkins, chairman; Arthur Carr,
Robert Montgomery, e. Quincy
Smith and DeVere r. Weldon.
Brokers'. A. McKeever, chair
man; Walter A. Brown, J. Yves.
ley Buchanan. Joseph A. Herbert,
jr., and j. Edward Schwab.
The Washington times., 1932-11-12
CLASSIFIED
Real Estate Board Acts on
New Committees

Property Management. F. NJ.
Bowie, chairman; Paul S. Ander.
son, Frank Bell, James Med.
Sea and Horace G.. Smithy.
LegiSlative-William l.. Beate,
William j. Flather, jr., A.. H.
Lawson, Percy H. Russell and H.
L. Rust.
Public Affairs--J. Lee Donnelly,
chairman: John H. Davidson,
George F. Hane, r. A. Humph.
ries, A. A. King, j. Leo Kolb, B.
H. Parker, Fred A. Smith, c. P.
Stone and Earl c. Lane.
Zoning-Paul j. Frizzel, chair
man; Morris Cafritz, A. @.
Hughes, Owen Howenstein, Mar
tin McInerney. Jesse w. Raw
lings and j. c. Weldon, jr.
Arbitration-Ben T. Webster,
chairman; George r. Linkins,
John F. Maury, James P. Schick
and Joseph d. Sullivan.
Alternates-Lloyd r. Turner,
Milburn j. Donohoe and George
Y. Worthington, jr.
Membership. H. Brodie.
chairman; L. T. Gravatte, vice
chairman; A. H. Borjes, j. Wesley
Buchanan, Frank M. Doyle, A. C..
Houghton, John M. Hudgins, c.
A. Metzler, F. Eliot Middleton. A.
T. Newbold, Milton F. Schwab,
Lansing Walk, Ralph Bangs and
Frank Sullivan.
The Washington times., 1932-11-12
LOAN BANK LAW
MADE PLAINLY
LEAGUE
President of U. S. Building
and Loan League Cites
Meaning Of Law

CHICAGO, Ill, Nov. 12-Flag-
rant misunderstanding Of the
new Federal Home Loan Bank sys-
tenn are corrected by Ward B.
Whitlock, Springfield, H., presi-
dent Of the United States Build
ing and Loan League, in a mes
sage to all building and loan asSo-
Citations in the country today.
The league president warned
the associations that emphasis on,
the direct loan provision of the
act, last-minute afterthought in
Congress, Is obscuring the real in
tent of the new banks and is re-
tarding their progress. Get the
truth across TO the people in your
community, even If you have to
hire hall and call mass meet
ing or advertise the facts in the
newspapers" was Mr.. Whitlock's
urge to the association executives.
The truth, ss Mr.. Whitlock ex-
plains, is that the Home Loan
Banks will form q credit system
for building and loan associations,
savings banks and insurance COM
panies, makir.g their mortgages
more liquid and enabling them to
relieve present stringent condi-
tionS by an inflow of additional
funds from the Home Loan Banks.
Thirteen years Of careful conSid-
Grafton developed this plan as the
most effective permanent aid to
the home owner, he said, the es-
tabhshment Of regional banks
along business lines, whose practi-
cality has been witnessed by the
success of a similar agency in the
commercial banking field, the
Federal Reserve System.
Not q Government Dole
Opposed to this rightful view
of the Home Loan Bank system
as a permancl- structure, placing
solid reinforcements behind ex-
isting home financing institu-
tions, we have the unwarranted
view that here Is the Govern
ment's dole to the home owner"
said Mr.. Whit1ock. This mis-.
understanding has grown UP be-
cause public discussion of the
system by those unfamiliar with
its growth and development has
emphasized the minor detail Of
possible direct loans from the
Home Loan Banks to individual
home owners, an idea which has
popular appeal to people who
have made no careful analysis of
the situation. Actually the direct
loan idea is entirely adverse to
the principles upon which the
rest Of the act is drawn. Exactly
four and one-half lines out Of the
18 printed pages of the Home
Loan Bank law are required to
cover this afterthought about di-
rect loans.
No Ruling Made
mo ruling has been made on
the subject by the Federal Board
to date. AS the law stands, it ap-
pears that in the case of such q
direct loan, the regional bank
could loan the home owner not
more than 40 per cent Of his
property value on en- amortized
mortgage, or not more than 80
per cent on a straight mortgage.
The law qualities such borrowers
by the phrase, ANY home c-ner
this act That implies restric-
tionS which the direct-loan spokes-
men do not seem to have consid-
cred.
The Washington times., 1932-11-12
Realtors Select Topics for
Midwinter Meet

Ten big topics now very much
under discussion among real es-
tate men are listed in the tenta-
tive plans for the midwinter
meeting of the National Associa-
ton of Real Estate Boards, lit
tie over two months ahead.
The meeting, the annual busi-
ness meeting of the association,
will be held at the Willard Hotel,
Washington, D. c., January IS,
26, q and %.
One full day of the meeting
will be given over to simultaneous
sessions Of the associations new
~ formed American Institute Of
Real Estate Appraisers and Of its
various specialized divisions.
The Washington times., 1932-11-12

Present large topics which it is
expected will be presented to the
general sessions by outstanding
speakers include:
/. Slum clearance and rehabili.
tation of blighted districts.
2. Government loans for hous'
ing projects.
8. The Home Loan Bank sys
tenn.
4. Chain store leases.
S. Getting accurate facts about
real estate.
g.. The mortgage situation.
Z. Strengthening real estate
boards and State and national
real estate organization.
! 8. A tax policy for real estate
9. Progress in, home building.
10. The outlook for real estate
The Washington times., 1932-11-12
One Job O. Year Good
Wnu to MOderpize

Many home owners have dis
covered that it is not necessary
to wait until they have saved a
large sum of money before they
begin to remodel or repair their
homes. BY doing a little each
year they can pay for the work
from their incomes and enjoy the
improvements as they go along.
The Washington times., 1932-11-12
gaH. -ss.a---".
Own
Your 4:
!. Home e
For Good Citizenship
Compulsory Saving
0Id-Age Insurance
Elk. ALLEN
- Real Estate Editor
The election is overt

4HS SL6CCAOu lS OVcLt
We car. now settle down and
look after our own affairs for
the, next four years, and the
success that we make individu-
ally rs citizens of this great
country will, in a large measure,
influence the success which we
make as a nation throughout
the coming administration.
One bf the greatest means to
successful family life and one Of
the things which make a. great,
successful nation is+hon1e own
ership.i =
with Few exceptions, every
celebrated patriot and outstand-
ing citizen throughout the his
tory of our nation owned his
home. - ......,t
The greatest material monu-
ment to. the memory of our first
President is not the great shaft
In the midst of our city, but the
beautiful home which he owned
and loved Mt. Vernon.
The English guns which had
no respect for our White House
or Capitol, had profound respect
for this leading citizens HOME.
After each journey to aid his
country either as a soldier or
statesman, this great man was
always glad to return to the
quiet of his beautiful HOME.
Good politics is a great game,
but good citizenship is the bull
wark of the nation-and no
other influence can do as much
to create good citizenship as, the
ownership of a HOME. ~
Home ownership provides an
anchorage which keeps family
from drifting, aids to compul-
sorry saving and provides old age
insurance. e 49,.
Home ownership aids in build
ing up a community and max
ing it q pleasant, worthwhile
place in which to live and rear
o family. It makes for greater
interest in civic affairs, in good
government and in better living
conditions. ,s ~4s
A home owner has greater
pride in his, city, greater inter!
est in its development and
. greater respect for his neighbor,
and these are the things that
make for good citizenship.
. OWN YOUR HOME!
Help provide America with
the brand of citizenship which
takes keen interest in it's up
building and progress. -
Help the wheels of industry
start turning. Every home
purchaser means that another
viii be built, This will pro-
vide work for many workers,
material men and factories,
thus aiding in, the early, re-
turn Of prosperity.
And the wonderful thing
about purchasing a home now
IS that you can buy it at less
cost than for many years past,
and cheaper than you can in
the future, as material prices
are now showing an upward
trend. ..-
Investigate the homes offered
by the reputable realty. dealers
and builders advertised else
where on this page. It is pos
sible that you may be able
to secure just the kind of a
home you want at the price
and on the, terms to suit your
income, aE
The Washington times., 1932-11-12
LEASE ACTION IS
OUTLINED

Plans for informing owners of
commercial properties in every
principal city of the United
States as to the essential facts
of the situation where there is @
threate1.- voluntary bankruptcy
of common chain store tenant
will be outlined at meeting called
in Chicago November IS by the
National Association of Real
Estate Boards.
The Washington times., 1932-11-12
Contracts Vary in
Real Estate Sales

Different tyrcs Of properties re-
quire different provisions in sales
contracts. Al ,ment to pur-
chase an apartment house. office
building or business property, all
require unusual and special pro.
visions radically different from
those required in the purchase of
single residential lot or a dwelling
Evening star., 1932-03-06
COTTON PRICES MOVE
IN NARROW LIMITS
Rallies Fail to Hold as Week End
Profit Sales Prove
Heavy.
By the Associated Press.

By the Associated Press.
NEW YORK, March 5.-Price move
ments in cotton were narrow today
Small opening declines were followed
by rallies on reports OF firm spot
situation, but prices eased again later
under Southern selling and week end
realizing. May contracts, after selling
up from 7.06 to IT'S, closed at TOO, with
the market closing barely steady net
unchanged to points lower.
The opening was steady at decline
of to 5 points under Southern selling
and liquidation promoted by weakness
in Liverpool and reports Of decline in
the Alexandria market for Egyptian
cotton. July sold of to 7.24 and Octo-
Der to 7.46 under the initial pressure,
but this was only partial response to
the decline in Liverpool, and prices soon
steadied on trade buying and covering.
This was accompanied by the reports
of steady spot situation in the South,
and the early action of the stock mar
ket may also have been factor. Offer
ings were not particularly heavy, after
the initial selling had been absorbed, and
prices worked up to 7.31 for July and
7.53 for October during the middle of
the morning. or about 3 to 5 points
above Fridays closing quotations. The
offerings increased, with closing quo
taticns showing reactions Of 4 to 8
points from the best.
Reports of lower temperatures with
rains in portions of the Western and
Central Belts were considered unfa-
vorable for the movement of cotton
and farmwork In these sections.
Liverpool cables attributed the de-
cline there to local and Bombay liquida-
ton and the weakness in Alexandria
where the futures market for Egyptian
cotton was to 48 points net lower, with
Ashmouni showing losses Of 80 to 38
points.
Sales Of fertilizer tags in the 13
Southern States for the month of Feb
ruary, according to report published
this morning, amounted to 60 per cent
of last year. The amount of cotton on
shipboard awaiting clearance at the end
of the week was estimated at 217,OOO
bales against 1l50O0 last wear
Evening star., 1932-03-06
H|GH-GRADE BOND
ISSUES IN DEMAND
D. S. List Continues to Move
at Higher Prices-RaiIs
Irregular.
BY VICTOR EUBANK.
Associated Press Financial Writer.

Associated Press Financial Writer.
NEW YORK. March 5.-The bond
market maintained its quiet strength
today and high-grade securities espe-
cially, were in demand at moderately
better prices.
Some sections displayed an irregular
trend at times, but there was a scarcity
Of offerings at lower quotations. Spo-
radio declines in issues that have re-
Gently recorded sharp advances were
attributed to week end profit taking.
United States Government obliga-
tions were active and higher. All of
the Treasury list was in demand and
some of them reached new highs for
the year Liberty first AIS and fourth
4As extended their rally.
Most of the local traction liens
climbed to higher levels, some of them
ascending to peak prices for 1882. Man
than a point and Third Avenue re-
funding As gained more than 2.
There were ups and downs in the
railway department. Atchison As, Ca
madam Pacific debenture as. Chicago &
Northwestern 434s. Great Northern
41tA New York Central IS and South
ern Railway Is advanced moderately
Erie IS and Missouri Pacific IS were
heavy
The utilities and industrials gener-
ally were steady. Among some of the
modest gamers were American & For
eign Power IS, Detroit Edison l2s,
North American SIS, Utility Power &
Light debenture Sis, International
Match IS and Western Electric 5s.
Argentine bonds continued the strong
feature of the foreign group. British
512s and most of the German loans ad-
vanced. Other changes we're limited
mostly to fractions. japanese issues
were somewhat lower in dull trading
Evening star., 1932-03-06
Special Dispatch to The Star

Special Dispatch TO The Star.
NEW YORK. March 5.-A faint line
Of resistance has of late appeared in
the market for real estate securities
This Is the first encouraging sign that
has developed for several years In a
group in which defiation has been the
equivalent of that in listed corporation
bonds.
The average bid price on list Of rs
New York real estate bonds, carving
coupons ranging from to per cent, is
now approximately 38. This represents
a depreciation of so per cent from the
original selling values. 1t covers mort
cages on hotels, apartment houses, Of
flee buildings, theaters and clubs. Not
few Of the bonds involved are in de-
fault. In others suspension of interest
payments is pending. A portion Of the
issues are in process of reorganization
and already the terms Of their exchange
into new securities have been indicated.
Second and Third Mortgages.
With the better tone in such issues
there is also evident gradual clearing
up of the mass Of second and third
mortgages which were imposed on prop
critics during the boom period and where
the speculative element has been elimi-
mated. Institutions that make large in
vestments in real estate such as insur-
ance companies and savings banks say
that they are now dealing with prop
critics that are in strong hands. While
they expect additional foreclosures, these
will not involve the losses that have
already been taken and written of on
the more inflated type Of real estate.
Sentiment with respect to the general
real estate mortgage situation has been
Evening star., 1932-03-06
REAL ESTATE MORTGAGE BONDS
SHOW IMPROVED PRICE TREND
New York Realty Securities Are Slig ightly
Firmer After Long Period of DeAa-
tion-Losses Written OFF.

helped by the formation of a strong
committee to deal with defaulted bonds
and to take these out of the hands of
promoters Of the original issues. A
great deal of quiet work has been done
in this connection. While there has
been no pool formed to support the
market for real estate issues, as was
done In connection with corporation
bonds. the effort to obtain an equitable
settlement for a large number of dis
organized and demoralized bondholders
has materially benefited the entire real
estate mortgage situation.
Advantage also has been secured
through the more liberal provisions of
the new banking law, which are ex-
pected to give additional values to real
estate securities that are in the frozen"
class, but which may now be treated
with greater consideration
The change in attitude toward real
estate securities with a public market,
as well as to direct mortgages, reflects
improvement in sentiment just as it
does in listed corporation bonds. It
does not suggest any improvement in
the earnings Of properties involved, for
these In many cases are still decreasing
rather than increasing since rents are
being adjusted to conditions of supply
and TO the ability of the tenant to pay
1t IS all a change in attitude or in
mood, rather than in intrinsic values.
Supplementing this, however, is the
feeling that, with a recognition that
commodities, securities and business
generally have been debated as much
as they were inflated in 1923 and in
1929, there will gradually be like ap-
probation on the part of the investing
public of real estate values.
Bargains in Market.
These have been abnormally de-
pressed, SO today there are bargains in
the market for real estate securities, as
well as in property that has not been
promoted by high-pressure statesmen,
the equivalent of those spread over the
railroad bond list month or two ago.
While progress here is likely to be slow
and at times imperceptible, there is
reason to believe that among the sew
eral constructive developments of the
early part of this year will be check
in the defiation of real estate securities
and of real estate values. The impor-
tance of this in re-establishing conf
dence in the entire business and credit
situation is obvious.
(Copyright, 1922
Evening star., 1932-03-06
WESTERN MARYLAND R. R.
SEEKS BOND AUTHORITY

Western Maryland Railway has asked
Interstate Commerce Commission au-
thority to issue nominally s1,384,0 of
its first and refunding mortgage $40
gold bonds, series A. dated July l, 1927.
The road will hold the bonds in its
treasury subject to further order of the
commission before selling them.
Evening star., 1932-03-06
D. c. BANKERS PUSH
PLANS FOR ANNUAL
GATHERING IN JUNE
Continued From First Page }

tCOntlnueQ From F1rSt Page.)
fuel and heavy clothing costs have been
relatively low, thus allowing a larger
proportion of reduced incomes to 90
for food, housing and other necessary
expenses.
Unemployment is widespread among
all classes OF workers, probably being
more extensive in building trades and
industrial groups than in other fields.
There is less unemployment in tobacco
and textile fields than in others, al
though many textile workers are work
ing on reduced time schedules.
A. T. & T. Earnings OFF Slightly.
Earnings OF American Telephone &
Telegraph Co. in the current quarter,
usually the smallest revenue producer
OF the year. are not quite covering the
$2.25 dividend requirement.
There has been no consideration of q
change in the dividend rate, according
to the Wall Street Journal. The COM
pany had the large total of $289, ,000, 900
cash assets at the close of 1881, and a
surplus of 1926, ,493, 1926 at the close of
1881, so that unless a radical decline
in business should occur it appears
likely the management will dip into the
company's large resources to some small
extent 10 take care of the dividends for
the time being
On the 1868, 900 shares outstanding
on December 81, 1881, largest total in
the company's history cash assets ag-
gregated about SIG a share, the Journal
comments
Evening star., 1932-03-06
WOOLWORTH SALES.

Sales of the F. w Woolworth Co. for
February totaled $18,793,418, compared
with sig, ,385,731 in the same month last
year, a decrease of 3 per cent. Sales
for the two months of the year were
At per cent below the corresponding
period of 1881,
Evening star., 1932-03-06
G. C. MURPHY SALES.

c. c. Murphy Co. reports total sales
of 81 ,221 .t02 for February, 1882, against
$l,204 1873 for February, 1881, an in
crease Of IA per cent. Sales for the
first two months of 1889 aggregated
s2,332,195 against $2,425,50 for the
same period last year, decrease OF 3.6
per cent.
Evening star., 1932-03-06

group in the industrial list to show
more than a fractional change. Cop
per prices receded to new low point,
influenced by the fact that even with
the low rate of production that is in
effect, the present drastically low rate
of consumption has made new agree
ment among producers imperative.
Anthony, lead, silver and zinc also
depressed this group to a new low
level.
Agricultural Prices.
Agricultural prices dropped to new
low point after recording stability for
a period of several weeks. The grains
were all lower with the exception Of
rye. Although cotton reached the high
est point in the present movement, yet
the advance was not sustained.
Most important price changes in the
McGill weekly commodity price indices
1926-100.
Evening star., 1932-03-06
FRENCH REDUCE DEBT
$500, 600, 900 IN 5 YEARS
BY A. r. DECKER

Special Gable to The Star.
PARIS, March 5.-During the last
five years the French public debt has
been reduced by about $500, ,000, 900,
with corresponding reduction In fixed
charges, computations today reveal.
OF the debt reduction, the figures
show, $32,0oO,000 is accounted for by
amortization of the per cent and 7l2
per cent loans contracted in the United
States. 1t is thought that other French
purchases of French dollar bonds have
been made.
The $24,00O,000 French loan for
Czechoslovakia, to be guaranteed by
the Treasury, is about completed Part
of the loan was originally intended to
be used to retire Czech loans con-
tracted in the United States and reim-
bursable in February. but the changed
financial conditions will probably re
quire the CZechs to use all the loan
at home to refund the Czech govern
ment borrowings at the national bank.
Copyright, ls32)
Evening star., 1932-03-06
CHICAGO DAIRY MARKET.

CHICAGO, March S tPD.-Butter
1898 tubs; steady; creamery special.
1913 score. 2lo4a22; extras t92 score)
2l14; extra firsts C90-9l score), 20l2a
2O2t: firsts 1888 score), 20a20l4 sec
onds (86-87 score), 19al9l2: standard,
go score centralized carlots), 81. Eggs
14,9O7 cases; steady; prices unchanged
Evening star., 1932-03-06

81 oF< Ionlte Prod Corp Cd K 283 gS SIS S7s 2
Dividend annual cash
payments based hayeary declarations
'Ex-dvdend trading less than 100 shares Partly
extra Plus 40 Paid this regular rates
ePayabe in Plus So in stock Plus 40 In
stock Plus special Plus SEE IN stock
Paid last regular n Plus stock Plus
2lan n