Evening star., 1933-05-27

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for in the face of impending con
The central theme of the conven-
ton. it is expected. will revolve about
A new question is thrust into the con-
vention program by the President S
action in deciding that the United
States should go off the gold standard
by statute. The meaning of this ac-
ton on real estate doubtless will be an
important topic of the meeting.
Woodin Settles Problem.
Another problem which has been
before real estate men since the enact
ment of recent legislation dealing with
money seems to have been settled with
the statement by Secretary Woodin of
the Treasury Department yesterday
clarifying the effect of this legislation
on the gold clause" in public and
private obligations
The question had been raised as to
what course the debtor who wishes to
make legal tender may take in ordinary
obligations and in contractual obli-
of the present standard of weight and
fineness''
The administration, Secretary Woodin
said. is supporting resolutions in Con-
gress which would make clear that
future obligations, public and private
shall not contain the gold clause. He
said the Thomas amendment to the
agricultural relief act has made all
coins and currencies of the United
States legal tender. for the payment of
all public and private debts.
Meeting in the face of a national
movement toward low-cost home pro-
%yrnf hn rs,in
turn attention toward the organization
of all business groups and forces in
terested In the advancement of home
ownership and to guide this move
ment for construction of homes.
Planning To Be Stressed.
In lending its support to this trend,
the national realtors group will place
emphasis on homes planned with the
neighborhood as a unit, planning of
more satisfactory community life and
kindred subjects.
Sessions of the convention will be
devoted to discussion Of present-day
real estate problems In the fields of
mortgage finance, property manage
ment, farm land, appraisal and the
like.
Henry c. Zander, jr, president of the
Chicago Real Estate Board, will make
the address of welcome An inspection
trip of selected Chicago apartment
buildings and other income properties
is being arranged. A like f1rst-hand
study of the Chicago clearing manu-
featuring district and of its central
manufacturing district will be on the
program. Demonstration appraisals of
selected Chicago properties will be an
all-day feature of the convention,
staged on the day preceding the OPEN
ing of the general sessions, under the
auspices of the American Institute of
ReaF Estate Appraisers Of the Asso-
citation.
Philip Benson, president of the Dime
Savings Bank of Brooklyn, will address
both the general convention and the
specialized mortgage and finance divi-
son on the work of mutual savings
banks as an aid to home ownership
and real estate financing.
Wenzlick To Be Heard.
Delbert s. Wenzlick president of
Real Estate Analysts, Inc. st. Louis,
which institution is engaged in collect
ing. analyzng and putting into use
real estate data from number of i'm
portant cities of the country, will ad-
dress the general convention on long
trend movements in real estate and
the relationship of real estate to other
factors of the business cycle.
J. Soule Warterfield, chairman of the
recent National Conference on the Re
newal of Home Building, who was au-
thorized by that conference to appoint
a committee Of Is to work out plan
for a proposed permanent National
Housing Conference Board, will be an
other speaker at general sessions.
Clifton r. Bechtel, chairman OF the
Zoning Committee of the Chicago Real
Estate Board, will talk on Rebuilding
the Blighted Sections of Our Cities. )"
Hayden B. Harris. vice president OF
the Harris Trust and Savings Bank.
Chicago, will be the general convention
speaker on Garden Homes"
General sessions will open wednesday
morning, June IA. and will continue
through the mornings Of June is and
16.
Meetings Of the Executive Committees
OF nine specialized divisions Of the
association will open on the afternoon
Of Tuesday, June IA, and will continue
through the afternoon of June is. The
American Institute of Real Estate Ap-
praisers will, however, in addition, have
a meeting featuring demonstration ap-
praisals of actual Chicago properties
scheduled in advance of the general
sessions Of the convention. This meet
ing will be an all-day meeting Tuesday,
June 13.
The washington Real Estate Board
Is making elaborate preparations for
participation in the convention. H.
Clifford Bangs, president Of the board,
will head large delegation from the
CAPITAL. Clarence Donohoe is chair
man of the local groups Convention
Committee.