The Washington times., 1934-05-21

the plan 4dSI - - S.-
week. Generally "'OA A
classified, the plan, prepared by
the National Emergency Council,
headed by Frank G. Walker, Will
provide:
Modernization Of existin g
homes, where such Improvement
will restore original value; stim-
ulation of new construction where
it is found necessary; elimination
Of hopelessly deprecated con-
struction as a means of encourag'
ing new building and repair and
repiSement of industrial and
commercial properties.
From the beginning, this paper,
through this column and else
where. has advanced the fact
that industrial recovery can be
attained only through building
construction. Testimony presented
to the Senate and House COM
mittees corroborated this Oft
repeated statement.
There are 13 million unem-
ployed persons in this country,
according to Labor Department
0stimates. OF the four million
families represented in the ag-
gregate, more than one million
include those who depend on
some building trade for livelihood
and are now on some form of
emergency relief.
Needed new conStruction-Small
homes, loan applications for
which have been made and re-
fused by private capital-would
place more than this number at
work again in each persons re-
spective trade. -.
It would take care of the other
three million families by increas
ing the demand and consumption
for lumber and other materials.
There is one peculiar thing
about this whole business, how
ever, which makes me think per-
haps I am merely theorizing
about the thing.
Why is it, with lumber mills
all over the country lying idle
and stacks of lumber mildewing
in the yards, brickyards full of
unsold bricks as they all claim;
millions Of unemployed laborerS,
both skilled and unskilled sub
sisting on Government dole-is
the price of material higher than
it was two years ago and labor
can demand still higher wages
although the rising prices are al
ready beginning to scare away
new home building?
The Gatti Brothers-Stephen,
Richard S. and Michael-have
moved up to 1706 K st. to join the
throng of real estate people al
ready there.
Their firm. the Guaranty Realty
Company, will specialize in rent
ing and leasing of residential and
commercial properties and in gen.
eral property management.
And Harvey A. Jacob has
joined up with the Floyd E. King
Company to help Fred A. Smith
out during the anticipated rush.
He is connected with the sales de-
partment.
Mr.. Jacob is another graduate
Of the Shannon-Luchs school for
realtors. He began his real estate
career with that firm in 1926
went into business for himself in
1929 and kept at it until his pres
ent change.
The Toledo Guaranty Corpora
ton, Of Toledo. Ohio. which re-
Gently opened offices here, has
acquired the services of John D.
Mattingly in its business property
department.
Mr.. Mattingly, one of the out
standing apartment house spe-
cialists in the country, has been
in the real estate business in
Washington for more than 20
years.
For a long time he was with
the N. L. Sansbury Company.
where he handled properties of
the Kennedy Brothers and L. E.
Breuninger. From there he went
to the John w. Thompson firm
to handle its investment proper
ties and then with the j. Dallas
Grady firm where he narrowed
his activities to apartment prop
critics. Many of the most noted
apartment house deals have