davidaulloa/AmericanStories huggingface dataset:
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-11-27

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Evening star., 1935-02-09
BALTIMORE SHOWS
DROP In BUILDING
January Volume Slightly Under
Same Month in 1884 in
Valuation Permits.

BALTIMORE, February 9.-Build-
ing operations in Baltimore last month
were slightly smaller in volume than
in the corresponding month of last
year, according to the valuation of
permits. New improvements. addi-
tions and alterations, for which per-
mits were issued last month, reached
a total of 1912, ,120, as contrasted with
$445,080 for January, 1884. The total
for last month also was below that
for the preceding month of December
when the valuation was $390,200
New improvements last month were
valued at $119,800; additions, of which
there were II, totaled $73,100, and
273 alterations amounted to Silt 200.
Home construction was represented
by permits for only eight dwellings,,
valued at $4,000.
Evening star., 1935-02-09
2-YEAR MORATORIUM
MEASURE OPPOSED
Realtors and Savings Banks
Fight Suspension of Mort
gage Foreclosures.
Special Dispatch to The Star.

Special Dispatch to The Star.
BALTIMORE, February 9.-Repre-
sentatives of the Real Estate Board Of
Baltimore, savings banks and real
estate companies appeared before a
legislative committee at Annapolis this
week to oppose measure which would
declare moratorium for two years on
foreclosure Of mortgages on which
taxes and interest have been paid.
C. Philip Pitt, representing secre-
tary of the realty board, told the COM
mittee he felt the measure would do
harm now by drying up the mort
gage Market" which. he said, Is "just
beginning to open up."
IT think passage of such a measure
would be an open invitation to people
able to pay to take two-year holt-
day." Pitt said. IF it is passed, saw
ingS institution would withdraw from
the mortgage field, and without them
recovery will be hindered."
In answer to a question, Pitt said he
did not know of many foreclosures.
Most of the companies, he said, were
going along" with mortgagors.
Evening star., 1935-02-09
BUILDING REVIVAL
DUE TO CONTINUE
Merchandising Specialist
Sees Signs of Renewed
Activity.

Evidences Of substantial improve
ment in building are cited by Stanley
B. Wildrick, specialist in building
product merchandising, in an article
in the current issue of Advertising and
Selling Magazine.
THE building giant, long hibernat-
ing, has at last revealed indisputable
signs of renewed activity" says Mr..
Wildrick. Building statistics them
selves show favorable developments;
studies by governmental and private
agencies reveal an almost alarming
need for new buildings of all kinds;
and the active men in this business
basing their judgments upon long
years of experience, are certain the
corner has been turned and that we
are on our way to a long term of
building activity.
"All businesses have cycles" he
points out, "and the building industry
is not the least definite chart-maker Of
the lot. The building boom Of the
1905, the marked progress of home
building during 19O0-19l0 and the big
boom of l922-1928, all contribute evil
renee that building activity comes in
cycles. The outlook now is on long
term basis, not merely expectations for
1885.
"One other thing which must be
kept in mind is the vast number Of
changes In this field during the last
few years. Lumber dealers, for in
stance, numbered about 26,000 in 1929,
whereas only $1,000 are in existence
today; of this 81 900 about 80 per cent
are new owners since 1929. Architec-
tural Offices have an annual turnover
of approximately 25 per cent even in
normal times, so a bare nucleus of the
1929 architects are doing business at
the old stand today. 1t would also be
my opinion that less than half the
good contractors of five years ago still
remain in business and have good
credit ratings. All in all, the building
industry has thousands of new faces
in it: these are the men to whom the
public looks for guidance in meeting
home building and repair problems.
Evening star., 1935-02-09
BILLS TO EXPAND
SCOPE OF HOUSING
Various Measures Are In.
troduced in the Senate
and House.

The scope Of Federal Housing Ad-
miniStration activities would be ex-
panded considerably under bills intro
duced in the Senate and House Thurs
day by Senator Fletcher, Democrat, Of
Florida, and Representative Steagall,
Democrat, Of Alabama.
Perhaps the most important change
advocated is one that would amend
Title III Of thes Federal housing act,
decreasing the capitalization Of pro-
posed National Mortgage Associations
from five million dollars to two mil
lion. The object of the mortgage as
sociations, which would be backed by
private funds, would be to furnish
liquidity for insured mortgages.
The mortgage associations would
trade in the insured mortgages which
are being made under Title II of the
housing act. Building men and
bankers alike have cofftended that the
delay In setting up the mortgage as
sociat1ons has retarded the new build
AlS P1OSi dLu HllAC4l II ID bcI1cfcQ lIlS
insured mortgage would foster. The
high capitalization Of these mortgage
associations-flve million each-pro-
vided in the housing act, has made it
almost impossible to establish them
1t is believed this phase of F. H. A..
program will be considerably accele-
rated if the capitalization is reduced
to two million dollars.
Another important change in Title
III called for in the bills would author
ize the mortgage associations to issue
debentures up to Is times the aggre-
gate par value Of outstanding capital
stock, instead of up to 10 times value
of outstanding stock.
An important change to Title J.
dealing with insurance of moderniZa-
ton loans, would enable the admins
tration to insure loans for apartment
houses, hotels, Office buildings, hos
pitals, commercial buildings, manu-
featuring and industrial plants, in
Guiding installation of new permanent
equipment and machinery. This
would be done by providing for the
insurance of modernization, or prop
erty repair and alteration loans, up
to $5O,000, instead of $4,000 as pro-
vided in the present act.
Housing act changes were included
in the bills for H. o. L. c. extension
Evening star., 1935-02-09
Residential Property Values
Are Stabilized by III. o. L. c.
Federal Bank Rerie,U Details Benefits
Deriued Through the Remoual of Dis
ressed Holdings From Forced Sale.

The extent to which residential
property values in the United States
have benefited by the Home Owners
Loan Corp. during the past 16 months
is indicated in an article in the cur
rent issue of the Federal Home Loan
Bank Review.
With close to 100000 distressed
properties removed from forced sales,
and values fixed on the basis of a
new long-te term loan, the tremendous
stabilizing influence of the corpora
ton upon real estate is evident. &C
cording to the review. 1t is shown
that to date the corporation has COM
pleted detailed appraisals on more
than million homes, on nearly 8O0.-
900 of which refinancing loans have
already been granted. The corpora
ton has thus placed value on one
out of every ten owner-occupied urban
homes in the country.
AppraiSals Present Problem.
When the Home Owners Loan
Corp. began lending, with the power
to loan up to 80 per cent of its own
valuation of the properties. appraisals
presented one of its greatest single
problems, the article states. The
corporation was under obligation,
first, to the Government as owner of
the corporation; second, to the home
owner in distress, and third, to the
real estate market, present and future.
This condition required the estab-
lishment of sane, permanent values
higher than knock-down depression
prices. yet uninfuenced by run
away boom-time figures. There was
the opportunity to eliminate for the
future the wide swings that have
characterized home real estate prices.
There was the urgent necessity to
build up a competent Nationwide
appraisal personnel.
Around a nucleus consisting of the
membership of the American 1nt1-
Evening star., 1935-02-09

tute of Real Estate Appraisers, the
corporation, from the ranks of the
real estate business, has trained and
developed a qualified staff of ap-
praisers which, at its peak. numbered
several thousand, most of whom were
independent fee appraisers. A group
Of experienced regional appraisers is
maintained in the field investigating
appraisal personnel making spot
checks, and reviewing valuations
An additional check on accuracy and
fairness is provided through out
standing local advisers.
New System Advantageous.
The establishment of a new. more
exact science of appraisal and the
attainment Of professional standards
by large body of appraisers are re-
garded as highly advantageous to the
future of sound real estate invest
ment in this country.
Values are determined from three
foctors, first, present market value;
second. replacement value minus de-
probation, and, third, capitalization
of average annual rentals over the
past 10 years. The two latter ele-
ments insure appraisals materially
above the depression market prices.
Loose appraisals in the past have
been costly" the article continues.
With the revolution in our mortgage
practices which is now in process
they would be fatal Emphasis from
all sides is on the long-term amor
tized mortgage. representing a high
enough percentage of the value of the
property to eliminate the need for a
second mortgage. This is the corner
stone of the Governments home
financing program. Home owners
are demanding it with increasing in
sistence. A high percentage of value
can be loaned with safety only when
that value has been carefully de-
termined."
Evening star., 1935-02-09
better HOUSING
PARLEY FRIDAY
Low Maintenance Cost in
Long-Term Financing to
Be Discussed.

The Importance Of low maintenance
cost In the long-term financing Of
DIV ellings is one Of the important
subjects 20 be discussed at the Bettey
Housing Conference in the Willard
Hotel next Friday night.
Mark Beemand, engineer who has
been following very closely trends in
up-to-the-minute house construction
throughout the country, is in charge
OF arrangements. The conference is
sponsored by the Portland Cement
Association.
Durability Important.
'"The durability of house, especial
ly in the low price class, is more i'm
portant than the initial cost" Mr.
Beemand said yesterday. Many a
house which appeared originally to be
very desirable because of its low cost,
has turned out to be actually expen-
sive because of rapid deterioration due
to careless construction. A home
owner who was able to finance a
home at modest initial cost often
found himself swamped with high up
keep expense. where building mate
rials and methods of construction
were not given proper consideration.
To-day, durable, fire-Safe conStruc-
ton can be secured for little more
than other types as a result Of de-
velopment work in the low-cost hous-
ing field which has been pushed Wig
orously all through the depression
period. 1t is now possible to produce,
in the low-coSt bracket, ivable homes
which are fire-safe and termite proof,
with a low maintenance cost and in
Surable at a moderate rate. Such
dwellings will come within the long
term mortgage requirements of the
national housing act because Of their
comparatively low rate Of depreciation.
Made Thorough Study.
D. r. Collins of Chicago, who, with
j. K. Gilchrist, District director, Fed
eral Housing Administration, and
Mai. Charles c. Anthony, special
assistant to director, Industry Di-
vision, Federal Housing Administra-
ton, will be a speaker at the confer
Evening star., 1935-02-09
Rust Brings Heavy Loss.

An annual loss Of more than ST.
600, 100000 is caused by rust, accord
ing to an authoritative source. The
use of -corrodible materials in
roofing repair, replacement Of pipes
and fixtures. insect screens, lighting
fixtures is suggested as a means Of
overcoming losses from rust and cor
roSion.
Evening star., 1935-02-09
RADIO AIDS HOUSING
Broadcasting Companies Cooper
ate With Administration.

The Federal Housing Admiristra-
ton is receiving SO per cent co-opera-
ton in broadcasts from the radio sta
tions Of the United States, according
to statistics compiled by the Federal
Housing Administration.
The 2 per cent who are not CO.
operating, it has been found, are in
sympathy with the program. but are
restricted from lending assistance due
to limited air time or some similar
cause. Since the inception Of the
better housing program there have
been $4,000 spot announcements and
26,637 broadcasts of Federal Housing
Administration programs, addresses,
playlets and other messages.
A widespread radio series is now
in effect to carry on into the Spring.
Evening star., 1935-02-09

ence, has made a thorough study Of
the newest design trends and con-
struction methods in the housing field.
Much of the data he has gathered
has to do with the building of low
cost homes which embody the char
acteristics of being livable, fire-safe
and with low rate of depreciation.
Mr.. Collins will show slide pictures
illustrating recent developments in
loW-cost housing. There will also be
complete exhibits OF q wide range Of
technical literature on various new
types and methods Of flre-reSistant
house construction.
Evening star., 1935-02-09
PROPERTY LEASES
Firm Of r. r. Sari Consumated
$1O5,O 900 Recently.

A total Of $105,000 in property
leases has been consummated by the
real estate firm of Fernando r. Sari,
1869 Park road, within the last few
weeks, it was announced today.
Sari said that 3114 Fourteenth
street has been leased to Abraham
Beyda for Sebastian P. Ambrogi
Other leases are as follows: Store in
the 26OO block of Connecticut avenue
to Sanitary Grocery Co. for Andrew
A. Anselmo; 3040 Fourteenth street,
to Vita Health Food Co., for Mollie
B. Weyman, and 231 e street, to the
Great Atlantic g. Pacific Tea Co., for
Charles Guilian.
Evening star., 1935-02-09
BUSINESS IMPROVED

Word is received by the Federal
Housing Administration from Albu-
querque, N. Mex, that business "con-
tinues better than 1929, and no work.
men are available" Building per-
mits for December, 1888, were $50
39l, as compared with a total of $780,
686 for December, 1884. Eighty per
cent Of the building permits granted
in 1884. it was said. were made since
the inception Of the better housing
campaign.
Evening star., 1935-02-09
FARM NEED GREAT
FOR MODERN|z|NG.
Around Billion Dollars Be-
Iieved Required for Build
ings and Equipment.

Around q billion dollars is the esti-
mated need for undermining the
homes, barns, other outbuildings. wells,
windmills, fences and necessary per-
manent equipment on the farms Of
the United States, most Of which may
be financed by modernization loans in
sured by the Federal Housing Admin
istration.
Farm homes alone need s576, ,587 900
for thorough modernization, accord
ing to estimates based on a survey of
352 counties in 46 States made by the
Bureau of Home Economics, Depart
ment of Agriculture. The outbuild-
ings, fences and permanent farm
equipment require similar amount,
the survey reveals.
Credit Plan Helps.
1t is anticipated that the current
years building construction in farm
areas will reach an imposing volume,
due to two influences.
One is the operation of the Mod
ernization Credit Plan Of the Federal
Housing Administration, together with
better housing campaigns being car
ried forward in close to 5000 COM
munities.
Another is the fact that a gain
Of so per cent in the farmers pur-
chasing power last year over 1888 is
shown in a report recently made pub
lie by Louis H. Bean, economic adviser
in the Agricultural Adjustment Ad-
ministration. The farmer is in much
better shape from a standpoint of cur
rent returns, according to Mr.. Bean.
than he has been at almost any time
in the past three years.
Southeast Leads.
In the survey the Southeastern
rural section shows the greatest need,
the sum necessary for restoration and
building totaling around S186,300, 900.
The small white and negro tenant
farms prevailing in this section, to-
gether with the long period Of low
prices for the staple crops Of cotton
and tobacco, contributed to the large
total
The wheat and corn belts followed
the South closely, with a figure Of
$l08, 100000. Low prices for wheat
through several years combined with
the drought, have acted as checks on
improvements or new buildings in this
section.
Texas and Oklahoma showed a need
for around s60,700.O0O. low prices for
cotton also being major factor here.
Paint was needed by 10 per cent of
the farm houses in Georgia, South
Carolina, Alabama and Louisiana, and
by "a per cent of the farm houses in
Texas and Oklahoma. In Iowa only
per cent of the farm houses needed
paint.
Evening star., 1935-02-09
New Flooring on Market.

A new flooring has a resilient, in
sulated base and hnoleum or rub
ber empowering. It's said to be soft
Under foot, moisture resistant.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1935-12-14

A friend spent the night with q
farmer. The next morning he ap-
peared downstairs with black eye.
How did you get THAR" ask
ed farmer in surprise.
'Oh, / Just happened TO fail in
the guest chamber, that's ali, an
swered the visitor.
"Geei You didn't break It, did
you2" anxiously inquired the far
mer.
sss
The other day a friend Of mine. a
newly created papa, received the
glad tidings In a telegram:
sylvia gave birth to a little girl
this morning; both doing well"
On the message was a sticker,
reading: When you want a boy,
call Western Union"
80 ~as
what is the difference between
a king and a PRESIDENT"
One amazing six-year old came
back with the following answer:
Kings have queens and presi-
dents have private secretaries.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1935-12-14
WE ARE COMPLIMENTED
BY One Whose Judgment We Respect

his arms around the Hlrdip theater
man, however, for the next well,
quarter of a mile south, was DRY.
Fortunately, he drilled the 10O-barrel
location first.
Later, he drilled a well ON the
Clarkson farm, on Hoer's advice, and
brought in a well which had an ini-
tial of around 145 barrels per day.
With an income Of around $500 per
day, Lawler is one theater man who
has few worries. he is not satisfied,
however, and win next spring proceed
to increase his income by further drill
ling. -
Another interesting angle is the
fact that Bill Hoer has nothing to
/. worry about. Some investors take the
attitude that money-is the only thing
that counts in an investment. A pros
pecfor may spend a lifetime in the
bills hunting for mine and at
ripe old age he finds ore and takes
it to man with capital. The attitude
of capital frequently is that the pros
pectorls share should be represented
only 1by the amount of MONEY he
thereafter invests in his own Prop
erty. That was not Lawler 5 attitude.
He knew that Hoef had mo money to
invest but he carried him as part
tier. And thus Hoer IS fixed for
fe. He has continued his geological
. werls and. has gathered valuable data
WI several new structures which ne
ISL working out in spare mDments a.
WAY from the. lease. He IS in charge
Of operations while Law1er continues
to operate his Hardin theater.
We appreciated very much Mr..
LAWYERS complementary remarks. We
are proud to record him among the
leading oil operators whom we can
use for. reference, when reference sis
required. Mr.. LAWYER is one who
knows royalty VALUES In other
words, he knows how to FIGURE the
value of royalties, as he knows how
to figaro the probable return from an Z
investment in drilling .
In Cut Bank, as in Keyin-Sunburst,
we are sticklers on the matter of Z
PRICE. We consider the purchase of
ROYALTY the purchase of OIL IN I'M
aDERGROUND STORAGE. After all,
it is "a matter Of buying oil for few :
cents barrel and selling it later on
for 81 As per barrel-or whatever
other price the market affords. sse !
The person who knows how to FIG !
IRE the value Of royalties, cannot
fail to get tremendous thrill Fout Of
what we are doing Ia Kevin-Sunbhrs
field. We are buying rOysities on a
basis that means q REPETITION bf the
fortunes which were made in the OPP !.
ening of the Baker H0wling, the Rice
Fulton and other sensational POOLS
They are pioneer-type opportunities, =
for which we can thank the depres- !
sion. They will not last long@ the end
of bargain. days Is I'M sight.f ~ , ns'
Never before have we been able to
buy royalties on PROVEN OH
LAND at the prices we ordinarily
pay for WILDCAT royalties a. hun
dred miles from production. We
doubt that we win live 70 see smother
time when such things ara possible 81
et1r 81 f1Stf.f& as.ffs-E
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1935-12-14

the result of the use of SAVINGS
from small business run on an eff
ficient basis.
Convinced that a successful In
vestment requires the investment of
more than just money requiring the
investment of personal effort and
ability-BIr. Lawler determined that
he would invest only in properties
which he could handle and control
himself. At this point, Mr.. Lawler
is forced to admit that he was re-
garded as the prize sucker of Mon
tana when he entered Cut Bank oil
field, for the reason that he was a
follower of a "sheepherder geolo-
gist. ~
Mr. Lawler became acquainted
with "Bill'' Hoer during the davel (
ment of the. Soap Creek oil field
Hoer displayed knowledge. Of geo.
logy which LawlerA respected. Hoer
was not college trained geologist
but he had read a lot and had as
his hobby the Identification of rocks
and the study Of structural phen-
omina Hoer was sincere and honest,
and furthermore he advised Epwler
on several occasions and saved Law
Ter from the loss of money in oil in
vestments.
Hoer left Hardin and ent to
northern Montana There he achieved
his. degree" by actually. workiUg
on a. sheer ranch. Travelling over this 3
area north of Cut Bank; he became
convinced that there was IAN oil
field in the district, after Kelvin
Sunburst came into production. He
could get none to believe him since
only suckers" believe sheepherder
geologist. He leased up what is now
the principal producing area Of. Cut
Bank before anyone else would agree
that it was an oil sfield. He spotted a
location for his test wen on the Hag- 4
lund farm r. rs Y a9@ W
Meantime. he had kept in touch with
his friend Lawler- and kept him in
formed. Lawler was unable to finance
wildcat test and, besides, he was not i
entirely sure that his friend was
right. So it was that Hoer's leases ran
out and eventually the Drumheller
well--likewise on misguided geology
was drilled. Lawlef knew from the
outcome Of that we'll that his friend
the "sheepherder geologist knew
something. So it was that he got in
touch with an oil operator named Tar
rant and tried to induce him to lis
ten to Bin Hoer's theories
Tarrant investigated, was impressed
by the showings of the Clrt Bank
field although it had stood idle and
neglected for more than year. He
secured leases and drilled his first
well on the Hag9una farm. Thus the
theories of the 'sheepherder Reolo-
gist were upheld and there came fhs
development of Montana 3 greatest oil
field. ktYgFl
a;LawleE acquired ho further proof.
Convinced. ne decided to gamble ev. /
erything on his frieneass Judgment. So. (,
contrarys,to the advice of his friends,
he undef4ook to- finAncs an oil well
by himself. Hoer had some leases re-
naming. one of which was the Har-
Ian tract. LswTqE thereon drilled hiu-
self ~ -bprre wall.s eihe Lord had {
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1935-12-14

Named In the complaint are
Lyle o. Goodman, president;
Wesley Leroy Smith. director; ST.
las Filmed Croker. secretary and
Agnes Riley, assistant secretary.
A hearing will be held on Dec.
rs in federal court to determine
whether the company should, be
barred from the use OF the mails
for transfer of stock. The company
lis Incorporated in South Dakota.
with offices in Butte.