Evening star., 1935-09-28
REALTORS TO HEAR
OF PURDUE STUDY.
Home Building Experiment
Will Be Discussed at
Convention.
(Continued From First Page.)

be given laboratory tests and-unique
in scientific research in this highly
human problem-the long-term prac-
tical test of actual family living, in
side their four walls.
The study will be on better homes
In the $4,000 and under group. 1t Is
expected to build gradually con-
siderable community which can be
used to illustrate-and study-various
types Of land layout, including street
layout and relation of house to lot,
all this under actual living conditions.
Frank Watson to Speak.
Frank Watson, administrative di-
rector of the Purdue housing research
project, will outline its plan Of pro-
cedure, in forming which leading land
developers of the country are now
being consulted, and in preparation
for which a widely representative con-
ference of housing interests was held
June /. He will speak at general ses-
sions of the convention.
Business headlinerS added to the
convention program during the cur
rent week include the following:
j. William Markheim, president OF
the Camden County, N. j., Real Es-
tate Board and president OF one OF
the largest real estate offices in the
State, will address the Institute of
Real Estate Management on the eve
ming of october "a on How Manage
ment Affects Value"
Markheim is commissioner OF aero
nautics in New Jersey. A round-table
discussion will follow his talk.
Thomas Shallcross, jr., Philadel-
phia, past president of the National
Association of Real Estate Boards and
of the Philadelphia Real Estate Board
head of an organization which has
taken for its special function the serv-
icing of mortgages, will address the
new National Mortgage Board Of the
association at its initial convention
meeting, Thursday afternoon, October
"a, on Ways to Adjust the Mortgage
Business to Changing Conditions" Mr.
Shallcross will speak from SO years
Of experience as real estate broker
Free discussion will follow.
Former H. o. L. c. Man to Speak.
Philip w. Kniskern, Philadelphia,
who, as appraisal adviser for the en-
tire work of H. o. L. c. until recent
months, had central part in the
Standardization of residential apprai-
sal made necessary for the operation
of that agency, will address the new
National Mortgage Board on Things
Not to Do, as Experience Of the Past
Ten Years Has Taught U.s."
Kniskern, now vice president OF
Clarke & Kniskern, Philadelphia, is
past president of the American Insti-
tute Of Real Estate Appraisers, having
headed the first two years of its work
He served earlier as chairman of the
national associations mortgage and
finance division and is the author OF
Real Estate Appraisal and Valuation,
published in 1888, which deals in de-
tail with the relation between mort
gage practices and real estate valua-
ton. He is a former president of the
National Reserve Corp. of New York,
until 1927 was vice president of the
National Surety Co. of New York City
and later was president and director
Of the Property Ownership Corp, New
York City.
Frederick M. Babcock, chief of the
appraisal work of F. H. A., who as
such has been largely responsible for
the detailed F. H. A. Underwriting
Manual, will address the American
Institute Of Real Estate Appraisers
on this manual, the official guide for
all commitments for Federal mortgage
insurance. The manuals 615 sections
constitute the first attempt to weigh
the risk factors for home mortgages
in a standardized way. They take
account Of % the underlying prop
erty itself, (2) the neighborhood, (3)
the fitness of the improvement to the
neighborhood, (D the borrower, and
go the pattern Of the mortgage in
strument.
Babcock Also an Author.
Risk rating was pointed out by the
National Association of Real Estate
Boards as important for accurately
determining spread of interest rate:
and so eventually making possible 9
minimum rate. The F. H. A. manual
is recognized as constituting one O,
the most important fundamental step:
yet taken in the finding of sounc
appraisal procedure with reference te
mortgage loans.
Babcock is the author of "Appraisa
OF Real Estate" published in 1924, the
flrst comprehensive work on American
real estate appraisal theory ever pub.
liShed Zone of series of real estate
texts written and published under the
auspices of the National Association
OF Real Estate Boards. He is the au.
thor OF a notable recent volume
Real Estate Valuation" He will
speak Thursday afternoon, October "a
Alfred H. Wagg, Palm Beach, Fla.
vice president of the National Asso.
citation of Real Estate Boards for thu
Southeast region, will address the bro.
kers' division Thursday, October "a, or
modern sales methods. He will speal
also before the land developers anc
home builders division the same aft
ernoon on Putting Life Into Deac
Subdivisions.
Dayton Keith, Chicago, head of tn,
Dayton Keith Management Service
will talk to the Institute of Real Es.
tate Management Thursday afternoon
October "a, on What Does Complet.
Management Service Include?" Mr.
Keith for seven years was vice presi.
dent Of the Chicago Trust Co., ir