Evening star., 1939-05-27
Realty Appraisal
Courses Planned
For Summer
Two Case Study,
Two Lecture
Series Scheduled

The Wharton School of Finance
and Commerce of the University of
Pennsylvania and the American In
stitute of Real Estate Appraisers
jointly announce case study and lee
ture courses in real estate appraisal
to be given at the university during
the summer of 1899.
Two case study courses, each COW
ering two weeks, will run consecu-
lively July 10-July % and July "a
August 5. Two separate lecture Sc
ries follow during the week August
7-August II. There will be morn
ing and afternoon sessions.
The courses, developed by the in
stitute through its Committee on
Research and Education. cover basic
principles and procedures in the
field of real property valuation with
q special course on the valuation of
large investment properties. They
are parallel with courses the inSti-
tute gave in cooperation with the
School Of Business of the University
Of Chicago in 1885, 1886 and 1887,
and in cooperation with Columbia
Unlversity's School of Business in
1888.
New Ground Explored.
The mathematics of real estate
valuation is new ground in real
estate education to be explored in
10 lectures to be given by George
l.. Schmutz, Los Angeles, Calf, it
will be covered in a more detailed
way than has ever before been at
tempted.
Also new is lecture series cover
Ing the analysis of appraisal re-
ports. expected to be especially val
liable to those who must pass upon
appraisal reports prepared by 9TH
ers. Stanley Roe, Chicago, will give
this lecture series.
Open to all qualified persons, the
courses are expected to attract a
national enrolment of experienced
appraisers, real estate leaders In
other fields. mortgage officers of in
surance companies, banks. other in
stttutional lenders, tax officials and
others deeply concerned with valua-
ton questions in real estate.
Herman o. Walther, Chicago,
chairman of the Institutes Com
mlttee on Education and Research,
will be dean of course I, covering
fundamental principles and prac-
tice. Mr.. Walther, vice president
and managing director of the First
Federal Savings and Loan Associa-
tion of Chicago, directed the field
work Of students in the Institutes
three summer courses at the Univer-
sity of Chicago.
Neiswanger Dean of Course ii.
David NeisWanger, Topeka, Kans..
will be dean of course II, on valua-
tion of investment properties. Mr..
Ne1sUanger, chairman of the insti-
tute's Subcommittee on Education
and member of the faculty for It's
1888 courses, is recent vice presi-
dent of the National Association of
Real Estate Boards and a past presi-
dent Of the Kansas Association of
Real Estate Boards.
The faculty for course I will in
clude Ayers J. Du Bois, Washington.
D. c., chief, valuation and training
unit, underwriting section, F.. H. A..
and lecturer at like courses at Co.
lumbia University and the Univer-
sity of Chicago, and Arthur A. May.
Detroit, dean of recent courses given
by the institute in cooperation with
Tulane University, New Orleans.
Faculty for course II will include
Robert H. Armstrong, New York.
and William MacRossie, Greenwich.
Conn.
Philip w. Kniskern, Philadelphia,
former president of the institute,
will be in general charge of the
field work for the courses, which
will be the appraisal by each student
of an actual Philadelphia property,
under personal direction of mem
Der of the faculty. Data upon the
properties will be furnished by the
Philadelphia chapter of the insti-
tute