Evening star., 1941-06-28
Shop Talk
News About Builders
And Real Estote
Personalities

Regulations governing the ex-
esnption of real estate notes and
mortgages from registration under
the Securities Act of 1888 have
Just been issued by the Securities
and Exchange Commission, it is
pointed out by G.. Calvert Bowie,
chairman of the Mortgage and
Finance Committee of the Wash
tngton Real Estate Board. This
exemption will apply to notes Sc
cured by mortgages and deeds Of
trust on residential real estate hav-
ing a value of $25 900 or less.
The text of the new regulation,
which became effective June 81,
follows:
"(A The aggregate principal Of
the notes or bonds secured by a
mortgage or deed of trust on any
single piece of property and the
aggregate amount at which such
notes or bonds are offered for sale
shall not exceed $25,000.
"(B) The principal amount of
each note or bond shall be not less
than $3.50, and the total number
of notes and bonds on any single
property shall not exceed 25.
"(C) The notes or bonds shall be
sold for cash or for purchasers OBJ
legations to pay cash within go days
after sale"
r. r. Spear, who operates one OF
the largest real estate brokerage
Offices in nearby Maryland, is CIV
ing a big dinner party at Z pm.
Tuesday to celebrate the I'd ami
versary of the establishment OF his
business. The affair is to be held
at Hotel 2400.
Guests at the party-more than
so In all-will include many build
ers. the Spear sales force OF 20,
newspaper representatives, r. H. A.
offcials and officials of the Wash
ington Suburban Sanitary Commis-
sion and the Park and Planning
Commission.
Mr.. Spears business has shown
amazing growth in the short time
since he started it. There are now
two Offices, with headquarters at
s422 Georgia avenue, Silver Spring,
and a branch at 7072 Old George
town road, Bethesda.
Paul p. Stone, Arthur S. Lord,
Edward e. Caldwell and Avon
Shockey, developers of Crestwood,
Hawthorne and Hillcrest, have
moved to new Offices at 5000 Con-
necticut avenue NV.
A home In CrestWood received the
Silver Star award this spring ana
attracted nearly $4,000 visitors. Mr..
Lord SAYS they made Is deals as a
result of the Star home, and the
houses ranged in price from SIS, 900
to over $4,000.
Smith g. Gottlieb, Inc, announce
the opening of the third section
of Hampshire Knolls, the low-cost
home development on New Hamp-
shire avenue a short distance over
the District line.
There will be 81 detached brick
houses in the new section. The
first two sections of l2l houses were
sold in record time. Albert H.
Davis again will be in charge OF
sales.
An unusual short subject entitled
1--WE Americans" which was released
bv the Federal Housing Adm1nlstra-
tion, is being shown this week at
Loew's Capitol. The short Is IN
technicolor and presents in dra-
matte style the benefits of F. H. A.
to any one who wants his own
home.
Frank Craven of "Our Town
Is the star. Craven plays a sort
of Cupid in the romance OF FREQ
and Joan Ashley, young married
couple whose love isn't running any
too smoothly. He has the idea
that the makeshift house in which
they live has something to do with
their difficulties. So he sets out to
show them how they can get new
one. OF course, happiness returns
10 the Ashleys when they get IN
the new home.
A new group of IL homes mas
been started In Woodside Forest,
silver Spring. The homes were de-
signed by Donald S. johnson, we'll
known architect of nearby Mary
land. The builder, Fulton R. Cru
yer, states that the first group OF
five is nearing completion. Wood
side Forest now has nearly 10
houses, and there is room for more
than 400.
Wastage of the countrys fuel re-
sources in the face of the defense
effort has assumed such propor-
tions that the Bureau OF Mines
has Just issued pamphlet titled
Home Insulation, an Effective
Conservation and National Defense
Measure" The publication states:
Most of the 100000 new houses