Evening star., 1947-01-05
Us New Homes
Available for
GI Investors
Williams Depositors
Promised Reduced
Cost for Housing

Washington builders have mad
125 houses available at reduced cos
to veterans who deposited $500 Il
$1,000 with George H. Williams, thu
real estate man now in bankruptcy
1t was announced last night by Ed
ward r. Carr, president of th'
Home Builders Association of th'
Metropolitan Area.
Mr.. Carr told a meeting Of more
than 200 veterans, their wives ane
children in the District Veterans
Center that the houses either art
under construction now VI building
is about to start. Other homes art
expected to be offered soon.
The veterans will get the home:
at discounts ranging from $500 tt
$3.50 because of the willingness oi
builders, loan associations, material.
men and subcontractors to sacrifice
profits in order to make up to the
veterans for what they invested with
Williams.
BY Tuesday, Mr.. Carr said, the in.
formation on about 100 of the
houses, including how to reach them
and who to get in touch with, will
be available at the center.
To List Locations Soon.
Definite locations on the remain
ing Is will be available in about 10
days and an additional 80 or 40
houses should be added to the list
in another week, he added.
The gathering at the center last
night was the largest of the four
meetings the veterans have held
since they learned the homes on
which they fastened their hopes and
invested their savings would not be
produced by Williams.
The wives took notes as Mr.. Carr
listed the houses and the husbands
asked questions.
BY their questions, the veterans
demonstrated they had learned
much about houses and what to
look for in them since they made
their deposits with Williams six
months ago.
Many Questions Asked.
They wanted to know about as
bestos shingling and fireproof con-
struction, about heating systems
and Easements. about the avail
ability of schools, shopping centers
and transportation. They wanted
to know how much they would lose
by buying a house now, if and
when the prices go down.
For more than an hour, Mr.. Carr
answered questions. He delivered a
little lecture on construction, an
other on the relation of prices to
the national debt. He pointed out
that even if the prices fall to the
extent that the home is worth 81 ZOO
less than the veteran paid for it,
he still will have an equity in
home rather than a bunch of rent
receipts
He made one suggestion that drew
question after question from the
crowd
He proposed that veterans who de-
posted $500 with Williams and get
that sum back in the form of a dis
count on home. might waive their
claim on the Williams assets so the
veterans who put in 81 900 might re-
trieVe a little more
Suggests Veterans Help
He pointed out that the discounts
would come to less than 81 600,
which meant the $1,000 depositors
still would suffer a loss. He sug-
gested this might be one method of
one veteran helping another.
The veterans seemed to agree,
however, that they wanted to be sure
they had their new homes, complete
with Veterans Administration ap-
proval of their loans, before they
waive all claim on the Williams as
sets.
Mr.. Carr said he would make pub
lie list as soon as it is completed
of all the builders, loan companies,
sub-contractors and materials men
who have made concessions to carry
through the program for the Will
liams depositors. In the meanwhile,
he gave the names of these compan-
les which already have agreed to
turn over some of their homes at
discounts to the Williams depositors:
Capital View Realty Co., headed
by Ray Evans: Is homes on which
construction will start in a few
weeks at District Heights, Md, on
the Marlboro pike. No prices have
been set yet but veterans will get
a $500 discount on homes under
$4,000 and $3.50 discount on homes
over $4,000.
Forty Houses Offered.
Standard Construction Co., headed
by Clarke Daniel; 40 homes in River
dale, Md. Williams depositors will
get two-bedroom homes under So
600 at a $500 discount and three bed
room homes under $4,000 at $3.50
discount.
Robert H. Best, 10 houses nearing
completion in Kensington. Md.
Houses are priced at S10,750 but
these veterans will get a $3.50 dis
count
M. A. Mace, 10 houses under con-
struction in nearby Virginia. Houses
are priced at $l2.650 but veterans
will get $3.50 discount.
Mr.. Carr, Is houses under roof on
Eighth street NE, just off South
Dakota avenue. Houses are priced
at approximately S10,750. These vet
Grams will get a $700 discount.
- Clarence w. Gosnell, Inc, Il
houses under construction. Location
price and discount have not been
announced.
Banks g. Lee. Inc. 10 houses under
construction. Location, price ano
discount not yet announced.
Mr.. Carr also announced that Lee
M. Bernstein had offered to donate
AS25-acre tract. location not an
nounced, if the Home Builders AS
sociation decided to sponsor a sub
division.
The association president said
however, that builders are offering
homes in their subdivisions at such