Evening star., 1954-10-04
Housing Firm
Sale Completed
AT 81 Million
Fred A. Smith Heads
Sanitary Concern,
Organized in 1904
By Donold B. HodIey

Sale of the 50-year-old Wash
ington Sanitary Housing Co. for
a sum reported at more than 81
million has been completed and
Fred A. Smith, Washington busi-
ness and civic leader, has been
elected president. it was an
nounced today.
William CalomiriS, prominent
realtor who heads the purchas-
ing group with Mr.. Smith, will
serve as vice president. j. Hawley
Smith has been named treasurer
and Peter Calomiris, secretary.
Represented by attorney James
c. Wilkes. the group last April
offered $3.50 share for the cor
poration'S 1000 shares of $100
par value, a total of 81 million.
On the deadline, May IA, the
offer was extended indefinitely,
although the group announced
that 80 per cent of the shares
had been rendered. More time
was allowed for owners of the
remaining 315 shares.
Head of Savings Firm.
Mr.. Smith is president of the
Jefferson Federal Savings and
Loan Association and his own
real estate company. He is a
past president of the Washington
Board of Trade, the District
Building and Loan League and
the Washington Real Estate
Board. He also is a director and
vice president of the Lincoln Ma
tional Bank.
Mr.. Calomiris is president Of
the William Calomiris Invest
ment Corp, vice president Of
the SITS. Constantine and Helen
Greek Orthodox Church, and an
active member of the Home
Builders Association of Metro
politan Washington and the
Washington Real Estate Board.
Elected corporation directors
in addition to the new officers
are: w. Donald Calomiris, James
G. Calomiris, Fred w. Smith,
Richard A. Mott, William F. Nc
Intosh. Frank F. Nesbit and
Alexander G. Murray.
One of the early private hous-
ing corporations of the District,
Washington Sanitary Housing
was incorporated in April, 1904,
and owns apartments and flats
principally in Southwest Wash
ington. Among the properties are
the Kober Courts in the 200
block of o street. S.W. and the
Sternberg Courts across the
street.
Gen. Sternberg Co-Founder.
Founders and early officers and
directors included: Gen. George
M. Sternberg, retired Surgeon
General of the Army; DR.. George
M. Kober, for many years presi-
dent of the Georgetown Medical
School; Frank P. Reside, former
president of Equitable Co-opera-
tive Building Association; John
Joy Edison, former board chair
man of the Washington Loan &
Trust Co.; Charles j. Bell, former
president of American Security
& Trust Co.; George S. Wilson,
former District Equitable Co.
operative.
After its organization in 1904,
Gen. Sternberg announced the
purpose of the corporation as to
build sanitary houses for a de-
serving class of population" but
warned "it is not proposed to pro-
vide for idle and dissolute, and
only those who pay their rents
and take reasonable care of the
apartments will be retained as
tenants" Throughout the years
rents have been very low but
there have been practically no
losses in rent collections, accord
ing to officials.
Edward L. McAleer, the corp
oration's retiring president, is
president Of Equitable Co-opera-
tive Building Association and is
a past president of the District
Building and Loan League. Other
retiring officers: Robert E. Lewis
vice president, and Milton r
! johnson, secretary treasurer