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PlaYbOx SautE Lawa Linme Duilders', Service INC. Phone Winnetka ot the proverbial log. Judging by the general tone of mortgage money advertisements, one rnight think that, those happy days were. hereé againý but atas and alack, it is not so. There is no doubt that there is a large vôlumie of insurance and trust funds seeking, an. outtet,. but. the M.0R-TO ACEýS DOVINMUEHLE 7 South Deurborn Street. Chicago "Jast Phone Central 88141ri < Ne rborrower is scarce. As a generat rule not more than 50 per cent of today's appraised value can be borrowed at 5 per cent interest. About 40 per cent of appraisement, plus a s trong bor- rower, justifies 42 per cent interest. Today's- appraisedl value usually. means, reptacemen t cost Iess deprecia tion at 2Y/2 per cent a year. On business property the value is usuatly omnputed.at ten-timnes the net revenue, and "net" means ".net"* after deducting liberal'arnounts for operation and upkeep.ý *Wbichevei one of, these values is lower is the: one utilized., The borne owner living in b is* home is. stitl a citizen specialty favored by the government, if one considers it a favor, to, be encouraged to owe 80 per cent of tbe value of a home. There is evety excuse for a homie. owner mwbo bad -been caugbt. napping during the boomi period trying to pre- serve a diminished equity, but there seems to be sometbing "goofy" about a setup which belps wealthy people to acquire real estate bargains by the use of the taxpayers' money. The alibi tbat distressed property is tbereby takeri off the market bardly seems suficient to justify obvious class legislation. aLookfingý back, it is now clear that a o ufor troubles Were caused by mortgages for fifty or sïxty per cent of the inflateçl values, and yet we finid our governnment encouragingcitizens to burden theinselves witb 80' per cent mortgages. In striking conitrast, wbhile -present day restrictions Ilimit the placemhen t of their 'funds, it is certain tbat those charged with tbe respons ibility: for the investmient of insurance and trust conipany funds. have, taken their bit- ter tesson seriously tô beart. Givez Broker'. Function For the borrower, the problem Ws one of changing conditions, and th'( I o f Northwestern university, he ban- dtedthe real estate of, the university in, Chicago, Evanston George D)aIgetyý and the nôor t-h (Tolôtz) shore. This atone ran into operations of miany iilions of dolla rs, In add i- tion, he bas operated extensively for varicius syndicates., Probably no one on the north shore bas a more complete knowledge of long term leases. Hle bas appraised properties for insur- ance purposes in every section of the Itbe years when real estate was very active, he was constantly consutted by Chicago houses because pf bis familiarity and judgmetnt of values ai d trends. He bas been frequently called into court and before the appraisers of Cokcunty, on real estate niatters. Mr. Dalgety bas been sougbt after as a speaker by real estate boards. Many, people recall his address of a year agc> before the Illinois Real Estate confer- ence in Evanston. Last spring he de- livered a series of lectures at the Uni- versity of Texas on "Taxation and E du- cational Institutions." Recently he ad- dressed the Reat Estate board and luncheon clubs in a coinbined. meeting at Cedar Rapids, Iowa. Numnerous articles by him bave been published, dealing with reat estate dle- vetopmnents in Evanston and, the nortli shore, and also on taxation practices and tendencies. Few real. estate pperators bave btiilt UP as wide a range of friends and ac- quaintances who have sucb complete confidence, in bis abitity and absolute fairness. These friends wiil be pleased to know that bis help is stili available. E. J. Enchelmayer Jo ins JE. Sawyer Smith Staff Ernest J. Enchelniayer of 682 Grove LIBERTY VILLE, ILLINOIS I Phone Jibertyville 37& - - &av t# ie sa gr'aduate of New Trier . I towns, are expected to attend tliis High school and also attended' Lake tidyearly conclave. Besidesa gen-Foetclg.Hefrry wd eral discussion of bank policies and Frs olg.H onel we their effect upon the moves of the and operated the Glencoe Bicycle individual associations, the prograr' and Sporting Goods shop, at 708 Ver-. will include a report of the past year's non avenue ., and1 has long been active activities by A. R. Gardner,ý president. inthe leadership of boys'grus . îaffl f