National Republican., 1883-05-19
What the Dealers Have to Say as TO the Con-
ditOn Of the Market
It is Still Active and the Inquiries by
Wealthy Non-Residents Increasing
The Special Activity in Suburban Propsrty-Tht
Stone Estate and College Hill.
New Buildings That Have Been Started OF
Projeotod-st. PAtriclS's Church.

eFS nave Dceu 30 ONeTWnellutu WIN
that as one energetic broker expressed it,
81 haven't been able to find time to eat. /
am going all tho time from o'clock in the
morning until IL at night. When get
home l have so many things to think of, so
many transactions that are partially COM
pleted, that cannot sleep"
In talking with Messrs. Fitch, Fox &
Brown. il was learned that the inquiries for
property In the northwest and in College hill
were still numerous. Of the Tutte property,
q plat of which was published in TIE RE-
PUBLICAN, several lots have been sold and
in tho property on New Hampshire avenue
and s street, which is controlled by this firm,
several additional lots have been sold.
"Speal1ing of real estnto as an Investment"
said Mr.. Fitch, "I want to give you an incl
dent About a year ago lady wrote us from
adistant city asking if we could loan $50 900 for
her ON good real estate security SO that
she wodld receive 6 per cent We wrote her
that we could not promise 9 per cent, but
could 5; but we suggested that we could
invest it for her to advantage in real estate.
She placed the money IN our hands, and we
bought piece of property. We have since
sold enough Of the ground at such an al
vanUod price as to make for her 100000, and
she has stsll large lot of land left"
DO you think that the publications that
have been made in the newspapers in refer
ence to the activity in real estate has tended
to injure the business and TO give fictitious
value to properly" asked the reporter.
:" By no means On the contrary, think
ii has shown the public what was being done
in real estate 1 don't see how you could
avoid taking the interest in real estate II you
want to be live newspaper, and The RE-
PUBLICAN certainly is that"
Passing around the corner of i street, the
next call was made upon Mr.. John W. Prescott
WIN in N tho question tn how
business had been during the week, said that
he had been just as busy as he could be I;
that, while he had made some good
sales there were others pending that were of
far greater magnitude. " think" said he,
"that the property Just outside the
Inquiry is daily made in reference to this land
out on Fourteenth street, both the Stone
estate and the college property, and num-
ber of buildings are going up there this sum-
mer. By the way, one drawback to building
out there heretofore has been the fear of fire.
That can be obviated by the use of artificial
stone. The building that was recently burned
down at Mount Pleasant is being replaced by
one Of artificial store blocks, which will make
1t near y fire proof"
"Where do you get your artificial stone ~
make IL ON the ground. That is what we
are doing out there now, and tell you this
will be greatly in demand for building pur-
poses before long"
Property has made some rapid strides in
value in the northwest section, has it not?
YES indeed. think one of the most re-
markable instances is the square on which
the Convent of the Visitation now stands,
fronting on Connecticut avenue. 1t was first
bought for 5000, and then sold to the sisters
for $4,000. They sold one-half of it for
100000, and got money enough to build their
convent"
Don't you consider the market in a healthy
condition.
"Yes, sir: the finest since have been in
business"
Mr.. ]. V. N. Huyck was found up to his
eyes in business, with several things pending
and on the owe of consummaton. 81 have had
an experience that is entirely new to me, y
said he, and that is number of inquiries
from wealthy people living in other cities
for residences for next winter. Here it is
only May, and they don't want to occupy
them until next December. That looks like
taking time by the forelock, don't it"
Mr.. l.. M. Saunders had had rather quiet
week of it, but was satisfied that it couldn't
be rush all the time. In speaking of subur-
ban property, such as College hill and the
Stone estate, he said the difficulty there was
the lack Of water, sewer, and gas privileges
Gas is now out to Mount Pleasant, but the
sewerage would have to be looked after, and
of course it would not be fair to expend
money for that purpose beyond the city limits
when there were so many squares right in the
city that needed that Improvement.
Mr.. Alonzo A. Mari reported that he had
keen kept extremely busy, and that the in.
quiries for desirable property were constantly
increasing. Similar statements were made by
A1essrs, Tyler & Rutherford, Sutphen, Shoe
maker, aud Swormstedt.
Mossrs Ryan g. Tracy reported a goodly
number of sales which will be found else
where. They are firm believers in the steady
advance of Capitol hill property, and think
that when the improvements, which
that section ought to have by reasor
of its increased growth in population anC
Importance, are granted by the commissioners
there will be no lack of purchasers for prop
crty there They have already sold severa
farms in the vicinity of the district to Eng
lishmon who have come here to settle ant
become part of the great American people, ant
il is believed that others will also come owe
for that purpose. All about Washington
should be series of truck farms, which
should be thrifty and productive. The eli
mate is good and the land was original,
g7sd, although it has been woefully abused
St,il il could be enriched and made to produc
good crops of garden stuff
Mr.. Charles Handy said he was decided,
busy, but that there was no particular sal
which he wished to report. In speaking o
the chan sc in the value of property in Ger
tain localities he mentioned one lot ON tn
corner of North Capitol and X streets north
west, which he had sold ut 55 cents that wa
as, 'ssed at 81 per foot, and that other land il
that vicinity had been offered at Is cent
when it was assessed ut so cents.
Washington heights, which is the propert,
just beyond the head of Nineteenth street
and is what was formerly known as tn
Widows Mite, is being actively pushed b.
Mesrs. Pre,brey and Green, and with de
cded success more than ope-third of the lot
in their subdivision being already sold. TIL
purchasers are business men, those holding
civil positions under the government and ma
val officers. This property overlools the en-
tire city, and being nearly 200 feet abov
tidewater there is a constant breeze sweepin
from the surrounding hills up through tn
valley of Rock creek, and the temperature
always from Eve to ten degrees lower than il
the city.
BUILDING MATTERS.
Workmen are now at work cutting tn
stOR ior the new 81. Patrick's church, an
il is the intention of Father Walter TO hay
tD1 work go right along as rapidly as possible
lie was determined from the hrst, however
thar he would not go in debt for tho ney
church, and that its progress should onl
keep paee with the funds at his disposal 70
that purpose. Consequently for ten years tn
unfinished walls have stood in mute appel
to the congregation TO contribute to thei
farther advancement When the church
completed 10 ~. be the handsomest structur
in the city. style Of tho building
pure gothic, aud the front will be of hand
some and ornamental design. The depth /
165 feet, and the breadth Of the body Of tn
huildiun Is n feet and TINT of tho TRANSIENT a