Evening star. [volume] (Washington, D.C.) 1854-1972, 1885-07-11
No. of Transfers.


49, 4..................-....2,6l3 1882 354
! 10 o...-...-. 6,91I2IO
q O.-........... S,494 $40
ISL I~........-..........2,6oo 1,192,5SO
70 LS..-.2,242 4,I99, 1913
| 1S19-...............-....2,535 5495,494
6,OS7 ,459
!SSi -.....-..........-..--2,4 54 6,9SO.31T
ISSZ............. 6,SS9,21O
los S,SI5,SS2
1SS4.......-.-........-....2,IS 1873 S,25O,729
A list of the new buildings erected during
these years, will their values, would give evi-
dence of u similar character, and so would the
history OF the street improvements and the
growth of the population, which has advanced
from 10000 in 1870 to the present population
OF 20o 900. The operations in real estate DUR
ing the years 1872 and 1878 were larger than
in subsequent years, but this was the time
when Gov. Shepherd was carryin. on his COM
gave neville TO the city and made possible the
realization OF the plans of the founders of the
century. During these years. while there has
been speculation and while the city has suf-
Tered from the effects of the financial crash OF
1878 which was felt over the entire country,
| yet, strange to say, there has been remarka-
J bic steadiness in values. Land has not adj
yanced from twenty cents to three or four dol
lars per foot in - year or even in two or three
years: The appreciation has been more grad
uai In 1871 the northwest, where the finest
hardly accessible. Mr.. J. F.Olmstead, who has
been in the real estate business for the past
twenty years, told STAR reporter that in 1871,
when he went up Massachusetts avenue be-
yond / 9th street To look at land he had to go
on horseback as the avenue was not opened
ana there was only COW path down the
rtvine, through which small stream found
It's way and which crossed Massachusetts ave-
nue., just west of 18th street.
MIR. OLNSTEAD'S RECOLLECrIONS
"My first experience in the real estate bust
ness remarked Mr.. Olmstead, whomstLe re-
porter happened to find in a mood for reminis-
cence. was in the year 1865, when entered
the Office ol H. NJ. Hall. who was the pioneer
real estate man in the District. He had been q
clerk in one of the departments, but resigned
his place and opened an office to carry on a real
estate business in connection with other mat
teES- For in those days and for many wears af.
forwards no one Thought of devoting them
selves exclusively to real estate for there was
not enough OF 1t to afford a living. As compared
with the present, when there are over "a hun
dred real estate agents doing business here, it
Fox Hine opened an Insurance and real es-
tate office a. the corner of 7th and F streets,
Thomas A. Mitchell aud he was followed by r
w. bowman and o. c. Green. Another firm.
Whitney Rohrer. had opened an office and
This was before the year 1859 While the real
estate brokers We're few in number and were
e,s TO oepSha sn .b on their real estate
activity This was e.p es s' ths ea.e
| for Mr.. Baker had associated with himself MI
| Latta. dealt almost entirely in country prop
s n 1he lsr the aaa sSan which
! Then Capitol Hill property began to attract
purchasers Just IT did In the early year. of
| that locality and houses were erected At one
time Capitol Hill property had quite boom On
! account Of statement that Philadelphia par
tie. were going to buy large lot of ground near
the Old Capitol prison and erect a fine hotel
there. There was an active sale at 10 and ID
cents a foot. remember that among the early
transactions of firm was the subdivision
into lots of squares S14, III and 1O1S. After
the improvements began in the northwest
prices began to advance, houses were erected
and tine real estate business began To increase
in proportions. There have been great changes
during these later years, and while the progress
has been steadily upward, yet, when we began
to feel the effects of the depression of 1873 in
this city, 1t seemed at times as if the bottom
was going TO fall out OF things. However the
peril wa. passed and the growth OF the city was
not checked"
10 give you some :dea" continued Mr.. Ohm.
stead. "of how real estate value. have changed
1 remember that when, in 1871, / bought a
square OF ground from Mr. Corcoran, betwcen
14th and 18th, L and streets, for fourteen
cents, he said To Inc: Il hope that you will make
as muen money "ut Of this as 1 have asked
him what he had paid for it, and he said tnat
ne bought in 1865 for eight mills u foot
remember that the owner Of Large lot cf .rourt,
lying ~ the southwest OF Iowa circle pait. fr *
four MILL a foot in ISIS. In The fourteen years
that have elapsed since 1871 land about
Dupont circle. which i. now selling Tor tour an.
four aud bali dollars per loot. was worth fi..g
ana seEenty-IiFe ana one dollar per foot, aud
durin. these years IL has gone steadily AZ nom
thee Lsu:ss 10 the present prices. ain very
much struck whenever / 20 away from home
By tue interest which people whom | usually
meet display III Ws>hiB .ton. Tncy want Il,
know all about the city. and il i, subject upon
when you cannot talk loo long and too much"
The GROWTH OF THE REAL ESTATE BUSINESS
Since Mr. Olmstead went into the real estate
bushes, in this city its character has almost
entirely changed and Judging from the num-
Der who devote their exclusive attention tn fhs
business, 1t has become one Of the leading
branches OF business in the city. The real
estate m-lI occupy the best offices, and along +
street where they are mostly found, their car
| Fi;tses Line TIE street curbS during bushes.
hoUFs They rent houses, buy sell houses.
besiGes dealing with lots, both city and sub.
urban AS a class they are always interested in
Whatever VIII advance the Interests of the CITY,
and they are quick TO perceive ana ready to
advocate measure. which will be of benefit to
| the community. The city now has so many
ATTRACTIONS 10 recommend itself to the stranger
| that 1t does not need the adroit wit and DimbIa
| tongue OF a ru.tler to boom il. The function of
feai estate dealer Is principally TO act
| medium between the man who wants to
! buy and the man who wants to sell
| and for this he charges u moderate
| commission. As the city continues to grow
! and improve the activity in real estate
keeps pace, and the dealer is contented and sat
/ considerable activity, but il has been confined
to transactions within the city, to the transfer of
| large blocks . land, expensive houses, or the
erection OF blocks of small houses. The sea-
| investors who are principally in government
employ, have not been inclined to go into en-
| terprises since the election and the consequent
| uncertainty in regard TO the tenure of their
Offices In consequence there has teen but little
done in suburban property, but it is supposed
a. soon as matters become more settled that in
| yestment will again be directed toward the
| various suburban Subdivisions, which will ulti-
| inately be built up.
| Mrs. Merrick,s Fnnopau