The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1889-02-18
THE PRESIDENTIAL SYNDICATE,
Mr., Cleveland Involved in Real Estate
Scandal Of Huge Dimensions,

WASHINGTON, D. c., Feb, 17,-Thl
President has been negotiating for thl
sale of oakyiew, his country residence
for some time, through the medium Of
prominent real estate broker, but so ial
all attempts to dispose Of the place at tht
price asked have failed,
According to the statements made al
the time OF the purchase the President
paid about $4,000 for the mansion and
something moro than twenty acres ol
land, Improvements which have been
put upon the house and land under bis
supervision have probably cost $4,000,
and consequently the property stands
him well on to $35,OOO, providing the
original price claimed was paid us stated,
There has always been a dispute about
this, It has been broadly asserted by
several Of the most reliable real estate
dealers OF the city that the President
paid only tho nominal price Of 81 for
the entire property, aud that the trans
action was arranged byR millionaire
real estate syndicate, which had pur.
chased nearly all OF the farms Of that
section, and wanted the President To-
Gated there 10 give the region a boom,
II this was the object the Presidents
purchase, or gift, certainly, had the de-
sired effect, A tremendous boom was
started In that direction, and through
the influence oil the syndicate and the
fact OF the Presidents location there the
District Commissioners, now two.thirds
Democratic, went into the scheme ofex.
tending Massachusetts, avenue, which
greatly enhanced the value OF uulm.
proved property in that region at the
general expense OF Taxpayers.
While the syndicate was In no hurry
to sell they disposed Of large amount Of
land In subdivisions for lots and villa
sites, and while they have not by any
means made the pile they anticipated,
they have doubtless well covered their
Investments, For the enormous profits
Of the original scheme they depended
on the reelection OF President Cleye-
land, but that failing, they are, to use a
popular vulgarism, "in the SOUP" The
only attraction in that direction, other
than the natural spread OF the city out
from the fashionable northwest section,
was the mere fact Of the presence OF the
Presidents country seat. That removed,
the solid bottom was out OF the whole
business.
The fact that the brilliant scheme OF
what might be termed the President
syndicate did not pan out what was an
ticipated, on account OF the unexpected
result OF the election, does not deter
other spectators from devising Sim
iliar project and using President Harri-
son to further their ends. II is already
reported that Mr.. Harrison is nego.
tiating for the purchase OF at least u
dozen country seats, and tis well known
that he can have any one OF several us q
gift II he will but take II and lead the
star OF the empire In that direction.
But the incoming President is not
only acquainted with the geography Of
the District, but is well posted as to real
estate matters, aud he Is mot likely to fall
into the trap Of real estate spectators
blindly, or to accept with his eyes open
q proposition to receive as a gift cOun-
try place solely for the purpose OF Gil.
riChfng lot Of gamblers In land, how.
ever much he may gain personally by
the trnnpHctinn