Evening star. [volume] (Washington, D.C.) 1854-1972, 1890-12-13

SOME RICH MEN WHO OWN PROPERTY IN THIS
cITY-rHE TALK ABOUT THE PROPOSED ExTEy-
SION OF SIXTEENTH STREET AND THE CITY
STREETS GENERNLy-OTHER MATTERS.
ASTHE CHRISTIANS HOLIDAYS approach
~ it is noticeable that there is a lack of in
terest in real estate Vt least this is true of the
public generally. although the real estate
brokers' as a rule manage to maintain an in
terest if not an enthusiasm in lots and hun ses
all the year around. In en- important particular
these real estate men don't happen TO be the
public as far as real estate is concerned. and as
Il result there is now preceptible that pre-holi-
day feeling. which IL not conducive to sales or
productive of commissions. There Is, however.
always a certain volume of business which
keeps up through the heat of summer and the
cold indifference OF the holidays and at present
there seems to be more than the usual amount
This latter fact is one of the encouraging feat
Ures of the market here, because in addition to
the near approach of the holiday season. the in
huence of the financial furry in New York has
been felt here to some extent. it has in all
parts OF the country. The effect, however. has
been sympathetic more than anything else
and while, the tone of the market is some
wha; quieter than during the active spring and
Summer Of the present wear. the market Is just
as steady and prices are just firm ever.
market here well as the sound bash of opera
tons Is manifest by the fact that no backward
sep l. taken Property Is certainly no cheaper
ami IN s''nle instances IL Is higher than it
last spring. for example. 1t Is evident that
speculation l. not carried to extreme and
that people who buy property able to hold
IL even through dEl market.
Mr.. 2ARKERs VIEWS.
In talking with STAR man Yesterday in re-
gard 10 the present condition of the market
Mr.. VI VI. Parker. the real estate broker said:
IRON the experience of my Office and careful
observation am justified in saying that prices
have been very firm AID so far as know not 4
sale has been made on which the owners have
not realized a far profit. and in many instances
the profits have been beyond reasonable ex-
peetation- The Official records will also justify
the statement that during the past four months
the volume of business HIS fallen off very
little This statement Is fUrtIe- strengthened
BY the title companies. who have told me dur
ing the present week that their business for
these months was practically the as in
previous wears. OF course the frs. property
To feel a tight money market would be outside
or what l. called suburban property Quite a
large amount OF this property has recently
changed hands In the Subdivisions adjoining
Washington. such as kalOrama. Washington
Heights. Meridian Hill and Columbia Heights
In all these locations sellers have realized sat-
lsfaetOry profits IL Is true tha; these subdivi,
slons are now practically III the city. They
are, however. sufficiently out To- show that a
tight money market has not materially affected
real estate. IN the bIainess centers property
has been unusually active and prices paid far
III advance OF previous sales. Fortunately
Washington investors. Particularly those who
invest largely. are capitalists who are beyond
the influence OF panlcs. As "a matter OF fact
our city Is conservative. We have never suf-
fered from the generalization of "a boom: val
ues rarely ever go beyond the demands of
heaithy growth. increased population and adj
diSonai foreign capital. Anothe- good reason
why real estate has not suffered by reason of a
close money market is the fact that very few
applications are made for loans.
GOOD BANK SHOWING.
The most favorable conditions also exist
with respect to our banks. During all this
pinch bank customers have received their usual
discounts, 50 that in the commercial line there
has been no embarrassment. Our banks have
never been IL better condition than they arr,
To-Day ANY one Of them cOlld put on its
counter hundreds of thousands of dollars on
twenty four hours notice. Money of course has
been ti1h:. in sympathy with New York, and
or banks and trust companies have been CON
seryati'e IL 10 new loans. which is quite right
anu l. an evidence of reliability. / happen TO
Know that the deposits i'll the American Security
and Trust Company have been steadily increas-
ing ever since this pinch commenced Local
stocks axe on a few points. and the transactions
Daring the past month have been unusually
large. showing that there is plenty of money
r,d';y 20 accept tempting investments. There
have been bur few CONNIE -ciai failures through
out the country Alread money is easier in
London and New York A. 10 the country at
Earge. II l. believed that the worst is past but
should tbs not be the Washington i prac-
tleail~ outside the possibilities of financial
trouble" During the past yea millions OF
foreign capital have been brought here and
millions annually disbursesl bt lsiie &c neral
government. Life ii Washington therefore, IL
not only social but financial luxury.
THE LAIE WASHINGTON MLEAS.
Like the vast majority of wealthy men who
come here TO live the late Washington Mclean
appreciated the advantages of investing in real
estate in this city. He was a careful judicious
investor and during his residence of eight
years here he became the owner of con-idera-
Die property At the tine of his death his real
estate holdings were quite valuable. He owned
the house Oh Lafayette square where he died.
lie built the NOrmaudie Hotel and the title to
mat property s;lI stands an his name. He had
aI'o purchased two valuable pieces of property
On 10Th street nearly opposite the Shoreham
and owned property on Pennsyiyaaia avenue
above 18th street. \ conservative estimate
would place the value of his estate in Washing
ton property a. least at half million dollars,
which would include also his interest in the
property of the Massachusetts avenue syndi-
cate His SON. Mr.. John Il. Mclean Is also a
large owner of zeal estate here and his holdings
comprise both improved and un,mproved prop
ePy- Perhaps the uIOst valuable property
which Lie owns Is the north half Of the
where his hous. Is located. He recently sold
piece u property at the southeast corner of
lzth and e streets. which he bought q wear or
TWO ago at a low figure. He obtained so
square foot for IT, which a handsome profit.
me extensive Investments maee In Washington
-e.ai estate by such shrewd operators show the
estimate which Ii placed by competent judges
w NE value Of property in this city.
mr. BLOUNr's RESIDENCE.
MI Henry i. EiOunt OF Evansville. Ind, is
another man of means who has within the past
year or two made his permanent home in this
city He has also become quite large owner of
property here. He has invested in some bust
ness property on street, but his principal
holdings he outside Of TIE city limits in the
immaculate vicinity of his home which is the
mouse formerly the residence of the president
OF columbian University and located in the
ground that surround the old college build
lngs. Ihis property was purchased BY the late
W T. Hi and his subdivision OF i. is known as
Snsersly fark- Here Justice Harlan's fine
home Is located. Mr.. Blount purchased quite
block OF land there year or two ago. which
ne recently sold. and very proftablY too. He
is.now the owner Of the west half of the square
where the WayLand Seminary is located His
land commands q fine view OF the city and has