Evening star. [volume] (Washington, D.C.) 1854-1972, 1891-08-22

NEW DISTRICT surLpxo AND IT'S PRorosRp
IocATIoS-orHRR MATHIS OF INTEREST.
HNHE MIDSUMMER DULLNESS m THE
= real estate market Is giving place TO the
activity Of the fall season. At least business In
becoming somewhat brisker, although there 10
BY no means that rush which causes q truly
live real estate man TO say that he is busy. In
small properties dealers say that there ID con.
siderable being done just at present, and they
are confident that when the mountains and the
seashors restore TO their homes the substantial
citizens who are there contributing to the bank
accounts OF the hotel keepers some large deals
will mature. or course, it 10 natural for dealers
TO talk great deal Of large purchasers.
yet after all they will admit that IL is the small
investor who gives backbone to the market and
forms the basis Of the prosperity of the city.
There is no fact that is more significant in the
recent growth Of the city than the large pro-
portion of houses Of moderate cost that have
been erected. These are the houses Of people
OF small means, and as they are very largely
owned by the occupants it 10 evident that
economy and thrift is a Characteristic Of the
citizens Of the District. Not only are large pro-
portion Of the residents property owners in the
sense that they own their homes, but they are
owners Of real estate in addition. The areas Of
land that have been subdivided into lots and
sold on. are an evidence Of the existence here Of
q goodly number Of investors in property.
The sales Of suburban property have been made
to residents, and the list of taxpayers contains
very fair percentage Of the entire population.
To people Of small means the investment in real
estate means a saving Of money, and as habits
OF economy prevail so the prosperity Of town
10 advanced.
There is another striking illustration Of the
financial resources Of the city in the large num-
Der OF stock concerns that have been organized
with capital contributed almost entirely from
local sources. A-well posted business man said
the other day that during the past three years
no less than nine millions of dollars have been
invested in the stock Of the various banks. trust
companies, insurance companies, railroad COM
panies and other enterprises that have been
started to meet the demands Of the growing
nous sum OF money. and when the investments
in real estate are taken into consideration the
grand total gives m idea of the wealth OF the
city which 10 rather impressive.
NEW DISTRICT BUILDING.
Now that the city is to have at last a building
for the post Office that will be worthy Of the
name, it is natural that there should be q strong
desire that the Offices Of the city government
should be located in quarters adapted to the
transaction Of public business. The vigorous
utterances. Of Commissioner Douglass on
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ago in The STAR, we're generally COM
mented upon in real estate circles
There is no difference Of opinion on the point
of the necessity for building, centrally located,
where all the offices can be accommodated.
The location suggested on Pennsylvania ave-
nue. between 7th and 9Th streets is favored by
some, while others consider that q site nearer
the proposed new post Office building would
better subserve the interests Of the public. At
any rate. generally speaking, a site somewhere
along Pennsylvania avenue would seem to meet
with general approval. The erection Of two
and the District building would certainly
greatly improve the avenue, both architect
urally and In q business way.
NOTABLE HOUSE.
The residence which Mr.. L. z. Letter is
building just north Of Dupont Circle is going
to be one of the notable houses in the city
The walls are just rising above the foundation,
and the progress Of the work is watched with
curious interest by those who walk and drive
past The site. The house will have a frontage
Of about 100 feet on New Hampshire avenue.
immense porto cochere. resembling very much
in its design and size the one at the White
House. The entire house will be of the
same magnificent proportions, and while this
fact would give the building prominence
among the fine residences of the city, yet the
material used will add the further feature Of
entire novelty. The walks will be built mainly
Of white enameled bfick and the trimmings
will be white marble. The sumptuousness Of
the effect will be enhanced by the simplicity Of
the design, which follows the plain lines OF the
colonial style Of architecture. There will be
no attempt to impress by mere ornamentation
or by a lavish display u architectural conceits
The building by its mass and it's graceful pro-
portions will tell its own story OF simple ele-
gance.