The morning call., 1893-07-23
Statesmen as Real Estate
Spectators.
FORTUNATE INVESTMENTS.
John Sherman's Operations in WASH
ington Property-Cameron's
Big Deals.
Correspondence OF THE MORNING CALI.

WASHINGTON. II, 1898 - Mrs. Gen.
eral Grant sold her New York house few
weeks ago Tor S135,O0O and l understand
that this money is to be invested In per
cent Mortgages on Washington property.
Inc story OF the sale is an Interesting one.
The house was bought some years before
Grants death by his friends. George w.
Chlids and Mr. Drexrl. Of Philadelphia,
ana was made present to him. Drexel
and Cnllds paid 100000 for the house and
1t formed General Grants home during his
last DAYS. In it he wrote part of his book
and from II he went to Mount McGregOr
to die After General Grants death Mr..
Childs advised Mrs. Grant to sell the
house. telling her that she would pro baby
IND 1t too large for her use and thatby in
vesting the money which came from it she
! could get better income than by rentiug
1t. Mrs. Grant refused to do this. She
did not like TO part with the property
largely for sentimental reasons. and she
told Mr.. Chllds that she had refused
an offer of 100000 for it. AS
time went on, however. she found
the property rather burden than source
or Income. She has been living in the
country with her son. Ulysses 5. Grant Jr..
AID not long ago she received this offer of
S135.OuO for the house. She wrote MIR.
Chllds and he advised her to accept it.
She did so, and as soon as she received the
money telegraphed MIR. Childs to come to
New York to meet her. Upon his appear
ance she told him she wished him to invest
this money for her She said that General
Grant had relied upon his business
Judgment more than upon that of any other
man in the world. and that she wanted
i'm IN 70 l,n ,lon~
where he thought best. She thereupon gave
him check for S135.000. anh he took it
with him to Philadelphia. On the way
there ne fell into conversation with a
friend, and this man asked him something
about Mrs. Grant. Nix. Chids thereupon
told the above story which his friend tells
me. AS Mr.. Childs showed my friend the
check he was asked what he expected to
do with the money. He replied:
shal invest it in mortgages secured
0y Was shlngtOn real estate, which will net
Mrs. Grant per cent. ] believe Washing
ton property is the sOundeSt in the United
States to-day. 1t steadily grows in value
and it will not be affected to any extent by
panics or strikes"
1t is wonderful how many statesmen are
making money out OF Washington and how
capital flows in steady stream from all
over the country into the District OF Co.
lumbia. Postmaster General Wanamaker
sold she Whitney house the other day to a
rich New Yorker for $4,000, and his man
already owns large amount of Washing
ton property. A number of actors ana
actresses are making investments here,
and Lotta Is SAID TO own number OF
houses west of the White House. Rich
mond parties have bought great deal of
our suburban real estate. and President
Cleveland made about 500 per cent
on his Oak View purchase. He lives
now within sight of it, but the land
surrounding him has doubled and quad
rupled again and again since he purchased
1t and it is now sold hy the square foot in
stead of the acre. Cleveland made just
about 100000 clear off it and Secretary
Whitney realized about $4,000 from the
through this region. The farms are now
planted with real estate signs, instead of
wheat and oats, and ground which could
have been bought eight years ago for $500
an acre is now worth from $1,000 to $4,000
an acre. Magnificent houses have bee
built on some OF it. ana just across the road
from " here President Cleveiand's country
homo now is is the mansion of Gardiner
Hubbard, Telephone Bells father-in-aN,
while on the other side If 1t. near the city,
IS the beautiful home of another milton
aire, James Elverson, the editor OF the
Philadelphia Inquirer.
Senator John Sherman said the other
udN w d SltNtIdHu kOUloJ Ildu tIldL lie
owned IN connection with his brotEer-jn-
aw 100000 feet of land on Columbia
Hei- his. his laud is now worth dollar
foot and upward, and as greater part
Of 1t is made up of some of the choicest
land on the height it cannot be worth less
than S1,500000. Senator Sherman was
one Of the syndicate who bought The
Stone estate, which was put on the mar
ket III lots not more than ten years ago.
They got 1t for few thousand dollars and
the land is now worth millions. Senator
Sherman is born money-maker. Had
he not been IN public life he would have
been millionaire and would have
made name as great business
man. When e began lie he dec ded
to save $500 year, aud venture that his
increase of his fortune now amounts to
something like thousand times that
amount annually. He Is builder as we'll
as dealer in land. and he has large
number oi houses at the capital which
brng him in steady income. He bought
the cid house just below him which Ed
win Nj. Stanton once lived in a year or so
| ago for $4,000. ami turned it over in he
course OF few months at a big profit.
The house which he Is building will be-
worth. when 1t is compee ed. at least 500.
600, and you could not buy the on next
door, in which he is now living. for $50. 900
cash. He has always mad faith In the
owned more or less real estate ever since
he came here 10 Congress way back in the
| fftles.
Some Of the biggest houses in Washing
ton are owned by Wes'ern men and Ca
lf0rnla mllllOnaires have always had
great fai h in real estate in this city. Not
long ago tie late Senator Stanford was
king ride across e Potomac and he
stepped his horses at the end OF the Acque-
dnct br>dg", near Arlington. At this
point yon get good view of the river on
the Virginia side. Senator Sanford stood
up in his carriage and looked up and
down it and then said to his secretary.
who was With him: II want you to look
into the values of land about b re and buy
me all you en- see in every direction from
this point. | get it we will then bnitd a
magnificent bridge across the Potomac,
Will run cable or electric railroad ncros,
1t and make a new city on these hills.
HIS secretary at once looked into the
purchase. but he found that the land had
such questionable titles that 1t would take
several years to straighten them out. Be
fore proceeding further he went TO the
Senator and Stanford told him to give the