Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-07-22

MKEJh1z Ur4H, bought some years be-
WoASHAuRT' fore Grants death by
his friends, George W.
Childs and Mr.. Drexel Of Philadelphia. and
was made present to him. Drexel and Childs
paid $50. 900 for the house and 1t formed Gen.
Grants home during his last days. In it he
wrote part Of his book and from it he
went to Mt. McGregor to de- After
Gen. Grants death Mr.. Childs advised
Mrs. Grant to sell the house, telling her that
she would probably find 1t too large for her
use. and that by investing the money which
came from it she could get q better income
than by renting it. Mrs. Grant refused to do
this. She did not like to part with the prop
cry largely Tor sentimental reasons. and she
told Mr.. Childs that she had refused an offer Of
el00 900 for it. As time went on. however,
she found the property rather a burden than a
source OF income. She has been living in the
country with her son, Ulysses s. Grant, jr..
and not long ago she received this offer of
$1S5, 900 for the house. She wrote Mr.. Childs
and he advised her to accept it. She did so,
and as soon as she received the money
telegraphed Mr.. Childs to come to
New York to meet her. Upon his appearance
she told him she wished him to invest
this money for her. She said that Gen. Grant
had relied upon his business Judgment
more than upon that Of any other man in the
world, and that she wanted him to take this
money and to place 1t where he thought best.
She thereupon gave him a check for S135, 900,
and he took this with him to Philadelphia. On
the way there he fell into conversation with
friend, and this man asked him something
about Mrs. Grant. Mr.. Childs 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:
II shall invest it in mortgages secured by
Washington real estate, which will net Mrs.
Grant per cent. l believe Washington prop
erty is the soundest in the United States today.
1t steadily grows In value and it will not be at
fected to any extent by panics or strikes"
How Statesmen Make Money.
1t Is wonderful how many statesmen are
making money out OF Washington and how
capital flows in q steady stream from all over
the country into the District Of Colu ubia
Postmaster General Wanamaker sold the Whit
ney house the other day 10 a rich New Yorker
for $50, 900, and this man already owns large
amount OF Washinston property. A number
ments here, and Lolita is said to
own number Of houses west
Of the White House. Richmond 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 1t, but the land
surrounding him has doubled and quad
rupled again and again since he purchased it
and IL Is now sold by the square foot
instead Of the acre. Cleveland made just about
s100, 900 clear off Of it and Secretary Whitney
realized about SIS, 900 from the sale of Grass
lands. drove yesterday 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 % 900 to
bnn bay hoa,,
built on some Of 1t, and just across the road
from where President Cleveland's country
home now is is the mansion OF Gardiner Hub
bard, Telephone Bells father-in-law, while on
the other side Of it, nearer the city. is the
beautiful home Of another millionaire, Mr..
James Elverson, the editor of the Phi ladelphia
Inquirer.
Famous Real Estate Spectators.
Senator John Sherman said the other day to
a Cleveland. Ohio, man that he owned in con-
nection with his brother-ln-law 1000, 900 feet
Of land on Columbia Heights. This land is now
worth Q dollar foot and upward, and as a
great part Of it is made up Of some OF the
choicest land on the Heights, it cannot be worth
less than 81 800, 000 Senator Sherman was one
OF the syndicate who bought the Stone estate.
which was put on the market in lots not more
than ten years ago. They got it FOR few
thousand dollars and the land is now worth
millionA Senator Sherman Is born money!
maker. Had he not been in public life he
would have been a millionaire and would
have made name as great business
man. When he began life he decided
to save $500 year. and venture that his in
GREASE Of his fortune now amounts TO some
thing like q thousand times that amount an
nually. He is q builder we'll n dealer in
land, and he has a large number OF houses at
the capital, which bring him in q steady in
come. He bought the old house Just below
him which Edwin NJ. Stanton once lived in a
year or ago for $35, 900. and turned it over
In the course Of a few months At q big profit.
The house which he is building will be worth
when it is completed at least S100, 900, and you
could not buy the one next door: in which he
Is now living for ESQ 900 cash. He has always
had great faith in the growth Of the national
capital and has owned more or less real estate
ever since lie came here to Congress way back
in the ffties.
California Investors.
Some Of the biggest houses in Washington
are owned by western men and California mill
lionaires have always had faith in real es-
tate in this city. Not long ago the late Sena-
tor Stanford was taking q ride across the Poto-
mac and he stopped his horses at the end Of
the Aqueduct bridge. near Arlington. At this
point you get good view Of the river on the
Virginia side Senator Stanford 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
here and buy me all you can see in every direc-
tion from this point. II 1 get it we
will then build q magnificent bridge across the
Potomac, will run cable electric railroad
across il and make new city on these hills. :"
His secretary at once looked into the purchase
but he found that the land had such question
able titles that it would take several years to
straighten them out. Befors proceeding far
Their he went to the Senator aad Stanford told
him to give the matter up. Said he: 81 am too
old man to begin to fight real estate suits and
do not need the monev that this investment
might bring me- guess you had better let IL
Co." And so it went. Had be bought it it
would now form big part OF hi, estate:
The largcs, zeal estate syndicass in Washing
ton today is Known as the California; syndicate
1t Is made up Of the Sharon estate, Senator
Stewart and others, and it has already put
millions into its purchases and their develop
msnt. II owns hundreds upon hundreds of
acres Of land which will probably be diyidel nm