The Washington times., 1894-04-15
NO BOOM IN REAL ESTATE
But Signs of a Healthy Growth Of the
Demand, for Good Property.
MONEY PLENTIFUL IN BANKS
Noticeable Increase Of Flats in Washington.
Many Subdivisions Opening Up-Mr.
Winner and His Connecticut Avenue
Heights Property.

Real estate dealing has not been SO active dur
ing the last week, but there are many evidences
of an increased interest in real property in the
District, and those most directly and largely
interested feel satisfied that the depression in
business is at last giving way and the pros
poets for the immediate future are brighten
ing Dealers and builders are talking hope
fully. not in '.boom" way. but of steady and
permanent demand for good properly.
This hopeful feeling is also felt by the man.
ayers of the various building and loan asso-
Citations. They say that Notwithstanding The
great depression that has been so seriously
felt the payments to the associations have
been kept up in q remarkable degree. There
have, of course, been some defaults in pay
ments, and some have withdrawn their saw
ings, but most Of the Withdrawals have been
occasioned by changes in the departments.
The aggregate of new memberships has not
kept pace quite with the aggregate OF with
drawals, but the managers see nothing dis
couraging in this fact but feel assured that
there Will be very noticeable increase to the
membership from this on. There have been
heavy drafts on the loan fund Of each OF the
organizations, and very liberal spirit has
dominated the management in this particular,
and to their hberality in making loans is due
much of the relief the District has had from
the .'hard times"
The banks are all well supplied with money,
but they still hold the purse strings pretty
tight and are not loaning up as near to the
real value OF the property as they did year
ago, but the bankers are beginning to talk in
a more liberal spirit. One prominent loan
agent said that there was more than a half
million OF New York capital here to be loaned,
and that New York capitalists regarded Wash
ington real estate about the best security in
the country.
There has not been a great deal of building
begun yet, but the architects are all busy
making plans and specifications for proposed
structures. A prominent builder said one of
the misfortunes of Washington was the ab-
sence OF flats, such as are found in New York
and Chicago. and thinks that had number
OF the blocks that have been built within the
past two or three years been constructed as
flats they would have found ready tenants at
remunerative rates He said that a number
OF gentlemen were contemplating the erection
Of an immense apartment house in the north
west but as they had not yet secured the
property they desired it would be injudicious
10 give the location they had selected II they
succeed in getting the ground they want. they
will put up ten-story structure divided into
seven and eight-room hats. with all the nod
ern improvements, fire escapes, fast eleva-
tors. etc.
As an evidence of the fact that matters in
the real estate market are presenting an en-
couraging aspect it is only needed to point
to the numerous subdivisions that are being
opened up. These new subdivisions show the
nF hp .siry nd raj
the faith of the owners. One of the most
attractive of these subdivisions is that at the
head OF Connecticut avenue, but two blocks
from Dupont circle, where hundreds OF men
and teams are now being given employment
in cutting down the hill, grading the lots,
and making streets and alleys
This subdivision viii open some Of the most
valuable and handsome residential sites in the
city, both for home property and as a specu-
lative series of lots. This subdivision is under
the care ot Mr.. J. B. Winner, and is TO be
known as Connecticut avenue heights"
This property overlooks the choicest part of
the city. and Connecticut avenue is the favor
tie driving street Of Washington. The work
now in progress eontemplates the expendi-
ture Of many thousand dollars in the most
improved street paving, sidewalks, sewers,
cutters. curbs. alleys. terraces, light, trees,
and in fact everything calculated to make
the property complete in every detail.
Inspeakins OF this and other property Mr.
Winner said:
4 continuously growing city requires a large
amount Of capital to assure and maintain its
progress and TO stimulate development on sub
stantial and healthful lines, and there Is no
channel through which So much money flows.
and where such large amounts change hands, as
through real estate. After all is said and done
the most serious question Of the average Amer
lean is how TO make money. Real estate is the
ideal asset The value OF real property and the
increase OF population keep pace with each
ncify n in
lation the value Of real estate VIII also increase,
hence iudiciously purchasing reai estate in
growing city is always safe investment.
No city in the country is more steadily growing
in favor as residential city than Washington.
Men who have made their fortunes in other cities
coming here TO enjoy the fruits of their labor.
IL is becoming more and more the literary center
of the country, and that is adding TO its popula-
ton and to its popularity for residence. Real
property in some localities may have been
held at a higher price than the demand for such
property has warranted, but the city should be
studied as whole, and nowhere have prices
been better maintained than here, and that fact
speaks volumes for the city. The general de-
preston that has been felt throughout the whole
country has had its influence here but it has not
been so marked as in other places. Experience
shows that after every season of depression has
come a hearty reaction, and Washington is now,
in my Judgment, on the eve of that reaction
The Commissioners recommend favorable
action upon II. II. bill 6522. ITO provide for
the support of wives and minor children in
the District of Columbia, and for other pur-
poses"
That the special assessments dated March
&c. 1894 for sidewalks on Tenth street. be-
tween Pennsylvania and LouisianaNvenues
northwest, be cancelled as erroneous. and that
new assessments be made in accordance with
the corrected statement of expenditures.
The Commissioners have recommended to
Senator German. chairman of the Senate sub
committee on District appropriations. that
100000 be appropriated for sprinkling,
sweeping and cleaning the streets and ave-
nues OF the city. and have transmitted state
ment of the superintendent of street and
alley cleaning showing the necessity for such
appropriation.
The Commissioners have submitted to Sec
retary Carlisle an estimate of deficiencies for
the fiscal year, and request him to transmit
the same to Congress for early action.
Horace Greeley and His Bride.
From Press and Printer1
"When he was first married and brough
L /. r. l. IL