The evening times., 1897-09-30
BUYING A BAlk BUILDING
Mr. Peter Latterner Makes a
Heavy Real Estate Purchase.
BANK OF THE REPUBLIC SOLD
Sale Attended by a Large Crowd.
After Spirited Bidding 1t Was
Knocked Down for $4,000, Which
Is Regarded as "a Fair Price-Re-
cent Refusal OF $4,000 for 1t.

| Almost the last scene In the life o.
the old National Bank OF the Republic
was enacted at 5 O'Clock yesterday after
| noon in front OF the bank building on
| ID street, when a great crowd OF people
witnessed and took part In the auction
| sale OF the bank building by Mr.. Duncan
son.
1t was finally knocked down TO Peter
Latterner, a dyer, who has his place OF
business on Four-and-a a half street south
west, although the theory was freely cir
culate among the crowd that Mr.. LattsrHer
represented other interests than his own
The old, gray four-story brick building
at the corner Of Seventh aud ID streets.
in the heart OF the city, has been one
OF the landmarks OF the business quarter
for many years. u was built I'm S65,
and the Bank OF the Republic has car
ried Oh its business there since that
time.
The building is 20 feet on Seventh
street by 100 feet ON ID, making total
of $500 feet, and it is four stories
high. The corner is considered by many
to he one OF the best business corners
IN he city, and especially 80 for banking
property.
At O'Clock yester1a afternoon group
of heavy real estate and financial Ineii
and or curious onlookers began to gather on
the corner. Mr. II. A. Willard and Mr.
4. X willard, Mr.. Clarence Norment, Mr
r. Winner Mr.. Gus Lansburgh, Mr.. Rich
oil Mr G "a pr 10Th p
ing the owners oft the bank, and many other
business men, were in the group.
Alta few minutes after Mr.. Duncanson
came with three On four large books in his
hand. and began the sale by rcciting tue
merits Of the property.
Among tie early bidders were Mr.. Gus
taye Lansburgh, Mr.. Richold and NJ.
Feter Lattsrner. Tie property was finally
Knocked down to Mr.. Latterner. The bids
went up rapidly Y by thousands, until between
$50 900 and $4,000. At this point MIR.
j. B. Winner, the real estate man, coIn-
menced to bid, and the others, except
Mr.. Peter Lattsrner dropped out of the
game. These two gentlemen bid against
each other, raising the amount $500 ar
a time.
At last when Mr.. Latternsr had madetl
final bid of SIC, 900 Mr.. Duncanson turn
ed to Mr. Winner and looked him squarely
in the eye and called out, ''Once, twice."
and then, after long pause, Gone"
A murmur of comment on the price waved
itself through the crowd as Mr.. Latterner
walked up 10 Mr. Duncanson and gave his
name and address, and made the prelmin-
aIy overtures to secure the property In
his own name.
AS to the value Of the property, when
expert opirions were obtained, it seems
that $4,000 is considered a very fair
price for the present condition Of real
estate values in the District 1t is about
$50 foot. The building will probably rent
for $500 a month, which Is about 8 per
cent, a very good interest on the invest
ment.
In the bank statements for several years
the property has been put down at S70,0 900
1t liz understood that 100000 cash was
offered for the property a few days ago
and refused by Messrs. Woodward and
Parker.
This national bank building is part OF
the assets coming TO the stockholders of