The times., 1897-09-30
BUYING A BANK BUILDING
Mr.. Peter Lafiner Makes a Heavy
Real Estate Purchase.
The SnIe of the Cid Bank OF the
Republic Edifice Realizes "A
Very Good Price.

Almost The last scene in the life OF
the odd National Bank Of the Republic
was enacted at O'Clock yesterday after.
noon m front OF The bank building on
ID street WHEN great crowd Of people
witnessed and teok part in the auction
saIe Of the bank building by Mr., Duncan
spH.
Is WAS finally knocked down 10 Peter
Iatiner. dyer, " ho has his place of
husinrss ~ touT-anc-a- half street SoutL-
West, All hough the theory was freely cir
cula ted ,.iu.nE be crowd that Mr. LafineI
represented aahcr interests than his own
The Ola, gray iour-story brick tuilding
al the corner of Seventh aud ID streets,
an the heart OF The city, has been one
of the isndplarks of The business quarter
for many Years. q WAS built in s65,
and the Bank OF the Republic has car
red Oh its business there since that
time.
The building is IS feet on Seventh
street by l00 feet on d, making a total
II $500 feet, and il is four stories
high. The ooIner is considered by many
10 be one CT the hest business corners
in the city and especially 80 Tor banking
property.
At . @ clock yesterday afternoon Ercup
OF heavy real estate and financial mel
aud o. cuuous onlookers began TO gather On
the corner. Mr. y a. Willard and MI
Il. X wiuaTd Mr. Clarence Norment, Nh.
] n Winner Mr. Gus Lansbursh, Mr.. Rich
old, Mr. +. s. Parker ana others, represent
ing tbeowners of the bank, aud many other
ff.. F,.ts
Alta tew minutes after . sIr. Dunranson
came witt three oI four large books in his
hand, and began the sale by reCiUmg tie
merits OF the property.
Amorg the early bidders we've Mr. Gus
Lave Lanshurgh, MI. Richold and Mt.
Peter i4auner. The property was finally
knocked aowE 10 Mt Latmer. TIE bids
went up rapid yny thousands, until between
100000 and $50 900. At this point Mr.
J. B. Winner. The real estate man, coin-
Inenced 90 lid, and the others, except
Mr. Peter Launer dropped ont II the
game. These two gentlemen bid against
eacn other, raising the amount $500 II
a time.
Al Iast, when M Latiner had made the
final lid Of $4,000 Mr.. Duncansun turn
ed 10 Mt. winner and looked him squar rely
All AAir q W q IAA AClAkHA Jltr Eg8AICs lhtIEt
aud then, after a long pause, Gone
A Eaurmur 81 comment on he price waved
itself through the crowd as Mr. Latiner
walked up "a Mr.. DuBcans0u and gave his
name and address, and made tie prelimin-
ally 0yertures TO secure the property in
hs own name
A. TO the value Of the property. when
expert 3prioas We're obtained, il seems
price for tie present condition of real
estate values in the District. II is about
$50 foot. Tie building will probably rent
for $3.50 month, which Is about per
cent, very good interest On tie invest
meut.
In the bank statements for several years
thepropcrty has been put down at S70, 900
II ia understood that S60,0uO cash was
offered for the property few days ago
and refused by Messrs. Woodward and
Parker.
This national bank building is part II
The assets coming 10 tie stockholders OF
the 'ank, W hich recently went into hquida
ton tits one OF the BANKS of which Nj
s. W. Woodward and Mr. +. 5. Parker OIL
tanned oo9tro! I8st spring. The Bank OF
the EeEu iie went Tito voluntary liQuids-
blou SDOA aitef Jney aad obtained a CON
trolling lister s,t, ti-ig oai=e, Dein--, az they
sad a. that tire, 10 realize on the piany
valuable assets of tbc bank. with the ex-
pectstion Of clearing a good profit on their
investment
1ne directors of the bank have now
pald 10 he shareholders IO4 per cent
dividend since Messrs. Woodward anu
Parker acquired the controlling interest
THIS $4,000 fyr tie building itself VIII
mean another large dividend.
There was p rumor about yesterday AFT
eToou enc evening aTaCHg business IeD-
pie ihat the lincoln National Bank people
were q @ real rUrcha sers OF the property.
Mr. LatIHer, however, is the owner q!
considerable real ,siate of lis own, and +;
is said has IEadc two or three large pur-
oheses Of real estate for speculative p,lr-
poses