The evening times., 1898-12-31
A HOLIDAY WEEK IN
REAL ESTATE CIRCLES
The Market Dull and Fruitful
of Few Sales.
Outlook for the Coming Year In
spires Confidence.
Abundance OF Idle Money and the
High Price of Securftfes-Street
Railroad Extensions.

The past week has been a holiday week
in all its significance to the real estate
men and architects, which means that it
has been dull and fruitful of few sales and
few new building plans. 1t is one of the
axioms of the business that people will not
talk Of real estate between Christmas and
New Year. But there is nothing except
good feeling prevailing among business
men, despite the lack of business. The
business done already during the autumn,
and the unquestionably excellent outlook
for the coming year, have inspired every
body with confidence.
II is the fact that there is more inquiry
for real estate than at any time in the last
six years; that many large sales have been
made, and that others are in prospect for
the near future. Ii is possible now, also,
10 get the average investor to talk of real
estate bargains, where few years ago
sales were not made in months.
The abundance of idle money, the very
high price of securities. which makes even
the best of them net the investor only 8
or per cent; the prospect that money
viii be even more plentiful during the
next few months, make ii certain that cap
italists and people with small savings Will
turn to real estate at its present low prices
dS dU ONAiCl 4t OplsilOuS Vi NIS bG9A bus-
mess men of the city have been obtained
by The Times during the last week as TO
the outlook in the real estate field. They
are unanimous that there is 10 be great
revival. Most people are of the belief that
the best previous periods in the city's
growth will not compare with the next two
or three years in this line.
Building operations Will go hand in hand
with activity in real estate. The people
who viii venture into investment in The
coming year viii be largely Of the depart
ment clerk class and others OF moderate
means, and their desire Will be 10 Tecure
homes for themselves. This will mean
that transfers of real estate and the cree
tion of new houses in the suburbs viii be
largely increased. and as has been said
before in this column the new policy Of the
Government and its new possessions will
bring a large influx OF new people 10 the
Capital City. Many of these Will be men
Of wealth. The activity in the finest char
acter of urban real estate and in the more
pretentious building operations will be as
great.
provemeDts during the coming year Will
be one OF the most potent influences to-
ward prosperity in real estate. The con-
struction of the rapid transit system to
lexington, the extension OF the Metro
politan road system 10 Mt. Pleasant and
the extension of the Anacostia line with
rapid transit TO Congress Heights. east
OF the Eastern Branch, will give the best
of urban facilities to these sections that
have heretofore been without them 1t
will bring them within easy reach of the
business part of the city and will remove
almost the only obstacles that have bsen
in their way. 1t now seems probable that
all OF these extensions will be made dur
ing the year 1899 Other equally i'm
portant improvements of the same nature
are under contemplation by the railroads
and viii be taken up in the near future.
The most important real estate sale Of
the week was undoubtedly the transfer at
auction yesterday of the Columbia Ath-
letic Club building and grounds on G and
Eighteenth Streets to the Young Men s
Christian Association. The price paid for
the property was about $4,000, exclusive
of s. zoe or more back taxes. The build
ing is a modern club house, one Of the
finest in the country and its original cost,
exclusive OF the ground was probably
Sl65, coo. The real estate includes lots 26,
% 2S, 80, SO, 50, and 60 in square 169. 1t
contains between % 600 and 10000 square
feet of ground and at the sale yesterday
there was offered for the ground alone 81
a foot, which is considered a low price.
The sale and the intentions of the !. NJ. c.
A, with regard TO the property, were de-
scribed fully in The Times this morning
II is the intention of the new owner to
erect an auditorium for its use on one of
the vacant lots acquired.
The purchase by Ex-Governor Merriam
of Minnesota, of the residence, No. l414
Sixteenth street, from John o. Johnson
through the real estate brokers, Early &
hampton, is one of the most interesting
and important real estate transactions of
the week. The sale is described more fully
elsewhere in The Times. The price paid
by Governor Merriam was $27 500, which,
including the improvements, is about $40
a square foot. The lot On which the resi-
dence is built is lis, in square 1S1. Ii has
a frontage of twenty-five and one-half feet
on Sixteenth street and a depth of 125 feet
The residence is a handsome one at pres
ent, but IL is the intention OF its new own
er to erect large addition 10 it and TO re-
model the enire building at a cost of sew
eral thousand dollars.
An important transfer of improved real
estate in Georgetown, heretofore describ-
ed in The Times was the sale by H. p.
Gilbert to C. NJ. Campbell of the build
ings and grounds at 1894 and 323S Water
Street. The property is on the south side
of the street and carries with il the wa
ter rights to the centre of the Potomac.
Mr.. Campbell is the President of the
American Kinetoscope Company. which
has occupied the buildings, and it is the
intention of the company TO remain in
them permanently.
Tyler and Rutherford, the real estate
brokers, have just completed the sale of
the lot adjoining the former Jenness NJ l.
Ter residence in Washington Heights to
Thomas f. Walsh. who last week pur-
chased the residence itself. 1t is under
stood that Mr.. Walsh intends to add the
lot to the grounds around the residence.
Grand Jury Indictments.
Indictments returned by the grand jury
today against the following persons for the Of
fenses charged: George Brown and Frank Mack
hniIsnireakinp. Rrrnar1 l. knannn larl.t ny. Rose