The evening times., 1899-03-04
real ESTATE MEN
EXPECT GOOD sales
Many Enquiries for Business
and Residence Property.
Recent Purchases for Wealthy New,
cOmerS.
Plans for improvements on New
Hampshire Avenue-The Alum
dance OF Money.

Little is to be recorded in the real es-
tate situation except the general expecta-
tion of good business during the coming
months. Actual consummated sales of
property are few, and none during the
week has been of the first Importance. 1t
is the unvarying statement of all the
brokers, however, that the enquiries, both
for residence and for business property,
are more numerous than for several years
past. And it may be also stated that sew
eral important transfers are now being
negotiated.
The coming of new people TO Washing
ton seems likely to be one of the notable
features of the year 1899. Mention has
been made in this column in the past few
months OF several purchases for wealthy
men from the North and West, and of i'm
provements contemplated by several of
them. Nearly all of these gentlemen Will
make Washington their permanent home
in the future In addition to these hereto
fore mentioned arrivals, however, il may
be stated that already two or three other
prominent intending purchasers are now in
correspondence with local brokers.
This growing preference for the city as
a residence city by the millionaire class
is one of the most promising and pleasing
features of the entire outlook, and one that
is thoroughly appreciated by the real es-
tate men.
The intimate relation between the invest
ment of money in local securities and the
investment in real estate cannot be ques-
toned, and for this reason il is important
10 note that the demand for the stocks and
bonds of the street railroads, light compa-
MES banks and insurance companies, and
the advances in prices during the past
week has never been equaled before IN
Washington. The local stock exchange is
doing a very large business and the sales
outside the exchange are even greater. A
seat on the exchange sold yesterday for
81 600, the highest price ever paid.
The cause of this activity is, OF course,
the abundance of money. 1t is impossible
10 lend anything like all that is available
and anxious TO be employed. Loanlng rates
are the lowest on record. Investors have
turned first to securities as they always do,
but the limit at which these will be profit
able seem likely soon to be reached. Al
ready some OF the railroad and other stocks
will pay less than per cent TO the pur-
chaser at the present level of prices Real
estate must be the next field for the in
yestment Of this surplus capital
Emmons 6. Smith has purchased the site
for a fine residence, which he intends
tween r and Riggs streets, just south OF
the Thomas Nelson Page house. The
property was purchased this week from
Louis p Shoemaker.
The lot is described as lot Il. in square
I53. The price paid by Mr. Smith was
$4,000 The lot is twenty-five feet front
and contains somewhat over $500 square
feet, so that the price per foot was little
less than 81.
Mr. Smith is now having prepared the
plans for the Improvement, which 1t is
understood will be a handsome residence
IN keeping with the other fine buildings in
the neighborhoOd.
Mr.. Shoemaker is the owner of lots 60
and 20 on the same square, having 'front.'
age Of eighty-five feet on New Hampshire
Avenue. He contemplates putting either
q residence or an apartment house on the
property this year. This block OF real es-
tate was purchased by Mr.. Shoemaker ten
years ago. The appreciation in values on
the section since that time has given him
a good profit on the lot sold to Mr.. Smith.
The mention of these two contemplated
improvements on New Hampshire Avenue
calls attention TO the popularity Of the
avenue recently as a residence locality.
On 1t has been built some of the most
valuable private residences erected dur
ing the last few years. The handsome
apartment house a short distance away
has proven gratifying success
Secretary of State John Hay this week
purchased another piece OF real estate ad-
joining his large holdings in square 164.
The present purchase is lot q, in square
164 fronting on l. Street. II will be re-
membered that two months ago Secretary
Hay bought several lots in the square
part on Connecticut Avenue and part on
/ Street, thus adding 10 property that he
already owned in the square. This pur-
chase Rdioins his other L Street lots. The
deed recorded this week conveys the lot tC
Secretary Hay from Mary G. Moore, ia
cob G. Moore and wife. and Mary G.
SmoOt The price paid was SIS, ,230
Commissioners, Orders