Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-10-21
Views in Regard to Present Condi-
ton of Market.
BUILDING FOR RIGGS NATIONAL BANK
Apartment House to Be Erected
Near Iowa Circle.
OF INTEREST

IF the question were asked why the real
estate market has been depressed and
values deprecated during the past six or
seven years. said Mr.. Louis z. Shoemaker
to a Star reporter, a would say that this
condition with reference to real estate has
continued for the same reason which exist
ed and has affected all values and all
classes of property. Dull times have pre-
vailed, confidence in the judfeious use of
capital in all branches of business was de-
stroyed. The laboring people were unem-
ployed. The factories We're closed and
business came practically to a standstill.
Real estate could no more be prevented
from depreciating, with all other species of
property, because of the situation which
then existed, than it can now be prevented
from increasing in demand and value with
new and advanced condition of all classes
of property and business generally.
The conditions which caused and sus-
tanned long as they existed the former
values of real estate are now returning, If
they have not already returned, lie, the
people are employed at fair and remunera-
tive wages in the trades and professions,
and this factor alone forms the best means
for the circulation of money and the dis
tributiOn thereof among the great mass of
our people 1t is an all-important element
in their prosperity. When it exists values
exception. for it fluctuates less and pos
sesses greater stability of value. Banks
are mismanaged and fail. Railroads are
forced into the hands of receivers. Trust
companies, insurance companies and mer-
camille establishments are sometimes i'm
properly managed and fraudulenty manip-
ulated. that the stock becomes valueless,
but real estate. while it may not at all
times be as salable at am advanced price
cannot be destroyed. Its values and stabili-
~ increase with the gradual but constant
extension and development of the city. sus-
tanned by the greater derSa nds pertaining
to and caused by the increasing wealth Of
the nation.
4 Change for the better
Looking back upon the condition which
existed in 1850, or seven years after the
financial panic of 1873. the candid observer
must admit the great change which has
occurred. and the phenomenal strides of
Improvement which Washington has made.
Indeed. we may say it has beeome city
since that time and greater security for
investments IN real estdte exists and that
the guarantee for future increased value
is more assured for the next ten years
commencing now, seven years after our
panic of 1893. than that which existed
seven years after the panic of 1873.
IF we 60 not remember the gloom con-
sequent upon the panic of 1873. we certain
y recoIect the great local and national
period of prosperity which commenced per
hdpS seven years later ana lasted 1OT ten
years or until 1880. when We began TO re
cede to the depression Of 1893, from which
we are now eXtriCatng ourselves, not only
locally but nationally. The history Of our
country reveals To MS not only the waves
of prosperity but also those, Of panic and
Gepre ssion through which our people have
passed
Outlook for the Future.
1T may be confidently stated that every
tide Of prosperity which we have exper-
fenced will be found higher, and it is to be
hoped that the depre Citations in the flu
ture will not be so disastrous, This we
may expect because of The greater stabil-
ity of our financial system. The larger
education of the great mass Of our people
not only generally, but upon particular
lines of business. their improved mode ana
manner Of life. and the Advancement OF
what we may call civilization, consequently
better Judgment will be exercised. also u
more conservative and prudent course pur-
sued.
1T is t. be hoped that there will be less
participation in rash and speculative en-
terprises. manipulated by men with fraudu~
lent Intentions and capab e of exercising
the same to the detrimeHt and injury OF
the innocent and Unsuspecting publlc. Inc
better morals Of the people and their great
er intelligence will prevent the success OF
wildcat schemes and enterprises, when
cOncOcted by INSCRIPTIONS and designing
promoters. 1t is also to be confidently eX-
ItCAed tiIdt me dhIitpi lllt wiz SNt N4"N
such vigilance, and perhaps supervision,
over public or quasi-publc enterprises, as
to prevent great frauds from being perpe-
tIated.
Demand for Real Estate.
IF rea' estate in Washington has not
recently advanced, certainly we must ad-
nit that everything else has-not only here
but Throughout the country generally. Can
real estate which forms the best element
of SECURITY, the most subSt antial and re-