Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-09-02
Confidence Felt in Substantial Return
of Coed Business,
DEMAND FOR VACANT PROPERTY
Review of Past Periods Similar to
the Present


is full of promise for an early return of
good business and steady activity. OF the
numerous sales recorded in the last few
years. or since the panic of 1893, it is no
ferrous that the vast majority of them, es-
timated at SO per cent were really in the
nature of trades and the actual transac-
tons On a money basis not greater than 20
per cent. At present every indication points
to sales rather than transactions of the
trading Sort and this is especially true in
regard to vacant, as distinct from i'm
proved. property. 1t is in vacant property
that money almost always seeks invest
ment in speculative sense, and there is
so much money now looking for remunera-
tive investment that 1t cannot fail to be
attracted by the unquestionably superior
advantages of District realty
In the course events usually take after
depression in business, known as a panic
1T is a matter of record that return to
good times Is never reached until six or
seven years have passed, and that real es-
tate. which is first to be affected, is last
to feel the impetus of returning prosperity.
1t is very easy to prove this by the relation
of occurrences in the District, and to go
back to the panic Of 1873 an emphatic illus
tration is obtained.
There was no substantial revival until
1861, ana tnen an era OF speculative IN
vestment began, to which can be traced
many substantial fortunes. To be explicit,
in that year square 115, fronting Dupont
Circle and Immediately south thereof, was
a vacant block. 1t was. subdivided into
building lots. Sunderland place, named after
the owner of the square, was run through
it and the property sold at auction. The
highest prices brought for lots were 10
cents a foot for property fronting on Du-
pont Circle, now occupied, among others.
by the residence of Rev. Mr.. Aspinwall,
and 10 cents a square foot for lots on 10th
street. In the same year square 139, south
of the British embassy was similarly sub
divided, and Jefferson street run through
it, Auction sales here brought purchasers
at similar low prices. Such men as George
w. Riggs, w. W. Corcoran and other
wealthy citizens held up their hands aghast
at the temerity Of the people who pur-
chased the property. Thesk critics declared
1t was too far out to ever be considered as
a rempnerative Investment Fifteen years
later L. Il. Letter paid for land not any
more eligibiy situated the sum of IS a
square foot and built his residence thereon.
Since then there has been considerable
deterioration in the value of what was once
outside realty. and is now inside property
Investment in it is no longer considered
as profitable, and speculation is seeking the
vacant property on the higher ground out
side the city limits as has been shown in
the development of Columbia Heights,
Washington Heights, Meridian Hill and
other suburbs, which rapid transit has
made part of real Washington.
The prevalent opinion among experienced
men in the real estate world, who are in
the business not as spectators them
selves, but for the legitimate returns they
receive from commissions, is that invest
ments along the newly opened up rapid
transit lines north of the city, in the drec-
ton which the advancement of the city has
shown a decided tendency to follow, is
sure of splendid returns.
Outside of the District the opportunity
is not regarded as advantageous. The Dis
trict has good laws, a good government and
has Congress to make the necessary APP
preparations for improvements in the shape
of the extension of streets and avenues
So the trend Of experienced opinion is that
there will be a substantial demand for va
cant property along the rapid-transit sub
urban lines, as the country they traverse
is bound, within twenty years So to
be part, and an integral part, of the
rapidly growing city of Washington.
The foregoing is the result of careful and
discriminating conversation with the most
conservative and reliable real estate agents
of the District, and is believed to be we'll
worthy of serious and deliberate consider
alton the part of investors and home
seekers alike.
Plans for q New Dairy.
Architect H. A. Campbell has prepared
attractive and artistic plans for structure
to be erected for l.. L. TSreuninger, at 80
18th street northwest. at a cost of 500, 900
and dairy lunch room. The entire front
will be of white stone Ornamented by bal
comics and carving, and there will be
heavy projecting cornice 1t will be three
stories, with half attic above. The front
will be % feet and the total depth 1916 feet.
The dining room portion. which will occupy
the front on the first floor will have a
mosaic flooring, Tennessee marble waiscot-
iEg, and above this, extending almost to
the ceiling, will be plate glass mirrors, COW
ering the entire walls The ceiling will be
of metal of specially designed panels The
side walls and floor of the kitchen will be
tiled and fitted up with all the most recent
culinary appliances. The dairy portion will
be similarly tiled and equipped with all
the improvements of a sanitary nature and
the latest dairy devices. The building will
be heated by hot water. Wherever there is
any wooden trimming it will be of oak.
The dining room will be lit by incandescent
lights arranged on and around the ceiling.
The two upper stories will be devoted to
fats of seven rooms and a bath each.
Mr.. Campbell has also prepared plans for
residence and stable to be erected by Mr..
James G. Hoover. at TOO 4th street north
east. The dwelling will be 10 by GO feet.
and the stable 10 by %. The former will
be constructed of notified Roman brick.
with Hummellstown brown stone trim
mings. The interior willie be finished in oak
on the first floor, and will contain all the
latest Improvements. The cost will be
about 5000.
Permits to RoHd.
The usual house imppevings animation
that usually characterizes this season Of
the year is evident at Building Inspector
Brady's office. Scores of permits are being
applied for and issued for various improve
ments ranging from a few. dollars in cost
to several hundred
The permits issued for new construction
during the week are more than were ex-
pected. considering the increased cost Of
building material and the advanced time
of the year.
Appleton P. Clark. jr.. has planned and
Arthur Cowsill will construct for Mrs. VIM.
M. Somerville a handsome press brick and
terra Gotta residence at Ne. 2O24 Columbia
road. Wyoming terrace. The cost will be
$50 1t will have frontage of n feet
and depth Of SO feet, aud will be three
stories high above a BASEMENT. All the
walls will be thirteen inches thick. It will
be heated by hot water.
Mrs. B. 8. Robinson was granted a permit
to build two-story stone and stucco dwell
ing at No 1901 Milwaukee street, Oak View
to cost 5000. The architects are Sherman
& Sonnerman. and q. c. Kellogg will build
it. Blue gneiss stone will be mainly used
The main building will be 81 feet front by
"a feet deep. and there will be q two-story
back building. II By g. Hot air will be