Evening star., 1899-07-08
REAL ESTATE GOSSIP
What is Being Done With Money
Available for Investment.
S0MB OF THE CURRENT IMPROVEMENTS
Expanding Area Occupied by the
Population Of the City.
OF BUILDINGS S

The bank statements which have just
been made public only confirm what has
been well known-that there is an abun-
dance of money supposedly awaiting a ia
vorable opportunity for investment. The
conditions this year, locally, differ some
what from those of previous years for the
reason that. in addition to the improved
state of business, the extensive purchases
Of railroad and other corporate properties
in the District have set an unusual amount
Of money free.
A large number of the local corporations
paid their quarterly or semi-annual divi-
dends the first of the month, and the same
is true generally of the entire list of securi-
ties. Those who are interested in real es
gate. and who are aware Of the present
conditions, are confident that the bulk of
the money thus awaiting channel of in
vestment will ultimately be placed in real
ty.
Inyestnaents in Realty.
1t is claimed that the tide in this direction
has already turned, and the demand for
property that pays an income is now brisk
and the market in this particular is a live
~ one. 1t is said there is little property
in the business section of the city that can
be bought for what are looked upon as low
igures, and even at what some call rea-
5onable figures. The stiffening in prices is
aid to be one of the noticeable features
If the market. The prices which prevailed
even year ago are no longer quoted by
he owners of property. The same tenden-
~ is noticed in the sales of property at
auction. 1t Is said there is no difficulty
n finding a market for property offered in
his way and that the prices obtained are
,ased on the ability of the property to earn
! fair return upon the money. The specu-
2tiVe era has not yet set in, and the
emand for purchases of this character is
lot marked.
Center Of Population.
The recent action of the citizens of Ia
coma Park, Nd, in voting to establish a
vater and sewer system for their town
5nly serves to emphasize the fact. which
5 proclaimed every side, that the city
Of Washington is no longer confined to the
area that hes within the old limit known
as Florida avenue. In fact, it might with
equal force be said that the confines of the
city are not even within the bounds of the
District For while Takoma Park is prin-
cipally in Maryland and the town govern
Eent is organized under Maryland laws,
the legislature of that state having given
the necessary authority for the issue of the
bonds for the payment for the proposed
work, yet to all intents and purposes the
toWn is a part of Washington and her
citizens are also citizens of Washington.
1t is one of the numerous towns in this
locality established by Washington people
Who. while doing business in the city. pre-
fer for one reason or another to live in
the country. AS the result of this suburb
aH habit. as it might be termed, the Dis
rict and the contiguous portions of Mary
and Virginia are dotted with settlements
forming a legitimate part of the popula-
jon of the District
Future Material Development.
The significant feature of this proposed
change from the methods of sewer and
water supply of a village to that of city
; that it shows in a substantial fashion
he growth and prosperity of Takoma
Fark, which is a sort of reflex of similar
conditions which prevail in this city
Washington as a center of a great and
ever expanding population is also recog-
niZed in the new system of street railroads
which has just been formed by the bringing
together under one management of city
roads and suburban roads with the an
counced purpose Of welding them into one
harmonious whole. This will tend to bring
The remote portions of the territory within
he influence of the city, closer to the CEN
ter of things, and will, it is thought, have
IN influence upon property and upon the
material Development of the city that is
hard to realize.
Mrs. M0rEan's Ball Room
A ball room is being added TO the spacious
home of Mrs. D. P. Morgan, on Scott circle
The design was made by sen of Mrs.
Morgan, who has recently begun the prac-
tice of the profession of architecture in
New York city. The new portion will be
two stories in height. and 2sx4o feet. The
ceiling will be domed and there will he
space for musicians at one end of the room
and a suitable entrance at the other The
decorations of the room will be in what is
known as the Louis XIV style. Access to
the new addition win be from the staircase
hall of the house.
Charles G. ThOrn's Residence.
handsome residence is to be buiIt for
Mr.. Charles G. Thorn on Baltimore street
between Columbia road and Goth street
On the same block Mr.. E. J. Stellwagen is
building a house for his own use. and in
a general way the new house will resemble
its neighbor.
The design of Mr.. Thorn's house, which
vas prepared by Taddy B. Wood. archi-
tect, presents simple yet effective COM
position of red brick and stone A high
reef with strong lines and covered with
slate will complete the two stories The
ample frontage of the house. which will he
fifty feet, will be treated plainly and Will
be a good example of what can be done
with brick and stone when brought into
harmonious relations
The interior arrangement will carry out
the spacious effect of the exterior On each
side of the entrance hall there will be a
room. and opening out from the entrance
hall will be the staircase hall. In addition
to the access to the parlor from the en-
trance hall, the former will also open into
the staircase hall. as will also the library
and the dining room. The latter will be q
fine room with windows opening on two
sides. 1t will be 30 by p feet, and will be
finished in hard wood, as will be the case
with the entire first floor. One of the fea-
lures of the room will be a large ingle-
nook. The pantry and back stairway, the
latter extending to the top Of the house.
are on the west side of the house.
The second floor will be divided into five
chambers opening out from central hall.
There will be two bath rooms on this floor
The third flood will be treated as an attic.
Hot water heat will be used.
Capt. McCOrmfck's Compliments.