The times., 1899-07-16
SMALL HOME INVESTMENTS.
The Situation as Affected by Rapid
Transit Facilities.

A review OF the past week In the realty
market shows the extreme duilness charac-
teristie of the season. Brokers report that
the city. and that 1t is impossible TO close
deals, no matter how near completion they
may be. No sales OF importance have
been made during the week, and few
building operations begun. There is no
disposition to draw pesslmistic conclusions
from this midsummer inactivity. however
The same condition OF affairs exists In
the local stock market to a marked degree
and In general business. The New York
stock market Is equally affected by the in
disposition of people to do business in
not weather. Statements are made all
up and down F Street that the number
OF recent enquiries for realty investments
s'es the best kind Of promise for ac-
tivi,y in the early autumn Several nearly
completed sales OF Importance may be an
nouheed at any time. and the number OF
people wishing TO buy moderate priced
MONIES Is very large.
The reduction OF the fares on all ,hs
street railway lines from suburban points
70 the business portion OF the city ia one
Oh tne most important factors IN the realty
market. The general introduction Of rapId
transit mas been matter OF comment here
eo,ore. put IL rs Probable that cheap transit
VIII prove to be quite as beneficial 10 tbs
suburbs Every attractive suhurh ON ,he
traction lines may now be reached quickly
one-haE = anu
me actual Importance OF this enterprisa
on the part of the RAILWAYS NAV he re-
dnced to figures after fashion. and the
results are most interesting. house that
aen.s ior twenty dollars to thirty dollars
a, nonth-the dwelling of the average
washington resident-has at least two
dollars and forty cents cut of its rent
when Its renter can reach his place Of
business Tor one fare less a day II there
are Two or more members of his family
tnat use the street railways the saving Is
reduced proportionately The matter is
even more worthy of notice from the roint
OF view of the home builder or purchaser.
A typical case may be cited: A clerk in
the Treasury Department receiving twelve
hundred dollars a year has decided to buy
a nome in one OF the northwestern SUI
Durbs- zone of the brokers offers 20 build
MIN mouse Tor two thousand eight hun
dred dollars. the cash payment to be three
hundred dollars and the balance in monthly
instalments of thirty dollars, with interest.
The payments will occupy seven years.
During the time of the negotiations be-
tween the broker and the prospective buyer
the one-fare system has been introduced
TO this suburb 1t is entirely fair to take
out OF the cost of the house the saving
thus made possible during the seven years
in which the house is to be paid for This.
for the two working members of the family.
will be three hundred and fifty dollars, or
more than ten per cent Of the entire cost
OF the home.
The saving Of time in the rapid transit
is also such an important item that many
suburbs are brought within the possible
distance to intending home purchasers.
which directly adds TO the nrmber Of pos
sible suburban residents. The convenience
and comfort as compared with old modes
of transportation and entire lack OF them
must OF course. be given large place
in any estimate OF the probable suburban
developments in the near future.
The reports of the banks and trust COM
panies are that the plethora of money is
rather increasing than growing less every
week One prominent bank officer made
the statement to a reporter for The Times
yesterday that his bank has now a deposit
half a million dollars more than at any
previous time in its history. He stated
that much OF this money heretofore has
been out on loans at five and six per cent.
which have now been Cancelled owing 20
the ability OF the borrowers to obtain les
ser rates of interest. II is noticeable also
that the number OF brokers offering money
at three and one-half 10 four per cent is
greater every week, another very clear in
dication that the glut of unemployed capital
is not any less. The beneficial influence
that this dearth OF profitable investments
In other directions will have on real es-
tate cannot be overestimated.