Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-02-11
REAL ESTATE GOSSIP
What is Observed to Be a Tendency
in the Market.
SITES FOR PUBLIC BUILDINGS
Probable Solution of the Suburban
Street Railroad Problem.
RECENT TRANSACTIONS

The tendency of capital to seek invest
ment in real estate has been noted in The
Star as one of the features of the market
at the present time 1t is true this ten
dency is not 50 pronounced as most dealers
would like it to be- and, in tine opinion of
some the disposition to invest is not so
general as they had hoped would be the
case with the revival of business. which
seems to have made at least a hopeful
start.
Auctfoneers. however. observe that the
prices obtained for property when offered
at public sale are based upon what is
known as its income-producing power,
rather than upon speculative values. When
it is known what property will rent for
then it seems that investors are able to
determine what it will be worth to
them. and in this way they get a basis
upon which TO make bid.
4 Recent Transaction.
An interesting transaction recently was
the purchase at private sale of the oxford
Hotel property. at the northwest corner of
New York avenue and 18th street. extend
ing along the latter street to II street, with
a frontage on the latter thoroughfare.
II was purchased from Mr.. Theodore ].
Mayer by Mr., Thomas F, Walsh, through
Dane mower ana w 4CkeISndII. TGdl estate
brokers. and the price paid was Sl25,on0.
1t is stated that the income amounts to
about per cent gross on the purchase
price. The new owner recently located
permanently in this city. having purchased
Il handsome home on Connecticut Avenue
Heights.
Suburban Railroad Problem.
The relation between street railroads and
property values has frequently been point
ed out in this column. and therefore it is
not surprising that those who are interest
ed in this class of investment have noted
with satisfaction the recent series - pur-
chases Of suburban lines Of railroad. 1t is
believed these properties have fallen into
strong hands, and that the announced pur-
pose 20 weld the various lines into one har-
mOuicus system having direct connection
with the center of the city and 10 equip
them with modern appliances is likely to
be carried out.
This change in the ownership of these
roads Is looked upon as the solution Of the
problem Of the suburban roads. They were
built Tor the purpose of meeting the de-
maGd for facilities of communication be-
tween the city and the outlying sections OF
the country. During the past ten years the
Development Of the city has been such that
the population has passed beyond the ur
ban limits and occupied = large area of
country.
Expansion of the City.
Previous to this time the growth of the
suburban population was largely confined
to the region along the lines of the steam
railroads. But the demand for additional
building sites led t. the opening of new re-
gions and the building Of railroads natural
y followed. The prospects Of business for
such roads were mainly in the future and
they had no city connections the IA
irons were obliged to pay two fares. and in
some cases three fares, well as being
subjected 10 me Inconvenience of changing
cars
The system of transfers worked disas-
troUsiy for these roads, as il resulted in
the division of half their business with the.
prosperous city roads. 1t can be said that
without single exception, none of these
roads ever paid cent of dividends to the
stockholders. and in only a few instances
were they able to fully meet their operat-
ing expenses. much less the fixed charges.
projectors.
= New Fra Promised.
If the plans Of the new owners are carried
out the entire situation will be changed.
The railroad service in the suburbs will be
Improved. not only as to the equipment of
the roads. but to the schedule. and the
one-fare rule from any point in the dis
trict to the city will be carried out.
1t is expected there will be continuous
service on most of the roads and, with
rapid transit. people who live six or seven
lAlLASS ALoitt TIE tENltEF the city VIII be
near IN point OF time as those who in the
horse car days lived at the extreme limits
OF the city Rapid transit has revolution
lied the street railroad service in This city,
and. as II IS 10 be extended to the SUBJ
urban roads, backed by large capital Ii
Seems that the outlook for the future in the
material development of the city is a prom
Using one.
DIR. III. ID. Fry's Residence.
Work will be commenced at once for the
erection Of a residence at the northeast
corner Of Connecticut avenue and Q street
northwest for DR.. Henry D. Fry.
The lot on which the building will be
erected has frontage on Connecticut ave.
nue. OF % feet and on q street of 60 feet {
inches and depth of AZ feet. The build.
Ing will be five stories In height, including
the basement, and will occupy the entire
lot The private entrance for the resident
part OF the house win be on Connecticut
avenue and the office entrance from the
central portion Of the Q street front
A handsome porte cochere win ornament