The times., 1899-07-11
LOCAL INVESTMENTS.
WashinStoninns Who Expect m.
Active Real Estate Market.

NashtuStonfans Who Expect al.
Active Real Estate Market.
Business men of the highest standing IN
Washington. the most conservative. sue
cessful. and substantial, the psopie that
have had most to do with the city's finan-
cial growth. are unanimous in their eN-
pressions of belief that the coming autumn
and the coming year viii see a steady ad-
vance In prices and a steadily Increasing
activity in real property.
1t Is stated that there Ia already a be-
ginning OF this improvement. The nam
Der of sales OF real estate and their va us
during the six months ending June 80 were
wen in excess Of the record for the same
period OF last year. The number OF vacant
residences and business properties at the
/ present time IS very much less than dur
iHs July, 1895 Ii is estimated that the
number OF idle buildings has been REDUCED
eui4Hs tne year at least 50 pr cent Bet
yer perhaps than these facts. rs an indica-
eiOA OF the Improvement that is to come
are the great number OF eunuiries for res
ieehce ana business prope:tf Ieuorted by
! the brokers' II is apparent thar both can
Itailsts with surplus idle money ami peo-
pie OF more moderate means seekinz
| homes and modest business ventures are
, looking carefully over the field with the
/ intention OF making investments Chailes
J. Bell, President OF the American secur-
ity and Trust Company. who is peculiarly
well situated to express an Cd MON on III.
outlook for real property. said to a re-
porter for The Times yesterday. "The
improvement has begun in a very real ard
substantial way The number of vacant
buildings in the city is growing less every
day. The records of my own company
show this unmistakabIy. The number OF
safes OF real estate is growing constantly.
even during the summer months The
NUMBER OF enquiries from people with
money TO invest is most encouraging
These facts make it certain thar ths
autumn season will be an active one In
| my opinion there can be no doubt that the
| District Is entering on an era OF great AMI
iasting prosperity. To doubt the fact ons
must express the belief that the eountrv
Is on the wrong tack. on the down grade.
instead OF reviying rapidly from a perioi
Oh oppression Washington is, in peculiar
and very thorough way. a reflex of the
country at large in its business depres-
sions and reviyals
The largest enquiry at present is for
business property in the downtown dis
| tlet, ana this Is most hopeful sign for
| general Improvement Next to bI-inass
properly the greatest demand is for i'm
proved suburban property in the sections
tnat recently have been connected with
/ town by rapid transit. But IL cannot ha
| oouoted that city residence localities viii
! soon begin TO witness the same reviv,t :.
The head Of one OF the oldest hanks I,
the city, one of the most conservative
business men, said along the same line.
me unsettled condition of the New York
security market and the likelihood thai
| this may continue for some time. win tend
70 70 urn ,il investors attention to real estate,
E, as hkeiy TO be a safer investment The
| FINANCIAL Chronicle in statistical ar
| tlcle on the new Industrial corDorarfons
gives their total OF capitalization at the
remarkable hsure of three thousand mil
lion dollars. Such a showing as this can
not but have its effect in unsettIin~ tho
market Tor such securities. In nv opinjo,
! the advance in real estate prices in the
au'uHn Is certain to come. Suburban
property will advance In value ~, areo,,r.
OF the new rapid transit to many localities.
downtown property has decreased in yaIua
much more than it should in recent wears
| anu VIII reflect the return of prosnarit,
/ IN hlgher prices Another fact that IS csr-
tain TO have its influence is the advanca1
cost of building materials 1t is inDos-
sipie now TO duplicate residences or other
I ago. 'As
! Senator Stewart who is largo resI
I estate owner in the District, said: Wash
instoh mas seen many years of depression
| with the remainder of the country and the
tide has turned in the other direction
Real estate values will continue to i'm
| prove m
Albion X Paris. of the banking house OF
! crane & Paris, said: Money is on 4
| per cent basis. and local and outside
securities are selling on a 2 1-2 and 4 pe-
| cent basis Real estate must be the next
| investment for the immense amount of
I idle money in the banks and trust com
] pahies- Real property values will Increase
durlng the coming year. l do not believe
that rents viii. because rentals are GOV
erhed TO large extent BY the cheapness
OF money. necessarily. Investors win he
wiling to build and buy residences thar
VIII net per cent. Perhaps this will lie
an excellent thing for the real prosperity
OF the city"