Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-12-02
REAL ESTATE GOSSIP
The Income Producing Quality of
Property an Important Factor.
EXPANSION OF BUSINESS INTERESTS
improvements Which Are in Prog
ress in Various Sections.
MATTERS OF TERE ST

Inc growing importance OF lllt buSiHcSS
interests of the city is illustrated in an in
teresting fashion by the plans as an
nounced of the financial company. which. it
is understood, will soon be started here.
1t Is intended to make provision on
rather extensive scale for the storage of
heavy goods and merchandise, which are
brought to this city by local dealers in
wholesale quantities, with the object Of
disposng either at retail themselves or to
retailers. 1t is not only articles of mer-
chandise, generally understood, which
are thus to be provided for, but also build
ing materials of different kinds.
In other words, it would appear that
what may be termed the wholesale bust
ness of the city is expanding, and that
more and more the local dealers are buying
in quantities. in order to meet the needs of
the market. The addition 10 the business
of the city of what is recognized as d mod
ern warehouse system, with its receipts, is
IN itself an indication Of growth
Volume OF business.
For some years past the development of
the retail trade of the city, as shown by
the expansion Of the large establishments
and the increasing number of smaller ones
| and the subdivision Of trade into various
| lines, has pointed to the Increasing volume
| of business. Arrangements Will also be
! IIidi!t 70 mona GOODS IN bona, Wfllcn would
| tend to assist merchants who
large importers.
| 1t is significant of the state Of the local
| financial market that the statement is
! made that probably the whole of the pro-
| posed capitalization of the new company.
which is to be 81 loo 000 will probably be
| taken without any of the stock being Of
| fered at public SUbScriptiOn A few wears
| ago It would have been thought a great
| undertaking to attempt to place such a
| large amount OF stock exclusively on the
| nome market but such have been the
| changes that now ii is looked upon as
| quite feasible. In fact. there are local cor
| porations with capital quite as large, all of
| which was taken in this city.
Ineomr-Paying Property
| One Of the features of the city which
| seems TO make an impression on those who
| have been away for some time or who
| have not kept track of local changes are
! the improvements which have been made
/ in the business sections of the city, and the
! increased facilities as shown by the en-
| larged or new buildings devoted to trade
! 1 ne query from such people very often is
| where does the business come from that
| Justlfes so many business places and their
maintenance on such elaborate scale
| The mere fact that such improvements
| nave been made is a sufficient reason for
| believing that there is need for them and
also mat the property owners as well as
| inc proprietorS find a satisfactory profit
Certainly there has been no boom for the
| last five or six years. The fact is the town
{ Is only beginning to recover from the ef-
! 1octs or the financial depression of the past
| lew years, and landlords as well as fem
| ants IN the business sections of the city are
! just beginning to feel the influence How
! ever the improvements which have been
| made In property of this kind, and those
| That are in progress, prove that conditions
| have improved and that business ia bet
! ter. 1t is thought by some that prevailing
| prices for property in the section referred
! to are excessive, but 1t is stated that values
! especially when sales are made. are based
entirely upon the income producing ability
OF the property, and not upon any opinion
| or WRat 1t VIII be worth next year, or some
| ether year. In other words, the speculative
| element. it is contended, does not enter into
| the valuation of such investments.
| New Apartment House.
handsome addition TO the list of apart
ment houses in the city has just been COM
| pleted by Mr.. J. Maury Dove. The new
| structure is located at the northwest COR
| ner OF 10Th and G streets northwest 1t is
! pleasing design and the architectural
| lines are harmonious, while the combina-
! ton OF brown stone and brick make the
| exterior walls effective color scheme
| The building is four stories in height with
| a frontage on 18th street of fifty feet and
| on q street of III feet. The main entrance
| is from 18th street, and there is an elevator
which gives easy access to the suites on
| the different floors. There are twenty
| suites, divided into four, five and six rooms
| each, without counting the bath room
| Each apartment has kitchen with a gas
! range and throughout the building, which
| Is heated by steam, there are gas and cleo
| trio fixtures. There is an independent
| boiler in the building for the purpose of
supplying such of the apartments with hot
| water where the ranges in the kitchen are
| not used.
pennsylvania Avenue improvements
The owner Of considerable frontage of
| business property on the north side of
pennsylvania avenue west of 9th street has
! had plans submitted for inspection for a
proposed building to cover the entire front
age. There Is no intention at present of
| going on with the building, as the sketch
| plans were prepared with the purpose only
| of showing the owner how the property
| could be improved The building as de-
| signed Is six stories in height, and the idea
| OF the designer was to supply a structure
that would be suitable for use as a depart-
| ment store. While there is no prospect
! that this improvement will be made very
| soon, yet the incident shows that the
| progress of replacing with modern build
| ings some of the old-fashioned structures
| that now line the avenue is making head
| way and is likely as the demands of bust
| ness grow more pressing to become still
| more pronounced.