The Washington times., 1901-11-24
Effect Of Legislation on
Local Values.
REVIVAL IN ACTIVITY ANTICIPATED.
Leading Brokers Say That Laws
to Be Enacted During the Coming
Session Win Cause Substantial
Increases in Prices Of Rea ty.

the District, but this year it will be of
more than the ordinary Importance.
There VIII be the usual influx of people
during the session. which will ill up the
vacant houses. There will be the usual
number of people who will come to WASH
ington temporarily to help along legisla-
tion, or seek for positions, and who will
ieeide to make the city their permanent
home. Besides the additional houses thus
occupied these people will also help real
estate, with business in general, by dis
tributing their money. This is the or
binary benefit derived from the presence
of the national legislators.
This year there will be several matters
of legislation that viii affect the District
property in direct and important way.
and real estate men express the opinion
that they are likely to do much to give
further impetus to the fine revival that is
Eow taking place in the market
Beneficial LegislntiOn.
The passing of law authorizing
union station for the Pennsylvania, Balti-
more and Ohio, and other railways, and
the building of the station and carrying
out CT the great railway improvements
proposed, will be of immense benefit to the
property along the various tracks of the
systems. Property N South Washington
abutting and on the same grade as the
Pennsylvania line and property in North
east Washington in the same disadvan-
tageous position along the Baltimore and
Ohio has always been hard to sell, and
Improbable to keep, except for few
business purposes. As residence property
it has been among the most undesirable
anywhere in the District. When the grade
crossings are abolished conditions viii be
greatly improved. and it is reasonable to
suppose that prices viii have an imme-
date upward tendency.
The entire suburban section north of
the city and east of Rock Creek will be
greatly benefited by legislation allowing
the introduction of electric light wires.
BY curious freak of legislation all OF
the northern suburbs are deprived of cleo
tric lights at present. Neither street nor
private lights can be given to the section,
while in every other direction the exten-
sion of the electric lighting system has
gone on rapidly, as it has become needed.
1t is supposed that a law will be passed
in the early part of the coming session
remedying the difficulty, which, as mat
ter of fact, Congress never intended to
create.
To Beautify the Mall.
The plan to beautify the Mall and con-
meet 1t with the Rock Creek Park will
also be Of great benefit to the Southern
and Western portions of the city, II 1t is
carried out. The street extension plans.
if Congress helps them along, will do
much for all the suburbs
All in all, the men that deal In real es-
tate are awaiting the opening of the
Congress with much inter-
est and pleasrE able expectation.
The Market Prosperous.
The real estate market is in most |
condition. AS yet this is hard |
ly realized, perhaps, but it is undoubtedly |
the fact. There has been a steady i'm
provement in the market during the past |
year and half or two years. 1t has come
and hes at no time approached /
10 boom. Compared with the dull times |
from 1854 TO 1889, business has quite dou-
bled in volume. Sales are frequent where
once there were almost none. Prices have
well Entire squares have been |
hlled with residences in the suburbs. |
Apartment houses and business buildings |
have increased in number more rapidly
han ever before. The outlook accord /
ng 20 conservative real estate men is for |
4 continuance of the good times, and |
even for a conspicuous improvement dur
ng the coming winter.
rbauxonI Ha-xo. n-;rx
The man that has not visited the yicin-
ity of North Capitol and First Streets be-
yond Florida Avenue since 1898 would
believe he was in another city il he were
blindfolded and carried into the section
new. 1t is estimated that thousand res
licences have been built in the past two or
three years. Forty or fifty long blocks of |
houses line concreted streets, where such
4 short time ago was a waste of hills and
sullies, and forsaken commons"
One OF the most extensive deals ever
in that section was this
week brought to close, whereby L.
speich and Thomas NJ. Haislip acquired,
through Joseph Paul. the entire frontage
m the east side of First Street northwest,
between and w, comprising seventeen
OTIS 19 by 100 feet each These gentlemen
expect to improve this ground at once by
he erection of seventeen three-story
houses of eleven rooms each Messrs.
speich and Haislip have completed a row
If nine houses on First Street, between
Rhode Island Avenue and u Street, and
III but two have been sold. During the |
,ast season they have built in this local
ty thirty houses, which have all been
iold
Capitol HiII's Boom.
CapitoI I'm bac evfan6ed ranidIv ond |
It the present time is undergoing some
hing very like boom. 1t is said that |
90 houses have been built on Capitol Hill
iuring the past year; and there is hardly
vacant house in the entire section at
resent. Some fifteen apartment houses
lave been erected in the same period. Mr.. |
Ohm p. Donahue is authority for the state
nent that more money has changed hands
n East Washington realty transactions
nrng the past twelve months than in the
ntire twelve years previous.
Two or three developments have helped
long the section. The Library of Con-
ress beauties the Hill wonderfully. and
has also given employment to a great
lumber of people, a large part of whom
eside in the vicinity. The navy yard, at
he other end CT East Washington, is en-
Toying more men than ever before, and
living them regular employment and good
Tages, and many Of them are buying
ONES.
Some Opinions.
B. H. Warner a: Co. say of the present
nd of the outlook of the market: "Busi-
ess has been improving steadily, and
ill be q most important one. Money
sA..1 4 .