The Washington times., 1901-12-22


in the realty world. The record il an
excellent ore, especially for the week be-
fore the holidays when the world is sup
posed to be devoting the greater part
of its time TO preparations for Christ
mas. There could hardly be a more con-
vincing proof of the statements Of many
of the most conservative brokers and real
estate owners in the District that the
market is active and that the outlook
is for a handsome revival during the
coming year.
The transaction involving She largest
amount of money is that by which Mr..
Stilson Hutchlns and Mr.. W. ]. Kehce
purchase the Mount Vernon Flats at the
corner of Ninth Street and New York
Avenue and the store ami ,ist building
just south of the Mount Vernon on Ninth
Street. The total price paid for the two
buildings was $4,000
An Apartment House Transaction.
They will be combined and run as one
apartment house. and viii form one OF
The largest in the city. 1t is said that the
comb, med rentals of the two are al present
about $4,000 year.
The transactions as recorded during the
past week do not reveal the real new
owners OF the property. The Mount Yer
nor Flats are decided by Barr & Sanner.
their builders and former owners TO W.
J. Dante for sl35. .0O0 The building souih h
OF the Mount Vernon is decided by Henry
NJ. Baker to Mr.. Dante for So, GOO. le-is
learned. however that Mr. Dante holds
the properties in trust for Mossrs.
EutchiDs and Kehoe. The transactions
have all beel arranged by Mr. Ben Brad
ford, the real estate broker.
business Property Changes Hnnds.
Stone & Fairfax have just completed
the transfer of valuable piece OF bust
ness property on Ninth Street near f,
the price obtained being s12 square foot.
which is considered very good price. es-
pecially as the improvements are not OF
an especially valuable nature. Anton Ed
erly sold to Mrs. Mary Hall the building
ei0 Ninth Street, between + and C Streets,
for $4,000. The lot is 20 feet front and
100 feet deep, making a total of 1000 feet.
The building will be remoaeled and oc-
cniied by Mrs. Hall for business pur-
poses. ss-T
A New Site for Foundry Church,
There is large probability that the
Foundry Methodist Episcopal Church AMI
real estate at the corner of and Thir-
teenth Streets will be exchanged for a
new site FOR the church at the northeast
corner CT r and Sixteenth Streets The
latter Property is owned by Mr.. T. e.
Roessle, the proprietor OF the Arlington
Hotel. and is unifnprored. Brokers rep
resenting both the Foundry Church and
MIR. Roessle have been negotiating. and
it is said that the deal is likely TO be
made.
1t is understood that the price of the
church property is placed al SIS square
foot. The property. including the pastors
residence. has frontage on Thirteenth
Street OF 113 feet and frontage on G
Street of lis feet, the total contents OF
the lot being l0,2s0 feet II will be seen
that at s25 foot the property would be
worth more than $3.50 000. The Sixteenth
Street lot is not held at nearly SO high a
figure. and the church Will receive cash
balance ii the deal is made that will make
il possible 10 erect a new church building
without any large amount of extra funds
VIII Make Extensive improvements
Mr.. Ben Bradford. the broker, has sold
to Messrs. Barr & Senner. the builders
a lot on ihe east side Of Ninth Street
between X and L Streets. having d 'front.'
age OF 105 feet and an average depth OF
l0T feet. for $50 900. The property is
partially improved, but il is understood
that Barr & Sanner intend to make i'm
portart additional improvements In the
near future.
deposit has been made and the trans |
action is practically completed for the |
sale Of one OF the handsomest residences
on Sixteenth Street, north of Scott Circle, |
TO capitalist from Northern city, who |
Will hereafter make his home in this city. |
The price paid by him for the property is |
$4,000. The deal has been made by Stone |
d Fairfax, the brokers'
Title Insurance Companies Crowded.
Another most convincing evidence Of the |
activity of the realty market is the great /
pressure of business reported by the real
estate title insurance companies. Two o:
the companies especially are unable TO
keep up with the rush of orders for title
examinations that has been overwhelming
them for several weeks. As result of
this increase OF business partially the Sc
curlties of the title companies have shown
recently. Officers OF the companies say
further that all the indications point TO 1
a continuance Of the activity in the busl-
ness. For a number OF years the COM
panies have had little to do, ana some Of
them have not been able to pay expenses.
The Real Estnie Exchange.
1t develops that while The real estate
exchange will begin its mission with a
very large membership and with high
hopes OF great success on the part of
many of its important members, there is
a firm belief in some quarters that the
plan Is not a good one and that IL cannot
succeed. One OF the oldest and most i'm
portant real estate firms in the District
and one OF the newer but most agrees
sive and successful firms have both re- ]
fused TO join the exchange and their rea-
sons are the same lack OF belief in its |
One OF the big trust com
panies has also expressed its intention
not 10 join the organization.
The benefits that viii come of the e1-
change If 1t is n success have been de-
tailed at some length in this column
They are large and important and they
are much needed. There can be no doubt
that commission rates are badly cut by
some brokers'. and In many cases, solely
for the purpose of obtaining IN advsn-
tage over other brokers' In the same
way The business OF loaning money has
become much less. remuneraiive Of recent
years because OF rate cutting, open and
concealed. No one disputes that the
-urbstone broker who pays no rent and
Employs no ONCE force is an Institution
10 be eliminated IL possible The pre-
Donderance of opinion is that Ihese things l
;an be accomplished. But some of the |
arguments Of the other side are inter-