The Washington times., 1902-08-31
Many Brokers Return
Home From Their Sum-
mer Vacation,
NEED FOR BUSINESS HOUSES
People of Wealth Being Attracted to
This City-Many Prominent Men
Make Washington Their Permanent
Residence.

The real estate brokers, who have
been enjoying a vacation, are beginning
TO return TO town for the fall season,
which is expected to prove a record
breaker. They arrive in time to find
their clerks busy making changes in
the bulletin of houses to rent.
Up to the present, however, there
has not been a big demand for those
seeking to invest in Washington realty,
although it is rather early as yet for
business. Nevertheless some of the
brokers are selling houses, although as
a rule the dealings have been in small
properties.
As in past seasons. there is bound to
be trading in business properties. for
there is always a demand for such
realty, providing it can be secured at
reasonable price. The indications are
also that suburban property will be
given 2 call during the fall. for people
are beginning to realize that the great
er Washington is thing of no distant
future.
Buy Suburban Homes.
During the past few years prominent
business men of the city have pur-
chased homes on the outskirts, instead
of summer residences. as in the past.
Mr.. Louis P. Shoemaker, who owns
considerable property about Bright
wood, Takoma, and Tenleytown, is of
the belief that much outside capital will
be invested here within the next few
years. Ten years or so ago, he said.
AF
to Washington to live either rented
their homes or purchased residences for
occupancy during their stay here. Now,
4 however, he said, they come here not
only to live, but to invest their money.
This has done much TO build up the
city, and has helped the small investor
People are beginning 10 know that
the price OF realty here is likely to go
up, and not so much attention is paid
TO these so-called 'booms,' " he said
Those wEo invest in property here
know from their own experience that
while no boom is on, so to speak, the
market is entirely satisfactory and lots
on F. G, and Fourteenth Streets and
New York and Pennsylvania Avenues
sell for more than they would have
brought in 1890.
Not long ago fifty acres of ground
at the intersection of Connecticut Ave
nue. and Pierce Mill Road were sold to
men who began at once to spend per-
haps 100000 in improving It. excIu-
siye of the cost of buildings Some
land near Brightwood. sold as acreagl
property at s1,500 per acre. has been
subdivided and is now selling for 90 or
% cents square foot.
Conservative Increase.
Il might go on citing instances. but
these are enough to show that capital
lists feel abundantly justified in max
ing investments in the District al
though property here is not now on
any boom. but conservatively increas-
ing in value.
Speculative and more rapid advance
ment in values will now be found to
exist in the new or greater Washing
ton beyond the city limits. The reason
for this is well understood. For public
and private improvements have been
made in the old city and values in
downtown and desirable business sec
tions have been inluenced to their ut
most extent.
Whereas public and private improve
ments are jusI being made il the new
Washington. and this development is
causing. and it will continue to cause
great increase IN NaiueS.
These who have desirable propertie;
here are extending their advertising TO
newspapers of other cities. and this has
tended TO attract to this city people
with money who know what bargains
are. During the past few years any
number of prominent men from the
East and from the West as we'll as
from the North and South. have come u
Washington. built homes here and now
H. ,fT-
dence place. Scores or more might be
mentioned, but among the most promi
rent are Mr. Thomas f. Walsh, Mr.
Thomas Nelson Page, ex-senator John
B. Henderson. of Missouri; Gr. b. II.
Warder, of Ohio; Mr.. w. p. Kellogg, Of
Louisiana; Judge ]. NJ. Wilson. q law
yer or national reputation. of Indiana.
Mr. c. J. Hillyer, of California; Mr..
Periah wilkins of Ohio: Mrs. Patton,
of California; Mr. Letter, Judge Board
man. Gen. Arson Mills, Mr.. Patterson.
Mrs. Childs. Mr. Page, Mr.. James Ell
yerson. Chief Justice Fuller. Justice
Brewer. Justice Brown. and Justice
Harlan. Of the Supreme Court Senator
Mcmillan. Senator William A. Clark.
Senator Sawyer, Senator Elkins, ami
many members of Congress, and Secre-
tary Hay
New University Home.
Work is progressing on the new home
OF the National University under con-
struction on X Street, near Sixth Street
northwest. which is 10 cost about $50. 900.
Ii will be built OF brick and stone. ami
the plans provide for medical dlspen-
sary. three lecture and clinical halls
and other recitation and study rooms
for the medical and dental branches Of
the institution.
The American Ice Company Is having
plans drawn for a large artificial ice