Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-03-10
TAX sALE.,Is NOW ON
Ten Thousand Pieces Of Prop
erty a. Arrears.
REGULARS" ARE HERE
BIDDERS ARE REQUIRED TO
MAKE BLANKET DEPOSITS.
Bidding Today Undressing as a
Rule Because Of Restrictions Of
the New Law.
REGULARS" ARE HERE

| Inc Teu nag planted IN ITOut oI the LIS
trict building today denoted the beginning
| Of the annual tax sale. At 10 o'clock sharl
in the office OF the collector 10000 piece
| of property in arrears up to July 1 las
were put upon the market to be disposed
| Of to the highest bidder.
| The sale today was marked by the pres
ence Of the regulars who. of late years
have made practice of speculating in Dis
trict real estate. The two principal bidder.
came from out of the city. A third outsid
concern was also represented today, whil'
number of local purchasers were in thu
field.
The bidding was. undressing as rule
because of the new law, which require!
that the price bid for property must be pait
at once to the collector Of taxes.
| Heretofore there. has been much ''wilt
| cat" bidding. For instance, there would
be sharp rivalry between two bidders ovel
| a certain piece Of land which might be ad
vertised for $50. The bidders would rur
the amount up to as high as $1,000.
! OF course, they never expected to take
| out tax deed by paying that amount, ant
the matter was always nxed up prior to the
| time for redemption Owing to the new
| law requiring immediate settlement "wil6
eating" this year will be rather expensiv,
and will probably not be very popular.
Opened by Collector Davis
In the. book Of advertised property re.
Gently issued 10000 pieces of property were
offered. Since the time Of publication, how
ever. 1000 have been redeemed by the pay
rment Of the arrears.
The sale, which will continue until March
10, was opened by Mr.. E. G. Davis, the col
lector Of taxes, who later turned matters
over in entirety to Mr.. c. w. Collins, the
deputy collector.
Mr.. Davis informally addressed the pros
pectdve bidders. He called their attention
to the changes in the tax sale law made in
the act Of July /, 1902.
The principal change, he said, was the
clause providing that the amounts bid for
property must be paid at once into the
hands Of the collector. Heretofore the sur
plus over and above the amount in which
the property was actually in arrears has
been allowed to run over until the time
for the issuance Of the tax deed, two years
later. - e.
Blanket Deposits Required.
Mr. Davis suggested that, as the bidders
must settle at once for the property bought
by them, 1T was his Idea that they should
each make blanket deposit every morning
to cover their operations for the day.
AS a piece Of property was bid in it
would be charged against the deposit. This
suggestion met with approval, but as many
Of the bidders had come unprepared, the
sale was postponed for fifteen minutes
until certified checks, &C., could be OBJ
tanned and deposited.
Charles H. Wiltsie, one of the most ac-
tive Of the SPECTATORS, and the represent
alive Of a Rochester syndicate, deposited a
check for 5000 to cover his operations to-
day. J. w. Thompson representing the
Securities Company Of Middleburg. Pa,
another concern speeulating largely in tax.
sale property, also deposited 5000.
H. B. Siade of Rochester, N. Y, rep
resented by W.gH.oNanogue Of this city,
also made a heavy deposit, while among
the other bidders were w. NJ. Newman, W.
W. Edwards, ]. G. Slater, w. F. Holtz-
man and E. A. Mcintyre.
When the deposits had been made and
properly charged Mr.. Davis also called at
tention to a fact which, he said, he sup
posed the bidders were well acquainted
with. This was a change in the interest
rate allowed to purchasers Of property at
tax sales.
In the past the holders of real estate
bought at the tax sale have been allowed
IL per cent year when the property was
redeemed by the owner.
The new law reduces this rate to IL per
cent. Property bought at tax sale must
be redeemed within two years or the Com
missioners issue tax deed to the pur-
chaser.
The tax sale is progressing by city
squares. After the squares are exhausted
the county plats will be taken up The
first piece sold was in square /, advertised
for 1920. 1t was bid in for that amount
by c. H. Wiltsie.
The bidding was not entirely confined to
the amount OF the taxes in arrears. But in
stead Of boosting the price by hundreds of
dollars the operators confined their bids to
cents.