The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-10-11
while the Total Falls Below the Pre-
vious Week There Was an In
crease in sales.
DEALERS REPORT ACTIVITY
PEOPLE ARE PROSPEROUS AND MON
EY SEEKS INVESTMENT.
Two Hundred Lots i'm n New Addition
Sold Within Three Weeks
Transfers and PERMITS.

mortgages Tor the week. 1874. 400
6ulldlng permits for the week.. IS, 800
Mortgage releases for the week.. as, $50
Though hardly up to the mark set the
previous week in the amount of money rep
represented by the weeks transfers, the
real-estate market the past week has been
even more active than during the preceding
SIX days. In the amount of money repre-
sented this weeks transfers placed on rec
ord amount to about $4,000 less than the
transfers of last week, but this does not
show the real condition of things The
past week has recorded the closing of
much larger number OF real-estate deals
than did the previous week. The signifi-
canoe Of most OF the activity in real estate
Just now Is not in the amount of money
involved. for most of the transactions rep
resent an investment of between $1,000 and
5000 1t is the number of sales and pur-
chases that count now, and the number is
on the increase.
Real-estate brokers are all of one opin-
ion-that their business is good and that all
indications point to just good, if not a
better season than last year.
IN GOOD CONDITION.
The outlook is very bright said Boyd
NJ. Ralston yesterday afternoon. las has
and fall Indianapolis is in such a prosper
Gus condition that the reaI-estate market is
In excellent shape. There are plenty Of
sales of property involving amounts be-
tween $1,000 and 5000. with occasional
sale representing an investment of $4,000
and more, and the immense amount of in
curry shows that there is to be no tagging
In business. And there are plenty OF oppor-
tunities to sell downtown property, too, if
there was much OF this on the market but
most Of the good downtown property is held
at such high figures that it cannot be in
vested In to any advantage. 1t looks to me
the value OF Washington-street property
Just west OF Illinois street and just east of
Pennsyiyania street before there is much
or an advance on that between Pennsylva-
MIA and Illinois Streets.
Fred A Gregory announced yesterday aft
srnoon tnat every one OF the two hundred
between Central and College avenues north
OF FAN creek, has been sold. There are two
hundred lots in the addition, and they were
sold at an average price of $500. The dis
posal Of the lots was in charge OF Mr.. Greg
DRY and Charles Lewis, president OF the
Northern Investment Company. This is
likely to be very popular addition, and,
though no houses will be put up there this
fall. IL Is said there will be good deal of
building next spring.
investment Company, which is composed OF
a number or well-known business men. Just
three weeks ago the lots were put on the
market. Nearly seventy lots were sold
each week. The selling of the 200 lots in
three weeks Is regarded in real estate cir
cles as splendid piece of work. The
addition lies between Central and College
avenues and extends from Thirtieth street
nearly to Thirty-second. No improvements
+ VIII be made on the addition until they are
petitioned for by the property owners. This
manner Of ordering improvements has beer
decided upon In order that the improve
ments will not come as a hardship TO the
property owners. They will thus have plenty
or time TO pay for their lots before they
have TO spend any money for streets anC
other improvements Most OF the lots wer,
tority of the lots will be worth more money
than the price at which they have beer
sold by the Northern Investment Company
IS evidenced by the fact that one lot OF
Central avenue has already been disposed
OF by the original purchaser for 500 NOR,
than he paid for 1t.
RESIDENCE PROPERTY.
Edgar II. Evans, of the Hoosier Stat.
flour mills. has purchased the residenc,
property at 1902 North Delaware stree
from Martha A. Stewart. of the DAME
Stewart Drug Company, for $500 Mr.
Evans will remodel the residence TO tn.
extent Of about 5000. The transaction wa
handled by Gregory & Appel.
Merchants National Bank has had a dea
on for the purchase Of the property occupie,
by the Kahn Tailoring Company, but OFT,
N Frenzel, president of the Merchants
Bank, says there Is absolutely no founda
ton for this report and that the Merchants
Bank is not trying to buy the Kahn prop
erty or any other property The repor
was given more or less credence in real es
tate circles as the Merchants Bank viii
have to vacate the property at Meridian an,
Washington streets within the next year O
year and q half.
An East Market-street broker said yester
day that an effort has been made lately by
syndicate or business men TO buy the prop
erty owned and occupied by the KAN
Tailoring Company and two or three OF tn
buildings just west of this one for the sit
Of new Office building block. But whel
the owner was approached ana asked to Sc
q price on the property he announced tina
the property Is not for sale and would Sc
no price on It,
BUILDING OPERATIONS.