The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-01-04
REVIEW or GENERAL CONDITIONS
By ASSESSOR JEFFERSON.
indianapolis Realty Increasing In
value and Always N Good Invest
ment-Statistics.


In this month slS,6s2. $3.50 are the figures of
the total amount of mortgages, but this
month included in its table the mortgage
of the Cincinnati, Indiana & Western Rail-
road of ss.5OOOoo and the 100000 bond
mortgage of the indianapolis Terminal and
Traction Company.
April, 1902 was tfre month in which the
greatest amount. of business was done in
the reaI-estate market, and during that
month sales were recorded amounting to
sl,517. 1853 No other month within the
three years. 1900. 1901 and 1902. showed such
a volume Of business. with the exception
of August. 1901. when s1,559 2s3.72 worth
of property was sold. Every month of
the year showed the sale of property val
ued at more than million dollars, with
the exception OF June. August and Decem-
Der. each of which, with the exception of
August, when ss1l,056.1l was transferred,
were very close to a million dollars.
During the month of December busir ess
was active and many sales We're recorded.
Dec. "A. with transfers amounting to &c.,
4sl.30. and Dec. 81 with $6S, 1855. were the
two busiest days of the month. Dec. "a is
always a big day for the abstracters of
titles and on that day in 1901 property val
ueQ dL lVf1z.oJ cndnSeO ndnu5-
BUSINESS OF THE WEEK.
During theelast week the business was
active during the first three days, but Fri
day and Saturday were each dull days One
hundred and seven transfers, with a total
Of s260.15515. were recorded. Yesterday
there were only fourteen transfers. amount
ing to $146s1. and of this sum 1855 was of
farm land transferred by the Indianapolis
Tn Lot 10
h. Kinney. This property was acquired
Friday by the indianapolis Investment
Indications point to an increase in BUSH
ness from now on. The holiday season Is
over and the real-estate agents anticipate
an increase in the number of home hunters.
The winter has been surprise to many
men familiar with the market in that, con-
trary TO precedents of other years, il has
shown few signs of inactivity, The agents
think that the coming year will be great
one for their business and are laying plans.
for much trade. sts.f 49, .s4,.s. f. ..lrs
An authority on Indianapolis and Marion
county realty value is Michael Jefferson,
township assessor. Mr.. Jefferson is enthu-
siastic over the prospects for the coming
year and his best advice TO purchasers of
ground"
''The best investment for money in In
dlanapolis now Is In real estate" said
discussing the condition of the real-estate
market for the past year and its prospects
for 1903. People who were year ago put
ting money that they wanted to save, and
wanted IL TO earn something for them also,
were uncertain where to place it. Mining
schemes and stock propositions secured the
money and much of IL was deposited IN
good, sound institutions and loaned 10 indi-
viduals for the interest IL would bring. The
majority of men had an idea that such in
vestments would be of greater earning
power and much safer and more easily Sc
cured If needed than if they placed il in the
old way OF investing in realty. Many of
they wasted years time and found per-
haps that they had not any more II as
much money as they had when they started
not knowing where their money was.
EARNED GOOD PROFIT.
''These men should have bought real es-
: tate. They are buying IL now and are
paying higher prices for it than they would
have paid a year ago. Real estate in In
dianapolis has earned a good profit during
the year. Taxes and improvements have
been kept up on most property, and still
there has been an increase in valuation. as
well as an increase in capital. Men who
anticipated the growth of the city and
bought some of the land that has as long as
4 can remember been known as commons"
land are glad that they did so. Their
money has increased Some of the land
has increased in value until now it is
very valuable. Some of these tracts have
One Of such is the South Park Company 5
property on South East street The old
Weghorst place down there did not look
much like residence portion OF the city
short time ago, but go down there now
and see what you have. Beautiful little
cottages on pretty streets: Modern i'm
prc1ements, heat, water and electric light
Ing. and everything in the plade absolutely
new. Nothing of the old style of archi-
lecture and all of the cottages as homelike
sd the as shs ar nd
made money for it's owners. The property
eoid readily and the houses were erected.
Some of the capital is tied up probably.
but eventually IL will all be secured again,
ana while waiting for Ii the owner is
drawing good interest on his investment,
and he knows for certainty that it is as
Look at Month Meridian street and other
streets running north from the city Above
Thirteenth street on Meridian the property
Is worth 400 per cent. more than il was
Tour years ago. 1t will some day not far
distant be the finest residence district OF
the city. 1t is the logical location for a
man TO put up nice house. He can get
pack ard forth from the city with CON
venience and lives far enough from the
business center to not be bothered by its
rusn- Country homes will be built farther
out. but along in that district the ground
has become so valuable that those large
iots-they are more than two hundred feet
wide-are nigh priced now.
SUBURBAN GROWTH
''The East Side and the West Side have
rot been behind in growing during the wear
All OF that land around Mount Jackson
has been plated and built UP. How MANY
citizens OF this city who lived here ter
years ago would guess they were in In.
dianapolis IL they drove in over the Ma
tional read from the west and began te
see Indianapolis when they got to Eagle
creek? There are houses out that far. blu,
In
center of the city and this side of tn.
Insane Hospital Streets have been cut
through from Washington street north ane
between that district and Haughville there
are ten houses where there used to be one
There used TO be a time, and il is no
SO long ago. when indianapolis was bull
up 10 State street out East Washington
and 10 30 10 the Deaf and Dumb Insti
tute was long journey through vacan
laE,L Now when man goes TO the bal
kaDie IN the summer he sees houses. a.
lar as he goes and If he were 10 continu,
on out 10 lrvington he would understand
why that suburb and Tuxedo were an
ne2ed 10 the city. North from Wasbing
ton street the growth has been marked
and as L said about the South Park Dron
cry ~ mas peen built up by fine new house.
as an evidence OF prosperity.
another value that has increased IN
tns slty the nat property. Flats ane
apartment houses are good inyesf,nen
They cost much money TO build hut ~,
pay Tor themselves and always will sta NJ
as modern houses. There are more naoni,
living IN mats now than ever before an,
most or them are not the winter boider,
OF suites and apartments bur persons yrh,
VIII stay In the fist the year through B,,si