The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1904-01-01
New Year Promises to De-
VeloP Great Activity in
Real Estate Operations
and the Construction OF
Buildings.
PLANS ALREADY MADE
FOR MANY ENTERPRISES
Outside Investors in Prop
erty Find Washington an
Inviting Field-Record OF
the Past Twelve Months

The year 1903 has been, on the whole,
a prosperous one for real estate brokers,
architects and builders. Toward the
latter portion of the year local and labor
conditions have exercised d somewhat
depressing influence on building opera
tons, but the aggregate makes most
gratifying exhibit. From figures fur
nished The Times by Snowden Ash
ford, Inspector OF Buildings, 1t appears
that building permits were issued as
follows: January, S4OS, 234; February,
$3iS,90O; March, s614.321; April, S692, 573;
May. S1.OS9. 395; June. 81, 167, 80; July,
Sl.9O4,S6S; August, S677,O1S; September,
SS45,1z5; October. S71S.399; November,
$GS1 SO7; December, S5.266.SO7 Including
I Union Station; total. S1S.9O9 "a. To this
must be added 100000 for work on Dis
/ trict buildings, such as schools and en-
/ CINE houses, thus giving Il grand total
OF $14.SOo. 727.
! In the three branches of business that
constitute the aggregate of real estate
/ and building transactions, the sentiment
as to the past year is one Of satisfac-
ton, and to the outlook for 1904 i'm
the main sanguine. In order TO present
a nearly accurate review and prognosis
of the situation. The Times presents the
views of one of the leading firms in
each of these branches.
Real Estate Market
Washington has made great strides
forward in 19O3,' said one of the mem
| bers of the real estate firm of r C..
Hoffman. Evidence is accommodating
every day that the District is getting
TO be a favorite field for the invest
ment of outside capital in real estate.
The Washington capitalist is not as
quick as he might be to see the advan
tages in this direction. He does not
grasp as promptly as the Out-of-town
man of means the opportunity To en-
nance his income. / remember, a few
years ago, capitalist from one OF the
Northern cities came into our ONCE
about 10 O'Clock in the morning and
said he wished to buy piece Of busl-
ness property by noon, as he had only
until O'Clock TO remain in the city.
| We looked over our property list, gave
him some memoranda and he went out.
/ saying he would inspect as many prop
critics as his time would permit; In
Just one hour he returned and pointing
! to an old corner building on a promi-
nent street. said: will take this
piece 1t should be added that ne lost
no time in tearing down the old Struc-
ture and erecting a new one which is
now one of the ornaments of the street.
cite this particular instance to show
keen in approaching the advantageous
propositions in real estate offerings In
Washington
Millions Invested.
8 THE past year has been fairly pros
!. porous in the way Of real estate trans
. actions Unfortunately we have no real
f estate exchange here as they have in
= other large cities. and the exact amount
= Of business done in this line cannot
= therefore. be given, but IL has run
T away up into the millions and would
make a most respectable showing in
. comparison with cities Of larger popu-
e lation. The coming year ought 10 see
o boom in real estate. Desirable prop
:, crty can be had now at fair prices
e yielding a good interest on the invest
q ment A year hence the same property
will be held at higher figures. We have
on our books property that could have
been bought a year ago for much less
= than the holding price is at present
: and this IS a fair indication Of now
real estate is advancing For desirably
. | located prOperty-and there is plenty Of 4
/ ! on the market-there Is no better in
= vestment
, Il should say. in conclusion. that q
vote OF thanks is due to the Commits
. sioners and the gentlemen who inter
ested Jacob Riis TO visit the city and
n lay the matter Of unsanitary dwelling
Y before Congress. There is no matter
o which the Citizens Associations should
urge with greater persistency than tn
+, abatement Of the nuisance OF poorly
lighted and ventilated dwellings,. IN
Vestors should be encouraged TO pro
vide sanitary houses and health sur
, roundings for the poorer classes. Oh
i alley houses ought to disappear or b.
n modernized. A small outlay in this di
= rectiOn would yield owners a handsom
- profit Such slums as we have in Wash
=. ington should be made to disappear ant
~ our city become in this respect also. a.
= in ali others. the most beautiful CAPT
tai Of the world"
: Architects Sanguine.
An equally cheerful view Is taken b
? the architects. whose opinions may b
regarded as summarized in the follow
: ing. expressions of A. Goenner. one {
/. the leading men Of the craft in Wash
n iEetOn.
q ..The mast Near has been one of Tn