The Washington times., 1905-12-24
MOST VALUABLE
BUILDING SITE
Lot at Fourteenth and /
Streets Worth $50 a Foot.
IT MAY SOON BESOLD
Has Remained in Stone Family for
Many Years-Last Owner Went
There as Bride.
1T MAY SOON BESOLD

Real estate men of Washington gen
orally concede that the property al the
northeast corner OF Fourteenth and
streets northwest is the most valuable
plot of ground in the District of Column
bia. exclusive of improvements This
estimate is based upon the actual mar
ket value of the land per foot Tor busi-
ness purposes. and the view OF the
real estate fraternity Is shared by we'll
advised business men who have con-
templated it's purchase and the erection
upon ii of modern structure.
The entire section in the neighbor-
hood Of Fourteenth and F streets is
In the vortex of the financial and mer-
camille life of Washington. There is
not an inch of the space for a block in
any direction from that poin: that is
not bound, in the estimation of experts.
to advance immensely in value within a
few years and IT is surprising, at first
glance. that so much of the splendid
location has remained until now in an
unimproved state.
Reason for Delay.
As matter Of fact, the delay in the
devclonment of nearly all the land I'm
that vicinity, which has not been I'M
proved, is easily explained. The large
space extending south on Fourteenth
street, from G street, which is now
covered by one-story stores. belongs to
trust estate. created in 1860 by the
will of Robert Cruit. The construction
of the will has in recent years been,
and Is now. in litigation and no salts
factory conveyance can be made at this
time of the property.
The reason why the Fourteenth and T
streets corner, commonly known as the
stone property" has not been de-
veloped heretofore, IS unique There has
not. it Is explained. been a time when
this site could not have been transferred
with a good title If the owner had cared
10 sell Mrs. Margaret Ritchie Stone.
who acquired the property in 1870.
entered the old brick house as a bride
and until her death last December. held
on to it through a sentimental attach
ment- She absolutely refused to con-
slider any offers for its purchase, al
though fifteen years ago as much as
slo0,oO. or about $50 per foot, was Of
fered for it,
Rejected Big Offer.
The property, along with five other
lots adjoining Il on Fourteenth street
and on 7 street. is controlled by At
torney Benjamin S. Minor. who Is ex-
ecutor of Mrs Stones estate Mr.. Minor
has said that shortly before Mrs. Stones
death. she received and rejected an offer
of 100000 fer the corner lot. This price
Iates the foot valuation at little over
$50
1t is interesting TO note that many
members OF the family which has 90
long held title to the property have
been distinguished in Washington life
Mrs. stones husband attended President
Lincoln in his last illness. DIR. Stone was
"A descendant of the Stone who made
The original engrossed copies OF tho
Declaration of Independence. Mrs
Stones father. Thomas Ritchie, was
the editor of the old National Intelli
gencer.
Negotiating for Sale.
Mr.. Minor is now negotiating will
several interests for a sale OF the prop
erty, the purpose being TO erect one o
the handsomest business structures o.
The Capital.