Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-06-23
EPISCOPAL CATHEDRAL SITE, ST. ALBAN's.

as the seat of the general government and
the substantial character of the adminfstra-
tive buildings, the thoroughness with which
municipal improvements are carried on, the
entire absence of graft in our local govern
mental appeal to the outside investor
more than to local persons A retrospect OF
values will show an intelligent observer
that almost any piece of property pur-
chased, in what is known as the business
center of the city, within the past ten
years has made a substantial Increase in
value In addition to affording a fair income
on the investment. Investments of this
character appeal to the conservative in
weston in real estate rather than invest
ments in cities where conditions are less
stable and dependent upon political or
trade variations. l expect to see more and
more outside money invested here in the
future than ever in the past"
Fifteenth Street Values.
The real estate firm of r. w. Walker &
Son. one of the Oldest in the city, has
recently had a change In Its membership.
Mr.. r. W. Walker, the senior member Of
the firm, who has been in bad health for
several years, having retired from BUSH
ness. and Mr. william H. Walker. the
Junior member. continuing. This business
was established in the early seventies by
Mr.. r. w. Walker. with Offices opposite
the treasury, on the east side of 18th
removed to 1905 r street northwest In
1891 Mr. William n Walker, after having
been admitted to the bar, concluded that
the real estate business was more tempt
ing. and abandoned his intention of prac-
ticing law and became member of the
firm under the name of r. W. Walker &
Son For nineteen years or from 1887
until January, 1906. the business was con-
Quoted at 1905 street. Recently. how
ever. Mr.. William H. Walker became in
terested in the property at 729 18th street
northwest. between New York avenue and
II street, on which he erected a very SUBJ
stantial office building. to which he re-
moved his offices in January of this year.
Mr.. Walker. In discussing his change OF
location, said 1t Is quite interesting, in
looking back few years, to note the man
ner in which business centers will change
from one section to another. This has
been more marked. perhaps, in real estate
than in any other business. When hrst
entered the business, said Mr.. Walker,
"our offices at 1905 F street were in the
heart of the real estate section. the ma
jority of the buildings on both sides or +
street from sth to 11th streets being oc-
eupied for that purpose. OF late years,
however. the western tendency has been
very strong. one office after another NOV,
| ing in that direction. When concluded
to follow the tide and moved to my pres
ent offices some OF my friends thought
that had gone little too FAR. The de-
YefDpUfeuts VI tie past lC" hAotistS' AZ -"
ever have made me feel that / am now.
or soon will be. pretty close to the real
estate center of Washington. 1t was only
| in January last that my present offices
were completed and occupied. and since
that time more than half OF the property
on that street has changed hands. On
my south the Barton Hotel. which Is now
being demolished, was purchased by the
Swartzell. Rheem & Hensey Co. and Mr..
W. B. Hibbs. The former. on the portion
of the property purchased by them. pro-
pose to erect a handsome Office for their
| own use. Mr.. John o. Johnson and Mr.. r.
s. Donaldson have real estate Offices at
729 18th street On the opposite side of
| the street the Thomas ]. Fisher Co. will
have Offices in the new building OF the
Union Trust Company. which Is to occupy
| the site of the Colonial Hotel. Adjoining
| them on the south, In the Dockon building.
which was purchased several days ago by
Mr.. J. Z. Hendricks. are the Offices OF
| Thomas Hume & Brother and J. l. Kolb.
and I understand that another PROMINENT
1 firm will occupy offices on the west side
| of the street very shortly. Almost all of
/ these firms have changed to their present
| location within the past year. and be-
| lieve this entire section as Tar north as
I street will before long be given up very
largely to this business. The increase IN
values in this uptown business section
/ in proximity to the treasury mas been
| phenomenal in the past few years Nu-
merous instances OF property increasing
IS. 80 and even 100 per cent Ia value ara
known The tendency seems TO a3proacn
a. closely ~ possible to the treasury, ano
this IL especially true OF the banks and
trust companies. This. togeshor Witn ne