Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-03-14
COLONIAL HOTEL PROPERTY
NEW FINANCIAL CENTER
Change in the Location of a Trust
Company-The Vicinity of 18th
and II Streets Northwest

deed was placed on record today by
which the Colonial Hotel property at the
southwest corner OF 18th and III streets
northwest. and T36 18th street adjoinsng
the. above, was transferred to James c
Payne. George L. Hamilton and Frederick
Il. Mcclure. trustees. who represent the
Union Trust Company.
This change OF Importance has been de
cided upon by the board OF directors of the
Union Trust Company, which ia now locat
ed at 14l4 + street In building which was
specially built for its use by Mr.. Joseph +
Willard some six years ago when the com
pany was organized.
The proposed new location is the vaiu-
able corner which is known the Colonial
Hotel property where is to be erected a
large building by the trust company. On
the lower floor will be offices for the use OF
the company and of the rhos. J. Fisher
Company, while the upper floors will fur
nish space which can be leased for genera
office purposes
The proposed building Will he "A moderU
office building. going mp to the fun height
allowed by law. II will haNe,a frontage rot
fifty-three feet eight inches on H street ar'
l61 feet on 18th street, with an /. OF deptH
of l45 feet to alley.
The price which paid TO the Owner
of the property. MIR. Stilson Hutchins, was
S3f300o, The change in the location Of the
brought about in the near future by the
erection of new building at a cost OF
some 100000. is to be begun at once, IS
due TO the increase i'm The business of tn"
company and the need that has arisen for
mere room than the present building AZ
fCTds Although the company was not or
ganized until some six yesrs ago still snch
has been the development of its business
shat the building which then was thought
10 be adequate has proved to be entirely
Insufficient
In order 70 relieve the pressure somewltit
galleries were placed last year In the build
ing where accommodations were provided
for some portion of the clerical force bur
this provision proved TO be of only temp
orary relief
The president of the company, Mr. T. J.
Stellwagen. has felt the need of some
remedy for this condition, and perceiving
the trend of business. which has shown
signs of occupying q somewhat new section
of 18th street above New York avenue. he
selected with the advice OF his assocla A
In the company, the site above mentions Z
On the opposite side OF the street. fronting
this property Is the Barton Hotel property
which is to be improved hy new buildings
for the use OF W. b. Hubs a. Co and
the Swartzell, Rheem q Hensey Co, whi"
on the southern corners of the block ar"
the homes of the American Security and
Trust Co. and of the National Safe De
posit Savings and Trust Co.
The addition of new modern structure
in that locality is looked upon as another
step in the progress that mas been made to
ward the transformation of that neighbor-
hood into busy business section. The growt tn
of these interests of the city has been such
as to make this course inevitable for some
time back. and those who have noted the
tendency and taken advantage of the pro-
iect OF a forward movement OF this sort are
helping on the natural development