The Washington herald., 1906-12-02
Big Deals Announced in City
and Suburban Property.
NEW TRUST COMPANY FORMED
Prospective transactions Reported
by All Brokers Visited-Demand
for Business Property Regarded as
Hopeful Sign-Large Tracts I'm
Northwestern section Were Sold.

beth I'm business and suburban property,
have been brought to a conclusion, and
the facts made public or are about to be
announced. Taken in the light Of opera
tions announced, the transactions of the
week were large. showing that there is
an active undertone 10 the market which
keeps the leading brokers busy fixing UP
deals. some Of which crystallize and some
fail
During the week there has been much
talk about prospective deals. They in
volye the transfer of apartment houses,
business property, large tracts OF sub
urban land to be subdivided, and the
usual operations in the sale Of houses
and lots. Every dealer questioned yes
terday stated that he had transactions
of one kind or another pending which
he hoped TO announce within a few days.
Possibly the most interesting piece of
news was the announcement late yester-
day afternoon of the formation of the
United States Trust Company, in which
large number Of the local real estate
men are interested This project has been
talked about quietly for the last six
months, one or another of the men con-
information relative to the plans Of the
proposed company. When the announce
nent was made, however, yesterday it
was seen that the reports hitherto cur
rent had much understated the scope
Of the concern. and those not personally
interested We're surprised at the big task
the promoters had taken upon them
selves.
Home Life building sold.
The sale OF the Home Life Insurance
Building TO Stilson Hutchtns for $500
was the biggest deal of the week in bus
mess property. This building. bought by
Mr. Hutchins as an investment, is one
of the most prominent landmarks at
Fifteenth and G streets. 1t was built in
1892 by the Tyssowski brothers. and its
sale by the F. II. Smith Company, as
agents. created genuine surprise through
oct the business section.
Other sales of business property are said
to be on the taDis, and some of them may
be announced during the coming week. Ii
is regarded as a hopeful sign for the bet
terment Of Washington that there is so
large an inquiry on the part of investors
for this class of property. keal estate
dealers consider it proof that men of fore
sight are convinced that the Capital has
entered upon an era Of large growth.
which will affect its business interests as
well as the mere selling of property for
fine residences, school sites, churches. and
institutions for charity. Brokers are
united in the view that the rising values
Of business properties is certain Indica-
tion that Washington IS growing in a
healthy manner. and that industry and
tpade Will not be sacrificed to other inter- |
ests as the city expands.
stone House Vanishing.
one of the most conspicuous operations
in building was the beginning last week Of
demolishing the old Stone house at Four
teenth and F streets preparatory to the
erection Of the new office building on the
site. By the end of this week the old
structure will have been removed and the
excavation begun for the foundations OF
the new The building projects on Fif-
teenth street are all progressing rapidly,
and the new bank structures will soon be
rearing their lofty steel frames and gath
ering the stone work about the base The
ne# District Building is approaching the
top of the walls, and attracts much IA
vorable comment AS the outlines of the
design are unfolded in the stone work
Two biz deals in suburban property
were closed during the week, involving
large outlay and paving the way for ex-
tensive building operations in the near
future. These are the transfer of Rich !
mOnd Park 10 new owners. and the sale /
OF the Huidekoper tract composing thir-
ty-twO acres, TO Col a. f. Randle. This
tract lies along the extension of T street. /
north of Thirty-seveuth street. The new
tract viii be subdivided and improved sim
Ultaneously with Richmond Park, and will /
give TO the region beyond Cleveland Park, |
between Connecticut and Wisconsin ave |
nues, new Importance in the develop
ment of the city in that direction.
RumOr of Big sale.
Considerable interest attaches to re-
port current yesterday that the Tucker (
man house, Sixteenth and I streets north 1
west. had been sold 10 Kirke Porter. of 4
Pittsburg. for Sej0.0oo. 1t was impossible /
last night to confirm the report Westcott 1
& Story, who are said to be the agents 4
IN the transaction, said last night. /
through Mr. Westcott. that they were not /
in a position to confirm OF deny the story /
He said there were negotiations pending
D
not say with whom or how far the pre- /
liminaries Of a trade had been completed
II is assumed that the trade is on. and |
that the main facts In regard to it have /
leaked out.
The Tuckerman house is one OF the /
finest residences IN Washington. It is in :
the same square with the home Of the /
late John Hay. of the Army and Navy
Club. the Rochambeau apartment house /
and other large and costly structures. /
The lot on which the house stands has 1
much open ground, being about 1900 feet
in area. and is bounded on the south and /
west sides by alleys. On the supposition 1
that Il viii be acquired by the Pittsburg
capitalist. Il viii make him and his fam
lily a fine home Mr. Tuckerman. the
owner. is in New York, and other men,
bers of the family decline to give any
information regarding the sale Of the /
property.
A large sum Of money in the aggregate 1
was invested last week in the two auction
sales of lots ut Daniels Park and Laurel /
conducted by Edward Daniels and the
Greater washington Realty Company. re-
speetively A big crowd attended each /
sale. and in each instance many lots were
sold TO prospective home buyers
Attention is again directed 70 ''Metropo-
lis View by the suit filed in court by
the stockholders against the estate of the /
late George B. Dennison, who formerly /
participated in the sale of property in /
that subdivision.
sales by Moore & Hill.
Among the sales made by Moore & Hin |
during the past week are the following: