Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-07-27
SLUMP IS Now HERE
But Real Estate Brokers Are
Not Dissatisfied.
SEASON BETTER THAN USUAL
Absence of Operators Makes Large
Deals Rare.
BUT SUBURBS ARE LIVELY
Electric and Steam Roads Do Their
Greatest Business This Month Be-
tween City and Nearby Towns.
SEASON BETTER THAN USUAL
BUT SUBURBS ARE LIVELY


Although this Is looked apou as tHe aul
season for those engaged tn the real estate
enterprise. it is as good and brisk
in Washington AT rrcs,n; as any one could
wish for under the circumstances accord
ing to H. a. Thrift real estate operator
at 7la 14th street northwest. Of course.
there is the customary summer slump. and
"thc big sales" have been temporarily ~I,s-
pended. and those who deal in oul, larr,
transactions are taking vacation. Nj
Thrift pointed out.
THE suburban dealers" Ia said. AR.
busy; some OF them working overtime
This present activity in suburban realty.
he contends is due to ever-inrreasing de-
mand for suburban property and the fact
that the late spring and cold weather IN
June caused considerable OF a setback in this
department OF the real estate business
Prospective suburbanites were very back
ward In coming forward until four OF I've
weeks ago because OF the rainy and chilly
and other climatic conditions during April
May and June. Now that summer has SET
tied down and warm weather has a firm
grasp on the city there is exceptional
activity in suburban transactions. accord
ing to Mr.. Thrift.
This activity. although later than usual.
must be an atonement for the dullness IN
the spring" Mr.. Thrift said The real
estate dealer who is catering to the 'medi-
um-sized and moderate priced suburban
property is right in his prime now and will
De right along. All sections are faring well
n
coveted than the others. People looking
for suburban property want latitude. They
all feel like they want to sit on their front
porches and look down on the old Capital
Swelterfng in the heat. There are a number
OF such places around Washington and In
every instance where the transportation ia
ciiities are convenient and reliable they are
being much sought after. OF course sor-a
OF the newer places are somewhat hand
capped by the absence OF modern water
ana sewerage connections. but II does not
take these places long to acquire these ne
cessftfes OF life. In q great many Instances
where suburbs have been recently opened
these conveniences have been assured within
the next year"
Virginia Suburbs.
Mr.. Thrift is of the opinion that tho sub
urbs located on the Virginia side OF the Pn-
tomac and between the Aqueduct bride
ard Great Falls have experienced COZ
ispicrous boom during the past season, 4
their iuture' he contends, is very promising.
Their claim upon prominence and success.
according TO him. is their altitude trans
portation facilities and natural sc.uic
beauty. The various rumors about ira
wabash railroad coming into WASHINGTON
over the Old Dominion tracks ara rra
fact that surveyors nave been seen scurrN.
ing around that vicinity. presumably n
connection with the Wabash has given
cause 10 much of the activity in mis- sor-
N. y "a of nr.tf
country villas have been run up out there
during the past six months. hut the ma d.
OPERATIONS have been the construction ot
]f,evt and $1,000 homes on lots averaging
'axlo' feet, sold for much down ana tn.
remainder by monthly lnstallnents
Inc rumor that a new fire insurance con-
pany Is soon to be organized in the city
mas gained credence during the mast we.n
/. and II Is stated that fine new ortice hui d.
ing Is 10 be erected to accommodate it
IL Is now claimed that such a company
is ABOUT 10 be launched. under the name az
the Capital City FIRE Insurance Company.
and that 1t will erect a building 10 crst
about Sl10UW
Temporary Quarters
The company, II Is said. will occupy the
ground floor OF the proposed building tina
upper floors to be rented for office pur-
poses. Negotiations are said In be far al
vanced for the siee OF the building whicn
Is to he IN F street. in the upper part and
the new building. 1t Is sad, vii! De an i'm
posing structure among the large business
buiic-ngs already erected and to be erected
in the financial district of the city IN.
CapitaI C.ty Fire Insurance Compary "a
located IN the offices OF Ricketts, d. t.ynon
al 100 street northwest and /, was
saio iast might by Interested parties that
negotiations, well under way TOR the pur-
chase of site for the new buiIdtnu az.
expected to be closed WITHIN the next ,-w
days one or the requirements or r,e lnsr,r-
aiice laws OF the Dlstrict is That a nN-i
amount OF assets Shall invested In "a ASH
lngton. and 1t Is stated thai m. copnar,,
mas determined to put more than the re-
quired amount OF capi.al INTO the proposed
puiioihs, as 1t Is thought that the rental
from such building VIII morc remun-r-
ative taan similar amount invested in T.
terest-bear7ng securities. Il was SAID las
NlSnt tnat tie capital stock OF the rnw
company would be placed at 10000 to be-
suCscr!oed Tor and paid in at 81 80 a share
thus prov ding a surplus OF 10000 over and
above the cost Of the proposed building
Inc capital City FIRE Insurance Company
was organized several weeks ago 10y New
York parties, but control of II has recently
passed into the hands of local capita 1873
and ii is said to ho the present pole of
the company Ia limit the sale of the r.
ming SHARES Of the stock to residents of
Washington
Besides the usual advantage Offered for
sock Of a similar character tie stOcKhoid-
ers of the new company are offered speclal
Inducements n the way OF insurance. pro-
vided they become Identified with this CON-
pany. 1t is proposed to carry Oh general
insurance busino IS. with branch offices h.
the larger cities of the country. II i
pected that the TrOii,s from this bus ness
will be such TO max. tie ownership of
stock valuable. at least within "A reasonable
period.
The plans OF the company. Il Is stated. are
well matured, so that Its success + looked
upon fy those in the confidence II the pro
motors AZ assured 1t was said last night
that agents OF the company are already AZ
work. and II is expected that the advanced
premium contracts Will equal IL not sur
pass tire capital OF the company On the day
II starts In business.