The Washington herald., 1907-03-17

Grant Parish. a Washington real estate
broker, who devotes hi5 attention chiefly
TO the sale Of property In the States Of
Maryland and Virginia, takes an opti-
mistic view of real estate as a permanent
investment His views on the subject
are especially interesting in connection
with the panic of last week in the New
York stock market.
/ Mr. Parish holds that real estate in
vestment, when compared with the stocks
and bonds of railroads, industrials. or even
! commercial enterprises. is better than any
Of them. more secure. and less liable to
4 fiuctuation or decrease OF value by Incl
dents connected with commerciaI- depTes-
sion. On this PORT Mr.. Parish says.
The past and present time shows to
the investor and student of financial in
vestments that real estate of whatsoever
character, when negotiated right, bought
right, and managed right, is the one
safe, sound, and confident investment
of permanent character known 70 man.
Property Visible and Real.
AN indi, ,idual owning a city lot, or 1000
acres Of land, or house. can go out and
look at IL, stamp on il, and with exalted
/ pride say. I own this lie knows where
he stands. possesses a tangible asset, visi-
bic to the eye, soothing TO the touch. and
I peace TO his mind that the security Of his
investment brings him. Not so with finan-
cial syndicates. 1t is not my purpose to
refer or dwell on the many schemes and
! promotions that glut all avenues leading
20 the field OF business: but take for ex-
/ ample the premier enterprise of the world,
the Standard OH Company In the year
Of l902-five years ago--its shares on the
various exchanges throughout the world,
as a matter Of record, sold at $40, per
share: to-day it is quoted at $5i0. You
can figure out the shrinkage yourself. and
/ this in the face Of a complete ownership
/ of. the oil products OF the world
Take the Pennsylvania Railroad, the
/ premier Of its class in the country. within
! the past fourteen months it has fiuctu-
ated up and down fully SIS. and the same
can be said of the New York Central
! Railroad, and a greater up and down
/ movement in other transportation lines
] has been recorded While these figures
I OF fuctuation represent what Is termed
! normal conditions Of Wall street, day
I by day. still. the loss of over S5o0,fO0o00
( IN shares during the past week is a
! spectacular demonstration that water and
\ bad seed viii produce a poor harvest.
IF one of those Jim Hill panics should
/ materiallze into a real, simon pure 55-93
/ panic, such a tumble of prices in stocks
and Wall street securities would quickly
pauperize thousands who are now work
] Hs.a~ D. Nfr-r. ae
/ walking around in high CATERS"
Something in the Buying.
It IS Mr. Parish's opinion that after
eliminating speculative and fictitious val
uations. when one makes haste slowly.
negotiates right, buys right, ard man
ages right, then real estate is pre-emi-
nent IN the process Of accommodating and
retaining wealth.
Varia@s kinds of real estate present
an interesting scope OF action and opera
ton. likewise some localities possess a
higher degree Of values. yet each piece OF
real estate possesses its opportunity" in
some form or OtheT devoid OF AltOn-Har-
riman-Union Pacific rapid high financial
pressure. II is sometimes a slow coach
In comparison. but il reaches a simon
pure destinatio Of intrinsic valuation
in due time, which Is what all legitimate
investments should guarantee.
Market shows Improvement.
The real estate market, as foreshadowed
in the daily court record OF transfers.
shows signs of improvement. There are
more instruments placed on record. and
an examination of the list shows that
they are well scattered over the District.
M ono co1ffos, bafvrr vo-Ia,foF - tt,, 90,
raj selling and buying of property.
Among the sales Of the week's-end was
S.6l6 square feet Of ground on Belair
Heights bounded by California avenue.
Twenty ty-fourth street. and Massachusetts
avenue. the price being SI.s0 a square foot.
The deal was made By Murray Cobb in
connection with Fitch. Fox & Brown The
lot fronts III feet on California avenue
and is triangular in shape II was pur-
chased by an investor whose name is
withheld. and il is expected that the tract
will bc divided into several small lots AMI
dwellings erected GpCn them
Sales by stone q Fairfax
Stone < Fairfax yesterday reported the
sale OF two residences during the week !
as follows: For Harry B. Wilson and
Harry ~Wardmaa, brownstone and brick |
house. 1l05 X street northwest. for SI3.- I
5gJ. The purchaser is "a well-known /
physician. who viii occupy it as home 1
after SOME minor repairs. For c. H. |
Foulkcs. threc-story brick dwelling. at 1
1911 Monroe street, Columbia Heights. for |
$500.
The same firm has sold ten lots on FIT |
tecuth street. near b southeast. on which t
houses will be erected: two lots on Pop
lar avenue. Lanier Heights. on which 4
houses viii be built; also n lot on Clifton /
street as the site for a brick dwelling.
A building permit has been issued to
Rev. J. a. Matthew, of ST. CyDrians
parish, to erect a three-story hall and /
school on 9 street, between Twelfth and
Thirteenth streets southeast. Charles J.
Cassidy will construct the building ac-
cording 20 plans furnished by J. Wenig. /
architect. The cost is estimated at SIS 000
Offices Being Improved.
Wilige. Gibbs & Daniel are having their
offices on Thirteenth street completely
renovated. They will be papered
throughout. repainted. and several new
desks and sonse new office furniture are
expected to arrive for the use of the
growing force of statesmen and clerks.
The Offices will also be equipped with
new lights and new heating apparatus.
The Hayes-Sharp Realty Company has
leased the second floor at 612 Thirteenth
street northwest. adjoining the building
of the District Title Insurance Company.
and has fitted up a suite Of rooms there
into large and convenient real estate Of
fees. The company mOyedairto the Of
fees from 72s Thirteenth street last week.
Not g. ]
two weeks of March have not been .sched-
uled as good weather this Company re-
ported yesterday several sales, among
them the business property at 1929 Four
teehth street, for Mr.. Rouser. at S q
SQUARE foot The HaYes-Shnrn Cnrnnan,-