Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-02-18
Senator's Bill for Avenue Pur-
chase Meets Approval.
MORE FACTS AND FIGURES
Analysis of Values Prove Wisdom
of Quick Buying.
PRICES STEADILY ADVANCE
What Owners in Squares 1914 and
295 Want for Their Holdings.
Tax Assessors Records.

The Hepburn bill. which provides for
the purchase by the government of all the
land on the south side of Pennsylvania
avenue between the Botanic Garden and
18th street back to the Mall. is meeting
with general approval. not only in both
houses of Congress. but wherever the
purpose of the proposed legislation is I'M
derstood The Star has published from
time to time analyses of the values of
the various squares which it is proposed
TO secure for public buildings and today
presents the facts in the case of squares
..94 and 2nJ -
Square 2o4 is triangular in shape and
directly south OF square ~; and west OF
square 81. which lies south of the POST
Office Department.. and was recently ac-
quired by the government. 1t is bound
ed on the north by street on the south
by Ohio avenue, on the east by l2th
street and on the west by 18th street
Dyers sawmill and lumber yard is on the
pointed end of the square. while Schnel-
ders iron foundry forms the base of the
triangle in large part on 18th street. En-
cept tho rear of the lumber yard and the
iron foundry. there is nothing worthy of
mention on the G street side. unless 1t be
the saloon property at the corner OF
18th street; while the Ohio avenue side
is given over to blacksmith and IRON
no building of a costly character at all IN
the square.
Assessed at $2.27 Foot.
The area of square 294 is given as
81, 49, square feet. assessed at $oS419, or
about $l.5e an average foot for the
ground and $S;,.O19. or about s2.27 a foot
for both ground and improvements. The
real value of the square if the assiss-
ha to Ea, oil ut
twO-thirds thereof. is SSI.62SJO. or S2.:'4
a foot for the ground and S39,MO for the
improvements. making SIT $3.50. or
about $3.41 a foot. for both. Nine per-
sons firms own the entire square. Six
of these. whose holdings aggregate :0..'.4
square feet. assessed at S4S 119. or about
S1.51 an average foot, for the ground, and
sol. 100 for the improvements, making
S69,219 or about $2261a a foot for both
estimate their property to he worth
s366.411, d fraction less than ST.
foot.
The real value of this property, if cs
timated by the method which assumes ii
to have been assessed at twO-thirds its
worth. is S10t or about $3.50 a foot
for both ground and improvements.
One owner who holds 1850 square feet.
assessed at sol .46S which is at the rate
of $50 foot for all except one lot of
4S4 feet. assessed at 81 a foot, and $1,000
for the improvements. is said to value it
at S221.Gpo. or a the rate of $3.50 Il foot
Another. with holding or lbI - ieet.
assessed at S161GS. or $50 a foot for
the ground. and $1,000 for improvements,
is said to want S7o.Nn. at the rate OF
about $3.50 a foot: while the owners OF
two lots side by side containing APP
prOXimatelv LOO feet each. assessed at
2.41l and S2.1JS. respectively, expect TO
receive at least $4,000 apiece. at the
rate of about S761 foot. for them.
An owner of little plot of 2S4 feet.
sessed at S42j or 81 - foot, is asking
81 a foot for his vacant lot. Although in
the main the property in this square is
used for legitimate business purposes. the
rentals do not seem to form a basis for
estimating its value. from the owners
standpoint. The owner of the holding of
10,11S feet. who wants S1n,WU for his
property claims his rental is $4,000
year. or equivalent to ; per cent on
SEQ .0OO: while the one who has 200 feet
and wants $4,000 for it rents it for $500
a year. or ) per cent on $4,000 4 sale is
reported of 1.9n feet. assessed at S2.10o
for both ground and improvements. for
5000. or at the rate of 81. 16 2-3 a foot
II is certain that several of the owners.
in estimating the value of their property
include the value of their business with
it. the same as if that business were to
be absolutely wiped out. although the
purchase OF their property would simply
mean a removal of that business to some
other locality.
In Square 295.