The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-08-16
BIG DEALS MARK
WEEK IN REALTY
Activity in Small Properties
Gives Added Stimulus
TO Trade.
SMALL INVESTORS
PURCHASE HOMES
Dealers Generally Pleased With
the Exceptional Volume of
Summer Business.

A fair degree Of activity in small prop
critics, ana a number OF unexpectedly
large deals, were the features of the
real estate market during the week just
past In addition, there was no class
of realty that did not snow some life,
whether in the city or the suburbs.
u other words. the real estate field
is one Of the few I'm the business world
that is not almost quiescent during tho
present summer season Even the re-
turn of extreme of hot weather dur
ing the past few days failed TO bring
dUIlness that. If il had developed, might
reasonably have been called only sea
sonable. Investment buying was the
cause of most OF the deals, many OF
the purchasers, moreover, being men OF
other cIties.
This source Of real estate activity has
been more and more marked since the
beginning OF summer. With many Of
the wealthy local investors ont of town
during this season. the purchases of
Washington property 10y out-of-town
capitalists have stood out the more
distinctly before the world of those in
terested IN real estate transactions.
Homes Are Bought.
Here and there, also, is TO bee noted
"a purchase OF a residence by some small
investor OF another city. And inter
mingled with all the transfers record
ed from day 20 day, is the steady pur-
chasing of Washington property by resi-
dents OF this city.
The day seems to be passed when
any doubt as TO the enhancing values
81
bia IS seriously entertained where the
real situation is known The increas-
ing population the prestige resulting
from the nations government being es-
tabHshed here, the caIiber of the city
as d proved municipality, and, finally,
the restricted limits within which land
must Dee located 10 Je called Washing
ton property-these phases of the situa-
ton have sileuced the critics the while
they have created confidence in all quar-
tiers and enthusiasm in some
Meanwhile, land has been approaching
i1 value. one need only compare the
present price Of any piece of land with
what IL was a few years ago. The les
son of the past IS the promise Of the fu-
ture.
A Good Average.
Aside from what may be said Of the
public recognition Of the local situation
iu general. however. there are to be
found those who Cavil at the present
state OF affairs. The above summing up
of the doings of the week is, neverthe-
less, but the average of the maximum
and the minimum together; that is, pro-
uounced activity has prevailed in a few
quarters and dizziness I'm q few more.
The average of dealings must ii would
seem. be declared satisfactory for an
August market. and most OF the dealers
are ready so 10 characterize it.
4 review Of the week includes the
sale Of the Hail Of the Ancients, recent !
~ mentioned, as one Of the biggest
deals. In connection with this "a per
sisteut report was circulated that the
site would be remodeled into a theater
IL is now learned. however, that tie
former owners of the property consider |
ed the project months ago and decided /
against it,
The new owners have altogether diff |
ferent plans i'm view This talk of a |
new theaJer receives little credence |
among real estate men. 1t crops up i
every now and then. The recent form |
alton of a combination of most of the /
try, sometimes called the theatrical |
trust. makes the future OF a new thea
ter more dubious than ever
There is already "A definite plan on /
foot for the building of a theater for /
the Auditorium Amusement Company. /
and even in this case the projectors of
the enterprise freely admit that they
must fight the theatrical trust, perhaps
in the courts. or else abandon the enter
prise The development of the situation
whereby the so-caned trust says there
shall not be a new theater building
viii be interesting TO watch.
Plan for Theater
There are under way some imports ut
deals involving large business properties,
announcement OF which is expected TO
be made shortly. These will be of inter
est not only as showing that the as
sertiOns OF lack of summer dullness IRE
correct, but as Indicating the outside
interest shown in local real estate The
purchaser IN each Of these new in
stances will be found To be a resident of
a distant city
One Of the interesting features Of the
general rounding out OF plans made
months ago was the definite step which
taken for the acquisition of land for theI
addition TO the Bureau of Engraving.
The site will include all Of square e31
that the Government does not already
own, near where the Bureau now is;
and the whole fsquares 30 and 23s.
Object of Treasury.
These three squares are on the west
side of Fourteenth street, and extend
from b street southwest TO the AIonu-l
ment Grounds. The appointment OF Har-
old Z. Doyle as appraiser OF the land
is 10 give the Treasury Department the
means Of learning whether the present
owners are asking too much for their
All OF the owners have not
submitted their offers 70 the Treasury
Department, and the figures of some
who have done so smack strongly oil
fancy prices
II the appraisal made by Mr.. DOYLE
does not tally with the submitted figures