The Washington herald., 1909-06-17

was closed yesterday when ". w. Fra
zier OF Philadelphia, sold to the Potomac
Heights Land Company seventy-fve acres
Of land along the Potomac River. known
as the Athletic Park tract, for a eonsid-
Grafton said 10 be $1,000 an acre.
This tract extends along the Potomac
River and the Conduit road for about
half a mile The tract is divided into
two sections by the car line Of the WASH
ington Railway and Electric Company.
which runs through it on its course TO
Glen Echo Park.
Adapted to a Subdivision.
The land constitutes a plateau about
Ice feet above the Potomac. and the view
up and down the river Is picturesque and
beautiful no part OF the land is rough9
and only one or two acres are OF irregu-
lar contour, the body OF the ground lying
well for subdivision purposes, easy TO
grade, and can be put in shape for sale
OF lots with but little expenditure.
The Potomac Heights Land Company
| Is a North Carolina corporation, COM
posed of Salisbury and Spencer business
men. including r. H. McNeill, formerly
OF North Carolina, but now a member Of
the bar Of this city. who organized the
company and negotiated the purchase OF
the ground. These men have all had
large experience in real estate operations
in North Carolina and elsewhere. and.
seeing the attractiveness OF the business
in Washington. decided 20 put their
money into a large operation here.
Officers of the Company.
]. D. Dorset. OF Spencer. N. c., is presi-
dent Of the company; R. H. McNeiIl. vice
president and general counsel. and J. NJ.
Maupin. secretary-treasurer ana sales
manager.
Mr.. Maupin has brought his family 10
Washington and established a residence
near the property IN the Minor residence.
known as Castle View" and intends 10
give his entire time 10 placing the prop
erty on the market. Mr.. Maupin has also
opened the company's Office in the Colo
rado Building
The new owners expect to subdivide the
property ar once. Tentative plans have
already been made to this end, and II is
expected that about 500 lots viii be avail
able after dedicating streets, as required
by law. In fact. several houses will be
built at an early date. as contractors
are now considering plans and specifca-
tions for these residences.
Prices VIII he Moderate.
II is believed that the property VIII
sell rapidly. as the prices VIII be put
within the reach OF the general home
buying and investing public. These rea-
sonable prices. coupled with the added
inducements Of an electric car line within
one square OF every lot in the entire sub
division, two fine macadamized roads
parallel with the whole boundary on the
| eastern and western sides, the new line
OF the Baltimore and Ohio Railroad on
the west, the business growth OF Wash
ington. Georgetown. and ROssiyn. Va.
would seem to make the property highly
desirable for homes investment and con-
servative speculation. as a substantial de-
velopment here viii cause a rapid in
crease in real estate values.
The two-story brick residence at 20l1
First street northwest has been sold 20
Raymond Augusterfer by Shannon &
Luchs through the OfFee OF Francis A
Blundon. The house contains six rooms
and tiled bath Mr. Augusterfer VIII
occupy the property as his home, the cost
Of which was $500