The Washington herald., 1909-04-08

The largest ana most important prop
cry deal OF the present year has been
c7nsummated between the National Net
ropolitan Bank and the Riggs estate.
whereby the latter acquires the old bank
building. In Fifteenth street. AT 2 cost of
about ,25G0oo. The deal was completed
yesterday. oscar LUckett representing the
Risgs estate rs attorney, and the Of
feials of the National Metropolitan Bank
the owners of the property.
The property in question is the I'D build
in= forn5rriy occupied h. tie National
Metropolitan Bank, standing between the
new hank and The Riggs House The
building was formerly the home or the
Citizens National Bank before its con
solidation with the Ne ropolitan Bank #;
was built nearly thirty years ago. and is
stuI q substantial structure. well fitted
for business purposes.
VIII Not BECOME a Rank.
one OF the conditions O, the purchase
was that the buyers signed contract not
10 use il themselves or TO lease The prop
e-ty for banking purposes To- O period
or FIVE wears 7, fact. IL is known 10 be
the Intention Of the purchasers ultimately
20 improve the lot On which the building
stands IN connection with the ho;cl, upon
the adjoining site. II was stated 10 ThC
Washington Herald Yesterday that TIRE
Riggs estate intends Nitrin few gears
&c erect a large hotel upol the site q
tlo present RISES H3vse ana the bank
building. though no plans of a definite
natsr . have been en-. cred into as Vet look
taz 20 taat end.
THE baa's buildiag has a frontage in
Fineentl street of about sixty feet, and
rEns back ausn with tre reae o. the
Irlal Iot TIE opportunity came 10 bus.
uud it wes taken no by the estate at a
favorable time L is understood thot the
parcisse Iri e was n a-ly S5o square
foot
Bank Would Utilize Money.
The officials of 1He Nstion5l Mct-cpoii-
tsE FAM sa.d las; night q ~ tac chic
motive o. Tho ianz ia selling the prop
e-ty was 20 make productive the large
sum % money locked up IN the property.
rcpressntiug cbCut >2N.cta This the bank
wiz be able 20 use 10 better advantage
than go have e invested az present in
idle and un1-oductive real estate II is
the feellns among the directors Of the
hank and its officers that the institution
has done well in disposing OF the old
building at such good figures.
The National Metropolitan Bank moved
into the new building which il now occu-
pies last year. having erected tho same
Al a cost Of about SS03.p0 for the lot
and building The bank has had con-
tinuous existence % nearly 100 years. snd
IS among the bsst and most conservative
financial Institutions Of the city
Buys TaimprOved Lots.
Another big deal in realty vas an
nounced Yesterday. in the purchase by
Isaac T. Mann, Of West Virginia. for
$4,000. OF unimp-oved property having
frontage OF 2l7 feet on Sixteenth street
and % feet on r street northwest. The
property was sold by the RosedaIe es-
tate Tile deal was made through the
Office of Frederick May. It is understood
that VT Mann viii soon erect a hand
some residence upon the property for his
own use.
story & Cobb announce the sale. tp-
Mrs Elizabeth s. G. Potte- OF tire resi-
dence al 1T23 y street northwest, former
" the home Of the late Mrs. Nicholas
Fish. Mrs. Florence 3. Harris. Jf New
York. is the purchaser. and the price paid
for the property Vas $35G00. The house
Is a large four-stOry structure % the
English basement design and viii &c
occupied BIZ Mrs Harris as her home.