The Washington herald., 1910-01-02
City Sees Great Progress in All
Lines of Activity, and
Grows Rapidly.

by the panic than any other city IN the
country Business having its basis in the
salaries paid by the government to its
employees has a constant source of sup
port, and Is never much affected by the
movements which pertain in other cities,
or, IL so affected, in less degree. AS re-
suit. Washington has experienced through
the calendar year just closed all the inn
pulse of returning prosperity seen else
where to which may be added a large
influx of money from the outside In
vested In real estate and building ven
lures and the demand made upon the
sources of supply because of a rapidly
Increasing population.
The banks have had an exceptionally
good year The last call Of the Comp
troller Of the Currency showed large
increase in deposits, and in the later
months Of the year large increase In
loans and discounts was reported. due to
the increasing calls for money in busi-
ness and building ventures Some of
them are distributing larger dividends as
a result.
Building Very Active.
The past year has been the most active
in the history of Washington III the
building of residences, business build
ings. and the remodeling Of old structures
on a modern basis. Local contractors have
been such as to invite outsiders to
share in the work. IT is estimated
been such as to invite outsiders outsiders
10 share in the work II is estimated
that about $50 new houses have been
constructed IN the city or are now at
various stages of construction within the
! year. The majority of these have been
sold as soon as finished and many times
before
Apartment houses Of which it seemed
the Capital had surfeit, have gone on
multiplying rapidly In the real estate
deals Of the year this class OF property
has been specially prominent in many
| instances outside capital being invested
I in these houses. II is the boast OF sew
! eral real estate firms that they have sold
the same apartments two and even three
times within the year. each time at an
advance upon the previous deals
| In all directions the suburbs have been
built up rapidly. and il is impossible 10
find another twelvemonth in the history
Of the city in which It has expanded so
rapidly. Through the year II has been
constant source of wonder where the
house buyers came from,
Business Section Changes.
The business section of the city is also
going through a process of renovation
In Pennsylvania avenue. F and G streets
Seventh. Ninth. and other thoroughfares
the sound OF the. hammer and saw has
never ceased in all the twelve-month
period passed. Old structures have been
entirely replaced by new ones. A dozen
OF the popular moving-plcture theaters
have been erected, and one variety thea
ter IN F street, near Seventh. is Just COM
ing 10 completion
The Dime Savings Bank has recently
taken possession of its new home. The
Columbia National and the Second Ma
tionsl banks are each undergoing large
improvement of their banking rooms
The Park Savings Bank and the Provi-
dent Savings Institution, each organized
during the year. have gone into finely
new uptown music store. in which
they are barely settled. A number of
the leading merchants have either built
anew or have extensively remodeled their
stores during 1893. All along the line the
tendency OF things has been toward
/ larger facilities, more business, and bet
/ ter profits
This increased building activity has
enormously increased business not only
Of contractors. but Of material men, II
has brought a vastly increased tonnage
/ OF traffic te the city. Ia which the trans
/ Dortation companies have profted. Iron
men, plumbers. stove dealers, carpenters,
bTicklsyers. and the whole circle of
| tradesmen have had a.share in the larger
/ field Of work, and Washington for the
year has been at the flood tide Of &C
tivity and progress.
! Retnil Trade Improves.
! All this has had its effect upon retail
trade. As matters stand in Washington.
/ there IS no means Of finding out closer
/ than a shrewd guess how much capital
/ is invested in local trade. No records
are kept either by trade bodies or other
| wise as to the possible volume of bust
ness from year to year. but basing the
| statement upon observation, increased
advertising space in the newspapers. and
other surface Indications retail trade has
surpassed all previous records for this
I city. Individual houses may or may not
have done as well last year as in pre-
vious years, but retail trade in all de-
partments must have gone forward into
achieved before.
/ The city has more people. demand for
ell things OF a merchandise nature has
expanded, and the people of the city
| have bought very freely. even at the
higher prices that have prevailed
High Prices Help business.
The general benefit to business from the
higher prices was pointed out in this sec
ton of The Washington Herald recently.
when It was shown that bank balances,
investments. and all the machinery of
business had been literally oiled through
the year from this source.
The government appropriations for inn
provements and current expenses in
Washington in 1909 were up to the aver
age of recent years, and there was no
diminution from that source.
During the year a noticeable advance
has been seen in the expansion of local
traffic facilities, especially in the ex-
tension of the lines of the Capital Trac-
ton Company, which has been something
of a stimulus 70 trade beyond the mere
cost of the construction.
The Washington Baltimore and An
napols Railroad has completed it's ar
engagements for entry into the heart Of
the city at an expenditure Of about $500
O0o, and its trains viii be running to Fiji
teenth street northwest before many days.
The new Union Station has been going