The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1910-11-19
CHEVY CHASE BONDS
GO WITH A RUSH
Issue of 100000 Sub
Scribed by Outside
Investors.

That foreign capital appreciates the
stability OF values OF real estate in the
District OF Columbia Is evidenced By
the fact that the entire issue Of $500 co
in bonds authorized by the Chevy Chase
Land Company was subscribed exclus-
lively by outside investors during the
past week
The bonds, for which the company
pledged selected portions Of its holdings
in the District, were issued IN denOmt-
nations Of 81 90, are payable November
]. ls36. and bear interest at the rate OF
~ per cent The Union Trust Company
IS named as trustee in the deed OF trust
filed BY the company to secure the
To Reduce Indebtedness.
The new issue is understood 70 be for
the purpose Of funding and reducing the
company's Indebtedness, and many Of
the subscribers merely renewed the sub
scriptions they had under previous
bond issue
The former tncumbrance included
lands owned by the company across the
boundary line Of the District. IN Mary
land. These Maryland tracts are eitTni-
mated from the present deed of trust,
which is said, also not 70 include sub
divisions called Chevy Chase D. e.
and Chevy Chase Heights All the IN
sold lots in the other tracts owned Dy
the company are understood TO be IN
cIuded IN the blanket trust securing the
new bond issue
While the number OF deals in real
estate closed this week IS IN excess OF
the business Of the previous week. the
lots sold do not reach the figures OF that
week The total number Of lots con-
veyed during tie past SIX days is 81
The outlying subdivisions are IN the
lead this week, with total OF eighty
seven lots transferred, Outstrippiag the
near-urban district, where only seventy
three lots changed owners
Georgetown Is Active.
A boom in Georgetown property,
where one sale Of thirty-six lots aggre-
gated nearly 10000, swelled the total
Of northwest lots sold to seventy-six.
The northeastern section came next
with tventy-fOuT lots sold, followed
closely by the southeast with twenty
one lots But three lots we're conveyed
this week in the southwestern section.
The $4,000 deal in Georgetown was
made by Louis c FerTeIl, who conveyed
thirty-siX lots on I street. between
/ Thirty-fifth and Thtrty-six streets, to
William L. Stewart Nine other sales
IN West washington were closed during
the week
only two sales were recorded ia the
business section this week. and both
near New York avenue ] Miller Ken
yon sold a part Of two lots on that
.
streets, to Daniel D ConIOn- The price
+ is not stated. Moses Goldenberg spent
I 5000 IN acquiring q site for a ware
I house on Eighth street, uSa- New York
avenue, in the rear Of his Seventh street
store
Big Week For Loans.
| The Chevy Chase bond issue helped
| materially the financial market this
/ week 10 pass the $4,000 mark The
/ total OF loans for the week was 1884,
/ Z340S, advanced on the security OF -
lots, in addition to the Chevy Chase
/ holdings, at an average interest rate OF
/ "a per cent The new loans amounted
/ to S5S7, 57.6e, while purchase-money notes
( aggregated S192,S16-4S- The building as
/ sOciatiOns put out $3.50.
County holdings were most heavily
! encountered, the total reaching $Jo7, SS4. 0S.
/ Within the city the record shows north
/ west, S14S.7S0; northeast, So, $50; south
/ east, $3.50, and southwest. S9,550