The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1910-10-01
investments in Purchases
and Loans for September
Reach 81, 100000.
FILING OF LARGEST
DEED OF TRUST
Sales for the Bristol School
Involves Sum of
S25O,0OO.

Investments IN local real estate, by
way Of purchase, and loans for the
month Of September. reached S4,590-o00
Trading started briskIy with the first
week Of the month and gained mo-
mentum with each week. the past six
days showing a record OF nearly half
the total Of LIZ lots, which changed
owners during the month
Two records were broken during the
past week in the realty loan market
A total Of 81, 555. 509 -s6 was borrowed on
the security Of local real estate, sum
far in excess OF the figures for any
one week IN the memory OF the oldest
operators
The week also witnessed the fling OF
a deed of trust 10 secure 500. 90. said
70 be the largest sum ever borrowed
iIs the District OF Columbia. as = first
encumbrance on an individual holding
of real estate This trust exceeds by
$1,000 the loan made on the Southern
building, now in course OF erection at
Fifteenth and H streets, which had
heretofore held the record
This mammoth loan was made by the
Fidelity Trust Company Of Philadelphia
10 the Columbia Hotel Company, which
owns arr6~ operates the Raleigh Hotel
The money Is repavable in ten years and
OF notes. series Of 1890 bonds were
issued TO represent the loan 500 Of
these are for $1,000 each and 500 for 500
each
Loans For the Raleigh.
The money is to be used by the com
pany in paying of the present encum-
bTances Of about 5000 on the pIop-
erty, and in completing the new addi-
uon TO the hotel, which is to embrace
the original structure and the Cochran
properly adjoining on Pennsylvania
avenue. Should the balance be insult
9Cient the stockholders At . recent
meeting authorized an additional loan
Of S2Ooeoo or 50 much should be
necessary. With the new addition, it
iE said, the Raleigh property viii rep
resent an investment Of S2,oFo,v9-
The largest sale Of the month. in
volVing the buildings and grounds Of
The Bristol school for girls. al Twentieth
street and WOOdlev road. was closed
yesterday, when William J KehOe con-
veyed the property 10 the Washington
Educational Society, the corporate name
OF the institution. The price paid was
S25o,000- The area comprises $1,000 square
feet. Of which 1890 fronts on Twentieth
street and spreading T-shaped in the
rear, the remaining 1900 feet have n
frontage on WOOdiCy road, and what
VIII be Nineteenth street, when that
th0rOughfare Is extended
The improvements include the former
homes Of the Sands and Shields. and 4
$4,000 educational structure recently
completed by Mr. EenOe-
The only sale IN the business section
this week COMPRISED the office building
at 90 Q street northwest, where Percy
H Russell has his real estate Offices
Mr. Russell conveyed the property TO
FlOTine A Albright The consideration
in the deed is nominal
In the Suburban Districts
The transfer Of go lots in the subdi-
vision of Manor Park and its addition
swelIed the record for the week ia the
suburban subdivisions to 425, out Of a
total Of 81 lots traded in this week. In
the nearurbau district siSty-seven lots
were sold. while the sections Of the city
proper show northwest. thirty-fOur:
northeast. tTenty-Six- southwest, twelve
and southeast. nine lots sold
There were pledged 59l lots TO secure
the total Of S1-556. Sc IS loaned this week
The average interest rate was 81 per
cent
The Raleigh Hotel loan increased the
total Of new loans for 5he week 70
q, fS0, ID7.64. Purchase money trusts
amounted to SH205222, while the output
Of the building associations was $50, go.
Northwest property was pledged for i
total Of Sl,Gz6-4g5 and county lots for
Ss4i-3lL1Z In the northeast was loaned
Sle,Z5 while the southwestern and
southeastern sections ran a race. the
latter borrowing S1..S7S-zE TO $500 by
the former