The Washington times., 1910-11-05
RECORD FOR LOANS
SET DURING WEEK
Deed of Trust Placed on
Property to Secure
$1,000, 1000.

A new record for a loan on an indi-
Vidual holding Of local real estate was
established this week when the Riggs
Really Company placed on record deed
II trust to secure 100000.
This exceeds by 100000 the trust
placed on the Raleigh Hotel property
on October l and by $4,000 the first en-
cumbrance on the Southern building, in
course Of erection at Fifteenth and II
streets northwest.
The 100000 is represented by bonds
of the denominations OF 81, 600. $500. and
S1OO. and are payable in thirty years
with interest at per cent. The pro-
ceeds from the sale of the bonds. which
are mderwritten by the American Sc
curity and Trust Company and the Ma
tioraI Savings and Trust Company
Jointly, will be expended in the erection
of a new theater and office building on
the site of the old Riggs House, at Fif-
teenth and q streets.
Other Big Loans.
In addition to this large trust. nearly
100000 was loaned during the past week
on local real estate. which with the
closing CT transactions involving the
sale Of 26O lots, makes a most auspicicus
| The business Of the past week shows a
slight increase over the activity in the
corr espOnding period of 1909.
Probably the largest sale closed this
week involved the apartment house at
143S Meridian street northwest, the con-
sideratiOn being $4,000. Harry Ward
man was the seller and Frau Amelie
| Mass. wife OF Herr Louis Mass, of
Berlin, Germany, was the purchase.
The building is four stories high and
contains thirtS-two apartments. The lot
is S. by 157 feet The annual rental is
about s., 600.
Another interesting sale Of the week,
which, with the improvements to be
made, viii call for a total expenditure
of sg50,000, although the land did not
cost more than $4,000. included a front
age of 104 feet on F street northwest,
! between Seventeenth and Eighteenth
| streets. Victor J. Evans, a patent at
| Jorney, purchased premises I72O to 1924
| F street and a forty-foot vacant lot
/ adjoining on the west. On this property
ne will erect a seven-story fireproof Of
/ fee building as a home for the Civil
! Service Commission.
Big Sale Reported.
! IN tne business SecuOn a sale IN
volving a consideration Of 5000 was
I recorded. Elias HeIdenheirner DUP
| chased from Henry II. Hazen and
others the hotel property at zoe 20 Il:
D street northwest.
Despite the fact that the fall is far
advanced, the outlying subdivisions re-
| corded the greatest number OF sales
during the past sixty days. Eighty
four lots were transferred IN that Sec
ton, while the near-urban district
ranked next with a total of sixty lots
sold. Within the old city limits the
northwest shows fifty-seven lots con-
veyed, northeast thfrry-fOur, southeast
twenty-five, and southwest three.
The loan market for the week shows
a grand total of S1.4SS, ss2-67, borrowed
on the security of 2O2 lots at an av-
erage interest rate of 511 per cent New
| loans represented the bulk OF the
weeks investments with a total OF
S1.227,566. Deferred purchase money
notes amounted to S15S.74667. while the
! advances of the building associations
aggregated $3.50 The Riggs prop
erty loan swelled the figures for the
northwest to Sl,152.25O. while the county
property owners borrowed S229, 1926. Ir
! the others sections the total loans were
southwest Sz2,l00, southeast s1S,140
northeast sl6,73O.