The Richmond Virginian. (Richmond, Va.) 1910-1920, 1910-06-25
Many Investors Driven Away to
Mountain and Ocean
Resorts.
BUSINESS WILL PICK Up
IN AUTUMN, AGENTS SAY
Demand for Suburban Property,
However, is Reported Good
With Demands Very
Brisk.

by an exceedingly large exodus OF per
sons from Richmond to seaside and
mountain resorts. caused something III
slump In realty the past week. rs
a general proposition. In particul Al
instances, however. more than ordi-
nary activity was noted, this being
particularly the case with West End
property.
The fact that many realty investors
are included in the exodus to cooler
parts. some for a few weeks and
others for several months, viii doubt
less cause business 10 be slow through
out the summer season. agents say
although last summer proved rather
an exception to thi srule, From now
an exception to this rule. From now
improved property will he far below
normal. On the other hand, home
seekers, as rule. are no respecters
of seasons, and this fat will help sus-
tain demands for residential property
regardless of weather conditions and
the good old summer time"
1T. james sold.
From all accounts, no big sales were
contaminated during the week, with
the exception OF the sale of st. James
Episcopal church. at Fifth and Mar
shall streets. to Thalhimer Bros. for
$500 This deal proved 10 be OF
considerable interest. in view OF the
fact that the purchasers announced
that they Will erect brick stores on
the site when the congregation vacates
two years hence and takes possession
of its new edifce 10 be erected on
West Franklin street
Also of special interest was the re-
port that the Richmond. Fredericks-
burg and Potomac was negotiating for
lease OF the Mayo building, on the
southeast corner of Main and Seventh
streets, for general Office purposes,
The report was all the more interest
ing, because one OF the Richmond
daiiies tried to be facetious by de-
claring that President White, OF this
road pat The virginian In the Anan-
las club in connection with the deal
Obstacles in Way.
II is very likely that the negotia
tions would have been closed ere this
but for one or two facts, One OF
these was the fact that the Massey
Business College, which occupies the
second and third floors of the build
ing. holds lease until September /.
Isii, and Is promahly unwilling to
vacate Just now. Another obstacle,
1t is understood. was the character
Of improvements which the road
wanted TO stipulate, one proposed I'M
prorement being an elevator system.
The fourth ttop) floor is vacant. and
IT Is declared TO be not unlikely that
the tratfic department of the road Will
take possession of these quarters al
an early date. even though the re-
mainder OF the offices remain in the
Byrd Street station for period ION
ger.
Quarters ConGested.
One thing in connection with the
matter is absolutely certain, and that
Is that the railroads office business
has become so congested in its pres
ent quarters, which 1t shares with the
Atlantic Coast Line, that more com
modious quarters must be provided
sooner or later In fact. 1t may be
stated that the road viii eventuaNy
either enlarge its present quarters. or
perhaps put up new building IN
centrally located part of the business
district, IL II falls to make satisfactory
rental arrangements.
While the railroad seems to be hav-
ing troubles OF its own in flnding bet
ter quarters. seekers after homes IN
apartment houses continue much IN
evidence, a particular case being the
Gresham Court apartments, for which
Pollard Il Bagby are agents Eighteen
fats In this building have already been
engaged. These fats wHl be ready
Tor occupancy ABOUT StpbeHihCA -
Pollard Il Bagby report only a me-
dium amount of business for the week
ms n result of the hot weather and
slump in the market. Some of their
sales consisted of negro property In
jackson Ward, which was disposed OF
at auction the middle OF the week.
This property was sold as follows;
No. 6l1 l-2 East Baker street to p.
r. Teiser. $500; No. 607-9 Preston
street to Ware 81 Duke, $3.50; No.
SOC l-2 Preston street to Julian p.
Thomas, $3.50.
Biggest Week Ever.
C;olsan AZ Nash, who make spe-
cialty of Westhampton property, prov
ed themselves an exception to the rule,
reporting the biggest week since they
went into business, having executed
more than twenty sales that brought
upward OF $4,000. More than 100
persons, they say, were taken out to
Westhampton in their automobiles.
They attribute their success In
measure to the opening of the Coun-
try Club last Saturday. this event hav-
ing stimulated business considerably
in excess Of their expectations.
This firm announces that 1t viii
omen a branch Office In Petersburg
next week.
The Abbey Realty Corporation also
announces that business mas never
better. This company Is engaged prin-
cipally In selling OFF Colonial Place
lots, located In one OF the most at
tractive sections OF the West End.
Giuter Park is likewise abreast of the
times. Amos n Poindexter report
about $4,000 worth of business for
the week. Reuhrmund g. Bowles had
no figures to give out. but they said
business was very good. This Arm
makes q speciality OF Washington
ward property, and. according to
clearings compiled by Mr.. Charles r.
Ruohrmund. Of the Arm. property In
the ward across the river is rapidly
increasing in Importance In the realty
world.
ClearinGs Across River.
Clearings for the period OF May Is
10 June lii were 3l03,242. improved:
lConfinusd On Second page.l