The Washington herald., 1910-11-20

Perhaps the most interesting feature OF
the local realty market during the past
week was the intermittent way in which
its strength was manifested Even the
contrast between the business for two
successive days OF the week was quite
marked, Judged by the duller periods.
the outlook could not be called other
than discouraging, but when the final
totals for the week are brought together
IL is seen that there is a distinct in
crease in money values. although the
number of parcels is slightly below the
average.
There was very little business prop
erty numbered in >the activity. OF the
week. only two sales being recorded. and
scarcely more leases of more than pass
ing Importance. The weeks record, how
ever. contains several residence property
propositions. and the apparent need OF
the city for moro housing is gradually
being filed by acquisition OF grouzd
where apartments will soon be erected
Several OF these multi-family residences
are already under way, and the number
Of contracts let for distinctly single fam
lily housing is we'll up 10 the average.
Market Was Uneven.
This uneven movement of the market,
is, alp things considered, a good sign.
No doubt It would be more satisfactory
to the army OF realty brokers to have
every day busy day. but such a condi-
ton can hardly be expected at Just this
season OF the year, and the closest OBJ
servers are not inclined TO cavil over the
TACT that If business is dull three DAYS OF
The week. the other half OF the six pro-
vide indication that Washington realty
viii for longer periods show up well with
the other cities OF the country To the
man conyersant with conditions through.
out the country, the fact is instantly
apparent that In the Capital City realty
there is a different proposition to face
than almost anywhere else. Knowing
this. We cannot expect to experience a
boom or speculative market and II I.
well for Washington that a steady, per.
manent investment market continues.
The largest lot proposition OF the week
was Heated by Louis {. Ferral, who con.
veyed thirty-six lots in T street, between
Thirty-fifth and Thirty-slxth streets, tc
VA L. Stewart. the consideration being
100000 This sale shows the strength OF
West Washington residential property
and indicates a belief that in the search
for attractive location. coupled with quicl
transportation facilities. the home buyer
OF the near future will turn 10 this Sec
ton Of the city.
business Realty Slow.
business property was exceptionally
slow during the past week. But two sales
were reported. both III New York avenue
Daniel D. COnlon purchased from J. Mil,
Ter Kenyon a part OF two lots between
Ninth and Tenth streets The considera-
ton was not stated, nor has Mr.. ConIor
stated what disposition he will make oil
the property. The other sale was that OF
a tract in Eighth street, close 10 the
Avenue where Moses Goldenberg vii
shortly begin the erection Of a new ware
house for his Seventh street store.
Probably the most interesting financial
proposition OF the week was the floating OF
the S20e,000 bond issue of the Chevy Chase
Land Company. The entire issue was sub
seribed by outside capitalists. which
speaks we'll for the favor OF Washington
suburban property In other cities. If moi
for. the slowness of local hnanciers 10 get
upon the investment ground.
The issue is of 800 bonds Of S.Os
each. payable on November l. 1920. with
interest at the rate of AZ per cent The
deed of trust is held by the Union Trust
Company. The purpose OF the issue. as
stated. Is TO reduce the eompany's in
debtedness. the time of payment of which
has been extended ten years.