The Washington times., 1911-08-19
BUSINESS
REACHES LOWEST
LEVEL THIS YEAR
Many Big Transactions
Completed This Week,
However.

| A series of contrasts is presented In
| a review of the realty operations tor
the third week in August. While sew
eral involving large considerations were
| completed, one amounting to $3OO,OOO,
another in excess Of 1900. and third
at nearly $50 600, the volume OF business
done reached the lowest ebb IN lsll.
With the money market showing ngures
approximat ting $1,500 900, and exceeded
| only once in the current year, the record
| also discIoses that in at least one case
the rate of Z per cent interest was ex-
acted Of a borrower.
While the number Of closed sales this
week evidences a decrease Of nearly
20 per cent from the figures of the
previous week, the number of lots in
volved in sales shows an increase Of
more than 10 per cent.
Only LIS sales were consummated this
week. In these 227 lots and parcels OF
real estate were transferred. The
northwest crowded the other outlying
subdivisions for first place. The su-
burban section won with SeVenty-one
sales, a margin of seven over the sixty
four lots conveyed in the northwest
The northeastern portion Of the city
was victor over the near-urban district
In the race for third position. Its Win
ming mark was thirty-nine, as COM
pared with the near-urban record OF
thirty-two lots sold. In the southeast
nineteen lots changed owners, and two
transactions Of one lot each were COM
/ pleted in the southwest
Big Loans Placed.
The feature Of the money market this
week was the placing Of two loans ag-
gregating nearly H,OOo,00O. One for
s750, 900 was negotiated on the new
Woodward building at Fifteenth and II
streets. To secure the repayment Of
this sum borrowed from the Travellers
Insurance Company, of Hartford,
Conn, Samuel w. Woodward and wife
transferred the property to E. Quincy
Smith, of this city, and the City Bank,
of Hartford, as trustees. A series Of
six notes were given to represent the
Indebtedness, five Of them are for
$50, 900 each, and are payable in twelve,
eighteen, twenty-four, thirty-sik, and
forty-eight months. The last note Is
for $500 900, payable August 3, 1916. In
terest at per cent, payable semi
annually, is called for by the notes
Mr.. Woodward stipulates in the convey
ance that he will keep the property In
sured for $750,0O0.
The second largest loan was made to
Harry Warlman AMI Thomas Bones for
financing the improvement TO the prop
erty recently purchased bv them from
the Kennedy estate. at Fifteenth and K
streets northwest. The lean. aggrecat-
ing SlS3.lGS. was made through the firm
Of SwartZcll, Rheem q Henscy. They
placed $5U.u00 on each Of three lots, pay
able in three years with interest at ola
per cent. Tho balance OF the loan,
SS3 l6S was secured o.I four lots of the
new subdivision made by Wardman &
is payable on demand. and $50 draws
interest al 81 per cent.
Character of Loans.
These two loans aided materially In
augmenting the figures for the week to
81. .359, ,05T 90, q sum that was exceeded
only by the last week OF March in the
midst OF the spring activity. and then
by less than $4,000. This almost rec
or,l-breaking sum was secured on 1S
lots at an average interest rate of "a
per cent.
The location of both the big loans in
the northwest brought the total money
yecured on land in that section to sl.OSl,- :
;S3 County borrowers ranked second
with a total of $3.50. .469. 30. In the north
east there was borrowed S4,46o: in the
southeast sl7,soO; and in the southwest
s4.925.
Straight loans had almost a monop-
DIV Of the market. showing an aggre-
gate OF S1,27. 49s. The sum of all the
notes given for deferred purchase money
this week was 81. 500 3n The building
ASSOCIATIONS advanced only $9,S5O to
members.