The Washington times., 1911-09-23
WEEKS FIGURES IN
REALTY TRANSFERS
7 SHOW LARGE GAINS
Forty Sales Closed on
l. Thursday, Close to
Ms Years Record.
LOAN MADE FOR
HOTEL POWHATAN
Scene Of Greatest Activity Shifts
To Near-Urban Section
( Of City.

Marked Improvement is noticeable in
the result Of the operations of realty
brokers for the third week in Septem-
ber. Last Thursdays business showed
forty transactions for that day. This
is far ir advance Of anything attained
in the local market for several weeks.
In fact a days record Of forty sales
closed is above the average reached in
the busiest season of the year.
Monday and Tuesday both evidenced
increases over the average business Of
the previous weeks. although not ap-
preaching the record of Thursdays ac-
tiyity. There were twenty-seven sales
consumed Monday and deeds passed in
'twenty-six cases on Tuesday. A falling
off on the other thu ee days made the
total for the week 149 transactions, an
advance of twelve sales over the num-
ber for the second week OF the month.
While the number of transfers for the
past six days exceeds that of the pre-
CedinC week, the volume OF business as
shown by the number of lots conveyed
shows a slight decrease There were
included III the weeks business only
81 lots and parcels of real estate as
Compared with 245 lots sold in the sec
ond week of September.
Seventy-three Lots Sold.
The scene Of greatest activity shifted
this week to the near-urban district,
where seventy-three lots were trans
ferred The outlying suburban tracts
ranked second. showing a total of sixty
one parcels conveyed. The northwestern
section led the other portions of the
city proper with forty lots sold. The
record IN the other Cjtv sections shows
northeast. thirty-se"en lots; southeast,
thirteen lots. and southwest. seven lots
sold.
The financing of the new Hotel Pow
hatan. TO be erected at Eighteenth
street and Pennsylvania avenue, north
west, formed the feature Of the money
market this week. Two loans were
placed on the property aggregating
100000. The first trust for $l50OOO was
made by the Lewis Hotel Company, to
advance made by the Fidelity Trust
Company. of New York. This loan is
payable in five years, and bears in
terest at per cent. The second loan
was made to secure the contractor.
George A. Fuller Company, which Is to
erect the building. This paper calls for
kthe payment Of total of $4,000 to the
New York building concern This cost
of construction is to be paid in four
annual installments Of s12.5OO each on
October I. 1872 1914, 1915 and 1916. with
interest at per cent.
Brings Up Total.
These Powhatan Hotel loans aided
considerably in bringing the total in the
money market this week TO 1886, ,OOl 20.
For the repayment of this sum 24 lots
were pledged. The average interest
rate was Sc per cent.
Straight loans, of course, constituted
the bulk of the business in the money
market, reaching a total OF $405, 703. The
sum Of all the notes given for deferred
purchase money was $126,99S.7O. The out
put of the building associations was
$50, 300
The lions share Of the loan business
this week was obtained on property 10
Gated in the northwest. Owners of land
fn this section borrowed 1929, ,467. County
loans were just 800, 900 behind the north
west section, showing a total of $222.-
2S4.70. In the northeast the record Of
loans reached $3S, 900, while in the south
east, $3.50 was borrowed. A total of
$500 was secured on land in southwest
Washington.