The Washington times., 1911-05-13
Pace Set for First Part of
=: May Too Fast to Be
Sustained.
SUBURBAN TRACTS
EASILY KEEP LEAD
Loan Market Also Declines-Con.
tinental Hotel. TO
Issue Bonds.

Ishe record-breaking pace set by the
real estate brokers >during the first
Wek Of May. when a new mark of 19C
transactions closed in one week was
hung up. proved too strenuous TO be
sustained. AS a consequence, a review
OF the realty activities of the second
week OF the month shows a decline OF
10 per cent from that record.
Durlng the past six days 1853 deals
IN real eSSSte reached the record stage
ana a comparison of this volume OF
business with other weeks of 1911 dis
closes that the agents have been busy
even If they could not equal the mum
Der OF transactions consummated I'm the
preceding week. There have been few
neeihs thls year that have exceeded the
business OF the second week of MAY. The
number of deals closed this week sur
passed by two the transactions recorded
during the similar period of 1910 ac-
eSIoIne 70 the hgures in the office Of
Last Thursday witnessed the filing of
l43 papers with the Recorder, Including
DEEDS. trusts. and other instruments al
iectlng the title to real estate. This
is the highest number received for rec
ord on any day in 1911, and is only
twenty-five papers below the high mark
CT the office. The greatest number OF
papers evss filed in one day in the his
recorded June so, 1898. the day before
the stamp tax levied during the Spanish
war became operative.
Many Transfers.
total of 253 lots were transferred
during the past six days. The OUTLYING
suburban tracts were easily in the lead,
with total of ninety-nine lots sold.
In second place is found the uear-urban
district, with sixty sales to its credit
Within the city proper fifty lots were
conveyed in the northwest, eighteen in
southwestern and southeastern sections
purchasers of property in the new
subdivision of Massachusetts Avenue
Heights are closing their transactions
Already six sales, Involving many thou
sand square feet of ground in this sub
division, have been recorded this month.
The consideration in the deeds are NOM
tnal, but from the amount of the de-
terred purchase money trusts the prices
paid run into considerable figure.
Numerous other sales are announced in
this section in which the deeds have not
passed.
The Washington Hotel Company,
which owns the Continental Hotel on
the Station plaza, has placed on record
trust to secure an issue of bonds ag-
gregating $50 0O0 The bonds are of the
denomination of $1,000, are payable June
q, 1915, and bear interest at per cent.
The bonds mature at the same time as
building loan placed on the property
before the hotel was erected.
Loan Marked Down.
The loan market also declined this
week from the figures of the preceding
aix days. The total of loans recorded
vas ST31, ,332 g. There were pledged for
the repayment of this sum 2S7 lots. The
average interest rate remained at 5H
per cent, the figure of the preceding
week
New loans formed the bulk of the
weeks business, totaiing S371, ,Sl1.21. The
sum OF all the notes given for deferred
payments on newly acquired real estate
this week was S2S6, 17l.44. The building
associations put out loans aggregatinS
$f3, $50.
? owners OF property in the county were
the largest borrowers this week, de-
Inanding of the market a total of S4O9,-
<s797. Northwest property was pledged
for the next largest sum, which was
Us, ,059.67. The record of loans in the
other sections was: Northeast, $4,000;
southeast, s24,SS5, and southwest, sl2. 400.