The Washington herald., 1911-05-14

The pace set during the drst week IN
May, when 19O transactions were closed,
proved too heart-breaking clip for the
real estate brokers to maintain and last
weeks record involves a decline Of nearly
Is per cent from the high-water mark.
Not that this second week failed to
maintain a good record. With the clos
ing of 163 transactions in real estate.
there have been few weeks this year
and 1911 has been noted for a series of
record breaking wrecks-that have sur
passed the week just ended. Moreover
the number of deeds recorded last week
surpassed by two the number recorded
for the same week in 1910.
Last Thursday. however. established
one record for 1911, and came within a
few figures of establishing record for
the office of the recorder Of deeds in the
City Hall. On that day 1D papers were
filed in that office The greatest number
Of papers ever filed in one day at that
office is los. which record was established
June 80. 1898. the day before the stamp
tax levied during the Spanish-American
war became operative.
Outlying Tracts Lead.
Out of 253 lots sold. the outlying sub
of ninety. The near-urban district, with
a total Of sixty sales to its credit ran
second while the northwest, northeast.
and southwest. and southeast finished in
the order named.
One of the most important transactions
Of the year and by far the most impor-
tant of last week. was the deal closed
through the Office of E. ], Totten & CO..
by which ex-senator John b. Henderson
acquired 1900 square feet OF valuable
Sixteenth street property for approx
mately $4,000. Mr.. Henderson bought
from out-of-town holders. His new prop
erty gives him possession of all land
north of the new Macveagh residence. as
far as Harvard street, nearly 10000 square
feet in all.
Bringing out a price Of sl750O0. the
Berkshire and Stockbridge apartment
houses in Chaplin street have been sold
to the Reinhold Realty Company by
James Karrick. The sale was made
through the office of the New York Real
Estate Brokers by w. c. Prather
The Berkshire is a five-story building.
adjoining the Stockbridge. The former
has an annual rental Of $1,000 and the
rentals Of the latter aggregate &, 400 an
nually.
NOute safe DY MI.
Prather is that Of three-story structure
and Fourth street northwest. The build
ing was sold to Howard Christman by E.
T. Berry for $1,000.
Transactions are being closed rapidly
in Massachusetts, Avenue Heights, the
new subdivision which Thomas ]. Fish
er is popularizing. Already this month
six sales. involving many thousand
square feet Of land. have been regis
tered. Several resales have been made
at n second profit.
A bond issue aggregating $4,000 will be
ordered by the Washington Hotel Com
pany. which owns the Continental Hotel
on the Union Station plaza. A trust to
secure such an issue was placed on
record last week. The bonds are of the
denomination of s1,000 bear per cent
interest. and will be payable June IS.
ISIS. The bonds mature at the same
time as a building loan placed on the
property before the erection of the hotel.
Loan Market Declines.
decline from the figures hung up
by the first week this month. was notice
able also in the loan market. The ag-
gregate for loans recorded was $751;
33e.64 for the repayment of which sum
2s7 lots were pledged. There was no
change in the average interest rate from
the figures of the preceding week-51z
per cent.
The bulk of the weeks business was
from new loans, in which line a total of
SSH ,s11.21 was reached. The building as
sociations put out loans aggregating $73,-
$50. The largest borrowers were owners
Of country property, who demand total
OF s4o9 4S7 81 from the market. Property
in the northwest was pledged for the
next largest sum-s25l, ,B9.6I. The north
cast drew $4,000: southeast, $24,3S5, and
the southwest, s12, 400.