The Washington times., 1911-04-27
INVITATIONS OUT
TO BIG BANQUET
BY REALTY MEN
Merchants to Hear Plan of
City Real Estate Com
pany Discussed.

| Invitations We're received today by
many Washington business men to the
real estate banquet which is to be given
in the red pariors of the New Willard
Hotel Tuesday evening, May 8, at 7:30
O'Clock. This banquet is being rendered
by Reginald w. BealL Vice president Of
Moore & Hill, Inc, to discuss and per-
feet the organization of the City Real
Estate Company, an organization new
In plan to this city.
The company which is expected to re-
| suit from the gathering Of men interest
ed In local realty Investments is to be
Incorporated with a capitalization Of
$4,000 100000 in per cent cumulative
preferred stock and 100000 In common
stock in shares of so each.
It's Purposes.
The purposes Of the company were
outlined today by Mr.. Beall. He said:
THE organization of the City Real
Estate Company supplies long felt
want in the city Of Washington. The
company has mapped out for its plan
of work the buying and selling of bar
gains that come upon the Washington
real estate market: the improvement of
houses out of repair; the building OF
houses; the purchasing and developing
of good suburban enterprises; the pur-
chasing and selling of real estate secur-
tiles; and, IL necessary. to engage in
the real estate, loan, and insurance
business as brokers and agents.
THE officers and directors Of the
company will be selected from the
stockholders, either at the banquet. or
at some other time to be agreed upon.
There are to be not less than five nor
more than twenty-five directors.
1T Is not the intention to purchase
properties for permanent<1nvestme
but rather to make purchase of prop
erty that can be improved, and prop
erty that can be readily sold. There
are large opportunities for making this
time. Ne yer before in the history of
Washington has there been such an
opportunity to purchase. somewhat
under the actual market price, homes.
business property or suburban prop
erty which can be resold at consider
able profit. There are many real bar
gains upon the market and there Is
always ready sale for this class of
property. In many instances II Is
only necessary to place a small mar
gin on the purchase and hold 1t for
a resale which can be quickly and
readily made. There are many indi-
viduals who derive their income from
real estate in this way.
"With the cooperation OF a large
number of stockholders interested in
the enterprise who would cooperate
with the officers and directors in
making the company a success there
is no reason why IL should not be built
up into one of the most successful
concerns in the city. I
May Exchange.
The trustees of Massachusetts Avenue |
Heights. the American Security & Trust ,
Company, are considering with the Navy |
Department an exchange of properties |
held by each whereby the needs Of both |
will better be served. North of Massa- |
chusetts avenue, the Government owns |
a strip OF ground which is surrounded |
on all sides by the property OF the new |
this and another piece adjacent to the |
Naval Observatory circle for wider |
strip for an avenue running through the
property and a piece inside the circle
itself. II Is expected satisfactory |
transfer can be effected.
Dickson Home Started.
The BoyIe-Robertson Company today
began the construction OF the John
Dickson Home for Aged Men on the
plot of ground surrounded by Fourteenth
street, Piney Branch road, and IngrS-
ham streets northwest, adjoining SauPs
on the north and Fourteenth
Street terrace on the east. Plans were
irawn by Arthur B. Heaton and were
recently described in detail in The
Times. The Dickson home will be one
Of the most artistic pieces of Colonial
in the District. The build
re- will cost about s125,0o0
Report Two Sales.
Julius Abramson has purchased from
James r. Ellerson and Thomas H.
the two-story dwelling at 1544
First street northwest for $4,s50 The
sale was made through the office of
Hillige, Gibbs & Daniel. The house is
one of a row recently built at the
southwest corner of First and @ streets
northwest.
Willige, Gibbs & Daniel also report
he sale to Edward M. Dulin of a lot
Q by "a feet on the east side of Twen-
ieth street, between K and L streets ,
northwest, for $1,000. Mr. Dulin will
'uild three dwellings on the property.