The Washington times., 1911-05-20
THIS WEEK SECOND
BEST THIS YEAR IN
REAL ESTATE DEALS
More Than a Million in
: Loans and 176 Sales
Reported.

With total Of loans exceeding s., ,00o,-
900, and with the number OF sales closed
reaching 176, the third week of May
takes rank as the second best week Of
fS71, when activity in all branches of
the real estate business Is considered.
The first week of May holds the years
record. In the number Of sales IL ex-
ceeded by fourteen the results attained
in that line by the brokers this week,
but in the loan department the banner
week is about $500 behind the amount
Of money borrowed during the past six
days.
A review of the past weeks business
discloses that the brokers were deter
mined to make up the ground lost dur
Ing the previous week, when decline
of 15 per cent was recorded from the
record-breaking activity of Mays first
six days. That success almost perched
upon their banners Is shown by the close
approach OF the record attained this
week to the appointed goal-the equal
Ing Of the result Of the leading week OF
the year.
Army and Navy Club Trust.
Unless an unlooked-for decline should
occur during the next ten days, the
month of May, 1911, will easily surpass
in results any of the previous months Of
this year and will show an Increase over
May, 1910. one of the biggest months
hnOWn IN Ine history OF the O1flC0 OF
the Recorder of Deeds.
The feature of the business of the
past week was the placing by the Army
and Navy Club Of a trust upon its new
clubhouse now in course of erection at
Seventeenth and 1 streets northwest, to
secure an issue of bonds agsregating
100000 There are 1,760 bonds, of which
LOO are Of 500 each and $50 bonds Of
5000 each. The entire issue is payable
December l, 1861, and bears interest at
per cent, payable semi-annually.
The club reserves the option to retire
$4,000 worth Of the bonds each year.
The trust securing the bonds Is made
subject to balance OF 10000 due on
the purchase price of the property. The
Washington Loan and Trust Company
is named as trustee.
In the number Of lots sold, the third
week of May leads for the month. Dur
ing the past six days 334 lots changed
owners, an increase of six lots over the
number sold the first week of the
month and exceeding by 81 the number
of lots included in the sales Of the pre-
vious week. More than half the sales
were made in the outlying suburban
transferred this week. The near-urban
district ranks second, with 20 lots to
It's credit.
Northwest Makes Record.
Within the city proper the north
WeSNCIu ECCAAOl C4CCCNcl ny u the
total of all the lots embraced In the
three other sections of the city. There
were 81 lots conveyed in the northwest; q
in the northeast; II in the southeast,
and in the southwest
With the aid of the 100000 involved
in the Army and Navy Clubs bond
issue, the figures for the week in the
money market reached $l,0S7, ,131.65. To
secure the repayment of this large
omount, go lots were encountered. The
average interest rate declined this week
one point, falling to 54 per cent
New loans easily led the market with
a total of $73,272.4 10. The sum of the
purchase money notes given this week
Is SITS, 409 25, while the output of the
building associations aggregated $3.50.
The bulk of the loans was secured on
property in the northwest, where the
total of loans reached s696,S7S.20. County
property was pledged for a total OF
s2s1 ,153 45 The record of loans in the
other sections is: Northeast, $500;
southeast, S19.350; southwest, $3.50.