The Washington herald., 1911-05-28
loan ACTIVITY
IN PAST WEEK
BREAKS REC0RD
Realty Transactions Dimin.
ish in Number.

MONTHS LOWEST TOTAL
BY far the highest figure attained
by loans this year was hung up
through the efforts of the realty
brokers last week, 81, ,25O,OOO, as the
result of phenomenal activity in the
loan department of the real estate
business. This figure involves no
bond issue. The total has been sent
above the million mark in the course
of several weeks, but never except
when large bond issues have served
to swell the figures greatly.
J A 100000 LOAN.
The transaction by which the Scottish
| Rite Masons borrowed 100000 from the
American Security and Trust Company
to commence the erection of the new
temple at Sixteenth and streets was
tn largest loan Of the week The second
largest loan. one for sl5O.000 was made
| to Harry Wardman on an apartment
house. Clarence w. Colliere gave a trust
of 100000 in the purchase of the property
at the northwest corner of Fourteenth
and H streets. on which he paid $ss 600 in
cash. Two trusts, aggregating SIS, 200,
were placed on premises 424 and 426
Eleventh street northwest. by the Co.
lumbia Hotel Company. which will use
the new property as an addition to the
Raleigh Hotel.
| The business of every day last week
| helped to swell perceptibly the general
total made in the loan market. The fig
ures day by day for the week follow: Mon
day. si35, 5,sli.so; Tuesda $500, lS5.4O: We'd
nesday,' s1o2. .ol3.94: Thursday, s127, ,o3In:
Friday, 6211; Saturday. $50, AT.
| No new record was made in point of
| total transactions closed in the course Of
the last week. A number Of the sales in
volved large amounts, but the total was
| the lowest OF the month"; being one below
| the record for the second week-the low
| est Of the first three-and twenty-eight
below the first week. which was the high
est seven-day period recorded.
Suburbs still Lead.
The suburbs continued to maintain a
safe lead in point OF activity. OF the 1s2
sales closed-the sales involved 255 lots in
ALTO lots were in the outlying suburban
district and s. in the near-urban sections
The northwest led the city districts with
"a lots transferred. followed by the north
1 m
west with each.
The exact figures in the loan market
this week were s1,217,753 IS, borrowed on
the security Of eOe lots. The interest rate
remained at 5.4 per cent, the prevailing
figure of the previous week, and one
point below the second week Of May.
The building loan Of $4,000 on the
Scottish Rite Temple placed the new loan
division well in the van this week. with a
total of SSSS.59s.57. The totar Of the de-
ferred purchase money trusts was $685.
555. 2s, while the output of the building as
sociations aggregated s63,6OO.
In the northwest the loans reached
sSSS, $50. County property was pledged for
a total of s326, 296.10. The record of loans
in the other sections is: Northeast, sa0,O05;
southeast, s19,G74.75. and southwest, s12 sss
With the purchase of two large tracts
of land for subdivision, the surveying of
another large tract, and unusual activity
in several previously subdivided there
has been lots Of interest in outlying SUBJ |
urban properties.
Involving a total price Of about a third
of a million dollars. two large tracts ad- !
joining and just north Of the Shepherd |
road were purchased by West Vir- |
ginia syndicate. through William E. Fow-
Ter, the local representative. The tracts |
are known as the James NJ. Love and
NJ. H. Wells tract and the Christopher |
O'Hare tract. The former includes about |
twenty acres Of ground and the latter
tifty-six acres. They are near the inter- |
section of Shepherd road and North Capt. !
tel street. II is understood the property |
will be subdivided and placed on the |
market at once.
The other sale was that of 219 acres |
for the Bowie estate to Samuel w. Simp- |
son. The tract is located on the Marl- !
borough pike, about four miles from the |
Capitol. and fronts on the thoroughfare |
for 100 feet. The purchaser will SUBJ
divide Immediately and place on the |
market through the realty firm of Wag-
staff Il White. which firm was the broker |
in both Of the sales.
Fort Myer Heights.
Fort Myer Heights, the Virginia SUBJ
division adjoining Fort Myer. which was
plated some time ago, has been acquired |
by the Groves Park Company and will |
be placed on the market at once An
nounoement was made earlier in the |
week Of the intention Of C. c. Glover to |
subdivide sixty-six acres of valuable |
ground in Sixteenth street, about q mile |
north of Argyle and three miles south of |
the District line. Twelve and q half /
acres Of this has been plated and will /
be placed on the market tomorrow and 1
the remainder will be ready in the near
future.
In the near-urban district the most |
important sale of the week involved a
portion of Slippery Hill. which adjoins I
1ngleside and runs along Rock Creek
Park. Fenelon B. Brock and Shelton 7.
Cameron bought thu nranertx fos S2a ooo