The Washington times., 1912-04-27
One Hundred and Seventy
six Transactions Recorded
During Last Six Days.
SEVERAL SALES IN
BUSINESS SECTION
Loans Shrink Nearly $3sO,OOO.
Rate Is At Less Than
; 6 Per Cent.

A new record for 1912 in the number
of realty sales closed in six days was
hung up by the brokers during the
fourth week of April, when they sue
ceeded In completing 176 nsactions.
The years record for single days
business was also equaled during the
week, when on Wednesday thirty-seven
deals reached the record stage An in
crease of six sales per day is noted in
comparison with the activity of the
preceding week. and the record for the
corresponding period of April. 1911, is
surpassed by eighteen transactions.
Wednesday was not the only day this
week that the real estate agents were
busy. Both Thursday and Friday wit
messed the closing of thirty-two sales,
and on Tuesday twenty-nine deals were
Icompleted There were twenty-six sales
closed Monday and twenty on Saturday.
The days average for the week was
twenty-nine sales.
Few large deals either in the number
Of lots involved or in the amount of
money invested were closed during the
week. The sale of single lots predom-
mated. There were 294 lots and par
cells of real estate included in the busi-
mess of the week. Outlying suburban
lsections led the market with total of
urban district ran almost a dead heat,
the former winning second place with
,seventy-three lots conveyed, as against
seventy-two lots sold in the latter dis
trict.
Property in the southeast was in good
demand, and a total of twenty eight
lots changed owners there. Sixteen lots
were transferred in the northeast and
three in the southwest.
Business Property Sold.
Several sales were completed this
week in the business section, the most
interesting involving the Postal Tele-
graph building at 1345 K street north
west, which was ADVERTISED for sale
at auction several months ago and no
satisfactory bid received. The Stone
heirs, who owned the property, have ef-
'fected an agreement by which certain
interests were bought up by the other
heirs at valuation of 100000 for the
property.
The United States Trust Company,
which recently took over the property
of the Merchants and Mechanics Bank,
including the northwest corner of Sew
enth and G streets, has added to it's
holdings by acquiring the adjoining
property at 7O7 G street northwest. The
consideration for the purchase Is not
disclosed. Hugh Wallis sold during the
week premises 1927 New York avenue
to James Sharp. The latter sold to
Flora Z. Davis the property at Gil
Twelfth street northwest for a nominal
consideration. Premises 4S0 Pennsyl-
Ivapia avenue northwest also figured In
the weeks record as being conveyed to
IThekla Haas.
The increased activity displayed in
the sales department of the realty
business was not shared this week by
the loan market. A shrinking of
nearly $sSo,O00 is evidenced in the
lfigures for the week as compared
with the total of loans for the pre-
ceding Elk days when the million
mark was passed. The exact figures
for the weeks loans was $629.923.31,
borrowed on the security of 1876 lots
at on average interest rate of Sc per
cent.
! Dearth of Large Loans.
There was a dearth of large loans
this week and the absence was seri-
ously felt in the market. The only
loan of any proportion was for
S175.000 borrowed by Harry Ward
man and Thomas Bones for the
building of their new apartment at
Fourteenth and Paramount streets.
The loan was made through the office
This loan aided materially in plac-
ing the straight loans in the lead
of the market with a total of $423,-
042.94. The sum OF all the notes CIV
EN- for deferred purchase money was
S10S,0S0.S7, while the output Of the
building associations was $9S.S00.
' County property was accepted as
security for $352,776.07 and the loans
on land in the northwest aggregated
$1SS.573.24. The record of loans in
125; southeast, $1i,250 and southwest
$11,200.