The Washington times., 1912-08-17
Fifty-five Transactions in
One Day, and 1SO for
Six Days.
ADVANCE IN INTEREST
RATES is ALSO NOTED
Six Per Cent Loans Prevalent,
Making Average Higher Than
In Month Of July.

Fifty-five transactions closed In a
single day! This not only smashed ali
previous records for a summer davis
activity in local real estate, but set a
new mark for 1912 for days OPERA
tions. August 13 is now the banner
day of the year. Such business for the
season Of the year and in the face of
the discouraging outlook in real estate
due to the efforts of Congress to pass
the seven-year-tenure act over the veto
OF President Taft may surely be con-
sidered phenomenal
The brokers seemed to have been d.
vided on the question of the extent Of
harm the proposed action of Congress-
would have on real estate, but all were
agreed that there was nothing in the
proposition favorable to increased ac-
uvity In realty selling. Last Tuesdays
business exceeds the record of July IL.
1917, by eight sales, an increase of near
y 70 per cent over the latter's high
mark of forty-seven sales effected.
Records Are Smashed.
The entire weeks business was con-
sidered excellent for August, and has
not been surpassed since the first week
or June, when 1S1 sales were closed by
the brokers. During the past week they
succeeded In effecting 1S0 transactions.
The best weeks business In July in
volved only 172 trades. While August.
1911, set new record for midsummer
activity, the highest number of sales
closed in any one week during that
month was l5S, This is twenty-eight
sales behind the business of the past
six days. Should the activity continue
throughout the remaining two weeks of
the month, Of August. 1912. will far sur
pass Its predecessors of previous years.
involved in the 1S0 transactions of the
week We're, 296 lots and parcels of real
estate. Suburban activity continued dur
ing the week. the outlying section lead
ing the market. and the near-urban dis
112 parcels sold in the former section,
and sixty-eight lots changed owners in
the latter.
Northwest in Third Place.
The northwest was in third place with
hfty-eight lots conveyed, being followed
by the northeast. with thirty-four sales
to its credit. There were eighteen lots
sold In the southeast. and five in the
southwest. BE-. ..
Probably the largest sale of the week
in the business section involved prem
ises 400 and All Seventh street north
VI
two properties were conveyed by James
M. Carlisle, executor. to Alice T. Con-
nally. The consideration was not named
in the deed.
Premises 1925 @ street northwest also
figured in the record of transfers for
the week. Alfred q. Gross conveyed
to Fred w. Plugge all his interest In
this property, including an improve
L.. he
erty changing owners this week in
cluded premises 433 Ninth street north
west. and $40 Tenth street northwest.
The former was purchased by Abraham
G. Mayer from Thomas H. Hall and
transferred transferred by Mr.; Mayer to Henry, s.
Company bought the property at slO
Tenth street northwest from Joseph
Mathy. The considerations for both
sales are not made public.
An advance of $4,000 Is noted this
week in the loan market over the f1g-
ures for the preceding six days. The
total Of loans for the week was 1885,
S4Ia. This sum was borrowed on the
security of 3H lots.
Advance in Interest Rate.
The prevalence OF per cent loans
this week caused an advance In the av-
erage interest rate for the week even
over last weeks figure, which was one
point higher than the prevailing rate
of July. The average rate this week
was ST per cent.
The bulk of the weeks business in
the money market was In straight
loans. which aggregated $S2o54S.6o The
sum of all the notes give for deferred
purchase money. was $93,5042l The
building associations advanced to men,
bers, $72.300.
County property proved the most at
tractive as security for loans this week,
furnishing pledges for $2S3. 1904. Land
IN the northwest was encumbered to the
extent OF $110,097.47. The total of loans
In the other city sections were: North
east. $f7,130; southeast, $4,000. and
southwest, $1,000.