The Washington times., 1912-08-31
REALTY TRADING OF
SUMNER L|VEL|EST
IN CAPITAL ANNALS
More Than Two Thousand
49, Sales Recorded by
~ Brokers.
AUGUST FURNISHED
SMALLEST SHARE
Total investments Reach $15,-
$4,000, Million More Than
:. Last Year.

Realty trading for the summer of 1912
which practically closed today was the
most active for the season of the year
ever recorded In the history of the Dis
trict A review of the operations of tho
brokers for the past three months shows
that 1000 sales, were concluded this
summer in which were involved 4,S3S
lots and parcels of real estate. The
total Investments In the purchase Of and
loans on real estate for the past quarter
reached s1S,637 900, exceeding by more
than $1,000,000 the investments of The
corresponding period of 1911,
The month of August furnished the
smallest share of the summers business.
During the past month the investments
totaled only 100000 while the trans
actions dropped to 592, in which were
involved only 1903 lots and parcels Of
real estate.
Inactivity Prevails.
Inactivity prevailed during the clos
ing week Of the month The absence
Of many brokers and investors on vaca-
ton, of course, played a large part in
the failure to close many deals which
are pending. A lethargy, however.
seemed to overspread the realty market
during the week, and in consequence
a poll Of the business for the past six
days shows that only 116 transactions
were effected, a daily average of less
than 20 sales.
Despite the inactivity of the sales de-
partment. the past week saw the filing
of the largest deed of trust of the
month. securing a loan of 100000 on the
Arlington Hotel property: This trust.
fl a %ch the P9Gfpa OF badng 2aG
the new hotel has negotiated with the
Equitable Life Assurance Society of
New York. The company transferred
Fl and streets to Adds B. Browne
and Frederick F. Chaplin to secure the
payment of $sOO,OOo September 1, 1922,
with interest at per cent.
Agreement Filed.
Filed with the trust is an agreement
that in the event legislation should be
enacted imposing a tax on mortgages or
deeds of trust, the amount borrowed
should be come Immediately payable
unless the hotel company paw the tax
so imposed The company also binds
itself to take the remaining s1,70O. 900
agreed on, no portion of which is to be
advanced until the local company has
put into the construction of the build
ing $1.SOO.OOO which is stipulated to be
done within one year from this date. in
addition to 100000 paid on account Of
the purchase of the ground.
Included in the weeks sales were 100
lots and parcels Of realty. The outlying
subdivisions were in the lead with sew
enty lots sold followed by the near-ur-
ban with fifty-four lots. In the north
west twenty three lots changed owners
while twenty lots were recorded in the
southeast thirteen in the northeast and
ten in the southwest.
Two important sales in the business
section were made this week. One in
volved the purchase of a portion of the
Gait property adjoining the Victor
building at Ninth street and Grant
Place and the other the northeast cor
ner of Seventh and + streets northwest.
Fred w. and John H. Miller are the
purchasers of the Ninth street property
at $41, ,5S0.42. The price paid by Moses
Goldenberg for the Seventh street bust
ness block is not made public.
The Arlington Hotel loan increased
the figures in the money market this
was borrowed on the security of 1874 lots
at an average interest rate of Sc per
cent.
Straight loans furnished the bulk of
the business with an aggregate of
$1.O45, ,98736. The sum of all the notes
given for deferred purchase money was
$122, ,575.62 while the advances made by
the building associations amounted to
Sal. .020.
The northwest furnished security for
loans aggregating $3.50, ,0l0.42. while the
1913 9l7.56 The record of loans in the
other city sections was: Northeast. $32,
sos; southeast. s8,S75; and southwest
$S275