The Washington times., 1912-04-20
MARKED RECOVERY
IS QUICKLY SHOWN
IN REALTY MARKET
Depressions of Last Week
Disappear, Followed by
I Big Increase.
PART OF MALONE LOT
GOES TO VIRGINIANS
Richmond Company Pays More
Than Hundred Thousand
! for Place.

with the closing of the sale of the
Interstate building site, at 1919 and 1921
F street northwest, involving nearly
= 100000, the purchase of the Malone lot,
at First and M streets northeast, at a
price exceeding 100000, and with the
total of loans surprising the million
dollar mark, the third week of April
shows quick recovery from the de-
preston that obtained in the realty
. market during the preceding week.
~ Material increases are shown this
week both in the volume of trading and
in the number of transactions closed
/. A total of 423 lots and parcels of real
! estate is included In the 140 sales COM
pleted in the past six days.
Il One Of the most interesting sales of
the week was closed yesterday when
Edmund Waddill, jr., Edgar Allan, jr.,
and W. w. MILAN, trustees under q
court order, transferred portion of the
2 Malone lot, at First and M streets
northeast. to the Columbia Warehouse
Development Company for Sill, 2,424. 10.
The property embraces 6s,636 square
feet, ana the selling price is s1.65 per
square foot.
8 Will Improve Place.
! The incorporators of the company
which purchased the lot are young
business men Of Richmond, Va, and the
"details of the sale were closed in that
city early In the week, Trustee MILAN
visiting Richmond for that purpose.
The new owners intend to improve the
property and place it on the market.
The land just sold is a portion Of
square 673,. which was acquired many
years ago by Senator BILLY" Malone
of Virginia, as q site for a new Govern
ment Printing Office. The failure of
Congress to select this site was a Bit
tier disappointment to the Senator. After
the death of Mr.. Malone a part Of the
Square was acquired by Judge Edmund
Waddill and Gen. Edgar Allan, whose
will made necessary the equity suit in
virtue of which the sale was made this
week.
Y Spring activity reigned in suburban
site selling and the brokers were able
TO dispose of 233 parcels in these sec
tions. The northwest ranked second In
of seventy lots sold to its credit, The
northeast nosed the near-urban distrlct
tout of third place this week. showing
'forty-one lots transferred to thirty-nine
In the near-urban district. The south.
east was near at hand, with a totatl OF
thirty-seven sales. Three lots were
transferred In the southwest
Hotel Winston Sold.
( Other notable sales of the week In
cluded the transfer Of the Hotel Win
ston, opposite the Capitol on First
street, to the Stonemor Realty Company
and the conveyance Of tn bank buildings
of the Merchants and Mechanics
Bank, at Tenth street and Pennsylvania
avenue. and at Seventh and G streets
northwest, to the United States Trust
Company. Mrs. Mary A Siccardi bought
premises III Eleventh street northwest
and Hugh J.Fegan acquired an eKten'
sive frontage on Sixth street northwest
near E street, including a vacant lot
and two dwellings. The purchase IL
supposed to be in the interest of the
Georgetown Law School, of which Mr.
Fegan is secretary. and the rear Of
which the property adjoins.
The largest loan recorded this weel
was for 0,0O0 borrowed by the Inter
state Building Corporation from tht
New York Life Insurance Company. Tht
loan is payable April /. 1917, and bear,
interest at 8 per cent, which is to bt
reduced to 5h per cent when the build
ing Is completed.
The exact figres In the money marke
the security of 216 lots at an average
interest rate Of 5h per cent. Straigh
loans comprised nearly two-thirds o.
the business. with a total of $S45, 4s7. 81
The sum of all the notes given for de
ferred purchase money was $236, 1888. SO
and the building associations advanced
to members $125,400
The Interstate building loan placed tn,
northwest in the lead of the section
this week with an aggregate of $52S, ,43O
Land In the country was offered a.
erty was encumbered to the extent o
$l67 $780, and the loans in the othe
sections aggregated $40, 400, in the south
east, and A,775 in the southwest.