Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-08-06


wv " rorcoran founded it," Mr..
Kalbfus replied. ~
1T is home for helpless old women
isn't it,
Yes"
Outlines Another Deal.
MIR. kalbfus continued:
MY next real estate transaction IN
yolved the purchase. in connection with
Joseph C. Ramage. of lot l. block n, kalo-
rama Heights. the present description OF
which is lot 500. square 200. It contains
oar, square feet 1t was bought July
6. 1908. from Allan r. Walker; the deed
transferring 1t was recorded July i, IsS
Elizabeth B. Kalbfus, my wife, taking
title Mr.. Ramage and myself were each
To have a half interest in this property
and Mrs Kalbfus held title for US am
told by Mr.. Walker that he had bought
this lot from the j. Donald cameron
estate. We bought it on the basis Of a
fraction more than s. cents per square
foot. at a total cost of 81, 46625. At the
time of the purchase we borrowed.
through Leonard l.. Nicholson. the sum
of $500, securing that sum on this
property: the lender was the trustee
Of the Louise Home.
Usual Course of Business
course of business in Mr. Nicholson's
office. in connection with Mr.. William
Corcoran Hill. and had no dealings
whatever with the lender. The purchase
of this property required sS26.25, which
amount was increased by costs OF exam
ming title. commission on loan. and the
like to 5000. Mr.. Ramage contributed
$500, and | contributed $3.50 to the
amount thus required
This was one of several tranSa ctions
in which Ramage and myself were jointly
interested, in some of which he found the
necessary funds. and in others of which
| did Up to December. 1910. title was
held. as already explained. and | then
transferred all of my interest in the prop
erty to Mr.. Ramage in connection with
settlement of accounts between us. The
real estate agent through whom this
piece Of property was purchased was
Allan f. Walker, the seller, and L. l..
Nicholson.
This property, lot l, block "a. kalo-
rama IIeights now lot 500. square 1902,
has been assessed follows: Assess
ments Years 1866. $500: assessment
years. 1869. $3.50: assessment years
191l-lo S4,7::S
BUYS Three Lots.
My next real estate transaction in the
District involved the purchase of lots l.,
CLIO anu OIL III S4udIe -c-p HIS
erty was formerly carried on the plats
lots u and Is, and a small irregular
piece. This property was bought from
Parker and Julia Mann March 2s, 1907,
and the deed transferring title from them
to myself was recorded April l. 1907 1t
contained 15,3l2 square feet. was bought
on the basis of - cents per square foot,
for a total of S3,SoS. The purchase was
made through the real estate office of
j. B. Winner.
This purchase was made for the joint
account of Joseph c. Ramage and my
self, each taking a half interest. In
der to make the purchase We borrowed
on this property $4,000, this loan being
made by the trustees of the Louise Home
and secured by deed OF trust dated
March 10. 1.O7 The loan was effected
William ,orcoran Hill. | had no direct
dealings with the lenders. All of the
cash required for this transaction
amounted to sS33.223. which / contributed.
Lots SIS and s21. square 2526. were
sold December 6. 1910 to Peter A.
Drury. These We're two of the lots of
the purchase of three. and these two
contained 1910 square feet. Drury
bought this property on the basis of
$3.50 square foot for total of $10.6O5,
ness on the property. This sale was
made direct
Sale Made to Conrad Becker.
Lot T. the third of the three lots in
volved in this transaction, was sold April
2S. 1911. to Conrad Becker on the basis
of $1.32 per square foot, for So 740, this
lot containing S,262 square feet. The real
estate agents through whom the property
was sold to Mr.. Becker were the +. Fl.
Smith Company, Allan E. Walker & Co.
and William Corcoran Hill.
"On the purchase i'm March. 1907. and
the sale l Melted profit of $4,000"
Mr.. George asked about p A. Drury
and Conrad Becker.
You know that Mr.. Drury refused
81 80 foot for the property You sold
him for 81 SOP
Il think So
Representative George asked about as
sessments on some of the property 1t
was assessed. said Mr.. Kalbfus, at 40
cents at the time he was trying to sell it
for go cents a foot, and later he sold it
for 81 so.
A street put through ION paper" en-
HANGED the value Of the property. il was
stated.
Mr.. Johnson asked Mr.. Kalbfus If he
had anything to do with preparing the
bill which was enacted to put the street
through.
NO. SIR
wants D1nerence Explained.
How do you reconcile an assessment
OF 40 cents with the sale price of $1.5O?''
asked Representative George
Il don't try to reconcile it. l was try
ing to sell it for so cents. l offered it to |
Mr.. Mckenzie and said it would be worth |
more
why did you say it would be worth |
more If it was assessed by you at 40 /
cents?" asked Representative Caraway
Il thought he could get more than the |
usual interest If he bought it and held on |
to it.
Mr.. George made point of the state |
ment that both Mckenzie and kalbfus |
knew of the assessment and the value |
of 60 cents a foot.
when you sold this to Mr.. Drury did
you get more than 1t was WORTH asked
Representative Johnson.
lot N,,,t<~