The Washington times., 1914-01-10
MORE THAN MILLION
IN SALES OF WEEK
Shoreham Transaction Ranks
Second in Size of Transfers
in District History.

Realty operations IL the opening
DAYS of the new year were noted for
quality rather than quantity. While
the brokers during the last six days
closed only 112 sales. one OF these
involved a consideration in excess of
81 100000. Another sale of the week
approximated 100000, and third
deal vas closed at the price of S12O.-
coo.
The Shoreham transaction complet-
I'd yesterday ranks as one of the
largest transfers in local realty his
tory. The exact price paid by J. MaurE
Dove to Levi p Morton, former Vice
President of the United States. for the
property is not definitely announced.
Mr.. Dove gave a deed of trust 10
Mr.. Morton to secure deferred pay .
nents OF the purchase money. aggre-
sating SS50.0o0. The American Sc,
Curity and Trust Company is named
as trustee. under this trust. which
Jrovides for annual reductions on the
principal of about $4,000. The pal
ance of $565,000 is TO become due IN
October. 1922.
Is Second In Size.
The trust is the second largest ever
given in the District on an individual
holding Of real estate. The largest
irust was for 81, 600. .GOc. placed on the
Riggs Building. at Fifteenth and G
streets northwest. A trust for 5000
zoo rs recorded against the Raleigh
Hotel property and the first incum-
brance on the Southern Building. OPP
posite the Shoreham. is for Ssoo,OuU.
The Glover building at 14l9 II street
northwest was the second large transac-
ton of the week. Henry S. Rch' OF
Marietta, Pa, sold this property TO
Harry Wardman. The consideration
stated is nominal, but the deed recited
an tncumbrance Of Sl15.O00 on the prop
erty. Mr.. Wardman placed q trust Tor
$4,000 on the new purchase
The large building at 464 and 400
Louisiana avenue northwest was con-
veyed to the Capital City Benefit So
ciety this week from the National Capt.
tai Investment Company at a VALUATION
Of $4,000. The building was the former
home of the District governmnet, and
latterlv was occupied by a branch OF
the Department of Commerce.
Big Transaction.
Another bushes property sale OF the
week involved premises -732 Eleventh
street northwest. William J. Wonder
Eeide purchased the property from
Harry G. Laycock. The consideration
Is not made public.
Alease was fled during the week
caliing for an aggregate rental OF
soc, ,4s1.S9. The lease involved premises
If23 to l4J7 Pennsylvania avenue north
west, rented by the Childs Company
from Thomas b. Love, of Fairfax, Va.
The term of the lease is for tWenty-one
Eears ending July 81, 1894. Rent is 10
be paid in monthly installments Of
SSgT.47 on the first day of each month.
Involved in the weeks total of IL
n r0plG
of real estate. The outlying suburbs
were in the lead OF the market, show
ing q total of 106 parcels conveyed. The
northwest, was in second place with
1orty-fVe lots to its credit. There were
thirty-one lots transferred in the south
east The near-urban district dropped
10 fourth place in the weeks record oi
sales, having only twenty-four lots sold
there. From the northeast were re
ported twenty-three lots changing own
ers. -Four lots were traded in South
Washington.
Pass Million Mark.
The figures in the loan market sosret
high this week, passing the million dol
lar mark The Shoreham transaction
had much to do With this record-break
ing tendency. Even with this loan ex
cluded the market showed an increas
of 50 per cent over the record for tn,
preceding week.
The exact figures for the past 81,
days were Sl,4O5, il313. This sum wa!
borrowed on the security Of 146 lots a.
an average interest rate of SIS per cent
Purchase money notes displayed tbs
largest total for the week aggregatins
Sl,054, ,79l-l3- Straight loans ranked mex
with a total of S3lS,S25. The building as
sociations advanced So 500 to members
The northwest was far in the van as
a basis of loan security this week. The
total of loans on property in the north.
west was 81. .192,925. Land in the county
was encumbered to the extent OF
Si5l, ,S15.l3- The record Of loans in the
other city sections was: Southwest
SJl.3Oo: southeast. S20,45O. and nnrthea ST