The Washington times., 1915-07-17
NEW REALTY RECORD
REACHED FOR JULY
Hundred and Sixty-Six Sales
Closed During Week, and
$1,5OO,OO0 Loaned.

A new record for midsummer activity
In real estate was established In the
week ending today. brokers completing
166 sales. involving 30 parcels OF realty
and closing loans aggregating more than
81. 500 900. Not since 1911 have so many
sales been effected in mid-July. and then
the loan market figures did not exceed
July 1914 there were 1S9 sales, In 1913
only 157 deals we're completed. ana III
1912 the brokers recorded 1853 trades.
The feature of this weeks business
was the purchase of the Chase property
at Thirteen and half. d and e streets
northwest, directly east of the Municipal
building. The purchase by the Federal
City Construction Company included an
be improved by an office building
Nearly $500, 900 Is involved in this trans
action. The company paid s2s5,ow ior
| the land and placed two deeds OF trust
| erection of the large office building,
which has been leased to the southern
Railway Company. and the other 10
secure Plimpton B. Chase soso.oo OF the
deferred purchase price. The first Is to
| the Union Trust Company, to secure an
advance of $4,000 made by the Fidelity
Trust Company Of Philadelphia. por-
| tions Of which are to be repaid semi
annually in from six to sixty months.
with interest at 6h per cent. The de-
ferred payments to Mr.. Chase are to be
made in ten years. with interest at
The Southern Railway Company has
leased the building for term Of 10 years
! from March /, 1916. for which 1t agrees
to pay 10000. The railway company
4 reserves the right to renew the lease In
1926 for an additional term of ten years
| at the same rental Frank p. Milburn,
president OF the construction company.
and A. NJ. McLachlen. secretary. signed
the lease, which was recorded yester-
day.
Activity Distributed.
The weeks activity has been well
distributed. Yesterday was the busiest
day. having thirty-seven sales to its
credit. followed closely by Mondays
record of thirty-one trades. There
were twenty-eight sales on Tuesday.
twenty-five on Wednesday, and twenty.
of twenty-five deals was the poorest
| showing of the week.
AS BELTS the season. the outlying
suburbs led the weeks trading with
ninety-six parcels changing owners.
The near-urban district ranked second
with sixty lots conveyed. followed by
the northwest with forty-nine lots
transferred. There were forty-three
| lots sold in the northeast, sixteen In
the southeast. and six in the south
west.
The business section also furnished
the second largest transaction of the
|
property at Fourteenth and street,
northwest for $4,000. The next highest
sale was an apartment at 1s4o Biltmore
street bought BY Arthur A: Birnsy
stamps was ssi 900 Mr., Birney trans
ferred about forty acres in Chllum
Castle Manor. near the District line.
to Mr.. Simmons for $50 900
Two other business Properties chang
ed owners during the week William
B.. Mason bought for $4,000 the prop
erty at 1877 Connecticut avenue north
Klopfer became the owner of 733 Thir-
teenth street northwest by purchase
) from Ethel NJ. Rutty for s24Ooo. Mr.
Klopfer conveyed to Miss Rutty the
Corcoran street, at n valuation OF
$4,000
Residence Brings $4,000.
Horace A. Dodge sold his residence
) log B street northeast, near the Capitol
: grounds. for $4,000. William G Green
was the purchaser. The premises, 73T
North Capitol street northeast was
bought by Mary ]. Hollohan for 8, 100
; The highest total Of the year FOR q
weeks operation in the money market
was reached during the last six days
The exact figures in loans for the week
we're N.525,4so4+. This sum was Dor.
average interest rate of 81 per cent.
Straight loans continued to lead tn.
) market, displaying an aggregate Of
l.n7.903.62. The sum of all the note.
given for deferred purchase money wa,
5 1897 5s6.S2 The building associations ad
vaDced to members $4,000.
= The loans placed on the Chase prop
: erty sw,lled the total for the northwes
section to sl.N4 SO. Land in tn
county was encountered to the extent n
S S@ 1884: The record of loans in tn
: other city sections was: Northea a
t aS,7f 81: southeast, $l1,TO. and south
r. | west. S3,50.
e Tor, k0uoI Doe;Lo-o.