The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1915-11-11

ment of the northwest corner of Six
teenth and Church streets. Mr..
| Brownies statement showed that this
lot was assessed for s5.693 and sold for
s20.500.
THE above SALE" said Mr.. Bradley.
included two adjoining lots not men,
toned by Mr.. Browne. The figures
given by him are incorrect and the
property sold close to the basis of as
sessment. S17.i49."
The next case taken up by Mr..
Bradley was that of the sale Of 1907
G street northwest. According to Mr..
Brownies statement. this property was
assessed for S44.460 and sold for $751;
oo0
These figures are correct" said Mt.
Bradley. but this was a forced pur-
chase. The property was adjoining and
is now a part OF the Palais Royal. one
OF our largest department stores.
Another case contained in Mr..
| Brownies statement was that Of the
southeast corner OF Eleventh and II
streets northwest. Mr.. Browne showed
that this property was assessed for
s15.6S7 and sold for $4,000.
These figures are correct" said Mr..
Bradley. Note that the sale is within
6 per cent OF the basis OF assessment.
s23.5sO."
added Sales Together"
The case of the sale Of T26 Eleventh
street northwest was next considered. Mr..
Brownies statement showed that this
property was assessed for $l3.sl2 and sold
for SIS. no
These figures are incorrect" said Mr..
Bradley. According to NJ. A. Leese.
Mr.. Leese paid $4,000 for that proper
~. II was sold for 1880 and then
for $1,000 in the same transaction. the
difference being the brokers' commits
sion. Mr.. Browne actually added the
two sales together"
Mr.. Brownies statement showed that
1905 c street northwest was assessed
for $3.50 and sold for $4,000.
This is true statement" said Mr..
Bradley. but It was a forced purchase.
This was another transaction in the en-
lsrgement OF ths Palais Royal"
Mr.. Brownies statement showed that
lots "a and "a in square 81 were as
'sessed for 1876 and sold for sg7,Soo
This Is a misststement as TO assess
lment." said Mr.. Bradley. The correct
figure of the assessment Is 49, s5, which
takes the basis of assessment o4.SI7.
greater than the sale Christian Heurich.
the purchaser. said that the property
. was bought for special purposes which
has not materialized. II Is now assessed
at ss2,0T5 on an assumed value OF sl25.-
H."
Mr.. Brownies statement showed that
3l6 Seventh street was assessed for
sH.136 and sold for $500.
"A true sale and another Seventh
street case" said Mr.. Bradley.
Mr.. Brownies statement showed that
No $40 Seventh street northwest was
assessed for sSO.S2s and sold for 1880.
Mr. Bradley's comment on this was:
This was a forced purchase. The
property Is a moving picture theater
and was purchased in self-defense by
the owner of the adjoining property,
the Hecht department store"
Mr.. Brownies statement showed that
lots to and lot II, in square 30, be-
Ing lots on Twelfth street. which were
acquired for an extension of the Ra-
leigh Hotel. were assessed for SO, 20e and
were bought for s75655.
"A forced purchase. as Mr.. Brownies
own testimony showed was the COM
ment Of Mr.. Bradley.
Didn't Intend Investment.
According to Mr.. Brownies statement
the Home Life Building. at the corner
! Of Fifteenth and G streets northwest
was assessed. for the ground. sso.6+o: for
the improvements $4,000: a total OF
l6O.64o. 1t was bought for ssls,ooo
The assessment on the building was
Tully IWO-InlrOs tne value OF tne
improvements, according to the Browne
statement. making the value OF the i'm
provements $4,000. leaving then the
ground at slse.0oo or about 800 foot,
compared with the assessment on the
} ground OF SS0,640. which Is about 10 per
! cent of the price paid for the ground
Mr.. Bradley's comment on this was as
follows:
This is a lot improved to best ad
: | M nj.
fetal of the bank which purchased the
property, made before the Henry George
jr.. committee, was: We would not have
, bought the property for an investment
This bank has since retired from bust.
ness. During the first six months tn.
: disbursements were sl,1sO greater thar
: the income"
Mr.. Brownies statement showed that
l024 Fourteenth street northwest. at the
= southwest corner of Fourteenth and
streets, was assessed for s21.372 and sold
for $4,000. Mr.. Bradley's comment or
, this was:
This was not q sale. 1t was a trade
in which the purchaser regarded the cos
as s3e,5oo. The property has since solt
. for So, 500
) Mr.. Brownies statement showed that
1131 Seventh street northwest was as
sessed at i.1e9 and sold for $4,000.
|, This was not a sale" said Mr. Brad
ley. 'Tt represents the other side of the
transaction. in which 1022 Fourteenth
street was involved. This same property
is previously quoted as having sold for
$4,000"
II Mr. Brownies statement showed that
the northeast corner of Vermont avenue
and K street. lots II, Il. and Il, in square
|. nj, vas assessed for 33OS; that the prop
a erty carried a deed of trust Of $4,000. in
. dicating. conservatively. the valuation OF
not less than $4,000. Mr.. Bradley's CON-
ment was this:
Il "a purchase money trust distinctly
mot representing conservatively a val
uation of not less than s150,00o.' Pre-
viously in the same year the property
was purchased by 2. e. Jordan from
Il the heirs of the late Senator Proctor
for the sum of 100000. The basis of
1.-THE last trade was $4,000" "
4 Mr.. Brownies statement showed that
i 1909 F street northwest was assessed
at $4,000 and sold for $4,000. Mr..
lBradley's comment on this was:
"A true sale. It 10 Ballantyne's Book
Store"