The Washington times., 1916-07-22
Trading Reaches One Of the
Highest Points Of the Year.
582 Lots Involved.
SUBURBAN PROPERTY LEADS
Site for New Million Dollar
Apartment In Upper Six
teenth Street Is Acquired.

Nearly 600 lots ana parcels of real
estate changed owners during the third
week Of July. On two OF these lots.
which comprise 5000 feet In the aris-
tocratic section of upper 16th street,
will be erected q seven-story apartment
hotel to cost 100000. Another 'ot sold
BY am apsrtm en wbieb 1es Comma ndSS
price of s215.0 Still another lot has on
II large building under rental to the
Department OF Agriculture and which
L. given an estimated value Of $4,000.
The loan market again exceeded the
million dollar mark.
While the volume OF trading reached
year the brokers did not conclude as
six days. During the past week only
12s deals were completed. In which were
involved $50 lots.
Tuesday Leads Week.
Tuesday was the busiest day of the
week having 80 sales to its credit but
was followed closely by Thursdays
record Of 30 deals. Trading declined
during the other days of the week,
Friday showing only 10 sales, Monday
Is and Wednesday l6. There were 10
sales reported on the 'half-holiday Of
The bulk of the weeks trading was
IN the outlying suburbs which were
the scene OF the transfer Of 4s5 par:
second with 40 lots conveyed followed
by the northwest with 80 lots to Its
credit. There were Is lots sold in the
northeast. g in the southwest. and Q
The feature OF the real estate mar
ket for the. third week of July was
the acquisition by Harry Lee Rust Of
a one-third interest in the $4,000
square feet OF ground at Sixteenth
and Crescent streets on which Is to be
erected the million dollar apartment
to be called Meridian Mansions. The
ssss oSnsa 81 t ssonsls
The owners secured q loan Of $500; 900
on the property from the Fidelity
Trust Company. OF Philadelphia: and
Company, to hold title as trustee pend
Ing repayment Of the money.
Champlain Apartment Sold.
The Columbia Properties Company
figured as the purchaser OF two of
the most important sales Of the week.
Tho company acquired the Champiain
west from Kennedy Brothers. at a
price indicated at $215.O00. Kennedy
Brothers purchased the property last
week from Redield PROCTOR. The Co
bought from Sidney Bieber. the prop
erty at 221 Thirteen and-a-half street
southwest, occupied by the Depart
ment OF Agriculture. The price Is
indicated by the revenue stamps at
Leonard ]. Mather Invested $4,000 in
the purchase Of premises 1871 Irving
street northwest from Kennedy Bros.
Wilton ]. Lambert and Peyton Gordon
bought the house at 1916 S street north
west. The price is not stated. George
r. Linkins sold the dwelling 81; Penn
sylvania avenue northwest for 5000 to
Leverett NJ. Kelley. Mr.. Kelley sold
house at A2 d street northwest to
at 5000. according to the revenue
stamps attached to the deed.
Loans Exceed Million Mark.
For the third time In the past FIVE
weeks the loan market exceeded $780,
900. The exact figures in 10 ans for the
third week OF July were $l,06S. 4iS.4i
This sum was borrowed on the security
OF "a lots at an average interest rate
Of ST. per cent.
The bulk Of the loans were of the
straight" variety. which showed an
aggregate Of 1913. 725. The sum Of ali the
notes given for deferred purchase
money was T426s.A. The building as
sociauons advanced to members $50. $50.
County property returned to highest
favor as a basis for loan security. this
week being pledged for a total Of 1884,
0O.D. Land In the northwest was en-
numbered to the extent of N2l SIC %.
Tho record Of loans In the other city
sections was northeast, 81, 900; south
east. $3.50. and southwest. $500.