Evening star., 1926-10-19
EARLY LAND VALUES
IN D. c. DISCLOSED.
Lawyers Research Shows
Realty Operations With
Prices in 1871 and Prior.

Department Of Justice lawyers have
dug up some interesting details ot
,,irly Washington history in their
s>dtcal search Of land titles FOR tle
Federal housing program
The first hi., real estate dealers
here. the researches show. We're Rob
.~lr Morris, The dnuncier of the keNo-
3otion: James treenlcaf of Boston,
l,nd John Nicholson. controller 81
Pennsylvania.
Following eloselN upon their tenure
thip came James Law. a former sec
Ietary to Warren Hastings, who came
direct from India TO Washington.
Reveal Land Valuations.
AT the time of the establishment of
he Federal city land prices ranged
from sec 60 to S21S.S0 an acre-the
sieater part ranging around the ioF-
9ner price.
It has been part OF the reVolu-
4ionary tradition that Morris became
badly embarrassed tinancia llE as re
suit of his operations in beha1f or the
,olonjes. The records uncovered here,
1.ovever. show that he was able TO
enter big deals for land. not only IN
Washington, hut in Delaware, VIZ
zinia Georgia and the Carolinas.
The eventual bankruptcy OF Morris
,r7d bis mariners was due TO the ms
taken theory upon which they oaSeo
fheir investments in southern lalid9'
Below the Potomac they held more
yban G 600 900 acres. In Georgia alone
thev purchased title TO about 2,0oo,-
0no acres. In these investments Ihey
,Iacnd the fortunes they had accufnu-
lated nv land dealings in New YORK
and Delaware.
Suuatters Fail to Buy.
Morris. Creenleaf ana Nicholson
.,,,arated on the assumption ina
.ouatters on the Southern Janus
would be willing to pay heaVlig -
obtain clear titles. The squateei:s, ::
7,oy~aver. showed no inclination IN
IN d,re,+ion and the firm found 1T
saif with an indigestible accumula'
- was at about this time that they
..,to,ad into their Washington deai-
ings, ..,.4e,.s, q will he
,..oaIlad had agreed TO give nan thelA
INA TO the Federal Government eA-
uocting to make their pront from ,3 Ii3e
decreased values which Would result
from the location OF the Capltot nc
rThe Government proposed 10 nnance
q hnliQlIlE ODSA Sl|kciA''
..neda from the sale OF this and
which had been donated 10 H.
eaThese early titles show that iands
a. acreage condition III the. Dlstrlct
- columbia were valued about 20
,,nynds ner acre. This was the Mary
'and mound, worth then about 300
50 that. as stated, land in Nashins-
+on city, prior to 1871, was Worlh
5000 an acre.
Thsmas Laws SpecuIatiOns.
IN his transactions with the orig
,nal firrn. Thomas Law contracted 70
nav for 9.400 900 square feet OF lots
az pence. Pennsylvania currency,
nor foot. At this rate the price per
acre was $217.S0. Law received con.
vexances from the Commissioners OF
the new Federal city for about three
%o,Irths Of his contract. Then the
commissioners, being unable TO Sc
r,lIre further payments from Morris
and his partners, refused to make
11lrther conveyances to Law E.A-
cent for the certifcatiOn OF the orig
iflal bankruptcy proceedings IN
which Norris and his partners We're
involved. very little IS recorded TO
show the transactions covering these
early titles in the District.
tIn q list of those early-day sales
= considerable number of lots appear
AS having been sold to Thomas Law,
but the land records Of the District
al Columbia fail to show that any
deed or certificate was ever given to
law covering his property.
Demands Pay in Specie.
On the back of a paper showing
return Of sales made by the trustee
in the proceedings by Law against
the trustees in bankruptcy of the old
Norris firm, there is a notation that
Law required that the payment for
Inc lots should be made In specie,
but the purchasers tendered uego-
table paper of the banks Of the Dis
tlict at the current rate of exchange.
The court was asked 70 rule as TO
tie form Of tender which should be
accepted. AS there was no record of
lac confirmation of the sale by the