Evening star., 1933-12-30

among the reSldenClal cOmmunltl
weathered the effects of the depre
comparable size, say observers.
While private building here during
1888 was relatively unimpressive, the
total for the year being only $685.
500, with the December figure esti-
mated, the physical appearance of the
city was materially altered in the last
IL months by a volume of public build
ing that surpassed all previous records
for Federal work here.
Occupancy Status Good.
Uncle Sans projects, including the
gigantic Triangle group Of Federal
structures, progressed steadily during
1888, contributing much to relieve the
unemployment situation in the building
fields and benefitting the building sup
ply industry nationally.
Today the Capital enjoys an oc-
cupancy status in its office buildings
and apartments which is considered
far more favorable than any other
American city of comparable size. In
the larger structures space in many
instances is 100 per cent occupied. Six
months ago, however. vacancies from
10 to 20 per cent were almost uni
VerSally prevalent.
In this encouraging picture the activi-
ties Of the Government constitute
factor of importance. The more than
so Government-owned buildings in
Washington have been filled to over
flowing as result Of emergency oper-
ations of the Roosevelt administration,
such as the N. R. A.. P. w. A., A. A. A.,
G. w. A, H. o. L. c., and others. As
a consequence, many Federal offices
are now housed in private structures,
contributing to distinct shortage at
the present time of desirable private
Office space.
In assessed valuation, District real
estate stands today below the level of
q year ago Assessments Of the District
tax assessor for the fiscal year 1884.
on lar land IL, and Improvements; total 81 81
168 ,252 220, as compared with 81 ,229,-
359,566 for the fiscal year 1888, or a
decrease in assessed valuation Of
$61 ,107,346
The amount of taxation derived from
real estate during the so-called de-
preston years Of 1929 to 1888 re-
manned approximately the same, in the
vicinity of $40 900 900. Assessed valua-
ton in 1892 was slightly under the fol-
lowing year. being si.226, ,ee1 ,e48. on
which $40, 1856 was raised in taxes.
Tax Cut Is Boon.
The reduction in tax rate here dur
ing the past year came as a boon to
realty owners. The difference between
the sl.70 rate of former years and the
$3.50 rate on which tax payments will
be made for the current fiscal year,
will mean a saving to the taxpayers of
the District of S3,330,073, as compared
with the total paid year ago.
Building and loan institutions in the
Capital Increased their assets by s3,177,-
600 during 1888, the total amount in
vested in these establishments at the
present time being $50, $4,000 as COM
1852.
In the number of depositors, also, the
building and loan organizations register
ed a gain of 5000, which, although not
as great as the gain made over the pre-
ceding IL months, is considered gratify-
ing in the face of conditions which
have prevailed during the last year.
Loans for home ownership in the
District advanced by these associations
totaled $4,000 900, and numbered more
than 1000 individual loans. During
1882 more than 5000 loans aggregating
$1,000, 900 we're made.
An analysis of the monthly month
totals for building construction in the
Capital in 1888 reveals that peak of
S1,17l,115 was reached during April.
During that month the major building
project of the year in the private field
was authorized. 1t was the S750,000
power plant Of the Potomac Electric
Power Co., constructed at Buzzards
Point.
March, memorable for the banking
crisis, was the low month for the year,
with total of only s302 $40 in building |
permits being issued by Col. John |
Oehmann, District building inspector.
Totals for IL Months.
Here are the totals for each of the |
January. 1892 ,o8o; February, s515.os5;
March, 1902, $40; April, s1,171,l1 May, |
S649, ITO; June, s583,770; July, S525, 1920;
August, S439,935; September, S468,515;
October, S550,415; November, S588. .235;
December, $450,000, estimated. Total, !
S6,636,590.
The volume Of private building here
in the last IL months dropped to a
lower level than at any time during the
last "a years. In measuring the decline
in valuation of building here, however,
the drop in the cost of building ma
terials and of labor. which reached ex-
tremely low levels during the first half
of the year, must be taken into con-
sideration. The following table shows
the year -by-year totals since 1870
Estimated.
Year. Value.
1910. .........-.- SI6.43d.0 .00o
l..