Existing comment:
On April 26, the Evening Star reported the purchase of 375 acres to be resold to Freedmen.
R. M. Hall sold yesterday, at his Real Estate Exchange, 71 Louisiana avenue, to John R. Elvans, Esq., for $52,000 cash down, the large farm of Mrs. Barry, adjoining the Insane Asylum, and next to Uniontown 375 acres. This, including other sales, makes over $100,000 worth of property sold at Mr. Hall's exchange during the present month. We are informed that this purchase is made by Mr. Elvans, in trust to General O. O. Howard, Senator S. C. Pomeroy, and himself, as trustees, for the purpose of dividing the Barry farm into one or two acres, to be sold on a credit of three years to deserving freedmen, at a maximum price of $125 per acres, in order to test the capability of colored farmers to be self sustaining, when offered the incentive of ultimate land-ownership. The proceeds of these sales and the interest, to be appropriated to the use of freedmen's colleges in the District of Columbia, Virginia, and North Carolina, in equal proportions, in accordance with an act of Congress. |