The Sun.
London, England, 1866-12-19 00:00:00

THE AMERICAN PRESS.

Probably the most remarkable of the financial
movements now in progress in this city is that in
real estate. People are buying buildings of all
kinds, but dwelling houses in particular. The in-
quiry for residences of the better sort is very brisk.
it is said by those who know that more real pro-
perty has changed hands during the past month at
private sale than in any similar period since the
beginning of the war. The feature of the business
which will attract most attention is the increased
price asked and obtained for the property disposed
of. A rise in value was not anticipated. It is
quite true, however, that rates have generally
gone up, and the amount of the increase
varies, according to the estimates of the real
estate men, from five to ten per cent. to forty
per cent. The comparison is with the prices
of a year ago ; but there is, of course, no ab-
solute standard. Nearly all the agents who have
had property for sale for several months are forbid-
den to sell it at former prices, the owners declining
to recognise the offers they made last year, or in
the early part of the year ; and, in many instances,
the agents cannot, they say, guarantee rates from
day to day. There are various causes for the
excitement in regard to real estate. The recent
depression of general trade here and in other parts
of the country has tended to unsettle the public
confidence concerning the financial prospects of the
future, which was so manifest a few months ago.
The stagnation of business is supposed by some
persons % indicate a change of values at an early
day, and attention is directed to real estate as a
comparatively safe basis of investment. These
persons think that, although the prices of real pro-
perty are high, the decline cannot be so great as it
may be in other kinds of property. The fact that
real estate in good locations has risen to double or
triple its former valuation does not deter them from
taking it freely at rates that good judges consider
no criterion of its worth. The great cost of putting
up buildings now has its full share of influence upon
these persons, and they reason that any property
which can be obtained at less than the present ex-
pense of construction is necessarily cheap. They
take the risks. There is at the same time a willing-
ness on the part of a large proportion of the
property owners of the city to sell ; ani they
often get prices considerably above thir expecta-
tions. Builders are very active, and they will
make this year probably two thousand houses,
stores, &c., and most of these not built upon
private order are put in the market and sold. The
transactions in real estate are in a great measure
speculative. Operators are busy with their money ;
and some of them are making quick and heavy re-
turns.—New York Evening Post.
The intelligence that a second telegraph line has
been completed to California will be received by
the business community with more than ordinary
pleasure. The new line extends to Denver City,
Bridger's Pass, and is continued over the old over-
land stage route. Thus, there are two lines of tele-
graphic communication with the Pacific, and by
that means we may always expect to receive direct
and speedy intelligence. The construction of a
branch line from Montana to Salt Lake City
will assist in keeping us advised of affairs in the
Mormon territory, from which, before long, we may
expect some trouble. The telegraph lines are now
connected with the principal mining districts of the
West, and a most important national interest is
thereby afforded free means of communication with
the centres of capital and business. In a few years
the amount of communications sent over the Pacific
lines will be tremendous. The completion of the
Pacific Railroad will give occasion for numerous

despatches between the East and West. The
country between, will be settled more thickly than
it is at present, and there will be of necessity much
local business. By that time may be that two
lines of telegraph will not be sufficient for the
speedy transmission of messages, and others will be
necessary. Indeed such is the wonderful growth
of the country that even the enlightened and far'
seeing men of the present day are not able to pre;
diet the vast changes which must take place.--
Philade/phia Inquirer.

0 OUN TRY MARKETS.

LEEDS-TUESDAY.

Moderate arrivals into Goole this week. The trade
to-
day is rather inactive, but full prices have been obtained
for good qualities of wheat. Barleys met a slow sale, and
s per qr. lower. Beans also is lower. No alteration in
other articles.

Average prices: Wheat, 59s 3d; barley, 44s lid; oatA
26s 21d.

LIVERPOOL—TUESDAY.
To-day's market was fairly attended, and the tone of
the trade was somewhat easier than last Friday. Wheat
was in good request at previous rates. Flour steady, and
unchanged in value. ludian corn in fair request, at ft,ll
prices. Beans and peas dull. Oats and oatmeal at barely
late rates.

that
been