Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-06-06

Land specuiations, Is35--1s37.
There is nothing more interestng-nohing more
philosophical nothing more like history teaching
by exsmple" than to contrast times and seasons with
each other. Take for instance the land speculations
of l635-and 1887. On the 2lst OF May 1886, two
years and fourteen days since, we wrote article,
then published in the Herald, as follows:-
LAND sPEcvLAross-Not long since well educated po-
lshe person. branch of Of the earliest emf
grants this city reside and spend his time agreeaby.
He was in possession OF fortune snug large probably
S66OOO or heeabouts For time he passed life agree
able society mixed in company, moved about like
person leisure. One morning friend OF his fat in the
real estate the fall Of every rock heap of
rubbish on the Island, asked him. would you like to make
small speculation in land know replied the other,
81 am quite ignorant of the value of land" Never mnd
said the friend purchase this lot in the market keep
few months and see how it will come OUT
The gentleman did the what's called Commodore
Chaunceys property situated e Eastern shore OF the
Island Yorkvile about fifteen and cost $4,000 1t
the which sold the other day for $4,000
This the specimens OF the large sums Of
money recently made in specuatons in landed property
The spirit mania rising still higher From the hours OF
~ 70 the public sale room the Exchange crowded
location buyers and sellers Three four auctoneers
in each corner sometimes busy at the mement
lands every part Of the country good bad Indifferent rocks
moun,ais lakes, swanp meadows, auvia selling and
purchasers that like ladies the furniture auctions they
Utmost bid their bids The most beautiful Autographs
the articles handed about Who resist the fine arts
The auconeers of the dealers making rapid for
tunes OF is said he viii clear s6o0oO this year out Of
his commissions, another $4,000 another S25 600, &c &c
high tide, full moon, but take for the The
breaking the cy-a certain the Chamber
Depueor other contingency would change
the couple ofdays This latitude variable.
real estate Maiden Lane street. up town. town,
frx,n
value during the last twelve fifteen Be cautious be
prudent
What is the picture now We will tell About
year ago a company purchased of Mr.. A. Schemer-
horn, farm belonging to him situated in Gowannus
Bay below Brooklyn, for $l00, 600 OF which $4,000
were paid in cash. and bond and mortgage given for
the balance at per cent As completed the
company laid out the farm in streets, lanes, squares,
docks, slips, and every thing" as Master Dogberry
saws "handsome about them" Gowannus Bay
was to be made great port-atown was to be erect
ed-ships but-a charter got-mayor and aldermen
elected-and again as Dogberry says, "every thing
comfortable about Them"
But the revusion came. Land, lots, towns,
swamps, not only were not saleabe, but they were
worth nothing beyond the crop of cabbages you could
raise on them. Things became so bad that the COM
pany called melting What shall we do /? we have
$4,000 10 pay-how can we raise itp' After sleep
ing day and half on the misunderstanding the Wall
street reports of the Herald to her if that wizard held
forth prospect of better times, they shook their heads
and came to this resolution, "let give the purchase
back entire into Mr.. SIS hands-we will lose the first
instalment of $4,000, but We may save the latter,
also Of $4,000"
This proposition was accordingly made to the pro-
prietor. Re shook his head-"Pll stick TO the bar
gain" They stared, consulted the horoscope again,
and then lifting up their eyes, weeping, said" we'll
give $4,000 and all the land, if you will take it back
and cancel The bond and mortgage"
This is now the condition Of the negotiation We
don't know what advice to give in the matter But
at the worst if they TO give the original propre-
tor $4,000 in addison to the $4,000, and then get
back the bond and mortgage, they would absolutely
make $4,000 by the operation. The farm is worth
SIS 600 TO raise vegetables il is high at that quo
tation, besides being much damaged by the compa-
nys improvements as they pretend TO call them.
SO much for the land speculations Of 1885 and
1887. Oh oh oh