Daily American organ. [volume] (Washington, D.C.) 1854-1856, 1855-04-07
Me,c York Stock HarrI.ek.

New York Stock Market.
NEW York, April stocks are firm and ac-
tive. Money is unchanged. Sales at the first
board Of Cleveland and Toledo Railroad, rs cts !;
Erie Railroad, SO 81 Reading Railroad, SO IL /;
Cumberland Coal Co., 81 7-s; N Y. Central Rail
road, %; Cleveland, Columbus, and Cincinnati
Railroad, 105; Louisiana 6's, 90 IA.
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VALUE OF GROUND IN LONDON AND New YORK.
The Builder, London Periodical, recently publish
ed the following with reference to the value of
ground in the central business portions of London
We copy it, and for the purpose of presenting a
comparison as to the relative value Of ground of
New York and London, add some statements re-
specting the land in the business portion of the city.
The figures presented will astonish those who have
never inquired into the subject:
Some land in Finch lane, opposite the Aus
traasan Bank, recently let on building lease, by
the Merchant Taiors' Company, produced about
fl5 a foot as ground rent--the depth being about
seventy feet The new buildings on the south side
of Cornhill, recently rented by the Mcssrs Savory
and the County HreOlfice, are subject to ground
rent of fl 200 per annum The frontage is about
ffty-four feet, and the depth eighty feet; and cal
cuating as in former cases, lat the rate of thirty
years purchaser the cost per amounts to
f47O,o 900. Again, the block of buildings called
the Royal Exchange Buildings, occupying an area
of from 1000 to 5000 feet, produced gross rem
tai of 100000 year. Travelling westward to
New Cannon street, piece of land opposite the
triangular plot adjoining St. Pauls, containing about
1890 superficial feet has been let at ground rent
FL $50 year, which, at 80 years purchase, produ-
ces about f460,000 an acre. To cap them all,
however, we must go back to the plot of ground
at the northeast corner of Thread-neeedle street
and Finch lane, belonging to Mr.. Alderman Moon,
the present Lord Mayor, which, report says, has
been recently let at ground rent of FL 900 per
annum. The superficial area ofthis place is about
1000 feet, and calculating the ground rent at so
years purchase, find its value is at the rate of
9S40, 900 per acre. Much has been written about
the value Of the triangular plot of land between
New Cannon street and st. Paurs. The area of
the plot is ,270 feet, and we understand positive
offer has been made to take it at ground rent Of
e. 600 year, which would produce at thirty years
purchase, the sum named, (e60,0oO,) being at the
rate of fi2o, 900 an acre. We need scarcely give
any additional examples TO prove the enormous
value to which land in the city Of London has
arrived
The above figures are indeed large, but we shall
see whether they may not be equalled and perhaps
exceeded by New York valuations.
The lot corner Of William street and Exchange
Place, 80 feet deep, and ON an average "a feet
IL inches wide, containing 2760 superficial feet,
was sold to the Bank of the State OF New York for
$50, oo0 and 100000 have since been offered for
it. At the latter valuation, per acre, 1t amounts
to 81, SIS, 26l or about 1926, 0S7. The lot on the
lower corner of Broadway and Wall street, 80 feet
by 40, containing 1900 square feet, is held and
may be sold for 100000. This Is at the rate of
50, $3.50 900 an acre, or about f750,000. The lot
corner of Nassau and Wall streets, on which the
Express (newspaper) buildings stand, is 25 feet BY
80, and is held ut $l25, 700, 81, APO, 600 equal
to e500, 900 per acre. The lot on Nassau street,
adjoining the lot on which Messrs Duncan, Sher.
man, & Co., have commenced their new banking
house, is considered abundantly worth 100000,
but is held at $150,0o0. At the former figure, it
being but so feet by 80, and containing 1000
square feet, il is held at the rate OF 3o6 800
acre. For the lot corner OF Cedar and Nassau
Streets now covered by the Law Buildings, 20 feet
by 80, 500, 900, we understand, we're offered re-
Gently, which is at the rate of 81 100000 per
acre.
The lot and building adjoining the custom-house,
lately occupied by the Bank Of the State and Bank
Of Commerce. was sold TO the United States gov
eminent for $4,000. Estimating the value Of
the building at $50, 900, we have $500, 900 for the
value Of the lot the area Of which is 5000 square
feet. The rate per acre is 81 100000 At the re
cent change in the organization Of the Mechanics
Bank, the building and lot occupied by the instu-
ton were appraised at 100000. The building is
TO be torn down, so IL was not counted in the APP
praisement The lot ~ an irregular piece oil ground
of Of about 5000 square feet, and It's vaua.
ton per than two millions of dollars.
With respect to leases, we have but two in
stances 10 report The lot on the northeast corner
Of Fulton street and Broadway, which contains
only 900 square feet ia subjected to yearly rental
Of $4,000. Estimating on the same principle as
in London, lat thirty years purchase we have for
the value Of this lot the enormous sum Of $3.50, :
900, which is at the rate Of more than twelve mil.
lions Of dollars per acre, or about two and half
millions pounds sterling! We cannot give the ex-
act figures TO the amount OF the yearly rental
Of the lot on the southwest corner Of Broadway
and Chambers covered by building owned now
by the Shoe and Leather Dealers Bank, but are
sure of this much: that il is considerably larger
per acre than the rate at which the Lord Mayors
lot mentioned in the above extract was let. II IL
proper to add, that, estimating the value at the
London rate, il cannot be correctly applied to this
city; about fifteen years purchase would be more
in accordance with circumstances. This would make
the value of the piece first mentioned higher than
Alderman Moons lot.-N Y. Cow