Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1862-02-10

HEAVY TRANSACTION IN REAL E..
TATE-Now AND THES.-At the Court House on
Saturday afternoon we noticed some pretty
5hsriffs hammer.
The year 1857 is one long to be remembered
By the citizens Of Davenport-and Of the entire
country. for that matter. Everything. whe,h.
er substantial or real, wss inflated TO the high
est degree OF tension. 10 vacant lots whole
fortunes were counted upon-and he who pos
.essed paper town was looked upon as akin
to niliionsire. Many Of us-too many, per-
haps-look back to that time a. they would re.
view fantastic dream after waking-as
something very magnificent and highly desira
ale. but 10 fact possessing no substantial basis
r0ose Who considered themselves the neares,
to munificsnce. were perhaps the farthest from
it those who considered their road to fur,u;e
20 firm and so closely fenced in that they could
not stray from it, we're just arriving upon n,ost
reacherous quicksands and quagmires in
which some were speedily swalio we'd up. 9th
srs struggled and buffettei. and went down at
last. AMI others still worked their way
through. but came out badly deformed and
battered by the operation. The few there were
~ho kept aloof from the general rush and went
around by some other way came out in good
condition. The latter class were Mtn denoni-
uated - foggish in their ideas a I'd behind the
age in their prociivities. but mow they are
acknowledged as the only wise travellers upon
the road-the only ones who had good hard.
sense at the bottom.
But this is perh APPS straying from the text
10 the time above alluded to there was las
there now ie) on the bluff fine mansion and
handsome outhouses aud greuUds belonsirs to
Gee. b. Sargent. Esq. and farther down in
the city. new and costly reside ncs-the
roperty OF E. Cook. Esq. These were then
two Of the best. if not the very best, residences
10 the city. The gentlemen owning them he.
came Inv olvsd in the crisis which set in during
the latter part Of 81. and in due course o
sveots-in the latter part Of the year 1858,
found 1t necessary to- effect loan upon the
property 10 question. This vas done, and oi
N estate in the city Of Boston the sum Of
$4,000 vas realized, under . deed Of trust
At that time there was no question a. TO tht
perfect security Of the loan indeed the agentl
If the estate mentioned considered the proper
~ worth at least $4,000. and We donb. no
that in the most favorable times could co
have been purchased for less thon eighty OF
ninety thoussnd dollars. Indeed. We behave
that the Improvements on the property, com
prisiug the two residences. etc. cost the own
srs not fer from fifty Thousand dollars-proba-
bly not cent less The locations, aside from
the Improvements. we're then very valuable
suppo,sd to bs.
Well, at the Court House on Saturday, thi
property was sold to satisfy the shove claim
*hich the continued hard times rsndered
impossible for the parties obtaining the LOAF
10 liquidste. The property on the bluff. In
sluding Gen. Ssrgsnts reeidence. and tn
rouse in which Bishop Lee resides. togetbe
sith several vacant lots in the "a me block
brought SIS. .s0O-that 10 to say. the resiiecc
sad lots thersunto pertaining. .broagi i 81, ,o0(
tas Bishop Lee House and lot a, so 0, the ".
caat lot between the two fronting on Brad
street. $4,000; . large lot fronting on Perr
street, brought $4,000 Next vss sold tn
residence Of L. Cook. Esq.. on Fourth stree,
together With the two lots it ocespiss. Tni
orooght $4,000. The aggregate suo unit {
be ssles Vas SO 500. The amosss ssaiaut
/" sss.4ss. The property vas ps-ebasse' b
'ohn J. Dixwsll. E.q., Of Bostes. By his att on
asys. Dsvieon 4 True. Nr. H. sudorsed th
original notes. and has to save himself b
taking the property. The price paid vas 9
soarss higher than any other party voul.
have paid. The income to be deris ed f.-om sh
4hres rssidssess cannot Be over $500 PEI. pea,
shich IL only the interest upon $4,000 do Usr,
chs unes have been asainst Ne. d. - ve, ! q
'sainst other parties interested iu be tra o,
.ssion. The houses are good md subssae, u
Tor the purpose for vhieh shey we're built. b. ,
istsstivs for rsvssus purposes. -
Ihists bet visdins up some 81 ne trouble,
sssrrsd by The 6aassial ssora ,of 1851 e. /,
.hls - 'sss vAils yss bessrss ne IN a, ol
@ss gale Win BE- entirely ohlitsf1i.d.