The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1864-04-02
CRAZY SPECULATION IN NEW
YORK.
New York Correspondence Boston Journ

New YORK Correspondence Boston Journal.
Not since the war broke out have
shrewd men been SO much at their wits
end as now. Speculation is rampant. and
men are fairly mad with the gambling
mania. BuC these are unfledged specula-
tors who have yet to learn hcw treacher-
Gus and uncertain the sea is on which
they have launched their all Men OF
capital are standing aloof from the mad
ness Of the hour. They confidently pre-
dict a crash that will be more sweeping
than anything New FORK has kuown this
century A gentleman Of large means
called upon one Of our largest and mest
successful brokers this week, told him he
! had $lOO, COG to invest, and said TO hiIA
what would you advise me to Go?' Just
then aarkey cart went by driven by an
a.hman Go aad ask that .lan,' said the
broker; "he knows a. much about it as |
| do" Such is the general feeling among
shrewd and experienced capitalists.
| The speculation in real estate the past
year has been astonishing. P.ices have
reached figure that it is impossible for
them to maintain. 4 broke. in the city
in 1863 hired house on Fifth avenue,
and took lease at So 600 That was con
sidered high price for il. IN January
last he underlet the house AT the rate OF
$500 year, semi annually in a.. nee.
He Is now travelling in Europe or tut gain.
house that was sold lGxt November for
$50 600, wa. so!d In February for 10000,
and the owner is g:umjling over the loss
Of $40 GD0 on the sale, as he has since
found n man who weu.d have gwen him
100000 for il Men have been sold Gut Of
hoeae and home by asking what they sup
posed TO he IN oxorbit.nt price for their
property and fint,i,- themselves sudden
ly taken up. One NAN offered = house
tina, cost hiai $4,000 for so 900.
His offer was irnr.eaiateIy taken
When the papers were drawn they were
made ont 10 third party, 70 whom the
the second party had sold 6: IN Advance
Of $4,000. An cx-Mavor or the city, VINO
lived in an elegant residence IL suEnptuous
style, was visited one day by no ladies,
who asked erm:,sion 10 loo; a; his house
stating that ths.Ecxt house vas for sale,
but the occupants would no; allow thern
TO view it. his Honor courieCusl- in.
formed them that the Il uses in that block
were exactly alike. and they might exam
inc his house IS fully as ,hey p!eazsd.-
On leaving. one oFthe ladies said 10 hiEi
r suY-os"you would not sci! your house?
Oh yes. -aid bis Honor. Il would se.!
ANYTHING but rav VIE and cn..iren
That Afternoon he received a note f-cai
q leadiu~ real estate house. and at what
price He offered it at $4,000 The O.
fer was taken At once. The papers were
passed, aud the money paid that night
The next day i; was sold for $4,000 -
Two or three thiugs in thi, transaction
made his U9aort Little URquiet He Offer
ed his hcuse $1,000 less than hi> re%t
door nei-hto asked. ,'e had TO ablnd~
on MS comfortable and luxurious home
instantly. lie WIS literally turned INTO
the street Somebody made $1,000 ont
Of him Gettin. fashionable residence
AT any price was out Of the q9Rstion.-
Nothing remained fcr h.m hut the over
crowded Fifth avenue hofol lie : row
with his family in the attic story waiting
FOR something TO ;urn Up.
Such a state Of tiirgs can not abide
Our shrswAe.t iiaauciers are locking out
for q crash Der leading merchants con
fcss that ih@y 90 rot Know Lcw 20 buy or
sell. Many OF them are Curtai.in, their
business. for lile experienced mariners,
they read :. -ts.m In the Ky, wL"'e TO "a
unpracticed eve nothing but fair weather
is seen. 8ut the inexperienced men Of
small capital ard professional men are
rushing isto the eTeajus vortex, who-e
pathway j. sirewR with geld