Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1864-04-07
New York Correspondence Boston journal.
Crazy SPecuIatiOns I'm New York.

New York Correspondence Boston journal.
Crazy SPecuIatiOns I'm New York.
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 gam
bling mania. But these are unfedged
Spectators who have yet to learn how
treacherous and uncertain the sea is on
which they have launched their all,
Men OF capital are standing aloof from
the madnesssof the hour. They conf
dentially predict crash that will be
more sweeping than anything New York
sri akgee H eahss ibis sa SlfgHtury gentleman
largest and most successful brokers this
week told him he had 100000 to invest,
and said to him what would you advise
me to dof $50 and ask that man."
said the broker, he knows as much
about it as do Such is the general
feeling among shrewd and experienced
capitalists. The speculations in real es-
tate the past year have been astonish-
ing. Prices have reached a figure that
it Is impossible for them to maintain.
A broker in this city, 1886, hired house
on Fifth Avenue, and took a lease at
$4,000; that was considered high price
for 1t. In January last he underlet the
house at the rate of IS, 600 a year, semi
annually in advance He is now trav-
cling in Europe on the gain A house
that was sold last November for $30, 900
was sold in February for $4,000, and
the owner is grumbling over the loss Of
$4,000 on the sale, as he has since found
a man who would have given him csc, 900
for 1t. Men have been sold out of house
and home by asking what they supposed
to be an exorbitant price for their prop
erty, and finding themselves suddenly
taken up. One man offered a house that
cost him $4,000 for $4,000. His offer
was Immediately taken. When the pa
pers were drawn they were made out to
q third party, to whom the second party
had sold it at an advance of $4,000. 735a
An ex-mayor of the city, who lived In
an elegant residence, in sumptuous style,
was visited one day by two ladies, who
asked permission to look at his house,
stating that the house next door was for
sale, but the occupants would not allow
them to view it, His Honor courteously
informed them that the houses in that
block were exactly alike, and they might
examine his house as fully as they
pleased. On leaving, one of the ladies
said to him, Il suppose you would not
sell your house ~ Oh, yes" said His
Honor, !" would sell anything but my
wife and children" That afternoon he
received note from leading real es-
tate house, asking him If he would Sell
his house, and at what price. He offered
1t at $4,000. The offer was taken at
once The papers were passed and the
money paid that night. The next day
1t was sold for $40, 800. Two or three
things in this transaction made His
Honor little unquiet. He offered his
house $4,000 less than his next door
neighbor asked He had to abandon his
luxurious and comfortable home instant
ly. He was literally turned into the
street. Somebody made Sl0,500 out Of
him. Getting a fashionable residence at
any price was out of the question. Moth
ing remained for him but the overcrowd- I
ed Fifth Avenue Hotel. He is now with
his family in the attic story waiting for
something to turn up 5siia4 .SA h11
{ Such a state of things cannot abide. q
Our shrewdest flnanciers are looking out +
for crash. Our leading merchants con-
fess that they do not know how to buy
or sell. Many of them are curteiling
their business, for, Ike experienced mar
liners, they read q storm In the sky,
where to an Impractical eye, nothing
but fair weather is seem But the mex o
perienced men of small capital and pro-
fessional men, are rushing into the OPEN
ing vortex, whose pathway IL strewn