Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1864-04-01
speculation in New IOrk-A Coming
Crash.

New York Correspondence Boston Journa
Not since the war broke out have shrewd men
been 80 much at their wits end as now. Specu
lation il rampant and fairly mad with
the gambling mania But these are uufiedged
spectators who have Yet TO learn how treacher
Gus and uncertain the sea is on which they have
launched their all Alen of capital are standing
alOof from tie madness of this hour They con
fidentIy predict "A crash that will be more sweep
inc than anything New YOok has known this
century A gentleman of large means called
upon one OF our largest and most successful
brokers this week told him. he had 800 900 To
invest and said 10 him. what would YOU advise
me to do2 Just then donkey cart went by driven
bv an ashman. $50 aud 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 speculatons in real estate the past wear
have been astonishing Prices have reached u
figure that il is impossible for them TO maintain
A broker in the city in 1896 hired house on
Fifth avenue md took lease at $4,000 That
was considered high price for it. la January
last he underet the house at the rate OF IS 500 a
year. seine annually in advance He i now
travelling in Europe on the gain kouse that
was sold in November for $50 900 was sold in
February for $50 600 and the owner is grumb-
ling over the loss of $780, 900 on the sale. as he
u
him 500 900 for IL. Men have been sold out OF
house and home by asking what they supposed
to be exhorbItant price for their property. and
finding themselves suddenly taken up One
man offered house that cost him 600 for
$50 900 His offer was Immediately taken
When the papers were drawn they were made
a third party to whom the second party
had sold at an advance of so GOO.
An ex Mayor of the city, who lived in an ele-
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
a fully as they pleased On leaving one of the
ladies said to him. II suppose You would not sell
your houseI' oh. YES said his Honor. Il
would sell anything but my wife and children J"
That afternoon he received note from a leading
real estate house. asking him it he would sell his
house ana at what price. He offered it at $50. :
600. The offer taken at once The papers
we're passed and the money paid that night
The next day it sold for $40 500 Two
or three things in tins transaction made His
Honor little unquiet He offered his
house SO 0OO less than his next door neghbor
asked lie had to abandon his comfortable and
luxurious home instantly. He was literally
turned INTO the street Somebody made $40. ouO
ont OF him. Getting fashionable residence Mt
any price out Ot the question. Nothing re
manned TOR him but the overcrowded Fifth Az
Hotel He Is with his family in the
attic story waiting for something to turn up
Such state OF things cannot abide Our
shrewde>t hnhncers are looking out tor crash
Our leading merchants confess that they DO not
know how to buy or sell Many OF them are
curtalng their business for. like experienced
mariners. they read a storm in the sky where, to
an Impractical eve nothing but fair weather i
But the mex experienced men of small CAPT
tai, and professional men. are rushing into the
opening vortex, whose pathway is strewn with
gold