The Conservative. (M'connelsville, Ohio) 1866-1871, 1867-01-04

ffCW New Workers Make 1Nn
Lose Money--SpcCUiati in
Leases--Tbe LORD Bono Rob-
berry Brokers and HiCbbcrs--
The Triumph Of tire Hcars--
TIE EaStni an Gase--Tisc Jam; CT
Esiatc--RcIsOn Chasc.
Correspondence Of the Rochcater Democral.l
NEW YORK, Nov 20. 1866
Among the methods ofspeculation
to be fonnd in New York, that of TAX
ing leases of property is a very sue.
cessiul one, and those who understand
it have thus made large fortunes The
plan pursued is to obtain long leases
IN localities which promise future i'm
provement. A man destitute Of capi-
tai, and without investing a dollar may
thus obtain control over large landed
interests We know Of an individual
who commenced years ago leasing such
stores as he could cot for ten years -
These he Immediately rc.let on short
leases at the same rates but when
that time had expired he could increase
and perhaps double on the rent. One
man now has several rich leases on
Bond street, which yield him an in
come Of $4,000 per annum. Real e'-
tate men are lately more cautious; and
it is difficult to get lease for more
than threo years, whereas they wcrC
formerly given for ten and even TWEEN.
ty years is better than fee, inasmuch
as within that time the valuo Of props
erty may be completely changed by
by the migration Of trade. AN illus
tration of that migration is shown by
the condition Of Front street. In isll
when the writer Of this was clerk for
Edwin d. Morgan-now United States
Senator-our rent was - 600. Subse-
qucntly the grocery trade moved into
Broad street, and our store sank 10
halt its former value, and for one year
stood empty. Then came the war,
which expanded the financial world
and which, for want OIL room in Wal,
J street, entered Broadway street, and
p drove the grocers out by overbiddnl
. them in rent. The latter rctret
, again to Front street, and the stor,
above referred to now brings 2i,Oo'
per year.
While speaking of brokers, We ar
led to rofOr to the case Of Frank Ilol
len, recently arrested Cor having il
his possession a part Of tho bonds sto
len from the Office of Rufus Lord. tn
. millionaire. Mr.. Lord was an old maj
; who, though ostensibly Il broker, dl'
. little more than collect his in"om
> (sbout $4,000 per week. and reinyea
il. His Office was last January myste
> riously robbed Of a million dollar
worth of honds. a year has paSse
away, and the bonds are traced to u
e possession Of Frank HELEN, a Wa
~ street broker We presume that ote
u gentlemenly fellows Of this craft ha
a their eyes on the old usurer for lon
4 time, and that they robbed him fro
II day TO. day, under the cover Of bus
u ness transactions. 1t is we'll unde
u stood that certain so.called respectab
10 Wall street stock houses are acting
Ii concert with burglars, and that Il
" bonds stolen from the country ban'.
~ and from farm, houses are rapidly pas
IF ed into the hands of the former, ~
a thus disposed Of The police ho'
D. mado a beginning IN the case Of N
y HELEN, and we hror that they W
so make a clean work Of these Villains.
g. Had they acted on our suggestion, o.
'r gone at once through Wall street wi
n search warrents, Mr.. Lords bon
might have been discovered long ag
1t Is matter of regret that, Of a sire
Do full Of scoundrels, the only one who h
. got to State Prison is young Ketchu
who is, perhaps, the least guilty oft
n whole crowd.
in Speaking of Wall street, we may
st mark that the recent triumph OF I
IT. "hears' was a full compensation
It. their defeat last summer Last we
II. stocks came down az rapidly as th
$50 had so lately advanced Such are t
of profits ofWml street. IN the SUNNI
Of the bulls make twenty million out
ed the bears in the fall the bears ma
a. twenty millions cut ofthe bulls. III
A summer the bears were in pan
,st willie the bulls were filed with jo
ON ast week tho bulls toOi their tarn