Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-10-03
REAL ESTATE.
Sale Of the GayOsO Bank Prop
erIy--Rapid Decline
In Prices.

Inc m1AuluC6ul pulAlNLE lDEUlcIAF occupied
by the defunct Gayoso Bank, situated on Mad
ison street, south side, between Center alley
and Main street, was, yesterday, sold under the
hammer by Register, T~reZevaut &Co. As IL was.
perhaps, the most important auction sale OF
real estate that has taken place IN Memphis
since the Overton hotel was sold at public out
cry, It naturally attracted considerable atten-
ton. Quite q number OF capitalists, men
whose names are household words in Memphis
had gathered at the spot EOme time before
twelvs-the hour at w0ich the sale was to be-
gin,-and were al earnestly engaged in discuss
ing the pro Oerty-its actual and rslstive value
the amount it would probably bring, and the
interest its rental would pay on given amounts.
Mr. Trexevant, on commencing the sale, in a
few words, described The property, and an
nounoed the terms on which Il was TO be dis
posed of-one-hslf cash and the balance IN four
months. The first bid was for Sl5,000-bid by
some one in the crowd, whom we were unable
TO see. Seysnteen, eighteen and nineteen thou
sand rapidly succeeded eaca other-all bid in
the space ef q minuts and a half But at nino-
teen thousand dollars bids began to nsg, and
nineteen thousand dollars was Grief by the
suctionear a dozsn times or more. before an
advance was made upon It. At last 1t came
from an elderly gentleman with a rubicund
fscs-slowiy and half jeTked Out-"a hundred
more" This seemed to give a little impetus,
ana two, three, four and ave hundred dollars
additional, wers rapidly oifsred. at niReteen
thousand Eve hundred, the sqctjoneer again
stuck aud remand 50 Eve minutes and more, du-
ring which tiSe he d~es3anted in glowing terms
on what q bargain vas then and there offered
them. sFifty better" was - last offered by q
gentleman Standing I'm the door, behind the
auctioneer, and who seemed TO have a pTiva'S
line OF telegraph with some gent,emsn in the
window of the third story OF tbs buildings
oppcsiIe. Fifty better" and by slow bis OF
Afty dollars ct a time, twenty thousand dollars
attained, Here there was a short stand
stil. but bidding again commenced, and duy By
fifty, with an occ8EiOnsl 81 spirit OF a hundred,
twenty thoasand eight hundred vas reached.
This for thirteen minutes, was the figure Of !
fered. Twenty Thousand eight hundred sang
the a~uctioneer, and again anG again he re-
peatsd it, varying the tune, once in a while, |
with " one time IN call call It." At last, becom-
ing weary, he seemed about 10 knock it OF"
al that price, when there was a stir II the
crowd, and new voice sang out, twenty
one thousand dolIars!" "a bid IN " was the
general Impression, but II was not, and this
new voice soon seemed to have tLings lis own
way. Bidding again became lively, aud at last
after a struggle OF fully an hour and three 1
quarters the acme was acknowledgements
seven hundred aud fifty dollars |
. Once, twice, last time I call ft-twsnty-uCo
seven hundred and fifty dollars, and
gone to Mr.. -, what's your name sir?'
inc. g. Bills, OF Bolivar, Tenn. And so
this piecs Of property, now but half rented, yet
paying . rental Of three thousand dollars a
fred and fifty dollars. The two story build
.ng on the northwest corner OF Cen
Ter alley and Madison stree, just
across the way from the one iast sold, and 1
not one-fourih 50 costly a structure, sold, three
years ago, for hfy-twO thousand dollars, nearly |
hfTfy thousand dollars more.
This is simply a mmen on the times, and
more foreibly thar anything else
souid, the scarcity among us OF cash for invest
Dent in real estate. One half cash, and the
balance al four MONTHS" is nearly equivalent
% sl casn, and The purchaser will, in all prob
ability, pay the whole amount in cash, dis
counting bis own noe at current rates. saving /
hereby over a thousand dollars.
This ssIe OF real estate shows capitalists
lbroad what g neld is open 10 them here for
he safe aad certain investment Of their money,
We cordially invite their atieutiOn thereto.
GEN. PIKE.-Soms Of the politicians
II st. Louis are much exercised that Gen.
Pike, during his late visit to that city,
have made a political speech IN st.
Louis. The Times thus settles the matter 1t
s said by e city paper that Mr.. II. L. Palmer
egrets that any promiHeRt Mason has ssen tit
% address any political assemblies IN this city,
or the reason thai HasOns were cOuvoked for
Tery different purposes. Perhaps he regrets
a prominent Mason has seen a., while not
in the Grand Council, 70 prepare the
,apers in q heavy suit IN the United States
.ourt Surely no Mason, in social Intercourse
With the citizens Of 81. Louis, has hesitsted 10
utterancs to his reasons for adhesion to
and COlfax or Seymour and Blair, aud II
lot why was It improper for a distinguished
writer and speaker to give utterance
Q TIE same reasons 10 q mors public manner
In the presence OF thousands DESTROYS of
fearing him8 II Gen. PIKE had spoken in
instead OF Fainnlsny ban, dis conduct
7ould be neither more nor less rsprehensible,
stlI would be none the less obnoxious TO
be criticism ofthose who may differ from him.
a any event there was never a richer i~ntellec-
1al feast spread before the pc ople than that
1r which the asssmblags at Tsmmany Hall
-as indebted to the m%stchless logic and simple
OF Albert Pix e'