The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1869-02-20
Ghe 84m Orleans GIsstsnt.
SATURDAY MORNING. FEBRUARY 20, 1869.
'Nfm Orleans Zeal estate @arket
CRESCENT oPFIcE, "a Camp Street, I
Nsu Orleans. Feb. 20. ls63


New Orleans Feb. 20, ls6s )
Although ID might be considered rather too
early in the season to begin TO speculate upon the
probabilities OF an increased demand next summer
and fall for eligible stores in the business part OF
the city still, it would be well for those inter.
ested TO give the subject some consideration while
they have time, we will make some suggestions
which might result TO the benefit of real estate
owners and those who lease It.
Ii is a well.known fact that the section Of our
city which OF late years has been almost exclu-
sively devoted to the wholesale or jobbing trades
was much too crcumscribed, and that the mer-
chant who wished to embark in any OF these
branches of business was forced to either pay an
exorbitant rent or occupy q store away from any
Of the centers OF the trade In which he was en-.
gagged. For instance, suppose that Mr. A. wished
to open o wholesale dry goods house and enter
the lists for 8 country business; he must either
take store on Canal, Magazine, Common or Grs-
vier streets, for which he would have 70 pay at
least $500 per annum, or take the chances for
getting business land slim ones at that) by means
of druumers, to whom he would at the end Of
the year find that he had paid larger amount.
The sane condition of affairs exists as regards the
grocers and the hardware merchants, and we
have heard of cases where wholesale merchants
have offered as high as $4,000 per annum for
well located stores.
Now we hold that there IL no real necessity for
such state of affairs. If those most interested
woud only do as merchants I5 other ci.lssaga5 s
every dsy.
Every person who has visited New York within
the past three years must have observed the
great change which has been made in the loca-
ton of the jobbing houses in that city since 1885,
Ten years ego there were very few large
houses above Chambers street. on Broadway, or
any of the streets which crossed IL or ran paralle
but the bulk of the business done in that Sec
ton comprised by the Battery and Chambers
street. Rents were enormous, and It was almost
impossible to obtain stores at any price. when the
merchants determined 10 move in body 10 locali-
ties where they could obtain the accommodation
they required at less COST and BY being together
force their customers as it were, TO follow. The
result of this move was the entire renovation Of
all that part of the city comprised between Cham
bers and Canal streets, aud now real estates,
which could have been bought in 1859 for twenty
thousand dollars, ere worth six times the money.
| The old and dilapidsted shanties which covered
| them have disappeared, and marble palaces stand
in their places, and are paying good interest.
Nor has this move proved detrimental to the
properties which were vacated; other trades
| which had been confined TO unpleasant and I'M
profitable localities have stepped in and occupied
their places, and they have steadily advanced in
| value.
Every old resident of this city must recoIlect the
beginning of the move towards the improvement
| Of Carondelet street. Ii took only two or three
years to make il what il Is now, the center of the
great cotton trade OF the city. Previous to that
| move being made the factors had no particular
| place of habtation; but were scattered all over
1 the business part of town. Their Offices were
often difficult of access and dissgreeably con-
| structed. There was concert OF action among
| the leaders, and we see the result in beholding
them in the possession Of the best Offices in the
| city.
Now, when our wholesale merchants remember
that in that portion Of the city comprised by Ram
| part, Front, Customhouse and st. Louis streets.
there are comprised some thirty squares of ground
| Immediately contiguous to the great business GEN.
| tiers, and that rents in this square are at least
seventy five per cent lower, in the average, than
| they are in the square bounded by Canal, Poy-
drss, CaroDdelet and Front streets, we cannot
conceive that they have any good and valid
reasons for not organizing together-by trades II
they willard occupying them. The stores on
| these squares IL may be true, are not as commo-
dious rs could be desired yet there are but few
landlords so blind as to refuse to improve pro.
perry when they see sure chance fora good re-
turn and we are satisfied that these localities
like Carondelet street, would soon be an ornament
| 10 the city and q source Of pride to the public
Who will take the initiative!
| The rain yesterday thoroughly dampened dowr
all desire which might have existed for inquiry
into real estate-psrticulsry IN that part OF the
city which, thanks TO the drainage system, has en-
joyed excellent water privileges all winter. We
sympsthize deeply with real estate owners in the
rear of Rampant street in their trials and tribua
tons. Their losses have been heavy indeed
| while the inconvenience of having their property
under water half the time must have been enough
TO worry out the patience of saint. But after
all, good may yet come out of this accumulated
evil and our people who have been such heavy
losers by these continued overfiows may be a.
| last induced 10 make determined effort towards
proper system.
There are to be several important sales OF real
estate to-day, at IL O'Clock, at the st. Charlie!
Auction Exchange, and We direct atten
ton to our list of sales which will be found in an