The New York herald., 1869-04-03

The real estate market Is without new features,
NE improved feeling already noticed continuing.
with the prospect of its increase In the better under
standing promised between buyer and seller. IL Is
beyond doubt that the extent to which the bogus
sale dodge has been practiced lately has seriously
damaged the auction business. and brought that
method OF buying property, which should
be, II conducted on strictly honorable prin-
ciples, the most popular, as it would be the
better into great disfavor. 1t Is but right in this
connection to state that the auctioneers themselves
have not been, with exceptions willing parties
TO this very questionable proceeding; but, on the
contrary. have frequently protested against the
practice fully understanding its certain future
damaging effect upon the market. AS In all bust.
ness however, the agent is bound to obey instruc-
uons. They were necessarily, in certain sense,
privy to much of It, although not the whole, very
frequently property being knocked down by them to
parties whom they supposed to be bona fde pur-
chasers but learned on their return to their Offices
With the withdrawal of much Of the interest in
auction sales, which was exhibited some weeks
back comes however. 2 larger inquiry at the desk,
the opportunity afforded thus for examination OF the
property sought, reelection ana fair negotiation,
overbalancing the special advantages Of public
the certainty Of the owner buying in, II his prexed
figure has not been reached in the bidding This
q i ks 0
lair and open dealing on the part Of their customers
m future: Let them require that all property
ali the Conditions atectins it's its disposal stated ted
hgure-let that figure be publicly announced along
with the other ''terms and conditions so that men
may not be tried with, and have clear understand
ing Of what they are doing. No bids OF course,
would then be offered below the limit II the pro-
perty was desirable with legitimate prospect Of f
ture appreciation, there would be inducement
enough for competition; or If the limit fixed was too
high, the judgment OF those present, it could be
upon another occasion The feeling of confidence that
would spring up II such a course as this were pur
sued ana carried out in strict integrity would be the
most eectual means that could be found for restor
ing confidence in the market or course, 1t would
attaches to auction sales, but our people are neither
slow OF observation nor reticent in their confidence,
sistence In it would most assuredly bring the much
desired acceptance OF 1t as an honorable reform.
Attention has before been called here TO the danger
OF buying property as much OF 1t has been lately on
small margins, with the greater part Of the purchase
money left on mortgage. The subjoined remarks bf
q correspondent, who appears to write knowingly
on this subject, may be Of value as an echo from
ssThere are many sums Of s., 900 and $4,000 placed
property, with expectations that will never
be realized. Many family Is now being pinched to
try and make up the balance but in 100 many cases
people can do to meet their regular expenses and
there is little hopes OF saving to pay mortgage or
j
by men having been tempted to go into real estate
awhile ago. No man ought TO buy unless he can pay
two.thirds. - -, in Broadway bought the
old Gold Room in Fifth avenue for 500 900, paid
$4,000 on It, and OF course expected to sell 1t before
the payments became DUE but he di(Sn0t and had to
let it 90, and see he has had to give up his busi
ness
81 think it your duty to caution the outsders those
IN the ring don't need your advice The idea Of those
landho!uers selling lots with eighty and sixty per
cent mortgage Most OF them are not really worth
more than half the mortgage They know full well
Friday was never much OF sales day. conse-
quenty the offerings In the auction mart yesterday
we're were light. No New York property was presented
Below we give particulars OF transactions:-
Auction Sales of Real Estate Yesterday.
STATEN IsLAND pRopEnry-BY MULLER, WILKINS AND co.
lots "a OF westervslt at Brighton, I, each
story house, rear av iO.OS
story frame house and lot adjoining, same size, '
MAsrErm, LII PnorEnrrDY JOHNSON AND .iIlEs iO'
lgorc lot, Sc corner Of Astoria and Maspeth 3ssx
soss Msspata Perry avs running through, w
lots on Maspe, and Perry avs: ,onia: ssso each o
Van Mater family mansion, about 6os3O, two story
Frame with lots on same avs adjoining same size ~,
asis 6 Maspeih and Perry avs adjoining, running
90 lots MsspsiS and Perry avs adjoining, run:
q lots on corner of Clermoni and Maspeth S5x ~
4oss corner Of 0isrmoni and Perry avs same
lots on corner Of Astoria ana Perry avs sss1sssI o
each. $50
lots corner Of Clermont and Perry avs, 25xl00
lots on corner Of Clinton and Cermon avn. s5rio6
each $40
lots Of Perry Astoria 25xl00 each go
lots OF Perry adj, 25XO0 cache 20
lots OF Perry adj 25x100 each. go
of Perry adj, 25x100 each 200
lots OF Perry adj, 25xl0J each. 25
lots OF Perry adj 25xl00 each. 200
lots side OF Astoria HUI st. 2s9 IT front
Is II rear and los II Deep. 200
lot corner Of Washington place and Clinton av
lots Clinton av, near Washington place same .izs ~
each.... l3o
size. 1856
lots Washington pace adjoining, size, each 100
l6o
lots OF Hull av of above size each 100
lots of Hull Astoria each. 125
lots Huh lots last sold size, each. 120