The New Orleans crescent., 1869-02-25
Ghs Ssw 9rlfans GEsstsnt.
THURSDAY MORNING, FEBRUARY rs. 1852
Atw Orleans ReaI estate Market
CRrsckxr OFFICE, "a Camp Street
New 0rleaus Feb. 2J 1863

CRESCENT OFFICE, 81 Camp Street
New Orleans, Feb. 2j, 1863
The decision by the Supreme Court rendered
Yesterday, verifying the constitutionaity OF the
one per cent. tax on real estate, when it became
known, had a depressing effect upon the market
and we would not be surprised If during the mex
week or ten days there were to be q considera-
BILE decline in prices. This tax will certainly bear
heavily Upon those real estate owners whose
properties have not been productive and hun
dreds of them will be forced TO sell IN consequence
of inability TO pay II.
II has particularly proved unfortunate for those
who put their trust in the idea that they could
prove the law unconstitutional and refused TO pay
their taxes. They will not only have TO pay the
tax, but twenty per cent additional besides o
share Of the expenses of the litigation. IL will
thus be seen that certain prominent members OF
the Property Holders Association, who paid the
tax while they were combating the law, proved
that they did not allow their belief in their ability
10 defeat il to entice them into taking extra risks
Ii is certainly deplorable that the majority of
those who were influenced by them into entering
into the suit were not equally as provident.
We sincerely hope that in carrying the Law into
effect the officers of the State will be as indul-
gent as possible towards the people, for measures
which have the effect to ruin large body OF the
population of State can never result Otherwise
than disastrousy TO its interests in the end, no
matter if it should afford momentary relief.
Those who supported the measure in the belief
that il would force persons who were holding
on 10 large bodies OF real estate with the hope
that prices would eventually rise to q very high
figure to SELL and by thus putting great quantities
on the market at once, force down the price, may
yet be disappointed, as the experience OF the last
year has given greater confidence than was ever
invests IN our lands snd the present depTes
sion cannot be other than temporary.
Plantations and farms, as will be seen by the
sales at auction during the past three months,
have steadily increased in value, while the de-
mand for them is daily growing greater aHd ia
the matter of city property, we have nohcedN91
several occasions prices refused which would
| have been gladly taken year ago.
Even with this additional tax, productive prop
critics. both in the city and country net to their
proprietors greater interest than In almost any
| other country, or we are much mistaken. City
| property which will yield to the owner from six
| TO seven per cent. clear income and plantations
| and farms which bring revenue OF eight and ten
| per cent. must always find ready takers But
persons who hold lands, neither to cultivate nor
! to rent-only with view TO speculation, may find
this one per cent. hard load added to that they
| already have. Still, as these people cannot be
said TO be of any benefit to the State, aud may be,
as some argue, an injury, their complaints cannot
effect prices. If these parties are forced to SELL
| we hope that they will at least cut their proper
ties up into small farms or lots, for it is to such
division of large estates that must look for our
| greatest source of wealth in the future.
There are several valuable pieces Of property to
| be sold next Saturday to which we would direct
the attention Of those who are looking TO real es.
i tate for an investment. The following by Me5srs.
/ j. B. Walton d Deslonde:
| A bakery Oh Franklin street, between Gravier
| and Perddo streets, new two story frame dwell
| ling and two lots Of ground.
Two lots on Tchoupitoulss street, between
| Washington and South streets. Terms-one-half
| cash and balance in one, two and three years.
| The banking house and site Of the City National
| Bank, corner of Magazine and Natchez streets.
The two new three story brick stores, Nos. 81
and "a Natchez street, Immediately in the rear of
| the above mentioned bank. Terms-one-third
| cash and balance in one and two years.
The large three story and attic brick dwelling
No. l34 Bourbon street, between Toulouse and st.
| Peter streets. Terms-one half cash, and balance
| in one and two years.
By Mr. G. DeFeriet, two splendid two-story
residences, Nos. 324 and 326 Bourbon street, ear
| Esplensde; a comfortable and spacious residence
ON Peace street. and the lot forming the corner oil
| Peace and Bourbon streets. This is very eligible
residence for family.
BY Mr.. Alfred Bouliguy, seven lots In the square
bounded by Napoleon avenue, Levee, Water OF
| Jena streets. Terms One-third cash and balance
in one and two years.
By Messrs. C. E. Girardey & Co.. the lease o
I" Belle Terre" sugar plantation. four miles abov'
Donaldsonville, in the parish OF Assumption, anC
the sale of all the implements and stock thereon
| Also a lot at the corner of Girod and Commerce
| streets, in the city ofNew Orleans. Terms OF bot
lease and sales Onehalf cash and balance In on
|