The New York herald., 1869-04-20
NEW HERALD TUESDAY 90


the last few days at Lynn. Mass.-A one and half
story house with three lots OF land fremont street
belonging 10 J0nn Nudge, sold to gentleman from
La 600 feet OF land, on Commercial street, belonging
to the estate OF the late Austin OMalley, sold to g. o.
Iioag for 81 5l0 lot OF land Myrtle street. sold
TO william NJ. Newnall Tor Sl62 A fine lot OF land
Broad street, Atlantic containing about 600
eet, sold to J. Hall, at SO cents per foot; Nj Hall
lot Immediately. splendid lot on Baltimore street,
near Nanant containing about $500 feet TO Messrs
they VIII erect a nne dwelling.
Mr.. Baker sold on Wednesday, at auction, a large
TWO story frame dweling, belonging to the heene
estate, to Charles B. Ciough Tor $3.50. Mr.. Clough
VIII remove The same TO lot near by ana put IL IN
order to rent
Mr.. Baker also sold at auction yesterday the furni-
ture In the house the corner OF Portland and Bal
more Streets which he recently sold at private sale
to James Purinton who VIII Immediately take pos
Nr. David Tufts has disposed of his two story
dwelling house, on Lewis street, TO Mr.. William b.
The Nevada Transcript of March II is responsible
for the foliowing:-"rhe city OF Sacramento has been
real estate--especally that description OF real
tate i suitable lor private residences.has greaty
daet iaGreass1 IN value We heard an amusing n i'm, nn
since. A prominent state officer determined to
raise his house and improve his. grounds. Be-
ing man who took little note Of general busi-
ness matters, he had not realized how the
City OF The Plains' was growing He estimated
that his improvements would cost 81, 500, but was
than $4,000. Having undertaken the job he found
that his friends estimate was the truth, and
he concluded to sell, and was made an olIer OF
$4,000 which he had under advisement and he told
his friend of 1t, who advised him 70 hold on. He
did So aud In day or two mad an oer OF SS0 600 and
then $4,000, and when this offer was made he went
to his friend in great glee and told him OF the Offer
HIS friend informed HIM that whenever he was
anxious to sell the property would readily command
$4,000 The property holder replIed-"i do not nn-
derstand these matters; M ten me all l. about @ ~ aha
replied-Well, guess won't sell Just yet; there is
no telling what that property will he worth In few
years II 1t Keeps growing.n
The sacramento Union OF March Is has the FOL
lowing uuder the caption. "rne Real Estate Mania,"
which contains some excellent renectlons:-In no.
ticing The conati0n Of the real estate market In
Oakland during the month ending the 18th OF March
the Biltettn Slyy cauterzeS some OF the homestead
associations which have been inaugurated III that
place on pure speculation 1t observed, truly that
"the wildcat In homestead scratches quite as bad
heard, from good authority, that these Oakland
"bomesteadr operations have extended away or
into the dry hills, miles from the water 'front.' and
that new "town plots. add tons" and 'supple-
ments' cover the whole country round about,
almost to the summit or the Dlabl0 range,
inviting unwary mechanics and laboring men
TO s'sink" their earnings In lots which, II
san Francisco and Oakland were to make equal pro-
gress with New York and Brooklyn could hardly be
Included IN town property within the next century.
While Is true IN the main that real cstate-that ls
land-ln the better parts OF California, consider
ing our inevitable future commercial importance,
has hitherto rated we may say almost nominal 1t
is also true that within the last year or two prices
have been inflated to an unhealthy degree in few
places where the real estate mania has received
force from projected railways and other prospective
advantages. 1t Is not to the solid advantage OF any
new place that real estate should command en0r-
nous prices. on the other hand t makes against
its growth and turns capital and labor and trade ia
other directions where prces are more reasonable
for Investment.