The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-01-23
RE Al E sTATE.
GROWING MOVEMENT IN THE MARKET.
Improved Prospscts-The Relation Of the Up
Town Transit Scheme Influence Of the Gov
ernor's views-Long Island Lands-4hsir
Value in the Judgment Of an Expert
Large Transfer 81 East Side City Lots
rnr pr.rrrEs OF rus PAST WEEK.


ana the interest iet In the current and prospective
movements IN the market. The large attendance
at the sale of the Cram estate on Wednesday sum.
GENTLY attest the latter fact, while the high prices
obtained give equal proof Of the correctness OF the
former assumption. With this exception the deal
ings in the public market were on restricted scale.
consisting mostly OF small parcels sale Of Brook
lyn property occurred which did not result with
much encouragement for the immediate future Of
the market there. The exhibit made In Mayor
Kalbnesch's message concerning taxes, and the de-
termination to collect assessments for improvements
in one amount, have operated to check activity In
real estate In Brooklyn CITY,
The once dealings In real estate In this city and
neighborhood were, during the week, on an ex-
tended scale, and very decided inceptive signs Of
the great spring movement in the Market which
be looked for about the LIST OF February, could
be found In the inquiry at the various oices both
for improved and unimproved property IN particular
localities, as well as In the presence In Pine and
Cedar streets OF well known real estate magnates,
evidently preparing to share IN the
EXPECTED RENEWAL OF ACTIVE SPECULATION.
The time Is certainly favorable to such turn IN
the market. In the interval which has passed from
the last period of excitement great and valuable I'm
provements have been made IN various parts OF the
island in the way OF opening streets and boule
and lighted district. Then the uncertainty
respecting the solution Of the rapid transit
problem, with the well known pressure to
be exercised In pushing some scheme through the
Legislature together with the proposed annexation
OF Westchester county, seem to offer the precise
ditions wanted TO provoke or stimulate speculative
dealings. Taken IN connection is the TACT thar
money now "a period Of artificial stringency ex.
ceptedl is very plenty here, and that a powerful
bear clique in Wall street are making extraordinary
efforts and directing the strongest energies in on
attack upon all railroad and stock values. Should
they succeed even to the extent OF frightening small
capitalists from the street, This will bring to the real
estate market strong support in speculative move
ments. The up town transit problem, In the very
muddled state In which 1t seems TO be, is likely to
introduce another element OF uncertainty concern.
ing future values, which, with the multiplicity Of
points, sure to be conndentlally given, is calcu.
lated Still more to excite spe culatlve activity.
GOVERNOR HOFFMAN, VIEWS
on this matter. If carried out, are certain TO aid
much IN producing tbs result. IL is doubtful, how.
ever II, outside OF this speculative fraternity, pro-
perry owners IN general would approve OF his
method OF proceeding. The Governor, it win be
remembered, gave strong endorsement in his
message TO that plan wAch proposes ian elevated
raj lway on SOLID masonry through the blocks"
Mayor Hall subsequently gave utterance to the fol-
lowing objections 10 this scheme:-.Tne project
amounts to almost q total coniscatlon OF property
| near the blocks and II the damage were correctly
| estimated by commissioners, perhaps the expense
| would be found TO be enormo.s and unparalleled in
| the history OF enterpriSes.N
In answer to TINS the Governor explains in an In
tervew which appeared In yesterdays HERALD, and
from winch we quote:-"lhe expense OF the road
II would in the purchase OF the property through
which 1t would be run. ana proposes to euchre
the property owners interested for tue benefit OF
the corporators thus: "rhe way to get the best Of
this difficulty with property owners would be tor
ever parts OF blocks they would desire TO run
through, without, when they make their purchases,
houses to be used as dwellings. You see by this
means tAe persons whose property would adyoin
tine proximity OF the road would thus lie blinded to
what was going on, and they could not aid In put
ting false value on the property that would be de-
''You are then, under the impression, Governor
continued the interviewer, 'that this could only be
accomplished by whoever gets the right to run
road lot allowing the route OF the road to be
made known before he had purchased SUFFICIENT
block way TO answer all purposesr ~
The Governors plan Of getting over this dinculty
OF expense Us o short one. 1t involves, however,
/ such
AN ENORMOUS GRANT OF POWER
| to individuals that o general remonstrance from
! property owners may be tainly looked Tor. To
give the selection OF route involving consequences
oil such great pecuniary Importance. with authority
to proceed secretly In laying 1t out, Is to place the
landed property Of the whole city at the mercy OF
Clique. 1t must oe intended that having derer-
| mined upon route, they shall have the power to
Of a single house not disposed to part
new line Of travel they nave that power nen
owners right and left 1t would never DO for them
to be compelled TO pick out route here and there,
| according as they have the chance OF purchase;
| hence they must have some authority similar to that
| whereby Commodore Vanderbilt acquired ground
for his new Union depot II is not wholly impossi-
bic that q very large portion Of continued route
has been already purchased, as certain class OF
buyers having strong Affiliations are known to have
ABSORBED large quantities OF real estate within the
last two or three years. Dut II thus far advanced,
where Is the necessity Tor the secrecy advocated by
the GOVERNOR In any view OF the matter the pres
ence OF such an important buying interest IN the
market must be provocative OF excitement IN deal
ings.
Reference was made here last week TO the grow
ing interest which was being exhibited Ia
LONG ISLAND LANDS,
especially In the direction OF the South Slde which
dr. Stewards great purchase had given 70 the me-
tropolis, as 1t were, as newly discovered suburb.
borhood indicating very decided appreciation OF
tue value oil lands here, and while the excitement In
out, al least for the present the advantages and
Character OF Long island lands Is every day provok-
lug more and more inquiry. This awakening interest
IN secnon That had been SO Long neglected induced
the writer 10 seek Tor some Information that would be
explanatory thereof and he accordingly called on
A. J. Bieecker, the Oldest OF the New York
aucuoneefs, ne having welded the hammer
real estate market Tor that period Of tlme together
with tie records OF his house, render him familiar
VITA every movement Of the real estate market in
this neighborhood since that movement can De said
TO have begun HIS honorable standing, as well In
the business community give additional value TO his
expressions, which thus possess the merit that much
that We have seen written about real estate has not
OF being Understandings and truthfully stated.
''Mr. Blocker" said the writer he entered al
called TO inquire your opinion concerning the pre-
sent movement In Long Island unOccupied lands. l
heard you had been looking In that direction for
SOME yearsr
ar. BLEEcKER-Yes, sir: the GRIP Van Wrinkles"
or queens ana Sunok counties are Just awakening
TO sense OF their obtuseness TOR the last hundred
years. did have some VIEWS as you say concern
ing Long Island property long before Mr., Stewart
went out there. have long been convinced Of the
value OF these immense tracts OF plain lands which
the easy farmers Of Long Island deemed Of little
worth. and which but fer the demonstration made
py AR. stewart on similar prairies might have re.
manned despsed, II not forgotten for another cen.
tury.
KEPoRTER-Was Mr. Stewards purchase the first
purchase on the part OF capitalists In that direc
ton for speculation or investments
Mr.. BLEECKER-Not quite, but almost of any extent