The New York herald., 1871-03-22
REAL ESTATE MATTERS

There Is not much 10 be said In respect Of the real
estate market. Business as rule IL dun, awaiting
the developments AT Albany, where "the rapid tran
sit problemn and other enterprises n transitu.u
Among these embryOtic schemes is that '.intro.
duced by unanimous consent by Mr.. Tweed, read
twice ana referred TO the Committee ON Banks.
reported favoraby from said committee, and conf
mitted TO the Committee OF the Whole, entitled an
act TO incorporate the Real Estate Trust Company OF
the Guy OF New York; What has become OF this
biz since the action above reported We are unable
to state since the historians the spot have failed
to furnish record of Its progress but as we arc
satisfied civilization is not failure and the Cau-
casian Is not played out, we incline to the opinion
that 1t still moves, exists and has Its being. II we
are mistaken, to the aforesaid bogus historians as
we may then call them, be the responsibility OF this
error. The bin In question contains the following
provisons:--
sEcIIos 5. The said corporation meaning the Estate
post and to loan money securities; to allow interest
M OF s o to
personal property and for the thereof
ssoy notes. drafts and Ss Of Exchange ss Be- eo
o e aa r deed S real
chase or sell bonds and mortgages guarues
skC said corporation sha have power purchase.
Such be- M SowS % %
snch as may DC taken sy In compromise or payment or
such may so purchased by a. judicial
forcemen OF any cain Judgment mortgage, trust deed
agreement In the nature Of pledge mortgage OF the
business transactions.
All OF this is very quiet and very Indifferent. tho
amount or the stock OF the corporation being
limited to 81, oO0 and permitting business to be
commenced npon paid up capital Of $500 900,
with the following prOvlsiOn:-
SECTION Each stockhoder liable for the debts
S @ e e M to the amount Of stock sabscbed OF held
shall not be Individually liable thereafter.
Now this whole bll might be passed over In
silence as containing no provisions not afforded by
the general laws OF the state but for the circulation
simultaneously with It's Introduction OF pamphlet
entitled ''Real Estate Transactions as they Are aud
as they Might Be- Plan for the Insurance OF Titles
and Mortgages 10 which name Is attached whom
nobody apparently knew and who is generally re-
garded as myth. The following is the prospectus
OF this UtOpian scheme:-
The facilities offered 10 every ciixsn OF this prosperous
country for sharing the possession Of It's rich and
in the Old World are fully realized by population n"rs,
inclined TO settle In home of their This tendency
upheld by laws, which, with republican spirit OPP
po posse s sse sr qS Si or the O. It's DIS
where this principle prevent the
s~nsrssp po.as. IT,
iGs
a % 70 W for The m
spirit Of the law. For, long a. i takes wesss
.nSs .na ;. .S%s%e' months to Obtain
can be done only present heavy eIpeust a. long
over sgan aud the repeated he relies
Si hs Ky =.
aesn ana in real estate can never develop
under favorable crcns.ances they would certainly
property sharing IN se SH,s
al othe, comnoditi.s
Of caps uns%poysa and moi likely 70 be required FOR their
% so ss wh ai h part G the
meiehsn hs adssnsn. as s4'ss sss
s'a eo%Sees aS ass'1 % f; s
s. sasf On su,e.s part of s either for
Dn the srea; eat. and pEod@o,ve mass Of the popustion
they inhabt BY doing 80 they Incur the risk OF Gnlpg
themselves at any moment starving in the midst Of er
No doubt many make that risk. Witness commercial
their their ipSss'ens'' S,d ,s suspend psy4sn drawing with
others Wines fr5er Ss sanapy hundred, ~ sS 2,
%s1y mSTsase Their 70 Obtain funds needed
valuable land frequently thrust upon the at
peinaly alive Involves s sacrifice, tie mSf Dss
to hmss asss he nVosea n
tse "a Nv Of hs
no usuy law win protect him from the affections Of tight
In short the ownership OF real estate /. rendered onerous
one under oher would aGa e' G
s Of for ,ss and would
the end lose but II upon those directly
.Asy sssy law ,fs, isHp"ss impo.es
Real estate continue TO enjoy rs exceptional legal POSI-
as any other commodity And this may be accomplished
without any outside as assistance by the profitable sesus
Such is the scheme the feas;bii,y Of which desire
demonstrate.
Now this excellent scheme Of guaranteeing title ls
all very well, II IL were backed mp by company of
several hundred millions capital; but as tile only
concern pretending to assume this right is limited
to 81 O00 and commence business at $500 600
the question arises where does the guarantee come
ins what at good. good can inc guarantee be beyond the
The guarantee OF one imperfect title TO q single
piece OF property IN this city. might up the en-
guarantee Of this company be TO the title OF real
estate In one single avenue In this citys Suppose
estate and al, unexpected heir made claim: the case
goes Into court, where It hangs for some year or
two, is decided In favorof the claimant carried to
higher court, where 1t may be settled In the course
OF two years more, and then against the title which
has been guaranteed by this company with its
$500 O00 or $l,oo0,000 capital. Is 1t supposed this
company VIII pay the value OF the property guar.
anteed when the title IS first disputed caused by the
claim set up by this unexpected heir, or will it wait
such claims might swamp the company and In the
second case. what good II the party holding
years hall dozen sucn claims arise, running the
company before he knows he is entitled to collect OF
i nv e What viii s ns
to guarantee f2oo,0o0 iitleS Who will be likely to
pay for such . snaranteea And then, what is the
value Of such guarantee, provided the company
takes the risks OF mlonsS And II it does not take
a large number and amount where Is the profit to
come from? We are OF the opinion, II this COM
pany goes into existence, II VIII prove
more profitable buying, selling stocks and doing
banking business as 1t Is allowed by OF the Sec
tions IN the bin, and not In undertaking guaran
tee the title OF millions Of real estate this island
BROOKLYN, New Jersey and, perhaps, all the United
States as we fear the guarantee would not be con.
sldered Of great value. St tnas would be for each
person to deelie for himself. BY the title or the
bill 1t may be intended that this company shall hold
In trust all the real estate IN the city OF New
York. We are little curious TO learn the precise
occasion for the use OF the word .trustn
The Dealings Yesterday
present no new features. The following are the
paIdculars.-
rSrw YORK pEopsRTY-BY MULLER, wILKISs AND co.
No. 8 Stu and No. S3 West Sh ST. lot aOx77 IT, brick
store and house, sold at private sale.
No 45 West 4ath ST., story brick house and lot, 81