The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-03-27

THE REAL ESTATE MARKET.
Some Pertinent Suggestions for
Legislative Reflection.
MORE REFORMS CALLED FOR.
~~~o~~~~~~~I>~~~-~~~~~~
Dock Improvement and Rapid
Transit Wanted.
HOW NOT TO DO 1T.
New Jersey the Rival of New
York State.
->~~>>~~~->>-,.>>~~~>~-
a Rising City Across the
Hudson.
A Rising City Across the
Hudson.
HOw EMIGRATION Is STIMULATED.
John Taylor Johnston, President Of the Cen.
trail Railroad Of New Jersey, President
Of the New York Viaduct Railroad.
What is Doing i'm the Market
Here.
PAST AND PROSPECTIVE SALES.

PAST AND PROSPECTIVE SALES.
The subject OF rapid transit continues to be the
leading point OF interest in the real estate MARKET
involving In It's solution the most important results
both TO New York city, Long Island and New Jer.
sey. In this indeed, is involved the whole future
OF the market. so far as speculative disposition
enters into it, such disposition being mainly con.
fined to unimprOved property. ..a,sH
THE CURRENT SALES
In the public auction OF little general In
teres and, as rule, OF less importance In any cal
culaton concerning the future growth OF this city
and It's environs. Each piece Of properly put up
has, OF course its separate circle OF individuals,
anxious as to the result Of its presentation
in the Market but these are mainly the owner or
owners, mortgage and immediate ne;ghbors, with
perhaps few bidders wanting 1t for some special
use, the general pubic as rule regarding its sale
withdrawal with Indifference. or course there
are exceptions where property OF peculiar kind,
scarce and difficult to obtain, is put up, where the
interest is more widespread. Of this latter nature
was the offer, last week, OF the
DOCK AND WAREHOUSE PROPERTY
in Brooklyn, known as the Wall street stores A, B,
@, and E, withdrawn upon a bid of s25O,OOO. This
property, 1t should be remembered, has front
on the East River OF 843 feet, extending
back to Furman street at an average depth
Of 2sS feet, and Includes the warehouses; piers
bulkneads and water rights offered as an absolute
fee entirely independent Of the control OF Dock
Commissioners or Harbor Masters. When we con-
slider the rapidly growing commerce of this port
attested by our export to Great Britain alone
mainly from New York; OF $500, 0OO 600 during the
past fiscal year. and the rapidly increasing demand
for greater steamship facilities, we wonder at the
smallness Of the bid and seek IN vain for an expla-
nation. The river front of Brooklyn Is virtually the
river front OF New York, and offers the same con.
yenlence 10 commerce. Its increase In value should
be cOrelative, ana they who the soonest recognize
this fact will find the surest return for investment.
Whatever slight difference may be supposed to
exist-and 1t can be but littlo-wiil be wholly re-
moved by the bridge, the effect OF which in this re.
Bpect will be to make
THE EAST RIVER A VAST BASIN,
capable OF containing the shipping OF the world In
this connection we beg to call the attention OF the
Legislature to this important subject, as it applies
to New York, and the duty resting upon them OF
the ons slorm powers should
brought INTO reguistion 70 carry out the liberal
plans ALREADY ADOPTED Let General Mcclellan be
means at his disposal for the accomplishment OF the
much. needed Improvements. No one doubts either !
already demonstrated and for the former we have
no doubt that many merchants or New York would |
THE TOTAL SALES LAST WEEK
were only trlfle over haf million dollars as |
SCENTS Brooklyn property. $4,000 Of that
at Mott Haven. wesichester county, Nv which, iSis
was to nave taken place, was stopped after the sale
Most Of the property disposed Of last week was i'm
proved, ana mainly upon forced sales.
THE PROPERTY OFFERED THIS WEEK
is mainly Of the same character, and presented In
the same way Offory Lone separate invoices COM
as w a the ss wenS
two have the character Of legal sales," whether BY
sne nsaocs oi Sema or IKE
nary way. None OF these call for more particular
notice now. This brings US back again TO the SUBJ
tect0f
which, as we have more than once stated, Is the
in this and adjacent cities. The Legislature nos
aimed, apparently, at doing something towards Sc.
labors nave been without result SO far as the pub.
lie are concerned.
in We present situation Of affairs the Beach
Pneumatic Bore scheme seems to have addressed
itself with most favor to the Senate who have also
would yossDy impressed BY the
ss9a SsasEs s. Ass s0r S on On as
posed to the Beach Pneumatic and coquettlng with
the central Underground people. THIS Is road
aavs Sssy years EsE
opponents assert That they failed TO erect such or
aHe nf % sr .a
EaSS Of enterprises has hans is OWN par
Of Erie from the neI d Of 'I prohtapI e'aw sn
iicipatlon the members are bnsiiy playing
but little to be looked forward to from the action
Of the Legislature upon any OF these schemes at
present-acircumstanc not so much to be regretted
In view OF the fact that not any, nor oil OF them
combined, would, II practicable, I'LL up the measure
THE GREAT PUBLIC NEED,
as set forth by the HERALD In recent article, VIZ
viaduct road either forked or In the shape OF an
from The Battery or the CITY Hall TO Har.
lem on the one size and Spuyten Duyvi Creek on
the other me special advantages which such
tnen pointed out, ana are, indeed, SO apparent as
not TO call for repetition. The Legislature oil 1871 |
such road, with the most liberal privileges, per.
mittlng short tunnels and surface sections when |
erea To- e eap aaS
subscription OF $5,O000O0 fro the city to aid In
Inc construction OF the work. What has been done
perusal Of the subjoined circular may afford some
clue TO the reason:--
vIApucT RArLwAY-ApDREss TO THE PUBLIC.
The Executive Committee of the reconsirac,si soard OF
have examined carefully time would allow the mott
l"P IT. project, for rapid transit through New
charter whatever the who tho
Of distance ssGSo cond pan was ana vs
iaSes and a yadast can be built win combine adyan
however that the unduatng grades OF he island viii
SssTf then: Si sss Sq Pa'
Trt-The faht of w at the following conclusons:
ssS"sd .san
oan Is % osy be resOed when the cos, Of land
SecoadIhe road should start with dous,e track from,
or nea d he me aS and down side city,
t ,sss sas mould MAKE round direction and
40