, 1872-11-03
The Supply Of Money to Loan on Mort
gage.
Important Sales---The Tenant
Question.
Summary of Transfers for the
Week.

4
the requirements Of trade in this city during tht
next year, re find that there is actually more in.
quiry for, and more disposition to invest il
"ineide" property available for business
buildings, than there was month or Two ago.
when the amount Of money seeking some kind
OF safe and profitable Investment was
| twice az great as it is now. The
only plausible explanation Of this is that capi-
just beginning to realize the fact that Chicago
il nearly rebuilt, Oh 8 grander scale than it e1-
i1ted before the FIRE. They see that the COM
tory, but that the railroad system Of the United
States must necessarily make it one Of the great
est cities of the world In view of this fact, any
excess of business buildings that might make
low rents fora year or tno could ecarcely last
longer than that. The trade Of Chicago grows
all the time, Notwithstanding the disabilities Of
want OF capital, and the hard-pressed condition
Of many Of our merchants here at the pres
ent time. Unlike other cities, the trade
Of Chicago does not depend on the
existence OF g. few representative firms. II the
most prominent firms in Chicago wereto fail this
year, new bouses would Immediately take hold
Of their business and carry it along on greater
scale, because the business comes here to be
done. The location draws the trade, and also
the men and tile capital to do it. II We should
have decline in rents Of business buildings, in
consequence of tho erection of too many for the
Immediate demand. the low rents would only en-
courage more people to 60 into trade, to start
new branches OF business, and thus stimulate
the growth Of the trade of the city.
MONEY ON MORTGAGES.
Within the last few weeks there has been
large falling of in the amount OF money offered
for loans on mortgages Of frst-clasg busineaa
property. Many OF tie loan agents estimate the
fnllfng OF at one-half, and The rates for such
per cent. per snnum. The demand, However,
has been enormous and late transactions haye
been On q large scale. Among tie larro transac-
tions that have been made during the last week
Of Two, We note that the Couch estate hasbor-
rowed $3.50, 900 on mortgage OF tie fremont
Houge pIoperty, to Tebnild that hotel.
tho Sherman estate has borrowed a400. .000
On the new Sherman House: and MR.. r.
Y. Scammon las Just borrowed 5000, 900
on business property. All these loans were
made nv the United Stataa MORTGAGE Comnanv
al per cent gold interest. For apy amount
under $4,000 the rates are now not less than 10
Fer cent currency. besides agents commission.
SUBURBAN LANDS
are still in active demand. The same general
viewg in regard to the commercial position of
Chicago thst influence The demand for:business
property IL mentioned above, are probably the
foundation of the confidence in the future value
Of suburban lands. The business in this class OF
property is, however, eminently speculative, and
liable to reactions at any time, though even il
these should come they would only be OF tempor-
ary duration and would be the means OF sitting
out good many speculators who are now oper.
atng largely on no capital but cheek"
. INDICATIONS or VALUES.
feet On tie northwest corner Of Prars aYen1e
Meaara. Ellison 4 Foster sold at auction' s Ii, ths
week, Il lots at Lawndale; amount: Of sale
t25,1l7.42; average price per lot, S612.62;
average price per foot $24.50; average price ner
acre. $6,l26.20; so feet on Forty-frst street,
between Cottsge Grove avenue and Dre1el
Boulevard, ut $1,000 per foot; 2lots, l9x21,
each containing acre, in Halls Subdivision,
south OF railroad, at 81, ,240 per acre; 10 acres
in South Shore Subdivision, 81 PTS per acre.
lots in Humboldt Park Addition, On the west
side Of Humboldt Park, this week, to the amount
of $1o2,0o0. The aggregate sold was about Is
acres, With 2, 600 feet Of street frontage.
to Messr5. A. 4, L. S. Pierce for SITS, 900.
TEE TENEMENT QUESTION.
The relations OF landlord and tenant consti-
tute subject that should attract the attention
of our entire community, with view to secure
a better system than that which at present
holds in check one very important feature in the
development of our city. We place the land
lords and tenants side BY side in this mention.
for both are alike interested. We do not pro-
pose to discuss in detail the legal defects OF the
present provisions Of our statutes, etill less to
undertake statement Of their formal and COM
pIete remedy. But ne urge, what every houee-
seeker is aware Of, the present and growing
scarcity Of tenement houses, and point to the
tenemenf houses are constantly decreasing in
favor It is not to be ignored that It is
difficult to find sale for tenement
houses, and that their erection is COM
ing to be one of the last and least favorite
uees of capital we are aware that the dis |
cussion of = movement that shall bring about
q different state OF things is liable to be in
etantly construed into an effort to aid and en-
force The expressions Of landlords, who seem to
be accepted as the embodiment OF all that is |
erasping and cruel. But the hard-hearted land |
ford is helped by this very scarcity, and whatever
viii tend to increase the number Of tenement
houses, so far as it is successful, removes the |
opportunity for the exercise Of greed.
It is claimed that in Chicago the house-own- |
e1's interests are less protected than those Of
anv and all others who supply the demands of /
that he is met and opposed bv a |
different snirit than that which controls other |