, 1873-12-01
REAL ESTATE.

real estate In this city ns now unleas twas during
tho extreme stringency Of money In December
Of laht year. Tho causo, however, Of the small
volume of sales now is the Same hB it was then
-stringenoy Of money It may be accepted ns d
general rule that, whenever trade is extremely
aotive,-whon large crops arc being moved and
money ia tlght,-real estato buBinoas iB always
dull, for tho very good rcaaon that those who
have money can temporarily mako more by
lending 1t at high rates Of interest to
the mercantile community. Tor q month past
money has commanded from ~ to 2 per cent
per month On loans for thirty to ninety days on
tho best collateral socurity in this market. Tho
money Of tho banks being nbsorbed in the tram
saction of the immense porls-packing busipeBe Of
this fall in Chicago has obliged capitalists and
speculators to borrow in tho open market at high
rates. T!Ssac rates of interest nfford quicker
profts to thoae who lavo ready cash than the
slower movement of tho advance In renl estate.
Tho capital that seeks Investment in
tho latter ia only tho accumulated
profits Of trado. This class Of capital neyor be-
comes 80 abundant as to seek permanent invest
ment until after tho greatest activity Of trade ia
oyer; consequently, tho greatest demand for real
estate is usually IN January, February, and
Maroh, whom tho disbursements OF the January
dividends has made a surplus OF capital TINT il
not required in ectivo trade in commodities.
But thore Ia reason to bolievo that tho domand
tor real estate as an Investment for auch surplus
,apital this year will begin earlier than
usual, for many Of the usual avenues
for Investment do not afford the usual
Inducements United States bonds arc acarco
and high, and, as for railway atocka md railway
bonds, there is less confidence in their yAlue
than tNsrs used to bo. Tho stocks haye already
boon adlanced 30 largely by the speculative re-
action from the panic that comparatively little
conservative capital will seek Investment in that
direction. A wcll-known banker OF this city,
who has just returned from New York, says that
already the demand for come moro conservative
aud safe investment than stocks and railroad
bonds has caused an advance in the
prices Of nearly NIL real estate In New
York City and its suburbs. It is also
probable that tho quick recovery from the
panic is convincing people that tho United States
WAS in fact never SO rich as now, and that now
that legitimate business is recovering 80 rapidly
there will bo greater concentration OF wealth
in tho great commercial cities Of tho Union
within tho next year than ever boforo. The col
lapse OF speculative schemes which careful peo-
ple feared 80 much, has come and passod, and
we are none tho worse for It. Chicago, as =
city, has certainly been benefited BY it, and now
that thore is no suoh threatening cloud in the
horizon as the former apprehension, Of
the COll4p66t II Ee0EQb IGAhCunDlu LulL uA
soon as money becomes abundant in this mar
ket, as ii undoubtedly will within the next two
, months, there will DO as grcat domaud for ronl
estate iu this city and suburbs as ever before,
. mud probably at better prices.
OF the various enterprises for
SUBURBAN IMPROVEMENT
in all directions there is not much to bo Said just
now, except that in every caKo things are pro-
crossing oven moro fayorably than could be OK
peoted In such wintry weather and uudor such
financial difficulties as haVo prevailed for some
time past. At the
Eonrnw zsTERN oAn-s11oRB,
building iH still progressing rapidly, noswlth-
standing tho Indictment weather. Lots are daily
being sold to mechanics who want hoMes, and
when spring comes many people who lsaye not
visited That quarter ainco lust fall will find that,
to tloir BurpriHe, Q new town has grown up as u
by magic during the winter.
At ENaLEwoOn
there is an equal activity ind tho long string Of
houses that stretches down Along tho Hock
coming continuous to Washington Hoights by
The building at South Englewood, Auburn, and
Normal.
At conNELL AND BouTn CHICAGO,
thore IL an equal activity In building. The work
on tho now railroad from Park sldo Station. on
tho illinois Central. to South Cl!cago hRs boon
temporarily suspond0d, but it will be completed
before npEing. and in a. probability WY be tue
route used by the baltimore u Ohio Road for
coming into the city.
THE nE1T RAILROAD,
few days ego contract was s|gned between
Measrs. Snyder l. Lee, on hehalf Of certain
Railroad Company, on the other. in which it ia
agreed that, in consideration Of $4,000 to be
paid to said Bolt llailroad Company, they will
construot their track from the Rock Island Rail
along 1the centre limo (from east to west3
before tho arst day ot May. 1874. This bona'
lao fr uci1tf1 hall frf NATL 0ou