, 1873-11-30
The ~ Monetary. stringenoy Causes
Dullness in tie Real Estate
'"- - - Market.
IN Advance In Real Estate in Now
York, and Its Cause.
Probabilities Of the Same Expert
p ence in Chicago.
Progress of Suburban Improve
mcnt Schemes.
Recent Sales Of Lots and Acres.

Recent Sales Of Lots and Acro5.
There has scarcely boon timo in two years
whom thcro 80 littlo being done in tho Ba1o Of
real oatato In this city now, unless twas during
the cxtromo stringenoy Of money III December
Of last year. Tho cause, howoyor, Of tho small
volume OF salos now iB tho Bamo as 1t was then
-atringonoy of money. It may be accepted as
general rulo that, Whenever trado is extremely
active. when largo crops aro being moved and
money is tight, ,-real estate business ia always
dull. for the very good reason that thoBo who
havo money can temporarily make more by
louding it at high rates Of iutorost to
tho mercantile community; For month past
money hns commanded from II to per cont
por month on loans for thirty to ninety daya on
the bast collateral security In this market. Tho
money Of tho banks being absorbed in tho tran
aaosion of tile tmlncnso pork-paokipg business Of
this foil in Chicago las Obliged capitalists aud
speoulatora to borrow In the open market at high
rato8. These ratoa Of interest afford quicker
profits to those who lavo ready cash than tho
slower movement of tho advance In real ostato
The capital that seeks Investment in
tho latter is only tho accumulated
profits of trade. This class Of capital novor be-
comes 30 abundant aB to 8oek permanent invcst-
mont until after Tho greatest activity of trade ia
over consequently, tue groatest demand for real
estate ig usually IN January, February, and
March, when the disbursements Of tho january
dividends has nude surplus Of capital that il
not required in activo trade in commodities.
:; But there ia reason to bolioyo tlat tho lomand
for roal estate as an inYostment for such surplus
capital this yoar. will begin earlier than
usual, for maDy Of tho usual avonues
for Investment do not afford tho usual
Inducements !; United States bonds arc scarce
and high, and, az for railway stocks md railway
bonds, there IL losa confidence in their value
tlan thoro uHod to bo. Tho stocks havo already
boon advanced 80 largely by tho speculative ro-
action from tho pauio that comparatively little
conservative capital will seek investment in tlat
direction. 4 woll-known banker Of this city,
who has just returned from Now York, eayB that
already the demand for Houo moro conservative
and sate Investment tbnn stocla mud railroad
bonds. has caused an advance in tito
prices Of nearly oil real eatato in Now
York City and it's suburbs. It il MISC
probable that the quick recovery from tho
pane is convincing people thatthe Unitod States
WAS IN fact mover hu rich as now, aud TINT now
that legitimate lusIucss is recovering 30 rapidly
there will be greater concentration Of wealth
in the great commercial cities of tho Union
within the noxt year than over before. Tho COL
lapse OF speculative achomca which careful poo
ple fearol SO; much. has come aud passed., and
wo arc mono: the worse for it. Chicago, aH q
city, has certainly neon benctltad by IT., and now
TINT there iH no suc, threatening cloud in tho
horizon rs tue formor apprehension Of
the collapse, it secinB reasonable Tint aa
aoon ns money becomes abundant in this mar
ket, aa it undoubtedly will within the next two
mouths, there WILL DO as groae demand for roal
oatate H.. lis city and suburbs Us over before,
and probably at batter prices.
o. tho S'r'ops aogepsg sptsFRs5see Eraoysazsr for
In al directions there is not much to be said just
crossing oven moro fayornbly than could bo e1-
pected in sueh Wlntly weather and under such
time pant. At tho ;
NORTHWESTERN cAn-suoPs,
building Is atlll progressing rapidly, notwitll-
standing tho Indictment weathor. Lots are daily
being sold to mechanics who want homes, and
when apring comes many people who have not
visited that'quarer since last fall will find that,
to thor surprise, now town has grown up as i
BY magic during tho winter.
AT ENaLEwooD
there an equal actiyity, and tho long string Of
Island Railroad to that point is Gradually be-
coming, continuous to Washington, Heiehta by
Normal.
AT CORNELL AND souTu CHICAGO, '''
there ia au equal actiyity iu building. d'he work
on the new railroad from. Park Side Station. on
the Illinois Central. to South Chicago has been
temporarily suspended, but it will DO completed
before spring, and, in all probability, will 10 tho
route used by the Baltimore g. Ohio Road for
coming into the city.
:. :. THE nEnr RAILROAD.
- Afow dnys ago contract was signed botvoen
Measrs. Snyder i Lee, on bellalf Of certain
nropersY-owners, On the ono mart. md the Belt
Railroad Company, OH tue Other, in Which it is
agreed that. IN congidoration OF $4,000 to be
paid to aad Bolt I.ailrond Company, they will
construct their track from tic Rock island Rail-
road, Just north Of Washington Heights,
along tho centre limo (from east to West}
Of Soc. &. Town 81. Rupso ID oast,
boforo tile first iay Of MAY, 1874 This bonus
to the Belt Railroal COMPANY III given by tho