The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-01-27
REAL ESTATE MATTERS.
The Industrial Exposition to Become . Settled
Insttution-Property Enhanced by Its Estab-
lishment-The Estate Of tho Late E. K.
Collins Cut Up Into City Lots
Sales Past and to Come.

on the Exchange, but with brokers and Dealers
Very little can therefore, be said on the lew facts
that have happened. Everybody, however, Is salts
fed that real estate matters will assume consid-
cradle life In few days, and where dearth OF
activity exists now hum OF business viii be
apparent. Ho3
ExEMPTING MORTGAGES FROM TAXATION
Our argument IN favor OF abolishing the tax on
mortgages published in these columns ON the Goth
instant-has had most benencent effect Every
body speaks about 1t, and the bills now before the
Legislature touching upon this topic stand first
rate chance OF becoming law very shortly. As
soon as this act becomes fact capital viii now to-
New York by the thousapds and ind invest
ment in property, instead OF being unprodnc-
tive. The pOssessor OF means will not
invest his Riches In mortgages, which only net
MIN an income Of about three and half to four
per cent annually while United States FIVE
twenty bonds bring him almost seven per cent
Clear without any taxes to pay. 1t Is no wonder,
then, tnat New Jersey and other suburban property
Is held at very high rates, because the arbitrary
laws OF our county and the high taxation generally
compel investors to go elsewhere
THR CONTROLLERS AND HIS DUTIES.
Furthermore, our real estate operators are COM
plaining very bitterly about the hardness of Comp
tr0ller Green in not paying the bills OF the city
promptly and this TACT has likewise q great
tendency to make business dull. Numerous COM
municattons on this subject are addressed to this
office, and, In Justice to the many property owners
on the line OF Broadway ana Riverside Park, we
publish the annexed interr0gatOry, put to Comp
troller Green for his answer. Our correspondent
an extensive property owner on Broadway-wrltes
as 1ollOws:- st 'rH tat
To EDITOR THE HERALD
Will permit me, old subscriber to direct attcn-
ton to what in my Judgment, is very grave mistake
the part Of our worthy who SHOULD be care
in my Ss fully sns1 70 be inst as i
I Ss: $1 s sSes =? yS
n 1sn Pc s a Rs. ne
iyss, WIZ, xo:;s e. =,
interest and lie damage caused ty ne delay thsiT
alone + Nyer and ey
T. fat Us shs q the sss 70
M @ gRSaa S r.
Lin o MI sSss tor s
NV ~ ~ '''''' 'N 'sA wy ''''sssu BstRrBER.
1t is only about three weeks since Mr.. Green. in
an interview with the writer OF this stated that he
was preparing to pay the awards for the above
named improvements at once, and as this TACT was
published by authority from the Comptroller he IS
bound to make good his promise.
THE INDUSTRIAL EXPOSITION.
asday ss
hibition" Ii to take place will have expired and II
by that time the iul amount OF the purchase
owner, and it ID matter OF doubt whether there
is plot like the one now engaged for the purpose
No. 5X Pine street, where the downtown 0mA oia
the corporation is located informs as that there
not the slightest doubt Of su1lciency OF funds
make coed the purchase, as there are private
parties who stand ready to advance the amount
needed In case Of necessity.
According to this statement we may accept the
establishment a a n.
tainty. The eight blocks OF land included IN this
purchase are eminently worth all that ia asked Tor
them, and can at any moment be sold at an ad-
vance Of at least twenty per cent. The solid men
leading the AFFAIR, including Governor Dix, General
the R'srai NeaO YorEer, and other weli-known and
spirited citizens are guarantee sufficient that the
project in their hands is sure to be prosecuted to
THE RESULTS OF THE ENTERPRISE.
1t Is easy to deduct the results accruing from the
establishment Of this laudable enterprise. Real
estate for miles around viii feel the effects, which
can only be for the better. Property Of all kinds
vicinity must be built upon, business places
vii! spring up IKE mushrooms all around.
insux of Strangers who viii arrive rS Tor isr
new hotels win have to be erected up town. Thus
almost every branch Of industry will be more or
less affected and business Of all kinds be improved
in proportion. In anticipation Of the construction
of such an establishment, Q company Is now FORM
ing to erect first rate second hotel on the ten lots
street and PARK avenue. with an entrance UPON
Forty-hrst street for the reception Of supplies and
exit for the help. The location Of this hotel is ad
mirable, and II properly conducted must earn a.
handsome revenue to the proprietors.
ESTATE OF THE LATE Il. K COLLINS.
of every American citizen to point with pride to-
the noble steamships Atlantic. Baltic, Arctic and
Gon sesdeS in on o. ns sDS
fronting on Long Island Sound, which has become
quite famous. Since the decay OF the American line
nf md fhn inf "a n a
Westchester property has passed into the possess
sion OF few gentlemen, who organized them.
President, Charles IL. Murray Vice President, John
Fowler, Jr., Secretary, and Mr.. Thompson J. s.
Flint, President Continental Bank, Treasurer. This
company. possessing ample MEANS intend TO carry
out their undertaking., which is TO provide a
suburban residence for those who desire home in
combined. The name Of "Larchmont Manor"
has been bestowed upon the late Collins farm, q
very fine depot erected at which eleven trains Of
the New York and New Haven Railroad stop daily,
and to reach the shore, which Is o little over q
horse ene which si has BEEN m
operation since last summer. Some ten or
twelve elegant cottages are a nrs,;y occupied
now fitted up as first class hotel, Is filled up
in Summer to its utmost capacity. A park, an
OF Larchmont and . number OF other attractive
features form only portion OF the improvements
the Company amounts to $50 acres, ali OF which Is
laid out in building plots OF various dimensions.
Want Of room precludeS q more lengthy deScrlD-
zion of Larchmont Manor, which must be seen to-
be appreciated. -
PRIVATE AND PUBLIC SALES.
Several private sales have been reported to u.s.
Among them one by ". II. Raynor four lots on the \
north side OF 18th street, and four lots ll4tn
street, feet east OF Tenth avenue between that
and Morningside Park, to L. Phillips, for $33,oOo
by b. w. Traitel, III Broadway, one lot on east
side OF Eighth avenue 100 north OF 7th street.
25xI00, for $6,25O.
Pubic sales for the coming week promise TO be
very brisk. The most important will be that OF
the Post estate, to be sold by Muller, wilkins &
Co., on Wednesday, the 10Th instant. The follow
ing sales will be held at the Exchange
MONDAY, y.
Lot OF land 6d st, l25t W. 9th ay; r: T. Hope.
referee; ames NJ. Miller, auctioneer 25xlO05ft
Lot OF land OF Water st., 51S It, O. Montgomery
St W. NJ. Hoes referee; sanfe auconeer; 2aSxOi It,
TUESDAY. JANUARY 26
Dwelling and lot No 635 I'd av., between 10th and Dtb