, 1874-07-06
REAL ESTATE.


las made this dnll week in real estate. It
seems hardly worth while to attempt to charae-
torizo tho market, for there ia temporarily no
market to speak of. Real estate can claim no
immunity from the du1lnoss that comes to other
departments OF business, and ia now confeaseily
passing through period Of inactivity. Real CO.
tate la essentially one Of tho sncondnry depart
ments Of businoss activity, not IN the sellse that
It is Of secondary Importance but that It's
movements and its prosperity, or,the,reyerae. de-
pend upon tho results Of other business. 1t is au
AXIOM or REAL ESTATE POLITICAL ECONOMY
that landed property il the last to rise and tho
last To fall. 1t always follows when trade has
beon brisk mud commercial ventures have been
successful. Investments in real estate are made
as receptacle for the profits. When depression
follows speculation, real estate reBists tho de-
cllno more successfully than leas stable com-
moditieg. For o long time values generally hayo
beon shrinking. Labor las fallen III some cases
more than so per cent; dry goods have fallen,
iron aud hardware, clothing, groceries. commodi-
tics generally havo followed or sre following the
samo course. Real estate cannot expect to be
an exception. Moreover, it il to be remarked
that when all values decline there il not 60 much
chan ge Of VALUES rs change Of prices, The
change il
RELATIVE, NOT ABSOLUTE.
When the prices OF real estate will begin an
upward movement depends Oh several circunl-
stances. If the farmers have good crops, and
the resultant fall business meets the expectations
that arc now entertained. aud Congress does
nothing next winter to deranga th8 currency and
upBst all business calculations, tliere will beyond
a doubt bo prosperous timos III real estate III tho
spring.
Whether speculative bonyancy recurn 10 soon
Of not tho real value Of Chicago landed property
is steadily on the increase. Speculation huctu-
atoH, but while tue city grows real estate values
must grow: Within the active manhood Of per-
sonB now living this city has increased from ono
whitc-mans log hut to its present proportions,
and, as i!eosaid, ''It still moyes" Mr. James
Grant, the Intelligent author OF history Of
English journalism, and for many years ths
editor Of the London Morning Chronicle aasorta
tie marvellous deyelopment of Chicago 10 be
DUE TO THE DIVORCE TRAFFIC,
which attracts people hither from all tho States.
There are ono or two otlcr tritling forces at
work, Like the Northwestern giain trade, and
tile concentration of railroad traffic, which, with
alr. Grants divorce business. will go on build
ing up the city In tie future as IN the past. The
mighty agencies that hayo gathered hera q
population Of half million and 8 trade OF hun
dreds Of millions IN so short q time cannot bs
arrested, aud whilo they continue in operation
they build up real estate.
During this week thcre has been marked In
crease in the number OF inquiries, and although
little in thu wa; OF actual tranafeis Inns esuIlol
the dealers are corroapondingly buoyaut.
The sa1es OF tho Iowa Hnilroaa Land Com
pauy for June were "a. .389 15-l00 acres, to 252
purchasers, and for m aggregate, including Ga
town-lotn, OF @l5B, ,9G3.1B: casll receipts Oh ac-
count Of sales and COLLECTIONS for Same month,
e8l ,326.98. These lands are Of tho government
grants to the Iowa lines OF tile Chicago 4
Northwestern and Illinois Central Railways, and
ars situated in the Wostern portion Of tho State,
Which is now being rapidly settled and brought
undor cultivation by farmers from Illinois aud
older settled portions ot the Wese desiring
larger fielda Of enterprise.
REVIEW or THE LOAN AfAAHET For JUNE.
The consideration exprossed By tho itlHr,1'
| monts filed for record during tho month Of juno,
1874, waa only aoms 5000, quo losH than tue eau,e
| month Inst year. This fact is worthy OF remark
| inasn,uch aB previous months OF 1874 have beer
| far bol,inl tha corresponding months OF 1879
| and alHo becauae Of the generaily-reported ak
coptoual dullneBa OF business In this department
| the present aeasou. Il comparison OF tlroe
| months' transactions substRntlates this state
ment.