The New York herald., 1874-12-14
The Current Situation in this
Market.
BUILDING OPERATIONS UP TOWN
Are We to Have q New
Departurep
Proposed Extensive Sale of City Property By
Order Of Comptroller Green, for I'm
paid Assessments Due on
Improvements.

Tne subject OF real estate values In this city n
one which can never fall to be OF interest to very
large proportion OF our people, many OF whom hn0
In this class OF investment the surest road ia
wealth aud ease. While the owners Of other de-
scripiions OF property are daily exercised by tho
changeful influence that operates upon the street.
producing from time to time wide nuctuationsJ
the owner OF real property has In his possession 4
guarantee OF stability. an assurance OF ultimate
advantage, which but few other descriptions oJ
property can furnish 1t Is not surprising. then,
to note that a period OF general depression in
trade OF serious commercial embarrassment, Of
widespread disaster and such severe shock to ths
general credit OF the people has been tided over
IN the real estate market, not only without panic
but without any serious loss OF confidence. 1t u
true there has been much liquidation. many
FORCED SALES,
IN which the owner OF property was compelled tog
sacrifice 1t in order to accrued and accruinG.
liabilities. This is but natural result OF the
abundant faith which men have in the safety Of
real estate investment, that they are led readily
to discount its future appreciation without sum-
cient consideration OF their own ability TO mee6
the chances OF some sudden arrest OF this upward
movement. Legal sales, whether in foreclosure OF
otherwise have been the feature OF the past year'a
business ana even Tor the current week we havo
offerings in this city of twenty-nine parcels to be
disposed OF under legal authority. This process Of
settlement, which has been in progress now Tor
long time, must have nearly resulted In eminat.
ing from among the holders OF real estate weak
men, who are always source Of danger to thu
supporr OF values In city property, alike becausa
OF the ever present chance OF their being sold out
as well as OF their inability to orward improve.
ments. With
REAL ESTATE IN THE HANDS OF MEN F1NAScIALLA
SOUND,
and who are able to meet the ordinary~chareeS
upon such property In the way or taxes and as-
sessments, promptly, 1t only needs goveknment
OF ordinary ability and purpose to push forward
improvements The market certainly does seem
to iake hope from the prospect OF q new adninis-
Will De revival Of activity III respect TO such I'M
provements that will restore to real estat, sone-
thing like It's old preference as an Investment
In Efforts at retrenchment and reform the municiS
pal powers tnat be seem to have overlooked the
fact that
A LIBEsAL EXPENDITURE IS SOMETIMES rHEsrRrIs1
SAVING,
metropolis and the increasing rivalry or othe7
cities always present tcacn nlm thls lesson
Win the accession u of1lce OF Mr.. WlckIa m new
policy IN TINS respect is looked for, ana the nope6
ana expectations built. we trust not too comb
portant factor IN the problem Of future real estat
values.
rors OF the existing regtane, with the announco4
ment OF a sale on Tuesday next, by order of Comps
assessments for streets, avenues and park open.
ings widenlngs and extensions" me lst Of prop.
assessment has been made. and 10. tho non pay;
PARK. INTO which spade has not vet been driven
BY way OF Improvements; the next Loglslasurs
poser1upsss pow an the proceedings s thus fas fas
hsa 70 '.na create tnls past or may dedicats
pssae pss sas esss e. s
an assessment ,or certain work which mas not lot yes
been undertaken and may never be, inasmucn az
less other property up town besides that ASSESSED
for Mornin9slde Park similarly burdened with as<
sessments for improvements tnat all the evidence
goes to show are not even Within the contcmpla2
THE PRESENT coMPrRoLLER,
who, nevertheless, is credited win having orr
dered peremptory sale, as he wanted moueys
siarine instance ofimbeciis adnlinstratton Tser3 M
was talk, too, IN Pine street during last week Of
1s an 70 restrain the
even yet possible thts may be done.
There IL noticeable an
INCREASED ACTIVITY IN RESPECT To- BUILDINaA
OPERATIONS
which reflect that unswervlng confidence in theg
future which Is SO marked an instinct among real
estate Investors. Witnn the last three weeks there
there have been commenced IN the districy
bounded by 125th and 1881 streets and Fiitn and
Seventh avenues lorty-three first class four story
brown stone front houses OF an estimated value,
to SIS 900 eacn ana II Is stated some nifty sixty
mole are contemplated IN the same neighborhood-
Those already commenced are located as foiiows:-
Five Sixth avenue, between i25h l26th streets
Twelvc on sixth avenue between i2Sh and Iuts
ne si sss sn @ ssc s between Sixth 'nd Seventh ave
Isn sl J1tn street between Madison and Fifth
nuss ssh x iss Sh and sixth av'
sixth
On l2sJh street, between sixth and Seventh ave-,
nues, one OF the nandsomest public school odificey
In the city, erected the Old court house ground
Is Just approaching completion ImpxovcnentS
the duiness Of the past couple OF years
THE OLD SPIRIT OF ENTERPRISE
has not died out OF the real estate market but n
daily reasserting ITSELF In corroborallon or shis
the following abstract from the market review 01
the Rent Estate Record shows now tins situation II
rejected IN purely trade circles. We quote:--
Trade is settling down INTO its customary channels
for the winter season and prices OF many kinds ma.
terai are seadylng with purpose OF ~
upward movclnepthas already begun. and certair
dcaons heretofore noea Ia General tere uosn,ns ous M
new, as the current OF trade sor the mas been
protacted operations viii probably hrins e aver
aye Of the month up TO, II not IN excnhs, shv
surprising, the summary the year cones 70 Ss
written 70 nd that business Interest," have nor suffered
been less spasm0c speculative mt in bui1d-
s ors m wan a m now OF
and perhaps makiny the aggregate very sair record
times ideas of profit. the opiSlo"
seems to be growing that GENERAL results hay been fair
trust when the balance shees are made that thia
will prove be the
1t Is never safe to venture on anything In tue
nature OF prediction. bur stil the most cautious
may apply the lessons OF a party experience ro
enghten them regarding the possibilities of thu
In the afTars OF men winch, taken at the HOOD
leads on TO fortune" there was a pnilosopny OF