, 1874-04-20

TINT tho negotiation OF heavy saios dragged
nlong slowly, and most Of them still hang fro.
III sa1oB, ronts, loans, and buildlng small opera-
tlons nro the most humorous. Tho now stores
thRt are boing erootod aro In almost ovory casc'
intended for tho occupancy OF retail tradosnen
at distance from tho centro Of tho city. Tho
loases and storos that rent tho most onslly nro
those hold at o moderate iguro. With
few elegant exceptions, like thoac
at tho corner Of Wabash avonuo
and Twonty-Rixth street. tho dwelling houn-
Oh tint aro In erection aro for tho uso Of thoHo
who want comfortable homes, but want them
cheap. Tho majority Of tho loans sought aro
for BumB less than $4,000. TheBe faots show
that In real osnto "a In every Departmental Of bua-
ncas, pooplo aro going slow. Largo. Bpeoula-
tions aro lifolcaa. There is money, and plenty
Of II, in tho hnnks, and In the hands Of indiyla-
ual dopositors but It Is In aoaroh Of safety hrst
and large profits afterwards.
It is expected that Rt tho Council mcostug
Monday night tho Committee on Wharves anu
Public Grounds will make report iii favor OF
advertising for aalo tho throo blocks Of ground on
tho lako front, about which there ia now 90
much contention, and also tho buildings md
ground now occupied by tho City Government,
on tho corner of Aanms md LaHnlle stroots.
During tho past week appraisals Of tho latter
picce OF property have boon mado by the City
Comptroller, Board OF Public Works. and prom
inent rcal easato dealer, which foot up e271 900
for the ground and $4,000 for tho buildings
making $780, 600 In NIL. A p1at OF tito property
T the ayfag tue psG9gy
Six on Quincy, fronting tho Grand Pacific Hotol,
and three OIL tho alley fronting tho roAr Of tho
Lnhesldo Building. The resolution proposes
BY The sest oty psSa Tor aao but tho bs 70
bio mcrofy provisional, that is, not to be accoptod
unlcss thoy are satisfactory to tho City Govern
|Anent and to tho business community.
city shall DO oirooted it would nocoaaltate tho
| ronting Of other quarters moanwhilo. It Ia
argued that reaHon for this proposed notion OK
iHta independent Of any Immediate stops for tho
building Of o now oourt-Houso, In tho faot that
the city Ia " ehinning floating debt OF 81 800,
000 and paying high rato Of interest thoroon
which another cramp in the money nnrkot might
ronler It impossible to carry any longer. Tho
arc now held aeem to mako 1t NECESSARY ut oil
evente to procure more wholesome quarters for
thom before tho warm weather sets III.
The Cincinnati Gasette and othor papors, COM
menting upon the salo of portion Of Mr. J. Y.
scammon's property in this city tor leas than
ono-half OF tho money TINT had been borrowed
On It, assume TINT this iB ovidence Of tho decline
In value Of roal estate generally In Chicago.
They orronoouBly assunle TINT tlis property is in
the business centre of Chicago, and leave tho
Inference thnt the doollno IN value is general
aud not special. The rnistulso Of theno papers is
| in the supposed location Of this property. At
the timc Of tie fire tho corner Of Congress
street and Wabash ayonuo Was half mile bc-
yond tho businosa districts of the city. The
land was used by Mr.. scammon for n gar
! den connected with his private residence
on Michigan avenue It was good residence
property, but nothing moro, and It conasitusod
the southern limit Of tho fire In that qunrtor Of
the city. The whole district previously oocu--
Alr. scammon and several Of his noiRhbors con-
coiyod tho idoa that BY rapidly covering tho
neighborhood with buildings adapted to COM
nent business contfo Of the city. Convinced Of
this, Mr. Scammon bravoly invested his means
in improving tho corner. OF Wabash ave-
nuo apd aa Congress- s.,, street. As m hns boon
dollar on transferring, to TINT avenue
the censro Of business in the new Chtcago. He
lost the bet. His anticpationa llaye not been
verified. Dnaincas generally returned to ita old
| quarters, and whenever 1t has extended 1t has
| gono in some other direction than towards Mr..
scammon'a property on Wabash avenue mud Com
greHs street. That locality IL no nearer the bua-
mess centre now than before tho fire; and what
by tho extraordinary change that has taken
plaoo in property OF thae character. It in beyond
tho ciroumferonoo Of business OH the one hnnd
|
| tho price at which 1t aold Ia representative Of
nothing except IN unfortunate Investment Of
money.
Messrs Kayser and Quincy, Directors Of tho
Baltimore l. Ohio Railroad, have boen In tho
city all Tho week trying to secure the right Of
way into Chicngo, but finding that no satist &C.
tory arrangements could be made, they have re-
turned to Baltimore. Tho Company being anx-
ious to complete its line into tho city in time for
1
up the idea Of coming in on q line Of their own.
They have determined to- accept the offers
made by the Michigan Southern and I'LL
| noiB Central Railroads, and will come over tho
track Of the former road from Pine Station, Ind,
to Grand Crossing, from whence they will como
over the track Of tho lattor rond into tho city.
SUMMARY OF TRANSFERS. ron THE wEEH.
The following s the total amount Of city and subur-
ban property transferred during the week ending
Saturday April 49, City property, number Of sales 123;
consideration & o24 $3.50 North Of city limits, number
Of sales consideration $40. South Of city lmts
number Of sales, 33; conaideraton. $1o3,3s4. Total
salcs, l02. Total consideration, 81, ,16s.240.