The New York herald., 1874-06-15
EAL ESTATE,
Important Sales in the
New Wards.
Some Hints for Study During the
Vacation.

The story OF the past week is without features q
fresh interest in this market. We appear to have
entered upon period OF utter dulness when the
complete stagnati0n in respect OF free movement,
which commencel before the panic and has been
perpetuated since, Is to lose even the relief
Afforded by legal sales, slight as was that relief In
the matter or foreclosures which. In ninety-nine
cases out OF one hundred, compelled the m0rtgagee
to become a purchaser IN the endeavor to secure
the amount OF his mortgage. WHAT has been
said here before In reference to any possible 40
ton OF Congress upon the financial question be-
coming an element Of disturbance in this market
Is borne out so iar, and as no such element Of
sibe to consider again with more freedom
the points OF interest within the market
given AS to what might be done during the inter-
val before the next session OF the Legislature TO
viva vital Of ACTIVITY here. Something might mis- also DO
done to advantage in direction that has been
before pointed out in this column-viz..
SIMPLIFYING THE TRANSFER OF TITLE TO REALTY.
Thls would be OF immense advantage 10 owners OF
real estate in the loan market where real estate
is now handicapped with charges growing out Of
the difficulty and delay involved in It's pledge a.
security which IS very damaging 10 1t in the eyes
OF many investors Thus. real estate owner
seeking accommodation from an insurance COM
pany, Tor instarGe has to pay, no matter what the
rate may be III Wall street even If IT be as low as
two ana three per cent. lul seven per cent. But
THIS Is only small part OF its cost. The company
fully examined by the counsel OF the company,
which may cost US nigh as $500. although the loan
@ a OF h0t the viii be TO
anime the title. There are next
BROKERS' CHARGES
to be met, which have quality OF value accord
ing to the influence such broker has with the COM
pany, and not TO put too fine point upon 1t, the
These charges involve discount OF ten per cent
or more in addition to the legal rate OF interest,
ana the applicant for $4,000 is fortunate II he re-
ceives $4,000 cash, This could be very much SIM
pllhed II provision were made for the passing OF
Switzerland and recently suggested in England,
without the cumbersome details that now hamper
would be charged with this duty Of conveying and
stimulus to real property as an investment capa-
bic OF quick realization. lG would
LARGELY MULTIPLY TRANSFERS.
and also be very beneficial in permitting freer
security. IL ought not to be difficult to devise
some plan that would meet tins growing want in
fact that those to whom the people would most
naturally look for help in such matter are most
ancient orm Of IN the
This is an age however, of new ideas. and even the
latter may ind IT TO their interest yet aid in the
abrogation OF old forms and the Introduction Of
simpler methods OF business Another reform
much needed as y measure OF relief TO real estate
is the repeal OF
THE TAX ON MORTGAGES.
an, aus th ~ tha sr an zen anu "a COL
constitution being In effect double tax on realty
paid apparently Dy the owner OF tue fees and the
owner and mortgagor, it being considered IN tue
rate asked by the mortgage. Something might
be said here, too, in advocacy OF repeal OF the
Usury law as another measure promising great
RELIEF 10 this market inasmuch as free money
would be cheapest wnere the security was BEST
This Is measure, however, not likely to address
itself with Iavor to
In reality boon TO the poor man, II has the suspi-
cious look OF placing hun as q borrower at the
sary 70 wait an era Of better EDUCATION before we
can hope Tor this reform. Massachusetts has re-
| of her common schools Ours are not inferior, but
somehow we have larger foreign popuiation
that have not had the opportunity OF their IN
structlon or JAILED to take advantage OF It, and 1t
largely influences local legislation. For the COM
ing week tue most important announcement Ii
that OF sale to take place this day Monday and
PROPERTY IN wEsrCnEsrER COUNTY,
on what 10 known as Harlem River Heights, fmme.
dlatey adjoining and overlooking the Harlem
River, between High Bridge and KIngsbridge. Is
comprises some 800 lots to be sold parcels Of i've
lots and upward, and is offered as PARTITION sale
by Messrs. Sacchi Il Burlng, well known real estate
ery NOR. clearly It may BE- SAID Il is situated
just one mile north of High Bridge, having front
on the Harlem River OF 500 feet, with water front
up the slope, crossing Sedgwick avenue to Ma
combs Dam road. sedgwick avenue, the Futh
beautiful drives about New York, not surpassed in
views by any OF the Central Park. 1t runs along
205th and 2O6tn streets are also well graded to Ma
COHOS DAN TOau unu III puDllc use. lue nearly
level plateau forming the easterly portion OF tho
premises mas mean elevation OF IT'S feet above
| the river. From 1t and the westerly slope below
are seen magnificent river and landscape vie W. to
the south, the west and the north. All the roads
west OF and Including sedgwics avenue are per
RAPID TRANSIT
over the Spuyten Duyvil and Port Morris Railroad
ts secured by several trains daily in TWENTY-FIVE
minutes from the Central depot and thirty-seyen
minutes from the Thirtleth street depot. The sale
to-day will take place on the ground that OF to-
morrow at the Exchange Salesroom. There win.
however, be no Tree tickets. nor iree lunch, no
band, nor any OF the usual accompanlments OF Q
suburban sale to-day. The property is 0frered ON
its merits. Presented thus at this time the result
4 OF the sale cannot but be a matter OF much In
terest helping to determine the chances OF West
! chester property next fall and the quality OF
values there on the open market ar the present.
/ time.