, 1875-09-12
MISCELLANEOUS.

THE CALIFORNIA FAILURE AND REAL ESTATE
The San francisco Real Estate Record for Sep
tenber shows that 373 real estate sales we're
made in that city and county in August, Of the
yaIuo OF s., 24, 1872. OF these sales some ten
were only transfers to secure dobt arising from
the disastrous financial events Of tho past week.
On the subject Of real estate and prospects the
Circular says:
Tho real estate sales effected In August Were much
1arger than those Of tbs previous month. Until tbs
data Of the failure Of the Bank OF California Aug.
oC> there wax much mora inquiry for property, and
many uore sales Eade in July Prices wsro vary
firm, and every indication betokened increasing
failrre OF tho bank named the developments connect
ed with that f1ura, the run on thu other b2nks and
temporary unsetueent Of confidence With al tend to
restrict sales until business resumes its accustomed
channels but the events Of the past week will have
IN immense effect in increasing conhdencs in real
for few months succeed the great industrial activity
which has prevailed here thu very lively rcaesate
market anticipated this fail and winter may not
estate will mora than hold its OWL, because Of the
anxiety which will be manifested to hold stable sacur
tea while Of course, good inside property will con-
tnue to advance, we know it did during all tho
three years depression and drought succeeding the wild
indation Of 1852. Let It now be remembered that
we have had no imitation in tho price Of any kind ot
property within the past two years. Extraya9ant
prices paid for not more than 100 Of the thou
eands Of pieees Of property sold during hAt time, and
gamblers, who, having made their money essy, could
afford to pay almost any price asked
RAPID TRANSIT IN NEW YORK.
The Commission appointed by Mayor Wick
ham, under the Husteq bill, to select rapid
transit routes, has made its report, and it has
Commission have laid out four main lines be-
tween the Battery and the upper end OF the
island. One route is along Greenwich street and
Ninth avenue and is the present Greenwich
Street Road, which, erected and in operation az
far Is Thirtieth street, has demonstrated the
Sixth avenue, South Fifth avenue, West Broad
war d Church Street Line and is the west side
route covered by the Gilbert charter, which,
having been granted before the pas
sage Of the constitutional amendments,
Common Council nor that Of the property-own-
era L third route is from tho Battery to Har-
lem via Bowery and Third avenue. This lino
"a we'll IS the connection between the Brooklyn
bridge aud the Battery, is also On the route of
the Gilbert charter, and, like the Sixth avenue
lite, requires no confirmation. The Third
avenue route and = few OF the connections with
depots and ferries Axe not covered by previous
charters Thesa will BE- known as ~ Commis-
eloners' routes, rim contradistinct,on to "char-
tered routes: The most easte1ly route is along
First avenue to East Thirty fourth street, and
thence along Second avenue.
THE Eo1sELEss PANIC IN NEW YORK.
The New York Herald. in an interesting arti-
Gle sbous "the noiseeas panic in real estate, ~
states that there have not been in that city since
1866 20 many foreclosure asles as now. In the
following year (1s67) began the heavy invest
ments and speculation in uptown property in
expectation Of the effect OF the Central Park
aud Boulevard improvements, and for tive years,
or until 1872, pzices ran up, up, ND far beyond
actual values. The great improvements shown
on paper never came, and as result reaction
took place, and foreclosures became the order OF
the dA.. Prices began falling away to the old
standard. until now there ara no offerings out
aide OF theae forced oneh
The fselo6urs suits tas&itsa tha yesx ~ Ia.ua1y