The New York herald., 1875-09-12

To $3I, 292 1874, compared with 1885. The failures
from Mar to August placed by the same authority
at $3.50 600.
An LLusrRArIoS THE REAL ESTATE PANIC OF 1871.
The HERALD. Of June g. 1887, has the following
article Illustrative OF the panic and its results
There Is nothing interesting, nothing more philo
sophcal, nothing like history teaching by example
for instance the land peealaons Of 1884 and 1887
2st OF May 5 we wrote article ther published In the
Not long since educated polished intellectual per-
city to reside and spend his tmS sres%Sy lie was in
Q, 1."he ns snug not large probably ~ s %
value Of real the fall rise every rock heap
make small speculation in land - Il don't know re-
Viewer mind said the friend purebase % This lot il the
best in the market keep few months and now it will
The gentleman did So i what called the cO@mo
Of She Island near Yorkyis about Teen acres and cost
5000 l. was the same which sold the other day for
large sums OF money recently made in specuaons in landed
The spirit mania rising higher From the of
crowded 70 to %T odho n "S @ 5 % 9s
anconees IN one corner are sometimes busy at the same
different rocks, mountains lakes swamps meadows al
s4s msd e ssns.r. and i .de as e s
dealers are making oPd fortunes OF one t Is said he viii
ssS5 s ss Res ds &
s ans Water 'ss ns 1ea estate IN Maa
the last &c h Be- on IL be
wha. is the picture now We win tell About year
ing TO him. situated Bay below Brooklyn
mortgage given for the balance at As
squares docks slips and e1erithng as Master DogSerry
says, handsome about them" Gowanus Bay was TO be
charter got mayor and aldermen elected and again Dog
But the revulsion Lands, lots towns swamps not
only not saabc hut they were worth nThng beyond
SO bad that the company called meeting What shall we
Sleeping day and half on the business they shook
& ns%S Ss. and M 70 ns s US % H ss
the first nstament of $1,000 but we may save the latter
This proposition accordingly made to the proprietor
lie shook his head IN stick the bargain They stared
eyes Weeping sad give $1,000 and ali the land
This is now the condition of the negotiation So
much for the land speculaons of 1888 and 1887 OH OH
While there is probability of monetary panic at
present the history of the past clearly shows the neces
sity for spectators in real estate to be cautious. A
THE RED FLAG of DANGER AHEAD,
will "slow up" and not wildly rush pell nell into tho
chasm that may be awaiting him and those who he is
plotting in safety the broad expanse of States
Spectators have in the past revelled to their M and
some of them have gone down the numerous panics
in real estate that have marked every ten years since
1917.
AN OPPORTUNITY Is now oFPERED THEM
to ''sow up Failures in commercial business usually
follow period of speculative gambling in stocks and
real estate and stocks have been to prices lar in
excess the value and this year has been marked
like 1867 by commercial failures but not to the
extent There is danger however, that the bitter bat
tie raging between the advocates or metallic and
greenback currency may prcciptate condition of
things the next Presidential election little less
critical than that OF 1S3437, and before the end of
1877 many real estate may regret that they had
not 'sowed up others did that they had not taken
the advice of the HERALDas many arseeng capitalists
did before the crash OF 1881
INSTANCES OF sHRINKAGE SINCE 1S723
No considerable number of real estate operators
agree TO the shrnkage of values on certain lines of
property this year compared with the high priced
periods 1928 yet all concedc the general
shrinkage has been fully onethrd or thirty three
and third per cent Mtn view Of asSertainng
instituted, and OF the real estate firms that is
looked upon as incli ned to 'bu' the market, can
ddly admits that their sales show the following de-
cline since 1SI2-73:-
Shrinkage.
Location. Per Cent
About Inwood and spuyten Duyvil ........... 35
About Fort Washington Observation-Disclosures. 25
Along Sth avenue from l45th to 59th street,. 35
Along the Grand Boulevard from 59th to
Along 5th avenue f6m 5sth to 124th street 25 to IS
Along 7th from 10th TO 145h street.. 80 to 35
Along 4th avenue from Goth to 125tn street. 80
Lots between Madison and 9th avenues below
% few recent sales comnarcd with sales and values al @
placed upon the same property when inflated prices
prevailed, will better illustrate the shrinkagc. From
the records in the County Clerks and Registrars Office
and other sources these sales arc obtained.
Sold for Tor
raiseaat in Sold for
Location 1S72-73 in 1873
-Four lots at Inwood with house. $1O7 900 SCI, 900
Lots and house Fort Washington 10000 $4,000
Eight lots Grand Boulevard and
152d street eet................... $4,000 *52, 600
Nine lots, corner of Seventh av-
enuc boulevard and near l3lst
street (valued) ................. $4,000 1000
Six lots on Eighth avenue and
Eighty eighth street (valued).. 10000 1o5 600
House and lot, 20Xl00. 10, south
side of 10th street. east of
Four lots on west side of Central
avenue, south of Grand avenue 1000 3,400
House and lot in 135th street,
near Alexander. ............... 5000 5000
House ana lot in 136th street,
near Alexander. ............... $4,000 10000
Eight lots opposite held figure realized this
BROOKLYN AND wEsrcmEsrER COUNTY
In Brooklyn the condition of things is found.
Indeed owing to the disrust felt in the city authori-
ties and the alleged seangs by the rings engaged in
public improvements, real estate is rapidly going down
the river. No person Is disposed to buy, and
holders who need money are letting 20 parcels at re-
duced values In the Eastern District this is especially
So The property owners OF Williamsburg and Green
point already begin to tire OF the union
formed two or three years ago, it has
nearly doubled their taxes and they agitating
the question of secession from Brooklyn claiming that
they unduly taxed for the benefit of the lower end
of the city, and that in consequence their property is
fast deprecating in value II is reported that of
the savings banks are iorecosng their mortgages in
expectation of decline TO "A lower point This par
ticularly in the Eastern District Tho spent
Yesterday among the real operators Westcheser
county and they agree that the market very dull and
the summer had been marked by sales of any inn
portance except where holders required money and
sacrificed it. that property below 149h street stands
about it did two years ago, but that from 10th
up Fordham there has been decrease of from twenty
10 thirty per Houses above the Harlem Bridge
not IN demand except ut Il rental Of 5000 per annum
and under and real estate men report that capital could
pro1taby be employed the construction of houses
for rental at from $500 to 500.
There those who have the reputation OF being
astute barometers of the market, who still maintain
that prices likely to advance this fall but they are
generally looked upon as bulls who arc Interested in
maintaining the values of two years ago All real
men who are not interested in keeping the prices up
agree that values are reaching their proper level
and that any capital that ventures into transactions
in the hope of the prices of 1872 and 1873 being again
reached will be liable TO great shrinkage.
THE NEWARK CELLULOID FIRE.
ANOTHER MAN REPORTED BURIED IN THE RUINS.
Public in the recent disastrous celluoid fac
tory explosion and fire in Newark given renewed
life yesterday by tho report that the body Of another