The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-01-25
REAL ESTATE.

CONTINUED DULNEss-ANxIETY OF THE MARKET
CONCERNING GREENS REAIovAL-RAPID TRAM
SIT AND UPTOWN IMPRovEMENTs-THE DESIRE
RESPECTING NEW PoLICY-MINoR DATA
This market was grat1ed at the Information
borne to it that the new Mayor had shown himself
so fully alive the serious responsibilities he was
soon to assume as to anticipate that portion In
which this market was most afrected by careful
survey OF the situation, as 1t presents Itself up
town in o series Of incomplete Improvements, de.
signed or begun on broad plan, but developed
only In sporadic instinct OF isolation. Real es-
tate men were pleased to hear that the Mayor
elect had actually driven over the ground himself,
with view TO fully acquaint himself with the
wants OF the uptown district, that he might be in
a position to urge forward such
REFORM ACTION IN MUNICIPAL ADMINISTRATION
as would restore to real estate here the activity
in respect to dealings which 1t had only lost
through municipal mismanagenent The market
therefore rejoced over three great prospects open
ing to it's speculative vision, viz.
Flrst--Tne removal OF Andrew II. Green from
the ONCE Of Comptroller, tor this seemed TO be
ofreiief
Second-A reasonable nope that something
would be done to harmonic the various conflict
ing interests IN respect TO rapid transit and
support OF some definite. feasible ana suficientiy
enlarged scneue to promote iull relief; and
woad Sc AGAIN restored to Rs M
figure OF q complete scheme Of development, that
would speedily throw open that section to build.
ing and settlement.
Tins far, with the single exception Of havina
called Mr.. william R. Martin, President Of the
West Side Association. into the Departments Of
Parks, nothing has been accomplished. Andrew
II. Green still remains in once.
THE HEAD AND FRONT OF TIE POLICY OF sUFFocAr
which mas made the real estate business OF the last
couple OF years little more than record OF fore.
closures. sacrlnces and wearying endeavor In the
loan market; while how to secure rapid transit 10
Q problem still In the grub &,rm OF q conundrum.
being lsdged, us it appeared to carry forward Ger.
tain improvements. put their money into city
property adjacent to or along the line OF such I'M
provements, have surely rlghs to demand that
these Improvements 90 on al llevents to sucn
extent as VIII give them some reasonable use o.
found OF q high-prlced lot fronting on street
not yet opened, ana having no communities
o sGa wiz than Tue scross 'ns
wise economy. 1t Is not an intelligent policy thai
erty IN this condition, wholly unproducii1e,
burden to Its owner. when by little expenditnre
Of S re ne CITY
tightening at the same time the general burden
OF taxation. - v,,
Is that simultaneously with the building OF rapte
transit road the streets and avenues at the upper
should be pushed forward to completion SO that
building enterprise might find fresh stimulus In
rendered suitable for convenient occupancy.
There is, OF course, here large suggestion of ex.
nenditure but we cannot expect to 60 ,,s ahead
penditure Is one that has every assurances
Of quick return. What Is proposeds Notn,na
more than to throw open TO speculation or invest
ment settlement and occupancy some of the best
portions Of the circumscriDed area of our city; to
,Hnrn rnhn nj dr. hol1 of I'M
figure because of It's certain luture value, although
now wholly reproductive; to stimulate sections
OF taxes and assessments, to develop instead
handsome brown stone residences and healthtuI
sach results Is Surely worth more than any inter-
est figure this city Is likely to be asked to pay.
should 1t seek TO borrow the money for such
purpose. IL does not want the genius OF an Adam
Smith to teach our municipal direction that IL Is
wiser TO borrow money at seven per cent, which,
to set up o standard or irugalty, which, declining
to borrow, permits the true sources OF the city's
revenue to lie fallow for want OF means to stim-
ulate production. And this is precisely
THE POSITION IN WHICH We STAND
ailse 10 rapid transit as to the opening OF streets
sive policy that would take botn In the one grasp
and liberal disposition tnat, describing the mar
ton, which mas no higher understanding than the
literal application OF the nomely proverh, which
run peanut stand, save the pennies,n would
not hesitate to use the credit Of the city TO the ex
tent necessary 70 carry onward such WORKS. Anu
thus advance the city another great step
forward In its imperial progress. Ex-
ceptlng the increasing force with which
these views are pressing themselves upon
public attention, especially IN real estate circles,
there Is Tut little to note In this market OF gen.
eral character that has not been iully discussed in
articles o. recent date. Concerning the markets
that belong TO
TUE BUILDING TRADES
the Real Estate Record furnishes the comment that
"there IL hopefulness. predicaied upon the belief
that business has been as slack as IL well can be,
n IN mi
while not ful OF large profits or nign prices, n
likely TO open up o steady fiow or business which
Will yield sure and constant returns. Speculation
Is likely to be limited, and fewer chances wiz
probably be taken than heretoIore.n rhe
ADVERTISED LOCAL SALES
for the ensuing week. mostly In iuroclosura osw.
prtoo twenty nine paroAI0 OF O1ey pfounrtv.