The Baltimore County union. [volume] (Towsontown, Md.) 1865-1909, 1875-01-09


ASHARP BUSINESS TRANSACTION. The following
from New York paper will show how real estate
spectators in Brooklyn operate
In the vicinity of Prospect Park Brooklyn,
there is large tract of unimproved land, which,
when the Park was first laid out, rose rapidly in
value, and was esteemed worth SUN of money
far in excess of what it would sell for. All sorts
Of fictitious prices we're put upon it, but as the
Park approached completion the prices became
settled and Fixed. Several sales of such property
have been made within the past year, and real
estate dealers in Brooklyn assert that land in the
vincinity of Sixteenth street and Seventh and
Eighth avenues, is worth from $500 to ST., 900 for
lot 20xl00 feet, according to its location in the
centre or on the corner OF block.
Silas G.. Herring some years ago bought the
block of land bounded by Sixteenth ST., Braxton
ST., Seventh Ave, and Eighth Ave. Tor small
sum of moaey, and concluded short time ago
TO sell the property il be could obtain good
price for it. MIR. J. Nelson. of Brooklyn, had
several interviews with Mr. Herring about buy
ing the land, and finally agreed to $45, 900 tor
the entire block. The property was assured for
$50, 900, and Mr.. Herring esteeming it good Of
fer, said be would sell at that price. Mr.. Nelson
said that in making out the deed be wanted the
consideration placed at 100000, as he might
want to sell the property, and he did not care to
he had no objection if be could do so lawfully,
and having referred the matter to his lawyer, who
examined the law and found he could do so with
propriety, accepted Mr.. Nelson's terms. The
deed was made out and placed in third person.
hands until payment should be made.
Meanwhile Mr.. Nelson went to the Office OF the
Knickerbocker Life Insurance Company Of this
city, and told the President that he wanted to
borrow $4,000 on piece OF property which he
L. II e. M
He needed the sum of money, be said to make
The full payment. The deed was examined and
the facts found to be as he stated, and Mr. Nelson
was Informed that the appraiser of the Company,
Mr.. Morgan, would examine the property, and il
he thought it worth what be estimated it at the
loan would be made. Mr. Nelson then referred
Mr.. Morgan to several gentlemen, and the result
was that it was reported 10 the Company that the
property which Mr.. Herring thought be was SELL
ing at good price for $45, 900 was worth from
800, 600 to $l30, 900. The Company's lawyers,
/ Messrs Johnson and Cantne, drew upIz-= Gees
sary papers, mortgage Of the property was
signed to the Company, Mr.. Nelson received the
$40 OOO of which be paid $45, 900 to Mr.. Her.
ring, who was perfectly we'll satisfied with his
bargain and the remaining $25, 600 be OF course
retained.
This transaction occurred three months ago,
and the first payment of interest will fall due
about April l. 1875. Of course, if interest is not
paid, and it is probable it will not be- the Com
pany will be at the expense Of foreclosure pro-
ceedngs, and the property will be sold ataucOn
LOCAL OPTIoN-How IT WORKS IN PENNsYLvA-
NA.-The Warren pa Ledger says at is be-
lieved that there are from twenty TO twenty-five
places in Warren borough where liquor is sold,
although there is of course not single licensed
house. We hear Of our preachers still extollng
the local option law but those who do this are
but little informed as to its practical workings
There is scarcely honest seeker after the truth,
and who has found it, but will admit that the
law has not only not been beneficial, but has done
considerable to disorgauize society. 1t is used
even when its sale is prohibited There being a
profit, and purchasers, there will always be per-
sons to take the responsibility of selling. There
is not the least use in passing law which every
body knows will not be respected. Local option
is dead letter, it is not respected or obeyed -
OF course it would be all right enough providing
the majority will sustain it; but when the ma
jority are opposed it had better be repealed until
such time as the people are ready to accept it,
1t has been damage TO the morals and to the
business interests of Warren, and the sooner it is
repealed the better il will be for those communi-
ties where it prevails
The Doylestown Democrat of late date copies
county is not under the bane of local option. aud
not likely to be, still we think our people should
know how it works in districts where fanaticism
and intolerance carried the day. All the argumeuts
that were produced against its adoption have been
verified, and none more than that the discontin-
uing of licensed houses, in care of good men,
would be the result Of increased drunkenness and
immortality. Chester county is one of the hide
bound districts in which no license is granted,
and the results there are not as gratifying as the
temperance advocates expected In West Chester
many small clubs have sprung irto existence
Their members are, almost exclusively, young
men between nineteen and twenty -four years Of
age. A year age these young gentlemen seldom
drank glass of intoxicating liquor; but no. in
toxicated young men are frequently encour ed
in the streets, and larger quantity of in "a
ting liquor arrives iu West Chester than e
the enforcement of the law Men 90 ab lie
stress with bottle Of run in one poke a
glass in the other, dispensing the spirits n
cents drink. Thus it is and ever will be. :
deavor to prevent drunkenness by force, and .
toxicaton appears TO be on the increase II
would be far better and wiser if our wo De
phsnthropists encouraged the use of malt rs
and thus diminished the consumption e
spirituous article. We publish the fact 1t
Chester county, and expect our readers IT q
their own conclusions"