The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-04-19
The Real Estate Operations or tho
Ring.

Ine opera tlOnS OF some OF the lesser llgutS
and parasites Of the late Ring in real estate
are gwen in the HERALD to-day. They are
decidedly suggestive. Ingersoll, who has
recently received the Executive pardon, APP
pears to have been the most extensive pur-
chaser of the list now recorded. From the
early part of 1869, when his association with
Tweed as an active participant in the favors
of the Boss commenced, up to the early part
Of 1872, when dark shadows began to eclipse
the glory of the Ring diamonds and when the
Americas badges began to find their way to
the loan brokers' Offices, IngersoIl up
pears as the purchaser of over half
million dollars worth of real estate.
Prison was secured through his pledge to turn
States evidence against his accomplices in
rascality and to appear as witness against
them in the coming suits of recovery. If the
bargain contemplates his undisturbed enjoy
ment of his own share of the plumber, as we'll
as his release from captivity, he certainly will
have made good bargain for himself A
few months at Sing Sing Will not be q very
heavy price to have paid for the quiet
possession of more than half a million
dollars. But if Ingerson is not as
part of the bargain. to be allowed to
retain his share of the money belonging to
the city treasury, there will be comparatively
little difficulty in reaching his property His
Fifth avenue house was not sold until October,
1872, and although the price paid for it
appears to make it a bona 1ide transaction, the
question will be, as we have remarked in re-
gard to other Ring sales how far the general
knowledge Of the Rings dishonesty will be
held to vitiate the holders title. Other prop
erty was sold by Ingersoll IN the latter part of
1871 at great apparent sacrifice, one parcel
OF real estate, which cost him sixty-one
thousand dollars in May, 1871, having been
sold or alleged to have been sold by him in
October of the same year for one-half that
amount.
Andrew J. Garvey, who has also given his
evidence against the Ring of which he was so
prominent a member, operated in real estate
to the amount of nearly half million dol
lars When trouble overlook the Boss and his
merry men Andrew gave evidence of the in
nocent character of his operations by selling
TO his brother large amount of property on
terms very favorable to the latter. Parcels
Of real estate that had cost Andrew
s12O 600, $4,000, $4,000, $4,000 and
so OF, were sold to his brother
at from one dollar and nincty-two cents TO
sixty-four cents parcel. A seventy-six thou
sand dollar purchase was sold TO another party
for ten dollars. Some of this property has,
however, been sold subsequently to these
Improbable transactions, and, as the deeds
are from Andrew J. Garvey and wife, it is
supposed that the loss on the sales to the
brother did not fall so heavily on Andrew a.
they might have fallen. Ii the parties ~ho
are looking alter the interests of the city in
the matter of the recovery Of the money alb
stracted from the public treasury by the
Ring transactions have not secured Garvey in
the possession of his share OF the plumber
there will be no difficulty in getting posses
sion of this half million dollars. Il is re-
narkable tact that the 'Ring" millionnaires
had q passion Tor fashionable localities. They
Inspired 10 residences on Fifth and Madison
avenues. They would not be contented with
any less decided change than step from
tenement garnet to a FIVE story brown stone on
one of the leading avenues. Probably this
ambition may prove advantageous to the city,
as, il the property should be recovered it will
be found mainly in desirable localities.