The Cincinnati daily star. [volume] ([Cincinnati, Ohio]) 1875-1880, 1875-10-21
CITY EDITION.
New York.

The Real Estate DepressiOn-A
Swindlei Caught Champion
Scull-Letter frOm Dr. Hayes
Extensive swindling Operation.
NEW YORK, October 2I.-fhe Daily
Graphic, in an article OH the depression
OF the real estate market, says the sale
of Griffith Dawes and other property
to-day simply means that thousands Of
persons who supposed Jney were rich
are to-day pennlless. For two years
real estate which was unimproved in
choicest quarters of New York has fallen
in value more than One-half.
Insurance companies and savings
banks, as well as private capitalists,
have on their hands assets which are
unstable, and upon which they have
advanced more money than the property
would bring in open market. This is
the elimination OF the panic of 1873, and
from this time forth we may expect to
see forced sales of unimproyed real
estate at ruinous prices.
| We give below the figures reached to-
day at the sale ON the Real Estate Ex-
change this morning. The sale OF 12S lots
in the upper part OF the city was COM
menced at the Exchange salesrooms.
|
on the corner of Fifth avenue and Sixty
fifth street, was sold for 5000,
a mortgage Of $4,000 to remain.
Lot 8, adjoining on Fifth avenue,
was sold to H.Newhall, of San Francisco,
for 5000, subject to mortgage of ST.
800. This gentleman was also purchaser
of No. for sc, 200, with mortgage OF $1O,-
800. The auctioneer then sold lot on
Fifth avenue, 10 feet 5 inches south OF
Eighty.eighth street, on which there ls a
mortgage of $4,000, to Mr.. Newhall for
10000. Total amount Of MIR. Dawes'prop'
erty sold to-day foots up $643, ,450.
Joseph Schmidt and Charles Jost,
merchants, of Philadelphia, who, among
others, have been made victims of huge
swindle by Frederick Falls, who gave
them alleged worthless notes tor goods
to the amount of 100000, and who have
been tracing the goods and canvassine
the country TOR the swindler, arrested
him at Warren, Pa, and lodged him II
ljail.
Thirty thousand dollars worth of prop
erty was found with his brother-in-law
named Riebold. in Brooklyn.
The single scull boat race for 81, ,00(
and the amateur championship of Amer
lea, between Wilbur Bacon, of Yale, and
r. b. cambridge, Of New York, tool
three miles. Betting was 500 to $75 OIL
| Bainbridge, but at the start it was $l0t
to $50 on Bacon. Bacon won by twt
:. feet. Time, 16:0lZ.
The Herald this morning publishes
} long letter from Dr.. j. j. Hayes, tn
well-known Arctic explorer, in which h.
expresses his beliefin the existence of al
! open Polar sea, and regrets that tn
: Pandora, which has just returned t
England, did not winter there and re
: new search Tor records of Sir job
i Frarklin's expedition in the spring
: He believed this could onl
r be accomplished by passing the winte
!. there, and pursuing the search in tn
r lieves now, as he mas always believe,
since his first voyage there, that in tn
t vicinity of the Pole there is an opel
, navigable sea in the summer; that
: may be reached by ship or boa
by way of Smiths Sound, and that TIA
: North pole is in the reach of any natiol
that will think it worth while to spen
money enough to get 10 it. Included ii
= the later are some interesting reminis
| cences of previous voyages Of himsel
. and others.
The Sun this morning publishes an al
= ticle stating that Archibald Henderson
m6rcndHb OF W dter Sbfeet. mas Qe
camped, and sailed on Thursday unde
, the name of j. s. Butler for Havana
On Thursday last Henderson trans
/ ferred his business, before leaving, t.
r the charge CT an assignee.
: His book-keeper, learning the state 0
affairs, surrendered himself to the police
!, and confessed that he and his employe
had been engaged in series of forgerie
i. during the past two years, amounting t.
many thousands of dollars. His stor,
was confirmed yesterday when DAME
! s. Roherst, tea merchant, of Philadel
Phia, the only person whose signatur
Henderson forged, made a charge of for
lgery against Judge, the book-keeper
, He was held in $1,000 bail.
: 1t is said the persons who will suffe
most is e. II. b. Krogsgaard, note broke
( OF Wall street. He discounted Hender
sons notes without hesitation. Hi
: losses, he says, on forged notes will
! swallow UP his entire fortune. AS Judg
; is in Jail and no one else understand
: the books, it is impossible to ascertain
lhow affairs stand. II is believed Hen
derson has taken about seventy thou
/ sand dollars in negotiable paper.
An Overdose of ChIoraI.