, 1876-09-17
IN GENERAL.

ANEW ENTERPRISE FOR ENGLEwooD.
4 large meeting of property-owners was held
at the Sherman House on the afternoon of
Thursday, the 18th inst, to take into considers
tion the location at South Englewood Of q
branch OF an Eastern Horsc7Shoc-Nail Manufac-
tory. A representative and Director Of the
Company was present and gave full explana-
ton of the operation Of the home works, and
the intention Of the Directors to meet By man
ufactory at Chicago the increasing demands of
the West 4 general discussion OF the project
was held by nearly oil the gentlemen present,
and bona-fide promises OF not only gift for the
site Of this mandatory were made, but also
liberal contributions OF land as additional in
ducenent for the location Of the works. 4
committee composed OF representatives OF the
pointed to attend to the details Of the negotia-
tion. It is the intention to have the works in
successful operation within the next 80 days
ILLINOIS REALTY.
A new, and, according the minds OF some OF
our best lawyers, a very pregnant question
will probably soon be raised in our courts rs
to whether foreign corporations can take valid
evidences of debt secured by real estate lying
within the State OF Illinois. Our supreme
Court has emphatica1iy decided that corpora
tions, foreign to the State Of Illinois cannot
take title to or buy and sell real estate lying
within its boundaries. The Supreme Court has
gone SO far as to deny to a trust company foreign
to the State the privilege OF holding aud part
ing with the title to real estate simply in trust
1T having no direct interest in the Tee or in the
rise of fall of yaluesl in order to sell it for the
benefit Of its cestui qui trust.
Hence, setting aside for the present the q11es-
tion us to whether tue foreign company can
validly or safely take securities directly or IN
thing would seem to follow, aud that is, that if
they do foreclose they must find bona fde
purchaser at the sale, aud not by direction or in
direction be purchaser, as they cannot receive
the title. Selling to the President Of the Com
pany, or to any one else individually, Willie in
fact tue Company owns aud directs the subsc-
qucEt administration Of the land, or, in other
words, selling TO any one who thus holds the
title for the Company, directly and avowedly,
or indirectly and concca1edly, will not do. The
Company cannot take the title, and as that
which cannot be done legally by direct method
cannot bc done by an indirect method, Il hona
tide sale to an actual purchaser not in any way
buying for or in behalf OF the Company must be
madc,-l2eal E$tatc and Building Journal.
THE NEW YORK REAL ESTATE MARKET.
Real estate operators and brokers. having
just now but little business Of their own to at
tend to, ART taking most intense interest in
that OF their ntighbors, and slaiiy eagerly and
auxiously question their mercantile friends as
to how general business is doing, understand
ing, IS they do, that any improvement in real
estate must be foresl,adowed BY the general
prosperity Of the business community. So
tar rs this is concerned, all is now going
we'll, and there is no possible doubt but that
New York is just now doing q lively and
in times like 1873 would have served as
basis for general advance in prices, and
would have created most lively speculative
time. New York merchants have, how
ever, since that year, received many bitter
lessons, Which those who are now left
are profting by, and we consequently find
them 10th to kill the goose that lays the golden
eggs by any advance i'll prices which the pur-
chasing public will not stand. There seems to
be but little of interest occurring in the real
estate market, the same lstlcss tone still char
acterizing the transactions Of the Exchange
salesroom, all of which are Of d purely legal
character. There is no diminution In the NUM-
Der Of foreclosure suits, the number filed for
August Of this year being slightly in excess of
the same month for the year 1915, the actual
the year 1876 In July Of this year there were
213 suits filed, and but 137 in the same month
OF 1870 There seems to be also slightly less
proportion of suits STAYED off this year than
last, as mortgages are insisting upon positive
settlements, which, owing to the weakness Of
the holders, eau only be consummatcd by the
sale Of the property, which almost invariably
falls into the hands Of the plaintif.-New YORK.
R>al-EStat Record.
Mr. Thomas Lyman has purchased the south
vest corner Of Elizabeth and Randolph streets
and the northeast corner Of Washington and
Ada streets. On this property he will erect q
threc-story 1narble-front houses. These, with
the nine honses building On the northeast cor
ncr OF Ada aud Washington streets, and the 7G
houses covering the entire block between Ada,
Elizabeth, Washington, and Madison streets,
will make total Of los new marble-front, first
class residences built upon the purchases made
Of Mr. Timothy Wright this summer.
SUBDIVISIONS.
The following plats we're filed for record the
past week:
!. 4 subdivision Of the west X Of north 4 of
sonth Y Of southwest 4, Sec. i, 38, II, by the
South Chicago Land and Building Association,
making four blocks each containing ~ lots with
IN average frontage east and west Of % feet, and
depth varying from LIS to 125 feet with Ii feet
alleys and 66 feet streets.
=: James Wcbb's subdivision Of the southeast 4