, 1876-10-01
Growing Supply Of Seven Per Cent
Money in the Loan-Market.
Conservative Unwillingness 10
Shade Old-FashiOnei
Rates.
Good Demand for Business and
Residence Property.
Principal Sales of the Week-..Projecte
Building lmproyements...Eis-
celianeous.
THE LOAN MARKET.

INCREASING SUPPLY OF CHEAP FUNDS.
The rates for money are depressed. and there
are more loans being negotiated at Z per cent
than ever heretofore known in the history Of
The real estate loan market. Some Of these are
for very small amounts, and even at that figure
not Oh choice inside property, but on suburban
lots. There must be great confidence in the fu-
ture when capitalists are willing to take these
risks. Agents think these Investments unwfse,
claiming that money will he needed in other and
more profitable enterprises before another
spring dawns. Certain of our city bankers are
also looking forward to q stringent MOL
ey market, and believe it Is better to
Keep funds well in hand than to lock them
up in liens on rcal-estate. The ability to bor-
TOW money at per cent ought to renew the
confidence OF the public in Chicago realty, aud
hence this low figure ought to bo regarded as an
encouraging symptom. The demand continues
about the same, but the actual business done is
rather small. Borrowers are looking for cheap
rates, and as the old established agencies do not
seem inclined to shade their prices, very many
loans are in suspense.
The monthly statement for September shows
very small business, the smallest so far of any
month in the year. A comparison Of the nine
months proves that there has been
falling of of one-ffth IS compared with
1919 and OF more than one-third as compared
with 1871 On the other hand, the proportion
OF releases to incumbrances has materially in-
creased The season is too far advanced to ad-
NIT of any expectation OF large increase in d..
mand- Money is like other commodtics:; It's
cheapness is accompanied with Scarcity Of
customers. When customers arg In excess,
then competition advances the lRe;fice.
Among the important transactions of the
week are the following:
henry Potwln, OF PsssFsnin d Corby, loaned J.
D. Harvey, Trustee, 5000 for FIVE years at
% to G Chico. se II This NAV ntyih Be
proper foan, but the fact that Mr.. potwin
clele1 sum Of money to hare al mention of
LIE loan suppressed throws suspicion on the
transaction.
West Washington street. Nos. s32, 834, and
1886, having a frontage of 675kx134 feet deep,
$1,000, five years, at per cent
Fourth avenue, 50 feet east front, between
Tay1or and Twelfth streets, $500, five years, at
Z per cent
= Of s. ". y Sec 4, IS, L, $5,000, five years, at
7per cent.
wabash avenue, northeast corner Of Eight
eenth street, 67xl91 feet, $4,000, five years, at
7pc. cent
Wabash avenue. south of jackson street, 20
feet west front, s13,o00 frc years, at per cent
Madison street. between Clinton and Jcffer-
eon, zc1is9 feet. $4,000, SIX years at per
cent
Washington street, between Ada and Sheldon,
60 feet, sontil front, bv ITO feet, $4,000, three
YEARS. q: Fer rent.
Rush street, Nos. 1856 and 15s, having 'front.'
ssc Of q fect7 s11 oeo. Eve years, at per cent.
E]ackhawk end Purple streets, $50 feet 'front.'
street. s60n0 tre years, at Q per cent
Twenty four lots in Barnum's Si7o1e, 900,
t!.rce years, at 10 per cent.
coMPA1tAr1vE STATEMENT ron TnE WEEK ENDING
.EPT. 30.