, 1876-03-05

ing this it may be laid down as q principle thu
oil properly which increased in value within til
last few years, through local improvements, g
through the fact that 1t lies adjacent TO improve
| property. ha5 suffered in some cases severe dc
! cltue, but generally q depreciation to more 9
| less extent.
| lEEUCTtoS OF VALUES AND RENTS N NEW YORK.
The French fiat system, saws the New lor]
| Times, while it hes baen in measure SUCCESS
and has net with public favor in u Remarkable
| degree hss not entirely succeeded in cheapenln!
| rents. Iho demand for what the agouts tern
eligible fats has boon great that the rental q
one IL nearly IS largo IS llRt Of house O.
| moderate size ana pretontion. During tho past
| two years and d half. howover, another cause
! las operated toward removal Of tho objection
| to the high cost Of living in New York. The
! decline in actual value ut real estate las bea1
unmist1kable. and, although holders are so u,,-
Willlug to accept reduced prices tint fow sales
are made excepting under the stress Of necessity,
get tue absence OF a:c reactlon toward OLD
values caused an adjustment Of rents to
tile new standard und ono Of the agonta,
doing large business, states tho reduc-
rion in two years to bo 30 per cent. This
year there is All average reduction, according 10
the same authority, OF 10 per cent from tho
prices Of last year, but IT the reduced rengs it is
calculated that good improved real estate pays
all interest OF ABOUT 6 20; cont on its redacsd
value over tho expenses OF, taxes and repairs.
One of tho significant facts showing TINT tlls
reduction OF rents IL Eli actual occurrence, OF
which tenants ought to gain the advantage, is
that tue Astors have made 4 general reduction
i'll their rents of III per cent from tho fgules set
lest year. This reduction is considered less than
the average in the city, but it is iu itself cou-
elusive proof Of n decline III rents In store
property the renting Of individual buildings
proves little Us values vary so greatly with loca-
ton and tie particular needs Of the tenants, but
au estimate il made that the rents of stores will
bo less than those Of last year in just about the
same proportion a5 t|loso Of dwellings,.
MORTGAGE FORECLOSURES AND MODERN sHYLocEs.
The Springfield Republican Of the 2Sth ult.
has como strong remarks on tho practices Of 4
class Of lanl~sAarks who ara taking advantage
CT the haId times to Cypress mottgagoss, and
buy tnom out under foreclosure Il says:
There have been some great bargai1s in real estate
in New York City lately, i'll purcn=ses unez mortgage
foreclosures; and with aud por cent bouda anil
stocks selling at 1lo l2 it begins be seen that
there IS profit in it 1t present prices It requires cour
cgc and discretion. lowe7er for such Investments.
Here. in Springfield. wa begin to detect soaciuus
rolling Of tongues and whctting Of sppetites toward
this class Of property among certain class Ut mouey-
holders cnd noaes7Retess. soaae choice purchases
have areIdy been made ut mortgage saies and sae,l
down Tor the future recovery OF prices This both
shrewd an legitimate enough; but the hylock quality
finds stimulation ~ the opportunity and goes back to
the a5aiduors cultivation oS crisls. OF which It
purposes 10 rako advantage. Tho general dsposi-
Eou of our local whether corporate or
personal is 20 long tho security y sufficient and
The interest promptly met to give plenty Of time to
the stricken DEBTOR and allow him every opportunity
for the Advantage Of future favorable reaction. Bit
there exceptions who, in tho spirit Of the old jew
OF Shakespeare insist on their bond to the day and the
letter iii order that they furee tho sacrifice Of Ito
property and get it It bargoin. Worse than that as
have suggested. there searchers for opportuui-
ties Of this SOFT purchasers Of mortgage notes about
to fa! dEe with tho very purpose in advance Of ehut
ling The gate town ebaslay Oh the cornerel debtor,
aud getting his property from him at half or two
hrus its cost and considerably less than its value
These Of folks tcong to tho erna lreel az those
who fail III order to nake money; is the sEris,
,nly exhibited 1t the o:Ae7 end Of the Chain.