, 1876-09-03
Continued Lack of Life in the
Loan Market.
Plenty Of Money but Very
Few Borrowers.
The Additions to Chicago's Heavy
Business Firms.
An Immense Carriage-Buildins
Establishment Coming.
The Market in the Cities Of New
York and San Francisco.


LOANS.
TIE TOTAL FIGURES OF TEE BUSINESS FOB
THE MONTH
last past show falling-o6 OF nearly S50,0tN,-
000 as compared with August, 1915. The latter
date, however, was peculiarly favored with sew
eral large railroad mortgages, amounting in the
aggregate to s49, ,O00, 600. Leaving these out Of
the question, the discrepancy between the two
months is not SO very great As time rolls on,
the figures Of the years business are rccedlng
further and further from those Of the previous
years, with but little expectation Of recovering
the lost ground under the most favorable cir
cunstances. In common with all other branches
Of the real lestate business, there is no brskness
in the loan market A sufficient number OF
loans are negotiated to keep the faculties Of
agents from rusting. There is no material
change il rates, and, although now and then a
very low rate Of interest appears on the papers,
still as general thing agents are welded to S
and per cent.
AOEEY Is PLENTIFUL
and more is being constantly added. Some OF
this money was originally sent here for the pur-
chase OF business locations, but, finding nothing
Of the kind for sale, the principals directed their
agents to invest it in loans, but even this last
resource turned out to be impracticable. No
one needed large sums on mortgage on hrst~
class business property. Property OF this k1no
has mostly got into strong hands, able to hold
It without any assistance, who have sufficient
confidence in the future Of Chicago to keep
what they have, as good Investment, which
will be better than money in hand at time not
far distant The 1oaning business shows larger
falling of than do the actual transfers. a COM
parisoa Of 1873 with 1874 shows decrease OF
one-sixth in the number OF trust-deeos .aa1 ana
mortgages fled for record, and, comparing 1876
with 1875, decrease Of onc-dfth is discovered
in the same line Of instruments, so that the
movement in tue loan market Is one-thlrd !ses
tnan it was two years ago, with gradual dl-
minisling tendency. In the matter OF actual
transfers, the business has not diminished by
more than one-sixth in comparison with 1874.
Choice business property does not move, but
there is still slight Increment in park, bonle-
yard. and suburban lots, brisk demand Tor
which Is what is needed to give vitality to the
market Small aud numerous sales are the
Life Of the rea!-estate agent. It is not the
movement in property worth thousands, but the
movement in lots worth hundreds, that gives
Al impetus to the landed interest In the IN
provement Of the condition OF men OF moderate
means lies the hope Of improvement in the gen
e-:I scal-estate market.
RECENT LOANS.
The following loans we're negotiated the past
week:
Il StatC street. lVD 3eet west 1TOul. 6oulQcdeL
corner ct Washington street, $l75, 0o0, i've years
at : per cent
(2j Twelfth street. lis feet north front, and
Newbcr7y street lis feet west 'front.' ST., 600, aye
years ut per cent
81 Meagaer street. 50 feet south 'front.' 100 feet
east of Cana street, $40, 600, two years at 10 per
cent
u, West Lake street, GO feet north 'front.' be-
tween Desplanes and Union streets, IS, 600, five
years at per crnt-
~ Eloci; :, Asseesors' Division OF Y. E. X Of
Sec s, IS, II, intersection OF Chciago and Mil
wauEce avenuee. $40. 600, fire years at per cent
This perhaps is the most remarkable loan Of the
week. when the smallnces OF the 3mount and the
low rate Of intcrest are considered.
COMPARATIVE STATEMENT FoR THE WEEK ENDING