, 1877-08-19

recent important cases Of foreclosure, vii, uroh
ably come up in the proper courts tbs fall. md
their fate be watched with much interest az in
vol71ng the titles to great deal Of propert,
Claimed to have been Illegally sold, aud deeds
gwen ignoring The equities Of redemption a.
provided Tor In the statutes Of the State,
VI course It will be said that this fifteen
months' redemption provided Tor in the State
laws Is but little consolation to debtors ybc
nave been or arc about to be sold out under the
| provisions OF trust~dccds In cases where there f.
no dispute as to the contract, and therefore M
excuse for going into the courts.
| TIRE LAW PROVIDES
this nfteen months redemption only in cases OF
| sales made under DEGREES of the cousHc. md in
case OF simple sale by the trustee named in a
tFust-decd there would be no such time for re.
demptfon. But the experience Of morey-lent1.
ers IN making such sales and foreclosures has
oeed unfavorAble to it. The specifications OF
the powers OF sale and the terms of the con-
tract In the loan must be so strictly followed
that many OF the largest moncy-lending cor
| porat1ons have chosen to 60 into tho courts and
sell under their DEGREES in preference to relvinc
! upon the powers in the trust-dee<ls alone, It
Will thus be seen that this question Of the prac-
ticc Of the United States courts will affect the
titles to large amount Of property already
sold, besides being OF great interest to present
debtors who fear they may be sold out.
TAXATION.
|. One Of the clogs on the real estate market Is
the outrageous taxation, not only in the city,
but in the towns adjoining it. Among these
Hyde Park and Lake are getting a very bad
prominence. In some, perhaps most cases, CT
NnFf fxth f5eo ra~&y hn11 49,.
ber Of the rings which control the towns, it is
assessed for more than it would bring either ut
public sale OF even at the old rate, sone~quarter
down, balance in one, two, and three years,
with ne1 cent interest" The fact is, owners
have to pay :or their property every few years
twice over, and If the ringsters continue to sad
die the towns with debts and by "ways TINT arc
dark plunder the poor, helpless owners,
the time is not distant when oil the
values will be swallowed up in this remorscless
robbery. The taxpayers are beginning to noYc
In these matters, several meetings OF those hay
ing recently been held in Lake and Hyde Park,
and some Of the villains who have been rob
bing tie people of their money do not find
themselves in States prison it will be because
they skip out !" in time to escape 1t.
THE LOAN alARKET.
Agents have done slightly better business
the past week, and have several applications for
loans under consideration, with good expccta-
tions Of bringing them to happy conclusion.
The weakness in the rates OF interest is the main
feature. Capitalists are disposed to
take lower rates where renewals are
asked for, in preference to gobb1rng up
the property, and even where there Is norc1ucst
for an extension, the money-ender is
not at all anxious to handle his funds, and is
willing to submit to concessions SO long rs the
borrower keeps up his interest The market Is
not active, but 1t Is improving. In comparison
with new loans payments cannot be reported SO
good as they we're ut the commencement Of the |
month. Some agents who made reckless in |
vestments in times past are doing little else |
than selling out their customers.
The important loans Of the week were as fol- I
lows:
Michigan avenue, between rwenty-ninth and
Thirtieth streets, 50 feet, cast 'front.' $40 000 fire
ycars, at Z per cent.
Fifth avenue, between Monroe and Madison |
streets, 20 feet, west front, $1,000; five years
1t 719 per cent
State street, southwest corner Of Van Burcn
street, 5ox10o feet, 100; five years at per
.ent.
Centre street, between Franklin and Sedg-
Ffck streets, 120 feet, north front, $500; five
Tcars at I per cent.
Bridgeport, twelve lots between Keelcy and
Farrell streets, southeast Of Archer ayeDnc,
III, 600; five years at 10 per cent.
Wabash avenue, northeast corner Of Congress
trect, 40 feet, west front, $4,000; two years at
pcr cent.
Calumet avenue, 95 feet, west front, north
ast corner OF Thirty-second street, st, ,0o0; four
ears at 8per cent
oNrARAr1yE STATEMENT FOR THE WEEK ENDING
AUG. Is. |