, 1877-07-01
REAL ESTATE.
Renewals the Chief Business Of the
Real Estate Loan Market.
Rates Of Interest Low, and Slow
Payments Reported.
A. Decrease OF 20 Per Cent in the Busi.
ness Of the Loan Market.
Foreclosure Sales Increase SO Ia Per
Cent Over Last Year.

The weeks business has been fair lit amount,
! chiefly made up Of renewals Renewing loans
| is considered the best method Of bridging over
tho difficulties which beset many capitalists and
! these fayors are readily granted when interest
ami taxes have not fallen into arrears. It is
confidently expected that at the expiration OF
another five years real estate will have once
more blossomcd and yielded fruitful harvest.
Low rates for money still continue, and the
snallness o[ the demand precludcs all possibil-
itr OF u rise. Payments are poor, and there
have been many complaints on this head the
past week.
The seni-annuM figures are apparently in ex-
cess OF the two preceding years, but :hey are
swollen by some $l3,0U0.000 ot railroad mort
cages, none Of which appeared in 1876. The
falling of in legitimate loaning business has
been fully 20 per cent from year to year, and
payments show an equal ratio Of decrease. This
is the saddest item under consideration, for as
large proportion OF the borrowing was done
five years ago, and natures this year, there
ought to be 4 large increase in the number OF
releases. The falling of in payments explains
thc advance in the number Of forcclosurc-sases
as compared with previous years. This adsance
is over 335H per cent, the month Of April show
Ing the largest nuusher Of sales and the
largest amount. Since then there has
been gradual decline. It must
be recolccted that many foreclosures
do not represent defaults in payments Of actual
loans, but are the outcome Of rea-estate specu-
lations, ana the habit acquired in prosperous
times of buying land On partial payments aud
giving mortgage or trust-decd for tic balance.
No doubt more than one half the foreclosures
may be traced 70 this s,'u:ec- Rea-estate spec
ulators have been Wecdetl out in lurge NUN bers.
The majority Of them have already gone
where the woodhine tWinetl,n and as their
nu;uber lessens the forced sales also lessen.
The probability is that we shall have fewer OF
these damaging figures to give IN the coming six
months than it has been our misfortune to do
at the close OF the first half year Of lo.7:
The important transactions of the past week
were as follows:
jackson street, II feet, south front, occupied
By the Woman's Home. 2l7,j3U, five years at /
peT cent. This property is now in the hands OF
c. B. FarwcEi, having been sold to him at Mas
tcr's sale fur S:2:55,50D.
Block d. Village Of Evanston, s150oo, five
years at s ger cent.
franklin street, SO feet, west front, bv 50 0l0
On Calhoun place, Sll0,0iO five years on private
terms. This is renewal OF loan made in 1Ss2,
IN which the terms If interest were per cent
FOR Sti0,00 anti s per ceut for $4,000.
LaSalle street, 130 feet east front, By IS feet,
occupied BY the SchloeSser Block, Sl34,55l five |
rcars at per cent. This is renewal at low |
.r rate OF interest. The loan Is secured by one
II the best built blocks In the city.
Madison street, 22219 feet, north front, 151L |
eet east Of Clark street, $4,000, live years at |
per cent
West Monroe street, 2s31h feet By 125 feet or
Oakley street; also, Oh By l49 feet, near the |
orncr of Western avenue and Monroe street;
;3G, 900, Eve years at per cent.
COMPARATIVE STATEMENT FOR THE wEEk ENDING