New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-02-13
RENTS DOWN TEN PER CENT.
BUSINESS LANDLORDS AND TENANTS.

BUSINESS LANDLORDS AND TENANTS.
UNEAsINEss ABOUT TIE SILVER AGITATION ONE OF
THE CHIEF CAUSES OF LOWER RENTs-FEw RE-
MOvALs THIS YEAR-A GENERAL REDUCTION.
1t has been usual for some years for mer-
chants to make of their leases or move INTO
new places of business about February. The almost
universal has placed the date for changing resi-
dences at May /. Business men, however, geheraiiy
begin their busy season at opening Of Spring and
that cOmpes them TO make their arrangements WIN real
estate agents earlier the year The number OF changes
this year seems to usual Very few proni
nenf firms have yet gone to new quarters. \ sfna'l
number have renewed their leases and some DINERS nave
begun NEGOTIATIONS which stu pending, either to re-
tain their present places at reduction or 10 OBTAIN
others at advantageous terms. Each year since
the panic the merchants have asked and received a
lower than the year previous This year they eh
pected the same thing, did not find owners SO ready
TO comply The proprietors of business property de-
clare TO their tenants that much money Is now being
the original investment that they can not aoid
Real estate agents say that the objection which the
terms Was nvariahly the agitation silver question
il caused such stagnat0n IN trade that every one was
afraid 10 make = bargain that was binding for long
period or for whole year These discussions lc
suited generally in reduction OF at least 10 per cent
from last wears prices This was concession both
sides the landlord wanting higher and the tenant
lower price Tue of the has served 10
keep number of firms in their present places. The
leases. however. were made FOR very short time.
Very few If Any changes have been made among the
t Chart Oak Insnrance Company One Of the mana
gers of the Iea! estate department OF this company
states that they expect some changes during the present
month The general removal Of the wholesale clothing
trade from White and Wnt"rsts and the vicinity to me
nclgnb0rhOod o. BroOmc and HoWarc-stN 1t hr bruau
wav is noteworthy feature OF business ne: lie gen
tlcncn's furnishing goods trade always lolOWs lhe
clothing establishments. wholesale CLOAK dealers nave
heretofore been scattered aud they are now concrn,h
ing III tie places left vacant by the clothing dealers
lon time In the ncigbOrood of the -; Nicholas Hotel
have beer moved further up Broadway.
Among the renewals OF leases and the removals OF
firms the following:
Avery Penabert & Co., glass; have renewed the Tease
No. Colegeplace for three years al so1, $500 ana
BateS. j. N. & Co., Wholesale dealers in dry goods
have transferred their goods from No 413 Broadway 10
their old building opposite. They lave leased ihc en-
Rcrlheimrr & Bauer large clothing dealers. in White
st. have removed, To upper part Of SO 3O Canal-s
Arnold. Constable & CO.'S old Wholesale building
Duu barlow * Co.. mercantile agency. who have been
for some year. at Wortst and Broadway, now NOV
ing handsomely gifted Offices at Nos 3l4 aud $40
Evans Peake Co., drygoods, have renewed their old
lease m
johnson Brothers & Co.. millinery. have removed
their wholesale establishment To No. 600 broadway
McElhenney a Co., millinery goods, formerly at NO
Jll Broadway, are now at o9s BrondWay' ,., =.
New borg d. l.. * Brother, clothing Dc acrs formerly at
No. 10 White ST. have moved to Nos ~ and % io"AdF
-rlgIndn, Nassaucr X Coz wholesale clothlig llel-
chants. at No. 80 We-st. have engaged the Dui!dhs 81
Travers b. d Co.. millinery findings. who have done
business Nos. 800 Broadway and - McTce-st, have
NOV ed Ia HOustoIi-St. ana DrOanMaA.
Ma.lach A. q l., dealers IN faEct dry goods. lolncfI!
occupied Nos 45l Broadway ana . Aerccrst, ana arc
now at No. 4J2 81 OadHay.
winfield Powers u CO.. importers and i"hbeTs OF fancy
GOODS. have removed No AL j. Oadway an No IL
Nercer-st. No. 800 Caual-St Tie building forhery
| occupied by Arnold. Constable q Go.
WOTthiDgton Swih, HiihLcry good, oil No. 90
Broadway have removed 10 NJ. CSC Broadway.
William f. Lloyd IL Co., real estate agents. VINO have n
large business in leasing buildings To merchants say
that this is dull Many firms have remained IN
fhr present establishments because the owner fcouctu
tie rental per cent tbs has been the case lrIAN
with landlords. The merchant, world not remain at !hc
old rents, because they were troubled Nv business
failures on all sides by tAc unsettled silver question:
Persons WHO obtained long lease of Broadway prop
erty years ago have since that time sule tue premises
and cannot realize the ground rent winch tlcN are
obliged 10 pay II Is conceded, however. on all sides,
that rents have touched bottom They cannon get any
lower without utter v running everybody VINO OWLS
prOmry The occupant has been successful! III gcltng
dccrcs year, hut ii viii certainly be the land
lords turn next year. noticeable fact II that there
are very few vacancies after the February renting
Last year there were more.