The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-04-22
BUBBLES IN REAL ESTATE.
THE RtPTD RIsE AND RFMiRRfBTr
row FfLL or DIMOCK NH.
a, Instructive Sale of CITY Lots by Auction In
Elizabeth. n. J.-some Recoiiections Of -
suhurb that rrospered for n Dny-The
Th,rd Avenue savings Bank Com mpiicsttons.

Th,rd Avenue savings Bank Com piicst,on..
The long pending suit OF the Third Avenue
Eayiugs Bank against Helen W. Dimock and A.
w, Dimock. her husband. being proceedings to
forcclose mortgage for 100000 made by them
10 the bank and the counter suit OF Mr. Fred
Buttcrncld against tho bank to set aside the
banks mortgage THAT second mortgage OF the
Dlmocks TO him for $3.50 900 might stand hrst).
were concluded some time ago by the Chanccl-
Ior of New Jersey, tho Court OF Errors. on ap
neal. maintaining the validity OF the mortgage
pf the bank Under the decree Of that fore
closure. the mortgaged property was sold on
Saturday by Andrew kirkpatrick Special Master
in Chancery. ut the Court House in Elizabeth.
The mortgage OF the Dimocks TO the bank for
hoo 900 was not made entirely for cash. o. w.
Joslyn 4 Co.. stock brokers were manipulating
n pool in Atlantic mail They borrowed of the
Third Avenue Savings Bank large amount of
money The bank ultimately found itself the
owner Of stock TO the amount OF $4,000. which,
with s2s 900 cash. il handed over to Dmock.
nking his wiics mortgage and his bond for
BOO. 900 Nor is 1t known that this large But
tcrncld mortgage WAS made for cash. Dmock
Ind extensive dealings with Mr. Fred Butter
hold and in settlement. or for security. or in
some way. this mortgage OF quarter OF mill
lion was given him.
"In this suit Of Butcrhcld against the Third
Avenue Savings Bank" says the Chancellor OF
New Jersey. II the defendants, Helen W. Dimock
anl Anthony W. Dimock. her husband, mort
gngors and owners Of the equity OF redemption
and T. W. Buttcrncld. holder Of II certain mort
gage ask leave to- file supplemental answers. to
show that the bauk. in loanin. money outside
New York State were acting uli'd rreS, and
they apply for permission TO sct up this de-
fence" Tho Chancellor refused the leave to
amend and said: Tho defence il one which
this Court will not extend its indulg nee TO ud-
nit 1t is unconsconable. both as 20 the de-
PENDANTS to whom the loan was made and As 20
Burrrneld whose mortgage WAS taken with
full notice Of the existence OF tho complainant's
encumbrancc"
From that rulng;hc Dim0oks and Buttcrfcld
appealed to the Court oi Errors. hat the Chief
Justice. in an elaborate view Of the case. nd-
miiicd thnt the defence might have been Il good
one IL intrrpOsed at the proper stage, AMI sus
tanned the court b,lOw In refusing hy decision
IN equity 20 have thr pealinCs amended Tor tho
admission Of M unconscionn,le " defence
De,rcc was finally gnieg.d in i3,.r ol q" ,@nk
ditional for taxes paid 10 the city. and an award
for costs Of t9i2GG Although the courts IN New
Jersey refused 10 entertnin Mr.. Bui"rnrld's
"unconsconnhle plra." ut the proper stage Jus
ticc was rendered him. and dccrr" against this
prop.rty was entered iot im IA thr .'nourt 81
10 1871. one Mar-h hnt drcrec against mo
SANE properly i.r s515.l5 and Mr. llomling's
claim of sS59.9l wis also ndlnrtcd. To gct
thcsc various n'nounis out y a. property wa-
NJ, Special Master krSra,ricH- inty.
was hard Tor the bank. Elizlieih property went
from bad To- worsr. particularly va ant l.t,.
been of great saving 10 the owners Of property
in the newly paved streets OF ElisMbrth. The
qsi prop'rty T 9 ON both sdes Now tho property ank
Ing the improvement only can be asscssed for
the benefit II Is supposed 10 derive from the
pavement TIE property mongnGcd to The
Third Avenue SAVINGS hank hy pino,k wa- as-
t50 900. the difference OF slU0oOO heing borne
10y the city IN general taxation.
1859 20 1873. Mr.. Dinlo K and Ms rathcr M.
fashioned srmi-STiss residence were, tn ob-
iects around which r,volvcd the pcople Of the
ncighhorhood; They were community In
themselves. The old SETTLERS who considered
El2abeihtown shcd nliy years ago and who
did not receive new comor- With much grace
looked on the rovclry Of the hin with aston -h,
ment nd a shrug which meant How long Will
II lAsi2' The growth of the II III was rapid. hut
IL pnrtOok Of the churn 0terislics oi u fungus in
sion. new comer was horrihcd on leaving an
order Tor 81 lNprnny loni, wnen the baker IN
sst' = on eiAh d"wn; NJ llr would not trust any
considered damage To Elizabeth. The res
idenis weIr good fellows; howey r. James 5.
had chocolate-colored outside ii, hue helu.
borrowed from hon-,,q,n ,al Maillard's. for
bird. - paradise: And there was Mr. Dimock's
first lieutenant. Nj. Cha-. Dav, who drove
par ut tlny ponies 10 lll'' rhllfOl station ana
there too. but somewhat broader. was Billy
Bruen. who sticks 10 the Hill. and Is now the
Ity Irsas7Hrer Of i: El'igOcin. c The hey. Pr bi
charge. The peopi" were IN tnc main taptlsts.
fprthur south there was another Mr. Miller, in
and there was John NJ. Ramsay who wrote
Es S'0tns item 'iS back I6 HS9' 6s dRk Sess
And later the citizens Of Elizabsth heart
%cnSei SS,SHSa PSpss fp Lost ATS Arts 'esI cHSs 81 wh
ney. a clever and modest lawyer Of New York;
ST pTrsn se Mt Sone o he H Fren cah a@h
WAS Mr. Edward jordan, some time Solicitor to
me Treasury: from Washington. DIR; MAYNARD;
Legislator o. NV Jersey. was on the plaosant
neghGor Mr. John VI. Cowell who was in the
Eity Council; and hai tho salary Of tne Mayor
pany. ,cast bis lot on the Hill for a time, hut
moved TO . - prctcntious part Of the city. Mr..
Ilmothy knnnsy was there hut ne had falr
cain 70 recognition nthe cty Tor his sister ior
yyqts hHi conducted an academy on Quality
Nlili "-9rg- Putnam ,Smil. Ilaawyrrqi New
iork, took NJ In. abode on tho Hill. Hi- com
lne WIS rhin"r uni riunHc for the city; for II Is
manly ~ his l'r~l-irp"o that the assessments
Tor wood paycmen's undor the Old system.
tirore' !. Putnam. has conducted sg' ,n.s lMliy
rera H@a ,s ,s "GeFi' g ,c GH H. w. H. F5
Hhd Is ON" OF the i,W who sticks When the
Hill III. h.. II, NE I;y Dr. Miler they eot in ms
freshman. Tho Baptist church has shared in
thc luuintio ons 4 H., members II is now owned
ly the Mothoiist7 who formerly worshipped in
g. Iaui : Church, East Jersey street. Vaughn
Dwo'f partner ol Jim Myers, lived in Il
Nlrr.ssry.
Tn. prnple of tho Hin liyoi high and s1uan-
nerel money, The draWing-rpom furniture In
4 W. limuck p huus" WAS made to order OF |
irrn oak, and cost $4,000. the chairs con
oehrd nlus" boxes, ana II 1t MAS 4, sired that n
Eu.7i ~ Ould shorten his visit they turned a
wy cr'nk, nnd he heard the suggestiyp tune
~ they miss me at homeF Tho Union club |
bthhln was substantial institution. butt nt n !
,ls' ~ $4,000. to answer the purpose Of a club |
lor n"u aud women. and iorstahlc. c9ach house. !
nnl goat house. The members had notrouble
Milh h9l-es or carriages. The indoor servants |
uh'y all had men scrvanrsi found the equi-
Lag'7 ready at the door, aud when he returned
Fropm Of the club stable took the establish
m.ni ind made the whole thing ready in an
upur, u Il was wanted. The Superintendent Of |
ue rluh stable got q 800 u year Tho club had |
hh omnibus 10 take the mcmbers to and froA
Ve trains. None but members. however had |
tne use pi H. Since the panic OF 1873 the club |
ohhihu. has been doing democratic work |
.l luNl Elizabeth at ton conts pHsscnger and |
Nm 'lriFrr asks n0Qupsiions and scans no fares. |
I f,II A.