, 1879-05-11
Iscs Nos 1877 and 109 IVES. Madison street, togcther
with the policies OF insurance thereon.
SUMMARY FOR THE WEEK.

Ises Nos. 1e7 and 1oo wes: Madison street. toscthe
| with the policies OF insurance thereon
! SUMMARY FOR THE WEEK.
| Tho following is the total amount OF city an
suburban transfers withn rndins ot seVGn 81 rae
sae4ao eRnf sat?sdn{ y os; May aoih ao of city
L. consideration 81 200; @ south Of city IT., nms saso
sses l constdesations so a S; '0'ai sAe
The new law, enacted by the present hes1sia1ufe'
| ABoL1sH1SG SUMMARY FORECLOSURE i
under trust deeds, and saving tho borrower hls
equity OF redemption by compelling foreclosures te
made BY conr nus 9e9n na nssra
1t will make any noticeable difference IN thc ous1-
ness OF lend1ne money on mortgage security: fore
little. Such agencies az that Of the Connecticut
/ Mutual always foseclose by suit in Chancery, no
matter what may be their paper right TO summary
| foreclosure. Good real-estate lawyers long aso
| ceased to ,
in which such summary foreclosure was part OF
the chain. 4 quit claim deed Is insisted upon in
mary foreclosure has been long time a. o'shed IN
the Eastern States. The recent change in the 1lli
nos law is recogntGed as merely read1 nstmcnt to
our present civilized condition Of law passed
when Chicago the frontier, and when it WIS
necessary to ent1ce Eastern capital here BY giving
them every inducemcnt to make Western loans
attractive.
THE LOANS
amounted to so5l, 553. against s340 52s for the
previous week Rates remain ut 7Go per cent,
with concessions 1itst-c1ass loans.
There were ntnety-three
BUILDING PERMITS
issued during the week Among them were those
to Matthew Hayes. livery stable at l88 and 1888
North sAuganon, for s., 500: A. A. Reece. two
to cost s., ao6; r IL Harvey, barn ut Sal Praifiee
ayenue, to coat So, 600; Mrs. n. N. Donoshuc,
two-story stonc:tront at 1877 Wabash avenue, to
North Water, near Dearborn. to cost $50. 600;
Augusta paulsen, two two-s.ory dwellings at 712
and ~ Wells street, to cost $4,000; Girsh
on Michigan ST. Clair street, to cost So, 500;
Michael Burke, barn OH franklin, near Clark, to
cost 900; Jusus Lochr, three stone front
dwelling on La2nfIe, corner Of Superior. to cost
S. 600; H. J. Winslow. three three. .story stone-
front dwellings on Ontario, neur State, to cost
Nofe te oos S. soS T.
North LaSnlle to cost SIS. 800; E. Bauman, fifth
sGy On the nS Of aa In
the vicinity Of johnson and Eighteenth; Charles
Pope, three elevator on STATE, near Schiller,
to cost $40, COO.
An important auction sale Of
BROADWAY REAL ESTATE So
took place In New York last Thursday There was
very large attendance, attracted BY the announce
ment that the valuable real estate owned hy Brooks
Grand street would be sold Mt nuction> Included |
In the crowd were a large number OF prominent |
real estate owners ant many representatives OF the
dry goods district. The property has frontage Ut
100 feet on Broadway, zoo feet On Grand street.
and 100 on Crosby street. It was formerly occu-
pied BY splendid brown stone building. which |
was entirely destroyed III the disastrous re Of Jan
is last. The Auctionecr announced that 90 per |
cent Of the purchase money could remain on bond |
and mortgage until 1881 or longer, and that the !
property would be sold in two parcels OF 5ox200,
the purchaser OF the corner plot to have the !
privilege Of Iaking tho inside one At 25 per cent
below the price the corner one was knocked down +
at The first bid for the corner plot WAS $780, 000
and this WINS quickly increased by S 600 bids until
S195. 600 was reached. Then there WIS a halt for !
4 few moments. and tue plot was knocked down to
Adolph Bernheimer& 4 = e., Co,, d7y-goods commission
would take the inside plot ut the 25 per cent re-
lucrion {or $148, 534), but declined. The plot |
was then put up for sale. ana was knocked down
% him for s135. go. making The price Of the en
Ire plot of l00x2Oux10O feet S333, $50. AS there
ire no buildings On the property, the amount real
zed is considered BY reu1-esate men as very good.
The rate Of interest in New York City for loans |
N bona and mortgage OF the best class has de-
lined to about S per cent per annum. Some loans
ire making at 81 per cent, and borrowers not in
,ood credit, or who do not have the best kind Of
,roperty to offer as security. have to pay 9 and
'er cent.