The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1881-05-17
REAL EaFATR Anp aoAEY.


4 BsaFIh Of small HORsea-Big Ones q
DFug-lnVoslmsnIs N Real Estate ~
InVssImenis, RepOFtsd DaII-A HAT 70
CHpIialists.
Our amiAble, Veraclous and heightened
contemporary, the Regilts, in one Of Its
verbose articles Of . few days
since, declared that money was such
drug in the market that everybody had
plenty and intimAted that the entire pop |
ulation laid awake o'nights wondering
how they could get rid Of 1t. A present
and prospective "real estate boom" was
one OF the inevitable facts set forth as the
result Of an interview with 4 capitalist
and real estate owner, in q manner, that,
II correct, would have made fellow with
q comparatively dirty set Of alHsF nails
feel quite well'to do.
As the topics OF houses and lands is one
Of pretty general interest 10 everybody,
an INTRLLIGRScRR reporter set out yester'
dey to get some impartial and reliable
data for the public. The first call made
was upon Mr., Alex. Bone. This gentle
man, besides having considerable exper'
fence as real estate dealer, as . broker
In bonds, and negotiator for lenders and
borrower is possessed Of q tund Of intoF.
nation relative to the general value and
auctuntion OF all sorts oil property. both
real and personal, that enables him 70
speak with precision on the topic In hand,
and which he did as follows:
"Real estate 10 very quiet now IN TINS
neighbOrhood. There are more people
who want to sell their houses-I reier
more especially TO large houses-than who
want to buy. At present | have seven
houses, aud most Of them not far from my
Office, whose owners want 10 sell. cant
give you their names, Some Of them
wont even let me advertise them for sale,
but want any negotiations made quietly,
The properties range In value from i've 10
eighteen thousand dollars, Then l have
some fifteen smaller houses In this city
whose owners will sell al very reasonable
figures" ,,.
Rsp.-"Ars Wheeling capitalists invest
ing now to any extent In real estate? A
paper here has spread abroad the impres.
tying up their loose cash."
"suCh is not the fact OF course you
and know that real estate In wheeling
10 safe way to invest means, but o. the
same time Il cannot be disputed that there
are more iavoriIe ways, such, for instance,
as local stocks. constantly have inqul'
ries for glass, iron, bank and insurance
stoCks, But real estate Is quiet. OF course
any amount Of money can be borrowed on
real estate but out and out purchases are
not sought after with avidity inst now" :,
Rep. "What do you asCribe this condi'
ton tor"
MIR. b. "Well, mainly to the fact In the
decrease Of rents In the better class Of
houses during the past year. There was
so.and.so'a house that rented for $500 last
year, It now rents for $500. So'And'so'e
that brought $500 last year, is now rented
Tor $500"
And hero Mr.. Bone lnstanCed quite
number OF rented dwellings in various
parts OF the city aud on the Island, which
were known to the reporter, and on all Of
which tenants he'd demanded lower rentals
and had got them.
|The fact is," said Mr.. Bone, "that there
| Ia general effort on the part Of those who
have bsen living In three, four and four
fhy year houses, 10 either get reduced
rents or cheaper houses"
"And how about the very cheap
houses2"
"rhere is constant demand for houses
renting for from six to twelve dollars q
month. They are scarce. could rent
twenty Of such In few daysit l had them.
The rents for such property keep up the
same Hs last year. But cspltaIists don't
care, usually, to buy this class oil houses.
They are generally scattered, and y is a
constant trouble to collect rents, while the
pother about repairs 10 considerable"
"Do'you think II would pay company
to erect tenement houses In or near this
city,"
Internationally. hear the remark
made many times each week. Ilthey were
constructed on late plans, and combined
neatness, comfort and roominess with de-
sirable improvements, ! think that
handsome revenue could be derived on O
IjudlCiously spent capital In that way"
The reporter next called on Messrg. O,
A. SChanfer 4 Co., on the corner OF Four
teenth and Market streets. The senior
partner was In and submitted 10 the inter.
view with creditable patience. The same
state OF affairs 90 reported by MIR. Bone
was reiterated by Mr.. schafier. The firm
had q number oil houses, ranging In price
from three thousand TO five thousand dol
lats, for sale. The firm also deal pretty
largely In West Virginia lands, and are
offering some hundred thousand acres oil
coal land, mostly located In the Third dis
trict. A number OF inquiries about West
Virginia lands had lately been received
from Eastern and Western parties by this
firm, and II is MIR, Schsfier's opinion that
II the railroads talked OF through the State
are determined upon that great enhance.
ment Of values Is bound 10 occur with O
rapidity that will be startling and very
saiisfyipgto holders OF land In the interior.
Mr.. sChsGfer said that few weeks since
q man Of means who talked Of buying
lands In Ohio wrote him for some inior.
nation about land In this State aud
Through 1.-THE resources oil West Virginia"
was induced 10 take trip. In the Third
district, and bought quite heavily. Lewis
Baker is making some investments In the
same neighborhood, understand" con.
tinued MIR. D., and nave no doubt thai
II this State had a Land Bureau for the
Examination OF titles that this would be o
favorile investment. That West Virginia
lands are bound to come 10 the front is
beyond dispute. 'Straws show which
way the wind blowS.' We have offers
now to exchange four hundred acres In
Missouri, ten thousand acres In Arkansas,
one farm In New jersey, one thousand
acres In Tennessee, one farm 10 Kansas,
two farms In Iowa, and some Columbus
and Chicago property for land in West
Virginia. -
Zine 4 stalnaker and some other real
estate merchants and brokers, were called
on, bat without cleaning any new gen.
eral facts different from those related
above. H&s. have several farms for sale
In this neighborhood, and also valuable
tracts Of West Virginia lands, and TO hear
Mr.. stalnAker talk Of them would make
your eyes water
So Il will be seen from The above that
the real estate boom In this city, 90 graph.
| t a. Il. Il -