Daily Republican., 1883-09-28
FxIDAY. sEPTEMBER -. 1858.
Rents, Real Estate sales and Bus.
fnes0.

by purchasers or renters is falling off.
Building Inspector Chandler inform
us that the number of new dwellings in
the city will reach about seven hundred
and fifty the present year, which is
about one hundred more than last year
when that was the highest ever known
A gentleman dealing in real estate in
formed us yesterday that there was an
evident and sensible falling off in the
demand for houses to buy and that it
was an undeniable fact that rents were
falling to such All extent that houses
whic h rented for fourteen and fifteen
dollars month are now renting for ten
and eleven dollars. This is borne out
b v the fact that sthere is no difficulty
now in getting house to rent-the rent
columns in the papers containing almost
pick and choice, one real estate firm ad-
vertising "houses all over the city to
rent" The reason why the sale of lots
still bring reasonable figures is thai
they are purchased principally by spec
ulators with an eye to an increased de-
mand for lots in the future. A gentle
man informed us las: evening that
little less than a year ago he bought at
. sale in the northwestern part of the
sity several hundred feet of building
los at three dollars a foot and sold them
at public sale in less than year for
six, and some for six dollars and sew
enty five cents foot. This was prof.
table turning of the penny without 60
ing into the expense and risk of build
ing upon them. The same lookout for
purchases in desirable localities will
always insure ready sale Of lots, es-
pecially in part of the city :hat is rap
idly improving.
But there is bright side for Will
mington in this apparent OveEplus Of
new houses this year. The building
Inspectors informs rs that never be.
fore were 50 many houses erected by
individual enterprise. Hundreds Of
business men nd well-to,do mechanics
instead of going to the real estate dealer
to purchase house in some crowded
part Of the city, now 60 direct and pur-
chase their own lot--one big enough to
have yard at least at both ends and
one side, and then they employ mechan-
les to erect house just as they want it
generally with all the modern inside i'm.
prOvements and with all the latter day
architectural characterization. So great
is the demand for these nice, snug,
snowy cottages with yards on three
sides that the old style houses for rent
and for sale are principally in the
crowded, built up portions of the city.
But while these new houses are being
occupied, those from which the occu-
pants removed are empty, and hence
the constantly increasing number Of
houses 70 rent.
Another view of this question is not
A. encouraging as we would desire.
Though there has been but little said
about it there is no denying the fact
that some departments Of manuiactur
ing enterprise is dull at the present
time In some Of the car shops ther
are more hands laid off than there are
taken on when the time comes to 90 to
work again. These discarded hands
must crowd in some other place, at re-
duced wages perhaps, or they are com
PEELED to leave the city and go else
where in quest of work Though Will
mington is singularly free from
failures in business, yet the causes
which operate in other cities as to pro
duce such failures as those Of the two
wooden firms in New York with liabil
it es a. two million and one and hall
millions respectively, must extend To
certain extent TO our own city. If these
two failures stood alone they might be
regarded az exceptional, but other fail
ures recently such as that Of the leathe
failure in Boston and New York ant
the Pullman car works III the West
com bined present rather IA disCouragin,
business aspect. An effort, we know
is made to make the public believe tha
b.n 81 ly
die, lut it is evident they indicate NOR
than that. They indicate that the mar
ket for the time is Overstocked and the
also indicate that there is too muc
concentrated capital, machinery all
labor on manufactures. Populatio
tends in undue proportion to cities all
manufacturing centres. There seen
to be more steel works, iron works, ca
works, woolen and cotton factori,
than are necessary to supply he d.
mand for manufactured goods. The
is no doubt that this over prOduCtlG
tends to keep down labor wages and ii
drawing of so much labor from I'll
agricultural to the manufacturing Gel
tres, has tendency to raise the pric
of farm labor and at the same time Il
prices of farm productions.
1t is not surprising, then, that th
unequal distribution of labDr shou
work ont Just such results as lead
these heavy failures and which are fe
to "A certain extent, in this city. II
not difficult to see that laborers throw
out OF employment here must have el
ployment somewhere, even if they ha'
to leave the city and remove to II