New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-09-16
MOVEMENTS AFFECTING REALTY.
TALK ABOUT THE PROPOSED EXCHANGE
THE MARKET STRONG AND BEGINNING TO MOVE
SALES LAST WEEK.

TALK ABOUT THE PROPOSED EXCHANGE
THE MARKET STRONG AND BEGINNING TO MOVE
sALEs LAST WEEK
The occurrence which most interested reai-estate
men last week the preliminary steps taken
toward the organization of real-estate exchange.
AS yet the plans are almost inchoate, bnt tue cum,
mittee in whose hands the matter has been placed
is earnest its resolution 10 push tile organization
as rapidly as possible. There is general support
given by the large rea-estate brokers 10 lhe lue'
OF an exchange although few are Standing some
what aloOf. These brokers, however, occupy no
such position as the t:adesd0es generally toward
the exchange which was opened last week unuer a
title that sought TO identity the real estate interest,"
with 1t. The promoters OF the latter INSTITUTION
did not solicit the largest dealers to take part III It's
organization. and hence there Is little disposition Oh
the part of the trade 10 assist It,
The names of the members OF the committee APP
pointed to organize reai-estate exchange now
ever, are guarantee that. II carried out as pro-
posed, it will be "A success. prominent dcaier
SAID yesterday: 1.-The present exchange Is no more
than an auclion-room. 1t Is an exchange III no
sense of the word. What is wanted Is an
organization which will bring together not only
brokers aud auctioneers. but property-0wnefs anu
capitalists. There manv Interests affecting rear
estate which need the protection OF respeosao,o
representative body. We want such matters as
taxes real estate. mortgages, ASSESSMENTS me-
chanlcs hens otc.. 10 be looked alter Dy SOME per-
sons who will represent the trade a unit. III tltro
had been solid real-estate organization In exist
ence at the time, there would have been member
of the Aqueduct Commission selected IRON H. as
IRON the trade so far as we can the curbstone Dro-
kers, who combine among themselves TO influence
sellers buyers of property 80 rs unduly 10 aHec
proposed transactions Iany or these people attend
the present auetI sales and make remarks abOut
property that Is offered likely 10 lGfucAcc the Du-
ding the part OF persons VINO attend TIE sales Ill
an exchange officers would DO detailed to prevent
such tactics as the people who practise tuem 40
not stop at Misrepresentation or lying sucn an eX-
change AZ is proposed would also DC va uablo as
court which would settle all disputes between oTO-
4
an organization 10 protect their interests. tine
builders are talking about organizing an exchange
aud there Is II real need for ali Interested IN real
estate TO have central body to look alter their
interests"
The plans for the proposed exchange are not
formulated. Az the auctions, of course the pubic
would be adnI,tcd. but the Prices OF seat, VIII DC
fixed so high mat only thr best classes of brokers'
dealers and proprrty-holdeTS Will PROBABLY take
advantage OF Tie exchanges facilities.
The real-esiate market last Week was stTOhg ana
the activity was Judy what could be expected NJ
the present time. Not Ill next mOntn can decided
deveiopment DC expected III the mar@et. Ihefe Is
only "A hundiun Business uOne III east-slao
properly, bur the dealings AMI inquiries FOR west
side real Y indicate promise IN tnat direction.
good business Is being uOnc IN the renting OF houses
and dealers say that IN some respects tbs pe en- -
the best season Tor renting. lug aries come from
people wac nave glvoIup tnelr houses on leaving
town and from those VINO avoid May as
a bad time III which 10 drive a
good bargain with landlords. rlers is a general
slackIug-up OF building operations, nut dealers
regard tnls rs rather favorable feature. rcduc-
ton III tue supply OF house, 10 ~ argued Is sure to
affect favoaJly the market Tor the remaining
property. In iact, the recent strikes which have
discouraged building Will remove the danger OI
Over-p ouuctlou III TINS line.
Inc private transactions iast week were nos nOta-
Ole. A sac Of properly III EIith-ayc., between
lhIrtietn and Thirty -trst SIS, made by :. j..
HIbOerd ~ Son for $1,000 NIB. 81 ana 339
East Seven. y-second-si. nave been bought D
DenuoT q Zeller Iur TJ7 700. No. ii East fIiteth-
st. has been sold by GcOrgr Kemp for $4,000 The
three apartmcnI-hOu'es ~ Nine y -lirst-st. ana
Ninth-aye. nave been sOid Dy joan o. Prague to Is.
W. CIowninsheiu Tor $4,000 casn. /. l.. u.
Power bclug tho broker. OrUfge ArOInsicIm has
sold two hats on the side of Forty lOuItu-st
between ann aud Irnth aves.. tor 81 900. No.
% West Twsuty-fth-st. has been sold Dy W. ii.
Streetcr fOr 10000.