Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1884-12-14
A QUESTION OF RENTS.
Prospects Of a General Reduction
Next Year.
Depressed Industries VIII Force Them
Down---Wheeliag' Lack Of Decent
Tenements - Difference
Between Certain
Localities.


We are now at the time ofthe year when
everybody wants to know what the prospects
are of renting dwellings for the ensuing year
and also whether there is any prospects OF
new buildings being erected in desirable por-
tons ofthe city. With view to notifying
all persons interested. REGISTER reporter
started out yesterday to interview the real
estate agents and contractors.
The first gentleman approached was
we'll known real estate owner. In response
to the query "How is the real estate
businessY' he replied, mot very
good. Everything is remarkably dull and q
fair prospect of it so continuing"
"Will rents remain the same as last
Year,
II do not hardly think they will. l be-
ieve they will be much lower, but then no
one can tell positively from the fact that
should business among the industries Of this
city brighten up early in the incoming year,
it is very likely that rents will remain I'M
changed in majority Of the cases. While
on the other hand should the business Of
the mills and other industries of this city
continue depressed until next spring aud
summer their rem will be % per cent.
lower than they are now"
What is your reason for making such
assertions
"Why there is nothing simpler. The
majority OF tenement houses are occupied
BY men who make their living by working
in the industries OF this city. Now if they
cannot get work, how are they
TO be able TO pay rents2 They will
be required by necessity to
look for a cheaper house and thereby cur
tail their expenses. Men owning these
houses and also the real estate agents know
that they had better reduce the rent and
make certainty Of getting it, than to hold
the price up to its present standard and in
nine cases out of ten lose two thirds of the
rent. When men have not got the money
they cannot pay any rent.
A visit to Mr.. Walter Rinehart's real
estate Office found that gentleman busily
engaged talking to we'll known planning
mill man. The scribe stated his errand
and learned the following: In the Second,
Third and Fourth wards the demand tor
houses Of from four to six rooms was in OK
cess Of the supply and he believed that rents
would stand at the same figure as
last wear. On the Island rents would
be reduced some little, owing almost entire
" TO the dread Of high water by the people,
though in some instances the reasons as
signed were that houses situated on the
Island were entirely too far from the work
ing place Of the applicant, Mr.. Rinehart
did not think that there would be many
new houses erected the coming year, other
than those to be built BY men who had
saved enough money to build a little house
for themselves.
A gentleman connected with one Of the
largest planning mills in the city inter
rupted the conversation, saving; Wheel
ing differs from most all the cities of this
country She has no capitalists who invest
their money in building tenement houses.
Though there have been a great many
houses in this city in the last six years,
very very few of them Ysse, built by men
of capital 1t was the working - who, by
the sweat Of his brow. made and boarded up
the money to build him home. The men
of capital of this city lack enterprise. There
is not tenement house in the city that is
built with view of comfort to the inhabi'
tant, but what is occupied by good paying
tenant Why? Simply because the house
is not an old rsttletrap which is eternally
out of order, or is building which was
erected for private residence and then by
the expenditure of few dollars turned in
to a tenenemeut house, that is two, three,
and sometimes four rooms cut of and
rented to a poor family. These kind OF
houses give very poor satisfaction, while
houses that are built especially for tenants,
always give satisfaction. Wheeling lacks
the live, energetic man with capital, which
is found in all the cities Of the United
States
Mr.. G O. Smith, the well known real
estate agent and broker vas called on. He
said: "In the central portion of the city,
business and tenement houses are III de-
mand and rents will not decline. There is
a good demand for houses and property
on Sixteenth street since the laying Of bricks
on that street. In South Wheeling rents
will be lower. The houses rented In that
portion OF the city are occupied By mill men
principally, aud owing to the depression, OF
rather the curiailing Of men at these indus
tries a great many Of them are now entirely
out of employment with no prospects OF
getting any work soon. These men will
have 10 give up their houses and the Eaturai
consequence is there will be great number
| Of bouses vacant in that portion
Of the city and parties owning
the houses will want them rented
even though tley do not bring more thar
eight.tentbs as much money per month.
think that the houses on the Island and IN
North Wheeling will rent for the same 6g
ure as heretofore, because number Of PEG
pie living in the central portion Of the city
will want to secure houses for less rent and
The rents on the Island and in North Wheel
ing are much lower and always have been
than in the central portion Of the city. One
great thing in favor Of the Island now is that
the houses are in much better condition
than they were prior to the food, The food
, caused the property owners to make needed
and substantial improvements which make
the residences much more desirable, Tit
money market is very tight, Loans never
we're harder to negotiate. Mill and glass
stocks which are being sold never find ptr
chaser without at q great reduction OF the
face value Of the stock; therefore person!
holding such stocks should hold on Il
them"