The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-12-31

buildings was 1907 $50 The additions and re-
pairs made In 1884 cost $ll6,54 and up to tho
lst OF December the sum of $95 $50 The aegre-
gate cost or OF the new buildings erected in 1884
was 1861, 1886.
INVESTMENTS IN REALTY.
In real estate circles there is a more confident
feeling than there was at the beginning of 1857
and. while no boom is expected during the next
year. the opinion seems to prevail that there
will be more activity in the market. 81 think
said John S. Spann, the real estate and rental
agent TO journal reporter, when asked his
Fie"s regarolng the present condition OF the
market, that In general there has been slight
Improvement in the real estate business during
1852 compared with 1884 and previous years, back
to 1873, which was the low period Since 1873
there ere, mas been slight improvement each year."
That was the particular nature of this i'm
provemeut9
Prices are shade better, and there is
Willingness on the part of men who have money
70 invest 10 consider bargains that they would
not have considered two years ago The gem
eral tone of the real estate market ia
healthy. Persons having property to sell
can lind purchaser. In 1873 no matter
what was offered, no one with money was willing
to consider bargains. The real estate marked
In indianapolis has been affected more or less bv
four things; these are the fluctuations of values
in 70 ard 70, the losses at Chicago, and the
bank saiiures, while the township trustee bust
ness has cut some figure in preventing inyast
ments. But notwithstanding these drawbacks,
the indications for the future are healthful
heal estate is regarded as better investments
Tor capital Interest at the rate of 81 per cent
was thing unheard of two years ago When
capitalists can't put money out at or DER
cent. they look for better investments. The OBJ
portunlties for the most advantageous invest
ments are presented in the real estate market
indianapolis is said to be growing, and is in a
IA fr1f 1na h,,n,.
Der of very important improvements now in
progress The new State house. the City Hall,
the Union Depot and the shops Of the Cincin-
natl and Panhandle roads. Any one who will
drive about the city will find everywhere sub
stantal evidences of growth and prosperity
think that we have reason to feel encouraged
over the situation"
do you expect any rise or fall in values!r
''The indications of an improvement are indi-
Gated moro in the willingness of capitalists to
invest than in a probability of any increase in
values. expect nothing but a gradual growth.
The truth is, the building associations are cutting
peculiar figure in the present condition Of
AFFAIRS, the outcome of which it is not easy to
solve at the present time. Doubtless they are ,
for the good of the town. / think the building
association presents solution of the COM
munlstic idea II the mechanics own their own
houses they are interested in maintaining the /,
community. On the other hand, when a man
goes into building association with two or
three hundred dollars for the purpose of build
ing house, he is likely to fail in it. Nobody
knows the value of money until they have
earned it. The man who builds with borrowed
money nearly always overbuilds, and goes to
more expense than he can pay. The man build
ing on money he has earned is not likely to go to
greater expense than he can afford. Another
thing. the building associations are the cause Of
more houses being erected than there is need
for. In consequence, the number of vacant
houses is increasing"
HAS there been any reduction or increase in
rents?"
"At this time there is enough of reduction to
warrant the statement that rents are not as high
as they have BEEN Every winter the mechanics
and laborers begin crowding together, and
always through this cause there are more va
cancies than in summer, resulting naturally in
the reduction of rents. However the rents on
business and dwelling houses in the central part
of the city has been reduced very little Our
own experience is that rents generally are about
as good as they were in 1884"
How do you regard the outlook for the fu-
ture?'
'We are not going back any, but we are going
ahead slowly and steadily Doubtless you will
remember a few years ago a little book of prog
nosticatlons published by some man in Ohio.
named Benner. In it he makes the historical
conditions of business the basis for
his predictions regarding the future. In his
representations he says there will be a gradual
improvement for several years, and makes 1888
the time when marked change for the better
will begin. l do not rely upon Benner's pre-
dictions but up to the present time they have
been about correct. don't think we have any
occasion to be discouraged Seven or eight years
ago everybod was more in debt than now. A
man in debt is not inclined to make any ventures
or strike out. People are now getting out of
debt and are much more eager to invest in real
estate than ever before. This is always pre-
cursory of an improvement in the times"