New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-10-08
MORE REALTY AT THE EXCHANGE.

AT the Real Estate Exchange yesterday was one
of the sem;-weckly occasions OF the bulletining or
registering OF new properties offered or wanted,
undei the recently adopted rules. The attendance
nj the brokers' meeting was the largest OF all the
gatherings that have taken place lhere was more
new property offered recorded and more new
wants placed on the list than on any other
previous occasion. The indications certainly point
10 n healthful growth in this feature OF the tx
cDanc5s work Many of the brokers speak en-
cOnragingly of the advantage which has resulted
fro;n The publicity made at these meetings OF the
nrouerty which they havefor SALE They say that the
nunber of inquiries has increased ana parcels that
were announced for Slle i'll me Record and Gulde a
connie OF weeks ago received HOIc attention from
PEOPLE seeking investment IN realty than they had
got previous to their publication. OF course no
property is registered at the Exchange which the
brokers Offering it do not have sole control of.
BY means of tie Exchange pledge" said q
broadway dealer, yesterday, bushes Is facilitated
yreatlv A member of the Exchange in Offering
property bullctined by another knows that he can
do so with as much cOnhdcnre as II no had IT given
into his charge by the owner 1t he sells 1t he re-
ceives half the commission paid to the broker who
received the property originally and the owner
knows that there IS no danger that he may be called
on to pay two or three commissions TO rivals who
have been hawking the parcel AROUND lhulscrIIl!-
nately." .
busIneSs at the Real Estate Exchange was abused
by some of the members. 1t has been charged that
sales were washed for the pur pose of influencing
the market outside and properties are SAID to have
been bought IN bv owners at prices far III excess OF
what they were offered at privately beforehand and
in few cases could certainly have been bought lOr
The board of directors of the Exchange have re
solved thoroughly to investigate these allegations OF
fraudulent sales and Il the charges are sustained
take PROMPT measures for the prevention OF the
abuse in the future. The board met yesterday and
selected the following committee to inquire into the
matter: George G.. Dewitt, Jr, Myer ,: isaacs,
Jnlcs f. Brugiere, Ferdinand Fish and Morris
wilkins.
WILLIAM HEATH'S UNHAPPY CREDITORS
The Manhattan Railway stock which William
Heath & Co. bought for Mir. MorosinI and after
ward pledged IN a loan at the Bank of New.Y0rk
has been transferred to the name OF w orden d. Co,
a well-knOwD Stock Exchange firm, which does
much of the banks brokerage business ! he trans
fer has no Significance so far as the claim OF MI.
MorOsini as a creditor Of the broken firm is con-
cerned. the transfer makes the stock good
delivery at the Stock Exchange, quality which
was taken from IT by the failure. Without the
transfer the stock not negotiable
without a power of attorney from the
assignee of William Heath d Co The
transfer may not be followed by an Immediate sale.
It's doubtful If WOrden 81 Co have seen one of the
certificates placed III their name
A story atOat in the street that :. V. White
told Mr.. Gould yesterday that his loss of $500 900
was a deserved punishment. Mr.. White reminded
him of an occurrence last year when he received
notice from William Heath & Co. to take up q large
lot OF Missouri Pacific stock which the firm had
been carrying Mr. Gould was angry ut he action
OF the firm. Mr. White recalled the facts and sug-
geeted that the loss III the nature OF fine for
an IndscretiOu.
The $50, 900 which William Heath & CO. owe
Addison Cammack Is understood to be the residue
of large profit which lie had made IN the Office