New-York tribune., 1885-10-19
GOODOUTLOOK FOR REALTY
PROSPERITY OF TIE EXCHANGE.
NONRESIDENT MEMBERSHIPS CREATED-FEATCREs
OF THE MARKET.

NONRESIDENT MEMBERSHIPS CREATED-FEATUREs
OF THE MARKET.
Steady progress is being made by the Real Estate
rxchaUs se i'm attracting the attention OF dealers ana
nj nIoperty-owners and IN increasing the interest
ielt by hitherto lukcwarm members. lHe attent-
ance at the daily meetings OF the brokers gIoMS SAY
isfactoriIy and the bulletins OF wants anu
offers" receive constant additions, pIactlcaI
benefit is coming to many brokers thrOuBh S9 t!Gs9
public memoranda. ana those Wo nso oIv % are
confirmed IN their views OF the desiraPInly ~ wy
new methods. The advocates OF the reforms Delng
puShed by the Exchange are still courtng an open
controversy with ther opponents, but II LOOKS as ii
the worst enemies of the movement are dealers Who
fear il s iInprac cticable and who will not take the
pains to examine the merits claimed Tor the relolhs
The sphere of the Exchange promises 10 SHOW con,
siderable enlargement soon. 1t has already proved
n prosperous venture financially for the hrst YEAR
and its position IT IS stated, womb iGly @ @Wali@aht anu
the declaration of fair-slzed dividend. w nethCr
the surplus funds Will he so expended is an nl,
settled question. for the views OF the board OF
directors are divided on Tic subject. The Olpo
ncnts of dividend. OF coprsc. are believers IN lhe
policy Of extreme conservatism, Dut tIOSe "IO
favor its payment say that there Is no nced 70 Keep
the money Idle the organization rs not Il g
concern, nor has IL an extensive nauV 10 loNiuo io
continually like railroad. nuer lio -, cauTiI LUZ
divided among the stockholders Inc dIIett0IS lSI
week took a step which vii. probably fuTther ae-
NclOp the prosperity Of the institution. Many n,
entries are being made through the EXchangc auG
of prominent brokers for the buying ana selling Oh
property and the making oi MORTGAGE ioals III III
have determined to ober hoh-rcSiuelI al.i.dt mn
bcrships to real estate brokers and agents through
out the country for the sum OF 10 per year WIN IN
n membership of this kind secnred, broker having
inquiries for property IN any speciai patt ol III"
country can Immediately communicate WIN Ie-
spOnsibie person III that locality III Is alNp pIo-
Iosnd TO hayo at the Exchange maps. documents.
etc, relating to all parts OF the ChltEu EtAtcS, 80
that outof-tOwn brokers coming 70 80 oIH Iii III
consult these materials and negotiate mere ihteli
gently with their principals. IN ottOi,tpNn
broker holding Of these membcISnlPs VII IiiIu M
in tie Exchange headquarters Wndo ~ ; ;' ANY ,11
where his letters and tcleGrans may rcach MN, alll
whore ho make apfoiniincnts. reaIihI-lOoalt t
will soon be opened at the ENchahgG any i'rc ~
only will tho current news be roGorGel, Du' pupIi
cations relating t. real estate and Ouldhg INTERESTS
kept or ilo. Tho directors say tat everything VII
he done to make the LXchanGc SO IaI ~. loSNiiolo
;ud;snrns1blo fO all vino are interested lG realty
and fo Give it a standing which Will make lts action
a power in the business world. -. . :; .o
While tho activitv of the market Is rlofc III cAec-
tatou than realization. far business Is u"lhS uohc
with q continuance of the strong tone 'lcH h"S
sustained prices ior So long. ilo HHeIom e1 and
at the Exchange is enjoying @ecded IeyIv .iu ~
as could be seen 10y the list ot c'mlhs O"clhss ~ ~
Yesterdays TRIBUNE. th9 future promises sun
greater activity. There Is niue doaD' thal INV III
yesto,ont parcels which on the programme VII
attract a good Attendance. and, JudElAG Io1h tho
numerous Inquiries which brokers cohtIhuaH r.
ceya there is a large amount of capital alert I"r
auSthing that resembles bargain III real properly
AT uriyato sale the feature OF tho market IS tI'e
good steady demand for vacant l"t', partlcui'ry
on the west side of the citY some persons COIL COLI
plain that if unimprovCd property was not 50 nTnN
held there would be moro bulldliS Dht tle n-uieSS
show thcro is no stagnaiOn in that direction ana
fhe confidence of owners great IN the 1utIG oi
the city that no concession can be expected ~
vacant land, however earnestly 10 may be desired;
AS regards the general situation, while mere ana
thcro the market is hound 10 suier from the over
production Of flats AID tencneDts until 'hG oeiidHu
grows up to the Su. ply, tie outlook on the Wi''e
Is cnrOurag ging TO the owner though he ls resE"td
TO tie fact that all Investments are icIuInlhs
smaller rate of profit than a icM years ago.
} The market IN ncghboring cities shows iay"TaOie
features too. The Philadelphia correspondent ol
TEe rtcord and Guide writes: "IE.rc is no per
Ceptible diminuton in building activity III OF near
the city Real estate is steadily advancing, csp"-
clally in the suburbs,where large transactions haEc
lcen elected during tho past two or three weeks
with a view of building operations III the Sprhs
The leading architects are quite tuS!iy engaged on
buildings for winter and spring execution, me
demand for rtal estate is Increasing eslecalIE lor
fLe moderdtc-rTiccd houses ranging III E'lcc from
S3, 600 to $4,000. Extensive nHrr"NenchIs arc
qoipg or in the northwestern section OF the citF'
whcrr Singerlv. Shock, Sharp and other buliuers
have operations in hand for from 100 I" 500 houses
Ithl estate agents report numerous Idusat'iOI9
w,tLin and near Tie CltV limits