The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1889-03-17
KEELING'S REPORT.
ADDITIONAL EXTRACTS FOR CON
SHERATON FROM THE PUBLIC.
Fatherly Advice for the Real Estate
Men and Citizens Generally-The
Promise Concerning Manufactures
and Industries Being Daily FULFILLED.

third ins,allment from the annual state
ment OF Secretary L. A. Keeling to the
Merchants Exchange:
RIAL ESTATE.
There Is the same defect in the manage
ment Of real estate matters in Memphis rs
in many OF our cities-a lack OF organiza-
ton and concentrated effort on the part of
those interested in and directing the real
estate matters OF the city. While other
cities with n little Of the advantages OF
Memphis are flooding the country with
circulars and advertisements, Memphis Is
modestly resting ON its laurels and lazily
trusting 10 chance for coming TO the knowl-
edge OF investors and buyers. Memphis
would be greatly benefited by the forma-
ton OF some organization or means of ef-
iectiye work on the part OF those directly
interested in the real estate affairs in this
city.
Herewith IL presented the report of the
Exchange Committee on Real Estate and
the accompanying tabular statement, which
shows the condition Of that portion OF the
business OF the city:
To the President and Directors Of the Memphis
Merchants Exchange:
Condemnation committee, TO whom
was referred the matter OF Memphis
realty, beg leave to report: That they have
given the same their most earnest con-
sidcratiOn; and, while the real estate mar
ket. 80 TO speak. has not shown the ac-
tivity that marked the year 1887, realty
was Of better value, aud transactions were
OF larger magnitude than in former years;
also showing that they were made upon
substantial Improvement rather than n
speculation basis, thus proving a return
Of confidence for the past few years want
ing In Memphis property and her inter
| csts.
We have prepared the Enclosed tabu.
lated statement Of convcyanccs recorded
In the year 1885, just passed, and the
actual consideration value Of transfers for
each month in which II is fully shown:
/. Sales within the corporate limits for
the year 1883 have been -, 226. iS0.33.
2. Sales within the Fifth Civil District,
s2i5, i0LSS
3. Sales within the Fourteenth Civil Dis.
trict, $50, 3il.SS.
The last two OF these items, whilst not
Incorporated with the city of Memphis
proper. are really suburban TO her, and en-
titled to representation In this report, and
all together. showing transfers in Mem
phis aud her vicinity or suburbs OF the
value Of S3,020, 5000.
These figures do not include numbers Of
c0nvcyanccs Of record In which considcra.
tons arc not given, these being merely
nominal transfers Of interest, nor does II
include numerous matters Of exchange.
The sales In 1887 were OF larger tracts in
the suburbs than In 1883, but the sales OF
city property In 1888 largely exceed the
sales OF 1887. The fact Is also noticeable
that our city is rapidly growing in favor,
aud our reeliy u In demand for actual
business aud residence purposes.
As for investment, and showing also the
very marked increasing OF our population,
property pays iullyG 10 10 per cent, with
ready tenants and very little unoccupicd
property. In fact, Il Is difficult to find d
vacant house, either for store or dwelling
purposes, and large bonuses arc frequently
paid for lcasc.hold interests. Small dwell
ings are greatly In demand, though there
has been thousands built here In the past
year Where eligibly located they pay
from 10 90 10 per cent ON Investment
We note thorc has been very marked
improvement IN the character OF tenants
Tor small houses, aud rents arc easily col.
lcctcd, which goes TO show that tho occu'
pants are doing well.
In short, We arc confident no city In the
! Union eau show better returns or brighter
outlook for It's real estate than the city o.
! Memphis.
Tho table prepared and submitted b,
J the committee, aud given In MIR Keeling
import. appeared In TITS ArrEAL u day o
two since. An error OF ono figure, whicl
J also appears In Mr.. kcclinga rcporl
makes the statement too iar-rclching, car
ryng Il mp 10 December 81, 1889. |
should be 1851
MANUFACTURES AND INDUSTRIES
The promise Of q year ago that tho grca
, activity AMI permanent advance In manu-
4 iaCturc aud industries In our city would b
i more than maintained IN the year Just pas
\ was most fully kept, and the indication
o for 1883 are moro than cqunlcd by thos
. | With which 1852 opens. On every hand
\ aud from nll quarters whore our trad
4 reaches aud from which our manufacturer
4 and dealers draw their orders, there Il
y QUOT but steady growth which cannot bu
i bo permanent Tho steady current q
4 trade that Tor ~ many years lowed towar,
Il the North is now slackcning, aud the ebl
|. tide IA beginning to be felt, and buyers ar
ID coming 10 realize the folly and uselo.sncs
n OF paying tribute 10 far OF sections Of on
!, common country for articles which We cal
produce a. well "a they. Our people m
beginning 10 inquire why We should pa
freight on our splendid raw material Mort
ani West and freight on the manufacture
70 article when returned TO us iur purrhas,
Then, too, our Northern brethren VIII
" hayu money 10 invest are seeking TO com
b. nearer to the raw material aud tie market
aud asking why they should not have
70 share in the saving Of this double freight
Tho iron trade h said 10 be- tho ICON
20 mcrial barometer Of the country, aud a
interests and properties with iron ior
N basis, and all iron aud coal stocks arr hrr
and upionding, aud have been 10 durin
y, the year past The manufacturing inter
4 csls Of Memphis are keeping pace with he
." other enterprises; In fact, many OF thef
n have lcapod far In advance Of their fellow
In business The growth Of the South /
IA manufactures has not left Memphis benin
In any branch; In truth, In many Of thor
Memphis leads Fortunately, and byres
=, son OF the consoryaliycnoss and soun
ii good business sense Of her citizens. Mem
"a. phis has had no paralyzlng aud oxhaustln
~ boom, but for ten yoan past has sicat
NY and with oven pace advanced In hc
material interests Memphis has neyc
MI cravcd boom" and consequently hr