The Providence news. (Providence [R.I.]) 1891-1906, 1892-08-26
NEWS OF REAL ESTATE.
Six Men Have Signl6ed Their |nten-
tion of Attending the Congress.

a. L. Andrews, b. Il. Potter, Charles
Law. William II. Wood. William II. Hall
and Isaac L. Golf have signifed their in
tentions of attending tho National Real
Estate Congress, which is to be held in
Buffalo, n. Y, Oct. 4, 5 and @. There
will most probably be number of other
real estate brokers and men interested i'm
real estate who will join the party and at
tend the sessions of the Congress. Re-
duced fares to Buffalo will he offered and
other inducements will be set forth that
as large party as possible may attend
from RHODE ISLAND.
A number Of those who intend to 90 to
Buffalo are very enthusiastic over the
matter and one of them informed News
reporter that upon return from the Con-
gress active measures would be taken to-
wards establishing a PROVIDENCE Real
Estate Exchange.
More Residential Property Wanted.
There is, now that the summer season
is on the wane, growing demand for
houses and the less expensive tenenents.
The people are returning to the city, and
when they arrive then Till begin tho fall
moving. There is at present dearth Of
such accommodations as have been men
toned on the East Side. There the de-
mand is far in excess of the supply, and
WIG iCheo oAO "tSh ktSotci tnth thc
quality Of the houses aud the accommo-
dations warrant. New houses of two
tenements are letting for $3.50 u tenement,
and with five rooms on the floor and two
in the attic. This Is extortionate rent,
doubly so when the tax upon the land is
taken into consideration. Old traps,
weather-worn, out of date in every re-
spect, unpainted and with floors slantin0
in all directions, let for figures which
would astonish he people OF Boston and
New York If they were called upon to pay
the rent.
There is a great deal of unimproved
land on that side of the river, aud it is
very desirable for residential purposes;
but it is impossible to induce the owners
to build for themselves or TO let the land
TO others, the invariable excuse being that
il that was done. IL one lot out of the plat
was improved, all the other lots would at
once be increased in value. aud there
would be greater taxes to pay.
Take for instance the tract of land
which the city has just bought for park
purposes from the Tabers Of New York.
1t is situated just right for the hone of
men of moderate circumstances IL is
well situated for convenience and good
health. Some time ago tho agent Of this
property was called upon ana the idea
was broached to him of erecting pretty
cottages which could be sold on easy
terms to people OF good moral standing.
The iciest kind Of cold water was prompt
ly thrown upon the plan, and the reason
given was that IL the idea was carried out
there would be a greatly increased tax
rate for the whole tract Of land.
For this reason the property was not
improved in any way. Brushes and trees
grew wild, and the city was kept out of
the revenue which it should have received
from 1t had it been improved. And now
the city turns around and buys that
identical property at the price set by the
owners and gives a large sum for it. This
may be shrewd management on the part
OF the owners, but not on the part of the
city.-PRovIDENCE Letter in Boston
Hara1d-