The Indianapolis journal., 1893-05-23

REAL ESTATE OF THE CITY
Hubbard Brothers Will Lay out Park
on the Banks of White River.
Market Remains Active with a Steady De-
mand for Small Properties-Various Notes
Picked Up Among the Dealers.

Thirty-three acres of ground. bounded
tween Michigan and Ohio streets. has been
purchased by w. j. and w. w. Hubbard,
OF the lockwood heirs. for $4,000 The
Hubbard brothers are also interested in
Morton Place and have bought this prop
erty intending TO build q levee one quarter
OF Q mile in length to protect it from high
waters. and propose to make q park of the
same containing two hundred large resi-
dence lots. In the lower parts of the sec
tion excavations will be made and the soil
thus removed will 60 toward building
other lots up higher. Aside from this
large deposit of earth will be made on all the
portions that lie higher up Drives w ill be
made through the grounds and although
there are already q number of trees grow
ing on the property great many more will
be planted for the beautifyin ing of the place.
In time it Is proposed to make this one of
the most desirable additions to the city.
which has for years been unproductive to
it's owners
Hon. Will Cumback. who made quite q
little sum out of the Anderson boom. has
this week bought six vacant residence lots
in the southeastern part of the city. pay
Ing 1000 tor the same. 1t is stated that
the purchase Is purely o speculative one
and that in such matters MIR. Cumback
wears long head.
There is q general kick" among the real
estate men of the city against the Board Of
Public Works for their refusing to permit
the Citizens company to tear up the
asphalt on certain streets that they might
extend electric lines.
A number of people are aking up back
payments and paying off mortgages held
over their homes.
Work is progressing on the State ditch.
The improvement which have been work
ing on North Alabama street between
Tenth and Fourteenth streets, is done.
Lawns have been placed in the center and
sides Uf the street, which at this place IS
more beautiful than any other street In the
city. The work of laying concrete on
North New Jersey street is finished and the
parks or lawns will be put down next.
Twenty houses will be built this summer
In Morton Place.
There has occurred some dissatisfaction
among the citizens of broadway. on ac-
count of their curbs being taken out by
the men who are tearing up and improving
that street. This curb was put down new
not q great while ago and Is now being re.
placed by another for which the property
owners will, of course, have to pay.
Mr.. c. +. Reynolds, the genial real-estate
man at No. 10 Circle street. is back at his OF
flee after long. serious illness, but looks
like a man who had never been sick. Mr..
Reynolds has just plated the old starch
works grounds five squares east of the court
house. and has sold eleven lots at 500 each
In less than a week of time.
There is little inquiry" said he. ''fOr
higher grade residence property. but for
!: cheap lots inside OF in the suburbs there is
; growing demand. People seem to realize
that ground is safe in tins city and that
money is safe if invested in it. The mar
ket is not brisk, but it is healthy. i be-
, lieve in our real estate without fictitious
values We have the population back of
US and the business stability of the city is
sound. There is great deal of work being
done on the street" which should merit no
! honest mans approval. This thing of
! throwing together cheap houses. all built
. of cheap material. with no business integ-
rity and sold on payments. should not be
! tolerated. Oftsn some person who has
|: been defrauded by buying such property
comes into the office Offering To take little
! or nothing for their homes if the mortgage
|: will be assumed. Such dealers should be
/. stam ped out of the trade"
Dwiggins's Nerve.