The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1894-05-18
REAL ESTATE DEPARTMENT
REAL ESTATE NEWS.

THE JERSEY Cry News is always fur
nishing owners of property and spectators
with good news. For instance. on June l
the Sinking Fund Commissioners will re-
deem $500, 900 OF 7 per cents. issued in 1874
for street improvements and the construc-
ton of sewers. When the bonds were issued
Z per cent. was considered fair. During the
twenty years that the bonds have been run
ming the city has paid to the lucky purchas-
ers of twenty years ago just S540,000, or
S240,000 more than their original invest
ment, and now at the expiration OF the
twenty years the bonds bob up and nave to
be paid, which makes in all S1,440,09o that
the city has paid out. To redeem them,
bonds to the extent of $500, 900 had to be
sold. Vermilye e. Co. were the purchasers.
The new issue bears but 5 per cent. intere st.
They are to run twenty years, but there Is
some consolation in the fact that only $780,
600 interest will be paid on them during that
period. which means to the city a saving of
$4,000 or $4,000 a year, in interest. From
this must be deducted the premium paid
Vermilye & Co. They bid $l05.27, and the
premium exceeds $4,000. Thus one years.
interest on 5000, 900 is saved, owing to the city's
splendid credit and competition for the
viii pay to Vermilye $500, coo interest. II
anyone has ever thought for a
moment that Jersey City securities
were not good, it would pay to consider these
facts An investor can double his money
every twenty years by purchasing Jersey
City 5 per cents.
The reduction of the city's interest ac-
count is progressing merrily under the skill
full management Of the Board Of Finance
and Sinking Fund Commissioners Mayor
Wanser is delighted.
Erie street property owners are very
anxious to lave the Hoboken horse cars run
either to or from Hoboken through that
street. They believe the line will greatly
enhance the value of property.
The New Jersey junction Railroad is max
ing rapid progress in arranging for the tun-
mel under the Pennsylvania Railroad en-
bankment at the Point of Rocks. The COM
pany Is doing more in the way of improve
ments than it promised. The improvements
to the streets affected win prove beneficial to
adjoining property. The company's work is
also drying out the swampy ground.
The Fire Commissioners intend paying a
visit to several frame houses now in course
of construction on Wayne street above
Brunswick street. The buildings are all in
the fire limits. The owners have evidently
lost sight Of that fact. as the buildings are
going up four and, In some cases, five stories.
Frame tenements of such a height are ex-
tremely dangerous.
Transfers.
North Jersey Land Company to Henry c. Greene,
for 81. lot q, Terrace place. Kearny.
EDWARD WalWorth 10 irving V. Doriand, Tor ST.
land and premises north side Grant avenue. 50 feet
from Clayton avenue: also land and premises north
side Grant avenue, IT3 feet from Johnston avenue.
Peter B. Kendall and William Anderson to Ernest
Uhlmann, for S2,No, lot Is, Block 4. north side of
Irving street, Fillmore Condit to William Menkle-
john, for $20l land on the east side of Highland ave
nue., 25 feet south of Alton street. Kearny.
los and io4. west side Of Monticello avenue Venue 'o'
josephine +. Chamberlin to Edward U. Jackson,
for 81, lots IA and Is. Block 4, northeast side of Mag
nolia avenue.
Mortgages.
Edward N. Jackson to Josephine F. Chamberlin.
guardian on lots IA and Is, block 4, northeast side of
Magnolia avenue for SO, 49,
hose Mcguire to the New Jersey Title Guarantee
and Trust Company on parts Of lots 2. %, 80. block
80, Van Worst map for $500,
Agnes A. Gugeane to John z, Andrews on land
and premises. southwest side of Union street. Ga feet
southeast OF Clerk street for e4J5O.