New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-04-07
PART ii.
PAGES IS TO q.
OPPORTUNITIES IN REALTY
o,,vG MEN MAKING FORTUNATE IN
vEsTMENTs AND sPECULATIONs.
>,rss IN TIE REAL ESTATE MARKET LAST
,.rrtl SHOWS IMPROVEMENT-PLANS FOR


THE REAL ESTATE EXCHANGE
fortunate investments which are made in
ivo-k real estate are objact-leSions Tor the
W. who have lost 50 much money IN the de-
PNP securities Of railroad companies which
p'' been managed 10 death by the railroad wreck
20 ~ the present day. The Mcky returns from
err 49,. mo desirable real estate in this city
i"' ,Da-erced in The last two years large num-
h ~ Young men 70 90 into the real estate busi-
"" IN preference T. Wall street and otaer hhes
ak and their decisions have resulted greatly
,or benefit as VIII be seen by the neat com
U Us they have made on sales and the splendid
ha.. on property they bought with their little
P,,, ot the beginning OF their real estate career
r, have been many Instances in the last TWO
~, NJ Young men with moderate means ana good
80 of values who have begun real estate pusi-
- bv investing as q speculation Their savings or
,ho-,,arca into realty and selling out In SIX months
veor at a handsome profit. The old ana eN-
o.a,csd men in the real estate business do not
70 monopoly of it. There Is no such thing as
.oo,,y in the real estate business. ana no dealer
- coni,al and experience behind him can force
W.. young asprant for hcnors and wealth in the
,oI estate fed 10 the wal.
Tb increase in thc value Of property as inStaAced
=, the difference between the buying and selling
rica has been most pronounced in the last SIX
ron,hs. AMI tAc daily reports Of sales o. city prop
orfVa
os.-el in the real estate business For instance.
~. week a young firm sold a valuable piece Of
Snu,n,ovn property for $.9j00oo, which was an adj
rance of $4,000 the purchasing price less than
ely months aso. such profit seems unwarranted al
s,s, glance but when the location Of the property
"a taken into consideration il is not s. surprising.
:, was Nassau-st. cornrr. and these corners are
scarce The list % sales last week through brokers
ofsces was fairy large and. although many of the
transactions were trades. the aggregate amount OF
money involved was over 100000. The buyers last
week wera more Of the investing kind and pro-
fessonal traders cut 4 small figure in the market
The auction sales of property developed more in
tere than in several weeks and II the foreclosure
sales had contained property Of better quality the
weeks business would have amounted to a respect
able figure The building movement continued last
week on . large scale and maintained lis record Of
the last few We X. The number Of pans i.ei for
new buildings amounted 20 10} involving all agg!e-
gate amount Of moley Of N9i7le). This shows an
increase of forty-sevtn in the number OF pans lille!
and an increase of Sl.So55o0 in the money involved
over the corresponding week last year The auction
sales amounted in value to ssS4l76. against $i9SsO
IN the week a year ago.
To HELP THE EXCHANGE.
The plans for the revyihca;!on Of the Real Estate
Exchange. as prepared by a committee OF fifteen.
have not as Yet been adopted. the committee Of
five appointed to examine the plans have decided
that OF the proposed plans are impracticable
and the adoption OF others ineXpedent az the pres
ent time, but the committee has recommended that
new section be added to the bylaws Which Will, 4;
is believed meet the wants OF the Exchange for the
present. the principal features OF this section are
as follows:
Proper space In the Exchange shall be SC; apart
for brokers meetings. ana shah be known rs the
brokers room Admission to slcn room siai C ,,
be for suca members o. The EXchanse as man LaH
annual fee OF s. ID the treasurer Snch fees shdI
be due an payabie beioTe jInuary L. N e@cn Se H.
the use Of said room from January 10 December y
OF the year for wacn the fee may have been paid
subject however. to sucA rules and reSula Ions a5
may be est zblished for the gOVernance OF sdlH
room MheA ,pa.. o. t,e ~ "a 11s - ~ an
expired term, reckoneI by months. Inc members OF
appointment Annually from their number me n1mts
Of the five members or appointment on ;ne commit
L. on brokers meetings The committee SA9n nave r,
general charge Of the trokers room, am 10Y any
nfrac;ion Of the rules shall, by majority vote OF
the full committee, have authority 70 suspcha mem
bers from the right - use such TOT! .DI ,i.,G
not exceeding fifteen days IN cases ~ grave D:each
o. discipline c3'Ap.%int sad De mao % N 1iT
paint Committee. Your COMMITTEE ha' sl!.n - -
s!derat0n 10 the question Of cumulative FttNe' i.le
adjustment Of which the committee D., Ill
strongly urged. II tniS agree with the Commute
OF fifteen. But the matter Of cumulative voting j.
mandatory under the law under which ms TX.
The only way 10 abolish the cumulative voting would
be TO rencOrporae the Exchange under the business
act OF 1892. Iour committee asah az. W." ~.
opinion expressed By the committee OF hf;een that
the Bureau Of Information may be cnIarSei 80
that more aid may he given - the HenbcFs oi 'If
Exchange than simply The record oi ownership "i
property II appears that certain corporations are
prepared TO take charge OF the Bureau Of ln;orna-
Ion on favorable terms 10 the Exchange. agreeing
10 give 70 members 0f the Exchange dctalls IegarI-
ing property. such as ownership moi; gaze It.tc
tons taxes and assessments. ana II deemed adVlsa-
be some such arrangements might be made. ne
rules ami regulations OF the TX ihahse rICEte Iii Iii
be on sale az the office Of the ENchaiiSc. ,.. ,
The committee recommend tndt d commit oii
three be appointed Dy the president 10 prepare ana
present 10 the board for It's consideration ioiiis od
approved by the counsel Of the Exchange and that
lch forms De copyr.ga;ei all Of which Is respect
lilly submitted
The arrangements for putting the foregoing pan
n force It IS expected will be completed BY May !;
the committee Of five has been continued in office
10 superintend them a meeting of outside brokers
will probably be held in the coming week TO con-
s.der the report and express opinions thereon
BUSINESS IN TIE WEEK
Tho nr,rc,ca, nrIvate transactions last week were
he following:
Charles l. Schuyler sold for the New-York Realty
Company (F.ake & Dowiing), Gods Inith O. fIau.
md Henry Morgenthau so > TO 50 .EaI-tu,s, , ~
me southwest corner OF and No "a 10 - liberty-St
With ola nve-story buildings. to a syndicate composer
u Hugh Lamb William II. Arnott Il co.. JohH D.
Brown and william Bryan, for $l.Z,lVVl Inc proI-
bowling az d price which Is now uh1eIs,0Ou - nav
been 5000 Before taxing title On March !. d
hall nierost was sod 10 Goldsmith q P.au,. Henry
Morgeniha also occurred an interest. 49,.
Randolph Guggenhemer and Salomon Marx ha oye
sold the -s!x-siory brick stores No. 2os ana ~
Wooster-st. l75 feet north # B.eecker-st, 10 D.
Hooker Uauersley The sellers acquired the prop
er,y about eleven months ago. accepting IL a. a.
valuation OF 1880 In a trdqe LOT uIiiidl'seN ~,
on West Ninety-sixth-st. l.. j. philips d CO. neso-
lated the latest sale. - ,..s 81, ,,o
Jacob Hrsh and Gutwlllig Brothers have sold tne
'olr-s,ory stone front dwelling ~ lV5 fn,h-a. .
Fast side between Seventeenth and Eighteenth St5'
% josiah s Lindsay for immediate improvement;
The sellers bought the property In December from
Mrs. Pierrepont at figure c:ose to $Wggo5 ~, old
Ferdinand H. Mcla has sold 10 u buIdef me on
lye-story store 40 co. Broadway, AT about $iioW1
which Is an advance on the price PAD by MN !"
January. . 90 -. 18th
The brokerage firm Of Bennett & Gran naTs 500 90
or John A. Hutchinson 10 Mrs. L. Hecht ~. -
Vest Seventietn-st a three-story orownstohe o"e'-
ng for about $3.50. 49,, :. ,rs
ade Taller the three-story American osseneit'
wei!ing 80. 239 West OBSERVATION-DISCLOSURES "''
L, for $500 at. w
Florence y. Ryan has solo 10 Augusta won 9oa IN
a West Forty-seventh s., Il thiee-stofy Di'""
lone dwelling, for $4,000. , ,.,, ,ba
G. X. GregOr e Son have cold tor /. dan hsS ~
hree th.ee-stOry private houses Nos 49, az ana
"a West Th!rty-fOurth-st together IN SIZE o''Hrpo
eet, 10 Warren s williams on private teTHS' -. ~