New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-02-01
BROADWAY OR LIBERTY-S1.'
WARM WORDS AT THE HEARING ON The
REAL ESTATE EXCHANGE BILL.
EN- GoVERNoR HOADLY INTIMATEs TINT III"
NEWSPAPERS HAVE BEEN HElhhp ~
FAVOR THE fNNN' "'


my rr1ESRAPH TO THE THIBrNEI
,uor,. Ia, u ,sqAmblyman Frank u. Pavey
bill for the transfer Of judicial sales OF real eS.
to the Real Estate Exchange in iiperN-S'. W."
favoraby reported by the COMMITTEE O" WI"
the Assembly tomorrow There are ho"e'''' ,,,
rumors that this extremely mcritorious nn'HSu'
meet tho fate which it met at the hands OF '''' -"
publican Legislature OF 1894. one Repup"'""
against II in the committee to-day. He IS u"u'.
stood to he William Hapin. Of FREDERICK y "'''
district the XIIIth At the same time al
effort Will be made to secure It's passage III ~
semby and the feeling tonight seems 10 Nv '
VII! be sent to the Senate. ,.,
The Senate Committee on cnies han ~
on tho hill today and the tension IN the room wa
AT times extreme. Ex-Assemhyman Jd"'S H. ~
field who introduced the bill 'as' Ee"'' -,
argument In behalf OF II. ana 49, -.
James f.. Wells and Ex-Governor ho"'"s r.
AGAINST it. Ex-Governor Hoadly, VINO mus 'ei''
scented the interests of Richard croker i inc '
mariner of Edward Lauterbach. the new CHAIRMAN
of the Republican County Committee me ayr d..
ance OF Mr. Wells. Republican, III oe"a'' ~
Broadway basement salesroom, was meant ~ 49,
Assembymen who do not live in N""-ho'N ~ "
ueye that Richard Croker is not really the "o',"S
s,ir,, +, tho broadway Exchange. In the executive
session Of tho committee there was strong "S"'
for delay Mr. Foley. the Democratic leaief' "o'''
10 lay the bill on the table, but Only o"'
a Republican, voted with him. There were SIX Vo'ss
in the negative on the motion TO report '"' "'
favoraby Mr.. Foley voted alone.
Mr. Sheffield opened the argument with " S'''''
review Of the history OF real-estate aucoo" S"'
in New-York city before the founding OF the h'''
Estate Exchange All sales. judicial ana o'n''
wise he said. held in the basement OF no ia
broadway before 1885. The salesroom was "o'"'
,co foe, long ~ forty feet wide. and trihe over
twelve feet In height. As the accommodation
were not all that could be wished the real estate
men in lsS5 formed the Real Esta,c Exchange
corporation which erected a building IN Liberty
St At a cost OF $4,000 Its advantages over ~
III broadway were marked that there Wa 'o
imposition to the transfer or the Iu'''"' sou
there 4 payment OF $500 was made 10 inc ~"
exchange and one OF $3.50 10 Peter +. Meyer ''S
manager In 1892 a few auctioneers became as
so,lsned with the Real Estate ENcnangt anu
opened a new one in Pne-st This was not S"'
cess and the basement Of No. III Hfo'n"AS wa
leased At the same time the judges oil '"' Guy
were askec 10 transfer the juiciAI SAFES ~ '''"'
Mace They did this so readily that they asa n''
even grant the hearing on the subject WHO" va,
asked FOR by nearly every prominent IA"S'' "''
real estate man in the city. william Su|'T "'T
or, of the signers OF this petition. Mr. sh'rh''l
d,d not criticse the Judges. but merely coht'h'''
he, the part Of the public which was dirrc'y con-
cerned was dissatisfied with the action 'h''i
Justice DaIy OF the Court of common I'''-'
| cbiof Ius,ic. s.ieWlck 81 tn superior Court am
.msticc Bischon refused 20 srn IN" or4"t. in's
considered u AN ouirag" % max fN'n
wlfnout hearing Ia" yie"s Of thosr "h".r
- - Injected Justice Barr'it OF 10" -.
prem. court. had advised tn Real Esi4t" ~
change that its only course was To appear 'o '"'
The sueakcr then referred to o.. superior safe
guards given by corporation o"uihS gar,
building and hay ng a. m,nn't owe, ynr
torssied The ncwspap'fs had pi"noHn,'i 'N'
broadway salesroom merely private bu'in's-
venture Of Richard croker.
An argument Tor the other s!f" was made ht
James - wells. who explained ihtt u" NhN on. :"
the auctionecrs WIZ had left d." N'a! isthtr ~
Uuud.ng The judicial salr-. h. said. PAD only ;
each. and as there were 10 OF th'in iast }'Hi
only s. 20 involved The real oUJsst OK W..
BIN was 20 keep the voluntary sales WI. VIZ
far more profitable at the ~ haugr 30 l@heriy-s
Mr Wells grow excited and falry shouted. !
don't care about judicial sni"s ~, Ny. .y INN ~
,xchauge7 That is "a stor, % frghi'r htil" boy
With / am not a croker man. A. an Alderman
| defcd him when hc Wa sr'his ,"i'. '',, ,,
his ARRANGEMENTS with MI Meyer liz ha- nothing
10 10 with the Auctonecrs Associai'n non -
toiutcl to a number OF New-h ork real e-iht" mon
v,bn ver. present and cxcla Il see oulf "'"
a,ctloneer here Nj. Richard '. Harnrtt mere n
on. builder who has raised NOR" d"vItrN IMAM am
onc elsp and h.. H. n mortgage broker. 10 YOU ir
FER 10 me-" asked one man si,pilns io'"aIl
Ncver mind air." yelled M. Wells The -h'"
snn.ars 10 pinch II. continued his Abur- of th~
r,sl estate men Mr. Sheffield replied I" III" Fthi
ones bv showing that the privai" business Al '..
I.iberty-st. EKchang" was many times as bi''t
intmaied that the ewspapefs had Den hiiD'u I'D
favor the bnl He evidently believed thht th'y
placed A ridiculOusly low valuation on th"nSclt'-.
because ne said the consideration Tor "nlrh U'S
sold themselves the employ ment OF Inc htrilN
OF The Two press associations by the fe"i f'9''''
Exchange. -, ,,...t.., d,
other bills and aftcrward went into executive
session