New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-01-13
IyBERTY-ST. OR NO. III BRO1DWAfT

THE FATE OF THE REAL ESTATE EXCHANGE
BILL WILL SHOW WHETHER CRokERs IN
FIrENcE is STILL POTENT.
.,,.rv Ian II fspeciaD-Rchard Croker is usual
~ not given oquacity and TO the uterance OF ide
s,stements When therefore, he said last week
that the bill sending judicial sales or real estate
back to the Real Estate Exchange. No. b. Liberty
at New-York. not going to pass. ne gave
warn,ng that should be needed by friends OF the
measure. 1t is clear that. in spite OF the ire
mendous flood In which Tammany Hail ana the
Democratic party of the State were engnteu ias'
snyovcmber Mr. Croker thinks he has as mnch IN
pflusucs" with the present Legislature As lie hau
with tho last A mere statement OF Inc iac's con
cer,,,ns the bill would seem to make certain ts
.,..~.ge IN q Republican Legislature, but the same
,naasuke was quietly smothered year ago athough
the Democrats were not in ostensiole contro''
william Ieary brought up the bill a few days ago.
and 1t was introduced In the Assembly ny ~
p.ysv Of the XIth District 1t is the same Dill
which James r. Sheffield presented al 'he IDS.
.ass,on At a recent meeting OF the ChainDer OF
commerce j. Harsen Rhoades, president Oh '"e
Greenwich Savings Bank. asked the ihuoise "
tho hill and this will doubtless be given aiter ''e
<,ou,mi,tes on Municipal Reform has made It's re-
-, rho sentiment OF the business interests CON
.a a. overwhelmingly in favor OF the restoration
-. a. Iiher,v-st exchange OF its former preroga-
tive , .s,a,e were held
IYn,u 1885, judicial sales or real esta'e were nv"
,r the Trinity Building. No Ill Broad"ay' ou. 'ne
,,gh, ventilation and sanitary arrahse"en'' vi w
room were so wretched as 10 lead 10 'He io'
~ ,he exchange This spent 10000 on building IN
Tshertv-st TO the commodious exchange room oi
which these legal sales were TRANSFERRED 'p' :"
retition signed by practically all the real estate
Arms leading lawyers and business men in'eres'eu
IN real estate the sales under orders OF the ou-
meme SUPERIOR and Common Pleas courts were
cent 10 the new building. Everything was going on
smoothly until April S 1892. seven or eish'
seeding auct!oneers filed petition to the three
courts for an order that the judicial business go
back No Ill Broadway
The reasons against this change we're submitted
70 the Judges by the Real Estate Exchange. 1t was
pointed out that the Broadway exchange was a
private establishment. giving none OF the safe
guards Of the incorporated exchange. Hundreds OF
names signed to this paper. including those OF
LAWYERS and representatives Of trust companies.
eayinss banks and the Aston. Goelet Rhnelander
and other estates. The document had the weight
Of 81 900 0Oooo0 behind It: but the other side was
Richard croker. Even the request for public
hearing denied, and most OF the judges
promptly signed the order. Chief Judges sedgwick,
OF the Superior Court and DAILY OF the Court OF
Common Pleas, refused 10 do so. The sales were
transferred and the public then learned that Rich
ard Croker become a partner of Peter f. Meyer.
who carried on the Broadway exchange
OF course this simply an outrageous scheme
for private profit, made possible by TamTnahy
clutch or every branch OF the city government
Little business Is done in tie Tammany aucuoh-
room save that obtained through the courts Apou'
twenty men are interested in the saesroom AZ NO.
iii broadway while $50 are stockholders In OF
members OF the Real Estate Exchange. IN 1879
the business at the Lberty,si p. asfh .x
elusive OF sales under order OF the court reacnen
the insignificant total of Ns'2'o'o lh's "'""eS u