New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-08
REAL ESTATE.
RtrSINESS IN THE FIELD.


A period OF ational rejoicing. added to the usual
holiday character Of business in realty at this sea-
son OF the year and not marked by any conspicu-
Gus transactions in houses and lands is In brief the
record OF the last week. With such surroundings It
is hardly necessary to say that not only In realty
but in all markets there season OF quiet.
During June the genei al developments in business
and financial circles were favorable to future busi
ness Tho activity In sham speculation In Wall
Street Exchanges after the sharp advance and
buoyancy OF the May market showed some weak
ness but so far the great underlying conditions
which ultimately control the course OF prices-such
as the state OF trade outlook for the crops the
general financial position Of the Countrywide indi-
cations were Of a promising character Especial at
tcntion was given the outlook OF tho products OF
the soil which steadily improved throughout the
month.
An important featvre OF the real estate market
tha, Is n potent factor but frequently lost sight Of
is the vast sums Of money that are let loose for re-
investment every July day and January Thosc who
have made fortunes in realty alone are always
seeking fo- similar opportunities for investment
when their sem-annual and annual rentals nave
accumulated 1t is known tina; large amounts OF
capital are Tow seeking profitable employment IN
real estate A prominent real-esiate broker by way
Of lustra tion said to Tribune reporter the other
day that one OF his clients had several thousand
doars idly waiting for unfortunate real-cstatc
speculator to be forced TO sel out at sacrhce 30
that this idle money might be placed to advantage
The course Of the real-estlte auction market mas
demonstrated that there many other bargain
hunters urged on by the fact that prices are ruling
fui,v az high at public auction at private sale
Brokers and investors" the broker referred to
added during their absence on their summer out
inrs always have some one In the city re'hy 10
| take advantage Of any sales OF property mat may
be unduly pressed on the market This uhoeriy'hs
strength OF realty has made many new converts OF
money loancrs and investors VINO In former years
were unfavorabie to this kind OF property. The
OF one OF our largest banks for many years
regarded realty investment with dlsfavor. during
the last year however. his bank. on ms recon-
mendation purchased one OF inc most expensive
sites In the city for prominent business home
Among the many improvements arranged during
the summer In the neghborhood OF West -FOUR
teenthst is that OF the Central Methodist hp'acopa
Church I'm Seyenth-aye. Last week the trustees or
this church filed plans with the I'ulidlns DeP"'.-
ment for extensive alterations or the cnuich p"ii"-
| Ing and the adjacent parsonage The Ola Drown
stone front OF the church will be torn out ana inc
building extended to the street line. A handsome
new front OF buzz brick with large entrances anu
rich ornamentaton. will replace the old FACADE.
| important improvements Will also be made In the
interior OF the edincc. Two galleries Will be DUH.
around three sides OF the church. Opera chairs VIII
replace the old fashioned pews. and these, together
with the galleries and the extension of the front OF
the church, VIII increase the seatinb Vapa0i'' "
as at present to 100. The parsonage VIII De rascu
to five stories surmounted by n tower hiec'r'c
| lchts and many modern appliances Will be included
| In the Improyerents rendering the church com
| pictcy adapted building for the aggressive evan
gelistic services conducted daily by the congrega
| ton under the leadership of the Rev s =. Cadman
| and the Rev. J. l.. Hartsock, associate ieauer'
| The cost of the improvements. about $4,000. Will
be dcfrayed chiefly by J. Milton Cornell. Anderson
Fowler Samuel W. Bovine. Bowcs Colgate and j.
| s Huyer. -
| The new armory for the 9th Regiment n. u. D.
| n. Y In Fourte .nth-st. near Sxthave. is rapidly
moving toward completion Workmen are just nm
| ishing the second story OF the building r
The demolition of the old l!rower h9use. AZ wen
ty-eishth-st and Broadway. has been begun \ ten
story office building ~ TO be erectea on ths sr ~,
| The auction sales last week aggregated %b,os-.
against NiS,2ji for the corresponding week VI iA''
| year. ,, . ,,,,, -,
| Across the Fast River the sales realized total OF
SO5 49, against y720O for the corresponding week OF
| amounted TO ST. 10000 For the corresponding week
OF last year 81 7 500 was realized Conveyahces 10
the number OF 3il OF which Ia were az a nom,ha,
figure were recorded at an expressed consideration
| OF $367554O. For the corresponding week OF ias'
year 3O7 transfers OF which ll6 were nominal; wer,
Med the amour, invested De,hs Siv Ssr IN ,rs
made during the last week W TRANSFERS. OF WHEN g
were nominal at valuation e1 !si'ts. AGAINST sn'
corresponding week q s9 so OF o. ''a' se'S u" "
pressed valuation OF $i2hD. . - - ,
| The mortgage figures show that tnerc was nearly
double much money loaned iast WEEK al 'r s
rate than per cent than was ioahcu uur'"s t"e
corresponding week OF last year.
There were last week AZ mortgages recoruea', II
yolvng S5ss62a. and OF these l@ represem,'ns ~
| 7l3, were made at a rate exceeding per csntt,, IN
tercst. while rs mortgages. representing Moo''e,'
were made at per cent interest; II, involving 81,
t5l.a0. we're secured At less rate tran per ee~'
Xaere were ned In the Building Department u