New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-08-26

BUSINESS IN THE FIELD.

No activity IN the real estate market in the
last week. which can be construed as Indicative
a. the underlying spirit which Is expected 10
assert itself upon the actual opening of the fall
season Of trade and speculation.
The Tribune. during the last two weeks. has de-
voted much space 10 the presentation OF the views
q, prominent real estate agents and operators with
respect 10 the business outlook In that branch OF
trade Digent inquiry among representative men
has ELECTED average opinion that real estate In
his city during the coming autumn and winter
months VII prove popular field for investments.
All those who permit the OF their names
confident that not only real estate will hold its
a. 8, has unquestonaby done throughout the
months directly connected with the panic period.
h,t that nothing offers many inducements and
guarantees or perinanency OF Vaiues as realty on
Manhattan Island.
There is an element in the trade. however cine
representatives OF this class especially urgent
.ha their names shall be g;ven). who insist that
q Is altogether injurious to the real estate interest
=, present the truth by reporting the views Of in
,e,ieen; and experienced agents and operators
when they say tina; the outlook for real estate is so
a,cou-ae.ng The only excuse advanced is that such
exnressions Of opinion calculated TO create
..hoorn in real End thereby prompt the own
ers os property desiring to sell to raise prices and
thereby prevent transactions. The purpose of the
interviews which nave appeared daily In The Tri-
hpne was 10 enlighten the public to the exact
condition OF the market according to the judgment
~ those most capable. from experience and close OBJ
ss~vatlon 10 offer such judgments.
The fact that the market is unusually
,ealthv condition established by the willingness of
chose holding this view 10 lend their names to the
oxnression Of their opinions. There are always real
estate agents who have orders to buy at the lowest
noss,ble figures. Some of these, more timd than
others and possibly more avarcious. would doubt
less enjoy reading statements tending to deprecate
veal estate values, to the end that they might fill
.,afr c1saD 1nvypr 10 NJ
7, ,s only fair to say. however. that. in careful
canvass Of the city. the bear real estate is not
conspicuous.
Nobody expects real estate to make bound up
ward al a season Of the year when nearly all the
best brokers and auctioneers and most substantial
investors ale indulgng in their vacation pleasures.
In the Judgment of good men who now are at home,
many OF whom have been quoted in the columns OF
The Tribune. there is not much danger OF imitation
Of prices in New-York real estate, and these men
have the courage to come out squarely and say
what they honestly think. 1t is regarded as an
absolutely settled fact that in the very nature or
things property in the lower portion Of the city
cannot recede dollar from present values, ana
that the tendency must be upward. 1t Is equally
true in the judgment of this same class or dealers,
that with the maintenance of and gradual increase
in values below. there must be positive advance
IN prices of property above lines extending east
and west annually drawn by the encroachments Oh
trade and the pushing further northward OF resi-
DENTAL localities. Ground in the Twenty-third ana
Twenty-fourth wards and in the upper Twelfth
Ward cannot fail, in the judgment of experts, 10
Increase steadily in value in consequence OF I'm, the
conditions which exist in Manhattan Island They
say that If boom is pending II Is certainly not
al artificial. but rather natural boom. by Tea-
son OF the crcums taDces which are in contro I'M
Movements to the northward, beyond One-hundred-
and y-ifhst, are as inevitable as nose Whl[h
within the last ten years have more man Ght,
ruped the value of property north OF Fifty -nnthst'
or north Of Onehundr Is e.
which only twenty years ago was sne tA IN ILL.,
and ives; thoroughfare and promenade OF the ,''ls
village Of Harlem mere snpprS 1a part OF the
CITY as the district lying between Fourteenth,sI ana
Forty-second-st and Fifthave and the Hudson
Tae real estate market during the last week has
however have been near.y three times as iaIge as
during the correspondng weeK OF nroner,v dsposed
Of has been sold by orders from TIE courts; Iha'
exception being in Astor household IN Avenue A.
The auction sales aggregated in value for last
M ,yg Week S Of last year the amount was only s53
Across the East River the auction sales Of last t
Tsek s SSaTea d Week as of 'HAs' WI"
The sales at private contrast last week reneei
with the previous two weeks Of this year They
coirssponding period last For last week
amount realized at priyate contract aggIesatea
week Of this year. But the private sales for the
correspOnding week OF 1894 aggregated only the
The total conveyances OF last week recorded 1856 Of
y wasSm 40 NV ST. While for the CORRESPONDING
week OF last year the transfers numbered 49, OF
which 81 nominal, the others representing an
fers last week over the corresponding week or lssi
is accounted for in part by the recent transfer OF
the old Demonico property at Broad ana New SIS,
purchased some few weeks ago.
s. gs46Oo against the showing OF the corresponding
week OF asst year which was li5 loans. represent
INK N03. lac. Two-thirds OF this money was Sc
cured at 3 per cent, or at less rate than per
cent. -, ~.
third and Twenty fourth wards numbered thirty
one transfers of which fourteen nominal, the
others showing total investment OF $loo0 against
81 SIS for the period OF 1894 There were filed
in the Building Department last week twenty seven
plans for new buildings, 10 cost $1,000 against
forty-four new buildings, 10 cost NolLSi In the
same week OF last year.
r. Zittel has sold for II. Ives Smith the new four
and half story basement house. No 90 West
Eighty-seVenth-st, 11x6oxl0O, for about $30.ONO.
l. ". Stevens has sold for L. & 5. Wornser 70
James McWalters for improvement three lots. 15x
90 the north side OF Ninty -nnth-st. 100 feet
east of Co.umbus-ave: also for Anna NJ. Dunlap,
NJ Ia West Ninety thrt-st. a three-sory dwelling
}. v HALEY & Son have sold for A. II. NJ. Sat
tonstal the fve-story building 20x40 No. ITO Water
ST. near Wall. to a Mr.. Kings@nd
Grtwil.ig Brothers have sold for Improvement
20 John Kehoe builder. the plot, 75.sx1ol7 with old
buildings Nos 2eo to No: 26S West-st. southeast
corner Of Vesey-st The buyer VII, erect store
house the lots .
Clark No. IS East Fifty-third-st four-stOry
brownstone front dwelling on lot loSxG9xsj feet for
about $4,000.
Oeters & Kempe report the sale for A. Cameron Of
No. 10 West Ninety seventhst.. four houses. FOR
about 800 0pO and for A Mr.. Benedict. No. 81 East
Nlnety-thrd-st. five-story dwelling, for about
5000