New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-09-30
RfAtN xsrATE


- - -
rajRNHoo II I'm y1H1.n
!. 80. ,e1a,a~ - ssattassa b ~ ssai sssase
s-.sss.SL = = nee&ahh - h Asgp measurs % me
-S,Sru1fv q esISses ssahse shan - ~ measpeauea
- - q ~ port e weald-be investors. Tue
- - - euta&e aGsuts. puhloAed 000 eey 70
- - ~ I5ghunA asa almost unanimous ~ sns
oGSrcnoea q der Judgment tAas the strencsa 9.
;vsisss - vAssA desirable psccsruss ~ ~ s~~s-
- = Spooerey Knows that he Aas good thing. ana
80 isvaAor Aoee not conceal the fast that No WsnU
= - hlmeeaf ana IN this condition OF Things con-
coou6oas ere rsAchsd only after great d'mc0iV N
seiojp1atjoa The person who wants to buy netussr
b 49, not want TO pay TOO maca: ous w,sa "a
laarO toi posssss tho other properly unconoS
- ewnse h the more determined not to y'sid.
~ ut week has been marked b. IN incsdsns
vhidh n locked upon - OF Increasing importance
not only % real estate owners ana purensssH' ivy
utaviss 10 the city treasury with rsfersnee
~ subSect Of taxation. The incident referred 70
- - chartsring 0f the Colonial Building Aseo-
e,aa3on, oapitassd at $4,000 under The aws OF tne
asata az Nsv-York. Samuel D. Beocock 70 pss"-
dsnE ana Il 10 undsrstood that the stocknoaoes. ~
esv The Gngis purpose Of this rsorsensau on ~ 20
nouuars the property Of the old Scotch Prssoytsnan
css.ren. N FourteentA.st, and erect new building
"a tAe sits, The property bsing already seaseo 10
aavaaes fer long term OF ysars By 4. II. Macy q
About tvsnty.avs years ago the Nsw-York Hos
pltal Association was incorporated In the s.me
manner In the sum OF 0!ooom. STOCK TOT sn.:
.,,o,rt NJ ths mar value Of $50 was issued and
divideods have been regularly paid upon that STOCK
at the rate Of about per cent year. II u ..'o
that during that period probably not more tn.n
s&oe worth Of the stock has changed hendc. tne
prousoters Of this system OF handuns reaI es's.e ~
Nev.Ycrk Argue that In the case OF large tract
Al lana repreeenting In area buildinss number
Of interests Q distribution Of shares by stock cor
tAcatas based upon the value OF each inteera part
OF the whole renders complications imposs'D' ..
Meanwhile, In case 81 the death OF an owner Ms
shares may be distributed by will to - many per
sons q he may desire to beQueathe It; or II tho
ovnGr Of large block Of stock wants to dispose OF
II dHrtnG his lifetime he do without diseuro-
ance to the general institution 1t 10 argued s,'"
from q second viewpoint that In this manner inc
assessments Of city property for purposes OF 'AA.-
t,on viIi In the progress Of time. become much
mora equitable and Just to the stockholders and the
city VIII b the gamer through the necessarily
fairer method Of valuation. and that the owner
With 4 political pull" will not b enabled TO 90
injustice 20 his neighbor by being allowed 70 pay
only q nominal tax while the man without the
pull pays his tax on what nearly spp'oe'"es ~'
honest valuation.
From the third point Of view 1t 10 argued that
BIZ the incorporation OF certain real estate ihciuo
ine within its q number OF valuable proper
tiss an interest in the real estate market Will oe
ouickened and that stocks Of these properties. a.
thsy multiply will be dealt in on the Real Estate
Exchange Just a. railway and other securities are
now operated In on the Stock Exchange This. II 10
held will enlarge their scope OF usefulness a. d
commodity and extend the interest OF AL Classes
Of the community inasmuch a. In that way the
laborer who may have saved 800 may invest
n in one share Of this stock and thus be-
come in fact q land owner In the metropolis.
There 10 no doubt. 1t II said. that real estate cor
porauons In New.York City will always pay hano-
some dividends The only danger possible 10 that
found In the practice Of watering stock' out
II n reasoned that legislation can prevent the
employment OF this scheme and thus origi-
nal issues of stock will. by the increased
value Of rentals derived from the property DC
constantly growing In intrinsic worth well
known capitalist and business man who also stanos
In the relation Of a philanthropist to this com
munity when. . few days ago. his views on TINS
subject we're asked. expressed his surprise that
the plan had not become more general. not only
because Of tho ease with which great estates COM
bined in ono general interest could be distributed.
but also because of the advantage to the city that
more more just basis Of ssSstion He in:tsneed in n.
conversation two downtown properties In the
varied snormoasy Secsuss q the favored y:T us
01 Of z: one and the fair tina. H'f pn MoS
contribute to the general and more uniform I'm.
sa:s e: @ .rs at ws s
stand between two massive structures Is ana are are
sscSSs 81 tenants from the older to the newer
TSe priv.te sales for last week. including the
PeiI.Rothschild sale and exchange Of Broadway
and have (Which !: ss the to .u 1npr Of
sSaSS. as compared u with aioSoSe for the pre-:
r; II. vs RESULT DS %.rs rs week
ne .9e = for 5 xss n.ss s s1
nj BrooEiyn the suction sales for las. week real
&. g: % IF g I II r.:
conveyance exclusive Of the Twenty third and
!; H.: Is s t n xScs ss1s
nominal were died. the amount involved being
conveyanees in the Twenty third and Twenty
fourth wards emitting the new Annexed District
Get Of 1873 to the number Of g. Of Esh tbs Is :1
Of Sloosso against s7 for the same period Of last
os.ss :Aox sst there sa r. s,. re-
csedinS per cent interest and iOs involving s4s5.-
16 we're made at per cent interest. and g. involv-
Ing N.ui0 we're secured AZ less rate tnan
IF h s:e' .ss d in til. Building
EisM.S vSS: Tor Is: eo:s..esndias wee. Fl "a!
year thsrs g. we're recorded y plans At an estimated
eG sf. g. south.ck Co. h.v. sold for Mayer
.aa S Corr &c c ana IL NJ 81 broSd
way, east side between Twelfth and Thirteenth sts.
: ssSs: W. e E.: az: : Els s'ssrss ss
z. D. Uvingston:
s!s: sTss h; :ss g Hs:'s .-:ta s's
s ssr n sS q which
s.essa ;:sor, dwelling ~ sHies to Peter
s:1 .ss ;a: e 3:
ss1 Peesd M.sS.S IS: Structure eS Win Se :shs.:
ss :nd aSsDSsf YIN =
sncas sno smd power plsCt IN sosted