New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-08-05
REAL ESTATE.
BUSINESS IN THE FIELD.

There is a disposition in some unimportant quar-
Ter, lust now TO bear city real estate IN the ap
sence OF anything else to bear win Tue p'i0e'
NJ stocks and other securities dealt IN on the o'o
Exchange constantly rising. the man VINO d'i no.
"catch on at the proper time has a grievance ana
he exhausts his spite upon the realty market Inc
fact il that throughout the last two years real es-
tate has held its own to surprising degree anu
while some have been predicting week py "een
the advent OF slump the wise investor mas oee'
gathering in all the good things upon "h'ch lie
could Law his hands and still the slump has not
come.
Tho turning OF the tide. which set In re"
months ago after the creation OF the goid pohu
syndicate has been supplemented by what an
New-Yorkers will agree In designating an cN0eP
tionaly comfortable summer In the metropolis
There are more substantial business men 10 De
found daily at their desks with the close OF July
ard the beginning OF August this year than nave
been seen fo- many summers In the past Inc
restaurants both downtown and uptown. have been
unusually well patronized. and their proprielo's
are almost unanimous In their declarations tha'
the results OF their trade have exceeded all ex-
pectations.
Indeed in the case OF two or three OF the iean-
ing clubs the restaurant returns exceed those OF
the winter period. This is accounted for by 'he
fact that while the families Of the rich ana wei"
to-do men are absent at summer resorts, the heau
OF the family is at his post of duty, and meanwhile
for securing his meals. 1t is not always because
he is too cramped financially TO take his usuai va
cation but is rather due TO the fact that pus'heSS
is here and commands his attention for the dis-
posa OF It, 1t has always been customary among
real-estate operators more or less to enjoy noun
tain or ocean breezes. and incidentally TO PICK UP
little trade on hotel porches and verandas. Many
are there now in pursuit OF pleasure and pront IN
the enjoyment OF the society or investors VINO III
sist upon taking their summer outing. All TINS
goes to show that business activity ana the spi,nle
OF enterprise in a normal condition during me
summer season. With tolerably fair weather IN
New-York and unusual chilliness at summer re-
sorts the business man prefers the atmosphere OF
trade. ,,,ory
Importance In the transfer OF real estate, either ~
auction or at Pya.e sale dTf h n ne wa never
stronger. and what Is especially gratyn1s 10 b .ne
their hands find plenty TO do in carrying forward
the great works of Improvement now in progress.
OF the so-called "sky-scraper' building is seen
and heard. But the SKY -scrapers" continue, TO TO
telnts scramble at the doors of renting agents IN
their endeayors to secure desirable aceomm rngre
tons. But the people who sheer and snarI repre-
sent the same element which predicted disaster 10
While the aS ana so Of threw es np their
hands in horror at the Dissertation OF Manhattan
wavs. and who went into sackcloth and ashes
when the numbering stages IN Broadway Were SUP sup
later by the cable system. But New-York has
continued meanwhile to grow. not only compactly
the lower part Of the city but to stretch itself
further northward than the seer OF fifteen years
would have ventured TO predict as possibility
before the close OF the twentieth century.
In this connection the remarks OF James L.
LIBBY OF the welknown go real,es,ate hrm OF James
L. Libby SON at No o., o. L'nerty- ST. VIII be read
Tribune reporter:
financial depression for the last two three years
real estate was not affected The only way can
account for 1t is by the fact that the statistics show
the safest and best investment. The fact is that
as soon as makes a large OF money in
anything else. he invests II in real estate. where
he knows 1t will be safe. | know very wealthy
real-estate owner in Boston. Philadelphia Chicago
and New-York. He stated to me that during many
years experience as an Investor in realty In all
those cities he found that NewYork Is the best
his Broadway investments were remunerative
than in any of the side streets or In any other
the construction of buildings In the last eight
years than there was in the twenty-five years
previous This new S menod ana Of steel
strength, and also obliterates the danger OF fire.
am surprised that there are not more builders OF
private houses using steel in the construction OF
Them"
The auction sales IN this city during the last
sll420) for the corresponding week OF last year.
In Brooklyn the auction sales for the last week
responing week the total results amounted TO
sls.3ss The private sa.es OF last week aggregated
the revious week. During the corresponding week
OF August. 1894. the sales amounted to sl.04.eOo.
Conveyances 10 the number OF 3ol. OF which li2
pressed consideration OF N.o6L41. For the CORE
spending week of last year "a transfers. OF which
being s2el5is4.
The mortgage figures show there were recorded
last week 300. involving As2s,6ss For the same
senting the sum OF s.77s,273
There were fled In the building Department sixty.