New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-09-14
REAL ESTATE.
BUSINESS IN THE FIELD.

The market remained firm rock last week.
And It did move much more than one But
the present dulness. however. has a much different
significance from that prevailing a month ago.
The feeling Of confidence in the market is unmis-
taxable 1t increases the nearer the November
election approaches. Real estate men who have
been noncommital on The sit lstion now ventur-
ing out OF their shells heaving long signs Of relief
and declaring boldly that they alive after all.
Rentals the last week kept up the excellent record
of the two preceding weeks and did even better.
The tendency toward economy continued. al
ready announced. Sales of houses still remain
largely in abeyance. When it comes to invest
ments the feeling OF confidence in the immediate
future has not yet resulted in much activity. That
activity. however. is down in the minds Of the
leaders In real estate matters as sure 10 come
within months
The extent TO which investments in American
enterprises bearing directly real estate values
are affected by the prevailing money stringency is
shown by the manner in which the resumption Of
work on the Hudson River tunnel has been held
up In consequence of the free-coinage agitation
London capitalists, well as those in this city who
propose TO put their money into the scheme when
reorganized. declare fatty that they will not make
the investment pending any doubt of the success
Of the sound money issue in the present campaign.
The completion of the tunrel between Jersey CITY
and the lower part OF this city would work more
OF transformation in valuable real estate centres
than the casual ''server would thiuk II would
make West-st.. from the Battery 10 Twenty-third-
of far importance for storage houses than
present. Since the northern part of the double
tunnel is three-fourths completed. the amount Of
foreign and domestic capital ready to push the en-
terprse 10 the finish soon as financial con-
ditions shall warrant resumption Of work consti-
tutes a sufficient guarantee that the tunnel would
be ready for business within two years from the
time Of the resumption of the work.
The contention OF the owners of dwellings in
Forty-third and Forty-fourth SITS against the
scheme Of the Metropolitan Traction Company 10
put railroad in those streets between Broadway
and the Grand Central Station. is based upon the
belief of these property that the road would
depreciate the value Of their buildings in a marked
and Delmonco selected Fifih-ave corners in Forty
fourth-st. because the street was free from car
tracks. They made their plans for the main en-
frances OF their proposed buildings TO be IN
the street in order have little interference
with carriages possible. Isaac v. Brokaw and
I've properties. would have had no opportunity to
utilize these cornA,- 10 such advantage as that
In prospect had there been any indication Of horse
railroad being laid in Forty -fOurth-st for horse
railroad 1t would be- since 1t would be too expensive
TO put IN cable for the short distance involved TO
say nothing OF the necessity for a separate power
house. T
Even the proprictOrs OF the Barrett House and ~
the Hotel Renaissance have signed dissents from
the scheme This SHOWS their views OF the effect