The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-04-25

ground there is for believing that their
value exceeds $3.50. 200, O00
The Waldorf, the Astoria, the Neither
land and the Astor House are among
the hotels, while there are at least haif
a dozen big office buildings in the finan-
ciai district on their books. There Is
lot block in Broadway. between
Chambers and Fourteenth street. on
winch they do not own at least one
Duluing, and upper Broadway, as far
as forty second street, where they own
three Of the four corners, Is dotted with
the name
The west side Of Long Acre square
ana blocks of private houses in the
rear are theirs, and, up town, row upon
row OF dwellings and square after
square of vacant land is held by one Or
the other Aston Beyond the Harlem
nolioWlng the family policy Of north,
ward extension, they have bought great
tracts within the city limits which
future generations of Astors must de-
veIop as the present heads of the fam
ny nave developed land purchased NV
the founder W
ana each year as the mammoth in
CuLlle rolls IN new purchases are mace
SIMPLY 70 Keep the money employed.
LIS recipients cannot spend it. IF !,
century has built up a real esta1e
ownership so great that it's extent can
not be accurately told, even in round
nGiIlpefs' VINO is to say what the total
WIN VIM De when another hundred years
mas rolled away
dominated practically by the Same
policy, the Goelet and Gerry real &C.
tate possessions have risen to a com
oihed total value of $4,000, 900. The
founder OF the fortune, Peter Goelat
VINO died in 1877, bought improve3
leasenold properties and vacant land in
growing sections OF the city. For the
ont OF h.
money to builders, many of whom
were unable to carry their enterprises
through. The properties thereupon re-
verified to the Goelet ownership.
Gradually the holdings became very
numerous, and, as the city grew, very
valuable. Then was instituted a sys-
tenn of extension and ownership similar
to that Of the Astors. The estate sold
no properties, it bought many. Under
the direction Of Messrs. Robert and
Cgden Goelet the value Of their hold
lngs has increased greatly, and the
Gerry management has been hardly
less successful.
The Goelet estate has been mora
progressive in it's improvements than
the AStor, and their real estate ia
therefore in better income producing
shape. Within few years they have
erected such buildings as the Knfcker
becker and Murray Hill theaters and
IL,
smaller undertakings.
The1r properties lie in most of the
desirable sections of the city. but
chlefy they are along Broadway and
Fifth avenue. in the downtown mer-
camille district and in the neighborhood
or the Windsor hotel, which they own
and which stands on land that WIGS
originally part OF the Goelet farm.
The estate occasionally comes into
the open market as a purchaser. and
on such occasions the dazzling effect
OF great wealth on competing bidders
Is quickly shown. An auction sale of
the southeast corner Of Broadway and
Houston street may serve as an illus
tration valuable corner, 1t attract
ed large crowd Of opera tors and in
Vestors, some Of whom promptly re-
sponded when the auctioneer called for
bids. The agent of the GoeIets was
present He made an offer and most
OF ms competitors dropped out Of the
struggle. He made q second bid. and
the property was knocked down to
him at price considered low. What
was the use Of my bidding" said
wealthy investor who coveted the
property, in explanation of his conduct.
The Goelets wanted the property, and
there was an end of it. Any offer that
l might have made would simply have
wasted time"
THE GREAT EMO HOLDINGS.
Broadway and Fifth avenue real es-
tate has chif1ey attracted Amos r.
Emo, one Of the men to- whose shrewd-
ness only and not to that of his an
cestors, is due the magnitude of his
fortune. In the fifties he bought the
property west side Of Broadway and
Fifth avenue, Twenty third and
Twenty fourth streets, then occupied
by the hippodrome, which was con-
SIThcnnnoTtIxy ho
erected the Fifth Avenue Hotel, which
he still owns, and the opening of which
greatly stimulated the district in which
1t is located
Mr.. Emo since that time has bought
heavily along Fifth avenue and Broad
way and he has shown an especial
liking for odd but valuable parcels,
like the triangle ct the junction Of
Broadway, Fifth avenue and Twenty
third street. Madison square south He
has figured in the market as a seller
only on rare occasions, but on most OF
his property he has never put a price
1t is not for sale. Though advanced in
years and not now active, he is con-
sidered one of the best judges of values
in New York.
MADE IN TRADE AND FINANCE.
OF such estates as the Arnold &.
Constable, the Alfred Corning Clark.
James McCreery, George Ehret and
solomon Loeb it is not necessary to
speak in detail. The money which went
TO found them was made chiefly in
trade and finance and put away In
real estate, which the purchaser re-
garded as the safest of all securities
for the employment of their surpls cap
ital. The holders named own some OF
the most valuable parcels on Manhat-
tan Island, and their possessions are TO
be found practically in every section OF
the city and in every class of property.
The Wendell, Rhinelander, Langdon,
Furniss, Roosevelt and Stokes estates
have reached big figures through gen
erations Of heirs shrewd enough to see
that he Wisest policy of management
was one which held on to New York
realty as to that which is good. Broad
way again crops out on the books. Of
these estates as the backbone Of the
real estate structure. and there are
in addition office and mercantile build
ings, dwellings and vacant plots.
HIGHEST PRICE FOR LAND.
D. o. Mills and Matthew Wilks are
connected chiefly with valuable office
buildings. Two Of their largest proper
ties stand on either side Of Broad
street, at Wall, on sites that cost fabu-
lCus figures. Mr.. Wilks indeed, holds
rank in real estate history as having
paid for a tiny lot at the southwest
corner Of Broad and Wall streets the
highest figure per square foot ever
obtained for land in the United States
To complete the site for his present
building he bought from the late John
Jacob Aston in 1885 a few yards Of
ground at $3.50 per square foot.
d. Willis James has probably fur
nished more money to builders for the
H. ! i