New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-12-24
METROPOLITAN HOLIDAY SUPPLEMENT-

ment-house population in Manhattan is about
40 persons a family.
The tenement house population on January l..
1896 was l.I41. 72S The census completed July
I. 1898. shows l.497.75 or a net increase OF
1jGO23.
The amount borrowed on New.York realty
last quarter shows some rather rcfnarRapie
changes from the same period last year. While
in the period Of last year $5.55l.31 was Dor
rowed below Chambers-st. In that OF this year
only S5J2 $50 was borrowed. without taxing
into account 81. 900. 900. the amount Of a mort
gage issued by the Wall and Cortlandt Street
Ferry Company. The amount placed between
Chambers and Canal SITS. was last quarter near
ly double what it was in the CORRESPONDENCE
quarter OF last year. the figures being ~ SD ~
and $963,57S. respectively. Considerably Tess
money was placed below Fourth-st. and north
Of Canal the several totals for the two quarters
being 81 7GS. 54G for 1897. and So 595.55O in the
quarter now under review. II should be stated
tina! the total of the mortgages Tor last quarter
shows large decline it being 3D.. o,zlo on'y
as compared with $i3,SlS.S21. after omittns
mortgages to secure corporate bonds in Ooth
cases. But. generally speaking. the loss is pro
portionatcly greater in the lower sections OF the
city. Last year great dea! OF money was raseu
on downtown property for other purposes than
for improvements; there was an active buildhg
movement north Of Chambers another above
Central Park. and another in the iwehty-thiiu
and Twenty fourth wards. all Of which contrib
uted to swell the demand for money This year
has seen sowing-up in all these sections eX-
cept probably the last, where, under the con-
ever. North OF the Park and south Of One-hun-
drcd- and twenty st the mortgage loans OF
the last quarter were only two-thrdS OF what
they were in the period OF last year. and the loss
here and that below Chambers-st. almost ac-
counts for the total decline. The comparative
figures for the section between Central PARK ana
One hundred "A nd -twenty-hfth-st. are Sll,
1876 against S15211 500. In the Twenty third and
Twenty fourth wards we have SJ.O41234 to set
against 81 $50 go for last years quarter ana
can, therefore. show a slight gain for this sec
ton The gain is more than all made in the OLD
wards the addition Of 1880 showing loss OF
about $l6OOOO
Ii was generally expected that with the close
Of the war the season OF 1S.)S'O would witness
a resumption Of activity in the real estate mar
ket Sales. however. have been largely confined
thus far to private dwellings. vacant lots and
old properties intended for Improvement. Pur-
chases have been made largely for personal resi-
Dental or for speculation. Two possible ex-
plantations for the absence Of the investor from
the market at the present time are offered.
Either the money which last year appeared
available for real estate Investment has Deen
temporarily diverted as a consequence Of the
war or the earning capacity of improved real
estate has been reduced by overbuilding 20 such
an extent as to preclude fair return on capital
invested. 1t is from the speculative buyer that
building interests have most to expect at the
present time.