The Savannah morning news., 1901-05-22
RAIN STOPPED BIDDING.
Poured Cold Water on Lot Sale in
CoIIinsviIIe Section.

CoIIinsviIIe Section.
The auction sale of lots in Collinsville,
on Henry, Duffy and other streets in that
section which Mr.. John l.. Archer con-
Quoted yesterday afternoon, did not bring
large prices nor result in the sale of any
large number of lots.
For several hours before the time ad-
vertsed for the sale to begin the sky
was overcast, and there were occasional
showers and before the sale was actually
begun the rain came in a steady down
pour. The result was a small crowd and
such difficulties in the way of conducting
the auction that the bidders became i'm
patient and Mr. Archer disguised He
called it off after only eight or ten lots
had been sold under the hammer.
Mr.. Archer prefaced his sale by some
remarks on the subject of real estate auc-
tions in general, and those he proposed to
conduct in the future in particular that
the crowd found interesting. Most of it's
members had had experience with the
conditions he described and cause to dis
like them; some, possibly, had made use
of these little business practices them
selves.
"A man can usually borrow on vacant
lots half their value" said Mr.. Archer
a thing for less than he can borrow on
it, although he may do the borrowing
first and then be obliged to sell for the
same amount he has borrowed; if he is
unable to keep up the taxes and interest.
That is my position now. l am attempt
ing to effect a change in the system of
real estate auctions. The usual method is
to hold an auction sale, and have one or
two people there to protect the interest
of the seller. These people bid the prop
erty up to a certain figure, which is fire.
quently higher than the property would
bring at private sale; If an outsider hap
pens to bid above that figure, he gets
the property; if he doesn't, it is bought
in for the seller This is all wrong. 1t
hurts the business and its practice has
resulted in the public losing faith in
auctions, and a crowd is hard to secure,
thus doing serious injury to those unfor-
Inmates who are obliged to sell at any
price they can get and are entitled to
the competition induced by a good crowd.
THE man who is well off financially
and Is unwilling to sell his property ex-
cept at full value has no reason for Of
fering it at auction except when he owns
a quantity of land and is willing to sacri-
flee a few lots here and there to induce
improvement, hoping to recoup his loss
from the increased value of the remain
der.
my idea is that when property is Of
fered at auction the minimum figure
should be plainly published SO that the
public would have opportunity to inves-
tigate and find whether or not it was
reasonable before the time of sale and
be able to Judge If it were worth their
while to attend. This would be fair to
the public and, if l am supported, the
reform will be accomplished. At any rate
it is my hope to conduct the business
in such way that my name
signed to an auction advertisement
will mean an opportunity to buy
cheap. When I get on the auction stand
l am going to get the highest price pos
sible for a seller; but when I sell the
price must be obtained from the natural
competition of bona fide bidders, and not
in any other way.
81 may not have as much property 10
sell, but when people are really obliged
to sell, 1 believe they will come to me
and 1 will be able to find purchasers for
them. In taking this stand l wish 1t
Thoroughly understood that | do not pre-
sumo to consider myself in any way SUI
perior to my fellow auctioneers. Savan-
nah is peculiarly fortunate in having
higher type of men employed In this bust
ness than most places 1 know of. SIM
DlY CONSIDER II a BOOu iiONC anu
hope the others will adopt similar pol
icy. However, every man is certainly
entitled to conduct his business in his
own way, and l have no objection to any
one doing as he pleases, and l will do
likewise"
The first lots exposed for sale were in
the block just west of Mr.. Archer's resi-
dence on the north side of Henry street,
between Atlantic and Paulsen. DR.. j. G.
farrell bought lot No. 3S for $3.50 and half
of loe No. 80 at the same rate. Not No.
81 went to Mr. C. V. Snedeker for $500
and lot 36 and half of lot No. So to Mr..
e. G. Black at the rate of S405 per lot.
Just across the street Mr.. j. S. Collins
bought lots No. 20 and No. 81 for 1890
each and Mrs. w. II. Neal bought lot
No ID for $4O5. Two lots on Park ave-
nue.. near Atlantic street, were sold to
Mr. Charles Allen for $3.50 each, and four
to Mr. W. T. Walker, which he was given
the right to select from number, for
$500.
Mr.. Archer expressed himself as great
~ dissatisfied with the result of the sale,
which he ascribed 10 the bad weather and
the consequent poor attendance. The sale
OF .he lots will be continued one afternoon
of next week.
VERDICT FOR FULL AMOUNT.