The sun., 1901-08-25
ZEAL ESTATE NEWS.

-..k justified the expectation mat sporaoio
.~tyity rather than uniform quiet woild
.s.,,c,eris. current dealing The earlier
.. ~ the week were absolutely devoid Of
s.,.,s.t. but the business made public yestsr-
~, uould a year ago. probably have been
..,d.d as q fairly average weekly budget.
vs..,ver the trading was distinctly mis-
.n,n.ou.. indicating a breadth of interest
a, The realty market quite unusual at this
...son some part OF the activity was cred
80 % realty corporations, but the bulk Of
~. transactions must be assigned to the
..count Of Individual speculators and In
vetor,
Ths continued prepopd erance Of business
A. 10 individual initiative IL q suggestive
s,,tute The marked multiplication Of cor
,ot.tiops year or two ago gave rise 90
.ppr,henson that small operators AID In
,,.iors might be driven from the market and
,hsf indeed eventually soms large group
n companies might consolidate into a trust
for the purpose OF controlling rents II APP
Gar. TO be becoming accepted. however.
"a, while the sreat capital involved In mod
arm building operations In the metropolitan
..c,ions Of the city nec~ssitates larger bust
,..s units In constructional and operating
,n,erpr.se than formerly. nevertheless tho
s.c.nir Airing influences In real vs,ate re-
main stronger beyond certain limits than those
hat lend toward consolidation without
any notable exception. the companies In eI-
,r,nc. are developing companies. doing a
more Or less strictly speculative business
The great profits In real estate are derived
frou eIper, ability 10 buy property In transit
bon localities and improve Il or re.ell Il for
Improvement with more productive buildings.
.s by replacing dwellings with nat. fats
vlth lofts and lofts with offioes In Conformity
9Th the uncvcnly expanding requirements
ot tho residential. mercantile and financial
coumuulties. or from replacing antiauated
buildings with modern ones In the same clas.
m conformity with improved methods Of
construction PROFITS IN this. as In any other
line Of speculation. are not inherent In the
,pecuAuon. hut depend on the genius that
directs n Tho recent rnultiplica ton Of de-
veoping companies u trao-sble to the neoes-
atty on the part Of successful operators to
secure financial cooperation In order 90 OBJ
uln N. large capital that has come TO be
required for speculation In hlxh-class prop
srty and that some of them will not endure
/. quito a. certain as that spectators, operat-
ins Individually. are liable To go under a. a
r-~uli of mad judgment
When u comes TO holding real estate for
Investment Il IA found that the income tends
10 conform to the interest rate derivable
from other Investments Of equal security
In Boston. where the formation Of realty
trust companies has been encouraged by
legislstion, the trust stocks yield a COM
pariuvely low return In one sense real
estate il a monopoly. but practically IL is
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