New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-07-06

market who know much about the operations Of
the bulls and bears Of Wall Street and when
within the realty market try to decide this
interesting question they appear like farmers try
Ing to solve of the great problems of astron-
ony. AS to whether not real estate invest
ments good investments, real estate men-at
least, the majority of them-are of mind, that
is. they assuredly safe investments. and that
thousands Of great fortunes have grown solely
fro realty investments. Numerous large local
Institutions derive all or the major part OF their
income from real estate investments, and the
be said about some Of the most prom
inent Of this city. Almost every week this
fact is shown in many ways. and IT never
more clearly vividly revealed than in the last
week of the real estate market. and 1t will be
strikingly expressed in the transactions to be
closed this week.
The reason many persons speak dsparagingly OF
real estate a good investment, and particularly
some active in the real estate market, is that
II requires constant study to derive the greatest
profit from real estate investments. Constant study
means continual work. Everlasting labor is repug-
nant to people infected with the germ OF laziness
who strive to make money without being called
upon to their mental faculties TO the fullest
extent and to do manual labor sometimes When
the new man in the real estate field takes up the
study OF realty conditions, he begins wonder
how he could ever have said that Greek
undressing study and that mathematical prob
lens bored him. He listens to the talk of the old
in the real estate market who have grown
gray in the business and he trys hear attentively
what is said without becoming possessed OF a
feeling hasten of the city and be far from
the tall buildings that seem to look down upon him
and cry out. These the result Of study,
If there are any Of the essential qualities which
go make a successful operator agent or investor
himself looking up at the tall buildings which
before seemed chide him for his faint heart and
his woful lack of interest for real matters.
and trying to decide for himself their value Later
the new beginner will tire his friends by talking
Then his love for the old real estate books Will
he has started right TO reach a high place in the
real estate market.
Because real esate office is closed II does not
necessarily follow that the person whose office II
is is not working Many Of the most successful
real estate men are members OF many clubs or
associations formed for various purposes They
the nubc the Better they will be able to know
its wants and the more likely 10 supply those
wants when they are called on or set about to
A man who hopes and expects one day to be
the country will surely begin to study the topog
to be built long before the call the time
for the construction of the road He might read
through the Section. but he would probably not
learn g 6 %Gsh aa a ne got @
section. So IL is with real estate broker, in
brain and Industry TO bring him success. Their
offices are the places in which they can study and
fullest extent what the future OF the public
wants thew must seek the clubs and various asso
Citations they must travel about the city night and
day and they must strive to read the inner
and the outer man. by which is meant the true and
the unreal spirit Of the times
Few persons doubt that real estate men are not
good judges of character. To be Judge of char
is of the stepping stones to In the
real estate field. A real estate man who does
please his clients is doomed to be a failure. He
cannot please II he sells person house or some
parcel which for that person would not be a safe
investment. A person with $4,000 cannot carry a
house costing 500 OO0 unless he has a large income
for the taxes. cost Of repairs etc. the investment
would soon TO cooquial expression take
the roof from his head" and leave him out Of
pocket and out Of house.
These few facts may give a fair idea of what the
study Of realty conditions really mean. and of the
relation of the broker to the public. The brokers
as whole the trustees, II We're OF the vast
realty interests Of this city. II they are shrewd
! and conservative. a healthful market is MAIN
tanned; If they are simply boomers" fictitious
/ values are created and the public is the loser
/ ana not the gamer. II is upon the brokers that
men OF large or small means who have not the
time or the inclinatio to become students OF the
market must depend for advice and IT appar-
/ ENTITY tris TACT alone that drove many who
founded great charities to invest the money set
ASIDE Tor the foundations OF their charities else
where tnan in the real estate market. They were
! apparently not fearful that their money would
not De as wisely invested in real estate in rail-
! road or other securities, but they knew little
apout real estate and volumes about railroads and
other stocks And they also knew or, at least felt
assured. that after their death the management OF