New-York tribune., 1902-04-06


clined TO the idea that steps have been begun by
a number Of operators to make that part Of the
East Side section just north OF Fiftyninthst, and
attending TO Seventy-second-st., between Park and
Fifth aves as exclusive some Of the streets
IN the Nadson-sve. section between Thirty-fourth
and Forty-seeend SITS. ] Pierpont Morgan lives
in the Madson-ave. section. His home is at the
northeast corner Of Thirty -sixth-st. and Madison
ave and there building restrictions on most
of the parcels in the section, il current reports
are true. Whether not a number OF big op-
orators could successfully carry out scheme Tor
restricting the East Side district just north of
Fffty-ninth-st. and bounded by Seventy-seeond-'
st and Fifth and Park aves-, to private dwelling
houses Of the highest type, is a question which
cannot he answered II would be a stupendous
task and the operators, unless they We're owners
OF much property in the section, would derive little
benefit from their efforts. If such steps had been
taken. it does not seem possible, in view OF the
present business methods of the real estate
generally known Publicity would probably stir
a be keI 10 bGy What vi parcels they could in
the district. AS owners, they might not be willing
to become identified with the movement unless
they were well paid, and the movement would
then undoubtedly die natural death hesIflcLlons lions
as 10 buildings, etc, have been placed on many h
streets without much trouble. and without me
no one has as vet undertaken the task of restrict
ing district twelve or more blocks square
PERPLExING MOVEMENT.
There have been many mysterious realty move
in the last year but none Of the previous
ones were SO perplexing and mystifying as the
present one. Some OF the old students say there
is nothing puzzling about the transactions. and
dismiss the affair from their minds with the as,
sertion that the movement is only an unusual
spring demand for dwelling houses IN the secuoi-
Other students say IL was started by spectators.
growing more rapidly than most people think. The
future prospects OF the district certainly bright
attract speculators A speculator likes TO make
quick sales. and the more quickly he can make
he gTCl 9 X
returns his investment. Stagnaton in business
is the thing the speculator most breads: 1t IS
generally conceded that there is no such dreaded
spectre hidden in the section. After carefully
Of the buyers of dwelling houses in the East Side
district above Fifty-ninth-st; many real estate
experts have formed the opinion that there is no
movement under way 10 place restrictions on many
cue TO spectators, who see an opportunity TO re-
sell quickly at prcht. and TO persons who buy
TO occupy This opinion seems to be the right one.
LAST THREE MONTHS UNUSUALLY ACTIVE
The Real Estate Record and Guide" in speaking
about the real estate situation, says:
The most prominent and interesting fact about
the real estate during the last three months
is that activity has taken place than during
York real estate. Such is the testimony OF the
transfers recorded in the Registers office. 1t is
true that these records represent rather the
actions Of the last month Of 1901 and the first two
quarter Of 1902 but the filings at the Registers
ONCE are the only means Of obtaining any fgures
period have TO use them for what they
worth. These figures show that during the last
three months there have been 4.455 conveyances
curing the period Of the year previous there
~srs only 1850 conveyances recorded. involving
But the figures for this year are not only much
ney are also greater than those Of the year, which
Marked the high water mark OF activity in New
iofk real estate. Thus in the whole twelve months
OF 1890 there were 1857 transfers placed rec
reached IN any subsequent year. but the total for
tne first quarter OF 1880 only 3.540. which is
aoout 800 less than the similar total for the present
year II should be added. however, that for some
reason there was smaller proportional activity
during the first quarter Of 1890 than there has been
ouIiIs The corresponding period Of many suhse-
9Ient years Of comparative dulness fer the number
~ conVeyances recorded during the first three
months OF 1s9I 4025. involving S35, SEX $50;
curng the hrst three months Of 1895. 4l43, nvolv-
,ng .ng sZa e5aoss; during the first three months OF
first three months OF 1900 ISL involving $50 71s5o2
me highest OF these totals. however IS at least
le per cent less than those OF the present year.
~nlen are also some per cent greater than the
These figures have, OF course, been very much
swollen by purchases made by corporations for the
u t-a.lst improvements. Indeed probably
.i.s o1 the increase, both in the number or
rGaceo Girectly 10 such purchases. The New-York
SeHual' Tor instance, has taken title to ffty-fve
ssacels ior which IT paid 81 s13 $50; while the
ts sSslll ffeaIty Company has acquired posses
ncelar district. Yet even after making all allow
b--ss Aot Ahese special causes, the activity has
r.ei. anost unusual. and all the more so because
.stg oepar rnents OF trading which formerly
tl.oeleo laige number OF Transactions to the
s,os's nave been very largely neglected during the
&c Ifee nnonths. II is this fact which provides
beSaaS - assurance that when the influences
t, smo me existing activity lose their force there
VIII De ctners 20 lie rla~e