New-York tribune., 1902-05-19

arouse dispeasurs tomorrow. they think with
stable market. 1t is said, there must be, as rule
true standard of valuation Buying and selling, as
the outgrovth Of unnatural conditions. tend 20
false valuations Now the market is truly health
fuI and vigorous and II plot which sold ten years
ago for 500 square foot is sold to-day for S9 II
is because IL can be improved so that its income
power will be greater than II could possibly have
been ten years ago. Probably Tomorrow some
uya, may Dee found 20 use the property in such
way as TO make the return from the investment
greater than ever before and IL seems Ike court
lre danger 20 think that way VIII surely De
found tomorrow 20 double the valuation.
The question Of what VIII be the general price a
e7,ars foot for property az Thirty-foUrth-st- and
S.xth-avs few years hence is frequently heard
VIII t. be- 5000 snuare foot2 a small plot ar the
northwest corner Of Th.rty-fourth-~t and Broad
vrav was bought by Henry Siegel ftr considerably
more than SEQ "a square foot some months ago
Though that was record price, IL shows what
uses may de made OF the property 10 return a
handsome profit. or az least falr one rom the
sum Maid for the parcel Most Of the leading in
,-.,tors may hesitate long time before Offering
lfeher price for property i'm the section than that
paid by 3Ir. Sieeel but the consensus II opinion
appears tp le that the valuation az property theFe
viii leap upward rapidly before the tunnel roads of
rr.. Panrsvrvaafa and Long Island railroads
built auI the Rapid Transit underground road is IN
operation.
II seems likely thar record prices will be paid for
many parcels IN SiXth-lVe. IN the near future.
only a few DAYS ago il was reported that the
estate Of Eleanor i. Robinson had sold. through
Louis ScL-lg -ar building al the southwest corner
of Twenty -tl.rd-st. and StNth-ave. 70 the William
r. Riker a sons Company. The purchase price is
said to he a little more than A5oor1- Mrs. Robin
son bought the property in 1897 for $4,000 AS the
parcel contains 15 square feet. the purchase price
a square foot would De about S->l- The previous
purchase price "a square foot about s2II No
other parcel in the rota dryEoods district south Of
th-G-sr ever Sold IL is said, at S2li or $3.50
a square -oot. some other record prices a square
foot for property are. About SS for the southeast
T T5lt os d li bo, $40 for 80 ~ WaII-st and
about S324 Tor the northwest corner Of Thirty
When the sixth-aye. surface limo is extended so
tunnel terminal In West Tenth-St. II is expected
that there VIII bee good demand for parcels IN
fvseive years II there has been any rise in valUa-
uunoticeable In Jhe week Of Man 70, 1890 title 70
No. IL SiNth-ave-, three story 9IteN IeneInS,nt
house, with stores on plot -ioZ'..t feet, ana No
with stores on plot 3-z - isst Was SIs
10 J. NeWtoq Qs9r2 i2T $o or a29gt ITsa go sforv
4TlcH teiieiilel 50 ~ 6l6 T ,I,oIt az square
Henry ly-Nillhth !"L go Cd. - Srj rere111s1t
foIIse 40 s SiNth-ave was sold in 1899 for $1,000
& or loT IF SI rI2 2 on the east Side Of Sixth-aye up
10 Nnth-st has been $lS a square loot IN about ne
his particular section is about sl9 square foot
day. These figures are taken from the realty rec
one Of the interesting sales 2s, week was vas. th2t
GoIdIns for Frederic Bonner. 10 H. B. Hollins
This is the stable which Robert Bonner built t0r
mis- rrott-rs Many famous troJterS occupied stalls
I'm il at one time. Including Maud :. for years the
queen of the trotJius turf
The Record and Guide OF May L. in speaking
about the real estate situation, says, IN part
The real estate market ~tin retains the some
what subduvG tone which has characterized II OF
late and which is the natural and wholesome
result of existing conditions. The difference be-
tween an unwarranted and inflated boom and
fustinablr speculative movement is that IN the
latter case people know when 70 stop During
the past eighteen months values have Oeen in
creased I'm Manhattan real estate extent
which undoubtedly anticipates the growth IN earn
years Advances of this kind are dangerous, but
they are entirely within the limits OF a normal
speculative movement for II pays capitalists To
hold pruperty until its power Of producing incomes
catches up 10 its value But there is point be
yOud which such operations do not pay, and if
values should keep increasing IN Manhattan
that point might have been soon reached. Now ap-
parently the great danger of any speculative move
ment. viz that the Spectators lose their heads
and forget all about values in their excitement
the manipulation of quotations. this danger
IL may be expected. has passed
Operators are beginning 10 appreciate that every