The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-11-23
THE REAL-ESTATE WORLD
.usRLE PROPERTY CHANGED
HANDS DURING THE WEEK. -
ro,. of Defunct Realty Company
Finding Purchasers and Creditors
May he Satisfed-Statistics.

With ISL sales or real estate, the total
value of which was recorded as $539,s13, the
.,eek lust closed is said 10 have been a
nod week for the real-estate men, con-
s,aering the time, the third week of No
,-snber. The sales of the week have been
Cor the most part of residence property.
1Iouses and lots have overbalanced lots and
business property three to one, and most
Of the sales reported were of big values.
p-onerty sales at 5000, $1,000 and 5000
we're common $4,000 sales and upwards
daily occurrence. and sales of the size of
ssoO0 and $4,000 were made during the
week.
william A. Van Buren,, receiver OF the
National Bond and Realty Company, is
aisposing of many of the lots of that
arms East End addition. At their ap-
praised value $500 and up. according to
their desirability. the lots are finding many
purchasers, and already more than a hun
dred deeds have been transferred. The
sales are all being made on the basis Of
"a large cash deposit with note secured by
a mortgage on the property for the balance.
The lots on which there are houses in
course of construction were taken readily
and now there are few left. Attorneys for
the receiver say that within four years the
receivership will get enough money out
o. the property 10 pay off all Of the obliga-
Company. Some of the creditors, not re-
living on the value Of the property as be-
ing sufficiently large to satisfy all claims
against IL. settled for 80 and 60 cents on the
dollar Others who believed i'm the value
OF the property. held on, and these men
are confident that they will not lose. After
all Of the lots are sold and the money on
41,a frcf received Is
that the balance will be paid. When this
condition arrives. the receiver thinks that
the creditors, will have confidence in the
company, and the paper of the Bond and
Realty Company will be nearly of par
value.
The building of the week was ordinary.
Aside from James L. Keach's permit to
build a business block on Indiana avenue
no large contracts were made Numerous
repairs and additions are being made in
all parts of the city, but there is not much
building The prices of materials and the
uncertainty of the weather make this the
condition the contractors and builders say.
The Medical College of Indiana intends
erecting an addition TO it's building at Mar
ket street and Senate avenue on the lot
bought from Mrs NJ Nj. Cummings, Fri
day.
Yesterday was the smallest of the weeks
transfers were recorded and the aggregate
money value of the transactions was $15,50S
OF the transfers the largest was that OF
Herman l.. Martens to Sarah Reeves OF
the property at Sheldon and Sixteenth
streets. for $500. Adolphus S. Smith bought
Of the sheriff OF Marion county a lot in
BroOksde for $3276.
Z. W. Hamilton yesterday sold through
the ]. W. Friday agency a six-room resi-
dence at $3.50 Lowell avenue to Charles
ShOrtrdge for 81, go. The same agency solo
10 V NJ Wright a lot on Beechwood ave
nue., owned by ID. Nj. Parry. Annetta anC
Grace Oval sold their residence at 400 Blake
street to Kate Dugan for $500 through tn,
Seidenstcker & Roth agency. A sale o.
business property announced yesterday wa:
that of ]. II. Malott in selling his two
story brick building at Washington anC
Whittier streets to a. Nixon for $3.50. Thi:
transaction was negotiated by the Cross &
Brown agency.
One of the largest mortgage releases re
corded in the county recorders office re
Gently was that of Nov. 10, when the New
York Security and Trust Company released
its mortgage Of $250.OO0 on the Manufac
turers' Natural Gas Company, of this city
The gas company has ceased business il
Indianapolis and has removed it's mains
from ctr