New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-09-20
TIE TEEK IN REALTY.
pssinc@ Generally Qaiet-Banks
and the Market.

and the Market.
..-s 4, ne the consensus OF opinion among
- ,5er.sfed with the realty market that the
80. ,,,rru,e az realty business Is considerably
rs, for tbe corrcsponding period last year.
= - the brokerage business may not be as
- as rrmunerative now as Il was about this
- - wear hut thc loss OF business here cannot
Ions Prom trc title transfers. the mortgages
- and the building plans an excellent idea
-, market and the increases or decreases in
r-. o. business may he had. The cause 81 the
- however. may escape one who has not
4 a. wears identified with the market. The
.i-s FOR 1892 and 1895 show some interesting
ara Iass,s iu The volume OF business in
,-,rs li-es.
-, most important fact contained in these sta
- which VII not down and should receive
- attention. is thc number 81 buildings which
- been projected Boa Mauhattan from January
-, as compared with the number OF buildings
- t-~ which were filed for the corresponding
- 1set vo1~. Tho increase in the number OF
: ,s.--s r-ofc-tra this ycar over that Tor last
u. fourteen This may not pc considered large.
.r IS wien thc building conditions 81 this and
u ,ssr ar taken into consideration. Last year
: = uas little discord in the building trades. this
= here tavc been many strikes and harmony
--, ,et boon wholly restored. Because Of the
-, s-rf.rs. work on many buildings projected
4, ,ss- n.s not vet been begun. and those delays
- -asrr-rf Ir serious loss 10 thousands u
--s7sn and to 1hosc Identified with the building
-.,r-ts
,.--.rr ar through the statistics and cropping
= Amos, rfer,-v here viii he seen the effects %
i, unsettled eo0dttiors ln tho huiIiing trades and
\. aer. money market Ry the Withdrawal ~
- sums from the real estate market. so that
"a sarn.-l power might nc increased. money has
- made far from easy Tor tho realty operator.
.-,s- or investor Tor some months. To-day condi-
.--s ar changed.
--,srt tfrv have many tics in common. the
.sf interests or tho majority Of persons in the
..tg business arc widely separated. Most Of the
,--s-c operators in striving 10 make the largest
,,s.tle gain 1U -lrr capital lean heavily on the
.,-,-st0~s and banking houses which loan ou
81. estate Few building operators or spectators
en- q single ueuclmbored parcel. IN what dire
.-s.s tfeg may ful themselves IL there is a
-,-sv sirfrre~ry may be imagined by getting
.-,-s- ireIcht iato their business methods. For
. same 81 ersrr'.tor decides 70 purchase parcel
-sd az Sa- r'0 Ho has O. capital or a little
-s- 81 o. fe alr'irs to "a bank for loan 81
rM for -rrrr years IT Isr cent which he
ms DO carry o-r his plans. An easy money
1rss, c1 .-trI when Dc got Tho loan. At the end
. t.s three gears r. finds that his property. which
rs rHt rarr able % seU since he purchased
tss DOT increased in value. when he applies
y ts hank ..r renewal NJ tho loan there is
sr money market. Tho bank tells him that it
.---t cor-lr.e frr mortgage fu force az per cent
-tvrI 0. SD at = per cent. he tries 10 Eet
v~ rate ar interest elsewhere and Calls lie is
5lrmu7. and tho only way out ~ it is ~
rent Tho offer ~ tho hank D. the bank had
fused ta continue the mortgage he might have
.s- forced ra give bonus 10 some loan shark
ksf7 himself from being forced 20 the wall
Realty frsr warm iu their praise ~ the
rl and courteous treatment which they receive
m -he t--ts and most banking institutions. and
,s-. tr.t poo bank would take undue advantage
them T- Is assumed Go Doe the duty or bank
-s-.--s ta lend money ON the safest securities
-t4 highest possible legal rate 81 interest
rsrgcr tnc banking institutions. while they could
-slv helr tho realty market by lending money
lover rates az interest than II present. should
r b expected 10 make such sacrifice.
Sere.ators and building operators could easily
uer thsi- Demands on tkese institutions hy work
\ WITH greater margin % safety. and also FORM
Il "a realty exchange such a. Bryan 7. Kennedy
49, should he formed. Nr Kennedy. If he could
-y sr- CTS ideas an this Hue would have the
.,r Interests welded closer together. His plan is
sEc a building erected ly real estate NJ 81
~ from t.s ground % The TOP story. Mnl-e o-
--ed tv real estate brokers and other persons
.fed with The market OF course. no. go 49,,
~. .s 4. n.firs fn the building. but there would
-r- enough there for the leading arms ms
d. state exchange should have Only one "01e1 +.
l have "a large eaiiiaL I. .4an o" To- 3,.lS ..5l5
aogr6 contain suitable room for the holding
ga ana other auction sale M 1-.',-,,S
1s cr triS subject were printed l ne : 'eli
- r7rr-r.- arr when there was uo talk ~
as in the huild'.E trades enc nc. r.
b. easily obtained. Il IS iA'uEhi liial ~,
1e ..f af this plan would put an eIlo ~ f,.inT
- r-+...-.I obstacles which stand in fhe way
- lettering 90 realty conditions.
81 t-rt one Thousand more ute canL ancfs nav
recorded go the Register 'iilye ms go
Joy rIo INC period lasl year - "a, ta,.,,
g -egfvr PROOF .i-t the demands i9f AtiiiiiallaIl