New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-05-31
THE WEEK IN RE4LTI.
Market Remains Stable IN Spite OF
Labor Troubles.

It Is stn difficult to tell whether the present
realty year is likely to be productive OF any inter-
es;ing records will sUrpsss or equal an any re-
spect the previous year. A month ago IL Was Gun
hdently asserted that the number OF pul-clieS
erected, at least planned and hlea' TINS !edi
would exceed the number OF last. When there was
little ground for fear that this prediction mieh' De
far from the truth dsCord Unexpectedly arose IA
the building trades and the brilliant pictures OF the
future in the realty market disappeared IN
twinkle Most persons of q prophetic turn of mind
then feared to foretell that good times would soon
be at hand again
If the supports OF the market were made OF
fin7sy material and dependent for part OF
their strength on pretty speeches about the millions
that may yet be made in realty transactions
panicky times might have followed the bullolns
trades stagnation- But the local market Is hot
what may be called a chrome market, and that
fact was never better illustrated than AT present
The word chrome aptly describes the difference
between a false and true market. In the chrome
market there is need of verboslty OF me hileI
victim pay a good price for something WhcA Is
practically worth nothing. Without display OF
not know that tits faxed. and present ior each
victim. the sales market would be an UNKNOWN
thing in the chrome market
FEW PLACES WITH FALSE VALUES
There are probably only two places in the
limits OF the city where realty values are false
SO small and insignificant are they that the
boom which IS affecting them is looked on as fur
invested in real estate and who have fair idea or
the general range of prices ,.,,.. = -,
In the present trying times the Stabillty OF the
New-York real estate market has been proved De
building trades have resulted in the ABANDON
ruent- Of large numbers of building plans unGer
way Instead Of a display OF lack of faith In the
efforts re-cStablsh harmonious relations between
ful exhibition Of hope. And this hope is written al
over through the statistics of the market which
hest reveal conditions While the statistics are be-
ing examined. the fact should be forgotten
ticaly idle and that they viii soon have to close
Up shop II they DO not get something 10 90. The
statistics show that the total number of projected
buildings in Manhattan and The Bronx from Janu-
spending period last year The estimated cost OF
THE 77O buildings S3S.z99Sl5. and for the 40
buildings So Thus, il VIII be that the
building for the periods are almost
equal hut that the cost of the buildings Of this
year is than million collars greater than the
cost Of those projected in the first FIVE months last
year.
Ono OF the principal transactions of the week
the sale Of plot 250xl1l-10 feet on the north side
Of One-hundred-an 200 feet of Sew
enth-aVe., TO syndicate Which VIII erect pelota
court.
A REALTY PAPERS OPINION.
The Real Estate Record and Guide of yesterday
says in an article or the real estate situation:
Apart from labor troubles. the real estate and
building situation in NeN-YoTk is in a thoroughly
wholesome condition. and after these troubles
there Will be resumption Of building even
larger seal. 1t can be affirmed positively that
tho real estate is properly improved. justified
ly its income producing power. The recent Specu-
latinn in real property. far from being wild
crazy has been the conservative expression Of the
York. and IL has been conducted for the part
lv well informed and prudent men.