New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-08-02
THE WEEK IN REALTY.
II Word about Investment Fields
Ready for IRUaSiOn.

There were few bright spots IN the real estate
market last week. Country fields still continue to
be more attractive to the majority OF brokers, OPP
orators, builders and investors than local prop
critics. and it is probable that the vacation time
will not really end until the middle OF September
Some persons think that few big movements VIII
be begun before October !, and that II VIII be
some time later before the details of such move
ments become known and stimulate the market.
The volume OF business done so far this season
has been better than expected. and the tone
OF the market, despite the stagnation or unsettled
conditions that existed in many lines OF business
has been truly gratifying.
The most cheerful sign has been the vigorous
hopefulness shown by the greater number Of per-
sons identified with realty transactions, and es-
pecialy by scores of little investors. who it was
thought might become weak hearted in these try
ing times of the present building trades strike
In the few months there were no indications
that many persons who were unknown In the by
ways and the highways of realty were grasping
the opportunities offered for picking up bargains.
No one apparently expected them and those who
made their entrance into realty fields were so few
as not to attract attention. AS they were not
looked for their absence was not disappointment
That such investors will come in large numbers
soon, provided all the building trades strikes are
settled at an early date and will bring with them
plenty of enthusiasm and hope for success which
have never known the chill of failure appears
to be certainty.
MAR4AnT READY FOR NEW INVESTORS.
For long time the market has been getting
ready for them. The sleepy realty worker may
not have yet seen what has been done to attract
them and to hold them when they come. STILL
preparations with such end in view have been
made and being perfected in a lesser degree
than some months ago. When the housekeeper is
getting ready to receive guests does she not SEQ
that the house is thoroughly cleaned from the eel
lar to the roof. her table set with the best dishes
which she has and the choicest edibles she can
afford ready to be served? The realty market may
be ukened TO a household where the hostess is
ever planning to attract and to entertain old and
new friends under her roof. The larger part of
the public may, in sooth, be called the guests OF
e ~ ny ret Get false iSeas abort the wants of
this great number OF guests, become aVaIlcIous 10
ter how they make it so long as they keep just
within the pale OF the law ana the result Is CE
as investment Then values shriVel almost to
for the future DISAPPEARS and before the majority
of such leaders are sent TO OBLIVION, WheFe tlley
estate oe eHternrises To him ali landlords are rich,
the day of his death by paying rent or Joln tue
the past and the present true in no year have
there been landlords who, to use trite express
sion. were not land poor" Success and riches IN
realty do not come to every person who buys with
OF Of FATS In Manhattan alone there are many
buildings which stand, 1t may justly be said az
unwisely for the highest and most coveted places
on the other hand, when the leaders of the mar
ket are conservative are building and working
stable lines watching for the constantly
changing whms and desires of the public, and
while they Gushing themselves upward TO
greater pinnacles of fame in the market than they
have ever stood on and are helping others to get
up higher by their example ana actions, nave tney
made attractive and alluring the way to realty
paths? Well that is Just what they have been
doing for years. While they have been doing
ali this they have received some severe tests,
which, beyond question of a doubt, proved the
soundness Of the lines which they have worked
and working, and Of those tests is the
building trades strikes.
LEADERS WORK TO MAKE MONEY.
Here, again, the sleepy realty man may inquire as
to the nature Of the work that the majority OF
realty leaders has done to attract old and faces
the real estate market again OF course there are
leaders, or in fact. one, far as is known,
who is in the market Just because he wants to oc-
cupy his time and mind. One and all are tiere 10
make a living, and, If possible, something more
than mere living from realty transactions
number Of leaders confine themselves almost en-
tiTely to the purchase and the management of fiat
house and apartment house properties. Then, there
larger number of leaders who buy vast areas
keep 1t until the time is ripe for selling their hold
ings in lots plots to small and big investors, or
who buy and improve properties to resell. one
syndicate of realty leaders bought months ago
blocks and blocks of unimproVed parcels at the
cost of millions of dollars, and already many plots
Of these blocks have been sold to builders and in
vestors, all 10 be improved on the best lines.
The raDd transit subway system traverses these
blocks. 1t announced IN The Tribune Fri
day that the subway system would be ready to
carry passengers on April l of next year, or eight
months from yesterday Long before that time
the greater part OF these blocks under the control
of one syndicate and on which wise restrictions as
TO the kind of improvements to be made have been
placed, will II IS thought, have been sold to old
and investors. This is only of the many
opportunities be grasped? They will if the opinion
of many workers in realty fields are correct.