New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-08-23


The Record and GUIDE" in its last issue, says
C tie real estate situation:
10 sales have been announced during the last
week which throw any new light upon the real
81 go - 80 - ~ ne II ca
ers ia me speculative movement Of the last few
IN no position 20 continue their operations a
very laige scale They are even unable n several
f0r large buildings, winch they have already
spent great DEAL OF money. and it has been very
ei6ent Tor some months past thai several of the
most important speculative operations recently
completed have not PANIED out anything Ike as
Ne Is was anticipated.
The situation IN which these speculative cs;n-
P5Hes ma themselves suggests the question
whether their present obvious embarrassment IS
Gle 20 Temporarily uniayOTable conditions or 10
something which radically wrong about their
inethea = organization aid policy. These COM
On F-tt large resources sort OF speculative buy
.ls and improvement Of real estate, which their
OF a smaller scale and there Is undoubtedly room
90 pax Class oI operation IN 2 city ike New CIh
which Is growing prodiSlously- The question IS,
lions does totally alter he conditions under
which :i-ey De successfully carried The
money Tor su1a specuIatioHs must be derived from
= nats sufficient confidence 10 purchase largely
hey mus b. well assured that Their money is be-
EEt II IS extremely difficult for corporation
s.llcA combines speculative and contract building
w investment buying and pulding to create
t4at Impression The sure but sometimes slow
-Leuts ara ~ totally dAerent c.ass from the pos
slby larger bI recessariy hazardous profits 10 he
cer-r.3 from the operations OF big construction
COMPANY or from speculative dealing. and the in
-estar Is nc likely 10 class safe a corporation
whose business Is diverse and whose profits are
80 Dra1artoGs The biz realty and construction
companies may not find 4 desirable g cAaure the
organization gf ileiT business. but It they do NOT
alter this organization the capital behind them
VIII reg taD-T continue 10 be oh fl the capital Of
'5e-c original promoters When the preferred stock
q &c o. ihe:n paying per cent. gets Gown TO s.
= = C2E 200 plain that, whatever else hat stock
e = Is & dangerous investment.
A. ANS Fate. = seems extreme y improbable that
lhey VIII be as effective influence in tie real
estate r2aTtet curing the coming year they have
bsel ye2eutly Il VIII 1v the small speculator and
.EN@s.o- Eo VIII gre character 20 tile real estate
operations ~ l-3-'t4. ard the change VII doubt
less - t5E the benefit Of an concerned. The bust
Cpss man who IS looking for larger or better ac-
Communications tD which 10 rlGIuf .ctu~c and sell
his goods WI also continue constitute an ef-
sertiVe factor IN steauEluE ard advancing values
i IS II he particularly noticed that however much
operations are decreasing IN the financial and
wholesale Gistrt~I ESth-a-c continues its career
r business acerc.1t- During the last week II has
been announced -hat two shops VIII he opened
on ire avenue II a Few a:oDths-one that OF a
T-csrv-t ir6-st fcweiler an6 the other the branch
establishment OF n Broadway fTiterer
?. IS booming more established chcr ever that Z
sore waich caters 10 a high class Of trade no
natter where else Il 4 situated. must have a
place ~ business on F-f7h-ave- between Twenty
ztrh AID Fc-ty-cishth sis and in many cases
these rem 7-als taking place entirely al the
expense Of TWeaty-t alrd-st- aud Broadway. There
have beer more vacant stores on T'wenty-ttird-s
thls sumner than Al any time for many years past