New-York tribune., 1909-06-20

tate Or he may be a director Of a financial con-
which lends large sums on real estate Or
he may have large business interests which AFFECT
more or less the shaping OF realty projects. 1t is
not decreed that all real estate leaders must be
!n the limelight of publicity. There are silent
leaders who just as strong and dig as those
whose names known wherever persons con-
nected with the market meet There scores
of bank presidents identified VITA local lnstitu-
tions and also with others in other large cities
whose hands clutch firmly the strings which lead
the channels regulating the and rates of
interest mortgages and building loans. They
probably more conversant with the details of
the most important transactions tnan many real
estate brokers and appraisers. who often In stfv-
ing to ascertain particulars about operations in
volving many hundred thousand dollars get the
facts in indirect way and often badly dist' rted
Without real estate leaders the market would not
occupy the high place that It does.
IN THE ACTIVE DISTRICTS
Now in what districts are the leaders helping 10
focus the attention of the investing public? few
months ago they loudly narrating the realty
perfectiop of the Washington Heights and Dyck-
districts, and at about the time the
charms of many central districts in The Bronx
revealed in most enhancing manner. More
over since the fall they have
telling investors and speculative builders all about
the profits TO be made in dealing in the central
Fourth avenue district, and the extent Of the op-
erations there shows how successful they have
been in this respect
Last week the pendulum Of realty activity in the
market pointed invitinEly the midtown
districts which form a part of the principal
amusement and retail shopping of the city
and also part OF the Pennsylvania tunnel region.
1t some Of the realty leaders who swung 1t
around to lead prospective buyers to that
zone, and the reawakening OF interest III the terri
tory vas so marked TO be considered by. many
a forerunner many deals OF the spectacular
type TO be perfected there before the new year is
ushered in In day deals involving properties
valued at over $4,000 and affecting sites in the
district were reported. For the old Union Dime
Savings Institution property. at 32d street and
Broadway a market found at S.5Oo.oD II
OF the largest all-cash transactions report
ed in many years. II plainly showed what many
experts think of the future OF the district not
withstanding the big Increases In values which
have taken place there in recent years, and the
large numbers of building projects. which were
mainly responsible for those increases which have
been planned OF carried out there.
WILL NOT IMPROVE BANK SITE
The City Investing Company bought the property
about two years ago for about 81 10000 and thus
realized profit Of $4,000 from its investment.
Edward Hedey Cuthbertson and Charles Kauf-
man. of London England, the present owners OF
the property, expect to make large profit from
their purchase did the company of which Robert
E Dowling is president They have TO intention
of seeking get such profit by replacing the old
structure on the site with a big Office and store
building. They going TO leave the improvement
of the premises to the person syndicate which
buys the property from them. II was Samuel
Goldsticker who got Messrs. Cuthbertson and
kaufman to purchase this fine parcel of real es-
tate with a frontage of about e29 feet In sd
street and little AZ feet in Broadway. and
he is likely be the broker in the resale OF the
property.