New-York tribune., 1911-01-01
AUCTION SALES POPULAR
Attracted Millions Of Conserva.
tive Capital In 1910.

Millions of conservative capital anna.
investment through the real estate auofir~
market in 1910. Business reactions ana n.
uncertainties OF the general financial ara
look have strengthened good realty IN n.
estimation Of the best investment circs..
Offerings OF exceptionally large estate hoM.
ings have found such a ready market st b,sA
prices that no one Is I'm doubt az IA ~.
great amounts Of cautious capital wh,eh
are awaiting all favorable opportunities n,
accommodating New York real estate.
Although the last year has been rssn.
tionary in real estate as well as in osss,
forms OF investment. the movement has
materfalized in realty dulness rather thsr
in depression. II has been a period "A
stubborn quiet rather than Of liquidation
In Manhattan and The Bronx a rou,a
$50 10000 OF realty has passed under TIA
hammer during the year. This compare,
with about S57.5O00o0 In 1909. In Create,
New York the auction sales have mads
total OF S75,O00,000, which is only q shshs
under that OF the preceding year. In tn
entire metropolitan district the agsress,s
is close to SSs,00O,0oo.
Operators as well as investors have
recognized the advantage OF buying IN
free and open market. with plenty OF out.
side competition. When parcel is struck
down they know that the price establishss
is the best and surest index OF current
value. II reflects the composite opinion o.
the shrewdest students OF realty. which "a
better and truer than appraisals BY Tia
best of professionals.
MANY operators who have bought prcc.
critics at auction during the year have bee,
able to sell them at respectable prons
Some have made good returns within a few
weeks. Such opportunities are the bes,
recommendation that the auction msrks,
could have. The oftener they occur the
more will they advertise the fact tha,
every one Is sure Of a square deal when
bidding before a responsible real estat.
auctioneer and the more will investors
watch for offerings at auction.
Business OF the coming year Will depend
10 a great deal upon the rapid transit sub
way situation. There Is no doubt ths,
the final settlement OF constitutional
problems will start a burst OF activity
| throughout all OF the sections TO be stimu-
lated by the new lines. Such activity can
not fail to make higher prices.
| Many we'll known estates disposed OF
, their holdings at high prices through the
auction market during the year. among
/ them being those Of Samuel Sloan. Richard
| Mansfield, Edward j. King, Mary A. Gris.
wold, Thomas Patten, Annie Van Pet
/ Susan NJ. Swenson, etc, etc.
| Transit considerations have ruled the
suburban as we'll as the local auction fed
/ largely, during the past year, and the re.
| suit has been seen in some remarkably
successful sales. One OF the most notabls
was the division OF the Morris estate hold
| ings in the Western Bronx. The ofrerin.
drew out an immense amount OF privat,
/ investment money.
| Scarcely less important I'm the way OF new
| home development were the Long Island
offerings. Great tracts OF hitherto vacant
! land were distributed among hundreds Of
small investors. one Of the first really
| big. and remarkably successful auction sales
| on Long Island was the opening sale on the
| Jamaica -Hillcrest tract on June 2s.
II is plain that the rapid transit situs-
ton will make opportunities for many NOR.
such offerings during the coming year.
In fact. the suburban auction market ough,
! to occupy dominant place I'm metropoi.
| tan realty operations during the next few
wears. because some OF the greatest land
| transformations i'm the history Of New
York are about 10 be realized and the open
ing of new territory TO builders upon such
a tremendous scale will become especially
attractive 10 private investors.