New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-11-24

before the MORTGAGE loses anything. For
the holder of mortgage which does not
exceed &C per cent of the value of the
property tremendous depreciation is
necessary to endanger the security of
the investment. Unless it covers prop
erty of a class peculiar to itself, such as
clubs, theatres, etc, which are always
undesirable for mortgage loans on ac-
count of the limited market which such
properties have such loss is very inn
probable
THE value of New York CITY real
estate may fiuctuate with the times; It
may rise and fall, but I'm the last analy-
sis it will be found that the amount Of
the increase has exceeded the deprecia-
ton
THE city's increase in population every
year equals the entire population Of Al
bany, and in three years the population
Of Buffalo. 1t is estimated that In 1859
the population of New York will be
1000 ,OCO."
Appraisers frequently complain that
one Of the most difficult tasks they have
TO do is valuing the foundation work of
structure after the upper stories have
been constructed.
The cost and the manner In which the
excavation work was done is first deter
mined by some whose services are highly
priced Whether or not the foundation
Is faultless and its cost are next ascer-
tanned. il possible. The larger part Of
the foundation work is generally hidden
from view, and the guides to a good APP
praisai are in many instances external
signs.
Cracks in' the stone work or in the
brick work, particularly in the window
arches, linteis and sills, and in small
brick piers, Indicate" said q. Richard
Davis, in an address to a real estate class,
"a settling which is due to either faulty
mason work or foundation work, general
~ the latter. A house built upon rock
foundation is always superior TO that
built upon any foundation soil, and
If possible the character OF the footings
should be ascertained, either by boHngs
IN the yard or cellar or by reliable hear
say evidence. In tall buildings the OBJ
tanning OF a certificate from an engineer
as to the character Of the foundation
work is almost an essential, and a buyer
Of improved property Of this character
should hesitate before investing until he
has ascertained tho manner in which the
foundations have been put in and as to
the character of the uHdorsoil.'
Realty prospects in Madison avenue,
from 59th to 96th street, have recently
furnished the typic Of lively discussion
among builders, brokers and property
owners.
The Real Estate Record and Guide
says that this is a promising avenue for
fine apartment houses In regard to this
subject 1t also says in part as follows:
New York City property. II it be at
all advantageously located seldom
marks time for very long, ard present in
dications are that the northern part OF
Madison avenue will In the near future
experience a resumption OF activity, and
that the prosperity which has struck the
avenue below seth street viii reach
above in the next few years.
The changes are not likely to be az
rapid nor are the prospects for great
enhancement in land values as promis-
Ing as in the zone Immediately under
the influence of the Grand Central sta
ton, but a normal growth Is looked Tor
and speculative builders are beginning
to interest themselves In good sites for
new structures.
There are two principal factors at
work for the good Of this district, and
their influence is already being felt The
one is the change Of feeling OF fashion
able folk as regards apartment house