New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-12-01


foreclosures here" he says. And the
fsecond because per cent interest Is
lreadlly obtainable-in fact. Is the prevail
ing rate. Mr.. Burgett says safe mort
gage loans pay 6 per cent 10 per cent
interest.
HER REALTY INVESTMENTS.
Mr. Schley believes the most desirable
opportunity for permanent or specuia-
tive realty investment is TO be found IN
lproperties between Water and Joachim,
and St Louis and Government streets
pointing out that the lot 5OXlW ieet' Oh
which stands the Bienville hotel couiu
llave been bought for $1,000 In 1870, Whlle
to-day IL Is worth at least SiOVU. lie
SAYS that 1.-The unearned increment on
lower Government street is not so great
| but that There has been vast III
R,rease in values from Water and between
Church and Adams. eastward 10 beyond
catherine and Hamilton streets. ana that
from this section in al direS ao ms pcop
TO 800 per cent" He says that In spite
.of this advance property IS not yet 100
shigh."
Why Reslty's Safe.
Mr.. Butler thinks Property can never
be lower there" He explains that After
the 1sO6-'07 panic. there was a steady de-
cline in realty values until the first OF
This wear when apparently having eot
down to 'hardpan, they began 10 rise
gradually While the increase has peeh
healthy. not unduly stimulated; Iots nare
more in the last six months than IN the
three preceding years ,.,.o,.,.s
anywhere In fact. within the five-cent
streetcar fare limit. such cottage as
would rent for $50 month-one havIhs
four rooms. hall and front and back
verandahs-can be bought for S,10O TO
S. 800, with the payment Of minimum OF
500 cash. and sl2 so a month and interest
In the western the growing part OF
the city, between Dauphin ana Govern.
ment and Houston and Ann streets, Iots
with 80 feet frontage and $50 feet depth.
Mr.. Butler says. are worth from 80 10 80
y front foot. While IN the same TERRI
range in value from $40 to $50, and those
ON Dauphin from $50 to 500 front foot.
lie is firm in the belief that in less than
three years their unearned increment VIII
be at least g per cent.
In Undeveoped Areas
Mr. Mechem says that I'm Mobiles
western outlying districts there are two
thousand to three thousand acres, raw
ard uudeveloped, and ranging in value
from $50 to $1,000; they are contiguous 10
street cars If developed and marketed
GRADUALLY the return would be ten TO one.
He says Spring Hill acreage is valued
at sl,Vp with fifth feet frontage on car
lines. away from the latter az ply 10
500 South of Spring Hill. the highlands.
back 20 MIX House Branch, is worth 20
TO SlOo an acre. He adds, This will be
the most fashionable section of Mobile at
40 distant day.
Retail Business March.
Mr.. Burgett believes business property
20 be the best investment here, particu-
,arly for retail, which will spread south
ON Royal TO Government and up the lat
Ter to jackson street. He mentions, how
Sver, bargain on the northeast corner
of Franklin and ST Louis streets, nve
,yninutes' walk from the Postoifice. six
teen room residence. which is insured loI
49, 900 and rents for $500 at present ano
can be had at s., go: and another, three
STORY brick store, with river and ran, the
LOUISVILLE x Nashville. near. at $3.50
An attractive farm land investment
mentioned by him, Is an eighty acre plot.
six miles from the Court house, ana lylhs
along a new turnpike already under con-
tract Ii has u nice seven room house
,and two large barns. unNaldlsm ioIces
ithe aged owner to part with 10 Inc
!honse has water. baths and sanitary con-
INJECTIONS: the farm, the soil of which has
been well cared for. has fruit. grapes. an
eviary. poultry, fancy pigeons and large
this. Including furniture, farm imple-
lJnents horse, wagon, harness. etc, can
be had at $4,000. although at least 5000
has been expended TO make II a model
dead level with Spring Hill. TO the north
OF which II ies-a mile ana quarter
from the car line.
Rebuild Business Section.
MIR. Espalla believes "The opportunities
for investment In realty here are much
better than elsewhere. for the reason
that property can be had at prices that
will net. Business per cent ana resi-
dence 8 per cent 10 ~ per cent interest
per annum." lie advances. what at nrst
strikes one as "A rather startling proposi-
ton but which upon investigation is seen
10 be as sensible as It's sound II is tnat
'.The whole OF Mobiles business section
should. DE rebuilt and as PROOF posi-
tive that il would pay those suificiently
enternrlsine and ''well heeled" to under
take the task. he ayers that Mobile
only skyscieper nets - per cent on the
Investment" He thinks Business prop
erty is the cheapest class OF realty mere
because the buildings are not modern, ana
do not bring the rentals to when theiT
locations. II properly improved, would
Ina support Of his statement as to the
chcapness OF property. generally, ne says.
Prom Royal street and the Court House
lthis is located at the corner OF south
Royal and Government streets) going
west to Hamilton. some seven blocks
away, prices range from 700 10 wv
while on Dauphin Way piots tsome OF
them 42e feet deep can be had at 500 a
front foot"
Tracts IN the suburbs within two and
q half TO FIVE miles of the Court House,
IN the billy sectlons-such as SprinS I'LL
and Cottage Hill-can be mad at frorl 800
20 500 an acre" While he Believes Prop
erty values (river 'front.' on the lands or
the east bank of Mobile River Will In
crease greatly and swiftly in value" he
says. locations can still be had at S25 TO
$40 a front foot"
They Are "Pick- ps."
Major Giennon's announcement on
realty values is something few, II any,
would have the hardihood TO dispute
Therefore, his statement that There are
! fifty pieces of property IN the business
~ost ~ improvements on them" SHOULD