New-York tribune., 1913-05-25
Will Begin Next Saturday in
Clubhouse of Former
Westchester Racing
Association.

ys,t Saturday will begin the auction
ii. by authority OF the New York
n,,k,ng Department. OF the 30l9 lots
..r,nrising the famous Morris Park race
,....t property. The sale will take place
:, the premises in the former clubhouse
!, .hs Westchester Racing Association,
~. ground floor Of which has been con-
.-,sd into an immense salesroom. Prob
.,v never has a sale been held under
~,o,e advantageous surroundings The
IA clubhouse ballroom, with many en-
,,-.nces and exits. will accommodate COM
,,-,ably al least 1900 persons.
some idea OF what the sale of 3,ols sep
.,s,e parcels of real estate means may
\. had from a comparison with other
,.,ss LOT sales of recent years. The Van
c,,,,andt estate sale of ZIG lots just
v.ar ago took up the better part Of two
I.rs When Joseph p. Day sold the 46S
,o,s IN the orster-Schmitt property op-
,,,,,s Van Cortlandt Park one day last
yovsrber. beginning at II a. m. and TAX
,,s the last bid at 11:2O p. m. a new
..cord for continuous selling was estab-
T.hsd AZ the rate of 800 lots a day the
Norris Park sale will consume ten entire
days.
7, is those who are most familiar with
these facts who are persistently asking
,hs ouestion: Where are the buyers COM
,-v from for these S,Ol9 lots? If a single
a.y's sale OF over 800 lots has been looked
,ro, as remarkable and has in many In
,,anees dwindled down TO the bargain
What &c bp the
,.snlt Of ten successive days selling? IL
.ue,Ioneers have been fearful, heretofore
shou, having two sales OF 800 or 900 lots
cone too close together. that Is, within
,vo or three weeks of each other what
&c N be the outcome OF ten 30Nlot sales
he'd one after the other?
These questions are worrying the real
estate market wiseacres a good deal more
han they are the State Banking Depart
ment or j. Clarence Davies and Joseph
p Day who are looking after the details
Of the Morris Park event. The Banking
Department officials and the attorneys
,or the Carnegie Trust Company and the
Northern Bank recognize the possibilities
Of the situation and have apparently felt
that they we're well within the bounds
a, conservatism in announcing this sale
az an opportunity TO make money
Nessrs Day and Davies say that their
interest In the sale begins and ends with
carving out the Banking Department
Instructions TO sell he S,ol9 lots to the
highest bidder. regardless of what prices
they may bring.
.sIf the whole history Of real estate auc-
tion selling is any sort OF a guide' salu
Nessrs Day and Davies yesterday
sale OF more than 5000 lots cannot pro-
eress very far without developing a low
range Of prices. and The Bronx Is con-
timing it's phenomenal growth more rap
idly each year. Buying right In re-
zion Of advancing values tells the "hole
story Of successful real estate speculation
in the past. and the circumstances uhusI
which Morris Park is TO be sold. as well
ss the location Of the property. fulhl ooth
Of these conditions.
Vice-President Hedley OF the INTERIOR
o,rb exnects that the extension OF the
,,bwav I'D White Plains avenue, within
four short blocks Of the westerly oouilu-
arv of Morris Park, will be one Oh 'he
first Of ihe new sections OF the dual SUD
vay svs,em to be placed in operation
The Interborough engineers estimate 'iis
line can be completed in two years anu
that the southerly portions Of It may De
ready for trains in less time Ihe thiro
tracking of the East side elevated hnes'
connecting with the Westchester & bosto.
at 129th street. will bring Morris farN
within from thirty to thirty-hve minutes
o, the CITY Hall by way OF the lhiro
Avenue Elevated. 1t is now within TWEEN
,v.nire minutes Of 42d street. Routes al
ready in operation or about 10 oe , ouiI'
will give 10 the zone between Bronx arr a..