New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-01

TO features whose sharpness was accentu-
ated by Nandyke beard.
Yet. with all his calmness OF demeanor
this man was keenly alive TO all that
was going on. lie could not hear with his
ears. but his eyes and his knowledge OF
the index expression gives 10 the thoughts
that are uppeTmost I'm the mind gave him
information far more accurate than that
which mere words conveyed TO many or
the listeners. lie not only saw the hands
of bidders raised before men on the floor
detailed TO watch for them saw them; he
sensed bids about 10 DO made before they
were made and directed the auctioneers
attention 10 the man or woman about to
bid.
At intervals lie would speak quietly TO
the auctionecr and what he said showed
that he know how the sale was going;
that he had some form OF telepathic COM
munication with the minds of those
around him. His eyes scanned the map of
the land plot and at the psychological
moment he would advise leaving one sec
ton for another or suggest some argu-
ment which would persuade a hesitating
bidder 10 go higher than his opponent
Behind his serenity his brain was work
ing at lightning speed.
This man was J. Clarence Davies.
Ground value or market value"-the
same thing, he holds-"is what a willing
seller will sell for and what a willing
buyer will pay. / don't mean an eager
seller or an eager buyer. Eagerness gen
orally means that the seller wants to sell
for a certain purpose or that the buyer
wants a certain piece of property for a
certain purpose in which case the value
is above or below what it would be if the
seller were merely willing 10 sell and the
, buyer merely willing TO buy.
THE whole trouble with New York real
estate is that too much OF 1t is handled
by amateurs. who do not know how TO
produce the best results. Professionals
get profits, where amateurs get nothing
but losses. Look at the splendid real
estate investments obtained by oper-
atores like the American Real Estat.
Company, Henry Morgenthau, Robert f.
Simon, Walter j. Solomon. George F..
johnson & Sons the late Benjamin Alt
man. the Herald Square Realty Company.
y iNN'i IN Joiho'hf ii'HiN HlppS ana
Robert Goelet. | was "A member OF a
committee which recently appraised the
properties of the American Real Estate
Company, and ii was one OF the most
unusual appraisals in which have had
n share. Instead OF taking the word of
one or two experts. this company engaged
the services OF a committee of the most
highly rated appraisers In the city. This
committee inspected the various prop
critics Of the company and then held sew
eraI meetings TO fX values. Tho figures
finally decided on represented consensus
of opinion. And then, to outconserve con-
servatism, the company marked these
figures down a bit.
"Thc appraisal Of these properties
brought out soma interesting facts regard
Ing Tn. trend of values. where tho utmost
efficiency Of management is combined
with the utmost economy In operation.
and the expert knowledge I have already
spoken Of in buying, in various parts or
the city.
"The judgment OF the professional. as
opposed TO that OF the amateur. has been
amply demonstrated In Tho Bronx by
the Henry Morgenthau Company. the
Company
Johnsons aud the American Real Estate