The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-08-30

\ ,r,.,n AZ the beginning OF the conflict
n ,.nd" That IL, there has been neither
r,nr,ycment nor loss. In ordinary
IVA, such business as "a being done in
,he real estate market would be con-
.,dered quite satisfactory for this sea-
90, " the year. In fact the only place
whore Tho war has any appreciable eff
! ,s,, IL IN the building loan branch. for
n ,bare activity, which was low a month
, an has now almost ceased. Compared
WIN one year eao the real estate mar
IA. shows l,ttle change. Transfers and
mortgages recorded and the amount of
money loaned on mortgage during the
last month just about balance with
numbers and amounts OF last August.
| Real estate owners undoubtedly have
been inspired by the reassuring words
uttered by the heads Of the larger lend
!or INSTITUTIONS when the European war
began. for there has been no greater
effort made 10 turn real estate equities
and mortgages into cash than has been
,sen during the last year. The state
msnt " the tile companies that they
saw no reason for calling overdue mort
gases while taxes and interest were paid
seems 20 have had the effect OF sitting
IN. fears " all mortgage lenders. for
they were before the start OF the inter
national conflict.
II "a from the records ~ real estate
Transactions that the true condition ~
the local market can be learned That
the war has had no grea. effect here Ia
evidenced by the fact that during the
present month there were asa convoy
arces recorded against 4O7 during last
10
rsFes we're recorded for total Of ST.
02oT37 az against 267 last August for a
total Of s5.sl5.e32.
r the war had had any appreciate
eject N local real estate II would have
Naen shown In one or two ways. Had
'OCai investors taken a gloomy view Of
he situation there would have been
.ors'd rthln Liquidation IN evidence.
which, would have been reflected in the
.0ryeyanres Reports have been heard
D '." effect that many importing firms
.,rIi.HE large and costly space in
TOSS mercantile districts are in strait
cod .'~rIms'lucos and that the con-
.rratnn " the war for an extended
rnd VII result in their being forced
10 ..., thoir establishments hut so
ar seat estate has not been affected
1901. failures due to the war. In
.f't. '...c who take a broad view OF
.'. situation take no fear from this
.1.r.". for while they. with others, look
.s #"W" vacancies in important sec
'-U- luo u a suspension OF activity on
10 part ~ certain firms dealing ex-
.'NsvcIE In goods which cannot now be
imported they look not only for equaliz-
NC gains but for substantial advances
20 the demand for space from firms
which Will now engage in foreign trade
Already IN the reports OF interpretations
from Albany evidence Is seen OF &C.
! ty!ty on the part OF Americans in the
markets which Europe formerly con.
'rolled. which now are being thrown
open 10 American made goods. New
York Is the natural place for these
Arms 70 locate, and they Will demand
space IN office and loft buildings A,
he war continues increased demand fol
such space IL looked for. so that any
losses which building owners may sus
tain through the cancellation OF presen
ieases Is likely 10 he more than Offset
THIS view taken by owners Of bust
nsss properties IL perhaps the reason
why there has been no attempt durinl
the last month to turn equities int
cash. Further evidence that those whC
control the money used In real estat,
operations take an optimistic view n
thu situation Is taken from the stead,
supply OF cash for permanent mort
gages. That supply has not been yer,
large during tho last year or SO
and that In n time like this II SHOULD
continue steady and even little #
excess OF last year Is taken az al
Indication that lenders are perfect
mall .g,A. .t,l
York city and It's real estate. Rate
on loans continue to be about IN
same ms for the last year, and a numbe
~ mortgage brokers are advertising tn
fact that they have large sums whc
they can place, some Of II at les
than 3 per cent. Some OF those VIII
have been interviewed say that II
easier 10 get money than It is 70 &c
applications for loans
That tho war has not yet produce
apparent hctterment in the local res
estate market is also demonstrated b
'hA same records for the last monti
= investors were as optimistic ahou
no future as to believe that tho Wa
Is going 10 make New York the suprcm
financial and commercial city the
would ikcv have by this time formc
pans f0r investing IN real estate an
som" - their activities would be note
IH"ro would also he an easing Of III
" rt-ara market and a greater voluw
~ loans rs yet nothing like this is
10 seen
" must he remembered, however thi
- hrr'nutrr ~ the war found the loo;
'f' r''H'" market NJ the season of Il
.'... activity. "A time when most me
..' sven over figuring equities an
'..t'." profits for lighter occupation
T'" Nrr came on 30 suddenly. too, thi
'..'o hats been little time in which
.' ''n %" what effect the conflict won
...' ..1l'v and in what partiCuli
.tr'.r7 hat effect would he fel
N "."' such a shock as the war produce
~ ".' would naturally proceed slowly
Az "n.'monts Of large amounts Of ca
lbN '' and for that very reason the COZ
N '''i9.n = no real estate market alor
r"rua' lnos IL one ~ tho hest indlci
IL Tons 'Nl' New Workers are satish,
VII '0.r city and It's greatest assC
's ro1' estate.
During tho next month or So dennl
results - the effect OF tho war n