The Bridgeport times and evening farmer., 1920-11-27

Stone Company, who bought in 237, 239, 317, 319, 327 and 329 Willow avenue at $3,500 for each suite. Four of the suites have eight rooms and two of them have seven. Te
 One of the interesting sales made early in the evening was that of two six-family brick apartments with five rooms to each suite and all improve mentS. The successful bidder secured these properties for $11,700 each, the original cost being $17,900 each. and the present estimated value over S30,- O0G: Here was an object lesson of what America. offers to the thrifty. The buyer came nere six years ago from P.ussiat tQ ply his trade without a. dollar Of capital, according to MT. Days announcement, and his invest meEt last night represented only. a part of his savings. The buyer was accompanied by his wife, an anirnat- ed young woman who watched the sale With shrewd and appraising whose smile rival1ed those of his parents when the coveted property was knocked down to them-
 The first properties placed on sale were two family brick houses on Do- yer street, the first unit, a corner house, going for S4.10O. The next sale was at s3,90O. and the balance were picked up at $3,600 and $3,500. The first house on Remington street, a single-family brick. of six rooms went for $3,10O, and many of the houses in this class went for as low as s2,600. Single. family six-room frame houses at Dover street, next went like hot cakes, at $2,700 to $2,- 900s, original cost of these houses being $4233- The first choice of single family six room houses on Dover street went for s3,1o0, and many of these prop critics went for S2,600. The origin al cost was s4,668. @... l Bungalows on Pa1isade place, Pati- sade avenue and Harvey street, ereota ed at a, cost of s3.0O0. went for. $1,- | 700 to s2,10O. It was close to II o'clock when the ] first properties on East avenue and Willow street were put up, and by , this time the curiosity seekers had | left the field open to those who were on hand for business. Spirited bid | ding by tenants and investors marked ] the sale of these choice houses, yet all were sold at bargain prices. These were mostly two-and-a-half story brick dwellings, with two suites to each of six, seven or eight rooms. These choice dwellings went off at an average price of $3,500 per. suite, or s7,000, for a property off, twelve to | sixteen rooms, as compared with a pre-war cost to erect each suite, of | $4,750. The speed at which the sale. went was due to the efficiency Of the Day system. Each prospective bidder is | a Il scriptive list, from which it is chi1d's | play to follow the auctioneer. UShers distinguished by white carnations 1 throng the aisles and when it. is de- | sired to make a bid all that is neceS- sary is to signal the usher. who an nounces the bid to the auctioneer in stentorian tones- When the house | is knocked down the usher who re-
 layed the successful bid, signals to*fa clerk who comes down to the pur- | chaser provided with receipt forms, | blank checks, fountain pen and other paraphernalia and secures ten. per auc ioneer's fee. All that then re-
 mains for the purchaser to do is to go to a desk and sign the agreement
 of sale. .
 The gathering was called to order | promptly. et T:45, but the reading of
 the terms Of sale took until SIS, and encouragement of the stand and
 other prelipinaries, together with a
 speech by Mr Day in explanation, .consJmed the time until s:45, so the
 remarkable feat Of selling over a haE a milHon doiars worth of prop
 erty was performed in two hours and 1 n half. MT. Day annou ucing that
 S533, 900 had been .sotd at that hour.
 In the course Of his remarks Nr
 Day drew attention to costs of ma
 terial used in the houses when erect
 ed, and the cost of comparable ma-
 te-ial today. together with the vast : of erection. On this basis compe-
 tent observers present estimated '. it
 would cost twice as much to build the
 houses today. The sales being at two
 thirds erection cost were made
 roughly at one-third present value,
 Towards the latter part of the sale
 the conditions reminded many of
 those present of the oldtime six-day
 races at Madison Square Garden, prospective buyers coming and going , and the crowds thinning out as the
 midnight hour approached.
 The most amusing feature of the
 sale was the expert manner in which
 MT Day squelched a well known local character named Steinlauf when : the latter indulged in what MT. Day l characterized as f'piker bids"