164





The Real Estate Recorix





February 25,1882





passer-by. In the eye of the French law it
is the police who are to blame if coal holes
are left open and areas unguarded. Then
careless and wasteful Americans who rent
suites of rooms furnished, are very much as¬
tonished when they leave their apartments
to find that they are responsible for the dam¬
age done to the furniture. Every sou is
charged up against them. If the carpets are
permanently ruined, or tJie fui-niture broken,
or the walls scratched, the tenants who were
privy to the mischief Jiave to pay roundly
for their carelessness. We all know how
different it is inNsw York. Here the tenant
is tempted in every way to be careless, for
the landlord knows that the court is not his
friend but his enemy, and that there is no
redress for the destruction of his property.
Any drunkard here can bring an action for
damages if he slips and is injured in front of
a house. The only remedy the householder
has is to get all he can for his property in
the way of rent, and insure himself against
all possible losses. Certainly eleven out of
every twelve jurors belong to the house
renting class, and cannot be depended upon
to do justice to the owners of the property
to which they pay tribute. If we want ren¬
tals to assimilate to those of Paris and Lon¬
don, we must treat property holders with
more justice.





This being a short week, one day being
out, the conveyances show a falling off as
compared with last week, but the mort¬
gages are a trifle heavier. The annexed dis¬
trict shows exceptional activity, both in the
number of transactions and in the amounts
involved. The park question has doubtless
led to investments in the Twenty-third and
Twenty-fourth Wards.





Week

end

ing.

Jan.

11

18

25

Feb.

1

8

15

22





N.Y.   Am't     No.     No. 23d      Am't      No.
City        in-    Nom-    & 24th         in-        nom-

Cons.   volved   inal    Wards,     volved.     inal.





237     4,256.853     52

143     2,345.927     .38

161     3,007,041     37

219     3,343.055     52

199     2.29:2,092     70

15^     2,037,493     40

140     1,731645     64





Week Morfc-
end- gag¬
ing,     es.





Jan.

11

18

25

Feb.

1

8

15

22





229
219

182

196
206
134
141





Am't.       No.

in-     Five

volved. per ct.

S

2,367,601     58

1,872.061     26

1,836,577     40

1,79,5,680     62

1,616.509     48

1,196,196     38

1,281,722     29





25           57,444           2

30           86,811         14

19           36,610          4

24           54,207           8

12            7,600           5

6           12,990           1

22         147,349          6

Am't.     No. to   Am't
in-        T. &         in¬
volved   Ins Cos. volvei.

(C                                                          fit

707.650        38   788,700

260;587         57   698,300

753,900        40   649,000

784,286         41   522,250

483.400        39   434,5 0

507.150         13   282,00t1

229,500        35   587,500





MINING INFORMATION.

Mr. Daniel Cook is authority for the state¬
ment that when he, Colonel John F. Boyd and
William Irwin, examined the Standard mine
last June, it had at least four years' dividends in
sight. The Standard has got possession of many
claims to the eastward, as its owners believe
that the veins] run as they do in the Comstock,
far to the east of the present workings. Mr.
Cook further says that while there is no pay ore
so far as known in the Bulwer, the company can
pay ten cents a share dividends for two years
upon the returns of the mill, that is if no acci¬
dents intervene. He is inclined to belive that the
Comstock is played out.

There are said to be excellent reports from the
Alta Montana. Professor Blake, it is said, has
examiined the property and speaks well of it.
Professor Raymond in the Mining Journal en¬
dorses a report on the Alice mine of Montana,
which makes great pretensions.

The mining market was strong during the
early part of the week, but the intervening
holiday affected prices. There has been rain
enough on the Pacific coast to furnish a good





deal of water for the various mills which were idle
for want of it. The Calaveras Milling and
Mining Company have now enough water to
keep it at work till far in the summer. The
stock has been more active and higher priced
lately.





Some curious figures are given in foreclosure
sales. In the proper department of this paper
will be found announced the sale of property on
l3nioa avenue, north side, 300 northwest Hoffman
street, 50x100, where a mortgage of $116.67 was
foreclosed, the legal expenses and the auctioneer's
fees of which will amount to $150. The lawyers,
in this case at least, were a heavier lien on the
property than the mortgage.

---------------------------< •-►---------------------------

The revelation made in a city paper last week
respecting the cost of winding up insolvent in¬
surance companies were startling. They show
that the receivers and the lawyers managed to
eat up nearly all the assets. There will be a re
volt of the community some day against the in¬
tolerable burden imposed on property by lawyer
legislators. The worst feature of this matter is
that judges are tempted to use their positions in
a way to add to their own ^ains, for it is absurd
to suppose that they would keep on reappointing
the same ring of lawyers, who profit so immense¬
ly by this legal plundering, af they did not in
some way benefit themselves.





OUT AMONG THE BUILDEIIS.

C. W. Romeyn is preparing plans for a three story
brick, stone and terra cotta stable for H. S. Ladew,
Esq., to be erected on Sixty-ninth street, west of
Third avenue; cost, S12,000.

The same architect is preparing plans for altera¬
tions on the bui ding, owned and occupied by J. B.
Hoyt & Co., at Forty-third street and the Easfc River.
The alterations will cost 83,000.

The brick building afc fche northwest comer of
Greenwich and Beach streets is to be altered into a
flat house. Architect, F. W. Klempt. Owner, Wm.
Group.

A flat house with store will be built on the very
irregular piece of property known as Nos. 39 and 41
Rose street, 51.1x13 and 15.6. Architect, Wm. E. War¬
ing.   Henry Ketelas, owner.

J. Morgan Slade is at work on the plans for a first-
class six-story brick and stone front store building fco be
erected by Mr. R. T. Wilson on the property recently
purchased by him at Nos. 384 and 386 Broadway, 43.6x
176, and for which he paid $210,000. This building
will be plastered to the top story, and contain, in
addition to a passenger elevator in the front of the
building, a freight elevator ia the rear, together with
all the latest improvements.

Mr. Fenfcon proposes to erect two four-story hrown
stone flat houses on the north side of One Hundred
and Thirtieth street, 300 west of Sixth avenue.

Mr. Treacy will erect four three-story brown stone
residences on the plot of ground just purchased by
him on the north side of One Hundred and Twenty-
ninth street, 350 west of Seventh avenue. The cost of
this improvement will be about $35,000.

A company is forming for the erection of the hand¬
somest apartment house ever built in this country, on
the southeast corner of Fifth avenue and Twenty-
eighth street, on the premises known as the Knicker-
hocker Club property, and the three adjoining brown
stone houses, about 100 feet on the avenue and 125
feet on the street. It is proposed to issue bonds to
the amount of $500,000, at 5 per cent. This apartment
house will be thoroughly fireproof, and cost, including
the price paid for the property, $1,000,000. Messrs.
Hubert, Pirrson & Co. are to draw the plans for the
structure.

Governor Stanford, of California, proposes buying
an extensive plot of ground in this city, and erecting
thereon a magniQcent private residence.

The Dock Commissioners, at No. 117 Duane street,

will receive up to March 8, at noon, sealed proposals

for estimates for repairing pier 15, East River, and

its hulkhead and return.   Said pier is near the foot

of Wall street.

----------------«-«->

Proposals will be received at the oflice of the super

vising architect, Washington, until 12 m., March 1.3th

188J, for all the joiners' work  and wood flooring

required for the U. S. Barge office in New York.





The Aldermen passed a resolution requesting the
Commissioners of the Department of Public Parks to
repoi-t to them, at their next meeting, why Mott
avenue, from One Hundred and Thirty-eighth street,
to the bridge over the railroad near One Hundred
and Fifty-second street, had not been paved with
Macadam pavement.

----------------«-»->----------------

The Sinking Fund Commissioners will sell on March

14, at the Exchange Salesroom, four lots, situate on

the north side of Sixty-first street and Ninth avenue.

These lots are 100 feet front and rear, and 100.S feet

deep.

-----------------♦-•-♦-----------------

Commissioner Thompson invites all person who ob¬
ject to changing the grade of Seventy-ninth street,
between Fourth and Madison avenues, to state their
objections to him in writing, on or before March 3,
1882. The map, showing the present and proposed
grades, can be seen at 31 Chambers street, room 7.

--------i.im.     «>■>--------------------

The Commissioners of Estimate and Assessment
will present their report relative to the opening of
Seventy-fourth street;, from Eighth avenue to the
Hudson River, to the Supreme Court, on March 28,
1882, and move that the said report be confirmed.





MARKET REVIEW.





On March 10, at 11 o'clock, the Comptroller will sell
at his office twenty-four parcels of land in the Twelfth
Ward, hoimded by Second and Third avenues, and
Ninety-eighth and Ninety-ninth streets.





REAL ESTATE.
^P~ For list oflotft and Iiouaes for sale
Siee pages II, iii and v oi advertiftenientK.

Last Thursday presented a curious phenomenon.
In the stock market all was confusion, margins were
being gobbled up, and operators for the long account
sold out. One stock, Richmond & Danville, fell 89
points. Nearly 700,000 shares were sold in a market,
the average of which has been not much mere than
250,000. Yet, while the Stock Exchange was in a state
of semi-panic shortly after noon, the Real Estate Ex¬
change was full of bidders offering exceptionally high
prices for real property. All the sales were considered
as good, the business property as usual scoring the
best advances. The flve-story hrown stone store, 61.1
xlOO. in the rear of the St. Nicholas Hotel, sold for
$131,750, which shows the repute of that once ill-famed
street for future husiness purposes. Some Bowery
property sold very well indeed, but the surprise of the
day was in the very handsome prices brought by
West Side property. The twenty lots on Ninth avenue.
Sixty-eighth and Sixty-ninth streets, were eagerly bid
for. The northeast corner of Sixty-eighth street and
Ninth avenue brought $9,100. while the lots on the
streets east of Ninth avenue brought from $7,100 to
$7,300 each. Auctioneer Harnett, who sold the above
properties, must have been satisfied with his day's
work, for he is a believer in down-town business prop¬
erty as well as West Side unimproved lots. The pur¬
chasers of the vacant lots are among the shrewdest
real estate operators in the city. They are satisfied,
apparently, that their purchases are on the line of al¬
most immediate improvement, and that there is no
reason why lots west of the Central Park should sell
for so low a flgure compared with those east of the
Central Park. Ninth avenue promises to be a business
thoroughfare, and the sale of Thursday shows that
experienced builders are not afraid of an elevated
road running in front of business property. Sales
during the week were generally good, yet still there
was plenty of property sold which will pay a good in¬
terest. A house, for instance, on Thirteenth street
which rents for $1,600, sold for $14,200. There may be
a gloom thrown over the real estate market by the
semi-panic in the other markets, but this is au excel¬
lent time to buy, for after all the country is in full
business activity, and now that the speculation is over
in stocks, grain and cotton, we may naturally expect
that real estate will come in for its share of specula¬
tive attention.

Adrian |H. Muller irill sell on Thursday, March 2,
what remains of the estate of Adon Smith, deceased
It comprises property on First and Third avenues,
and East Tenth and East Fourteenth streets; also,
fifteen lots on Eighth, New avenues and One Hundred
and Sixteenth street. One Hundred and Sixteenth
street is a wide street, six blocks from the Central Park,
and just under Morningside Park,which will in time be
one of the most attractive in the city. One feature
of the sale of Ninth avenue lots served to help the
price; sixty per cent, of the purchase money was al¬
lowed to remain on bond and mortgage for thtee
years at five per cent. The One Hundred and Six¬
teenth street property, by the way, mentioned above,
may be said to be in the line of improvement, for the
builders who are improving the region above One
Hundred and Twenty-fifth street are considering to
erect structures below One Hundred and Twenty-
fourth street.
On ^Thursday, March 2, Adrian H. Muller will sel