Real  Estate   Record





AND BUILDERS' GUIDE.





r.4





Vol. XXIV.





NEW YORK, SATURDAY, JULY 26, 1879.





No. 5t3





Publislied Weekly by

Cbc Seal (Estate Serorb l^ssodatmii.

TERMS.
ONE YEAR, in advance....SIO.OO.
Communications should be addres.sed to

C.   W.   SWEET,

Nos. :145 AND 347 Broadwav





LEGAL DECISIONS.

CITY—WHEN ESTOPPED KHOM  DENYING CO.VTRACT
BV  KEASO.N OF MEUE IKKEGULARITY.

The Court of Appeals has decided the following
case. An action was brought again.st the city
for work, labor and services and materials fur¬
nished, under a contract. Tbo defence among
other things, claimed that the resolution, author¬
izing tbe improvement was not published iu all
the newspapers shown to be emploj'ed by the
corporation as was rei[ttired b3' law. The Court
in its opinion say: " Individiuils dealing with
municipal authorities may, without incurring
extra hazard, assume that the acts of the general
governing body within their general powers,
which are published, repre.sented, and held out
as valid, with invitations to individuals to enter
into engagements and e.xpend monej' and labor
on the faith of them, are in fact as represented,
and to deal upon the faith of such assumption,
aud the corporation having received the fruits of
engagements entered into on the faith of such
repre-sentations should be estopped from alleging
a mere irregularity to avoid them. * * * It is not
allowable for a yiunicipal corjjoration to perpe¬
trate a fraud upon those contracting with it upon
the faith of its laws and ordinances apparently
valid and represented as such, by repudiating
them upon the allegation of some technical and
formal irregularity in their adoption, an omission
of some collateral act, some formality prescribed
by statute, not of the substance of the power or
jurisdictional in its character."

E.N'DORSEME.N'T OK PROMI.SSORY .VOTE BY MARRIED
■WO.MEN.

The same Court (of Appeals) has decided that
where a married woman endorses the note of her
husband, as follows, " I herobj' charge my separ¬
ate and personal estate for the payment of the
within note," and the note so endorsed is delivered
to a national bank, the endorsement is not a
mortgage in any sense, and does not con¬
flict with the national banking act, which pro¬
hibits a national bank fi'om taking a mortgage on
real estate to secure a loan made on the faith
thereof. The endorsement did not have the effect
of conveying any property, or of giving any
specific or general lien upon any property, but
merely created against the married woman a lia¬
bility which could be enforced as if she were a
feme sole.





CHATTEL   MORTGAGE—HOW   PROPERTY .TO   BE
SOLD.

The Supreme Court of Minnesota has decided
the following;                                                           •»

Where a mortgagee of chattels forecloses under
a power of sale contained in the mortgage, he
stands?, with respect to the mortgagor's right in
th*» property, in the position of a trustee, and is
held to the exercise of good faith and proper care
and diligence to avoid any sacrifice of those rights
not necessary to the reasonable enforcement of
his own.

Although the mortgage covers! much more
property than is necessary to his security, ho may,
under his mortgage for his security, take posses¬
sion of the whole; but if, without prejudice or
great inconvenience to himsebf, he can satisfy his
debt by a sale of part, he is, if the interests of
the mortgagor requires it, bound so to sell. If he
unnecessarily sells the whole of the mortgaged
property, he is liable to the mortgagor for the





damages sustained by him through such oppres¬
sive use of the power of sale.





LANDLORD AND  TENANT—WHAT  NOT .SUFFICIENT
TO   CONSTITUTE SURUKNDER.

In an action for rent, under a lease, tbe tenant
alleged that he had removed before the end of tbe
term, and that tbe landlord thereupon took pos¬
session of the premises, made certain repairs, and
built a new bath room, a new poi-cb, new range,
and certain other repairs which could not have
been made while the house was occupied by a
tenant, and the landlord also advertised the house
to rent. Held, by the Supreme Court of Penn¬
sylvania that all these acts were done in the in¬
terest and for the benefit of the tenant, nnd do
not discharge him from his covenant to pay rent.





MARKET RKVIKW.





HEAL ESTATE MARKET.
At the Exfdiange Salesroom, transactions during
the week have been few in number and unimportant
in character. For the coming week, thirteen fore¬
closure sales are aimoimced, which is the smallest
number it has been our duty to report for some years-
The following private sales have been made:

S9ih St. n s, 1'2."> w 8lh tiv, TMxim................   §0 0("0

92d St. n s. 275 w 9th av, U0.v:i01.5 to 'J'kl st (8

lots)......................................   24.000

101st st, s s, 55 w New av, SO.xlOO ..............      3,600

Since our last report a large number of important
assessment lists have been received for collection in
the Bureau of Assessments, and also assessment lists
which have been received by the Board of Assessors
from the Commissioner of Pnblic Works, details of
which will be found in our columns.

Nineteen plans, embracing twenty-eight buildings,
cost SS13.97i;, have been filed with the Superintendent
of Buildings. Among the plans filed is one for the
erection of tbe Union League Club House. 84x165, on
the northeast corner of Fifth avenue and Thirty-ninth
street, cost §350.000. At No. 8 East Fourteenth
street, a five-stoiy iron store will be erected, cost
$15,000; and on the west side of Lexington avenue,
between (Jne Hundred and Fifth and One Hundred
and Sixth streets, the City of New York will erect a
four-story brick school, cost S53.fr32.

The following are the sales at tbe Exchange Sales
room for the week ending July 25:

'Indicates that the propeHy described has been bid
in for plainlijf's account:

•Boulevard, e s. 76.8 n Slst st. 23.6.v91.3. to

Eliza M. Bailey.   (Amount due, abt S8.000)   §8,000

•Jacob st, s w cor Cambreling av, 50x100. to

Charles Welde.   (Amount due. abt §900)..        "250

•Milton st, s s, 100 w Washitiglon av, 50x100. to
James F. Thomas. (Amount due, abt
Sl,8'.»)...................................      1,400

•19th st s w s. 264.9 n w 3d av. 2-3.6x9-2. to W.

R. Clarkson.    (Am't due. abt S5.300)......     3,350

*46th St. n s. 180 e sth av, 20x100.5; leased May
], 1871, term 20 years, ground rent Sl.2t;0
per annum, to Peter Goelet. (Amount due
abt §13.100).................................      6.900

♦SOth St. s s. 158.10 w Broadway, 20x100. to
Maria Stammers (extrx.) (Amount due,
abt§8.100) ................................      9,750

♦54th st s .s, 20 w 4th av, 20x60.5; leased Slay 1,
1871, term 20 years, ground rent §500 per
annum, to Robert Goelet. (Amount due,
abt§6,]00).................................     3,500

*57th st s s. 137.6 e Lexington av. 18.9x100 5.
to Clarence Warden. (Amount due, abt
$11,1(0)....... ............................      9,200

74th st (No. 26). s s. 34.6 w Madison av, four-
story brick (stone front) dweU'g. 20x80. to
Judge Matthews.   (Amt due. abt S'.J7.400)..    16,750

74th st (No. 48). s s, 260 e Madison av, four story
brick (stone front) dwell'g, 20x102.2, to C.
Berringer.   (Amount due, abt g^iJ.OOO).....    11.350

♦Slst St. s s. 85 e Madison av, 16x76.7. to New

York Life Ins. Co.   (Amt due. abt §10,500).    10,000

♦Slst St. s 8. 133 e Madison av. 48xl0:;.2. to New-
York Life Ins. Co.   (Amt due. abt §31,500).    33,000

SSth st n s. 96,8 w 9th av. vacant 25.1x100.10. to

J. L. Hasbrouck.   (Amt due, abt §2,500)...     2,705





lOSth st (No. '^C-^'), s s. 75 e 3d av, four-story

briek tenem't. -^"5x88.6. to D. M. Shttw......      4.198

l-25th St. s w cor Oth av, vacant, 100x100.11. to

J.R.Brown. (Amount; due, abt §8.200) ...    2-3,000

*I45th St. n s. -i-Jr) w Av. St. Nicholas. -WxTO.ll,

to John B. Miller.   (Amt due. abt §^,050)..      3.000

♦Itailroad av. e s (lot No. :)7 on the Abraham
Bassford map of Fordham), .'>0xl50. lo Me¬
chanics' .i Traders' National Bank. (Amt
due. abt §90(1).............................        675

♦Sherman av. centre line, 600 s w centre iine
Boulevard or Dvckmanst, 100x400, lo Mary
E. U. Schmidt (extrx.) (.\mount due. abt
§3.:550)..................................      1,7:19

*Wn,shington av, w s, 119.6 n 1st st, 7.5x150. to
(Uiarlotte E. Gillespie. (Amount due, abt
§5,650)...................................        500

♦3d av. easterly cor ISiith st. runs southeast
195.9 to Brook av—x northeast '294 x north¬
west 86.2 to 3d av—X southwest 219, to
Manhattan Life Ins. Co...................    22,500

10th av, n w cor Croton st 50x100. to Marj-

Clancey.   (Amount due, abt §1,400).......      2,*200

Total . ..................................§173,91)7





BROOKLYN. N. Y.
In  the city of Brooklyn. 3Ir. T. A. Kerrigan has
made  the   following   sales   for   the week   ending
July 23 :

♦Deau St. n s, 100 e Franklin   av,'; lOOx'2^20 to

Pacific .st to John 11. Currie.............. §10,500

♦Herkimer pl, n s. .560 w Nostrand av, 20x97.9x

•20.9x92, lo W. H. Burroughs...............     1.000

♦Pulaski st, n s. 100 w Lewis av, 20x100, to

Mary Lee.................................     3,000

♦Taylor st s s, 204.8 w Wythe av, 15x100. to T.

Q. Holcomb..............................     1,000

*42d st, n s, 300 w -Jd av. 25x100.2, to J. P. Mor¬
ris.....................................        300

♦Carlton av, e s, 67.3 n   Myrtle av, 25x100, to

Dime Savings Bank......................     1,500

♦Division av. n w cor Schenck av,  100x100, to

Dime Savings Bank........................     2,500

Troyav. w s. 75 n Wyckoff st   52.9x100, to

Henry Hagner.............................     i,000

♦Wythe  av, n s. 73 s e Rodney st, 18x60, to

WiUiamsburgh Savings Bank..............     •2,000

Total..................................  §-22.800





BUILDING MATERIAL MARKET.
BRICKS.—The general condition of the market for
Common Hards remain much the same as last week.
Demand is good and quick from all quarters, and not
only exhausts but anticipates the suuply.while values
continue on a steady upward turn throughout-
Manufacturers still appear unable to bring their pro¬
duction up to a point sufficient to meet current con¬
sumption, and. according to reports made to us, a
great many more cai^oes conld be placed than are
likely to become available for some time ahead. In¬
deed, so difilcult has it been at times to secure stock
that some of the principal contractors were com¬
pelled to temporarily suspend work for want of
brick. Of course, prices have shown some irregu¬
larity, as the requirements of buyers would occa¬
sionally induce them to name a premium, but on the
average, cost appears to have enhanced about  25

Ser cent, since our last writing, and closes with a
rm tone on all grades. Choice stock naturally meets
with tbe most favor, but the eagerness of the de¬
mand for "some kind of brick" has induced extreme
bids on very ordinary quality in a few instances. Of
Pale Brick the sale has been fully up to supply, with
prices very firmly supported. Fronts are in demand,
and. as a rule, quoted steady, but figures may be
considered to some extent nominal. We quote
Pale. |} M 82.87(a;J.00: Hards. Jerseys §5 00(gi.5.37J<;;
Up-Rivers, §5.37J§@5.75; Haverstraw bay. §6.00^6.'25;
favorite brands, §6.50®6.75: Fronts. Croton—Brown.
§7.50®9.0(i; dark, §8.0(i®9.00; red. §9.00@9.r2^: Phila¬
delphia. §26(^28: Trenton. §iM(a29: Baltimorer§34®38.
Yard prices, delivery included, §'2.00(^3.00 higher on
ordinary and §5.00(0)6.00 on fronts.

GLASS.—On all kinds the amount ot wholesale
business is small, and importers and manufacturers,
as a rule, complain of the condition of trade. There
is to be found some exceptions, who speak in glowing
terms of the market but it is mostly what they ex¬
pect in the future rather than anything they can
accomplish now. Our local jobbing trade keeps up
very well, and dealers who make this a specialty
really seem to have a claim for a fair volumeof opera-
tionq.    Stocks on hand are equal to the call, but are