Real  Estate   Record





AND BUILDERS' GUIDE.





Vol. XXV.





NEW YOEK, SATURDAY, MAECH 27, 1880.





No. 628





■   Published Weekly by

TERMS.
ONE YEAR, in advance.. ..$10.00.

Communications should be addressed to

C.   "IV.   SWEET.

Nos. 135 AND 137 Broadawv

OUR SUPPLEMENT TO-DAY.

Under this head we propose to tell truths about
some of the mining properties offered on this mar¬
ket. The newspaper literature on this subjecfc is
very large, bufc nofc one solifcary paper, daily or
weekly, so far as we have seen, is published in
fche infceresfc of fche invesfcing public. Ifc is unwhole¬
some that all the newspapers should be on the
side of those who have properties to sell, and not
one journal committed to the interests of those
who have money to invest. The Real Estate
Record has no infceresfc, bufc to tell the truth. Ifc
solicifcs no mining adverfcisements; it has nothing
to do with the promoting or marketing of mining
shares. It does not propose, however, to run a
muck upon the mining business, which it regards
as perfectly legitimate, but its editor is conscious
thafc somehow fchere is a peculiar danger afcfcach-
ing to mining invesfcmenfcs in fche form of stock
companies. There has never been a time in any
country where disaster did not flnally come upon
the community that gambled largely in the shares
of bullion producing mines. Our object is simply
to warn the public to tell the truth, about mines,
with a view of showing that the business of mining
can be conducted legitimately by private flrms.
syndicates and corporations, who do nofc care to
put their stocks upon any of the Exchanges.

We print to-day a supplement devoted to this
subjecfc. Any subscriber interested in this
mafcfcer can procure addifcional copies of this sup¬
plement atthe rate of 5 cents per copy.





ELEVATED IDEAS.





By referring to an article in another column,
it will be seen how Brooklyn is benefitting by the
shortsightedness of some of our uptown, notably
Harlem, owners. The reiits of small houses,
owing to the supposed influx of people consequent
upon the completion of a system of rapid transit,
have gone up to such an extent that a large num¬
ber of those who like to dwell in our midst are once
more seeking homes in the quiet Cifcy of Churches.
The elevated roads have given some landlords
elevated ideas, for which there exists no warrant
whatever. How much wiser Brooklyn landlords
act is shown by the increased demand for quiet
unostentatious houses. Ifc will not do to say,
"Oh, you cannot compare Brooklyn to New
York;" and yet we cannofc close our eyes to the
fact that these cosey little dwellings which
abound in our sister city are the very ones
required by the army of clerks and mechanics
constituting our ine" ustrious middle class. Neither
will it do to say in the face of rapid building ope-
ra,tions that there is too much of a scarcity for





such class of houses in New York proper. On
the contrary, there are quite a number of them,
but they are held at flgures not within reach of
the class alluded to. Their income is no better
than it was last year, though their work may be
more continuous, and everything aside of rent in
the shape of necessaries of life has gone up and is
still going up, Brooklyn landlords, at least, seem
to understand fully the law regulating supply
and demand and, while they have a good num¬
ber of small comfortable houses at their disposal
they do not drive the new comers away by fright¬
ening them with exorbitant rents. Let our New
York landlords take a lesson from owners across
the river. It is better to secure tenants, even at
short leases, at a small return on the investment,
than drive them off Manhattan Island. We are
glad to notice that Mr. Edward Clark, whose
broad views of the requirements of our city enti¬
tle him to be quoted frequently in connection
with such matters, has lowered the rents of his
new houses on Seventy-third street since the first
of the month, and has been the very flrst to set a
proper example in discarding elevated ideas.
This, indeed, is the only manner in which New
York can ever be filled up with a working popu.
lation, for which there is ample room, and also
with a class of houses, which, if only held at mod¬
erate rents, can be easier disposed of here than in
Brooklyn.





WEST SIDE ENCROACHMENTS.

While commerce is New York's first interest,
and every facility should be granted not only by
men in authority but also by citizens generally
for this great and first element of fche cifcy's
prosperity, there is yet and always will be a
neqessity equally apparent for placing upon com¬
merce those restrictions which involve the health
of our city. Therefore, in looking forward to
the acquisition by the Hudson River & Central
Railroad Company of the large area of territory
along the Hudson River, reaching, as is supposed,
to the southerly limit of Riverside Park and
avenue, ifc becomes a mafcfcer of fche ufcmosfc im-
porfcance that the Commissioners of the Sinking
Fund, in the exercise of the grave responsibilities
devolving upon them, while granting to the
railroad company all facilities that may be needed
for the increase of traffic, shall act with caution.
It should be distinctly understood that the
acquisition of any more territory by this corpo¬
ration shall not involve the possibility of a colossal
nuisance in the shape of a cattle yard, oil depot,
or whatever may cause this nauseating fluid to
fill the atmosphere with an odor that will spoil
the value of property within a radius of at least
three miles.

What action have the owners of property liable
to be damaged taken in these premises, or what
actiondothey propose to take? A few days of
time, even a few hours, may make it impossible
to prevent the calamity that has been here fore¬
shadowed.

-------•-------.

Property owners in the upper part of fche city
do not intend to be deterred by the recenfc deci¬
sion in regard to assessments.   Building improve¬





ments will go on just as readily. On Tuesday
last, for instance, nearly all the property owners
on Eighty-second street, between Eighth and
Tenth avenues, signed a petition for a sewer in
that street, preparatory to building. It is claimed
that the paving, curbing and fiagging can be done
just as well after the houses have been builfc as
before, and in fche'meanfcime relief will be ob¬
tained from the Legislature.





MARKET REVIE^^^





REAL ESTATE MAREIET.
^P" For list of lots and liouses for sale
see pages Iii, iv and v of advertisements.

The week, which opened with- numerous transac¬
tions pending, closed with considerable activity, but
yet with the much talked of "boom" at a conveni¬
ent distance. Numerous causes combined to dictate
a Fabian policy on the part of investors as well as
holders. The fact that a large amount of real estate
\^as to be made subject to the hammer of the
auctioneer, had a good deal to do in a market which,
in the language of a shrewd observer, needs not only
" careful watching but considerable nursing." There
was no lack of interest whatever in the market; but
tbe waiting policy, nevertheless, predominated
until the very end of the week. The auctioneers
could not complain of the lack of attendance, their
stands being continually surrounded by an eager
crowd watching every phase of the bidding and the
final results of the various sales. The sale of the
Grand Boulevard and One Hundred and Eleventh
street property oc Monday last cannofc be called a
success, it being doubtful whether the parties to
whom some of the lots were knocked down will ever
be asked to take title, for reasons best known to them¬
selves, though the corner lot, secured for Mr. Wood
by Mr. J. Romaine Brown, is said to be an exception
in this regard On the same day the plaintiffs in the
foreclosure sale of property lying around Fifth and
Sixth avenues, One Hundred and Thirty-eighth, One
Hundred and Thirly-ninth and One Hundred and
Fortieth streets, bought it in for $4,000 less than the
incumbrances. This was also the case with the im¬
proved property sold under foreclosure; No. 150 West
Forty-sixth street, only flfteen feefc front, was sold by
Mr. i^cott at auction for §14,650, and at an assignee's
sale, held by Messrs. A. H. Muller & Son, No. 104
Easfc Thirty-seventh street, was sold for $29,250.
Minor sales of the same class were held during the
week with varying results, as will be readily ascer¬
tained by the list at foot. Still, if only to show the
exact temper of the market, we ought to call atten¬
tion to the fact that the Messrs. Muller withdrew
from sale on Tuesday two lots on One Hundred and
Forty-second street, betw en the Boulevard and
Twelfth avenue, and that the Messrs. Ludlow sold on
that day a lot on One Hundred and Thirteenth street,
between Fifth and Sixth avenues, for $2,600. The
sale of property forming part of the Aronson estate.
by the Messrs. Muller, resulted it: the disposal of two
lots on Fifty-seventh street, between Eighth and
Ninth avenues, for $4,850 each to Mr. King, of the
firm of May & King, the same purchaser securing the
Seventy-fourth street lot.

Mr. Josiah Jex made an auction sale of his property
on Wednesday, and at this writing even, it is difflcult
to say whether Mr. Jex still owns fche property he
placed before the public or not. It was knocked
down energetically by the auctioneer, but the future
will tell whether title will be passed to the gentlemen
mentioned in the auction room, with the exception,
perhaps, of Mr. John Farrell, who secured a good plot