Please note: this text may be incomplete. For more information about this OCR, view About OCR text.
Real Estate Record
AND BUILDERS' GUIDE.
NEW YORK, SATURDAY, AUGUST 0, 1879.
Published Weekly hy
^ht Seal (Estate%KQxii l^ssoctattoit.
ONK VEAU. in advance.. ..SULOU.
Oonmumications .should bo addressed to
C. \V. SAVKKT,
Nos. SIT) AKn :M7 Buoahway
IIAXK CHECK—KOUGKIty OK I.M)OU.SE.ME.\T-—LIA-
nii.rrY ok ha.xk.
Tho Court of Appeals has decided that where
a check is drawn, p.ayable lo the order of a
payee, the bank before paying the same is bound
lo ascertain the Keiiuineiioss of tho payee's in¬
dorsement. The depositor is not precluded from
di.-iput ing the right of tho bank to charge tho
check with the forged indorsement against his
uccotmt, for the reason that ho w.-is debited with
the .'^me in his pas.s-book, and that it wjis re¬
turned lo him with other voiu-licis bj- the bank
111)011 the moiithl}' writing up of the account,
and was retained without objeclion. A depositor
(r.ves no iluty to a bank whieh requires him to
e.xamiuc his pa.s.s-book, with a view to a<letection
of forgeries of his iiaino, jind ho h.ns a right to
:i.ssiime that the bank befme paying a check will
ascertain the genuineness of the iudorsenioiit.';.
DF.KII—WHAT DKSCIlII'TUlX inXTUOLs.
The saiiif Court (of Appeals) has decided that a
general and introductory description of land in a
deed preceding the specif! • aud particular bound¬
ary, as " the lot or jiiecc of laml called the cross
lot and now in the posse.s.sioii of the .said (jcorgo
Throop," was too general to contnd ami over¬
ride the more certain and material description of
the laud in the dead, and will not pass title to
laud outside tbo speci^u^ and certain Icmiularios
If b}'an advci^so occupation or bj' mutual ac¬
quiescence of adjoining owners of land on the
Bide.s of a true line, a dilTereut line has been es¬
tablished, the new line would then supei-sedo the
original and actual boumlary, and becomo tho
true lino for all i)ur[ioses,
I'ROMISSOHV NOTE- HIUIITS UK ACCU.MMOUATIO.H
The same Court (of Appeals) bas decided tho
One A. indorsed a promissory notu of tho firm
of B. Se C. made payable to his order, for the ac¬
commodation of the makers, and under the agree¬
ment that the .ejune should be used only for the
purjiose of taking up and retiring a fornier note
so indorsed. That tho makers instead of using
the note as agreed, transferred tbe samu to one D.,
as collateral security for tbe payment of an ante¬
cedent loan. D. parted with no vahio and relin-
quLshed no right on receiut of tbo note. U. pro¬
cured the note to be discounted before maturity,
for his benelit. Tbo note w.is protested for non¬
payment, aud the holder brought suit against A.
and recovered, and A. thereupon sued D. for tbe
amount he so paid ou the judgment.
The Court hold that the action is maintainable
and say "one who receives a note before it is due
and without notice or knowledge of any fraud in
Its inception or transfer, but for a precedent debt,
and without parting with value or any valuable
consideration does not acquire a valid title to the
note or bill, but takes it subject to all its inlirm-
Ities, precisely as if ho bad taken it after dishonor,
or with knowledge of all tho eircumstiuices atfect-
The Court further decide that D. did not put
himself in any better position by negotiating the
uote loan innocent transferee before maturity.
Ihat having no title or right to the note, D. could
have no legal right to transfer the same, and the
sale of it by him was a conversion. It is imma¬
terial that he may have acted in good faith .-^nd
in ignorance of the rights of tbe accommodation
indoi^ser. (Jne dealing with the propertv of
others, although under the mistaken belief that it
is his property, does .so at his peril, and must
answer lo the true owner for his acts.
MECJIAXICS' I.IK.V — I'UIOUITY OVETl CUATTEL
Judgo McAdam, of tbe Marine Court, has de¬
cided that the lien of a mechanic upon coaches
which be bus in his pos.se.ssion, for his neccssarj-
repairs made thereon hy him for and at the
request of the owner, is prior in law to and there¬
fore enforceable against that of a mortgagee
thereof who.se mortgage was made, duly filed and
recorded pursuant to tho sl.'itute prior to the
making of such repairs.
LAAVS OF NEW YORK, 1S71».
.\x Acr to aiuond section twenty-eight of iuticle
two of title ten of chapter eight of "part three of
tbe llevised StaluteB, relating to Hummary pro¬
ceedings to recover the possessiim of land.
Pa,^sed aiarcli ■2-2, l.STO.
The IVople of Hie State of New York, repre.«onted
iu SiMiate and Assombly, do eiiuct as follows:
Section 1. Si:ctiou tw"onty-eiglit ol article two of
title ten of chapter eight of jiart three of the
Ueviscd Statutes, is- hereby amended so as to read
§ 2s. Any temtnt orlessoo at will, oral suflcrance,
or for any pait of a year, or hir one or more years,
of any houses, hind, or tei;('nieiit3, and the assigns,
iiudei-teiiauts, or legal reprusontatives of sucli
tenant or b-s.soc, may be removed fnnn .'*ucli
premiseK by any judge (d" the countv coiirbs of tho
county, or by any justice ol the peace of the city or
town ■•vhcre tbe premises are Hituated, or by any
justice of the peace of the town adjoining the town
where such premises are situated, having an
ollice ill a village the corporate limits of which
include a portion of both of said towns, or I»y any
mayor or it;corder of tlu- city where such premises
are"«itiiated, or in the city ot New York, by the
mayor, recorder, any justice of tho marine court,
or any one of the justices of the district courts of
the city of New York, iu the manner hereinafter
described in the following cases:
1. Where Hiioh por.son shall hold over and con¬
tinue in jiossession of the demised premises, or
any part thorcof, uftor tbe expiration of his term,
without tho permision of the landlord.
2. Where Kuch person shall hold over, without
such iiermission as aforesaid, after any clefault in
tho payment of rent, pursuant to the agreement
under which Biich premises arc held, and a demand
of such rent shall have been made, or three days'
notice in writing, i^cquiriug the payment of such
rent, or the post<ession of the premises, shall
have been sicrved by the person cntilled to such
rent, on the person Owning tbe same, in the man¬
ner prescrjbeil for the service of tbo anmmons in
tbo thirty-second section of this title ;
3. Where the tenant or lesseo of a term of tlireo
years, or less, shall have taken tho benefit of any
insolvent .act, or been discharged under any act for
the relief of his jiorsou from imprisonment during
such term :
•1. Where any person shall bold over and con¬
tinue in possession of any real estate which shall
have been sold pursuant to the foreclosure of a
mortgage thereon, or by virtue of an execution
against such person, after a title uuder such sale
shall have been perfected.
5. AVhen any person shall hold over aud continue
inpossession'of any real estate occupied or held
by him under an agreement with tho owner to
occupy and cidtivate the same upon shares or for
it share of the crops, after the expiration of the
time fixed iu the agreement for auch occupancy,
without the permisson of the other party to said
agroomont, bis licir.s or assign**.
.\n Act fo provide for discharging cbaUel mort¬
Passed April Hi, 187U.
The People of tho State of New York, repre¬
sented in Senate aud AesemWy, do enact as fol¬
Section 1. A^honever any mortgagor, or any
])er8on obtaining title to mortgaged property,
shall present to any recorder, connty or town
clerk, in whose otlice a chattel mortgage executi-d
by said mo! tgugor on such property may lie tiled,
a certificate from the mortgagee therein named,
or the owner or holder thereof, that .such mort-
g.ige is jiaid or .s.atisfifcd, it shall be the dnty of
such recorder, or either of tbo clerks above nien¬
tioned, to lilo such certificate in bis ollice and dis¬
charge such mortgage, by writing in the book
kept by such recorder or either of such clerks, aii<l
oppo.sito the entry therein of such mortgage, the
word " discharged," with the date thereof.
Sec. 2. This act shall take elTect immediatelv.
Ax Act to confer powers upon the C(uiimon ('omi-
cil of the City of New York to complete the n h-
toratioii of Tompkin.i square a.s a public park.
Passed April 16,187!», three-firths being present.
The People of the State of New York, re[.ri-
Honted in Senate and Assembly, do enact as fol¬
Section I. The Common Council of tbo City of
Xew York is hereby authorized to direct the "de¬
partment of public park.s of the city of New Y'ork
to complete tho restoration of Toiupkin.s s(juaic
as a public park or nquare.
Sec. 2. To provide the means for tbe work author¬
ized by the first section of this act, the comptroller
of the city of New York is hereby authorized and
directed lo create and issue after the said depart¬
ment of public parks has been so directed by the
common council, and within twenty days after
requisition is made on him to do so, by resolution
of the conimi8sioner.s of tbe deivartment of puldic
parks of the city of New York, or a majority of
tbem, in the name and on behalf of the mavor* al-
dermon and commonality of the city of New York,
a public fnnd or stock to an amount to be men¬
tioned in said reciuisilion, and not exceeding
twenty-five thousand dollars, jiavable on the first
day ot November, one thousand eight hundred ami
eighty, with interest, at a rate not lo exceed 0 per
cent, per annum, and the proceeds of said fund or
stock shall bo applied to payment for tbe work au¬
thorized by this act.
Sec. 3. The board of estimate and apportionment
of the city of New York is hereby directed to in¬
clude in the final estimates of the amounts re¬
quired to pay the expenses of conducting tlie pub-
he business of the city and county of New York,
during the year eighteen hundred and eighty, an
amount sufiicient to pay both principal and inter¬
est of tho fund or stock authorized to be isscd by
Sec. i. This act shall take effect immediatelv.
REAL ESTATE MARKET.
At the E-xchango Salesroom during the weak few
sales were effected. At private sale, six lots on the
northwest corner of Madison avenue and Sixty-flfih
street, have, it is reported, been sold for $115,00(1.
Jere JoluLSon. Jr.. has sold, for Mr. J. A. oilonsell, eight
lots on the south side of One Hundred and Fifth street.
100 east of Riverside avenue, for SIO.IXX); two lots on
the north side of One Hundred and Fifth street. 100
wesi of Eleventh avenue, for §4,000, and one lot on tho
northwest corner of Eleventh avenue and One Hun¬
dred and Fifth street for S-J.OOO, these lots were pur¬
chased by Mr. Monsell recently for 515,000.
Mr Edward Clark, President of the Singer Sewing
Machine Co., has had plans perfected for a model
French flat, and is about to build the same on the
southwest corner of Eighth avenue and Seventy-fourth
street, the size of the building will be 100x150 feet.
Buring the week ten plans, embracing twenty-
eight buildings, to cost S^iJJ.llOO, have been filed. At
No. !ife7 Madison avenue a four-story brick dwelling
will be erected; cost, §50.000. E. H. Cockburn will
build ten three-story dwellings on the northeast cor¬
ner of One Hundred and Tenth street and Fourth
avenue, and the city of New York will erect two
three-story brick engine bouses at No. 91 Ludlow