Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: v. 24, no. 593: July 26, 1879

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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