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1098 The Real Estate Record November 26,1881 It would be an immense relief to Broadway if the omnibusses were interdicted. The official list of conveyances and mort¬ gages very naturallj'' show a falling off from the large totals of last week. In holiday weeks it is the turkey market and not the real estate or stock market which shows the heavy business. The very compact table we give, however, will interest all investors and dealers in real estate. Weelj: N.Y Am't. No. No. 23d Am't. No. end City in¬ !Tom- &24th in¬ nom¬ ing. Cons. volved inal Wards. volved. inal. Sept. $ $ 14 75 809.074 25 12 24,450 21 111 1,381,992 36 16 45,938 6 28 89 1,355,333 21 19 90,59S 4 Oct. 5 157 3.200,444 34 15 1.5,400 8 12 157 2,007.448 39 21 38.289 S 19 159 1,696,607 52 18 64,00(1 6 26 146 1,720.325 44 21 213,871 6 Nov. 2 192 3.103,469 44 20 25,725 4 9 151 2,952.416 37 14 71,300 1 6 185 3,078,525 45 35 i 6,953 7 13 173 2,046,389 51 22 174,385 6 Week Mort- Am't. No. Am't. No. to Am't end- gag¬ in¬ Five in¬ T.& in- ing. es. volved, per ct. volved. [nsCos. volveii. Sept. S % $ 14 108 793,153 13 224,700 17 227,900 21 149 1,159,231 29 235,681 28 464.450 28 Oct. 5 117 1,076,874 29 469,100 27 562,500 169 1,310,982 35 3-34,900 31 378,700 12 152 1,531,856 28 285.611 29 549,175 19 174 1,486,930 36 334,038 30 480,250 26 Nov. 2 298 1,741,258 35 377,632 51 687,000 241 1,866,805 55 466.500 41 375,000 9 204 2,331,630 42 787,250 25 n-1,(11)1 16 196 5,413,050 36 595,200 39 3,748,300 23 156 1,194.452 40 318,600 22 264,000 It is now announced that Gould, Field and Sage, with their friends, have secured the New York & Northern road as weU as the New York & New England road, formerly known as the Boston, Hartford & Erie. It is now clearly evident that Gould's capture of the elevated roads was part of a scheme which involved vast out-of-town connec¬ tions. His determination is to make the elevated system the terminus of the lines he controls across the continent and down to Mexico. A bridge is soon to be built across the Hudson, below Newburgh, which will be used by the Erie and the Pennsylvania Central to bring coal and other freight, as well as passengers, into New York City by way of the New York & Northern road. Gould's schemes, it seems, involve the build¬ ing of an immense depot further down town than the Grand Central Depot, also a bridge across the Harlem at Second avenue. Ifc is evident that he is determined to make the elevated roads profitable, and to do so mainly by its out-of-town connections. It was re¬ ported recently that he had again secured control of the Erie Railway, but it seems the English stockholders are not wiUing to agree to his terms as yet; but his capture of the New York & Northern Railway, as well as the New York & New England, show that he has his eye upon Erie, which he may hope to capture next year, if not this. What with his new stock exchanges, grand depots, bridges and elevated railway invest¬ ments, Jay Gould is becoming a very im¬ portant factor in the price of real estate in New York. In the World gossip, which is supposed to be inspired by Jay Gould, the foUowing occurs as the advice of the bearish broker : " My advice to those who would buy property of any kind to hold for enhanced prices is to put their money in New York real estate. Let prices go up or down, the ground is there, and as sure as the country continues to grow in population by the excess of births over deaths, to say noth¬ ing of immigration and the wealth-producing improvements in all the arts and industries, so surely will New York property gain in value. For many years real estate here has been the safest investment made, and larger and bet1«r fortunes have been made in it than in Wall street. Witness the safe and splendid wealth of such men as the Astors, the Lorillards, the Stuyve- sants, and the Goelets. The island of Manliattan is narrow and long, and before many years every foot of it will be built over. My grandchildren, perhaps, will see it covered with office and busi¬ ness buildings." This is all very well, but why does not Gould himself buy real estate? All that he is known to possess is the house he lives in, his Tarrytown property, the Wo^ Id building and some sixty-three acres five miles back of Tarrytown, the former Woodward estate. If Jay Gould should turn his attention to real estate, what a change it would make. A speculative investment of $20,000,000 would double up the price of unimproved property. In view of the interest of Gould and his friends in the elevated railway sys¬ tem, it is barely possible that the wealthy clique he represents may have in view a lot speculation so as to buU the elevated secur¬ ities. At any rate, the above abstract from the paper, which is his personal organ, is significant. MINING INFORMATION. Matters look very dismal in mining circles. The investor has disappeared from the offices of the members of the two mining boards, so that the brokers deal speculatively with one another, but swapping jackets is not a profitable business, and hence things are gloomy vs^here the brokers do most congregate. The way the Gaborca mines are mentioned in the Tribune mining column would seem to indi¬ cate that the next deal is to be in those Mexican properties. The people who handled the State Line mines wiU have this new enterprise in charge. Anything can be said about the Gaborca mines, as they are so far away as to be in no danger of raspection. An inaccessible region seems to be the desideratum in the mining swin¬ dles organized by the GaHf ornia sharps. The Bodies look weak, but the old Standard keeps on its regular dividend of $75 a month. Unless we are misinformed, a deal is soon to be made in the Bodie properties. Mr. William M. Lent says the coming New York State Legislature should pass a law regu¬ lating mining companies, that would empower them to levy occasional assessments. He says there are some excellent properties undeveloped to-day, because of their inability to raise money under the laws of this State. It was the power to assess the stockholders which has led to the immense development of the mining industry on the Pacific coast. The Bull Domingo, Palmetto, Highland Ghief, Big Pittsburg, and scores of other properties are lying idle and discredited for the want of money to keep the developments under way. Bonding a mine discredits it, and puts the stock in danger of being wiped out. Mr. Lent was further of opinion that with proper mining laws New York would be the natural seat of the great mining boards of the continent, which ought in time to rival the regular Stock Exchange. Mr. Lent expressed his surprise at the way in which Bodie stocks are depressed. He declares that he is buying the Bodies. He in¬ tends to settle permanently in New York. He finds that even in these depressed times good properties find a ready market. A Mexican property was offered here for $420,000. While he was hesitating, Glarence King took it in hand and disposed of it very readily. A property is soon to be brought upon this market in which Roscoe Gonkling, Thomas C. Piatt, Chester A. Arthm- and John P. Jones are interested. This is a mining venture in which Senator Jones managed to interest his distin- gueshed associates some time early last spring. It is located in Southern GaUf ornia, and Senator Jones believes that he has got a magnificent property. Roscoe Conklin's removal to New York has something to do with the disposal of this mine. It has already been brought to the attention of several Wall street capitalists. ----------------♦^•-e---------------- ANSWERS TO CORRESPONDENTS. Lex.—It depends upon the nature of the im¬ provements made upon leased property and whether they can be removed without injury to the premises. If they can be removed without injury to the premises, the lessee may remove them. If they are of a substantial character and have been erected with the permission of the owner, it is usual for each to appoint an appraiser, and they a third to decide upon the value of the improvement, which sum is allowed to the lessee by the owner. A storekeeper may remove his fixtures on expiration of leaso, but may not re¬ move from the premises and return sometime afterwards and claim his fixtures. ABOUT MORTGAGES. Editor Real Estate Record : A party has a mortgage and wishes it to be re¬ newed, being due December, 1881. What is nec¬ essary to do, must the agreement be recorded again ? Constant Readeb. Answe7\ Chattel mortgages expire within a year and apphcation for their renewal must be made thirty days previous to the expiration of the year. But other mortgages run on until the lender calls for his money, which he is not likely to do if the security is good. It is not necessary to take any action, as long as you are able to meet your interest charges. BROOKLYN'S GREAT SALE. Editor Real, Estate Record : It is quite time that a moral was drawn, re¬ specting the recent great sale of Prospect Park lots by the city of Brooklyn. I have watched the real estate market for many years, and I claim to represent the views of conservative operators, when I say that purchasers paid alto¬ gether too much for those Brooklyn lots. I judge that the whole sale was 30 per cent, better than it should have been, taking in view the in¬ trinsic value of the property. Brooklyn is not like New York. It is separated from the centre of business activity by a swift flowing river, and it has all Long Island to spread over. Not so with New York. Every new road, bridge and tunnel adds to the business and population of this island which is circumscribed, and the popu¬ lation of which can only grow in one direction. If the property in Brooklyn is worth what was paid for it a week ago last Thursday, then unim¬ proved property on this island ought to double up in value at once. There is some influence in a great crowd which is apt to upset the judgment of prudent people who are bidding for property. Lots as well situated as most of those sold last Thursday week, have been purchased for half the price during the past year. It is very often the case that in great sales the bids are high through the spirit of competition, and a certain psychological influence which a throng of eager bidders exert upon one another. Commissioner Stranahan was wise to postpone the sale of fche rest of the lots till next spring. Had it been con¬ tinued during the coming month, it would have been seen how extravagant were the prices paid atthe flrst day's sale. I make these remarks because extravagant prices permanently alienate prudent capitalists. It is much better for brokers when fair prices obtain, because trading is then more wholesome and legitimate. Observer. There has not been much falling off in the actual wants of consumers of material during the week, but work has been somewhat checked by the holiday and the weather. Most contractors appear weU incUned to push forward with all the speed possible in order to keep ahead of frost, and full supphes of all kinds are wanted. Dealers also are anxious to add to their winter accumula¬ tions, and as the supplies come forward with diminished freedom, values tend to strengthen on all leading articles. The only important advan¬ ces made this week, however, are on Ume and cement. The Board of Aldermen have approved the new route for the rapid transit railroad in the Twenty-third and Twenty-fourth Wards desig¬ nated by the Rapid Transit Conunissioners. Judge Donohue, in Supreme Court Chambers, has granted an order giving permission to the Yonkers Rapid Transit Company to change its nameby addmg the words " New YorkDivision.'