Columbia University Libraries Digital Collections: The Real Estate Record

The Record and guide: v. 36, no. 927: December 19, 1885

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December 19, 1885 The Record and Guide. 1393 Some Economical Follies. We look down on Mexico and China ; we pity their ignorance and their incapacity for self-government. China was so wicked, so depraved, so blind to her owu good as to shut out all foreign nations from her domin¬ ions, aud to refuse to engage in foreign coraraerce. China beheved in a "horae market;" she insisted on developing home industries, and on doing without what she could not hei"self produce. This was logical, but it was hurtful to tbe civihzed nations; and they bombarded her ports and corrupted her ministers, and slew her cifcizens and compeUed her to be bless^ by foreign commerce, whether she wanted it or not. Then Mexico, too, has beeu an awful example of the beauties of protection. We have dehghted to denounce her odious aud aufciquafced fcarifl; andnow the Mexican Financier retorts after this fashion : " The St. Louis Post-Dispatch, an American journal, advises Mexico to ' get rid of its odious, antiquated, aud dishonest tariff laws and regulations, and bring its whole business down to modern times.' We always like to return good advice with interest; and we will here advise the United States to 'get rid of its odious, antiquated, and dishonest tariff laws and regulations, and bring its whole business down to modern times."' The United States customs tariff is one of the most awk¬ wardly constructed tax schedules known to the civilized world. To comprehend it. requires twenty years of close study; and to mister the intricacies of the schedule jof duties on iron and steel alone, requires as much time as to learn a modern language." This is all true, every word of it; but think of a journal in Mexico teach¬ ing us the first principles of political econoray. Mexico is to-day ready to trade with us, anxious to treat with us for ti'ade; but we hesitate and delay, and are uncertain. Free trade with Mexico would raake restrictions against Canada seera a little more lidiculous than it now appears; and if we have free trade, or a reciprocal treaty with Canada, why not with England and France and Gerraany ? It is just because no reply can be given to these questions that the Mexican treaty hangs fire. Another absurdity of pro¬ tection is exposed by the sugar trade. The sugar tax in America is princi¬ pally a revenue fcariif, and there is no more reason for repealing it fchan there was for repeaUng fche taxes on tea and coffee. In Grermany it is dif¬ ferent; the sugar tax is a protective tax entirely, and Germany even goes to the point of paying a bonus for the export of sugar. The result is that the sugai- interests of Germany are in a state of collapse, while England is getting cheaper sugar than ever before, and eating more of it. Yet a duty on sugar in England would not be any more absurd than the duty on lum¬ ber, or iron ore, or salfc is absurd in America. Germany is, at rauch expense to hereself, "flooding" England wifch cheap sugar; but somehow only a few men in England see in tins flood impending ruin. We know bet¬ ter here; we know that ifc is wise to tax ourselves to keep out cheap coal, cheap salfc, cheap luraber; we are determined to keep them out, though we have to fortify our coasts from Florida to Maine against imaginary enemies. —Louisville Courier-Jowiial. Central American League. Three of the Central American repubhcs—Guatemala, Honduras and San Salvador—are negotiating for an aUiance in the interests of peace and com¬ merce, and there is a possibility, in case the plan is perfected, that the two remaining repubhcs of Central Araerica—Costa Rica and Nicaragua—wiU join the league. An international coramission, in session at Guatemala, has completed its plan, which has to be ratified by each of the three republics to render it operative. Among the points agreed upon are uniforra postal charges, extradition of criminals and deserters, adherence to the Universal Postal union, the currency of the coin of one repubUc in each of the others, religious freedom, ard universal education. In case of a disagreement between any parties to the treaty, the sarae is to be submitted to arbitra¬ tion. Should fche decision then not be satisfactory, the matter is to be referred to the corps diplomatique accredited to Central America.—Toledo Blade. --------•-------- Hugh J. Grant, the newly appointed Sheriff, has selected John F. B. Smyth to be Sheriff's auctioneer for New York City and County during his three years term of office. Real Estate Department There were quite a large number of parcels sold at the Real Estate Exchange during the week, and the attendance each day was good. On Monday, six vacant lots on One Hundred and Forty-seventh street, near Seventh avenue, were sold under foreclosure to the plaintiff for $15,500. On Tuesday a large crowd came to witness the sale of No. 66 Broad street, which after a lively contest was sold to J. T. Falls, for Frances Isbell Mor¬ ris, for $50,250, the bidding having commenced at $30,000. The property contains 1,622.4 square feet, which gives an average of about $31 per square foot. On Wednesday no less than eighteen parcels were disposed of by various auctioneers. The great sale of the week, and one of the most important of the season, was that of the estate of the late Charles H. Russell. A very numerous crowd gathered to witness the auction, amongst those present being Messrs. Amos R. and Amos K. Eno, Sam. Sloan, Eugene Kelly, Fleming Smith, R. H. Arkenburgh, F. H. Cossitt, John D. Crimmins, Andrew PoweU, Charles Buek, S. McMUlan, Cyrus Clark. J. W. Dimick, F, M. Jencks, the Ottinger Bros., J. W. Stevens, G. A. Kissam, W. Lyon, Terence Far¬ ley, C. W. Luyster, B. Havanagh, I. Metzger, Reuben Ross, Peter MitcheU, W. P. Seymour, B. Muldoon, W. Lalor, Hall J. How. Bayard Cutting, E. J. Sause, Jr., H. W. Coates, Jacob Bookman, C. E. Appleby, Ed, Oppen¬ heimer, J. C. Overhiser, J. Bentley Squier, R. C. Ferguson, L. J. PhUhps, James Rufus Smith, L. Friedman, J. G. Wendel, L. Tanenbaum, G. F. Johnson, Byam K. Stevens, F. M. Peyser, S. Vau Rensselaer Cruger, J. E. Leviness, E. A. Cruikshank, Harmon Hendricks, S. Myers, Wm, A. Duer, and others weU-known in real estate circles. The prop- perfcy offered included No. 417 Fiffch avenue, wifch fche stable adjoin¬ ing on No. 2 Easfc Thirfcy-eighth street, which sold together for $202,000. This was at the rate of $30.68 per square foot, or $76,700 per lofc, the prop¬ erty covering 6,583 square feet. Nineteen lots on the west side of the Boule¬ vard, running from Seventy-second to Seventy-third street, sold coUectively for $232,500, an average of $12,237 each. The purchaser, Robert Roberts, is said to have been offered by a broker $15,000 imraediately affcer the sale, which was refused. Seven lots on the southwest corner of the Boule¬ vard and Seventy-fifth street were sold individually for prices ranging from $10,500 to $14,300. Eight lots and four gores on the northwest corner of the Boulevard and Seventy-first street were withdrawn, having been purchased at private sale by John Duer for $85,000, as was the plot of ten lots and six gores ou the northwest corner of Seventy-first street and Eleventh avenue to W. E. D. Stokes; and also the plot of five lots on the northwest comer of the Boulevard and Eighty-seventh street, for $40,000, the purchaser being Moes S. PhiUips. The total amount realized on the entire estate was $709,025. A private offer made for the vacant property, except the lots on the corner of the Boulevard and Eighty-seventh street, before the sale by Goo. F. Johnson, the weU-known operator, of $460,000, was refused by the estate, the result having brought $7,025 better. On Tuesday next, the 22d instant, Richard V. Harnett & Co. wiU seU th© five-story brick dwelling No. 51 East Twenty-flfth street, between Madison and Fourth avenues, and the four-sfcory flat No. 311 Easfc One Hundred and Thirteenth street. The former is a positive, and the latter peremp¬ tory, sale. The conveyances recorded during the past week make a very good show¬ ing, both in number and amount, as compared with the corresponding period last year. This is proof that not only brokers have been doing bet¬ ter business recently, but also that the property sold is of a better class. The North New York wards also make a betfcer showing; and it may be ex¬ pected that fchey wiU henceforth continue to do so, in view of the late de¬ velopments iu surburban rapid transit. The mortgages also show an in¬ crease in number and araount, and those giveu at five per cent are larger, while those at less than that interest record an unusually large increase, showing what a plethora of raoney there raust be in the raarket at the pres¬ ent tirae. The projected buUdings, however, showed a marked decrease. The foUowing are the tables: CONVEYANCES. 1884. Dee. 12 to 13, inc. Number........................................ 170 Amount involved............................ $2,172,976 Number nominal............................. 38 Number SSd and 24th Wards.................. 27 Amount involved......................... 840,471 Number nominal.............................. 7 lg85. Dec. 11 to 17, inc. 268 ♦$4,231,994 70 42 $60,663 16 * Does not include Conveyance of West Shore R. R. for $32,000,000. MORTOAOSS. Number..................................... 142 265 Amount involved............................... 5I,B29,900 t$2,794,*18 Number at 5 per cent.......................... 68 102 Amount involved............................ $641,416 $1,176,129 Number at less than 6 per cent............... 2 26 Amount Involved ............................. $95,000 $445,000 Number to Banks, Trust and Ins, Coa......... 28 37 Amount involved........................... $346,586 $698,000 X Does not include Mortgage on franchises, &c., of West Shore R. R. for $50,000,000. PROJECTED BUILDINOS. 1884. 1885. Dec. 13 to 19. Dec. 12 to 18. Number of buildings.......................... 75 61 Estimatedcost............................... $1,183,200 $535,400 Gossip of the Week. It was reported to us early in the week by one of the parties in interest that "The Osborne" apartraent house on the norfchwest corner of Fifty- seventh sfcreefc and Seventh avenue, was sold for $1,290,000. We learn from Thoraas Osborne, the owner and builder, that the consideration was $1,365,000. The names of the purchasers have nofc transpired. The buUd¬ ing has been leased for ten years, at $100,000 net per annum. It is ten stories high and fifteen duplex, exclusive of basement and attic, and is one of the most fire-proof structures in the city. It has a frontage of 150 feet on the street, and 100 on the avenue. " The Osborne" is one of the largest apartment houses ever undertaken to be buUt by any New York buUder and |he is to be congratulated upon having obtained a purchaser for so costly a piece of property. The sale shows great confidence in real estate values, and ought to have its effect in strengthening the position of the owners of other palatial apartment houses. John Weber has sold twenty-one lots on Eighty-seventh and Eighty-eighth streets, between Eighth and Ninth aveuues, five being on the forraer and sixteen on the latter streefc, for $172,000, to Reuben H. Cudlipp. John J. Brown has sold nine lots, with frarae house, on the south side of Ninety-fourth street, between Ninth and Tenth avenues, for $58,000, to Ben¬ jamin F, Romaine. Broker, Andrew PoweU. Anthony Mowbray has sold the most easterly of his fchree new houses on Eightieth street, south side, between Madison and Fifth avenues, 25x &5xl02.2. Terence Farley & Son have sold another of their haudsome houses on West Seventy-third street, No. 406 West, 19x55, with extension xl03.3, for $35,000. Andrew PoweU has sold for W, J. Merritt a three-story Queen Anne dweUing on West Seventy-fifth street, for $18,500, to A. E, R. Glenney, Louise 8. Jennings has sold the three-story and basement brick house, No. 98 Chnton street, S0x50, for $7,500, to Peter Sheridan. Peter Eagan, Jr., has sold for Henry Fisher, the three-story and base¬ ment brick house, No. 746 Sixth street, 32x45x93, for $10,500, and the flve- story double fiat, No. 114 East One Hundred and Fifteenth street, 35x85 XlOO.ll, for $24,000. B. Havanagh has purchased one lot on the northeast comer of Ninth avenue and One Hundredth street, for $8,000. Broker, Andrew PoweU. R. H. L. Townsend has not sold the plot of lots on the west side of Ninth avenue, 35 feet south of Seventy eighfch sfcreet, 80x104, as reported last week. Mangam & Co. have sold, for George W. Palmer, the three-story buUd¬ ing with store, No. 3356 Second avenue, 30x55x80, to Michael Goetz, for $9,000. Ten shares of the stock of the Real Estate Exchange were sold at auction on Wednesday for $1,070. Charles A. FuUer has purchased four lots on the northeast corner of Eleventh avenue and Seventieth street. George R. Read has sold for estafce of Geo. Mather's sons the ten lots run¬ ning through from South to Front street, between Montgomery street and Gouverneur sUp, for $47,500, for improvement; and for Christopher R. Robert No. 451 Washington street and Nos, 79 and 81 Watts street, for $33,000. W, J. Cole & Co. have sold, for tbe estate of E. J. King, to Martha A. Lawson, six lots; three on the north side of One Hundred and Fifth street,