Columbia University Libraries Digital Collections: The Real Estate Record

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1308 Record and Guide. S'ovember 3, aentB the exhaustion of 120,000,000 tons of our available supply. A Westem paper calculates that at this rate our Pennsylvania coal supply will be •ihausted in seventy-five years. Where the data for this calculation comes from is notapparent; bufc whether well founded or not, it is certain that more cai-e ought to be taken by our coal companies to prevent waste, for with tbe demand increasing at fche present ratio it is certain that some¬ time, no matter how far distant, our coal must either become practicaUy exhausted or eke te produced at sucb an immense racrifice of capital and labor that it will be too expensive for general use. We need not be muoh afraid of such a result for hundreds of years, and perhaps by that time jome other still cheaper combustible material will have been discovered; nevertheless, there is no excuse for the enormous waste in mining anthracite. According to John M. Gregory the postal savings banks have everywere proved their superiority to ordinary savings banks. The French Minister of ports and telegraphs says tbat tbey have succeeded beyond expectation in France, and reports that at the close of 1685 (the fourth year) there was in that country 693,583 depositors with a balance to their credit of $30,000,000, It was Btarted in Great Britain amid the competition of a multitude of private savings banks, and of friendly mutual benefit and trade societies ■which served as savings banks in some degree for their memberB; but on December 81, 1886, at tbe end of twenty-five years from its start, the nimi- b»r of accounts of depositors remaining open was 3,731,421, and the amoimt to their credit was 50,874,338 pounds sterling, while the value of the govern¬ ment securities held by the banks was 520,641,052 pounds, showing a sur¬ plus of profits of over $8,000,000, which goes to the payment of the national debt. This success is very natural, for the advantages of the syst«m are great. Deposits can be made in very smaU amounts, fchey can be made in allof the8,500poatofBcesof Great Britain, and they can be made with absolute security._______________ How to Draw a Contract. An invaluable work for aU dealers in realty is found in " The Guide to Buyers and SeUers of Real Estate," by CounseUor Geo. W. Van Siclen. This pamphlet, of only fifty-six pages, offers a complete solution of aU tbe complicated questions that arise in drawing coatract«. It discusses ques¬ tions of titles, liens, curtesy and dower rights, deeds, seai-ches, etc., and oontains forms of contracts and judicial decisions which, with other general information, wiU go far towards making every man bis own lawyer. It tells afi about fixtures, assumption of mortgages, apportionment of rents. description of property, terms of payment, damages for failure to carry out contracte, information on setting aside contracts for mistake or fraud, and forma of deeds. Published by The Record and Goide, 191 Broad way. Price 50 centa. ---------•--------- Real Estate Department. There is very fittle doing in real estate circles, and the feeling is and bas been during the past few weeks that business wifi be slow untfi after election. Few brokers or dealers wiU admit that the result wifi affect the market, bufc it is nevertheless true that many hesitate to do any business untfi fche election is over. In the way of public sales a fair business was transacted on 'Change dui-ing the week. The notevvorthy offerings were the Bodine and Burke estates. During the coming week there wiU be few sales, except foreclosures, Among ths latter are the Cenfcral Park Apart^ ment Houses. Three sales were held at the Exchange on Monday and aU were fore¬ closures. The parcel which brought fcbe bighesfc figure-viz., $56,500— embraced a one-balf part of one lofc on the Bowery and four lots on Chrystie street, with the factory bmldings thereon. Ambrose K. Ely, plaintiff in the suit, became the purchaser. Two new bouses on Wesfc 95th street, Nos. 131 and 187, were sold for §16,300 and $16,525 respectively, which aboufc equals tbe encumbrances thereon. The Salesroom was weU attended on Tuesday, when numerous sales were held. The most important offering was several parcels belonging to the Bodine estate by Auctioneer Jas. S. McQuUlen. Five of those sold afc auction brought §193,450 and two previously sold afc private sale §39,750, making a total of $323,300. The premises on the northeast corner of West aud Beach streets, size 100x133.3, were offered first. The total rental is $17,350, and one-third interest in the plofc was the portiou sold. The bidding started at $20,000 and advanced by small bids until $70,000 was reached and the propei-fcy sold to Wm. Whaley for the estate of Nathaniel L. McCready, part owners of tbe plofc. One-half interest in Nos. 375 and 377 Washington streefc, southeast comer of Beacb street, was next put up- The rental is $5,750 to May I, 1890, and fche fii-st bid was $35,000. The highest offer was $40,000 and the buyer Mr. Whaley. No- 299 Washington street, southeast corner of Reade, which is leased to May I, 1893, at $4,500 per annum, was started at $35,000 and sold at £60,000 fco John S. Welsh. The dwelling No. 129 West 22d street and the tenement No. 186 Columbia street, Brooklyn, were not offered, having been previonsly disposed of at private contract. The dweUing was sold to Dr, RabeU for $31,000 and the tenement at $8,750. The Ravenswood property was bid in for the estate at $17,000, which is about one-half what has siuce been offered therefor. Among the dweUings sold was No. 39 East 63d street, 17,6x60x100,5, at $30,500 to Charles Maync, aad No. 68 West Washuigtou place, 31x55, at $13,000 to Tunothy Donovan. The Burke estate sale was the most important held on Wednesday. There were flve pai-cels in all, and fche 7th and 13th Wards were weU repre¬ sented iuthe crowd fchat sm-rounded fche auctioneer's stand when the sals was commenced. A total of $70,100 was realized for the five pieces. No. ti Willett street was sold for $15,000, which is an exceUent figure. Buildei-s Fay & Stacom were fche buyers, Thiu-sday's sales were few in number and ummportant in character, and the attcmdonce was very smafi. The one sale announced for yesterday was postponed. On Thursday, the Sth inst., James C. Lalor wiU sell the four-atory tene¬ ment and stores, wifch the four-story tenement in rear, at No, 349 West Slst street, by order of the Supreme Court, in partition. CONVBYAKCKS. 1886. " 1887. 1888. Oct. 29 to Nov. 4, Oct. SB to Nov. 3, Oct. 38 toNov. 1, inclus! inclus. incluE. Number........................." 339 300 385 Amount mvolved................ $7,240,a6e $6,979,605 *$10,aai,604 Nuuiber nominal................ 36 49 7b Nunibera8daniNas. 1886. im. 1888. Oct. 30 to Nov. 5. Oct-29 to Nov. 4. Oct. 39 to Nov.!. Numher of buildings............ 53 6S 61 Eatimated cost................. $630,575 $639,950 $1,446,700 * This includes one deed of $4,500,000 for the Clausen & Flanagan breweries. This amount does not represent what was actually paid for said hreweries, but the amount at which the business will be recapitalized. Gossip of the Week. Theodor Cohnfeld's stable. No. 68 Easfc 58th street, southeast eomer of Park avenue, 35x100.5, has been sold to Henry H. Rogers, of the Standard Ofi Co., for $36,000. Andrew Carnegie has leased the stable No. 135 West 52d street, with the privfiege of buying same. John D. Crimmius bas pm-cbased, fchrougn L. J. & I. Phillips, four lots on the soutb side of 68fch sfcreefc, 400 feet west of Sth avenue, from the Edward J. King estate, on private terms. These lots were offered at auction on October IStb, and two were bid in afc $10,450 apiece. L. J. & I. Phillip'; have sold for John D. Crimmins one lot on the north side of 84th streefc, 135 feefc east of Madison avenue, to Louis Stei-n for $13,000. Oppenheimer & Metzger bave sold fom- lots on the soufchwest corner of 9th avenue and I03d streefc to Albert E. Smith for improvemenfc. Col. Murphy has sold fcbe foui'-story, high sfcoop, brown stone fronfc bouse No, 11 East 3Ist streefc to A. J. Connick, the Sth avenue tailor, for $33,000. Walker Sc Annstrong have sold for James Henderson the five-story brick and stoae flat with stores oa the northwest corner of IlOth street aud Mad¬ ison avenue, .50x100.11, for $85,000, and for Hiekey & Brady a five-story brown sfcone flafc on the east side of Madison avenue, 75 feet north of 110th street, 35x65x75, for $25,000 to a Mr. Quigley. We bear that Moritz Bauer has sold the easterly front on 9th avenue, between 106th and I07th street. The particulars have not ti-anspired. Kotlowsky & Levy have purchased a plot, 80x98.9, on fche soufcb side of 35th street, 171 feefc easfc of 3d avenue, at about $45,000 foi- improvement. Prank E. Davidson has sold for W. E. D, Stokes the four-story higb stoop bouse No, 251 West 75th street, 18x57x103.3, to Richard Bigler for $37,000. Joseph Ai-thur Levy has leased the building Nos. 68 and 70 Grand street to the Merchants' Centi-al Club, of which B. Richardson is president, for a term of about five years at a yearly rental of $7,500. Chas. S. Kohler has sold for Cotter Bros, tbe five-story brick and stone single fiat No. 1714 10th avenue, lot 16.10x31.10x100 feet, to Frederick V. Osthofffor $18,000. No. 113 West 73d sfcreet, reported sold by Chas. Buek Se Co., last week, brought $62,500, not 852,500. The Mechanics' Se Tradei-s' Bank wfil remove in January to No. 486 Broadway, corner of Broome street, Hem-y Hyman and David Frank have sold four lots oa tbe southwest coi-ner of Sfch avenue and 103d sfcreet, fco Herman Masche with a loau for improvement. Henry Morgenthau has sold the three-story stone fronfc dweUing No. 119 West I31st street, to Geo. Pennefi for about $25,000. The biU of costs, etc., relative to opening 99th sfcreet, from 3d avenue to 4th avenue, will be presented for taxation to the Supreme Court on Novem¬ ber I4th. The Mayor and ComptroUer announce that they wiU give a hearing on Pi-iday, November 9th, afc 1 o'clock P. M., to parties interested in fche Col¬ lege place aud Elm street matters. The Jefferson Real Estate Company has been incorporated by Susan, Susan, Jr., Wm., Affred and Edwin Jefferson, for purchasing, improving and seUing real estate in the city, county and State of New York. Ehas J. Brown has sold the premises Nos. 517, 519, 521 and 623 East llth streefc, north side, 200 east of Avenue A, for $45,000 to A. Weinstein for improvement. Brokers, Guerineau & Drake. Ryan Bros, have sold for Geo. H. MuUer one lofc on the south side of 84th street, 175 feet wesfc of Oth avenue, 25x100, for $10,000 to Nicholas Ryan. The sale of Nos. 358 and 360 West 38th street is repoi-ted at $33,500. Brooklyn. J. P. Sloane has sold for Mrs, JuUa Munchow the two houses, with lofc 35x150, afc No. 316 Eckford sfcreet fco Thomas McCaffrey for $6,000. Corwith Bros, have sold the fcwo lots on fche northwesfc comer of Calyer and NeweU streets for J- V, Meserole to Chas. Jackson for $1,300. Paul C. Grening has sold fche two-and-a-half-story brick dweUing, I7x43x 100, No, 417a Monroe street, to A. M. Bedwin for $7,000; the two-story brown stone dweUing No. 488 Quincy street, 18x42x100, to J. S. MilhoUand for $6,800; the two-sfcory frame dwelUug No. 783 Madison street, 16.8x100, to A- Graham for $1,600; seventeen lots on the south side of Halsey street, between Ralph and Howard avenues, to J. Hopkins for $19,000; lot 35x100 on the east side of Grand avenue, near Lafayette avenue, to J. H. Rodgers for $3,000, and the two-aud-a-baK-story brovin stone dwelling No. 489 Monroe street, 16i42ilC0, t« E. I. Snyder lor $8,000.