The Record and GuidE.





January 12, 1884





Morningside Park is completed the property immediately adjacent, both
above and below, ought to be very des'rabie for residences, and will com¬
mand a high figure, if, iu the meantime, there are no tenement houses,
stables or nuisances erected thereupon.





The Southern Pacific and Its Future.

"I have returned to New York to stay," said William M, Lent to tho
writer. " I have bought a house on Fifth avenue, and my family will
soon join me from San Francisco."

"What is the matter with San Francisco, Mr. Lent; is it not thriving'?'
" Never in any former period bas it increased in population and wealth
so largely. Tbe mining fever seems to have subsided, for a while, at least,
hut the three great factors which are adding so much to tbe wealth and
importance of the City of theiGoiden Gate are grain, grapes and fruit.
The wharves of the city are thronged with drays conveying grain and
other agi'icTiltural products to fill tbe vessels loading at the docks. Tbe
city is stretching westward to tbe Pacific Ocean, which, with the aid of the
cable-cnrs, is now within a half an hour's ride of the business part of
San Francisco. By the way," continued Mr. Lent, " you ought to have
that cable system in New Tork. It is in every way superior to tbe horse-
cars. It it the most comfortable mode of transit and much swifter than
horse-power,"

" Then, why are you leaving San Francisco?"

" Well, New Tork is the great centre.   It is the headquarters for all tbe
enterprise of the country.   There is not much for an idle man like myself
to do in San Francisco,   My old associates in mining matters are scattered.
The Palace Hotel looks gloomy to was it was in the old times, and even
the once crowded billiard room has lost its attraction.    So I have rented
my house there to Mr. Flood, and propose to end my days with my
family in tbe metropolis.   There is one point that struck me in my recent
trip across the Continent, which may probably interest tbe readers of
The Record and Gdide,   I came to New York by way of the Southern
Pacific route; that is, through Southern California, Arizona, New Mexico,
Texas, and then by the Missouri Pacific and Wabash systems to New York.
There is only half a day's difference as compared in time with tbe Central
and Union Pacific routes, but tbe journey is a far more comfortable one,
I waa amazed at the enormous business of the Southern Pacific.   Every
train seemed crowded, the freight cars weie endless, and eve^y depot was
a scene of great activity.    I was particularly impressed by the substan¬
tial improvements   taking place   in Texas.     All the roads seem   to be
doing an unusually large business,    I think people make a mistake pay¬
ing so much attention to the northern regions when  such a spL^ndid
country is open for settlement like that along the line of tbe Southern
Pacific Road and its connections South and East,    It produces everything
that can be grown in a northern climate, and in addition cotton, fruit
and^grapCE,    Its advantages for cattle grazing and sheep breeding are
ever so much superior, as there  are  no  long winters in which it is
necessary to shelter stock."

" I recall," said tbe writer, "an liiterview with you in The itBCOHD ahd
(jDiDBin 1882, in,which you predicted'tnt.t ITnion Pacific and Centraj
Pacific stock was destined to fall off very greatly in value. Indeed, you
thought these roads might yet be abandoned by their owners and turned
over to tbe government for thedebts due the latter."

" Yes," was the reply. " I recollect that interview was published very
widely, especially in the Californian papers, and I was criticised therefor,
but if I bad gone short of the stock at that time, and remained short, I
woidd have made a great deal of money. At the date of that intei view
Union Pacific was selling at 117, and Central Pacific in the nineties. See
where they are now."

" Do you still bold tbe same view V

"Substantially," was tbe reply. "The Union Pacific has since been
paralleledito Salt Lake City by tbe Denver &.Rio Grande, and a new com
pauy bas, I bear, been organized which will build east, from Oakland to a
pass in tbe Sierra Nevada, where it will run through the Bodie region and
the best mineral section of Nevada, and join a mad building west
from Salt Lake, thus paralleling tbe Central Pacific and running through
a far finer section of country. As the stock and bonded debt will be much
smaller than tbat of the Central and Union Pacific roads, the latter will
suffer very greatly. By the way, I may say here that I think, on public
grounds, the United States government should allow the Southern Pacific
the 15,000,000 acres of land in dispute. It is tbe interest of the railroads to
sell to actual settlers. They want to populate tbe country and develop its
business, so as to help tbe bonds and stocks of their roads. If the govern¬
ment retains tbe land it will get into the bands of speculators, who will not
Improve it, bnt will make artificial desert; of the region through which the
railroad passes. There has been a good deal of unmerited abuse heaped
upon Messrs. Stanford, Croker, Huntington and the other owners of the
Southern Pacific system, but I say they are public-spirited citizens, who
will be held in high esteem when tbey have passed away, for tbe good
work they have done. They have constructed great systems of railways
through regions tbat needed development; they have discouraged specula¬
tion in land, but have always favored actual settlers. Tbey have spent
large sums in developing the great grape industries of California, and to
Mr. Stanford must be accorded tbe particular credit of organizing a street-
cable service for San Francisco, which puts that city ahead of New York
in the matter of inter-mural travel.





The Ulster & Delaware Railroad Co. wanted some of Mr, Frederick W.
Gross' land for railroad purposes, and made him an offer, which he did
not take; so commissioners were appointed, and then the railroad claimed
that as tbey bad made Mr. Gross a bftter offer beforehand than he ulti¬
mately received from tbe commissioners, he must pay the costs, but the
Supreme Court, after hearing Mr, Wm, Lounsberry in behalf of Mr, Gross,
decided that aa the constitution provides that private property cannot be
sken without just compensation, the expense of taking it can never be





charged against tho person whose property is taken. For example it
nftght happen that the land taken would not be worth more than tbe ex¬
penses of the commissioners; and if the owner of the property had to pay
these, he would get nothingat all for his land, and whenever he is made
to pay such expenses be fails to receive just compensation to that
extent.





The Real  Estate Exchange.

At a recent meeting oC the directors of the Real Estate Exchange and
Auction Room (Limited) the following resolutions were proposed:

Resolved, That a committee be appointed, composed of stockholders of
The Real Estate Exchange and Auction Room (Limited), which shall be
knoTvn as tbe " Special Committee ou State and Local Legislation,"

Resolved, That to this Committee shall be confided the work of effecting
such reforms in our laws as will relieve owners of really and taxpayers of
unjust burdens imposed upon them.

Resolved, That this Committee be requested to keep the following objects
in view:

I.  Such amendments to our city charter as will give us a responsible and
economicalgovernment.

II.  Such changes in our laws as will facilitate and cheapen the transfer
of real estate, so tbat the owners of realty shall have the same advantages
now possessed by owner.-i of personal property,

III.  Such amendments to the laws as will increase the construction of
safe and durable buildings and at the same time protect the health of the
community by wise and sanitary regulations.

Tbe object, which it was hoped would be effected by the above resolu¬
tions, would be to utilize tbe large and infiuential membership of tbe Ex¬
change in procuring needed changes in the laws looking towards better
local government, and a reform in our land laws. It is hoped tbat after a
definite plan has been agreed upon that negotiations should be opened with
all tbe leading clubs of tbe metropolis as well as the various real estate and
reform organizations to help all measures looking to responsible govern¬
ment and reform in the laws affecting real estate. It is understood that a
sufficient number of signatures has been secured to authorize the purchase
of tbe site in Liberty street, which will be completed during the com¬
ing week, when a call for 30 per cent, of the subscription will be made to
meet the first installment which will be due February lOtb,





Is There Water in the Cellar?

Mrs. Greenman bought a house from Mr. Watkins, and the evidence
showed that the latter told her that there had never been any water in the
cellar before the time when she bought it: tbat the water there then was
in consequence of a freshet in tbe river. Mrs.[G. proposed to go around and
enquire among the neighbors about it, but Mr. W. persuaded her not to,
telling her there was no use of tbat, that he bad knov?n the place as long
as the neighbors, and that he would not lie to her; and she took his word
for this. There was also evidence that water had been in tbe cellar before.
So the Court set aside tbe deed onthegroundof fraud, and let her free from
her purchase, and the General Term of tbe Supreme Court, Third Depart¬
ment, has lately affirmed that judgment in ber favor, Mr. A. P, Smith
appearing as her counsel. We imagine that such suits might often be
brought successfully.





A Neiv Gas.

It appears that the processes whereby light and beat can be obtained
have not yet been exhausted. A new gas, made of petroleum, has now
b en discovered. Mr. W. Jennings Demorest, who greatly ^interests him¬
self in new inventions, stated to a reporter of The Record and Guide
that it can be supplied at half the price of ordinary gas—say for about
one dollar per thousand feet—though the cost of production was of course
much smaller, it gives a pure gas, free from smoke, and will not con¬
dense in the coldest atmosphere. It can be placed in every house, and does
not require any main pipes or tearing up of the streets, as it is supplied
from a easometer, in which it is compressed. It does not waste and gives
a good clear light, quite equal, if not superior, to coal gas, Tbe gasometer
can be placed in every house in the same spot where tbe meter now is.
The new gas is also effective in producing heat. The machine for making
it is quite simple and inexpensive. A thousand feet can be turned out in
fifteen minutes or less by an easy process. The apparatus cocts about §100,
and enables people to m^ke their own gas. It has been supplied to many
bouses, where it ia working successfully.





Obituary.

John H. Harnett, the well-known real estate broker and auctioneer
brother of Richard V. Harnett, died yesterday at 9.45 a.m. He had been
sick for some time of peritonitis, which developed into pneumonia, which
resulted fatally, M"-. Harnett was 5^ years old when he died. He left a
wife, who was the daughter of Constantine Bossweg, of 5 Maiden lane, but
no children. Mr, Harnett was an active business man in his day, and was
once a candidate for Judge cf the Marine Court on the Democratic ticket.
He was in the real estate business as an auctioneer for about a year. He
will be buried on Sunday from his late residence on Sixtieth street.





When the lawyers wake'up to the fact that it is to their interest to les¬
sen tbe trouble and expense on transferring titles to land, real estate own¬
ers may have some hope of soon obtaining relief. At the seventh annual
meeting of the New York State Bar Association, which "was held at Al¬
bany last Tuesday, 8tb inst., among other interesting transactions
there was adopted the following resolution, offered by Mr, JobnB, Pine of
New York:

Resolved, That the committee on law reform be requested to advocate,
without delay, before the present Legislature, the passage of an act
amending the acts in reference to tbe registration of titles and encum¬
brances of land, in accordance with the action of the asBociation at its last
meeting.





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