566





The Record and





Investor—How about the *' chapter of accidents," or the " un¬
expected ?"

Sir O,—A foreign war would cause a temporary depression and
injure our cotton market, but it would enhance the price of grain
and help our manufacturing industries.

Investor—On the whole, then, you are hopeful ?

Sir 0.—Certainly. The pendulum ought to swing in the direc¬
tion of higher prices ; it has been for so long a period on the other
tack. We may also import some gold this fall, if there is no disas¬
ter to the cotton or corn crops ; at any rate we will be so near it
that money cannot be very high priced when the usual autumn
pinch comes. We have in our favor: (1) Plenty of animal
and vegetable food. (3) A low range of stock values due to a two
yeirs'liquidation,    (3) A  full, though not a redundant currency.

(4)  A laboring  population very generally employed at fair wages.

(5)  No pestilence within our borders, and nodangerofforeignwar.

(6)  An enterprising, sanguine community, determined to make
money if industry and pluck can do it. (7) A rapidly growing
population whose increase is steadily adding to the value of land,
the base of all wealth.

Investor—So far, so good. Would you advise me under all
those favoring circumstances to buy stocks speculatively?

Sir 0.—No. When you feel like doing so, recall Punch's advice
to those contemplating matrimony—" Don't,"





Over the Ticker.

a OOD for Henry Clews.    He compares the stock market  to a
dude, which, however  well it looks, is reallj   weak in the
legs and without a good spinal column.





fciT^HERE is nothing like leather," says  the proverb, but the
J-    failures in the shoe business during the  past week  shows
tbat there are soft spots even in that tough substance.





SECRETARY FOLGER'S call for all the remaining SJ^ per cents,
will be a sensible relief to the market when money is needed
to secure the crops. Then there is some expectation of gold im¬
ports.

EBADING is surprising everyone by its steadiness. That stock
has a great future. When the connection ia made with the
New York Central, its coal mines, iron works and roadbed will be
fully employed.

OVER six hundred million of new securities have been put
upon the market since January let. During the same period
nearly two hundred million of American securities have been re¬
turned from the other side.





HENRY N. SMITH & CO. have been in Saratoga trying to
persuade William H. to take a band in a bull stock spec¬
ulation, but the son of the Commodore don't see it; he has been
worried enough in Wall street, and wants to drink his Congress
water in peace and quietness.





THERE is one good item of news from tbe South. The sum¬
mer travel on the railroads has been extraordinarily large.
It is uow possible to travel in that section cheaply and comfortably,
and as the new summer hotels in the mountains offer board at rea¬
sonable rates, summer guests have been attracted from every
quarter.





THE Yellowstone jamboree is intended to advertise the North¬
ern Pacific when the line is completed. President Arthur
is to be a chief figure in the show. If the stock is whooped up it
will be a good time to short it. There is no bigger speculative
bubble on tbe stock list.





The Probate Court of Cook County, Illinois, haa juat rendered a
decision of great interest to husbands whose wives own large hold¬
ings of real and personal property. Martha J. Zimmerman, dying
intestate, her husband laid claim to a dower right in her estate.
The court decided tbat under the laws of Illinois his claim waa a
good one, and one third of her personal estate became his. The
court held that even if the wife made a will, she could not alieni-
ate the property from her husband any more than the husband
could deprive the wife of her interest in his estate. The court,
however, further decided tbat while alive the wife could do as she
wished with her property, and sell it without the consent of her
husband, and using the proceeds as she pleased, hence the dower
right was not absolute, but became valid only on the death of the
wife. The wife's dower right was, however, absolute, and the
husband could not sell his real estate without her consent.

These dower rights, either for husband or wife, are wholly
indefensible. They are a legacy from an age where tha wife was
wholly dependent upon the husband and when the only property
was realty.    The large and small f ortuaes of our present era con¬







sist mainly of bond or  stock securities, which are transferable

without the consent of the conjugal partner, A widow should
have the claim on all her husband's estate, but the dower right in
her realty is an impediment to business and of value mainly to law¬
yers. The frequent disagreements between husband and wife
embarrass the transfers of property, obscures titles, and leads to
needless and wasteful litigation. Our laws on this subject need
revision so as to relieve the real estate business of a grievous and
unnecessary burden.





The failures in the shoe business in New England are unfor¬
tunate at this time, when trade was beginning to revive. It is oue
among many indications that the shrinkage in prices has seriously
crippled many great manufacturing firms. Indeed the dulness
on the Stock Exchange has been telling tbat story for some time
past, for it is active business men and manufacturers who are the
best customers of the stock brokers when times are good and there
is a profit in sales. There is, however, au unmistakeably hopeful
feeling in the great dry-goods interest. The larger dealers are
satisfied that hard-pan has been reached, and that from this time
forth there will be a steady improvement iu prices and business.
The country bas been enriched by two good harvests, and though
firices are not satisfactory there will be a large demand for goods
of all kinds.





Editor Record and Guide :





Deai. Beach, N. J., July Slst, ISfiS.





I have been summering here with my family, since early in June, and
expect to remain until the middle of September, running into town Mon¬
days to look over the list of delinquents (our bupiness being largely the
collection of rents and care of estate?), which I commenced in a small way
in June. 1853, just thirty years ago, always, however, arranging for a rest
during the month of August, and of late years the entire summer. I
always read the Record carefully, but I bring it down here Mondays and
read it even more so now. I have taken it from the commencement, when
I think the list of subscribera wa'; small, like my real estate business was
in 1S53; but you have persevered with it and given it your time and attfn-
tiou till it has got to be a necessity to us all in tbe business, and you have
made it such a reliable record that it is of great assistance, as we are con¬
stantly referring to it, and have the entire publication from the beginning.
I must also say that only yesterday I was quoting from one of your
editorials, aud I flud myself doing so frequently, and those on subjects
that I feel I know a little about, I have found them temperate and sound;
and as to matters outside of real eatate with which I have not been fami¬
liar, you have given me information and instruction. Hoping it may
prove a fortune to you I remain, yours sincerely,       Wm. H. FaLCONER.

P. 8.—As an item: My son Wm. W, is summering at Madison, N. J.,
coming to business daily.

The above letter is printed just as it was written, and shows the value
placed upon tbe Record by one who remembers its infancy, and has care¬
fully watched its growth from that time to the present. It is a sincere
pleasure to receive, unsolicited, Ifitters of this kind from subscribers nho
were with us the flrst year of the Record's existence, and we are glad to
say there are a goodly number of them yet on our boohs.    Long may they

live.                                                                                                  Editob.

----------»------~—

The ofBcers of the Eighth Regiment N. Q. S, H". T. have petitioned the
Commissioners of the Sinking Fund for a site on which to erect an
armory, the last Legislature baying appropriated 8100,000 for that pur¬
pose. The officers state they have made careful inquiry and diligent inves¬
tigation and find that the following plots (eicher of which is suitable) can
be purchased: plot on the north side of Fourteenth street, 100 east of Third
avenue; plot northwest corner of Seventh aveuue and Thirty-seventh
street; plot northeast comer of Seventy-fifth street and Fourth avenue;
and plot northwest corner of Thirty-third street and Lexington avenue.
The petition was referred by the Commissioners to the Comptroller to ex¬
amine and report at an early day.





A New Veneer.

Builders, architects and others will be interested to learn of tbe 6*-'
istence of a veneer recently patented, which bids fair to be very largely
used in the future for internal and external decoration. The new mater--
ial has been styled "Marble Veneer," and is the discovery of an old Ger¬
man machanic, with whom a representative of the Recobd and Guide
had a talk at the workshops, Nos. 324 and 236 Centre street, and by whom
he was shown a number of highly polished columns, mantelpieces and
other articles which, except to the eye and touch cf an expert, appeared
to be solid marble. Imitations of different kinds of wood were shown,
and some pretty specimens of workmanship seen, a panel being especially
noticeable, representing a stork in the water, surrounded by bulrushes,
and holding a newiy-caught flsh in its mouth. Tbe patentees claim
that Marble Veneer is fire-proof and water-proof, that it will not break,
craclr, peel or shrink. Oae piece of wood was shown, covered with
the veneer, which had been ten days in wator, and which was appar¬
ently uot effected by the immersion. The veneer is applied to uneven as
well as even surfaces, and is used for columns, pedestals, Dalusters, mould¬
ings, tilings, and so forth, which are given tbe appearance of real marble.
A similar veneer is said to have been used in Munich in 1830, and in a room
in one of the royal palaces of Bavaria, and is at present to be seen in an ex¬
cellent state of preservation. Marble veneer seems to bs specially adapted
for wainscoting; it is made to appear like auy kind of wood, and all
colors and almost any material can be imitated. It is applied to metal,
stone, plaster, wood aud cement. Though but recently introduced, it has
already met with encouroging success. Several architects of standing
have expressed a hi^h opinion of its appearance and usefulness, and pro¬
pose to use it. The great point made by the patentees, the Marble Veneer
Company, is its inexpensiveness. As to its value and uiility, builders,
architects, and others can best judge by paying a visit to the workshops
and examining the material for themselves. An opportunity will also be
dffordod of seeing it at the offlce of Charles Putzel, 141) Nassau street, who
is t;he_attorney of 'he company, and who is about to have his rooma fitted
up with some elegant mouldings and wain scot ijiga of the ysuQer.