836





The   Record  and   Guide.





June 18, 1887





we can be afc least even with it in point of cost, we shall compete at a disad¬
vantage. Hence the question whether our railroads should be suffered to
make special rates on Asiatic produce in transit for New York or Liverpool
really involves the much simpler question whefcher or not it is fco our advan¬
tage fco attract Asiatic trade this way. If it is not, why, then, of course
Senator Reagan is right in insisting that the Southern Pacific's tariff on tea
from Shanghai to New York shall be the same proportionately as its tariff
on a chest of tea from San Francisco to Martinez. But if it Is desirable
thafc the commerce of fche world should flow through this country, nofc onlv
by reason of the profifcs to accrue from handling goods and of the employ¬
ment thereby offered to labor, but Ukewise because San Francisco and
New York, which are now way stations in the traffic between Shanghai
and Liverpool, will presently become terminal sfcations and disfcributing
centres for the produce of Asia on the one side and Europe on the other, in
that case attempts fco make casfc-iron rules fco govern fche carriers who are
fighting the American hafcfcie musfc be considered ill-judged.—San Fran¬
cisco Call.

The Railroad Problem,

We look to see a combination, within the next ten years, which will
include all the East and West railroads in the United States in one
company, and a combined petition to Congress asking that they may all
be placed under one central control. The argument for such a combi¬
nation, from a railroad standpoint are so manifesfc fchafc it will not be
strange if half a dozen master railroad spirits unite and make the effort
at any time. Indeed, C. P. Huntington has already hinted that such an
arrangement should be made. For example, running out of Chicago fco
the wesfc, norfchwesfc and soufchwesfc there are four great lines of road,
namely: The C, B. & Q., the Chicago & Norfchwesfcern, fche Chicago,
Milwaukee & Sfc. Paul and the Chicago & Rock Island. These roads
now have a mileage of about 17,000. They all have separate offices; all
are paralleling each other's roads; they frequently become involved in
quarrels, and run their roads at ruinous cut-rates; they each have fco
keep special agenfcs in all the greafc cifcies easfc and wesfc, and fche expense
of adverfcising their fines in one form and another is something enormous.
Suppose fchey were "consolidated into one company. One sefc of agents
and employees would do all their work in Chicago; one round house
and machine Jshop would suffice for their work; tbey would be able to
take up probably 2,000 miles of parallel track; they would need no agents
abroad, for anyone going into their territory would have to patronize
some portion of fcheir lines; probably fchey could save ten per cent, of
their gross expenses annually. If they were combined and with them
some eighfc more lines easfc and wesfc, fche saving in acfcual cosfc to the
owners would amount to a sum which would enable them to reduce
the rate of freight and passengers probably twenfcy per cent. This
is what we suspect they will decide upon doing one of these days. It
will be either this, or there will be a proposition for the government to
take the roads and consolidate them into one single sysfcem—fco issue
bonds for aU their indebtedness and cost and to conduct the roads.
Bonds payable yearly for a hundred years would enable the government
to place fares and freights at figures which would just pay expenses,
interest and 1 per cent, of the bonds for a sinking fund. This would
make ifc possible to reduce fares and rates 33^ per cent, the first year,
and more (and more in each succeeding year untU the cosfc would be
reduced to a minimum. If ever the workingmen's party assumes a con¬
trolling national importance this will be one of its demands. Meanwhile
the raih-oad problem has become the most momentous oneT in the
Republic. As it is, men in the West predict that George Gould wil), if he
fciies as his fafcher has, be worfch $1,000,000,000. Ifc is expecfced he will
acquire fchat sum by railroad earnings and speculations. To do ifc he will
not have to work as hard, or be as shrewd as his father has; provided, of
course, the laws shall not be changed. It is dear enough that no one man
ought to draw from the earnings of others a sum like that. How can the
evil be met aud arrested is the problem which now confronts the Americau
people. Will it be by permitting the roads to consolidate, then prevent the
building of parallel roads aud limit the charges to actual expenses and a
shght interesfc ou the z-eal cost of the roads, or will it come through the
government assuming the ownership and control of the roads? It is a clear
case that as matters are now progressing it will not be many years until
the i-ailroads will be a power which will be a menace to tbe government
itself. They are drawing to their support the brightest minds in the laud.
They are entrenching themselves in every way. They have unlimited
means, for the whole public steadily contributes to their coffers. In a
lifctle while it will be a question whether the nation shall own them, or
whether they will own the nation.—Salt Lake City Tribune.

High License at Its Best,

Missouri has been fortunate in placing upon its statute books the most
comprehensive high Ucense law in force in any State in the Union. The
features of this law have been offceu commenfced upon, bufc even yefc all of
them are nofc known generaUy, or righfcly infcerpreted. The success of the
law in reducing the number of saloons in the State to 3,934, and in bringing
in a large revenue to the State and the county treasuries is esoecially
encouraging to those States which have adopted high license measures the
present year. The results achieved and the pecuUar features of the law
become a matter of special moment now that this Stafce aud cifcy are so
soon to pufc in force a new restrictive measure. The Missouri statue makes
no distinction between a license to sell spirits and one to sell wine or beer.
The price for a State license can not be less than $550 nor more than $1,200,
the county courts being aUowed to fix the sum within these limits. But in
addition to the State Ucense municipalities are allowed to impose a second
license. Statistics show that many of the towns improve this privilege by
placing the price for a Ucense at almosfc prohibifcive figures. Thus, in
Boon'sdUe ifc cosfcs $600 for a town license, and, as the fee for a Sfcafce license
in the counfcy is $800, fche privilege of keeping a saloon in Boonville cosfcs
$1,400. Town Ucenses in ofcher places are higher fchan fchis even. Canton
and CarroUton charge $1,000, Columbia $3,0U0, Fulton $1,5 JO and Mexico
$1,603 in addition to the Stafce Ucense. The enfcire revenue derivsd from
fchese fees for Sfcafce Ucenses and paid into fche Sfcafce and counfcy treasuries
amounted last year to $1,533,594, but the returns for town Ucenses are
not given. As comprehensive, however, as the law is, ifc is recognized
that improvements can sfciU be made in ifc. One suggesfcion is to allow
in all cities of over 20,000 people a division of the city into license
districts, with one saloon to each district, and the privilege for keeping
this saloon to be sold to the highest bidder at aucfcion. This would cor¬
rect the manifesfc injustice which now compels a saloon in the thinly
settled parts of a city to pay the same fee exacted from a saloou in the
most populous districts. In view of the facfc that the Federal government
may possibly stop taxing whisky and beer before many years, ifc has been
proposed fchafc fche Missouri Legislature begin to consider measures for
turning this tax into the State Treasury. As it would pay aU the
expenses of the government and extinguish the-Sfcafce debfc besides in a
few years, ifc may be taken for granted that the tax wUl not be aUowed
to lapse if the general government reUnquishes ifc. Missouri's High
License law and the suggestions made towards its improvement deserve to
be carefully studied by those States which are soon to take a new sfcep
towards restricting the Uquor traffic.—Philadelphia Press.





The recent discoveries of natural gas in large quantities, the improved
methods of utilizing crude pefcroleum, and the introduction of elecfcrie
motors cannot fall to have a decided effect upon the distribution of manu¬





facfcuring indusfcries. The large manufactories of fche country for many
years centered naturally about the regions where coal was mined or those
places to which it could be carried by water transportation. But coal as an
essential factor in producing motive power has lost its place, and natural
gas is rapidly supplanting it. When found in large quantities the gas is
much cheaper than coal, and a great saving is made in storage room.

--------•--------

Real Estate Department.

Business has beeu rather quiet during the past week, and sales have not
been numerous. H avy negotiations have, however, been going on in the
brokers' offices and some important transactions have been closed, as will
be seen by the gossip column. In the Auction Room business has not been
very active, but at the two important partition sales the bidding was brisk
and fche prices obfcained were satisfacfcory. The markefc, on fche whole, is
taking on more and more of the aspect of summer dullness, and this will
characterize it from this time on.

Both the conveyances and the moi'tgages of the week show an extraor¬
dinary increase in number and fche amount involved over those of the cor¬
responding week in 1886, and in the annexed districfc the conveyances
involve more fchan four-and-a-half times as large a total. In the number
of projected buildings, as compared with those of the corresponding week
last year, there is a falling off.

There was nofc much done at the Exchange on Monday. Two lots on
llth avenue, north of 49th street, and one lot on 49th sfcreefc, wesfc of llfch
avenue, were sold. The former broughfc $4,475 each and the latter $4,000.
The frame house and seven acres of land at Crugers, N. Y., known as
"Laurel Hill," went to P. J. Southwell at $4,950, and four lots on Gerard
avenue, 23d Ward, brought from $465 to $475 each.

Tuesday was a busy day at the Salesroom, the attendance being large
and the sales numerous. The most imporfcant were the Lee estafce sale and
thirty-three lots in the 24th Ward. The former was eagerly bid for and
$49,275 were reaUzed for five parcels on Grand, Water, HamUton and East
10th streets and Centre Market place. A total of $26,065 was obtained for
the thirfcy-fchree Fordham lots, which were situated on the Kingsbridge
road, Marion avenue and Brookline sfcreet. Eighteen lots on 9th avenue,
Emerson and Dyckman sfcreefcs (12th Ward) were sold afc from $355 fco $520
each, and the four-story brown stone double flafc Nos. 313 and 315 Easfc 56th
sfcreei, with plot 50x146.10, went for $34,000.

On Wednesday there was no city realty offered afc aucfcion. The
residence and grounds of fche lafce George P. Nesbifcfc, at Strawberry Hill,
Stamford, Conn., were sold for $14,950 to John CampbeU. Auctioneer R.
V. Harnett stated that the properfcy cosfc over $80,000.

The Exchange was well afctended on Thursday and fche sales were-quite
numerous. The Bowne estate sale, by order of Court, in partition, was the
most important held and $336,450 were realized for the entire property.
For the premises on the northwest corner of Franklin and Varick streets,
103.9x87.7, with old buildings, there was quite a contest. The firsfc bid
made was $65,000, and small advances were offered unfcil $105,500 was
reached, afc which figure ifc was sold to EU Sink, ifc is reporfced, for Minofc,
Hooper & Co., as a sifce for a handsome sfcorage warehouse. The two,
three and four-story buildings Nos. 524 and 526 Pearl streefc, 37.11x100.3x
6i.6xll0.4, which are leased to May 1, 1890, at $1,000 per annum and taxes,
were sold for $26,100 to John Hooper of fche Colwell Lead Company, who
now occupy fche premises. Tbe four-story brick store and dwelUng No.
678 Sth avenue, southeast corner of 43d sfcreefc, wifch lofc 20.4x80, was sold
for 137,600. A similar building No. 674 Sfch avenu • wenfc for $24,500, and a
lofc adjoining on 43d sfcreet, 20x80, brought $9,700. Three new threestory
dwelUngs on West 82d street were sold under foreclosure at from $17,700
to $18,100, which is a few thousand dollars over fche amount due on fche
firsfc mortgages.

Only one sale fcook place afc the Exchange yesterday.

James L.Wells wiU seU on Tuesday, June 21, to close the estate of George
Banks and E. T. Prend, thirfcy-fcwo choice lofcs afc Fordham, on Bainbridge
and Briggs avenues, near the Harlem RaUroad station, and stores, schools,
churches and city conveniences, affording an unusual opportunifcy for
invesfcmenfc in an atfcracfcive, improving and very promising neighborhood.
The fcerms will be easy and fche fcifcle will be guaranfceed by poUcy fee of cosfc
to the purchaser.

James L. WeUs wiU seU on Wednesday, June 23d, the handsome residence
and twenty-seven choice lots belonging to the estate of Dr. Henry L.
Horton, in the besfc parfc of the 23d Ward, on Franklin, Boston, Jackson,
Forest and Union avenues, in a rapidly improving neighborhood and ou
the line of the 3d and Boston avenue horse-cars and near the Morrisania
station of the Harlem road and the proposed station of the 3d avenue
elevated raUroad.

Richard V. Harnetfc will seU on Thursday, June SSd, the four-story, base¬
menfc and cellar brick dwelling and lot No. 137 Easfc 15fch sfcreet, convenient
to the elevated station afc 3d avenue and Wth street.

James L. Wells wUl sell on Tuesday, June 28, by order of the Superior
Court, in partifcion, the three-story and basemenfc brown sfcone residences
Nos. 165, 169, 187 and 196 Alexander avenue, befcween 134fch and 137fch
sfcreefcs, and Nos. 633 and 635 Easfc 134th street, near Alexander avenue,
each 16.8x40, in an exceUent neighborhood^and close to horse cars and the
elevated sfcafcion.

James L. Wells wiU seU at 2 p. M. on Wednesday, June 39, by order of
fche Supreme Courfc and others, at Ravenswood postoffice, near the prop¬
erfcy, eighfcy-seven lots at Ravenswood, in the 3d Ward of Long Island City,
near the East River, opposite 64fch sfcreefc, convenient to aU ferries and in a
manufacfcuring cenfcre.

CONVBYANCKS.

1886.                                  1867.
June 11 to 17 ino.        June 10 to 16 inc.

Number.........................................              272                                    34.5

Amount involved.............................  $4,633,369                        :$7,405,682

Numbernominal.......    ......................              38                                     7t

Number 83dand 84th Wards..................              47                          ^„„J^

Amount involved............................      $89,626                             $396,90J

NuiabOT nominal...............................              4                                        8