Real  Estate   Record





AND BUILDERS' GUIDE.





Vol. XXVII.





NEW YOEK, SATUEDAY, MAECH 12, 1881.





No. 678





Published Weekly by





TERMS.
ONE YKAR, in advance___SIO.OO.

Communications should be addressed to





J. T. LINDSEY,
Business Manager.





C.  IV.  SWEET,

No. 1.37 Bkoadwav.





ABOUT OURSELVES.

On Saturday, the lOth of March, The Eeal
Estate Eecord will enter tipon the four¬
teenth year of its existence. It was started
in what were apparently prosperous times,
when real estate commanded high figures
and speculation was rampant. Our four¬
teenth anniversary will be signalized by a
new departure in several respects. In the
first place, The Record will appear in an
entirely new dress, and will, we tmst, pre¬
sent a handsome typographical appearance.
The price hereafter will be $6 per annum,
instead of $10, as heretofore ; single copies,
15 cents. The reduction, a very considera¬
ble one, will be made without curtailing
any of the departments in this j)ublication>
On the contrary, we expect to add very
greatly to the interest of the paper by add¬
ing new features. What they will be our
patrons will discover in due time, for we
prefer to be judged by what we do rather
than by what we promise.

We also contemplate publishing an addi¬
tional sheet, to be issued on some o+her day
than that of The Record, which will be
devoted more exclusively to matters affect¬
ing real estate situated in the immediate
vicinity of New York. It will also contain
much that will be of the utmost value to
business men generally, and all subscribers
to The Record who have paid for their sub¬
scriptions will receive this paper free.





Harlem people are in trouble. They com¬
plain that rents have advanced from 15 to 30
per cent. There are, it seems, sufficient new
buildings to accomodate ten thousand ad¬
ditional people who may care to live in tliat
part of the city. Some of the tenants ai'e
turning their eyes towards Brooklyn, only
to find practically the same condition of
things, while others will cross the Harlem
River. But turn about is fair play. Ths
tenants had the best of it up to last year and
the upward surge of rentals was to have
been expected. Everybody is making more
money than he did two years since or for
many  years previous,   and  the  landlord





shares in the general prosperity and rise in
prices. Rents will be much higher before
they are lower everywhere.





Besides the rise in rents, residents of Har¬
lem have another complaint. The store¬
keepers are suffering. The elevated road,
although it brings population to the upper
districts of the city, injures ths storekeeper,
as customers prpfer to deal in the larger and
cheaper establishments down town. This
paper has always pointed out that the ten¬
dency would be to concentrate trade in the
2;reat down town establishments. The L0-
cal Beporler of Harlem is authority for the
statement, that there are more dispossess
warrants in the hands of the Ninth District
Court than was ever before known. These
are mostly against the occupants of small
stores, who have found their business un¬
profitable during the past year.





HOW THE   NEW   CABINET   AFFECTS
NEW YORK.

It is not the province of this journal to
discuss matters political, except so far as
they affect the price of real estate and secur¬
ities generally. A few words may not be
out of place, touching the influence of the
new administration upon the trade of the
country and the probable price of realty.

James G. Blaine, the Secretary of State,
believes in the rebuilding of the steam ma¬
rine of the United States. He is anxious
the country should again have a commerce
of its own, that is to say, that our immense
exports and imports should be carried iu
vessels which bear the American flag. He
favors subsidies, so as to encourage steam¬
ship lines to all parts of the world. So far,
therefore, as tho influence of James G.
Blaine can be exerted, it will be directly in
favor of adding to the wealth of the metrop¬
olis. For every steamship line will pay its
tribute to New York, and nine out of ten of
the new American ships, will clear from
this port and add to the profits of our mer¬
chant princes.

Secretary of the Treasury Windom is the
sworn foe of corporate monopolies. He be¬
lieves in some oversight by Congress of the
transportation lines, so as to protect the
trade of the country against extravagant
tolls. If he should succeed, it will make
business more profitable by freeing trade
from the heavy exactions of the railroads.
But Secretary Windom has made a special
study of water ways, as competitors against
railroads, to keep down prices. In exhaus¬
tive reports to the Senate of the country, he
has shown how the lakes, the Erie Canal,
the Hudson River and the Mississippi, can
be utilized in the interest of trade and to
protect the commercial community against
the heavy charges of the railroads. Some
of his views may be deemed extreme or ex¬





travagant, but obviously all his efforts will
be in a direction that will enhance the value
of merchandise, increase the trade of the
country and incidentally benefit the com¬
merce of this great port.

Then, President Garfield is outspoken in
his determination to add to the commercial
importance of the United States.   Then, this
cabinet is strongly bi-metallic.   It   favors
the using of both silver and gold.   Secretary
Blaine is as earnest on this point as are any
of the silver men of the West.   A bi-metallic
conference is about to meet in Paris on the
19tli of April.   It is to determine the ratio
between gold and silver. . It will recommend
free coinage of silver, the world over.   Of
course, the action of the conference must be
referred   to   the   respective   governments
xvhich send representatives.   But  there is
scarcely a doubt, that if there is anything
like a unanimous agreement, all the nations
will glady consent thereto.   The mere fact
of an agreement however, without ratifica¬
tion, will enhance the price of silver to very
near the ratio determined upon.   As all ad¬
ditions to the currency give a "fillip" to
prices, we may expect it will be followed by
a stimulus to business the world over.   As
the United States is the greatest silver pro¬
ducer among the nations,  stocks will be
bulled and the markets wUl all advance.
Our experience previous to 1873,  showed
that silver was undervalued in the standard
dollar of 412V^ grains, for the white metal
left this country for the Latin Union, where
the valuation was 3 per cent higher for silver.
There is a current impression due to the
amazing ignorance of the writers on this
subject in the daily press, that the normal
relations of silver to gold would demand
more silver in our dollar; but it will be found
when the conference meets, that it   will
adopt either the American ratio, or, what is
still more probable; the ratio in the five franc
piece, which values silver at 3 per cent more
than we do in our coinage.   But, however,
this may be decided, the remonetization of
silver and its free coinage means an enor¬
mous addition to,  and active use of, the
money metals of the world.   All additions
to the currency, whether of gold, silver or
paper, involve higher prices, and this means
a great addition to the business prosperity
of the county and the metropolis.

THE SITUATION IN THE  STREET.

The past week has been a doubtful and
feverish one, so far as dealings in stock se¬
curities were concerned. The volume of
transactions fell off and every one was wait¬
ing developments from Washington. At
first it was argued that the new adminis¬
tration meant inflation, and that naturally
Secretary Windom would do what he could
to make things pleasant for the Banks and
the Stock Exchange. Hence, there has been
a great deal of bull talk during the week.