Real  Estate   Record





AND BUILDERS' GUIDE.





Vol. XXYII.





NEW YORK, SATURDAY, MARCH 19, 1881.





No. 679





Published Weekly by The

Real Estate Record Association

TERMS:
ONE YEAR, in adyance.....$6.00

Communications should be addressed to

C. W. SWEET, 137 Broadway.

J. T. LINDSEY, Business Manager.

The Real Esatte Record, to-day, enters upon the
fourteenth year of its existence. It has lived through
a period of depression, unequalled in the history of the
country. It is not in the nature of things that real es¬
tate in this city should ever again be so depressed as it
was from 1873 to the close of 1877. Good times have
come again and to stay; but, as yet, prices have not
reached the flgures which obtained in 1870. Yet the
population of the city is larger, we have made great
local improvements and have an elevated railway sys¬
tem which makes New York city travel unequaled for
cheapness and comfort.

The establishment'of The Recokd met a want, long
felt by the real estate interests in the city. For the
first time the Conveyances, Judgments and Laws and
City Ordinances affecting real estate, were given with
fulness and scrupulous accuracy. The building in
terests, also were appealed to, and the carefully edited
price current and the review of the lumber and build¬
ing material market for the week, made this paper in¬
dispensable to all who were erecting houses in and
near New York. Some of this news had been given in
the daily newspapers, but in. an irregular and care¬
less way. All who deal in real estate wish to keep the
record of transactions, and this could only be done by
having a file of a paper which made it a specialty. To
do this work well cost a good deal of money, and dur¬
ing the hard times we were forced to advance the
price to $10 per annum. Appealing as it did to a
wealthy interest, the Real Estate Record naturally
became a paper for investors, that is to say, its
readers are not only real estate owners and deal¬
ers, but bankers, financiers, merchants, leading
lawyers and large holders of government and
railway securities. An advertisement in this paper,
relating to a really first class enterprise that will com¬
mend itself to the judgment of investors, is naturally
worth more than when put in an ordinary daily paper.
The increase of our business from this source has led
us to believe that we can now afford to reduce the
price of the paper, as well as give more attention to
general financial topics. There are so many papers
published in the interest of advertisers, that the field
is open for at least one weekly paper pubhshed solely
in the interest of the investor.

In its new departure, the Real Estate Record will
no longer be a local paper. It will be circulated all
over the covmtry. The whole world to-day speculates
on and in the New York market, and the time is com¬
ing when vacant lots on this island will be bid for by
capitalists in all parts of the country. The example
of the California colony will be extensively followed,
and people who make money as merchants or specula¬
tors in any of the interior cities, will be tempted to
have a home in this splendid metropolis of the Western
world.

The Real Estate Record will retain all its old
specialties during the coming year, and will add
several features of interest It will discuss all topics
whidi affect inve^iors, funush tiie latest aad fullest





news about real estate, pay some attention to mining
and will collate from the exchanges the best expres¬
sions of opinion from every quarter.





In a few days, not later than Wednesday week, to
meet a special want, a new paper wiU be issued from
this oflice, entitled "City and Suburban Index."





"Would it not be well for capitalists with
spare means to pay some attention to invest¬
ments in New York water fronts? New
York is destined to be the entrepot of the
commerce of two continents. All roads lead
to this metropolis, and every ship that
ploughs the sea, whatever its flag, makes in
time for this harbor. From the nature of
things, our commerce cannot but grow.
We have, apparently, a good deal of water
front, but, after all, not so very much that
is available for immediate improvement.
The deepening of the waters at Hell Gate
aud the removing the rocks will make the
fronts on the northeast side of the city of
very great value. The improvement of the
Harlem River, which cannot be long de¬
layed, will make other fronts available.
This is not a very tempting kind of prop¬
erty to look at, but its potential value is
very great. Nor should any one invest
unless he make a specialty of the business.
A wise purchase to-day is certain of a large
percentage of increase within the coming
five years.





FINANCIAL  JOURNALS.

As the Real Estate Record, expects to
take a hand in commenting upon the stock
market, it may not be out of place for it to
pay its respects to other journals, which
make a specialty of discussing upon the
news of the " street."

The Wall Street Neios, has won a deserved
reputation for the points it has given during
the past year. It has been mistaken at
times, of course, but people who followed its
advice, have generally made money. It has
given misleading points about Erie and
other stocks, but, on the whole, it has been
generally successful in divining the course
of the market and the advances in particu¬
lar stocks. It generally is quite bullish in
tone, but for several weeks past, has had the
good sense lo warn operators against pur¬
chasing for aa advance. Indeed, its advice
recently has been decidedly bearish. Ru¬
mor has it that some of its inspiration
comes from James R. Keene.

The Graphic is also famous for its well
edited Wall street column. This depart¬
ment bristles with points, generally very
good ones. It is not chary of giving advice,
and it is so far inside, that no operator can
afford to be without the 4th edition of the
Graphic. Generally bull, it has lately been
bearish in tone. Some of its inspiration is
said to come from Jay Gould, but Prince &
Whiteley, and even James R, Keene, are
said to give its editors points.

IThe Tribune, has a very well edited money
column, but tho compiler is a confirmed
bear.   During the rise of the last three years,





the Tribune money writer has steadily pre¬
dicted disaster. Whoever follows him has
lost money ; but the Monday article is very
well worth reading. There is no trace of
Jay Gould in that department. But there
could be no mistaking the inspiration of that
operator ia many of the recent articles on
Rufus Hatch.

The World's market gossip department is
openly in the interest of Jay Gould. There
is no disguise as to who it is inspires the
whole course of that paper on money ques¬
tions, from article to paragraph. Even the
dislikes and spites of the great speculator,
are openly expressed in the gossip depart¬
ment. This is shown by its frequent attacks
on James R. Keene. Its advice is not always
safe to follow, for Mr. Gould is sometimes
selling when he wants other people to buy,
and vice-versa. Everybody reads the World,
however, to find out what Mr, Gould wants
people to believe.

The Commercial Advertiser has a money
column worth reading, conducted by Dr.
Norval, formerly of the Times. It is gener¬
ally bullish and always accurate, and some¬
times gives a point which is worth consider¬
ing.

The Times wastes a column of space evpry
morning, on what it calls market news,
which might be just as well omitted. It ia
utterly without character and no one reads
it.

The Herald money article is pleasantly
written, but is of no value.

The Evening Post money column shows
some conscientious work, but is of more ac¬
count for its facts than for its judgments.

In view of the multitude of papers pub¬
lished to cater to the interests of Wall street,
the Real Estate Record proposes to distin¬
guish itself from them by being strictly an
investor's paper. We shall not attempt to
give tables or figures, but will collate tho
best opinions from all quarters and give such
general judgments from all the markets as
will be a guide to those who wish to invest
wisely. We propose to occupy the higher
department of financial journalism.





How often it happens that schemes which
look well on paper and seem reasonable, are
disappointing when tried. When Mr. Has¬
kell started Llewellyn Park on the side of
Orange Mountain, it seemed to embrace
every condition that would insui'e its suc¬
cess. The location was all that could be de¬
sired, it was near New York, of its healthful¬
ness there could be no doubt. The condi¬
tions under which the building plot was sold,
secured the purchasers against nuisances
and undesirable neighbors. The abolition of
fences, with the regulations about fowl and
cattle, were calculated to convert the park
into a great garden in which the varying
tastes of hundreds of wealthy gentlemen
could be exercised so as to make a charming
ensemble. But though many rich and cul¬
tured people were attracted to the park, it
has not proved financially profitable.

Chicago  has  a   beautiftil neighborhood