Real  Estate   Record





AND BUILDERS' GUIDE.





Vol. XXVIII.





NEW YORK, SATURDAY, AUGUST 27, 1881.





Ko 702





Published Weekly by The

Real Estate Record Association

TERMS:
ONE YEAR, in advance.....$G.OO

Communications should be addressed to

C. W. SWEET, 137 Broadway.

J. T. LINDSEY, Business Manager.

A PARK "V^ITH A WATERFRONT.
The Herald suggests that as Governor's Island
is useless for all defensive purposes, the city make
application to the general government to have it
ceded jointly to Nevsr York and Brooklyn, so that
it could be converted into a public park with a
waterfront all around it. Perhaps it is true that
the expenditure of a little money would make
Governor's Island a very charming resort for
the people of New York and Brooklyn; but are
there not other places that would be still far more
popular and convenient ? True, there is an out¬
look upon one of the noblest bays in the world
from Governor's Island; but, then, it can be seen
equally well from the Battery. The neglect into
which the latter has fallen, by the way, shows
that our pleasure seekers are not content with a
mere view of the Bay, but that when they wish
to see water they prefer to have a glimpse of the
mighty ocean from Long Branch, Coney Island,
Rockaway or Long Beach. Governor's Island
wouli never do as a winter resort, and in sum¬
mer time Coney Island would bo far more
attractive.

Still, it would be very desirable to have one or
more islands or i^arks with a waterfront. True,
we have Riverside Drive, which some day will
be in active demand for choice residences; but
we have nothing corresponding to the Thames
embankment or the water parks in the capitals of
Europe. If an island is needed, why not Black¬
well's Island? It is charmingly situated for a
park and could be made a perfectly delightful
resort by a first-class landscape gardener. An
enormous population is growing up on the oppo¬
site shores, and it is easily get-at-able from all
parts of New York and Brooklyn. Then, a
bridge is soon to be built, which will make it
accessible from either shore. The time cannot
be distant when a clamor will arise for a re¬
moval I of the hospitals, penitentiary and work¬
houses from Blackwell's Island. There are plenty
of islands further up the sound which are far
more suitable for hospital and penitentiary pur-
jjoses, and there is no need for having them all
in one location. According to the sani¬
tarians and hygienic reformers, it is a mis¬
take to build '„ permanent ^hospitals anywhere;
They are seed beds for all contagious dis¬
eases. Once let perpui'ual fever, for instance,
become acclimated in a stone hospital, and all
efforts to disinfect the building or cleanse it of
contagion are futile; and so with other diseases.
The sick of fevers and acute disorders generally,
should be treated in scattered dwellings of a tem¬
porary character, which should be destroyed
every few years. Hence the removal of the hos¬
pitals from Blackwell's Island need not cost very
much money. Apart from the penitentiary and
the lunatic asylum, there is no earthly need of
any costly buildings.

But if Blackwell's Island is unavailable just
now, why not a park or a series of them, upon
the line of the Harlem River improvement?
Prom the new bridge of the northern road to the
Hudson River are some^of the most striking and





picturesque scenes in the world. What can be
more lovely than the neighborhood of High-
bridge ? There is a city park set aside, which,
when improved, will be one of the attractions of
New York; but our citizens should have some¬
thing similar to the Thames embankment, for
natural scenery is incomplete without the vaiy-
ing tents that pass over the surface of a body of
water. The Herald should be thanked for start¬
ing this discussion, but until the Battery is more
in vogue, it is idle to advocate the spending of
money on Governor's Island. When the shores
of the East River, from Eighty-sixth sti-eet to
Hell Gate, become densely populated, there will
be a demand which must be heeded, for a i-e-
moval of the foul, wicked and diseased people
who pass away their miserable lives on Black¬
well's Island. They must be sent to other quar¬
ters, and then Blackwell's Island can be used as a
pleasure resort, winter and summer, by the pop¬
ulation which lives on either bank.





Those who wish to know the latest and most
authentic news about the amendments to the
building law, would do well to read the letter of
our Albany correspondent, in which will be
found the official'text endorsed by the Secretary
of State. There was no general law passed at the
last session, though one was presented and got
through one House.

The bears have their own way in the stock
market, and, moreover, think that they can hold
control. Matters looked very panicky on Mon¬
day, but Secretary Windom's offer with regard
to the 5 per cents due October 1st, eased the gold
market. Gold commencing to come this way
also helped the bulls; but the raising of the rate
of interest by the Bank of England to 4 per cent.,
gave new courage to the bears. The condition
of tho President was a constant menace to the
market. It is believed the death of Mr. Garfield
will be followed hj a revival of prices, that is,
for a time, but the general impression seems to
be that prices will be lower before they are high¬
er, and that the market will be a bear one for the
year, with occasional reactions.





Sjme time this year operators will separate
the speculative goats from the sheep. Good divi¬
dend paying securities will hold their own and
advance, while the non dividend payers will suf¬
fer. If Western Union is earning 9 per cent., as
is claimed, it is selling for very low figures on
the market and should go up whether the mar¬
ket is bull or bear. Any certain 6 per cent, stock
which is selling below par is cheap. Still, as a
general thing, investors would do well to keep
their money in bank and take their chances for a
lower market, or, if they must buy, it ought to
be real estate at present prices.





It seems the new Rapid Transit board have
passed resolutions authorizing ^ the building of a
new elevated road on the other side of the Har¬
lem. It is to commence on the New York side of
the Harlem River at Second avenue, cross over
to Lincoln avenue, up that thoroughfare to One
Hundred and Thirty-eighth street, then along
Third or Fordham'avenue to the street known as
College place, Fordham. Thence northerly
through and along College place over St. John's
College lands, then across the Harlem Railroad
lands to the southerly side of the Bronx River.
The effectjof this action i-emains to bo seen. We
have not heard that the money has been raised.
How about the rapid transit suburban railway
company?   That organization, it is understood,





was almost in a condition to go right along with
their work. If the rapid transit old road should
begin work, the new organization would have to
hurry up. Rightly or wrongly, the majority of
people who live in the Twenty-third and the
Twenty-fourth Wards favor tho new scheme; but
can they raise the money?





There is but little mining news this week, but
September, it is supposed, will see things pretty
lively. There were heavy purchases of Best and
Belcher and Bullion mining shares on Thursday.
It is believed something is up on the Comstock.
Should there be a boom on any part of the line,
it would result in a lively New York market.
The Bull Domingo .people say they have good
news from their property, and a movement is
said to be under way iu Big Pittsburgh, Bulwer
and Bodie.





NEAV YORK REALTY AT ALBANY.

THE   AMENDMENTS   TO   THE   BUILDING   LAW—NEW   YORK
BEAL ESTATE BILLS NOT SIGNED.

[From our own Correspondent.]

Albany, Augnst 24.
The end has at last been reached in making new
laws for this State for the year 1881. On last Monday
the time expired in which the Governor could sign
bills left in his hands when the Legislature adjourned.
Not one of the local improvement bills sent him dur¬
ing the last ten days of the session were approved by
the Governor, and, therefore, failed to become laws.
Since the Legislature adjourned he has signed Mr.
Strahan's amendments to the building law of this city,
and the act for the publication of the list of registered
votes in the City Record—M other city bills failed.

Among the bills which the Governor refu.sed to
sign is Dayton's amendment to the mechanics' lien
law; also, another bill amending the lien law in its
application to all cities of the State; the three bills
for the better laying out, mapping and improving tliat
section of the city between One Hundred and Forty-
fifth and One Hundred and Seventy-fifth streets, west
of Eighth avenue; the act for widening One Hun¬
dredth street, east of Third avenue, and the act
amending the laws of last year regulating the ex¬
penses in the proceedings for opening streets, ave¬
nues and public places in this city. Not one of those
have become laws. They were all framed in pursu¬
ance of recommendation and the plans of the city
authorities to meet the necessities in the rapid growth
ofthe city. But in these as well as in the bill to pro¬
vide for an increased supply of pure water, the Gover¬
nor prevented their consummation, and they will have
to wait for another year, if not until the end of Gov¬
ernor Cornell's term, before the improvements can
be made.

As some of the papers have published a building
law which passed one of the houses, but not the other,
I have taken the trouble to get the amendments which
were passed and signed, direct from the office of the
Secretary of State. It was these amendments to
which Inspector Esterbrook referred in his interview
in The Real Estate Record, published last week.
There was no general law passed.

CHA.P. 687.
AN ACT to amend chapter six hundred and twenty-
five of the laws of eighteen hundred and seventy-
one, entitled " An act lo amend and reduce to one
act the several acts relating to buildings in the city
of New York." passed May fourth, eighteen hun¬
dred and sixty-six. May seventeenth, eighteen hun¬
dred and sixty-seven, and May sixth, eighteen hun¬
dred and sixty-eight.

Passed August 12,1881; three-fifths being present.
The People of the State of New York, represented in

Senate and Assembly, do enact as follows:
: Section 1. Section thirty of chapter six hundred and
twenty-five of the laws of eighteen hundred aud sev¬
enty-one, entitled "An act to amend and reduce to
one act the several acts relating to buildings in the
city of New York," passed May fourth, eighteen hun¬
dred and sixty-six. May seventeenth, eighteen hundred
and sixty-seven, and May sixth, eighteen hundred and
sixty-eight, is hereby amended so as to read as fol¬
lows:

§ 30. Before the erection, construction, alteration or
repair of any building or part of any building in the
city of New York is commenced, tbe owner shall sub¬
mit to the fire department a detailed statement in
writing, of the speciflcatigps, and a full and complete