Real  Estate   Record





AND BUILDERS' GUIDK





Vol. XXX.





NEW TOEK, SATUEDAT, JULY 1, 1882.





Na UQ





Published Weekly by The

Real Estate Record Association

TERMS:
OME YEAR, in advanee.....$6.00

Commimications should be addressed to

C. W. SWEET, 191 Broadway.

J. T. LINDSEY, Business Manager.

OUR INDEX.
The index to Conveyances and New Buildings
published in The Real Estate Record during
the last six months, -which is issued as a supple¬
ment to-day, is invaluable to all of our sub¬
scribers -who have pi'eserved their copies. With
the index they may quickly ascertain vrhat prop¬
erty has changed hands on any avenue, street or
lane during the period above mentioned ; for
instance, a subscriber -wants to know -what prop¬
erty on Madison avenue, between Seventieth and
Seventy-fifth streets has been sold. By referring
to the index it will be seen that on pages 56 and
194 appear the only conveyances of property on
that avenue between'the streefcs]Inameid during
the six months, and, consequently, by turning
to those pages the desired information is obtained,
the streets and avenues being sub-divided so that
few references are necessary. The same applies to
new buildings, and it should be remembered that
by using this part of the index subscribers are
enabled to learn who built houses they may be
asked to purchase, as well as the estimated costof
same as stated in plans. King's County Convey¬
ances and New Buildings, as well as New York,
are indexed. Those of our subscribers who may
want numbers to complete files should get the
same without delay.





Governor Cornell again figures in the role
of an obstructionist, New York needs a new
Croton aqueduct, a year of drought such as
that of 1S80, would he a terrible calamity,
and the danger of extreme suffering can be
obviated only by a better water supply.
But Governor Cornell, because a matter of
patronage -was involved, vetoed the necessary
bill which would have given us a new
aqueduct. The constitution calls for a rail-
w^ay law so that cities and towns can have
street car companies without special char¬
ters, A very excellent 1 iw was passed by
the last legislature to fulfil the requirements
of the constitution, but Governor Ccrnell
vetoes it in obedience to a malicious clamour
raised by interested parties. New York
suffers for want of more street railways,
so does Brooklyn and other cities in
the State, but they cannot have them this
year because Mr, Cornell is a candidate for
re-election. He vetoed the biU imposing
taxes upon the elevated roads, though it
was a just settlement of the dispute between
the companies and the State. This also in
obedience to a preposterous newspaper cla¬
mour. Our population is extending so rap¬
idly that at least ten miles of new horse
car tracks should be built in the coming
two years, but Governor Cornell has said
no! Some of his vetoes were no doubt
justifiable, but this cannot be claimed for
those which deprive New York of a better
water suppy, and prevent the necessary
extension of the horse car railroads.





The markets have been strong but fever¬
ish. The very warm weather gave hopes of
a good corn crop, while it was known that
winter wheat, oats and grass in the southern
and central belt of the country were all
right. With average luck it was realized
that the northwestern crops would give a
good account of themselves, hence the
strength in the market. The Lake Shore and
Michigan Central reports were not favorable.
It is clear that Lake Shore has not earned, for
the last six months, the dividends that have
been paid, and the pegging and bulling of
the stock by Vanderbilt was not justified by
the actual current earnings. Still there is
every reason to. believe that the road will do
better, during the coming months, as the
war of rates is over, and the general busi¬
ness of the country will improve because of
the larger crop. Should no disaster occur
to the crops, there is every reason to believe
in higher prices during the month of July,
and even if the corn <5rop is only an average
one, the fall and winter business will be far
better ihan that of the past year. All the
omens look to much higher prices for realty
during the coming fall, accidents of course
excepted.   .





enormous franchises should be given away for a
song. Broadway wns in 1 he speculative eye of
the men behind the Surface Railroad bill. The
company that obtains permission to lay iron
tracks along that great highway should pay for
it all that it is worth."

But the law did not prevent the authorities
from getting twenty million if they could,
all it provided was that they should not
take less than $750,000. A correspondent
in last week's Record gave many excellent
reasons for believing that even under the
law, if endorsed by the Governor, no rail¬
road on our great thoroughfare could ever
be constructed so discordant were the in¬
terests involved. But it is provoking that
so petty an interest as that of the stage lines
should have stopped the passage of a benef¬
icent general law which carried out the
provisions of the constitution, and that
Mayor, Comptroller as well as all the editors
of the daily papers were so deliberately de¬
ceived as to the purpqrt of the law.





The improvement of Morningside Park,
directed to be made by the act of the Legis¬
lature of 1880 (chapter 565), is fairly under
way. The contract for Morningside avenue,
on the west of the park, has been executed
by Mr. O'Grady, the contractor, and work
upon it is to be begun immediately. This
contract requires it to be completed within

a year.

--------•--------

In the bill passed by the Legislature, au¬
thorizing the construction of street railways,
there was a provision that if a track was
laid on Broadway, between Fourteenth
street and the Battery, the franchise should
not be given for less than $750,000, the in¬
tention being to make that the ininimum
price, but imposing no restrictions upon any
higher figure. The proprietor of one of the
stage lines thereupon persuaded the Mayor
and Comptroller that the law would give
away the franchise for that money, and said
he was willing to pay a million dollars for it.
These officials fell into the trap, and there¬
upon demanded that the Governor should
veto the bill. The newspapers backed up
their protest vigorously. That these busy
ofiicials should be deceived by the stage line
owners one can understand, but it is amaz¬
ing that the editors with the law before
them and their correspondents to instruct
them, should deliberately mistake the facts
in every comment they have made on the
bill.   Says the Herald of Thursday:

" We need more railroads—surface roads es-





Among the plans for new buildings filed dur¬
ing the week are several for dwellings and flats
on the West Side which have been announced in
our column " Out Among the Builders" from
time to time. Pour five-story brick and brown
stone flats will be erected at the southeast comer
of Ninety-second street and Ninth avenue; three
three-story brick stores and dwellings at the
northwest corner of Boulevard and Eightieth
street; one five-story flat at the northeast corner
of Ninth avenue and Seventy-third street by
Mr. Edward Clark, and twenty-seven four-story
brick and Nova Scotia stonedwellings on Seven¬
ty-third street, east of Ninth avenue, also by Mr.
Clark.

<«>

A correspondent largely interested in the man¬
agement of estates gives it as his opinion that the
five-day act in summary proceedings, known as
the McAdam-Breen BiU, is inoperative for the
month of July, although it went into effect on
the 26th day of June. He argues [that although
there are five days counting up to ^the SOth, the
25th day of June is excluded by law. Refers to
1 R. S., 6th edition, page 507, Section 12.—tfair
banks vs. Wood, 17 Nend., page 329; Sedgwick
on Statuary Law, page 418. This is a matter
for a court to determine.





The acts of the Legislature to expedite the im¬
provements on the Harlem River, and in relation
to the grades of streetg and avenues in the dis¬
trict bounded by the Boulevard, Riverside
Drive, Eighty-fourth and Ninety-sixth streets,
have Lieen approved by Governor Cornell. Both
of these improvements are needed, and are of
very great importance to the real estate interests
of the city.

------------0-----------

Proposals will be received at the Department of
Citj Works, Brooklyn, until July Sd, 12 m , for a fire
proof vault in the office of the Register of Arrears;
until July 8th, 12 m., for surfacing -ivith asphaltum and
keeping in repair for five years such concrete pave¬
ments in the City of Brooklyn, amounting to 20,000
square yards, as may be selected by the Commissioners
of said department; until July 10th, at 12 m., for pav¬
ing with granite block pavement Furman street, from
Fulton street to Atlantic avenue, and widening the
same from Fulton to Montague streets, for paving
with granite block pavement Plymouth street, from
Bridge to Main streets, Kent avenue, from Iiivison to
Washington avenues, and   Hamilton avenue,  from





Hamilton Ferry to Van Brtmt street; and until July

25tli, at 12 A. M., for increasing the water supply of

Specially; but there is no good reason why such, the City of Brooklyn, the; increase to be taken from