Real  Estate   Record





AND BUILDERS' GUIDE.





Vol. XXX.





NEW YOEK, SATUEDAY, SEPTEMBEE 30, 1882.





Nr. 759





Published Weekly by The

Real Estate Record Association

TERMS:
OjVE TEAR, in adTaace.....$3.00

Communications should be addressed to

C. W. SWEET, 191 Broadway.

J. T. LINDSEY, Busfaiess Manager.

The Real Estate Record will appear in an en¬
larged form next week, with s^reral new and attract¬
ive features. Its circulation, hereafter, will be general,
not local. As we shall publish a very large edition,
advertisers, if they wish to take advantage of it,
would do well to send in their favors early in the
week.





well eat our cake and have it, too, and this is
why it is money is scarce. The country is
using it in a thousand ways not employed
before the revival of business in 1879. There
is no relief to the market, because there are
no importations of gold or bullion from Eu¬
rope, such as we had in previous years.





Tlie list of offici.al conveyances this week
shows a gratifying increase over the busi¬
ness transacted during the corresponding
week of last year. It is worth noting, by
the way, that the banks and insurance com¬
panies are loaning less money on real estate
this year than last. This is doubtlpss due to
the demand for money in Wall street :





We are exporting less and importing more
tlian in former years. Wheat and flour go
forward slowly, and, as their price is less,
they do not make so much exchange as in
1879, 1880 and 1881. We ship less meat,
while the miscellaneous list has fallen off.
Hence there is no likelihood of gold coming
this way until next spring, if even then. It
is not improbable that before the close of the
business year a demand may spring up
abroad for our securities, and this would
again bring about shipments of gold this
way. Tnis, however, is not to be expected
this fall or winter.





CONVEYANCES.
1881.

Sept. 22 to
2S, inclusive.

Number......... .......                89

Amount involved........   $1,333,33.3

No nominal.............                21

No. 23 I and 24th VVards.                19

Amount involved........        $90,593

Ko. nominal.............                 4

MORTGAGES.

Number...;...... .......              117

Amount involved........    $1,076,874

No. at 5 per cent   ...:..                29

.Amount involved .......      $469,100

No. to Banks, Trust and

Ins  Co ...............                27

Amount involved........      $562,500





1882.

Sept. 22 to

28, inclusive,

lis

$2,088,T.t4

3i

14

$10,8; 5

is





123

$1,321,3>.=>

36

$t57,5}0

20
$293,000





If the figures reported weekly and pub¬
lished in The Wo7'Td, showing the earnings
of the New York Elevated Railway Com¬
pany are not grossly overstated, and those
of the Metropolitan Company proportion¬
ally understated, it would seeai that any
New York Elevated stockholders Who ac¬
cepted the figures of a year ago and voted in
good faith for the ratification of the agree¬
ment reoiueing his dividend from 10 to 6 per
cent., did so under a misconception as to
what his property was really earning.
Either the earnings were diverted at that
time from the New York to the Metropolitan
Company, or the reverse condition of things
exist now, and ii is the Metropolitan people
who are the sufferers. In either event it
would be well for a New York stockholder
to protest against the figures furnished him
a year ago on which ho based his judgment
as to the desirability of changing the lease.

There is some tall lying somewhere.





The exchanges for the past week all
show a great improvement, not only over
the previous week, but also over the corres¬
ponding week of last year. The commerce
and business of the country has been ex¬
panding rapidly, and the only, drawback is
the scarcity, of money.   We cannot very





THE TELEGRAPH AND ^HE   ASSOCI¬
ATED PRESS.....-

The articles wliicli have appeared 'in the
daily m wspapers, respecting the relations of
Jay Gould to the Telegraph and Associated
Press, must be a puzzle to the average rea¬
der. When Jay.Gou Id succeeded in wresting
the control of the great ^telegraph company
from W. H. Vanderbilt, the Record an-
piOunced that Gould now had the press by
the throat, and that the proprietors and
editors would in time be forced to recognize
him as their master. The only way out of
the difficulty, as was then noted, wa,s for;a
unanimous demand on-the part of the news¬
papers for Congress to nationalize the tele¬
graph system, and make it a, part of the
postal service of the country. In every
other nation, save alone the United States,
it has been found indispensable to make the
telegraph a government monopoly. A Ger¬
man, Frenchman or Englishman would not
for a moment consent to a private company
having the control or^^knbwledge of all his
family and business secrets.

The apathy with which the American
public have looked upon Mr. Gould's abso-
solute power over the medium which con¬
veys the news and reports the markets of
world, is simply wonderful. This great
speculator is notorious for having no busi¬
ness conscience. He cares nothing for any
interests, save his own,;and permitting him
to get in the position of controller of the
sole agency by which; the business of the
country is carried on seems incredable in
itself.

When Gould first got possession of the
telegraph system, the Real Estate
Record forv^told what has since occurred.
The same point was made time and again,
yet, with singular fatuity, the newspapers of





Jay Gould. Of the seven papers composing
it, he now coQtrols the World, ibhe Tribune,
the Mail and Express, and the Su7i. A vote
has been passed discharging the Executive
Committee of the Associated Press,, and
transferring the collection of news and the
market reports to the News Bureau of the
Western Union Telegraph Company.

Unfortunately, for the papers who now
make an^appeal to the public, they do not
come into court with  cloau   hands.   The
Associated Press itself was and is a detest"
able monopoly.   It tried to put a stop to the
establishrnent of any new paper in any State
of the Union for the last^tvirenty years.    By
a corrupt combination with the   Western
Union Telegraph Company,  no new  paper
was     allowed     the      Associated      Press
news,   except    at   killing   rates.      It    is
true that some new  papers were started,
but they were at a woeful  disadvantage
with the Associated Press on account of the
greater  facilities  and  the   monopoly con¬
trolled by the latter.   A rule established by
them Sifter The TFoWc? was started in 1860,
required unanimous consent for the admission
of a new paper.   This, of course, amounted
to a denial ot any sharing of the privileges
of the Associated Press, yet tho monopoly
was a bad   thing  for the journals   them¬
selves, for it put a stop to wholesome com¬
petition, and this is why it is that the great
papers of the country are no longer publish¬
ed in New York City.   In ability and enter¬
prise the press of Chicago is ever so far
ahead of the pi ess of the metropolis ; while
theire are better, journals published in Boston,
Cincinnati, St. Louis, and even San Fran¬
cisco, than are to be found in our own city.
There, is but one issue to this imbroglio, the
government must assume control of the tele¬
graphic system of the country, and, as for
the cables, it is quite time that they were
managed by a commission representing all
the nations which they connect.

The history of telegraph consolidation and
cable consolidation, is a.repetition of the
railroad stock watering of this country. The
cables represent ten times the capital re¬
quired to lay them, as the Western Union
stock represents four times the money that
would completely reproduce its plant. But,
if the government is to make a monopoly of
the telegraph, it must nofe'pay an exorbitant
price for the wires of the Western Union,
That the country will not stand. In one
year the government could itself build as
complete an equipment as that of the West-
em Union Telegraph Company. There is
alre.ady a system of wires constructed to the
various Weather Signal Stations which
could be the nucleus of a national system of
wires; but under no circumstances should
the government pay more than $50,000,000
for the poles and wires of the present tele
graph monopoly.





the country failed to realize the danger they
were in. Now come.=j to the fore the New The selling movement in government 4J^
York Herald, the New York Times, and the per cents is ominous. Conservative people
Journal of Commerce. They complain that have always held that the high price of
b he Associated Press has been captured by | government    securities    was    tmnatural