February 1, ISflO





Record   and  Guide.





147







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fELEPHONE,          -          -          -          JOHN  370.





Commiinicatioiis should be addressed to

C. W. SWEET, 191   Broadwa;^
/. T. LINDSEY, BvMness Manager.





Vol, XLV.





FEBRUARY 1. 1890,





No. 1,142.





The Semi-annual Index of the Conveyances and Projected
Buildings in New York and Kings Counties which are recorded in
Volume XLIV. {July to December, 1889, inclusive,) of The Record
AND Guide, is published to-day, and subscribers who do not receive
ft copy can obtain one by addressi^^ig the office of jiubHcation, No.
191 Broadway. In addition to the usual matter a Classified Dt'ree-
tory of advertisrrs in The Record A.'SD Guide is given, which will
be found of great value by Bank, Ti-usti and Insurance Companies,
owners of realty, architects and others.





The stock market seema to hold fast to its long run of hard luck.
No sooner does it give evidence of activity and a better feeling than
itnnitidiately comes along'the Sixth National Bank trouble and
upsets confidence again. The average operator has not yet for¬
gotten the Ives financiering, nor how the stock market continued
for months after that exposure to feel its effects, aod considering
this, it is marvelous the market did not give way more than it has.
It is probable that wq have heard the worst of this matter, but it
certainly makes one shiver to think how nearly these schemers
r.ame not only fco totally wrecking the Sixth National, but how close
were their hands to the vaults of other prominent institutions, the
stock control for which they were negotiating. Undoubtedly tlie
average, so called, English syndicate hereafter will be watched
more closely. So far as the general outlook is concerned every¬
thing looks better with the close of each week of tbe year. The
price of a number of stocks has enhanced not a little since the
first of January, and this process is very likely to continue. The
rate of exchange in England is more or less of a spectre to many
operators, but it is nothing compared to the friglit wliich the Eng¬
lish capitalist gets every time he sees the rate of exchange ai
a point which would compel shipment from England of any quan¬
tity of gold. General business is good and orders from mer'
chants indicate light stocks held through the country, which fact
shows that with anything like ordinary consumption we are sure

to have good trade.

— ■ ■ ■■-«-----------------------------

It is to be regi-etted deeply that the "World's Fair bill at Albany
was not promptly passed without the bickering of politicans aud
property-owners. The measure has in a sense been besmirched, and
the moral effect which it should have had in Washington and
throughout the entire country has beeu materially lessened if not
practically lost. The bill should have been made to represent the
spontaneous enthusiasm of the Empire State, of all classes, of all
factions. Censure for the delay that has arisen out of politics
belongs wholly to the iioliticians who have caused it. The people
are in no way responsible for this. Never for a moment have they
■ viewedthebill in a political light. They want the Pair to be located
liere in this city, not altogether for any local advantages that
might accrue to them; but for larger reasons, as citizens of "no
mean country," So long as the Fair is i^roperly managed they
care little as to the politics of these into whose hands the man¬
agement falls. As to the opposition that has come from
property-holders, is tliere not good reason for thinking
that it is based, to a degree at least, upon misunder¬
standing? It is true the bUl provides that the commission
moy condemn and acquire iu fee auy land they deem necessary.
Thii power given is undoubtedly large, undoubtedly also it might
have been circumscribed somewhat; but is there any reason for
a.ssuming that this power will be indiscriminately used to the dis¬
advantage of all property-owners on the site that has been selected V
To assume tliat it will, is about as unwarranted as the criticism of
the Evening Post, which says, that under the provisions of the bill
the commissioners might proceed to condemn aud acquire the
Checuical Banit building ur tlie fifth Aveuue H^jtel, In a legal
discussion points of this kind may have a proper places but they
are largely factitious and of little value in a great popidar move¬
ment of vast importance to the city: The cbnimissioners might,
but    they    are    not    likely    to,   attempt    to     acquire     in    fee





the 200 acres or thereabouts that are supposed to be
necessary for the Exposition, Some of the land ehould be
acquired outright—that is, the land that may be necessary
for the pernianeut preservation of any of the Fair buildings.
This land would be used for " city purposes" as certainly as park
lauds ai-e, despite what ineaning legal quibblers may give that
term. For such land the city should pay handsomely, and no
doubt it was only in view of this necessary acquisition that the
power to take land in fee was conferred at all upon the commis¬
sion. The bill was too hurriedly drafted to permit of exact defini¬
tion, and too hastily pushed in the Legislature to admit of ample
explanation. So much time has been lost now that it might be
well to delay a little longer and amend the bill so that the laud
to be taken iu fee shall be deliminated. The rights of propei-ty
owners should be protected, of course ; but, on the other hand, the
larger interest of the city in so important a matter as this of the
World's Fair siiould not be overlooked.





The National Convention of Builders practically "dodged" the
eight-hour movement question when it came upfor discussion, hy
resolving that the association deemed it inexpedieat to take any
action that might hamper the local exchanges. There is, un¬
doubtedly, some, reason for such a course, for the same condi¬
tions do not prevail in all parts of the country, aud it is proper
that the local bodies should be free to act in conformity with
these ; but, admitting this, the question in its larger features is
a national one, and the convention could easily have declared
its views without formally binding its afBHated societies to any
course of action. From the telegTaphic reports of tlie meeting
it would seem that the sentiment of the convention, so far as it
can be inferred from the debate, was not very favorable to the
movement, and, indeed, the resolution finally adopted goes to prove
that. The convention " tabled" the matter and left the local bodies
to deal with the problem. The subject, however, is not to be so
easily disposed of. The labor organizations, especially in the build¬
ing trade, are strong and are determined to force the fight with
the master builders on the point. There is to-day, in this city, an
undercurrent of feeling that is making for a general strike for an
eight-bom- day on the first of May ; an eight-hour day, moreover,
not such as that which Mr, Deeves has in mind, wherein the new
condition, will be "equalized" forthe employer by i^ayment by
the hour, so that an eight-bom- day will mean eight-hour pay, Ifc
is to be hoped that this question will be treated by both parties to
tbe issue in a fair-minded and liberal way. It is one of great
importance not only to those directly interested but to the nation
at large. The nature of the question moreover, is of such a char-
a?ter that it will not be settled until it is wisely settled, not accord¬
ing to superficial a])pearances, or the dictates of momentary self-
interest, but according to all the facts that bear on the matter.





During the past week the Mayor called a conference of certain of
the city officials to discuss the subject of street cleaning and the
way in >s'hich it could be most effectually done. The depai-tmental
heads present at the conference were Commissioner Loomis,
Deputy Commissioner Hagan, Commis'iioner Gilroy, Corporation
Counsel Clark, Police Superintendent Murray and President Wilson
of the Board of Health, Tbis conference, we believe, is something
of an innovation for Mayor Grant. Hitherto no such consultaticm
has been called : each departmental bead has gone his own way
irrespective more or less of the ways of other departmental heads.
For tbis aud other reasons it would be well to hold them more fre¬
quently. Mayor Grant, it must he remembered, is clothed by the
Consolidation act with responsibility for the honest and efficient
management of every city depai'tment. The various heads are
pj-actically his clerks, just as the various departmental secretaries
in Washington are clerks of the President. It would be better,
perhaps, if they were collectively responsible like the hoard of
du-ectors of a railroad or the English Cabinet ; but, considering
that all the accountability is lodged in the Mayor, it is obvious that
he, if he wishes to perform his duties efficiently, should work in
harmony with the different heads of departments, and confer with
Lliem collectively or individually, according as the subject was of
general or of special importance. Ex-Mayor Low, of Brooklyn, the
first chief executive of that city who was responsible as Mayor Grant
is responsible, strongly advocates these conferences. Hesays: "The
heads of departments having been appointed, it was the custom of
the writer to hold a meeting in the Mayor's office with all his
executive appointees once every week, except during the summer
when the Common Council was not ha session. * * » When a
question was brought up of general interest to the city the whole
company discussed it, giving the Mayor the advantage of their
experience itnd judgment. These weeidy councils were of great
value to the Mayor in determining his attitude on the various ques¬
tions raised during his term by the Common Council of the city.
* * * These gatherings of the executive officers were useful iu
other ways than this. They made all the heads of departments
personally acquainted wifti hhtth other; and converted the machin-