March 31,1894





Record   and   Guide.





467









^X                ^             ESTAuusKED-^iAiwpHsr^ieee,

Dev&te) to Re\L Estate , BuiLoi^fe !\rci(itectuhe ,Ho\ise«oid Degoi(atio((,
Bi/sii/ess a!^ Themes of GEfteR,/iL If/TE!\,Esi.

PRICE,  PER   YEAR   IN   ADVANCE,  SIX   DOLLARS.

■  Piililisheil every tSalnrday.

Telepiioi'k,......Cortlandt l.'STO

Communications should be uddressed to

C. \V. SWEET, 14-16 AVsey Street.

J. 1. LINDSEY. Husiitcss Manatjrr.

Brooklyn Ofi-k-e, '276-282 W.isHtNCTtiN Stkeet,

i,,,                  Orr. Port- Offh-e/-

*'Enteretl al Ihc rtisl-opicc nt Vew York, A. Y., as second clu;    matter."





Vol. LIII.





MARCH 31, 189 t.





No. 1,359





Eor additional Brooklyn mutter, see Brooklyn Department imntediutely
followiiitl Netc Jersey records {patte'>ll).





rr^HE efite<-t of tlie veto of tlie Seijjiiiornjie Kill on the storl<
-^ uiiifket hiif) been very .^iiiiiill. On it.s iiiiiiomieeiiieiit there
Wii.s .some reiiliziiif;'iind riiin^idei-iilde .-iliort selliiifi-. hut twenty-
tour hours showedbolli to liiive heen iiiii<iii(l}t'e(l, as the niiirket
elosed unite .stroii;;-, with the prosiieet.s in favorof istill lii.i.'her
tijnire.s. The ternis of tlie veto niessii^re. espeeiiilly the iiitiiiiii-
tiou thiit the seif;iii"rii.ne iiiifrlit, ittuler eertiiin iiiiiiieil (-ouditioiis,
be eoiiieil, jnstiHed ail exiieetiitioii of a full in ]iriees. but tlieii-
ijiHuence Wiis more thiiii ott'set by the btiyiuj; movemeut whieli
set iu at the elose of last mouth iiud whieh ]iiid not exiieiided
itself. This biiyiufiis lar,s;ely of liouds, in whieh .\Iiirili uiiikes ii
better reeoid than his beeu uiade by iiuy one mouth for .some
time. 'I'lie fiilt-ed^ed issues jiassed loii;;- iifjo out of the
reiieh of the siieeitlatix e buyers, aud uow with the imiirove¬
meut that is seen ill jjeueral business iiud the lesseuiiij; of the
loss of eiirtiiiifis on the railroiids, their iittention is turned to the
i-lieai) bonds with the result that eveu the least esteemed of this
i-liiss hiive iipiiieeiiited ill priie. Wheu activity iu these seeuri¬
ties is iu-eompiiuied by risiu;r i[Uoti!tious it isa di.stiiiet siii'U of
reltiriiiuf;- i-oulideiii-e. If there is ii weak iioiiit in the jirospeet it
is that foreiyii liiiyiii>r has larfjely helped to briiijr iibout this
result, and .so loiif; as our i-uireui-y laws are a liuiidle of expe-
dieuts iiiiiiiitiiiued be.voiid t he period of the eiiierfi-oney they were
intended to meet, fmeifiu biiyiiin- of our own securities will be
siieeulative ouly iiud our market liiible to be disturbed iiud
pi-oy:ress chei-ked whenever foieiKUers stop to take p otits.
Busiuess outside of the slock market, taken as ii whole, is not
i|uite as good its it was ii week ano. The iiii-lemem-y of the
weather uiiij' have hiid sometliiufr to do witli this, and sunshine
may briiifr with it better news. Th<- reports of the results of the
cold weather ou the crops have to be sifted dowu .so tluit it can
be seen what diiiiiiiije has lii-eii (huic and iiieiiiitime orders may
be held back, but the tiltiuiiite opiiiiiiu will probably b<> that
damage should help prii-t-s, and wluit is lost iu one wtiy will be
made up iu another. The iron tiiide is not so aetive tlutt a strike
iit Couiiellsville <-aii do it much diimage, provided it does uot
last very long. The shoe tiiide seems to be the brightest sjiot iu
the eoiumerciiil prospeet .just now. for not oul.v are factories
Itusy but oue iu Philadelphia has voliiutarily raised -waiLces 2.">
per cent in oue ot its departments iu couseipienee of the
good business it is doing, lu this, as iu other liues, merehauts
have beeu doing business ou a hiind-to-moiith polic.v for ii long
time, but it is the tirst to experience the benefits of a chiiuge.
iind from now on similar results ma.v be expected from other
depiirtments of business. The veto of the Seigniorage Hill raises
a prospect tliiit litis a very importiint beiiriug ou the movement
of stocks, as well as of general liusiuess. and thiit is whether the
increased autagouism it createstotlieadministriitlon andadmin-
istration ineasures may not end in the defeat of the Taritt'Bill,
111 view of till- alreiidy greiit opjiosition to this meiisure sueh a
result is i|uite iirolialile, and in its event, or even if there is au}'-
thiug like ii general conviction tluit it will hiippeii, the bu.viug
luovemeut would receive liirge accessions of streugth, espe¬
i-iall.v iu such securities as hii\'(' lieen dejiressed beciiuse of the
Taritt' Bill, for instance, Siigiir, Natiouiil Lead, Cordage and
others.





rpilE iiuprovemenl in business in Great Britain hits not yet
-*- att'ected the iron aud steel ti-ade as a -wbole. While there
has been il demand for shipbuilding and engineering irou the
totiil output for .Tiiiiuiiry and Febriiary was lower than in the
same mouths of the previous lliree years. Even the shipbiiildiiig
interests liave been ilaiiipi'iiiil by llu- Ciincellatiou of orders for
eighteen shijis pliu-ed iutln i !m1... IIk- Euglish strike statistics
of ISiKl eiiiitiiiu llu- loUow ill. inlcri-sliiig tigiire.s: Total persons
involved,  i;0:.',t3t.;s;   successful.  :!;t(»,sH;  paitiiilly successful.





i:}4,8()4; iiusuccessful, <i8.934: result not known, 8,(126, The
report of the condition of the Bank of Engliind while removing
the suspicions (-ireulated again.'it it lias only iiitensitied the
deniaud for the reform of its luiiuageinent; it is very properly
contended tluit in the case of the agent for the^rreiisury iiud the
custodian of the reserve of the country sueh an occuirence as
tllilt -n-hich brought about the di.sniissal of tlie late chief cashier
should be niiide impossible. The French press hits raised it vig¬
orous protest agiiiust the projiosal of the Egyptian governnient
to reduce its interest jiaynients b.v conversion; it ciin¬
not admit that what has recently beeu successfully
done with a portiou of the French debt can be
done with the Egyptiiiu. The tonnage iiassiiig through
the Siiej; Cauiil (-(uitiiiues to show an increii.se over that of cor-
lespondiug iieiiods of last year. France is iucreasiug her
imports of niiiiiiifiicturcs largely, while her e.xports in the .same
class show declines. Keports froin Geriuany indicilte the
approach of a petiod of recovery in general business. The
iU-ceptance by the Keich.stag of the commercial treaty with Rus¬
sia failed to iuterest the Bourse, except to induce realiziugs. An
otticial report, states that tliere is a growing demand for silver
coins in the tieiniau Empire. The Imperial Biitik held of them.
May 1,1892, 9tl.t»4.->,()(H» marks, and on Det-eiuber :U, 1892,
Sl,35:{,( too marks; besides the amount of this decline :^,O(MI,0(M»
marks had bi-eii coined iiud added to the silver cin-ulatioii, ,\t
the close of liist December, to which date the silver (-ircnlation
had been further increased by s,()OI»,t»0(» marks, tlie silver sto<-k
of the Imiieriiil Biink had declined to S2,72(t.OOt) luiirks.
Brauch ottices of the Imperiiil Bank luid asked for no
iiK-i-ea.se of their silver stocks by 84,494,Oltl) nuirks, of
which only 9.1 per leut could be supplied. This
deiuiiud is for the liirgcr silver coins. Aitstriii-Hiingiu-,y
]iroposes, too, to increitse the amount of silver in circuliitiou.
The Austrian goverument hits also un ler coutemplaliou plans
for extensive development of the railroad system of the Empire.
The Bi-iiKilian government despite its ditticulties made uo
default on its obligations in the last half .yciir. As these sell on
a basis of 7'2 per cent ou the investment, their holders naturally
expect a rise iu the i(iiotiitioiis. But as Biii/il. with a population
of fifteen millions, mostly half breeds and liidiiiiis, luisa natioual
debt, iniliidiug guiiiiintees of iibout seveu hiiudred and ttft.v
millions of dollars, of whi<-li it is (-alculated Eiiglaiid holds one-
third, and nioieov(-r as fiict ions there are uiiiuy and their siiirits
Vfvy high, the country will have to ]irove itself eqUiil to the
fiuiinciiil burden it ciirries before its se(-iirilies ciin iijiprei-iate or
its credit be extended. .\^(-i-oi-ding to .Viistraliiin political econo¬
mists the Iroiibh-s of their i-oiintr.y arose eutirel.v from the
iniiiuitoiis and reckh-.ss wa.v in which nioii(-\ was loaued to it in
I>iiiidoii.





THE attention of our  readers is particularly directed to tht-
statemeut which  our (-orrespondent iit Albany makes in
iiuother column couceruing thefateof the Chamber of Commerce
Kiipid Transit meiisure should the public of this city eoutiuue to
manifest a cold and imiieitiirbabh- inditt'erem-e iis iit preseut.   A
proinineut real estate broker, who has .just returned from a tour
ainoiigother i-ities, said recentl.v : " Whatstrikes me ver.y foreiblv
upon getting home to New York is the complete tibseuce ot the
least public  spirit.    I  liave  been  living for several  weeks in
ilittereiit cities iu an iitmosphcre positively vibrating with public
.s](irit.    Each   individual  apiiareiitly has lively .symjiiithy aud
(-onceru foi-the advancement of the commiiiiitv iu which he lives.
The New Yorker, ou the contiarv. strikes one as dead inditterent
to  the cit.y's welfiire.    There  is  no  spontaueoiis co-opei-iitiou.
AVe are like a lot of prairie dogs, we have each got a hole and
tllilt aud oiirown partii-iilar personal iuterests are all we have au.v
coueeiu for."    This  indeed  seems to be the  case, wheu  at  .so
criticiil    a   monieiit   as    the   preseut,    when    siii-h    enormous
public    interests    are    at     .stake    as    iu     this    matter    of
rapid    trausit,    not    a     voice    is    rai.sed,    not    a    meeting
has been held to support a  measine,  the failure of which must
result in hiiniling o\ er the solution of the liiiiid tiiinsit problem
to private iudiviiliials, uho are little Iikcl.\ to give extreme con¬
sideration to public interests.    If the Chamber of Commerce bill
be killed rapid trausit will be delayed, to .say the least, auother
.vCiir.    But of more consei|ueiii-e than d(-lii.\   will be the encour¬
agement that defeat will give to ]ioliticiaus and private interests
to ]iusli forward their schemes.     The elevated   roads will  be
emboldened to grab for siu-h streets and avenues as may suit
their divideiid-iuaking plaus. iiuito irre.spei-tive of the general
interests of the <-it.y.   It is even not improliiible, for such has
already been hiuted at, that ett'ort will be made to secure fiivora-
ble legislation com-erniiig damages to real estiite ai-i.sing from
the erection  of new elevated structures,    'i'he politicians  will
work   ctm   itiuiirc   with   any   sueh   iiliin    for    the    s])oliiiiioii
of   the   city,     Jor     their     interests,    as     is     the   case    with
all private interests iu deiiliii.u with rapid li-iinsil, iire in a meiis¬
ure opposed 111 those of the cit.\ at large.    H' Iliis should liap|ieii.
real estiili'men will hiive uo right lo cniiipliiiii.    They  have not