.-\u^USt 21, i8q7.
Record and Guĩde
259
ESTABUSHED ^ ÍÍW.CH 21«^ 1858.
'^S^/^
^yr M tilABLlStllJ) 'O/MfrRpHt.i-7- n^—.
DEVÔTEDpfHLESTAJE.BuiLDir/G A{ÍCIÍITEeTJRE,KoUSEtíOU>DEflaRfri(»f,
BLrsĸ/Ess a^IdThemes of GEito^ 1Uter.est ^
LPRICE PER TfEAR IN ADVANCE, S|X DOLLARS.
lishcd cvery .Wurduy.
â– i'EnÄ©raoKB. - - - ^ CORTí.ANm' 1370.
Communlcíitlons ehould be addresBea to
C. W. SWEET, 14-16 Vesey Street.
,/, 1. LINDSEY. Svsinesa Manager.
be prepíired In advanee foi- tliem. Tiie Degoliatious tbat must
eiisue to preparc the treaties that wiU take tbe pĩaces of those
(leiiounced, wiU, as .sooii as set ou foot, become the topie of
niost absorbiug luterest of their diiy, înasniuch ns theÄ©r ten-
dency will revenl Brltaiu's real policy; whether this mûye is
ouly one to draw tighter the bands which uiiitG lior colonies to
Ueveelf. or whether it is to cheeU the eompGtition whieh hei-
home mauufiieturers meet from abroad. Be it either, there is a
meuaee, íhongíi greater iu oug case than in the other, to for-
elgu competltlou, lu which raust be couuted the newly devel-
oped tratîe lu irou aud steel, which this conntry has established
in Brltain, as well as the many manufaotures that have long
found a favorable marliet there.
"Entered at Hie Posl-OMce al Ncw Tork. N. F.. as second^eiuss matler^
VOL. LX.
AUGUST 21, 1897.
NO. 1,53G
WIXH tlie subsidenee o£ tlie boom on the Stock MarJíet,
the public hus an opportuniiy to loolc uround and sum
nii íhe conditions that give securities their valuc aud bugpsL
Ihe prolíabiiities for the fuUire. Bad uews, that Cûuld hud no
,,ttt=n[ion when tlic great buying uiovement wns 0», 1« uow lis-
l.ued to. The Ä©ate.i advances in wheat, beiiig eaused by un-
fíivorable reports from Ihe harvcst iields, uatiu-ally do uol as-
sîst stock., and there is geDeralli; a di«position now to awai
„,ore deíinito informatiou of íhe result^ oí ihe asrriculturai
veai- before maldng another move in fhc Grangovs. U is un-
forumate th.it tlie big strilæ in tbe soft coal fie!d« has not becu
seltled bcfore this, b.ciu«e it must adver.ely iníÄ©uencG eani-
iii"s ou the raili-oads that develop those ficld.. The íaií m
thc pviCG of silver, too, is another serion. mattev. It íh scnou«
^o the railvoads oporating in the silvev states aud also to the
■'ovcrumont that is responĸible for au immeusc amouut of for-
Ä©y-ceut rtoliars being maintaîued at a par of 100 cents. By the
c-losiug do^^-n oC the siivev mines thou.ands of raeu wiU be
thvown out of wovk, and the raiSroad. lose n groat oro-carvy-
ius business. It seems uecessavy to point out. too, that wlnlo
theve aro uumistalvabie iudications of a steady impvovGinent
iu business, railroad earniiûgs and other thiugs, to which we
iool; for indicatious of what the moveracuts oue way or the.
othor wili be, do not show that thc growth i« largo. It is m
cvevy way satisfactory, but does not justiEy the opt.nusmj^all
Stvect has boen indulging iu for the past fow weoUs ^Mien
thesG things ave brought home to the minds of tho public, the
reaction iu priccs which has beeu going ou steadily this week
will proceed to its legitimate length, carrying pncos lowei than
thev are now. Stil! thesc uufavovable featuves and the conse-
.uGuces likely to folîow them ave. it mnst be borue in mmcb
for tho immedîate futnrc. Beyond that thcre can be expcL cd
the benoficial effocts of the coufidence that auimates thc
country from one eud to auother, aud iusures iu the loug vnu
suceess aud pvosperity.
----------•----------
Wl-IAT is supposod to be simply a vesponse to an invi-
tatiou from Canada fov closer fiscal relations to the
mother conutiT. is talien to be somethiug mnch morc s.u'ious
bv the cconomic writers of Francc, Austria and Oermany.
These see In tlie ''denunciatlou" of the Belgian and German
treaties the fir«t step of a doparturc by Britain frora its freo-
U"ido poliov The English free-trade joui-mUs poiut out tbat
Cauada has not boimd horsclf not to accovd spe,;ial tliUics to
othoi- couutries i£ by doing so she couUÄ© gaiu advantage íor
hevself but the protectioniat countvios of the Coutinent avc not
c-omforted by that suggGStiou. They do uot so much desu-c
ti-ade wlth the colouy as to keep the advautages which preseut
treaties give them. Tho Germau .iournals handle tlio matter
clumsily as they usually liandlc matîers. and tlireaton repri-
«als aud înjury to Bvitain's trade. The Frencli ocouoinists, ou
ibe other haud, with natural tact and finer ecouomic seuse,
â– idmit that prevailiug conditious have beeu vei-y advantageous
lo France-as Germantí might very well admit they have beeu
to Gevmany-auû suggest the cultivation of fviendly comraer-
cial relations with Britũiu, with a view to obtaiuiug the best
terms possible when the cousideratiou of terms comes outo
tlie carpet. Should the fears of the German aud French econ-
omists prove true, that Britaîn has initiated a policy of askiug
something for what she gives, the United States will beeome
moro iuterested lu it thau they, and will have to oonsider a very
important problem. The change. If one is to be made. is some-
â– what remoíe, but not so much so that diseussÄ©on of the pvob-
able consequeuces is premature. Auy chauge in the fiscal pol-
icy of a couutvy that takes so largely from others is important
and must be followed by disturbauco of commerce, if uot by
iDjui-y to the tvade of her customers, so that it is wise to learn,
if possiblo, what foi-m the consequepces wiU actualiy talte, and
â– "p-HE disturbed couditiou of raauy pf our promiueut thor-
.i. oughfares is arousing the ire of people who do busiaess
upou them. Thĩs was to bo expected. The City is doiug an
imniciisG amouut of work, aiid the surfacG-car companies aro
pvopaving to add to the confusion by teariug up some of tho
aveuues on which they operaíc, iu ordor t.o putiu cew machin-
cry for the propnlsion of theiv cars. Sidewalks and voadways
avo impeded; the ãust is little sliott of a plague, aud the
amouutof sewev aud coal gas in the air, while it may not in-
crease the bili.s of mortality, caunot but be pvejudicial to
health.. It goos without siiying that these things injure busi-
uess. The Commissioner of rublic Works, wheu appealod to.
pleads the uecessity of the work aud states, U'uly, that he is
carryiug out the improvements that ought to have been done
during the past teu years. New York City is uow paying one
of the penalties for loug, previous iudiffereiice to its wants. So
loug as the litter and dirt were not positively obstruetive, thô
roads not impassable, tlie water supply and sewers suíEcient
I0 get aloug with, little complaiut was heard. Meantime,
howevev, wauts have beeu accumulating xmtil they have be-
oome împerative and innst all, or as mauy as the public de-
partments caii now iiaudie be supplied at once. While com-
misevatiug with those whose prospects are temporavily affect-
od, we caunot see that the Pubiic Wovks Department can do
other than it is doĩug, escept, perhaps, in the matter of tho
Kiugsbridge road, where tho Thivd Avenue lĩailroad Company
has been allowed far too uiuch leniency. Evoryone knows
that, physicaliy, New Vcrk City is ten or even twenty years
behiud the tiiues, aud it is absolutely uecessary for the com-
niou interest that it be brought up to date.
LANDLORD AND TENANT IN NEW VORK ANO IN PARI5.
IN Paris the veiative positions of laudlord and tenant are
very dilferent frpm what they are in NewYorU. In the latter â–
city, tĩie laiĸllord has practically no vecourse in case of dam-
age to his property doue by ího tenant. The tenant cao leave
the premises in the raost dilayidated condition and the land-
lord canuot get redress, even If it costs him a whole year's
reut to make the place ût for occupatÄ©ou again. The clause
in ieases which refers to ''usual wear and tear" is so elastic
and covers so much grouud that it euables the teuaut to do as
much damage as he pleases with impunity. In France, it wiU
bc sliown below, a description of the state of the premĩses is
usuaĩly drawn up before tho teiiaut goes iu, and he is bound to
leave them iu that samG state, or else pay for the diĩapidations
he has causcd. lu the abseiice of such a description, it Í3
presumed that the tenaut fouud everything in good order. On
the othor hand, the New York tenant is constantly insisting on
the laudlord making repairs which he should not be obligGd
to make. Moreover, he can quit the premises at any time, and
it is with the uíuiost diíHcuIty that the landlord can recover
the rout due, as he is unable to distrain on the furniture uutíl
he has obtaiued a judgment. ITie consetiueuce isíhattheaveragG
New Y'ork landlord wlio is living on the income derived from
real estate uever Uuows what incorae he can rely uponreceiving,
on accouut of the constant repairs he is called upou to uiake
and tíie uucertaiuty of the reut beiug paid. The French land-
lord, if he has average tenants, knows within a very small mair
gin what his íncome wiU be.
In New York, if the rent is due ou the fii-st day of the month,
the tenant will pay on the secoud, or the tenth, or when it suits
him. In Paris it is not so. There íhe reut is payable quarter-
ly, either ou the clííhth or the fifteenlh day of the raonth,accord-
ing to the amount. Not later thau mldday on the due date fhe
janitor preseuts the receipt.and invery few cases does It happen
that paymeut is not made on demand. lu I'arSs, the due pay-
ment of rent Is consîdered by the tenant as important as the
meeting of a note at due date is regarded in buslness cireles in
New York.
Another íroportant point Is tliat in Paris no tenant is allowed
to remove his furniture until he can show the jauitor proper