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Real Estate Record
AND BUILDERS' GUIDE.
NEW TOEK, SATUEDAT, SEPTEMBEE 25, 1880.
Published Weekly by
C^5 Eeal EstateEerartr^ssonatx0n.
ONE YEAR, in advance....SIO.OO.
Oommunications should be addressed to
C. Mr. SWEET,
No. 137 Bhoauway
FINANCIAL POINTS OF THE WEEK.
The development of a •'bearish" feeling on
Wednesday wliich continiies to Friday.
A "break" in Western Union, whicli af¬
fected the whole market.
A weakness in all the " Jay Gould " stocks,
so-called because he hasn't got any of them.
Kumors that "Jim" Keane had turned
" bear" for the moment. '
Comparative strength of the "grangers,"
Lake Shore, Delaware and Lackawana as
compared with rest of market.
Erie reported to be earning at the rate of
twenty million per annum.
Reading weak on report of Receivers ?
Advance in the price of Metropolitan bonds;
which sold up from par to 103>^ in face of
the "bear" market.
Continued imports of gold, together with
excessive imports of foreign goods.
Large shipments of gold and silver to the
interior, yet money easy ; on call two and a
half and three per cent.; on time, flve per
Belief that stocks will continue uncertain
in value until October 13th, when a Demo¬
cratic victory in Indiana and Ohio is expect¬
ed to still further unsettle prices.
Depression in mining securities continuous
with no signs of recovery. Comstocks very
The fall in Governments on Thursday was
due to a fear in the " street" that we are to
have a Democratic administration after the
4th of March.
The break in Iron Mountain and Kansas
and Texas w^as caused by the discovery that
large as has been the increase of receipts of
the South Western roads, their expenses have
been equally large. The construction ac¬
count on the,Iron Mountain, will be found to
be very heavy, the road requiring new
depots, bridges, culverts, rolling stock and
repairs, but the road has a great future.
Queer—aU the financial writers of the daily
papers but seven days ago were proving that
the elevated railroads were worthless as divi¬
dend paying properties ; but for the last two
days they are unanimous in saying the stock
and bonds of these roads are a purchase.
LATEST ABOUT THE WORLD'S FAIR.
From authentic sources we gather the fol¬
lowing latest information in regard to the
intentions of those gentlemen who have the
planning and execution of the New York
World's Fair in their charge.
First—No official conference has as yet
taken place between the Executive Commit¬
tee and those forming part of the Hilton
Committee, Mayor Cooper awaiting the re¬
turn of certain influential capitalists be¬
fore calling a regular meeting of confer¬
ence. Informal expressions of opinion,
however, have passed between the Mayor's
Committee and capitalists forming part of
the Hilton Committee, all of a tendency to
satisfy the most sanguine in regard to the
great enterprise. Gentlemen like Edward
Clarke, Abram S. Hewitt, Chas. L. Tiffany
and others, wiU favor any satisfactory ar¬
rangement that may bo arrived at for the
purpose of consolidating the two commit¬
tees. It is suggested that William H. Van¬
derbilt and other railroad magnates wiUtake
a personal and pecuniary interest in the pro¬
Second—It is not certain that books of
subscription will be opened on November 10.
It may just be possible that after the various
conflicting views have been crystallized into
one sound and comprehensive scheme, that
the capitalists directly connected with the
enterprise will not go to the general public
at all for any money.
Third—These capitalists, however, insist
that the money when contributed by them
shall be under their control. In other words,
they demand the control of the method of
Fourth—^Those who are the most influ¬
ential in organizing a sound flnancial con¬
cern are strongly in favor of The Record's
idea to select the site for the World's Fair at
once, even before the subscription books,
should such a course be deemed necessary,
are opened. They believe with us in the
selection of a site before asking for any
Fifth—These same parties are unani¬
mously of opinion that the World's Fair
, should be on Manhattan Island, and that,
too, on the West Side, below One Hundred
and Twenty-flfth street.
j Sixth—The directors of the Leake &
, Watts Orphan Asylum will undoubtedly
surrender their property for the Fair, in
j view of the fact that itf) occupancy wfll bring
a handsome revenue to the institution. It
must be borne in mind that this is a quasi
municipal corporation, the Mayor- of New
being its head, ex-officio.
Seventh—That the three hundred acres,
more or less, lying between One Hundred
and Tenth and One Hundred and Twenty-
fifth streets, Morningside and Riverside
Parks, including those Parka, constitute, in
view of the above points, the only pi'oper
site for the fair; the remaining two sites
being Manhattan Square and adjoining
grounds, or the lower end of the Park where
the sheep pasture is now located, and that
the section named above is all sewered and
Eighth—That the objections heretofore
made in regard to accessibility for freight
have been overcome by the views of compe¬
tent engineers, who declare that the grade
frora the north side is not so heavy, but that
it will be an easy and quite feasible matter to
nin freight cars direct to the grounds, and
that the grade, from the south side, is al¬
Ninth—The Metropolitan Elevated Rail¬
way Company has already expressed its
willingness to build a depot at Tenth avenue
and One Hundred and Tenth street, so as to
confront one of the main buildings forming
part of the exhibition.
Tenth—Mr. Jacob Wrey Mould, has made
complete and very fine designs for the Exhi¬
bition at the location indicated, including a
ground plan, and also an isometrical pro¬
jection of the buildings, and a geometrical
elevation of the site as it will appear after
the buildings are erected. It is believed that
his recent selection as supervising landscape
architect for the Park Department, with es¬
pecial reference to the immediate improve¬
ment of Morningside and Riverside Parks,
indicates that the city officials are actively
co-operating in the movement looking to the
location of the World's Fair at the place
The Record, of course, is not at liberty to
divulge the names of those gentlemen from
whom the above information has been
gleaned. These points, however, prevail
uppermost in the minds of those who have
official charge of the grand enterprise, which
they are determined shall eclipse any of its
predecessors in this country or abroad.
Coming, as this information does, direct to
The Record, from persons who have no
speculations to promote, but who are by law
authorized to do their very best for the suc¬
cess of the coming World's Fair, we violate
no confidence by promulgating their views,
which will be embodied in official documents
before long. At the same time we are of
opinion that we render our readers a signal
service, by placing them, even at this early
date, in possession of facts of such vast im¬
portance to the property owning interest of