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November S4, 1888
The Record and Guide,
THE RECORD AND GUIDE.
191 Broadway, N. Y.
ONE YEiVR. in advance, SIX DOLLARS.
Communications should be addressed to
C. W. SWEET, 191 Broadway.
J, T, LINDSET, Business Manager.
NOVEMBER 34, 188S.
Now let Governor Cleveland redeem himaelf, which he can do
by appointing a District Attorney who will not affiliate with the
criminal classes. The management of the department over which
Mr, McKi?on has presided has been a scandal to the good name of
New York. We want a proaecuting officer who will try the
prisoners and try and enforce the law.
It is absurd to hold free trade meetings in New Tork. The peo¬
ple to convert are the protectionists in New England and Pennsyl¬
vania. Ae soon as the manufacturers are satisfied that foreign
competition is less dangerous than that of the South and West,
then will we have a lower scale of duties, but not before, David
A, Wells and his associates should hold their meetings in Philadel¬
phia, Pittsburg. Harrisburg, Lowell, Springfield, and other head¬
quarters of the protected industries. We do want a larger
market than our own country affords for the sale of our manufac¬
tured goods, and we can never secure this until taxes are taken off
of raw material and the scale of duties are liberalized.
At a meeting of the directors of one of our leading banks last
week, not a single note from a mercantile house was offered for
discount. Tbis has not happened before during the nineteen years
the bank has heen established. The institution in question has a
very large surplus, but, like other banks, it has been reluctant to
lend money to merchants. The latter have at last become tired of
asking for accommodations, Tbey prefer to borrow of outside
bankers, mortgage their houses or limit their business rather than
submit to the humiliation of having their paper rejected by the
banks in which they have heen in the habit of transacting businesa.
The decision of the Supreme Court that the Ninth Avenue Street
Car Company has the right to extend their track along Seventy-
second street and up Tenth aveuue to the Harlem River has been
received with great satisfaction by property holders on the west
side of the city. Our singularly maladroit daily press have done all
they could for years past to prevent the passage of any legislative
enactment that would supply street railway facilities for the west
side. But this court decision fills the bill for the present. It makes
up-town property valuable because it renders more available every
lot on the west side above Seventy-second street. Now we require
a cross-town road on Forty-second street. The New York press and
Governor Cleveland deprived us of that needed improvemeot last
year, but as a great railway corporation—the Buffalo & West Shore
—will require this accommodation for their patrons, the Governor
will doubtless find good reasons for signing instead of vetoing such
a bill next winter.
The New Real Estate Exchange.
Below will be found a list of tbe geutlemen who havo sub-
flcribed for ten shares each of the " Real Estate Exchange and Auc¬
tion Rooms (Limited)." It will be noticed that the names are
among tbe very foremost in real estate circles as ownera, agents,
brokers, auctioneers and builders. Many of the subscribers, such
as Astor, Sherwood, Aspinwall, Cruger, Higgins and Hamilton,
represent great estates and families noted for their large landed
possessions. Pine street and Trinity building ia especially well rep¬
resented in this list. Over a hundred and fifty namea are yet re¬
quired to complete the needed number, 350, which, when secured,
will organize by adopting a constitution, electing officers and secur¬
ing a desirable site for the proposed Exchange. A large number of
circulars have heen sent out calling attention to the desirability of
membership in this organization. If any one who has a right to
become a member has been overlooked, it haa been through inad¬
vertence. Persons deairing to become members should send their
names in with a check for a hundred dollars to any of the commit¬
tee or to the United States Trust Co,, corner of Wall and William
streeta. None can subscribe for more or less than ten shares, 10 per
cent, in cash and the rest when called for after tbe organization ia
effected. It ia understood that after the first 250 subscribers are
secured, the remaining shares wUlj be held for a much.,highBr
figure. The commissionera reserve the right to reject the ap^.''na¬
tion of persona who should not
Astor, William . ,
Aspinwall, Lloyd .
Andrews, Geo. H., trustee
Bellamy, Albert .
Bailey, Nathaniel P.
Berrian, William .
Bogart, A. W,, Jr.
Brien, John .
Burchell, John J. .
Blakely, S. M.
Cruger, S. Van Rensselaer
Cammann, Herman H.
Cruikshank, Edwin A.
Croly, David G. .
Cudner, Albert M.
Carreau, Cyrille .
Coates, Howard W.
Clinton, A, J.
Cruikshank, A. W,
Detmold, Cihristian E. ,
Davidson, Jobn .
Degraaf, H. P. .
Ely, Horace S,
Fink, John W,
Fish, Ferdinand .
Gantz, George P. .
Griswold, John N. A. .
Hamilton, Robert Ray
Harnett, Richard V.
Honig, Isaac ,
Hinchmau, Benjamiu, Jr.
Higgins, Elias S.
Jayne, Samuel F.
Johnson, Jeremiah, Jr.
James, D. Willis
Ludlow, Edward H, .
Lawrence, Newbold T.
Leviness, J. Edgar
Lichtenauer, Joseph M.
Lowe, James M.
Leaycraft, J. Edgar
Lockwood, Calvin B.
Lockwood, Frederick F.
Magrath, John A.
Mordecai, A, L. ,
Meyer, Siegmund T.
O'Brien, Henry S,
Phillips, Lcuia J.
Read, George R.
Richards, Benjamin, Jr.
Riker, Nathan W.
Robinson, Andrew J.
Ryan, William M,
Roome'a Son, W. H. .
Sherwood, John H.
Stevens, Byam K.
Scott, George H,
Sweet, Chnton W.
Sause, Edmond J,, Jr,
Taber, Henry M. ,
Van Siclen, G, W.
Von Hesse, Christian
Weyman, C. S. .
Westbrook, David B. .
Willard, Edward K. .
Willard, James S.
Zittel, F. . . .
properly belong to a Real Estate
23 West 26th st.
25 East 10th st.
5 Pine st,
II West SSth St.
16 East 18th st.
152 East 65th st.
206 East 66 th st.
4 Pine st.
325 West SOth St.
2116 5th av.
42 West 34th st.
71 Wall St.
Bowery Nat, Bank.
22 Pine st,
9 Pine st,
343 West 56th st.
345 West o8th st.
250 Madisou av.
13 East 54th st,
43 East 68tb et.
83 and 81 White st.
Orange, N, J,
9 Pine at.
40 East 39th st.
53 Beaver st.
3 Pine st,
4 Pine at.
3 Pine St.
36 Broad st.
13 West 123d st.
915 7th av.
108 Weet 130th at.
44 Beaver st.
74 Irving place.
13 West 39th st.
923 Madison av.
29 East 18th at.
5 Pine st,
1115 Madison av,
4 Pine st.
3 Piue st,
3 Pine st,
908 Oth av,
116 East 30th st.
Great Neck, L. I,
Plainfield, N, J,
Gth av and 115th st,
33 West 33d st.
8 Pine st.
3 Pine et.
343 East 16th st.
141 Pearl St.
99 Nassau st.
49 West 46th st.
18 West 33d et,
1026 Third av.
Mr. R. A. Chesebrough now thinks that the promoters of
the rival Exchanges should come together. Of course it was not
wise to try and start several Real Estato Exchanges at one time, but
there seems no other w^ay out of the difliculty now than for the
scheme which t o far has had the poorest backing to retire from the
field. The Ludlow project has so far been remarkably successful,
as will be seen by the list of subscribers, but there are no means of
knowing how the rival scheme is getting on, as the list is withheld
from the public.
The following letter, apropos of one of the rival Real Estate Exchanges,
Nbw Yobk, November 33, 1883.
Editor Recohd and GniDB ;
Dbar Sir—I answer your note of this date asking for a list of the sub¬
scribers to the stock of the Real Estate Exchange (Limited).
I regret tbat I cannot comply with your request. I do not feel at liberty
to do so. Yours truly, Chs. Coddekt,
People who think stocks are better to hold than real estate would
do well to study tbe moral to be drawn from the sale of the Morgan
eatate. After holding the property on Madison avenue. Sixty-
ninth and Seventieth streets for ten years, it netted a very hand-
JBOme profit. So did the Central Park Weat lots—a more recent