August 14, 1897.





Record and Guide





227







iKil.





DevÍiTED TO Re^LEsTATE.BuiLũIJJ'c íípCiflTECTURE){0USQÍOLDDEea)AI10lt
BUSIt/ESS AfÍD TheMES Of GEfto^l IrfTERpS-I.

PRICE,    PER   YEAR     IN   ADVANCE,   SIX   DOLLARS.

Publisheã every Suturãay.

TELtPHONB,               -        -        ■        -              CORTLANDT   1370.

Communicalions should be addressed to

C. W. SWEET, 14-16 Vesey Street.
J. T, LINDSEY. Bus'meaa Manager.

"Entered at the Fost-Offlce at Kew York, N. Y., «s second-class nuũter."
VoL. LX





AUGUST  li, 1897.





No. 1,535





Tou can obtain daily Information as to who is in the market
for Euilding and Engineering Materials, and as to exactly what is
wanted, by addressing The P. W. Dodge Co. (Inc), The Cam-
meyer Building, No. 310 Sixth Avenue. Increase your sales.
Keep posted.     Do as other blg firms are doing.

IN order to maiutaiii a healthy condiliou of tiiisiiiess on the
etock market, the reactioii in prices hegun yesterdaj oughfc
to go couuiderably further and doiibtless will do so. In siieh
large trading as we have seenin tiie past week there was of
conrsea good deal of thoughtless speculation, the eneourage-
ment ot' which would be au ohstaele to permanent iraprovcment.
Tbe pace has been mueh too fast, so that a good reaction would
prove wholesome and steady things somewhat. The many
ĩiHndreâs of millionsof doHars of inorease in values that has
beeu gaiued by securities since Sccretary Gage checked des-
pondency by his utterances on the currency question, nearly
threc months ago, have surely niore than discounted whatever
impvovement exists in the commereial situation, aud we ought
uot to look for a uew advauce uatil some of the many good
things wehave beeu promising ourselves, .iustiâably no doubt,
have beeu oMaiued. If the ũual results of the agricultural
seasou redeem the prophecies that have beeu made for them '•
iE the demand foraud price of wheat are maiutained ; if a dc-
maud for eoru springs up that will raise the price of tbat graiu
materĩally, tbere will be a good basis for another ailvauce*
espeeially if thegeneralbusinessis then receiving thebeneiit of
tbe increase of uational wealth that good crops and good prices
for cereals represent. Under favorable conditious like these
we ought to have an active market until Congrees lueets in
Ueeember.





THe bardeuing of rates for money in Loudon, or, rather, tbe
temleucy tbereto siibown by tbe market, iuûlcates tbat the
<leveU)puieut of trade aud commerce is at last making some iui'
pressiou upou tbe imuieuse reserves of capital tbat liave lain so
long at tbe fiuaucial ceutres. lustead of mouey flowĩug to Lou-
don fi'om ail direetious, as bas bitherto been tbe case, tbere is a
demand upon it from aliuost all directions,and if,as seemslÍUely
and as will certainly be tbe ease iC tbe big buyiug movement
iii Amerĩcan securities keeps up, the TJnited States also draws
upou tiiat ceutre, the uuauimity of tbe demand will be com-
plete. Wbíle tbis state of things is satisfactory, iuasmucb as it
pi'oves that tbe whole world bas revived its iuãustrial aud com-
mercial activity, it at tbe same time presages bĩgher rates for
money in tbe uear future. Altliougb demands on Lonãon are
geiieral, tbe Bank of Englaud bas not thougbt it ueeessary yet
to raise its discouut rate, but tbat will certainly come wbenever
tlie prospects for tbe United States drawing gold from Loudon
becomes near. Besides tbis, promoters bave lost none of tbeir
old-time coufideuce in the credulity of iuvestors, aud continue
to fioat new euterprises witb uutiring activity. Wben tbe Uni-
ted States joins iu tbis movement and lends its giaut's streugth
to tbe world's development, money will no louger go begging at
uominal rates. The reply of the Britisb government to the
represeutatives of the Uuited States aud Franee in tbe luatter
of silver is satisfactory. beeause, in takiug time to consider
tJie subjpct tbey .sLow tbat they are alivc to tlie necessity for
íH-rion. With tbc wluilc trade of tlie Orieut de]iPiulent upon tbe
movemeuts of thĩs metal. tiicre cau be uo question that some-
lliiug wiU be done iu tbe comiug fall or winter lo at least stabîi-
itate. if it cannot rebabilîtate tbis important mouey metal. The
ti-oiible betweeu Ausíria aud Bnlgariii is purely oiie of interua-
tional etiquette, aud is HkPĨy to be tenuiuated. after a proper
period of sulks has been ybserved liy the di.spt!tants, by the
friendly intervention of otber powers.





táxes are justly to be cbarged to him. Bnt tbere is amongst us
just now an increasiug aniunis against wealtby men, wbich
may seem to soine to be only au evidence of healthy deiaocracy,
but whicb, let us remember. is ouly one short step away from'
the wider anarcliy of batred of all who possess anytbing. Tbe
Rockefeller assessiueut may be correct aud .lust euough, but tbe
element of "popnlarity" and "attack" wbich bas beeu iujected
iDto tbe uiatter by the "yaller kid" papers, by some officials and
by the crowd on the street, is uowise aud dangerous. It is un-
wise for a greal inany reasons. Pirst of all, perhaps, because
taxation witii spirit in it is oue of tbe most objectiouable forms
of bad governmeut. Moreover, it produees reactlon. We all
flee iuhospitalily, and it is bardly to be questioned tbat the in-
creasing bostiliiy to wealth is fast creating a class of Ameri-
can who live abroad analogous to tbe absentoe laudlords of Ire-
laud. lustead ot owning eslates Jiere, improving them and
spending íheir uioney with us, they rednce tbeir possessious to
purely commercial limits or very close to tbat, aud go elsewbere
lor their pleasnres. Making '■poiĸts" agaiusf a millionaire may
be popular sport. but it doesn't poy.





\K7 K do uot pretcud to pass upoii the inerits of the dispute

■* ■»■       about the assessmeut of Mr.   WiIIiam   Roekefeller's

property in Westchester.   A milliouaire ought to pay whatever





PROJECTING  WINDOWS   QUESTION  SETTLED.

T T will be seeu by tbe opinious berewith publisbed tbat tbe
ordinauce passed by tbe Common Council. in 1895, permit-
tiug sbow wiudows, bay and oriel windows to oxteud not more
tbau oue foot beyond Ibc s^lreet or building liue, is uow recog-
iijzed as valîd by the Corpoi'ath.ii Couusel, and by the attorney
to the Departmeiit of Buildiugs.   During several years last past
the sevei'al Superiuteudeuts of Buildings have refused to ap-
prove of any store or other wiudow projeetiug not more than
oue foot beyond tlie building lim..   Applieauts wonld tbereupou
ameiid  tbeir plaiis  |,y  agreeing not to project  their windows,
au,l afterwai'ds Mould eíther keep witbin the buildiug line or
project oue foot beyoud, just as tbeir belief iu what was tbeir
rights.uerved tbem to do.   Tbose persous who projected tbeir
wiudows were duly .scrved wilh violation uotices; but tbe De-
parĩmeut o(^ Buildings, to its credit. never moved in those cases,
because of a  doiibt as to tJie legality of its prohibîtions.   Thé
violatioiis,   iiltliongb   pigeou-boled,   were   matters    of    recoTd
against tbe property, aiíd in unmbers of instances loaus were
refused wben it appeared that a building was erected iu viola-
tion of law iu respect to wiudows pro.iecíiug beyond tbe street
liue.   AIl ihis time the bnilders were rigbt. and the Departmeut
of Buildingĸ was wroiig: but thi.s fĩict doesn't belp those who
uuwilliiigly iiept tbeir show wiudows back witbin the building
liue.   The uew programme does help those wbo   took   ebances
and pro.iected wiudows not more tban one foot   beyoud   the
building line.   All tbe existiug violatious for sucli projeetious
are now cancelled, aud íbe rigbt of property owners to project
wiudows within tbe limit preseribed by ordiuance will bereafter
be recognized.   riaus filed in   the   Departmeut   of   Buildinga
nujst, of course, sbow proposed pro.iections; otberwise tbe con-
stniction of such windows would be coutrary to the require
ments of tbe building law, as rightly decided iu Ihe Dick case.
Tbe decision iii tbe Broadbelt case was reudered in March last—
more tban flve nioutbs ago.   FoIIowing that decisĩon the city's
attorneys might just as well as uot bave reached their present
couclusions, and so saved much anuoyance to arcbitects aud
others.   HoH-ever. late as it does come, tbe disposal of tbe ques-
tiou bytbe officialacknowlegmentof tbeiegality of window pro-
.iectious witbiu tlie liinit of one foot beyoud the buildiug lino
will be hailed with great pleasure and satisfaction by all inter
ested.

We print below, at the request of S'uperintendent ConstaJble of-
ncial correspondence aboiit 'the matter:

New Tork. August 9, 1897.
iion. btevenscin Constable, Superintendent of Buiidings:

Dear Sir—I beg to enclose herewith the opinion of the Acting
Counsel to the Coaporation in response to my letter to him of
May 24. 1897. in relation to bhe ãuties of the Department of
Buildmgs in regard to bay, oriel and show windows which pro-
ject beyond the building line.

Tou may remember that I consulted with you concerning this
matter, and that we decîded that I should write to the Counsel
to the Corporation. which I did nnaer date of May 24th His an-
swer now disposes of the question as to our duty In these matters

The Appellate Dĩvision, in the ease of Broadbelt vs. Loew 15
App. Div. 343. decided that the ordinance of May 21, 1895 in
relation to bay, oriel and show windows was valid, aná that'the
Common Council had the power and authority to enact the same
This decision is. therefore, now controlling, and will reraain ao un-
til, if ever. it should be overruled; and it is, therefore, your duty
to pass upon a plan that shows a window intflnded to be con-
sfcructed in accordance wlth the provîsions of the ordinance above
referred to.                                                                                     ;

In fact, persons proposîng to erect such windows must show the
same upori their plans, and a failure to show the same and thfi