Columbia University Libraries Digital Collections: The Real Estate Record

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922 The Real Estate Record October 1. ISSl The following comparative table shows the official business in real e.state for the past three weeks. It should be borne in mind that there was one business day short during the past week, and the week ending Septem¬ ber 14th also shows only five days. But this table shows better than anything else can the weekly growth of the real estate busi¬ ness of the city of New York, as shown by the Conveyances and Mortgages. Week N.Y, Am't, No, No, aSd Am't, No, end Cifcy in- Nom- & 34fch ia- nom- ing. Cons, volved inal Wards, volved. inal. Sept, $ S 14 75 809.071 25 12 24,150 21 111 1,,381,993 36 16 45.928 6 28 89 1,355,333 21 19 90,593 4 Week Morfc- Am't, No, Am'fc, No. to Am"t end- gag- in- Five in- T.& in- mg, es, Tolved, perct. volved. Ins Cos. volved. Sepfc. S S 8 14 103 . 79^,1.53 13 224,700 17 227,900 21 149 1,159,231 29 235,681 28 464.4.50 28 117 1,076,874 29 469,100 27 562,500 The blue feeling which is showing itself in Wall street may be due to the exhibitions of violent temper by two of our city jour- aals. It was hoped that the death of Presi¬ dent Garfield would bring about an era of good feeling, and that the city press at least would feel disposed to treat President Arthur with tlie most distinguished con¬ sideration. But the Tribune and Times have opened a savage attack upon Roscoe Conkling, knowing him to be the intimate friend and adviser of the President. It seems that party and personal acrimony survives the direst of national calamities. The fear now is that the administration party will fall to pieces on account of a faction fight, and that necessary financial legislation wiil consequently come to naught. ---------» ■»■ .---------- Mayor Grace is winning golden opinions for the intelligence and faithfulness which he shows in the discharge of his duties as a Mayor. He has been visiting the tenement houses, accompanied by his secretary and certain officers of the Board of Health. If the charter had given him any authority, what an admirable Mayor he would have been. A NEW AND CHEAP MOTOR. "It really seems as if a French inventor has solved the problem of a motive power so cheap that it will supercede steam and render unneces¬ sary the use of electricity. It has been tested in France with excellent results and the theory of this discovery is so simple, that it is surprising it has not been thought of before. This new power is obtained by freeing the gas contained in the carbonate of lime. This gas can be recon- densed and store i to be used over again. This new invention is thus described by a French paper: A great part of the crust of the earth is consti¬ tuted of carbonate of chalk, which contains under a very condensed form, a gas susceptible, of freeing itself easily and of compressing itself to 40 atmospheres by proper pressure, and conse¬ quently of producing a like great force on free¬ ing itself. To move a train of cars by carrying a sufficient amount of this chalk and an acid such as would decompose it, would be impossible, even if the material cost nothing, because the mass would be so heavy that the weight would neutralize the force. It was ouly, then, near to great reservoirs of chalk and acid that this force could be used, but thanks to the progress recently made by science that to-day it is possible to construct ves¬ sels which will safely transport without loss this gas to any point required. It is this gas which to-day is used by the air tramways of the system Mekarski, which are in use in several cities in Prance, Every wagon carries with it gas compressed to 30 atmospheres; •at each station the empty cylinders are changed and replaced by full ones, containing a new provision of gas sufficient to last to the next stopping place, where they are again changed. The great merit of this new force is that, unlike electricity, which can only be generated by steam power, and the con jequent use of coal, this gas compresses itself easily to 30 to 40 atmospheres as soon as, by chemical action, one frees it from the carbonate of chalk, the sole expense being the cost of chalk, which is produced for nothing as it is the chief constituent of the surface of the globe, and chloric acid, which pi-oduces carbonic acid, can be made without cost if one only seeks it in manufactories, where it forms a residuum which they are often embarrassed to rid them¬ selves of. In this form, compressed at from 30 to 40 at¬ mospheres, this gas is easily transportable, a cubic yard of it weighing not more than 120 pounds, while a mass of water of the same volume would weigh at least a ton. The cylinders used in the cars of the tramways of Mekarski, containing a quantity of air com¬ pressed to 30 atmospheres, and sufficient to draw a car containing thirty people about two miles, at the rate of twenty-five miles per hour, have a capacity of six hundred gallons. The value of this discovery cannot be over¬ estimated. Coal has at length a competitor in common chalk, a far more abundant product of the earth surface. This new motive power is in actual use, and seems destined to work mighty changes in the industries of the world. WHAT WILLIAM M, LENT SAYS, Mr, Lent is just back from California, this time to stay. The writer had some conversation with him, the substance of which is as follows: There may, he thinks, be something in the new Comstock df>al. If a bonanza is not unearthed, there is a promise of one which should be thoroughly tested, Mr, Lent paid a visit to Bodie, just before coming on East, He has a dia¬ gram in his possession, showing the workings at the bottom of the shafts in the Bodie and Standard mines. The Lent shaft is down 733 feet and is about on a line with the Standard 1,000 foot shaft. All the way down in the Lent shaft was found mineralized rock; from assays taken every few feet it is found that the rock runs from $1 up to $200 a ton. The Standard people are now drifting from the Lent shaft to their boundary lin?, the inteni ion being to connect with the east cross-cut on the 1,000 foot level. There is also a cross-cut from the Lent shaft to the Mono, The Jupiter ground now belongs to the Bodie consoli¬ dated, and it is said that the claims cost them $30,000, but there will be no asse.ssment in Mr. Lent's judgment, because of the continued pro¬ ductiveness of the old Bodie workings. Mr, Lent thinks it is not impossible that a great bonanza may yet be found between the Bodie and Stand¬ ard grounds. He says everything looks that way. He alleges that Superintendent Irwin of the Standard declares there are three years divi¬ dends in sight for the Standard mine. The richest workings are not touched, Mr, Lent says Oro and the Noondays may yet become mines, but he does not feel disposed to indorse any olher Bodie property, A railroad is now under way between Bodie and Benton, partly laid along the borders of Mono lake. It will largely reduce the price of lumber in Bodie, Bodie is now within 40 miles of a railroad which connects directly with San Francisco, and freight as well as lumber will be cheaper, Mr, Lent further says, that the Bodie region is apparently a continuation of the Comstock mineral belt. He thinks the countiy between Virginia City and Bodie will be found to be mineral bearing, and perhaps thick with bonanzas. He is a large holder of Standard and has more Bodie than ever before, Mr, Lent speaks hopefully of Big Pitts¬ burgh, but says it may take time to develop it. There is nothing of special note in the mining field this week. The deal in the Comstocks is still under way, but no bonanza has as yet been discovered. There is a big Mexican property to be brought upon the market when the proper time comes. It is to be a magnificent swindle. Mr, George Roberts will probably be one of the victims. His friends should advise him not to purchase, in view of his unfortunate experience in Hukill, Freeland, Chrysolite and the State Line mines. There may be a boom in mining stocks this fall, but the outlook is not just at present promising. The tax rate for the present year wiU be about 2,67, and increase over last year sufficiently great to cause surprise among those tax-payers who have thought that with the addition of taxable new houses and a promised decrease in city ex¬ penditures that they were justified in believing there would be a decrease in their tax bills in¬ stead of an increase. The fact, however, that $80,000,000 of bank capital wliich hgretofore has always appeared in the tax list was this year stricken out, owing to the decision of the courts that the banks were not compelled to pay it, is the principal reason for the addition to the tax rate. If the city had a few more officers of the stamp of those who are in charge of the collec¬ tion of taxes due from ferries and railroads, there would be a prospect of some relief in the near future, as it is certain that if personal property paid anything like one-quarter of the amount it should be, the rate of taxation for the whole city would not be more than 1 per cent. <«►-------------------- At length action has been taken to build proper sewer.=? where population is thickest in the 23d and 24th wards. Up to this time the legal authorities -.^ould not take action, because of what they deemed the insufficient money patron¬ age involved in the work; but now until 9^ o'clock on the lith day of October, bids are to be received at the Department of Public Parks, for constructing sewers in 146th street between Third and Brook avenues, with branches in Willis avenue; in 145th and 144th streets between Third and Brook avenues; in 143d street between Alex¬ ander and Brook avenues, and others. Bids will also be received for macadamizing Broadway in the 24th ward. The contract for filling in the low and sunken land, between One Hundred and Forty-third and One Hundred and Fifty-fifth streets, and Eighth and Ninth avenues, has been given out and the work is to be completed in 360 days fj-om Septem¬ ber 5th, 1881. This is a verj i nportant maiter for West Side property owners, as the filling in of this meadow will do away with the last draw¬ back to realty in this section of the city. The Tax Arrears Commission of Brooklyn, has largely reduced the burdens upon realty which the owners were about surrendering. In many cases on non-productive lots the arrears have been reduced 50 per cent. The property, if not re¬ deemed by the owner within ninety days after the decision has been filed, will be sold at the end of the year and an absolute title given. It has been proposed to add twenty acres to Hart's Island, by filling in ground now under water with city dirt and ashes. Mayor Grace and Inspector Coleman think this is a better way of disposing of city refuge than sending it out to Delinquent taxpayers should remember the great tax sale takes place at the City Hall at noon of Monday, October 10th, AU property on which the owners have neglected to pay taxes until the legal limit, wiU be sold at auction on that day. It is proposed to build a bridge over the Har¬ lem river at 207th street, so as to make the North¬ ern railway depot at Fordham accessible to the Inwood people. They are willing to bear th© expense and have asked the Park Commissioners for authority to do the work.