Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: v. 30, no. 746: July 1, 1882

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Real Estate Record AND BUILDERS' GUIDK Vol. XXX. NEW TOEK, SATUEDAT, JULY 1, 1882. Na UQ Published Weekly by The Real Estate Record Association TERMS: OME YEAR, in advanee.....$6.00 Commimications should be addressed to C. W. SWEET, 191 Broadway. J. T. LINDSEY, Business Manager. OUR INDEX. The index to Conveyances and New Buildings published in The Real Estate Record during the last six months, -which is issued as a supple¬ ment to-day, is invaluable to all of our sub¬ scribers -who have pi'eserved their copies. With the index they may quickly ascertain vrhat prop¬ erty has changed hands on any avenue, street or lane during the period above mentioned ; for instance, a subscriber -wants to know -what prop¬ erty on Madison avenue, between Seventieth and Seventy-fifth streets has been sold. By referring to the index it will be seen that on pages 56 and 194 appear the only conveyances of property on that avenue between'the streefcs]Inameid during the six months, and, consequently, by turning to those pages the desired information is obtained, the streets and avenues being sub-divided so that few references are necessary. The same applies to new buildings, and it should be remembered that by using this part of the index subscribers are enabled to learn who built houses they may be asked to purchase, as well as the estimated costof same as stated in plans. King's County Convey¬ ances and New Buildings, as well as New York, are indexed. Those of our subscribers who may want numbers to complete files should get the same without delay. Governor Cornell again figures in the role of an obstructionist, New York needs a new Croton aqueduct, a year of drought such as that of 1S80, would he a terrible calamity, and the danger of extreme suffering can be obviated only by a better water supply. But Governor Cornell, because a matter of patronage -was involved, vetoed the necessary bill which would have given us a new aqueduct. The constitution calls for a rail- w^ay law so that cities and towns can have street car companies without special char¬ ters, A very excellent 1 iw was passed by the last legislature to fulfil the requirements of the constitution, but Governor Ccrnell vetoes it in obedience to a malicious clamour raised by interested parties. New York suffers for want of more street railways, so does Brooklyn and other cities in the State, but they cannot have them this year because Mr, Cornell is a candidate for re-election. He vetoed the biU imposing taxes upon the elevated roads, though it was a just settlement of the dispute between the companies and the State. This also in obedience to a preposterous newspaper cla¬ mour. Our population is extending so rap¬ idly that at least ten miles of new horse car tracks should be built in the coming two years, but Governor Cornell has said no! Some of his vetoes were no doubt justifiable, but this cannot be claimed for those which deprive New York of a better water suppy, and prevent the necessary extension of the horse car railroads. The markets have been strong but fever¬ ish. The very warm weather gave hopes of a good corn crop, while it was known that winter wheat, oats and grass in the southern and central belt of the country were all right. With average luck it was realized that the northwestern crops would give a good account of themselves, hence the strength in the market. The Lake Shore and Michigan Central reports were not favorable. It is clear that Lake Shore has not earned, for the last six months, the dividends that have been paid, and the pegging and bulling of the stock by Vanderbilt was not justified by the actual current earnings. Still there is every reason to. believe that the road will do better, during the coming months, as the war of rates is over, and the general busi¬ ness of the country will improve because of the larger crop. Should no disaster occur to the crops, there is every reason to believe in higher prices during the month of July, and even if the corn <5rop is only an average one, the fall and winter business will be far better ihan that of the past year. All the omens look to much higher prices for realty during the coming fall, accidents of course excepted. . enormous franchises should be given away for a song. Broadway wns in 1 he speculative eye of the men behind the Surface Railroad bill. The company that obtains permission to lay iron tracks along that great highway should pay for it all that it is worth." But the law did not prevent the authorities from getting twenty million if they could, all it provided was that they should not take less than $750,000. A correspondent in last week's Record gave many excellent reasons for believing that even under the law, if endorsed by the Governor, no rail¬ road on our great thoroughfare could ever be constructed so discordant were the in¬ terests involved. But it is provoking that so petty an interest as that of the stage lines should have stopped the passage of a benef¬ icent general law which carried out the provisions of the constitution, and that Mayor, Comptroller as well as all the editors of the daily papers were so deliberately de¬ ceived as to the purpqrt of the law. The improvement of Morningside Park, directed to be made by the act of the Legis¬ lature of 1880 (chapter 565), is fairly under way. The contract for Morningside avenue, on the west of the park, has been executed by Mr. O'Grady, the contractor, and work upon it is to be begun immediately. This contract requires it to be completed within a year. --------•-------- In the bill passed by the Legislature, au¬ thorizing the construction of street railways, there was a provision that if a track was laid on Broadway, between Fourteenth street and the Battery, the franchise should not be given for less than $750,000, the in¬ tention being to make that the ininimum price, but imposing no restrictions upon any higher figure. The proprietor of one of the stage lines thereupon persuaded the Mayor and Comptroller that the law would give away the franchise for that money, and said he was willing to pay a million dollars for it. These officials fell into the trap, and there¬ upon demanded that the Governor should veto the bill. The newspapers backed up their protest vigorously. That these busy ofiicials should be deceived by the stage line owners one can understand, but it is amaz¬ ing that the editors with the law before them and their correspondents to instruct them, should deliberately mistake the facts in every comment they have made on the bill. Says the Herald of Thursday: " We need more railroads—surface roads es- Among the plans for new buildings filed dur¬ ing the week are several for dwellings and flats on the West Side which have been announced in our column " Out Among the Builders" from time to time. Pour five-story brick and brown stone flats will be erected at the southeast comer of Ninety-second street and Ninth avenue; three three-story brick stores and dwellings at the northwest corner of Boulevard and Eightieth street; one five-story flat at the northeast corner of Ninth avenue and Seventy-third street by Mr. Edward Clark, and twenty-seven four-story brick and Nova Scotia stonedwellings on Seven¬ ty-third street, east of Ninth avenue, also by Mr. Clark. <«> A correspondent largely interested in the man¬ agement of estates gives it as his opinion that the five-day act in summary proceedings, known as the McAdam-Breen BiU, is inoperative for the month of July, although it went into effect on the 26th day of June. He argues [that although there are five days counting up to ^the SOth, the 25th day of June is excluded by law. Refers to 1 R. S., 6th edition, page 507, Section 12.—tfair banks vs. Wood, 17 Nend., page 329; Sedgwick on Statuary Law, page 418. This is a matter for a court to determine. The acts of the Legislature to expedite the im¬ provements on the Harlem River, and in relation to the grades of streetg and avenues in the dis¬ trict bounded by the Boulevard, Riverside Drive, Eighty-fourth and Ninety-sixth streets, have Lieen approved by Governor Cornell. Both of these improvements are needed, and are of very great importance to the real estate interests of the city. ------------0----------- Proposals will be received at the Department of Citj Works, Brooklyn, until July Sd, 12 m , for a fire proof vault in the office of the Register of Arrears; until July 8th, 12 m., for surfacing -ivith asphaltum and keeping in repair for five years such concrete pave¬ ments in the City of Brooklyn, amounting to 20,000 square yards, as may be selected by the Commissioners of said department; until July 10th, at 12 m., for pav¬ ing with granite block pavement Furman street, from Fulton street to Atlantic avenue, and widening the same from Fulton to Montague streets, for paving with granite block pavement Plymouth street, from Bridge to Main streets, Kent avenue, from Iiivison to Washington avenues, and Hamilton avenue, from Hamilton Ferry to Van Brtmt street; and until July 25tli, at 12 A. M., for increasing the water supply of Specially; but there is no good reason why such, the City of Brooklyn, the; increase to be taken from