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Real estate record and builders' guide: v. 30, no. 759: September 30, 1882

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Real Estate Record AND BUILDERS' GUIDE. Vol. XXX. NEW YOEK, SATUEDAY, SEPTEMBEE 30, 1882. Nr. 759 Published Weekly by The Real Estate Record Association TERMS: OjVE TEAR, in adTaace.....$3.00 Communications should be addressed to C. W. SWEET, 191 Broadway. J. T. LINDSEY, Busfaiess Manager. The Real Estate Record will appear in an en¬ larged form next week, with s^reral new and attract¬ ive features. Its circulation, hereafter, will be general, not local. As we shall publish a very large edition, advertisers, if they wish to take advantage of it, would do well to send in their favors early in the week. well eat our cake and have it, too, and this is why it is money is scarce. The country is using it in a thousand ways not employed before the revival of business in 1879. There is no relief to the market, because there are no importations of gold or bullion from Eu¬ rope, such as we had in previous years. Tlie list of offici.al conveyances this week shows a gratifying increase over the busi¬ ness transacted during the corresponding week of last year. It is worth noting, by the way, that the banks and insurance com¬ panies are loaning less money on real estate this year than last. This is doubtlpss due to the demand for money in Wall street : We are exporting less and importing more tlian in former years. Wheat and flour go forward slowly, and, as their price is less, they do not make so much exchange as in 1879, 1880 and 1881. We ship less meat, while the miscellaneous list has fallen off. Hence there is no likelihood of gold coming this way until next spring, if even then. It is not improbable that before the close of the business year a demand may spring up abroad for our securities, and this would again bring about shipments of gold this way. Tnis, however, is not to be expected this fall or winter. CONVEYANCES. 1881. Sept. 22 to 2S, inclusive. Number......... ....... 89 Amount involved........ $1,333,33.3 No nominal............. 21 No. 23 I and 24th VVards. 19 Amount involved........ $90,593 Ko. nominal............. 4 MORTGAGES. Number...;...... ....... 117 Amount involved........ $1,076,874 No. at 5 per cent ...:.. 29 .Amount involved ....... $469,100 No. to Banks, Trust and Ins Co ............... 27 Amount involved........ $562,500 1882. Sept. 22 to 28, inclusive, lis $2,088,T.t4 3i 14 $10,8; 5 is 123 $1,321,3>.=> 36 $t57,5}0 20 $293,000 If the figures reported weekly and pub¬ lished in The Wo7'Td, showing the earnings of the New York Elevated Railway Com¬ pany are not grossly overstated, and those of the Metropolitan Company proportion¬ ally understated, it would seeai that any New York Elevated stockholders Who ac¬ cepted the figures of a year ago and voted in good faith for the ratification of the agree¬ ment reoiueing his dividend from 10 to 6 per cent., did so under a misconception as to what his property was really earning. Either the earnings were diverted at that time from the New York to the Metropolitan Company, or the reverse condition of things exist now, and ii is the Metropolitan people who are the sufferers. In either event it would be well for a New York stockholder to protest against the figures furnished him a year ago on which ho based his judgment as to the desirability of changing the lease. There is some tall lying somewhere. The exchanges for the past week all show a great improvement, not only over the previous week, but also over the corres¬ ponding week of last year. The commerce and business of the country has been ex¬ panding rapidly, and the only, drawback is the scarcity, of money. We cannot very THE TELEGRAPH AND ^HE ASSOCI¬ ATED PRESS.....- The articles wliicli have appeared 'in the daily m wspapers, respecting the relations of Jay Gould to the Telegraph and Associated Press, must be a puzzle to the average rea¬ der. When Jay.Gou Id succeeded in wresting the control of the great ^telegraph company from W. H. Vanderbilt, the Record an- piOunced that Gould now had the press by the throat, and that the proprietors and editors would in time be forced to recognize him as their master. The only way out of the difficulty, as was then noted, wa,s for;a unanimous demand on-the part of the news¬ papers for Congress to nationalize the tele¬ graph system, and make it a, part of the postal service of the country. In every other nation, save alone the United States, it has been found indispensable to make the telegraph a government monopoly. A Ger¬ man, Frenchman or Englishman would not for a moment consent to a private company having the control or^^knbwledge of all his family and business secrets. The apathy with which the American public have looked upon Mr. Gould's abso- solute power over the medium which con¬ veys the news and reports the markets of world, is simply wonderful. This great speculator is notorious for having no busi¬ ness conscience. He cares nothing for any interests, save his own,;and permitting him to get in the position of controller of the sole agency by which; the business of the country is carried on seems incredable in itself. When Gould first got possession of the telegraph system, the Real Estate Record forv^told what has since occurred. The same point was made time and again, yet, with singular fatuity, the newspapers of Jay Gould. Of the seven papers composing it, he now coQtrols the World, ibhe Tribune, the Mail and Express, and the Su7i. A vote has been passed discharging the Executive Committee of the Associated Press,, and transferring the collection of news and the market reports to the News Bureau of the Western Union Telegraph Company. Unfortunately, for the papers who now make an^appeal to the public, they do not come into court with cloau hands. The Associated Press itself was and is a detest" able monopoly. It tried to put a stop to the establishrnent of any new paper in any State of the Union for the last^tvirenty years. By a corrupt combination with the Western Union Telegraph Company, no new paper was allowed the Associated Press news, except at killing rates. It is true that some new papers were started, but they were at a woeful disadvantage with the Associated Press on account of the greater facilities and the monopoly con¬ trolled by the latter. A rule established by them Sifter The TFoWc? was started in 1860, required unanimous consent for the admission of a new paper. This, of course, amounted to a denial ot any sharing of the privileges of the Associated Press, yet tho monopoly was a bad thing for the journals them¬ selves, for it put a stop to wholesome com¬ petition, and this is why it is that the great papers of the country are no longer publish¬ ed in New York City. In ability and enter¬ prise the press of Chicago is ever so far ahead of the pi ess of the metropolis ; while theire are better, journals published in Boston, Cincinnati, St. Louis, and even San Fran¬ cisco, than are to be found in our own city. There, is but one issue to this imbroglio, the government must assume control of the tele¬ graphic system of the country, and, as for the cables, it is quite time that they were managed by a commission representing all the nations which they connect. The history of telegraph consolidation and cable consolidation, is a.repetition of the railroad stock watering of this country. The cables represent ten times the capital re¬ quired to lay them, as the Western Union stock represents four times the money that would completely reproduce its plant. But, if the government is to make a monopoly of the telegraph, it must nofe'pay an exorbitant price for the wires of the Western Union, That the country will not stand. In one year the government could itself build as complete an equipment as that of the West- em Union Telegraph Company. There is alre.ady a system of wires constructed to the various Weather Signal Stations which could be the nucleus of a national system of wires; but under no circumstances should the government pay more than $50,000,000 for the poles and wires of the present tele graph monopoly. the country failed to realize the danger they were in. Now come.=j to the fore the New The selling movement in government 4J^ York Herald, the New York Times, and the per cents is ominous. Conservative people Journal of Commerce. They complain that have always held that the high price of b he Associated Press has been captured by | government securities was tmnatural