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Dacember 6,1884 The Record and Guide. 1225 transition atate. In Germany, Bismarck is quietly placing himself in harmony with co-operation, people's banks, laborers' insurance com¬ panies, etc.—Atlanta Constitution, The Canadian Pacific. That the Canadian Paciflc Railroad will be completed there can be no question. A good many engineering difficulties have been surmounted; more rapid progress haa been made than at one time seemed likely, but when tbe line haa beeu completed, what then! The Canadian Pacific is essentially a political line. When the union of the different provinces in British North America was proposed, it was part of the bargain that a transcontinental road through Canadian territory should be built. The pledge was entered into rather rashly, perhaps, but it had to be fulfilled without any consideration as to whether, after it had been built, tbe rail¬ way could be made to pay its expenses. By what means the company has been hitherto financed is partially known. It would be well if all tbe methods employed ■were more fully known, as they will be one day. A good deal of light ha*" been thrown upou tbem, but not quite as much as could be wished. Still, unless all the estimates of the engineers are at fault; unless Mr. CoUingwood Schreiber la deceived as to the amount of work still to ba done and its cost, there are sufficient funds at the dia- ppsal of the company to accomplish the work laid oat, and to complete a through line between Montreal aod Port Moody on the Paciflc Ocean, a distance of 2,895 miles. Again we ask, what then? It is certainly practicable to build the line, but how is it to be made to pay ? The com¬ pletion of the line will only, we fear, mark the beginning of fresh flnan- cial troubles. The Canadian government may, by giving a guarantee uf 3 per cent, per annum for lhe neist nine years upon the capital stocu of the company, have been able to procure the funds for construction of a road for the building of which a pledge had been given; but is the govern¬ ment prenared, in addition to its gunrantee, to make good the yearly deficiency between gross eamingsand working expenses which will almost certainly occur; and if not, how is this deflciency to be met ? It aeems to bave been taken for granted that the road would pay its working expenses; but of this we fail to aee any asaurani'^e, or, in point of fact, aoy prospect. Where then is the deflciency to come from ? There ia a similar case in Brazil, of a railroad enjoying a governmfnt guarantee which can¬ not pay ita way. The Imperial Brazilian, Natal Sc Nova Uruz Railway has a guarantee of 7 per cent, upon a capital flxed at £618,300. This guarantee, amounting to £43,231 per annum, has hitherto been punctually paid by the Imperisl government, but It does not suffice to pay 7 per cent. to the shareholders for the simple reason that the line is falling short by aome £10,000 per annum of meeting its working expenses, and thia defl¬ ciency bas to be made good out of the sum received from tbe Imperial treasury, because there is no other fund out of which it can be paid. Supposing tbat in a similar fasbioa the Canadian Paciflc is unable to pay its working expenses, will the Dominion government pay the difference between the income and tbe expenditure of the " prodigal son," or will it say that the deficiency must be made good out of the guarantee ? This Is a question which we have net heard broached, and one to which certainly no definite reply has been given. Why does not Mr. Stephen tell the shareholders something more ? Why doea he not speak out frankly as to the position and prospects of his road ? He has been here for some time; yet beyond vague rumors every now and again as to the formatiju of fresh syndicates there bas been nothing to indicate bia presence in London. —London Einandal News. A \ew Great Ore Region. A district that gives promise of becoming an important producer will be opened upon the aouth shore of Late Superior before the shipping seasou of ISSi comes to a close. Thia is the Lake Agogeebic range, wLere numer¬ ous iron properties have been developed to such an extent that they will be preparer 1 to ahip ore as soon as the railroad tapping tbat district reaches Ashland, which la to be made the shipping port for the Agogeebic mines. Ore docks are in course of constructioa at Ashland, and tbe contractors expect to have the road—the Milwaukee, Lake Shore & Western—through to that point by November I. Thoae interested in the new field Intend to make agood showing next season, and your correspondent sees no reason why that district should not be beard from loudly next year, as there is plenty of ore there, and much of it is of flne quality. With reference to the future, the writer evidently bas very great faith in the advantages of the Lake Superior region, for he predicts: " The iron flelds lying south and west of Lake Superior in this State, Wisconsin (p;rt of the so-called Agogeebic mines are in the latter State), and Minnesota are destined soon to furnish a vastly enhanced quantity of the very best ores in tbe world. Not only tbia, but they will place their ores on the market at prices tbat must necessarily drive out the inferior ores of certain competing fields, which were able to fiud sal6*for their product while high prices were maintained by making heavy concessions to furnace-owuers, and thereby making it an object for the latter to use these ores, though the grade of iron produced was cot at all equal to what they could obtain by using the Lake Superior ores."—Cor. Pittsburg Telegraph. Look Here, 31annfac(urers and Merchants. Everyone may not kuow that a very important agreement has recently been entered into by the governments of Great Britain, France, Italy, Belgium, Spain, Holland, Portugal, Switzerland, Servia, Brazil. Guate¬ mala, San Salvador, Ecuador and Tunis for tha formation of an Interna¬ tional Union for the Protection of Industrial Property, under the rules of which "the imbjacts or citizens of each of the contracting States shall enjoy, in all the other States of the Union, in everything that concerns patents for inventions, designs, models aad trade marks, the sarae advan¬ tages that the law of these Ptates accords to their own citizens, including the same protection and the same legal remedy against persons infringing their rights, on the aole condition of submitting to the formalities and reg¬ ulations which each State imposes on its own citizens." Under the same treaty it is agreed that commercial names shall be protected in all the States belonging to the Union, by the seizmg, at tbe request either of the party injured or a diplomatic representative, of articles imported into auy of the Union Statea under a fictitious name of a peraon or place, or otherwise marked in a way calculated to deceive purchasers, or to injure the business or reputation of establi'ihed manufacturers; and, moreover, that applicanta for patents or inventions who have flled their application in any one of the treaty States, shall be entitled by tbat act to a term of six months for European countries, and of seven months for countries beyond the sea, within which he shall have the right, prior to all others, to'file applications for patents in any or all the otber Statea of the Union, in accordance with the regulations of eacb State in regard to patents. tral Park, on or before Tuesday, December 16, aud examine the plan showing such proposed grades and file any objections they may have thereto before final action is taken hy the Department in relation to tha same. Notice is given that tbe Board of Street Opening and Improvement deem it to be for the public interest to alter and cbange the grades of streets and avenues, and portions of streets and avenues, in order to adjust the grades thereof to the grade of Sth avenuo within tbat section of the city bounded on the snuth by tbe northerly line of 59th street, on the north by 123d stree , on the east by the westerly side of the Central Park and the west¬ erly side of Seventh avenue, and on the we^t by the easterly side of Ninth avenue. --------------------------------------------------•———■—■ Defending the Bakers, Editor Record and Guide. I see you are inclined to tbink tbe bakers are making a fortune too quickly. Please look at it from their standpoint. After an experience of twenty-four years selling their goods, what I say on tho subject ought to have some weight. A single barrel of flour, U'6 pounds, will make 2S0 pounds of dough. Tbey are uow sealing IS ounces for 5 cents, making 249 loaves selling for $13.45. The average expense of working up a barrel of flour is four to flve dollars—it depends greatly on the number they bake—say it costs %4 50, leaving $7.y5 to pay for the flour, whicb costs the baker now delivered $5,511, leaving 83.45 for his proflt and out of this he must deduct for stale bread, wbich Is considerable at times. You of course know rent haa not varied much the last five years, wages, coke or coal are tbe same, the only thing that bas fallen in pri';e are the gooda he uses. It is a business that requirea close personal attention and he must bercorfi/to work every day in theyear, and to saue anytbiog the " Boss " bas to ao more work than auy man oe hires, consequently tbe proportion of failures are quite a^ large as in any other business. There are a few bakers making larger bread for the same money as well aa some (and only a very few) making smaller, but the above is the average_price per pound for breed sold in and about New York city. Boss Baker. Remarks,—Our correspondent will uot convince bread-eaters that tbey should be charged as much wben wheat is 80 cents a buahel as they were wben it was $3.00 a bushel. Rent and labor have got to come down, and bakers' loaves must become larger or there will be a row among con¬ sumers. Ed. Record and Guidb. Notes and Items. Property owners interested in the grades proposed to be established for Riverdale avenue, from old Riverdale avenue commencing at T'bbet'a Brook and running to Broadway; Broadway, from Riverdale avenue to Weber street; Cburch street, from Riverdale avenue to Weber atreet; Ackerman street, from Riverdale avenue to the Spuyten Duyvil Se Port Morria Railroad, and otber streets affected thereby at Kingsbridge in the Spuyten Duyvil Distrietof the Twenty-fourth Ward; are requested to call atthe office of the Topographical Engineer of the Department of Publio Parks at tbe Arsenal building, Sixty-fourth street aud Fifth avenue, Cen- Real Estate Department. Judged by tbe filing of plans for new buildings and ths number of Conveyancea at the Register's offlce, real estate dealing ia in a fair way. Undoubtedly there are r, greater number of transactions thau last year, and money is stilt being invested in new structures, but, on the other hand, there are very few auction sales apart from tbe foreclosures, and these laat are unpleasantly frequent. Dealers do not speak hopefully respecting rentals next spring nor does anyone estimate higher prices. Tbere may be an active businesa, but it will he at reduced valuations. Should this wiuter see any reform in our system of transfers it is pos¬ sible that tbe dealings might be very active in the spring after the new Real Estate Exchange is under way. In the meantime business is unde¬ niably dull. There were bat few sales at'tbe Eschonge during the week except those held pursuant to court orders in foreclosure or partition suits. Nearly all of the former were ubw dwellings or tenements and parties in interest invariably became the purchasers. The New York Life Insurance Com¬ pany bid in seven houses on East Sixty-fifth and Sixty-seventh streets, on which there was due the company nearly $000,000. Next week dwellings, tenements and lots will bs sold under foreclosure on which $189,' CO is due the same company. Yesterday atore property on Greenwich street and Ninth avenue, and lota on West Twenty-flfth aud Twenty sixth streets, were sold at good prices. On Wednesday the flve dwellings, Noa. 33, SS, 41, 43 and 45 East Sixty-third street, were withdrawn from sale, as satis¬ factory bids were not made, 1883. 18S4. Nov. 30 to Dec. 6, inc. Nov. 23 to Dec. 4, Inc. Number...................................... ^86 ^35 Amount involved.............................. 84,173,605 83,160,'fflO Number nominal............................ 87 57 Number 93d and ^-Jth Wards.................. 37 4i) imount involved.............................. *4T,081 ?53,695 Number nominal............................... 8 3 MORTOAOKS, 213 ■ 199 Number ...................................... Amount involved.............................. $3,58S,aKfi Number 5 per cent.......................... b7 Amoimt Involved......................---- 85C0,70O Number to Banks, Trust aod Ins. Cos......... 11 Amount involved............................. 8190,000 Number leas than 5 per cent ................ 3t Amount involved.............................. $674,500 82,015.8^8 61 SGS4,S06 9 8334,500 3-1 S850.000 BBILDIKOS PROJECTED. 1883. Dec. 1 to No. buildings...................................... GS Cost............................................... 8930.800 1884. Nov. 29 toDec. 5. 37 8i73.3ii0 R. V. Harnett will aell on Tuesday, December9th, the two four-atory brown stone office buildings with stores Nos. 21 aud 33 Maiden lane. These are extremely desirable investment properties. This section of the city is now tbe headquarters of the diamond, gold, silver and jewelry trade of the country. As thia ia an executor's sale, we expect to see a large attendance of investors and very spirited bidding. Thia ia leaaehold property witb renewals. Attention is called to the valuable businesa property offered by V. K, Stevenson Se Co.,No. 1''0 Broadway, embracing bouaeson Broadway run¬ ning through to New atreet, and lota on Fifth aud Madison avenues, on Broadway and Fifty-ninth street; also lots on Oue Hundred and Forty-fifth street, near the "L" station, Theae parcels are among the choicest on New York island, and are portions of the estate of the late Mr Stevenson. Gossip of the Week. GeorgeR. Read haa aold, for G, Natcrp, tho storage warehoueeftiroperty, Nos. 536. 538 and 540 Water street, extending through to Nob.