Columbia University Libraries Digital Collections: The Real Estate Record

The Record and guide: v. 35, no. 891: April 11, 1885

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April 11, 1886 The Record and Guide. 387 THE Rf05D AND GUIDE, Published!'"'^''*'"''""'' 191 Broad-way, 3sr. -^. of their being captured or injured by a foreign power. There are many questions which should be settled by an American Congress in the event of war and with which the executive alone could not very well deal. Matters nearer home, such as the Central American imbroglio and the Kiel insurrection, may demand legislative action. TERMS: ONE TEAR, in adrance, SIX DOLLARS. Communications should be addressed to C. W. SWEET, 191 Broadway. J. T. LINDSEY, Business Manager. Vol. XXXV. APRIL 11, 1885. No. 891 STATISTICAL CONTENTS. NEW TORE CITY. Salrs of the Week. Conveyances. Mortgagees. Assignments of Mortgages. Chattel Mortgages. Judgments. Satisfied Judgments. Mechanics' Liens. Satisfied Mechanics' Liens. Projected Buildings. Alterations of Buildings. Business Failures. AU General News about Heal Estate and Building. Proceedings ot Board of Aldermen and Board of Asgessoi-s Affecting Real Estate. Foreclosure Sales. Recorded Leas^^- Saaiing material Market and Quota¬ tions. Westchester Co. Conreyances. KINGS COOTTTY. Conveyances. Mortgages. Assignments of Mortgages. Chattel Mortgages. Judgments. Satisfied Juderments. Mechanics' Liens. Satisfied Mechanics' Liens. Projected Buildings. Alterations of Buildings. Business Failures. Lis Pendens. .."^ All General New.^. and Building Foreclosi Real Estate ; Sales. NEW JERSEY. Essex and Budsom Co. Conveyances. Mortgages. Chattel Mortgages. Judgments, &c. The coming will be an important week in real estate circles. It will witness the formal opening of the Real Estate Exchange and Auction Room (Limited), an event which wUl mark an epoch in real estate deaUng in this city and, indeed, in the coimtry. Here¬ after New York realty will have its recognized organ in this E-T-ban^e. and its i.»?teiests will be car"ed for'even iaore thoroughly than are those of stocks, cotton or grain, for the exchaiigt^t? which represent these interests are merely business concerns where trad- ng can be carried on and regular commission rates are recognized. The new Real Estate Exchange will do more than this, for its aim is to reform defective laws affecting real estate and to throw its influence on the side of economical local government. So far the laws have borne heavily on real estate. Dealers and owners are taxed heavy costs for buying or selling it. They are forced to pay title searchers and lawyers large sums, and to bear burdens not demanded in the purchase and sale of any other com¬ modity. Then the trade has been in confusion because there has been no established organ to fix commissions. Hence there has been cut¬ ting and litigation, rendering the business uncertain and insecure The new Exchange once established will evolve order out of chaos. The opening ceremonies of next Tuesday will be purely of a busi¬ ness character. There was some reaction in the market yesterday, as war between Great Britain and Russia did not seem bo certain as it did on the day before. But the fact remains that hostilities have taken place, and blood has been shed and the military authorities on both sides are anxious to try conclusions in the field. Events are more pow¬ erful that kings and cabinets. A collision in Central Asia was certain to occur sooner or later. In all human probability the great duel will begin this spring. It may result in the settlement of tbe burning Eastern question, and wUl most probably involve in time a general European war. Should there be a conflict of arms in the Old World it will un¬ doubtedly advantage American interests m the way pointed out by " Sir Oracle." The cotton industry will be the only one that will suffer, but the manufacturing and grain and cattle growing states will reap a rich harvest if the great powers of Europe become engaged in war. --------•-------- Should the news continue warlike a demand ought to be made on President Cleveland to call an extra session of Congress. There is always danger of our becoming entangled in any general foreign conflict. Our coasts are unprotected and our cities are at the mercy of any naval force. We should not run the tremendous risk AttentioiT i Rebuilding New York. -*«on been called from time to time to changes taking .IT :L.;j->pai-!i... ,^jQjjg Qf jj^jg igiand. In no city in tlia place m tbe old settled p..raotK. ,^^ ^^^^^^^ ^j ^j^^ -^^^^^^ ^^^^^ ^, world 18 population so dense as in ;X>"..,tij,^ ^^ jj^^ ^^^^^^ ^^^ j^ the Central Park. The increase of popm'.l' structure is designed to becommg greater every year, for every new ^ Hgnce we find our accommodate a large number of occupants. ISets gorged with sidewalks are becoming more crowded and our str>r. ^f ^be city is vehicles. The problem of accommodating thetrflriy. already a serious one and getting to be more so j The island below The work of rebuilding goes on continuously. .^ of stately busi- the City Hall Park is steadily increasing,,;reer-'Onion Square and ness structures. Fourteenth 8tr§j,letely reconstructed during the Sixth avenue, has bee^^^^-f j.^^ pnvate dwellings to great stores past SIX years. Th|:Qgj.ggg j^ Twenty-third street; also in Fifth IS making stea^'jjj^^jjgjjjj gqyjjj.g^jjjpoj.jy.gggp^jgjj.ggj. We havo "ue, 6^fgfj.g(i to the Bowery and the improvements there ^ way. That greatest of east side thoroughfares is "Reined to be rebuilt from Chatham square to Cooper Union nefore the close ot the present century. Already the new stores on the site of the "VS'indsor Theatre and those on the corners of Grand and Houston streets have made changes ia the appearance of this, our oldest of business streets. Its future value will be far greater than its past enhancement in rentals. The old dry goods district has not progressed much for the last two years, but with a revival in business the Fifth and Eighth Wards wUl be speedily covered with stores and warehouses. The manu¬ facturing quarters of New York show some remarkable changes for the better. This will become evident by a visit to the region east of the Bowery. The Sixth and Fourteenth Wards are also rapidly changing their character. The " Five Points" as a resort for thieves and prostitutes is now a tradition, and a visit to Centre and Grand streets will show quite a change for the betier in the way of edifices designed for manufacturing establishments. Then there is a constant rebuilding and alteration going on along the avenues, especially these traversed by the •' L" roads. In point of fact New York is shedding its own skin and adorning itself with a new out¬ side covering, which in time wiU make it a very different and a much finer place in which to live and do business. "^s ._ What Makes The Bad Times. The Sun discusses this question in an article which was evidently inspired by an editorial entitled " World Wide" in the Recokd and Guide of last week. The Sun goes over the same ground and ad¬ mits that the depression whicli exists every where is not due to wars, pestilence or famine. Nor can it find that forms ot government nor fiscal systems, such as free trade or protection, is the cause of the business woes of every nation under the sun. Of one thing the editor of the Sun is very sure. Money is abundant, the bank vaults are full of unused cash, so his conclusion is that over-produ- tion is the source of all our woes. Great Britain, for iustance, has built too many steamers—more than the depressed commerce of the world cau make use of, while the United States has constructed too many raUroads; that is, more than can be profitably employed whUe the times continue hard. But an excels of steamships and railway lines will not account for the depression in business which obtains in South America, Africa and Asia as well as the continent of Europe; and then the theory of over-production breaks down thor¬ oughly in view of the myriads of human beings who are shoelei-s, hungry and half naked in this world of comparative plenty. The Sun, pointing to the pUed-up treasures in the banks, says: See, there are lots of money, more than business can make use of; butthe hun¬ dreds of thousands of idle workingmen say, Yes, but I have not got any of it; I am wUling to work at reduced wages but I cannot find employment; and in every department of business the cry is the same: we have not the where-withal to buy with. Notwithstanding the pUed-up stores in the banks and the low rate of interest, may it not be after all that there is not enough real money to insure steadiness or an advance in prices ? The work of the world is stopped because no one wishes to produce or buy on a fnlling market. Formerly the two precious metals co-operated in measuring prices, and every addition to the volume of the cur¬ rency from any source cheapened money which showed itself in an advance in prices. It is this wliich stimulates business. People who produce or work do it to make a profit. If their enterprises are certain to result in a loss tliey stop production. When the work of the world is checked, labor is unemployed and consump¬ tion is reduced to a minimum, and then the waiehouses of the world are filled with goods because the people are without money