Columbia University Libraries Digital Collections: The Real Estate Record

Please note: this text may be incomplete. For more information about this OCR, view About OCR text.

January 29, 1887 The Record and Guide. 131 dimensions of the building are now 60 by 130 feet, the wall on the southern side having been taken down and a width of 10 feet added. The house has a high basement, above which are three stories and an attic. The style is the Italian Renaissance. The building is massive and elegant in appearance, shows elaborately-carved band-cour'^es and other ornamental features, and is to have a flne entrance. On the parlor floor there will be a richly- finished staircase hall, 25x27 feet in dimensions, a large reception-room and drawing-room, and a music hall, 26x48, with an organ-room adjoining it. The house will be finished by next spring or early summer. On the northeast corner of Fifth avenue and Seventy-fourth street, opposite Mr. Pickhardt's house on the cross street, is a handsome three- story and attic brick house with brown stone trimmings, nearly finished, belonging to James McCreery, the dry-goods merchant. There is a peaked tower on the street side, and the design has a good deal of the original and striking character that suits the fashions of the day, while it is perfectly restrained within the limits of good taste. Adjoining this house on the north is a four-story and attic stone and brick house ready for the interior finish, belonging to J. H. Schiff, the banker, and designed by William E. Mowbray. The dimensions are 25x60, with dining-room extension. The front is chaste and handsome in design, and has an oriel window resting on a grotesquely-carved corbel as its strongest featm'e. This dwelling adjoins the residence which Mr. Schiff owns and occupies, and which is remarkable for the tasteful carving in the stone, and especially for its oriel window supported by two caryatides. This house>nd the plain but elegant resi¬ dence of A. S. Hoyt, north of it, with the new houses that are in construc¬ tion, make this neighborhood on the avenue a remarkably handsome one. Building Material for Increased Dock Legislation Affecting New York City. [From our Own Correspondent.'] Albany, January 37. The five Land Transfer Reform bills which were reported favorably by the Assembly Judiciary Committee have been referred back for a hearing desired by parties in opposition, retaining their place, however, on general ordei's. The bills are identical with the measures which passed the Assembly last year, but failed in the Senate for want of time. Unless the opposition is of a serious character they will pass next week. The radical changes in the New York city building laws, as proposed by the bill introduced by Assemblyman Shea, are not likely to receive favorable consideration at the hands of the Cities' Committee, which committee has already looked the bill over. The measure really emanates from the Bureau of Buildings of the Fire Department, and its main provisions appear to be decidedly objectionable to a number of the committee, particularly the section which is intended to limit the dimensions of tenements hereafter to be erected in the city of New York to 65 feet in length and 23 feet front to each city lot. Corners are exempted from these limitations. The space between front and rear buildings is fixed at 20 feet for one story, 2.5 for two stories, 30 for three, and 35 for four. The committee has ordered the bill printed, and a careful scrutiny will be made into its provisions. Assemblyman Shea proposes to accomplish a great deal in a few words. He has submitted a bill to repeal chapter 173 of the Laws of 1885. The act has reference to the acquiring of title to lands required for public purposes m New York city, and the manner in which such land shall be paid for. The Assembly Cities' Committee has as yet no intimation as to the object of the repeal act, and until a satisfactory explanation ia given it will "rest in their possession. Mr. Shea has not as yet vouchsafed any reason for its presentation. The Mutual Fire Insurance Company of New Yoi'k desires to become a stock company, with a capital of $i()0.000 and a board of trustees of thir¬ teen members. To accomplish that object a bill has been introduced in the Assembly. The present trustees are retained until the next anuual election. Assemblyman Ives' bill for the erection of a public building, under the direction of a commission,' has been considered by the Assembly Cities' Committee, but no action was taken upon the bill for the present!^ until it is printed. A bill to open One Hundred and Sixteenth street through the Lunatic Asylum, from Tenth avenue to the Boulevard, is in the Senate, the work to be done as provided for by existing law. The bill is accompanied by a petition of the Citizens' West Side Improvement Association urging its passage. Assemblyman McCann has submitted a bill which requires that all adorn¬ ments hereafter on buildings in Brooklyn shall be of metal substance. The measure is similar to the law in force in New York, and is intended as an additional precaution against fire. Senator Plunkitt has a bill to spend $500,000 ""on improvements and additions to the Museum of Natural History, Central Park. Mr. Hamilton has a similar bill in the Assembly, with the amount fixed at only $400,000. A bill for the desired object will probably be passed, as there seems to be a sentiment in favor of it. Assemblyman Shea has a measure authorizing the Commissioners of the Department of Public Parks to take from the file so much of the map of the Twenty-fourth ward as lies west of the Harlem Railroad, and extend¬ ing from the north side of Welch street to the south side of Kingsbridge road, known as Depot street, so as to restore the street to the present width of the map—30 feet. The Cities' Committee has ordered the bill printed. Assemblyman Mclntyre, of New York, again trotted out the pet scheme for an exterior street of 150 feet iu width, from Sixty-fourth to Eighty- sixth streets. East River, According to the bill the Dock Department is to pre¬ pare plans within three months'from the passage of the act, subject to the approval of the Sinking Fund Commissioners. Then the Public Works Com¬ missioners shall acquire the necessary lands through eminent domain. The Dock Commissioners are authorized to build a bulkhead the entire distance, and the cost of the latter shall be defrayed out of the amount appropriated by the Board of Estimate and Apportionment for bulkhead purposes. The bill repeals chapter 285 of the Laws of 1852, providing "for the establish¬ ment of an exterior street along that part of the Harlem River south and east of Third avenue, and any exterior street laid out or opened thereunder is hereby declared to be closed and discontinued." This latter section looked to the committee as affecting some particular interests, and the bill was ordered printed, in order to enable contending interests to know its contents. The fourth week of the legislative session has passed and still the "grind" of bills has not begun. Tne Cities' Committees of both Houses have passed upon only a few unimportant measures. There are quite a number of bills in posses¬ sion of the two committees designed to affect real estate and buildins interests of New York city, but all are held in abeyance until more is known of the provisions than the introducers could or would give. Most of the measures of the above character come here through Senator Plunkitt and Assemhlymau Shea, who,- represent tbe upper portion of the city. Dealers Ask Facilities, A special meeting of the Board of Dock Commissioners was held at the office of the Board last Thursday noon, in order to afford an opportunity to representatives of the building material associations to prefer their request for increased dock facilities. The Lumber Trade Association and the Building Material Exchange were represented at the hearing, the following-named committee appearing in their behalf : Lumber Trade Association—Charles A. Meigs, John S. Mason, E. H. Ogden, W. G. Schuyler, D. J. Carroll ; Building Material Exchange—Robert C. Martin, Hiram Synder, Samuel L. Keene, M. P. Dunbar, H. B. Homan, W. K. Hammond. Mr. Martin spoke in behalf of his Exchange, and after presenting some statistics showing the wonderful growth in the amount of building ma terials annually delivered in New York city, asked that one pier in every ten piers on either river be set aside for the purposes of general commerce as soon as the existing leases expire. Mr. Martin also opposed the petition of the Compagnie Generale Transatlantique for permission^to erect a shed over the bulkhead between piers 42 and 43, on North River, on the ground that the erection of the proposed shed would tend to still further decrease the general dock accommodations on North River. Mr. Meigs, who acted as spokesman for the Lumber Trade Association Committee, indorsed Mr. Martin's remarks, and detailed some of the diSiculties experienced by build¬ ing material dealers in unloading their consignments in this city. After Louis de Bebian, agent of the Compagnie Generale Transatlantique, had defended his company's petition in a brief address to the Commissioners, Commissioner Stark replied iu behalf of the Board to the two committees. He said that the Board fully recognized the justice of their request, and promised that as soon as circumstances would permit arrangements for their further convenience would be made. The petition of the French steamship company was tabled. Active Interest Manifested in Morningside Park. A delegation from the Morningside Pai'k Association, consisting of Messrs. D. H. Olmstead, P. M. Bixby, Frank Tilford and Philip Teets, appeared before the Park Commissioners last Wednesdey afternoon, and petitioned that the improvements in and about the park might be speedily completed. The petition of the association presented by the above com¬ mittee specially refers to the necessity for better connections between the elevated road stairways at One Hundred and Sixteenth street and Eighth avenue, and to the desirability of immediately completing the improve¬ ments at the northwest corner of the park. The association also formally announces its approval of tho bill now before the Assembly, giving the Park Commissioners entire control of the avenues and streets adjacent to the park. In reply to the petition the com¬ missioners expressed entire concurrence with its statements, and promised that as soon as the necessary money was obtained the work should be completed.______________ Financial Points. Things look mixed in the stock mai'ket. The labor troubles the Interstate Commerce bill, the railroad rivalry west of the Mississippi, all are disturbing factors in the situation. But the worst feature of all is the expectation of foreign war, which operators fear will break out in the early spring. But the countiT is prosperous. All our factories are employed, and the demand for goods is better than the supply. Hence investors have a good chance to load up; for stocks, soma time this year, will see vei-y high quotations. The stocks Europe is selling, just now, look the most tempting. The Eries are a purchase for a long pull. The Coalers are also low, in view of the immense consumption of coal and the certainty that a better feeling will obtain after the labor troubles are over. The Richmond Terminal people will make no more deals at present; but in time that system will take in Norfolk & Western, Georgia Central, and many other connecting roads. A dividend of 4 per cent, will soon be declared on E. T. first preferred. The Grangers will be good stocks to leave alone. They are building into each other's territory, and rate wars are inevitable. The securities of all the roads north of the Ohio River are a purchase for a long pull. The next buU movement will be led by the Vanderbilts. The imports and exports of gold last year about balanced. We gained $425,865; that is, we exported early in the year $41,281,276 and imported in the last months $41,707,141. But in the meantime the production of gold from our mines was nearly $30,000,000; so that we have added largely to our store of gold, some of which was used up of course in the arts. Since the commencement of the coinage of the silver dollar in 1878 not a year has passed but that we have added to our store of gold, both from importations and the receipts from our mines. •-------• Legislative Committee of the Real Estate Exchange. Owing to the absence of Chairman Charles Buek of the Legislative Committee of the Exchange, Col. VY. C. Church was chosen as chairman pro tern, at last Tuesday's meeting of the committee. The other members of the committee present were: W. R. Brown, W. C. Church, C. Codding- ton, D. G. Croly, William Cruikshank, Richai-d Deeves, W. H. Folsom, F. R. Houghton, G. S. Lespinasse, J. E. Leviness, William Mulry, T. F. Murtha. After the reading and approval of the minutes of the last meeting the proposed bill for amending the system of land transfer registration was considered, and after some discussion them after was referred to the Com¬ mittee on Drafting aud Amending Laws. . Jj} belialf of t]p Committee on Sea Coast DefentJes, Mr, Croly reported