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836 The Record and Guide. June 18, 1887 we can be afc least even with it in point of cost, we shall compete at a disad¬ vantage. Hence the question whether our railroads should be suffered to make special rates on Asiatic produce in transit for New York or Liverpool really involves the much simpler question whefcher or not it is fco our advan¬ tage fco attract Asiatic trade this way. If it is not, why, then, of course Senator Reagan is right in insisting that the Southern Pacific's tariff on tea from Shanghai to New York shall be the same proportionately as its tariff on a chest of tea from San Francisco to Martinez. But if it Is desirable thafc the commerce of fche world should flow through this country, nofc onlv by reason of the profifcs to accrue from handling goods and of the employ¬ ment thereby offered to labor, but Ukewise because San Francisco and New York, which are now way stations in the traffic between Shanghai and Liverpool, will presently become terminal sfcations and disfcributing centres for the produce of Asia on the one side and Europe on the other, in that case attempts fco make casfc-iron rules fco govern fche carriers who are fighting the American hafcfcie musfc be considered ill-judged.—San Fran¬ cisco Call. The Railroad Problem, We look to see a combination, within the next ten years, which will include all the East and West railroads in the United States in one company, and a combined petition to Congress asking that they may all be placed under one central control. The argument for such a combi¬ nation, from a railroad standpoint are so manifesfc fchafc it will not be strange if half a dozen master railroad spirits unite and make the effort at any time. Indeed, C. P. Huntington has already hinted that such an arrangement should be made. For example, running out of Chicago fco the wesfc, norfchwesfc and soufchwesfc there are four great lines of road, namely: The C, B. & Q., the Chicago & Norfchwesfcern, fche Chicago, Milwaukee & Sfc. Paul and the Chicago & Rock Island. These roads now have a mileage of about 17,000. They all have separate offices; all are paralleling each other's roads; they frequently become involved in quarrels, and run their roads at ruinous cut-rates; they each have fco keep special agenfcs in all the greafc cifcies easfc and wesfc, and fche expense of adverfcising their fines in one form and another is something enormous. Suppose fchey were "consolidated into one company. One sefc of agents and employees would do all their work in Chicago; one round house and machine Jshop would suffice for their work; tbey would be able to take up probably 2,000 miles of parallel track; they would need no agents abroad, for anyone going into their territory would have to patronize some portion of fcheir lines; probably fchey could save ten per cent, of their gross expenses annually. If they were combined and with them some eighfc more lines easfc and wesfc, fche saving in acfcual cosfc to the owners would amount to a sum which would enable them to reduce the rate of freight and passengers probably twenfcy per cent. This is what we suspect they will decide upon doing one of these days. It will be either this, or there will be a proposition for the government to take the roads and consolidate them into one single sysfcem—fco issue bonds for aU their indebtedness and cost and to conduct the roads. Bonds payable yearly for a hundred years would enable the government to place fares and freights at figures which would just pay expenses, interest and 1 per cent, of the bonds for a sinking fund. This would make ifc possible to reduce fares and rates 33^ per cent, the first year, and more (and more in each succeeding year untU the cosfc would be reduced to a minimum. If ever the workingmen's party assumes a con¬ trolling national importance this will be one of its demands. Meanwhile the raih-oad problem has become the most momentous oneT in the Republic. As it is, men in the West predict that George Gould wil), if he fciies as his fafcher has, be worfch $1,000,000,000. Ifc is expecfced he will acquire fchat sum by railroad earnings and speculations. To do ifc he will not have to work as hard, or be as shrewd as his father has; provided, of course, the laws shall not be changed. It is dear enough that no one man ought to draw from the earnings of others a sum like that. How can the evil be met aud arrested is the problem which now confronts the Americau people. Will it be by permitting the roads to consolidate, then prevent the building of parallel roads aud limit the charges to actual expenses and a shght interesfc ou the z-eal cost of the roads, or will it come through the government assuming the ownership and control of the roads? It is a clear case that as matters are now progressing it will not be many years until the i-ailroads will be a power which will be a menace to tbe government itself. They are drawing to their support the brightest minds in the laud. They are entrenching themselves in every way. They have unlimited means, for the whole public steadily contributes to their coffers. In a lifctle while it will be a question whether the nation shall own them, or whether they will own the nation.—Salt Lake City Tribune. High License at Its Best, Missouri has been fortunate in placing upon its statute books the most comprehensive high Ucense law in force in any State in the Union. The features of this law have been offceu commenfced upon, bufc even yefc all of them are nofc known generaUy, or righfcly infcerpreted. The success of the law in reducing the number of saloons in the State to 3,934, and in bringing in a large revenue to the State and the county treasuries is esoecially encouraging to those States which have adopted high license measures the present year. The results achieved and the pecuUar features of the law become a matter of special moment now that this Stafce aud cifcy are so soon to pufc in force a new restrictive measure. The Missouri statue makes no distinction between a license to sell spirits and one to sell wine or beer. The price for a State license can not be less than $550 nor more than $1,200, the county courts being aUowed to fix the sum within these limits. But in addition to the State Ucense municipalities are allowed to impose a second license. Statistics show that many of the towns improve this privilege by placing the price for a Ucense at almosfc prohibifcive figures. Thus, in Boon'sdUe ifc cosfcs $600 for a town license, and, as the fee for a Sfcafce license in the counfcy is $800, fche privilege of keeping a saloon in Boonville cosfcs $1,400. Town Ucenses in ofcher places are higher fchan fchis even. Canton and CarroUton charge $1,000, Columbia $3,0U0, Fulton $1,5 JO and Mexico $1,603 in addition to the Stafce Ucense. The enfcire revenue derivsd from fchese fees for Sfcafce Ucenses and paid into fche Sfcafce and counfcy treasuries amounted last year to $1,533,594, but the returns for town Ucenses are not given. As comprehensive, however, as the law is, ifc is recognized that improvements can sfciU be made in ifc. One suggesfcion is to allow in all cities of over 20,000 people a division of the city into license districts, with one saloon to each district, and the privilege for keeping this saloon to be sold to the highest bidder at aucfcion. This would cor¬ rect the manifesfc injustice which now compels a saloon in the thinly settled parts of a city to pay the same fee exacted from a saloou in the most populous districts. In view of the facfc that the Federal government may possibly stop taxing whisky and beer before many years, ifc has been proposed fchafc fche Missouri Legislature begin to consider measures for turning this tax into the State Treasury. As it would pay aU the expenses of the government and extinguish the-Sfcafce debfc besides in a few years, ifc may be taken for granted that the tax wUl not be aUowed to lapse if the general government reUnquishes ifc. Missouri's High License law and the suggestions made towards its improvement deserve to be carefully studied by those States which are soon to take a new sfcep towards restricting the Uquor traffic.—Philadelphia Press. The recent discoveries of natural gas in large quantities, the improved methods of utilizing crude pefcroleum, and the introduction of elecfcrie motors cannot fall to have a decided effect upon the distribution of manu¬ facfcuring indusfcries. The large manufactories of fche country for many years centered naturally about the regions where coal was mined or those places to which it could be carried by water transportation. But coal as an essential factor in producing motive power has lost its place, and natural gas is rapidly supplanting it. When found in large quantities the gas is much cheaper than coal, and a great saving is made in storage room. --------•-------- Real Estate Department. Business has beeu rather quiet during the past week, and sales have not been numerous. H avy negotiations have, however, been going on in the brokers' offices and some important transactions have been closed, as will be seen by the gossip column. In the Auction Room business has not been very active, but at the two important partition sales the bidding was brisk and fche prices obfcained were satisfacfcory. The markefc, on fche whole, is taking on more and more of the aspect of summer dullness, and this will characterize it from this time on. Both the conveyances and the moi'tgages of the week show an extraor¬ dinary increase in number and fche amount involved over those of the cor¬ responding week in 1886, and in the annexed districfc the conveyances involve more fchan four-and-a-half times as large a total. In the number of projected buildings, as compared with those of the corresponding week last year, there is a falling off. There was nofc much done at the Exchange on Monday. Two lots on llth avenue, north of 49th street, and one lot on 49th sfcreefc, wesfc of llfch avenue, were sold. The former broughfc $4,475 each and the latter $4,000. The frame house and seven acres of land at Crugers, N. Y., known as "Laurel Hill," went to P. J. Southwell at $4,950, and four lots on Gerard avenue, 23d Ward, brought from $465 to $475 each. Tuesday was a busy day at the Salesroom, the attendance being large and the sales numerous. The most imporfcant were the Lee estafce sale and thirty-three lots in the 24th Ward. The former was eagerly bid for and $49,275 were reaUzed for five parcels on Grand, Water, HamUton and East 10th streets and Centre Market place. A total of $26,065 was obtained for the thirfcy-fchree Fordham lots, which were situated on the Kingsbridge road, Marion avenue and Brookline sfcreet. Eighteen lots on 9th avenue, Emerson and Dyckman sfcreefcs (12th Ward) were sold afc from $355 fco $520 each, and the four-story brown stone double flafc Nos. 313 and 315 Easfc 56th sfcreei, with plot 50x146.10, went for $34,000. On Wednesday there was no city realty offered afc aucfcion. The residence and grounds of fche lafce George P. Nesbifcfc, at Strawberry Hill, Stamford, Conn., were sold for $14,950 to John CampbeU. Auctioneer R. V. Harnett stated that the properfcy cosfc over $80,000. The Exchange was well afctended on Thursday and fche sales were-quite numerous. The Bowne estate sale, by order of Court, in partition, was the most important held and $336,450 were realized for the entire property. For the premises on the northwest corner of Franklin and Varick streets, 103.9x87.7, with old buildings, there was quite a contest. The firsfc bid made was $65,000, and small advances were offered unfcil $105,500 was reached, afc which figure ifc was sold to EU Sink, ifc is reporfced, for Minofc, Hooper & Co., as a sifce for a handsome sfcorage warehouse. The two, three and four-story buildings Nos. 524 and 526 Pearl streefc, 37.11x100.3x 6i.6xll0.4, which are leased to May 1, 1890, at $1,000 per annum and taxes, were sold for $26,100 to John Hooper of fche Colwell Lead Company, who now occupy fche premises. Tbe four-story brick store and dwelUng No. 678 Sth avenue, southeast corner of 43d sfcreefc, wifch lofc 20.4x80, was sold for 137,600. A similar building No. 674 Sfch avenu • wenfc for $24,500, and a lofc adjoining on 43d sfcreet, 20x80, brought $9,700. Three new threestory dwelUngs on West 82d street were sold under foreclosure at from $17,700 to $18,100, which is a few thousand dollars over fche amount due on fche firsfc mortgages. Only one sale fcook place afc the Exchange yesterday. James L.Wells wiU seU on Tuesday, June 21, to close the estate of George Banks and E. T. Prend, thirfcy-fcwo choice lofcs afc Fordham, on Bainbridge and Briggs avenues, near the Harlem RaUroad station, and stores, schools, churches and city conveniences, affording an unusual opportunifcy for invesfcmenfc in an atfcracfcive, improving and very promising neighborhood. The fcerms will be easy and fche fcifcle will be guaranfceed by poUcy fee of cosfc to the purchaser. James L. WeUs wiU seU on Wednesday, June 23d, the handsome residence and twenty-seven choice lots belonging to the estate of Dr. Henry L. Horton, in the besfc parfc of the 23d Ward, on Franklin, Boston, Jackson, Forest and Union avenues, in a rapidly improving neighborhood and ou the line of the 3d and Boston avenue horse-cars and near the Morrisania station of the Harlem road and the proposed station of the 3d avenue elevated raUroad. Richard V. Harnetfc will seU on Thursday, June SSd, the four-story, base¬ menfc and cellar brick dwelling and lot No. 137 Easfc 15fch sfcreet, convenient to the elevated station afc 3d avenue and Wth street. James L. Wells wUl sell on Tuesday, June 28, by order of the Superior Court, in partifcion, the three-story and basemenfc brown sfcone residences Nos. 165, 169, 187 and 196 Alexander avenue, befcween 134fch and 137fch sfcreefcs, and Nos. 633 and 635 Easfc 134th street, near Alexander avenue, each 16.8x40, in an exceUent neighborhood^and close to horse cars and the elevated sfcafcion. James L. Wells wiU seU at 2 p. M. on Wednesday, June 39, by order of fche Supreme Courfc and others, at Ravenswood postoffice, near the prop¬ erfcy, eighfcy-seven lots at Ravenswood, in the 3d Ward of Long Island City, near the East River, opposite 64fch sfcreefc, convenient to aU ferries and in a manufacfcuring cenfcre. CONVBYANCKS. 1886. 1867. June 11 to 17 ino. June 10 to 16 inc. Number......................................... 272 34.5 Amount involved............................. $4,633,369 :$7,405,682 Numbernominal....... ...................... 38 7t Number 83dand 84th Wards.................. 47 ^„„J^ Amount involved............................ $89,626 $396,90J NuiabOT nominal............................... 4 8