Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: v. 42, no. 1065: August 11, 1888

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Lugiis Record and Guide. De/07ED to ReA,L EsIME . SuiLDlf/o ^ClfITEtrrUI^E .HoUSEHoID DEG0F!AT10fJ. Bilsit^Ess dv Themes of GeHeraI I|JT€i\esi Slfc FRIOE, PER YEAR IIV ADVANCE, SIX DOLLARS. Published every Saturday. TELEPHONE, - - . JOHN 370. Communications should be addressed to C. W. SWEET, 191 Broadway. J. T. LINDSEY, Business Manager. Vol. XLII. AUGUST 11, 1888. No. 1,065 Now Ready—The Index to the Conveyances and Pi'ojected Buildings published in The Record and Guide during the first six months of the current year. The Index is printed on extra heavy paper, and, as usual, includes New York and Kings Counties, and is the most exhaustive ever x^ublished. The labor and expense connected with the work has becoyne so formidable that a charge of fifty cents is made for this issue, as announced in these columns on Januai-y 21st last. Subscribers requiring copies should .send in their orders at once. —.-----^--------- If the stock market is the business jmlse of the nation, there can be no question but -what the outlook is very promising. Stocks have been literally booming since tlie Fourth of July; nor has there as yet beeu any appreciable set-back. Perhaps " booming " ia hardly tbe word to use, as the movement has beeu to all appearances a -wholesome one, and entirely justified by tlie state of the crops, the rising prices for om- agricultural products, the ease of money, and liberal foreign buying. Wall street does not seem to be subject to clique manipulation. Indeed, the so-called leaders have had very little to do with the advance in quotations. Trade reports are gen¬ erally good, aud -we look for buoyant markets during the coming fall. The state of things in Wall street and in the general business of the country warrant the expectation that there will be a re-rival of interest in real estate during the season 'before us. The Liberty Street Exchange promises to witness a good deal of active trading between September 15th and the holidays, Mr. Blaine's entrance into the canvass for the Presidency -will be the signal for tho revival of old political animosities. For the peace of the country it is almost a pity he did not stay in Europe until the election was over. Had he done so the Presidential can¬ vass of 1888 would have been the tamest for half a century. Indeed, as WaU sti-eet shows, the business of the nation promised to be very little affected by this Presidential contest, if it continued as unex¬ citing as it was previous to Mr. Blaine's arrival. After Mr. Blaine makes his speech iu Maine on the 15th of August he would do well to retire permanently from the canvass. Of course we take no stock in the Mugwump talk that Benjamin Harrison's election would give us an administration dominated by James G. Blaine. We have had some rather commonplace Presidents, in whose Cabinets were the ablest men then in the counti-y. But neither Polk, Pearce, Tyler, Fillmore, Hayes, or Cleveland were any the less Chief Executives during their term of ofBce. If Harrison is elected he, too, will be President, and not the "man from Maine." So Abram S. Hewitt is willing to run again for Mayor. His can¬ vass will be watched with curious interest. His friends must expect that he will be bitterly antagonized, for his impulsiveness and eccentric disposition has led him to oppose influential classes of voters. The labor people in pohtics do not like him; the Irish will fight shy of him, aud he certainly cannot expect the favor of the ordmary machine politicians. If, however, his ballots are avail, able and are counted lie will be found to have a large following. Everyone concedes Mayor Hewitt's ability and honesty, and in all classes will he found admii-ers of his thorough-going independence of character. We oiu-selvea object to several things wliich he has done. We think he ought to have favored rather than opposed the widening of Elm sti-eet; we think he ought to have obeyed the law in putting the telegraph and telephone wires in the subway; then, we could never understand his opposition to the utilization of our elevated road system pending the construction of a more permanent system of rapid transit. But, after all is said, we should not have many tears to shed over the re-electioa of Abram S. Hewitt. There are many important appointments to be made during the next two years and Mr. Hewitt could be depended upon to select c impetent and honest heads of departments without reference to the political cliques which wish to conti-ol the patronage. troubles in the Democratic organizations of this city. For reasons which it would be tedious to set forth, Tammany Hall, under the leadership of Dick Croker, has been gaining sti-ength rapidly during the last year. The County Democracy has been growing numerically weaker. Were Tammany to have the Mayor next term its local patronage would be greatly increased, and this would give it no small advantage over the rival organization. But the "Counties" are controlled by a very long-headed "boss," Police- Justice Mam'ice Power, and it is he who proposes to make Mr. Hewitt the nominee of the County Democracy, not because he expects any favors for his party, but he hopes thereby to beat the Tammany candidate and give his organization the eclat of victory. It is not improbable that the Republican machine leaders-—as cor¬ rupt a gang as ever disgraced a political party—may make a trade with Tammany, bub they cannot control all the Republican voteig, tens of thousands of whom would vote for Mr. Hewitt if he was renominated. It now seems pretty certain that Hill will be the Democratic can¬ didate for Governor. He will be backed strongly by the liquor interest, and he will have openly or secretly the good wishes of all the machine poUticians because of his veto of the Election Reform bill. He will be a hard candidate to beat, for he is not only a man of ability, but his vote will be better counted than that of Warner Miller, who is pretty certain to be his opponent. Altogether our State and city contests promise to be very lively. A great many Republicans will vote for Hewitt for Mayor, while thousands of Mugwumps committed to Cleveland will vote against Hill. It seems there ia to be another BerUn conference and a re-vised Berlin treaty. It will be remembered that after Russia defeated Turkey in the last war, that she was deprived of the fruits of her victory by Germany. England and Austria profited more by the defeat of the Turks than did Russia. Ever since then the relations between Russia and Germany have been strained.. It ia now rumored that in order to isolate France from Europe, Germany baa practically agreed to let Russia have her own way iu Bulgaria. If the Congress is held, it will try to anticipate any possible cause of quarrel for several years to come. This wiU require other adjust¬ ments. Italy has a foothold in the Red Sea, in the possession of Massowah, and she may be given Ti'ipoli, Austria].will possibly get something more in Southeastern Europe, and there is a likelihood that Great Britain -will have the full sovereignty of Cyprus, for which she now pays tribute to the Porte, The Turk will, of courae, be the chief sufferer from any readjustment of the ti-eaty of Berlin. The important point of us Americans is that all this foreshadows several years of peace in Em-ope, which means the steady and large absorption of American securities by foreign investors. If Mayor Hewitt is renominated it wiU be due to certain internal Poor France! Comparing that country as it was when Napo¬ leon III. was in his glory with what it is to-day, what a falling off it has shownl Fi-ance was never so prosperous as when Paris had been reconstructed by Baron Haussman. All the world was forced to buy the art productions, the wines, and many of the manufactures of that industrious and fruitful land. The fall of the Empu-e marked the begimiing of a more unpropitious era for the French people. Its industries have been depressed by the competi¬ tion of Germany, and its taxation largely increased because of the war indemnity. The cruelest blow to the French people has, how¬ ever, been the ravages of the phyloxera. Its enormous production of 360,000,000 gallons of wine has been cut down nearly one-half. And now the news comes that the crops of France this year will be far below the average. In the meantime the military expenses are three times what they were during the reign of Napoleon III. France has been so unhappy and unprosperous since the establish¬ ment of a Republic that its people may again resort to an autocratic or kingly rule, hoping thereby to improve their material condition. Bismarck is credited with haring a desu-e to reduce the arma¬ ments of Europe. It is alleged that the risits of the Emperor William to the monarchs of neighboring nations were to sound the several Courts on the subject of cutting down military expenses. After the necessary pledges have been made, so goes tbe story, France will be first asked to reduce its enormous army. There is a good deal of doubt about thia story; but if it were true, and Bismarck could carry it out, it would do him more credit than any act of his eventful Hfe. We still hold to the opinion, however, that no ])ermanent reduction of the armies of Europe can be expected until the map of the Continent is reconstructed. Germany desires access to the ocean to develop her manufacturing and mercantile industries. She will never rest satisfied until she has Holland and the great port of Antwei-p as an integral part of her possessions. One of the best abused men in the country is Senator Blair, of New Hampshire; yet we believe when the history of our times comes to be written, he wUl be credited with more suggestiveness and attempts at wise reformatory legislation than any Congressman