Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: v. 42, no. 1068: September 1, 1888

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September 1, 1888 Record and Guide. 1061 ESTABLISHED ^ N^ARfH a\--^^ 1868. De/oTED to KE^L EsTME . SuiLDIf/c Ap,CrflTECTJ[^E .^OUSEtlOLD DEGORATlOri. BUsitJESS mId Themes of GEfjEi^l- I;^t£i\est PRHE, PER YE.\R IN ADVANCE, SIX DOLLARS. Published every Saturday. TELEPHONE, - - . JOHN 370. fionununications should be addi'essed to C. W. SWEET, 191 Broadway. J. T. LINDSEY, Btisiness Manager. Vol. XLII. SEPTEMBER 1, 1888. No. 1,068 Now Ready—The Index to the Conveyances and Projected Buildings published in The Record and G-tjide 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 pxdilished. The labor and expense connected with the work has become so formidable that a charge of Iifty cents is made for this issue, as announced in these columns on January 21si last. Subscribers requiring copies should send in their orders at once. The business of the country seems to be in good whape. AU the reports go to show tliat there will be a large demainl for goods this coming fall. That manufacturing is prosperous is shown by the phenomenal consumption of coal, both hard and soft. Wliile there has been no advance in the price of iron and steel, the protiuction and consumption of all the metals is large and growing. It is reported that the demand for agricultural implements was never so large. Securities in Wall street continue strong, to the surprise of a. great many of the leaders who have been lookin.g in vain for a serious set-back. With a large coru cro]> every one concedes that the counti'y will enter on a new period of prosperity. Europe will want all our surplus cereals, and at the highest prices recorded for four years. A prosperous farming community means a new stim¬ ulus to manufacturing. Altogether the outlook is very reassuring. Wall sti-eet is full of gossip about the corn crop. One would sup¬ pose that every "bull" aud "bear" and business man were farmers, so learnedly do they discuss the crops—^especially the corn crop. Venturesome operators are purchasing securities likely to be bene¬ fited by a large harvest of this cereal, but conservative people pre¬ fer to wait. As a matter of fact the corn crop is late ; its plautuig was delayed because of wet weatlier ; the summer has been cool, but there has been no lack of rain except in a few isolated sec¬ tions. The promise of the crop is simply enormous, but it will take all of September without a frost to realize the present estimates, which run as higii as two billion five hundred million bushels. The largest previous crop we have had was in 1856^about one billion nine hundred million. On the doctrine of averages September ought to be a hot, dry mouth, but a black frost almost any time during that thirty days would see almost a panic in stocks in Wall street. Should corn turn out as well as expected, every business interest in the country will profit by it; stocks will boom, railroad building will be resumed aud real estate here in New York will be very greatly benefited. The Republican State ticket and platform are both very good. Warner Miller made a very good representative of the State of New York in the United States Senate, and there was no justifica¬ tion for electing Fi-auk Hiscock in his place. He was an abler and fairer-minded man than Ms successor, but then the latter was a lawyer and the man he supplanted was a manufactm-er, which probably accounts for the change. If Secretary Whitney should be selected as the Democratic standard bearer there will not be much choice between the two candidates as far as personal character and ability go. Real estate people will be gratified by the nomination of Colonel Cruger for Lieutenant-Governor. He comes of one of the historic Dutch families of New York, and he was a member of the first Board of Directors of the Real Estate Exchange. His nomination was a victory over the "boys," for in the County Republican Committee he antagonized the corrupt Republican machine-gang led by O'Brien. This fact ought to gain liim votes among the independent citizens of all parties. Notwithstanding the carpings of the Mugwumps the Republican State platform is generally a good one. It contains some dema- goguery about " trusts " and prison labor, but it favors the taxa- !tion of the saloons and the Austrahan voting reform. These two matters are -vital and quite ii-respective of party. It is to be liojicd that a legislature will be (chosen which will give us election ret'oi'Hi and will put some of the burdens of taxation upon the liquor sellers. It is too bad that real estate should be taxed so heavily, and that the saloon owners, whose business helps to increase the public burdens, should contribute nothing to the city treasury. The bonds have been placed by a Scottish bauk to complete the tunnel between this city and the Jersey shore. It will be a great thing for th-'s island when the freight and jjassonger cars can come direct to the depots on the east bank of the Hudson. Tbis will create a heavy demand for real estate in sections which now rule cheap in the market. Everything seems to conspire to make land on Manhattan Island tlie most valuable for commei-cial purposes of any on earth. Of course there are isolated spots in the old city of London which would be worth more than any real estate in New York: but it seems as if one were justified iu claiming that in the year 1900 tbe average value of land on this islaud will be higher than any corresponding area in the capitals of the Old World. The tunnels and bridges in contemplation will have a gi'eat deal to do with this enhancement of the values of our real estate. The Herald is very anxious that a certain gentleman, of a German name, who is a friend of Mr. Bennett's, should be made Mayor of New York. Hence it suggests Mr. Abrara Hewitt for Governor, so as to get him out of the way. But Mr. Hewitt would prefer to be Mayor of New York a second term, and a great many of our citi¬ zens want him re-elected in consequence of the many unp^irtant appointments to be made during the coming two years. The .bjec- tion to any other candidate is that he would be forced to give pledges parceling out the offices to the County Democracy or Tam¬ many HaU politicians. Mayor Hewitt, if chosen to succeed himself, would be entirely uncommitted. By all odds Mr. Hewitt has been the best Mayor New York has ever had. He has made enemies— unnecessary ones—but we think that tlu-ee-fourths of our voters would prefer him to any one else who could be mentioned. Many street pavements are now being torn up by steam and gas companies ; travel aud traffic on lower Broadway has been impeded dui'ing the past week by workmen tearing up the streets. Why should not this work be confined to the night time 'i An electric light is quite as good as daylight for this out-of-door work. Mayor Hewitt should confer with Commissioner Newton and have this matter attended to. Third avenue has been torn up to a gi-eat extent by a gas company ; numerous cross streets are in the same condition. Tliis is causiug malaria and increasing the sick list in the city. The time must surely come when in all the great avenues, running uorth and south, there wiU be a sewer system hke that in Paris, which will include provision for gas, water and other pipes. Tliis would put a stop, for all time, to the tearing up of our pavements. One of the most disgusting signs of the times is the appeals to the workingmen in the daily papers to vote for this or that candidate or party. When anything vital affects the laboring classes, the newspapers generally antagonize their interests, rarely doing them simple justice. Yet here is the World, Herald aud Times tiying to create a prejudice against Mr. Ben Harrison by alleging that he said a doUar a day was enough pay for a laborer. Then there are protectionist papers appealing for the workingman's vote on the ground that free trade would reduce wages. These appeals are pure demagoguery. It would be a bad sign if the workingmen were to respond to calls on their cupidity. We have always be¬ lieved in ti'eating the working class hberally, but questions as to more or less wages should be left out of politics. In " Sir Oracle's" contribution to our columns this week he voices the old objection to our quadrennial Presidential contests. He tliinks the country would be better off if our chief magistrates were elected for seven years, for then we would save some of the inter¬ ference with business which, it is supposed, characterizes years in wliich there is a Presidential contest. StiU, is there not another side to this question ? Do not the American people generaUy pay too much attention to business ? Is it not a wholesome distraction when they are forced to discuss public measures a.nd the merits of candidates for high office V Indeed, oue misfortune of our politics is that it deals only with home affairs. Our public discussions would be vastly more elevating aud educative -H'ere we to take our part in the councils of great nations. We ought to be debating the larger ciuestions of international politics. However, this will come in time. Commercially we have our relations with about all parts of the earth, save alone Africa, and the time cannot be far distant when we will have vital political interests on other continents than our own. But, m tbe meantime, let us continue our four yeai- Presidential contests, and try and be interested in something besides making monev. According to intimations from several quarters it loqks as though David Bennett Hill has been induced to withdrav^' frqm the caitvass for Governor of this State, He cpnld certainly f;oTn|pand i\\f, npm: