Columbia University Libraries Digital Collections: The Real Estate Record

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February S8,189t Record and Giu< 311 in a Republican country, tha writer, presutning that he inferred tbe applica¬ tion of fche same principle to national ownership, said: " \Vhat about the Post-ofUce? I^ that not owned and run by the government ?" " That is altogether a different thing," was fche reply. " Why so," pursued the writer. " Gould not a privafce corporation run tbe Post-office and perform the same functions as satisfactorily ;" To this fche CompfcroUer reiterated his previous answer. Ifte attention of readers is directed to the " Wants and Offers " at the end of the Real Estate Department. Eapid Transit Schemes. Another public hearing was held by the Board of Rapid Transit Railroad Commissioners, at wbich several schemes wifch which the public has been made familiar were explained and advocated by their resuective promo¬ ters. Es-Begister of tbe Treasury, Lucius E, Chittenden. President of the People's Rapid Transit Company, presented the formal petition of that company for a franchise to consfcrucfc ifcs four-story viaduct system through tbe centre of tbe blocks contiguous to Broadway. This scheme has been amplified since ifcs last public appearance by lhe addition of an underground railroad aud conduit system—presumably so that it should have fcbe advanfcage of "' all fche modern imp rove ments." Mr, Chittenden considers it the only practical solution of fche rapid fcransit problem, and gave some interesting defcails of cost, not heretofore pub¬ lished, which be said were the results of painstaking invesfcigafciou by a competent corps of engineers. According fco fchese the tolal cost of the real estate for the right of way, consisting of a strip 7.5 feet wide, from tbe Battery to Spuyten Duyvil, and thence by a surface road extonsion to Tarrytown, would bo $51,971,000; tbe cost of fire-proof construction of the viaduct structure, four stories high on the average, to be of solid arches of masonry, t34,S7S,951; the cosfc of the viaduct railroad, stations and equipment, tlb,401,95'i; and the interest accumulations during const rucfcion, S.'i,000,100. would make a total of Sl(.9.7nl,993 as fcbe cost of tbe right of way, reconstruction of buildings and completed railroad ready for operation. From tbis he Ilgnred oufc au income of 89,476,.'j00 net per annum. Out¬ side of the Greathead system this scheme has been the most elaborately presented.of all tbe schemos suggested to tbe commission. Col. Jobn J. McCook, of counsel for the Chittenden Company, who was one of tbe ad¬ visers of fcbe original elevated railroad company, said that in the ligbfc of kis fifteen years' experience witb rapid transit matter,*, tbis viaduct scheme was financially and mechanically practicable. The only question to be determined was whether productive real estate in New York CJity, at its present prices, would pay a reasonable income—4 or ft per cent, If the commission was satisfied of tbis fact, the viaduct system would undoubt¬ edly pay. Lawson N. Fuller and ofchers spoke for fcbe extension of tbe present elevated railroad system, Tbe commission will bold another public meet¬ ing in two weeks. layers' Unions, The signing of the agreement was postponed till the settle¬ ment of tbe difficully with Union No, 7. Last nighfc a committoe from Union No. 7 met fche members of the Mason Builders' Association at fche Building Trades' Club to discuss tbe situation, Tbe meeting was still iu progress when The Record and Guide went to press, but ifc is undersfcood that an efforfc was made to get Union No. 7 to arbitrate with a committee from tbe International Union with a view of paying an assessment. Union No. 7 appears willing to pay some assess¬ ment, but evidently wants to have the amount largely reduced below tbat levied. The Committees of Arbitration of the Mason Builders' Associatiou and the Bricklayers' Unions will meet again afc the Buildirg Trades' Cluh this evening to discuss the signing of the agreemenfc between the two organiza¬ tions for another year from Mayl, 1891. Itis hoped thafc Union No. 7 will by thafc time have arranged its difficulty with the International, fcbus per- mitling of fcbe agreement being signed and also hedging off the possible strike next week. The Disagreement Among the Bricklayers. The International Uniou of Bricklayers is an organization wbicb takes in tbe bricklayers' unions fchroughoufc tbe Unifced States and Canada. The uniou assesses its membership from time fco time to cover tbe cost of stiikes in different parts of fcbe fcwo counfcries, and recently made a levy upon tbe bricklayers' unions of tbis city for Ibat purpose. Union No. 7, whose assessmenfc is said t