Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: v. 47, no. 1213: June 13, 1891

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fflTJune IS, 1891 Record and Guide. 939 De/oth) to He^L Eswe BuildiKc -A^cKitel-tjre .KouseHold DfGOf^ftTlot). BUSltJESS AIJd ThEMEE' of GENEIVi i;VTEI\£S-[ PRICE, PER YEAR IN ADVANCE, SIX DOLLARS. Published every Saturday. | TELEPOOME, - COBTLANDT 137P Conununications should be addi-essed to . ..-■C. W. SWEET, 14 & 16 Vesey St. J. 7. LINDSEY, Business Manager. Vol. XLYII JUNE 13, 1891. No. 1,31S NOTICE OF REMOVAL. The publication offices of The Eecord and Gtjide have been removed to Nos. 14 a7id 16 Vesey street, over Tlie Mechanics' and Traders' Exchange, a few feet west of Broadway. TN announcing the intention of The Record and Guide to insti¬ tute a permanent exhibit of building materials, -we pointed out tlie great aud obvious assistance which such an exhibit would give to architects. By the concentration at one pJace of all tbe various materials which go to construct, equip and decorate a modern building, the architect will be enabled by a ccnparatively small expenditure of time to beep the run of the best and the newest which the market has to offer. It is the factthattbe market is always offering something new aod something better that more than any other single cause gives a permanent building exhibit its reason for existence. A larger variety of materials and a more ingenious selection of contrivances enters into a modern house than into any other article of present manufacture—unless it be the most improved ocean steamships. It is eminently desirable that an architect should be able to keep abreast of these improve¬ ments, and, in order that he may do this, there should be some central place in whicli these materials and contrivances are col¬ lected, so that he cau see tbem and test theii- value for his purposes. What we wish, then, is to dismember and show in their isolation and perfection all the elements that go to make up one of the best buildings of the present day— just as an international exhibition dismembers tbe elements of the industrial and artistic life of the world, and sbows them in their aggregation. Now these elements are constantly changing. The firms in the ti-ade are constantly making new adaptations, putting on the market more satisfactory mateiials, and more ingenious devices. This constant progress in the building industries needs, as it were, a register, and it particularly needs a register in a city like New York, which, whatever its pre-eminence over other cities in other respects, stands far and away superior in the amount of money its citizens expend in new buildings, and in the standard of conatruction, equipment and decoration which they exact. This register, furthermore, should be living and visible, A newspaper can do something towards reflecting this progress ; but words are one thing and examples are another, and we ask the assistance of the building material dealers of New York aud elsewhere in makiug our warerooui a complete collection of the best articles tbat enter iuto our best buildings. IN a market of great strength and inexplicable steadiness specialties such as sugar and Chicago gas, on Thursday, developed marked weakness; but on Friday a buying movement set in which per¬ mitted no exceptions, and prices closed fli-m and higher. Present indications certainly point towards still better things, for the ob¬ stinacy of quotations in refusing to yield to so many bad influences for weeks past could hardly bave any other meaning tbau that of being the usual preliminary to an advance. Whenever we havea good winter wheat crop, and a total yield of 550,000,000 bushels, arise in the stock market is due as soon as it is assured—that is, about tbis time of the year; and with the cessation of gold shipments, the increased radvvay earnings consequent on the good crop ought to be so far discounted as to cause an advance from 6 to 10 per cent. Such a movement is all the more likely because usually our large wheat crops are sold at 70 cents or thereabouts, whwea duiing the present year the shortage abroad will he almost certain to warrant much higher prices. It is scarcely probable thatthe market will continue active and strong throughout the summer, for the condition of general trade is not good. After a while it is more likely to liecome dull and unsteady, hesitating until the fall comes and the amount of the coi-n crop is ascertained. But there is a growing disposition to look more favorably on the present situation, and it appears to Lave good basis in probabilities. THE Bank of England, acting in connection with a half-dozen or so of the leading joint stock banks, has been putting for¬ ward its best efforts to maintain high rates for money, but with only a small degree of success. Nevertheless, the Bank is still increasing its gold reserve, which has reached a point that in ordin¬ ary times would presage an easy money market. But the Bank will be under a necessity of meeting heavy demands for the metal from tbe Russian government, as well as of standing a drain of some magnitude from this country in pay¬ ment for the wheat that will he needed. Consequently the prospects for tight money are about as good iu London as they are in New York, and tbe same indisposition to buy securities exists in both centres. .An illustration of this may be found in the prac¬ tical failure of the new Queensland loan, whicli follows a failm-e of the Victorian government to float a like issue. These bonds were not under-written as is usual, because the under¬ writing companies ai-e so heavily loaded up at present that they do not dare to assume new responsibilities, but were offered directly to the public, and the public would have but little of them. Prices in Paris have been somewhat stronger, Portuguese securities being among those which have shown the mosfc strength, for dividends on the railroad aecurities which were suspeuded in January have been paid. The bears continue to hold sway in Berlin, and tbey are abusing their power just asthe bulls formerly abused their opportunities. Because the public are liable to be frightened easily, they have taken to the tactics of keeping the market in a constant state of alarm. Bank shares bave suffered a severe decline, but this is due not to any weakness in their position, but to the fact that values were based on the supposition that they would keep on doing the large busi¬ ness of the past few years. Their reserves are said to be equal to any contingency, and their assets are mostly of easy convertibility. The Finance Minister of Austria recently stated that the re-establishment of cash payments coiistituted an integi-al part of the government's programme. The chief obstacle, according to this authority, is not the difBculty of coming to an agreeraent with Hungary, but that of collecting sufficient gold. THE termination of the lumber difficulty is good news qualified only by tbe fact thafc the settlement is not of a character as flrm and dui-able as one might wish. After all, tbe settlement is little more than the adoption of a statn quo; and nothing has been done to les¬ sen the possibility of future hostilities. Labor troubles are at times not without their advantages, for as in contests between indi¬ viduals, sometimes they have produced a better understanding be¬ tween people, which often is all that is necessary for the mainten¬ ance of peace and the possible development of friendlier relations in the future. The lumber boycott has been closed without any of these betfcer results. Both Fides seem to have got tired of the fight and so ruspended it. We fear it is only suspended. Without re¬ ferring to any particular scheme,, we wish sorae scheme, whereby future difficulties would be submitted to arbitration, had been adopted. Sensible people, eveu when very intent upon '■ keeping their own end up," certainly ought to be willing to discuss what tbey want and even agree to disagree before stopping work and closing , yardsand going, asit were, temporarily oufc of business, which, what¬ ever the result may be, inevitably means losa of money. The po¬ sition taken by the builders in their convention last February is the safe and proper one. Tbere should be at least an attempt at arbi¬ tration before a lockout or strike is possible. IF eyer there was a case that might have been adjudicated by reasonable men it was this lumber difficulty. Some of the demands on both sides were eminently just, others were—wewon't say unjust, but conspicuously impossible, Thei'e may come a day, of course, when an employer with iargesouied confidence may be able to allow auy oue of his employes or any walking delegate to examine his books, add up his proflts, and criticise his wages account. Some people say the sentiment of sympathy is increas¬ ing in the human race, aud if progress only goes on long enough there may come a time when a new contract or a large order for goods will be valued mainly as another bond between the employer who gets it and his men; when the head of a flrm will hasten into his factory or his office to announce, with tears in his eyes, the capture of every new customer and will receive congratula¬ tions in which all personal and selfish considerations will