Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: v. 57, no. 1461: March 14, 1896

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Mareh 14,1896 Record and Guide. 4as 11^. "Dp6tED P RpJkL ESTWE.BuiLDIffe AflCrfrrECTURI J^OUSEtfOU»I Bi/snfess Alto Themes ofGEitenii Ijftaipi. PRICE, PER YEAR IN ADVANCE, SIX DOLLARS. PubUthed every Saturday. TBLBPHONB,......OOBTLANDT 1870 Oommnnloatlons aliould be addressed to C. W. SWEET, 14-16 Vesey Street. /. 1. LINDSEY. Business Manager. "Sntered at the Post-offUx ai New York, IT. Y., as lecond-class matter." Vol. LVII. MARCH 14, 1896 No. 1,461 The Rkcord and Gvivs will furnish you with daily detailed reports of all building operations, compiled to suit yocir business speci.fically, foi 14 cents a dag. You are thus kept informed of the entire market for your goods. No giiess work. Every fact verified. Abundant capital and the thirty years' experience of Th^ Kkcord and Gvide guarantee the com¬ pleteness and authenticity of this servioe. Send to 14 and IG Vesey atreet for information. LONDON promptly became a seller on the announcement that the Ohio Republican State Convention had decided for bi- mettalism. Of course the people who drew this plank do not know what they are talking about, but foreigners are justitied in their suspicions of the securities of a country that has suf¬ fered 80 much from currency heresy and still coutains men promi¬ nent enough to control a party convention who will indulge in such foolishness. If this is an example of what we are to look to from the party whoso success at the polls next November is said to be assured, we may also look for lower prices on the Stock Exchange and hesitation in geueral business. What gives the Columbus announcement the most importance is that it is taken to represent the views of a prominent candidate for the Presidency on the popular .side. Whether it is the convention or Mr. MeKinley that is employing an import ant product of Ohio to darken the vision of the other does not matter; tho business publics here and .abroad will take it that the success of the latter will mean a continuation of the absurd tinancial policy that needs only time enough to ruin the country. It is a most difficult thing to ruin a country, as history has proved ; but there is no surer way of doing it thau through an unsound cur¬ rency. Everything goes to show that we canuot expect any¬ thing from the class of people who now dominate our political life. This Congress, about which some favorable expectation was indulged in last November, has been more hurtful to busi¬ ness than any of its predecessors, and n^w the party organiza¬ tions throughout the country are, with few exceptions, showing themselves to be not very much better. The politician has proved himself to be an unteachable ass and if the business men, who have learned something from the events of the past two years, want to get the legislation they so sorely need thev must do more than sit still wliile the professional politician is passing such resolutions. -------•------- THE Tonquin loan of $16,000,000 at 2I2 percent., guaranteed by France, issued at a price to pay about 3 per cent on the investment, was subscribed for twenty-eight times over. Since the relations of the two countries have assumed a better char¬ acter, the trade between France aud England has very largely increased. Latest advices from Germany are that the easy con¬ dition of the money market has imparted a strong impulse to business. Trade being in a favorable condition aud the annual reports of the leading banks, together with their dividends giving general satisfaction, there is no scope for pronouuced pessimism. It need not bu pointed out that this is an entire change in the tone of reports from Berlin of late. The new Anglo-German Chinese loan will help the situation materially, and the opposition to the proposed new Bourse law is becoming so strong that it is hoped that, if it cannot prevent it altogether, it may lessen its severity. The report of the British South Africa Company for the year ended March Slst last has ouly re¬ cently appeared, and, although ancient history, is interesting owing to the prominence the company has in the public mind. Income increased from $222,000 to $594,000, and ex|.endituies from .$328,500 to $712,000. Itwill be seeu that income bad not come up to expenditures. In spite of this fact the company was enabled since the period with which the report treats to issue 500,000 £1 shares at £3.10 each, so that the prospective advantages of these sh.ares must be considerable iu the minds of investors. Special reports relating to gold mining in the Rand district indicate that the grievances ol which the mining community has complnined are gradually being removed and that the industry is being treated fairly by the Transvaal government. Complaints of too plentiful money come also from Australia, where deposits are beginniug to mount up while enterprise continues to languish on every side. The wool sales at Melbourne have resulted in much higher prices than were obtained a year ago, by about $7 a bale, though $1.25 a baleleis than in 1893. Chili is to come into the market for a loan of $20,000,000, while Argentina is getting into a position where a new loan will be very convenient if uot absolutely necessary. The Italian government must tind comfort in its distress over ita losses in Abyssinia from the prompt and generous oti'irs of the pecuniary aid received from London and Paris. No one, h'