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Real estate record and builders' guide: v. 26, no. 659: October 30, 1880

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Real Estate Record AND BUILDERS^ GUIDE. Vol. XXYI. NEW TOEK, SATURDAY, OCTOBEE 30, 1880. No. 659 Published Weekly by €^t %ml Estate Mitaxh %BBamiian. TERMS. ■ ONE YEAR, in advance....SIO.OO. Communications should be addressed to C. W. Si;VBET, No. 137 Broadway TO OUR BANK PRESIDENTS. You are, almost every hour of the day, visited by capitalists anxious to obtain your views as to good investments. In every instance your advice is to purchase railroad securities and other commodities, which abound in and around Wall street. In nine cases out of ten your advice is followed, but in how many cases are your ideas cursed with all the expletives that the Anglo-Saxon language patronizes ? If you will be good enough to place a copy of The Real Estate Record, subscription price ten dollars, payable in advance (even by bank presidents), on your desks and study its contents from week to week, you will not only be better citizens of this enterprising- metropolis, but you will guide men of inferi¬ or intelligence into the proper channels of investment. There is nothing in this entire market so cheap at present prices as real estate. Why don't you tell your customers to buy it ? Show them the pages of The Real Estate Record open on your desk, and you can tell them where and what to purchase. Whatever you now offer them in the shape of securities has gone up at a terrific rate during the past twelve-month, while real estate has not. You now tell your custoaaers that you do not know anything about real estate, that you do not even own the building in which you transact your business; that you cannot loan on real estate—but are these valid reasons why you should not inform your cus tomers, that, for purposes of investment, reaj estate in New York City and suburbs is the very cheapest of all commodities, that it has not risen with the tide of prosperity as yet, and that the time is now very near at hand when a judicious investment in real property, instead of fancy property, will give pecuniary returns far more satisfactory and productive of less worry, more sleep and better digestion than any of the Wall street articles you now offer them. Show them The Real Estate Record, and your own consciences as well as your cus¬ tomers' pockets wiil be highly benefited. -—:-----<•>—----:— ' . ' -- . It really takes one's breath away to read the statistics as they reach us from tim^e to time from the Census Bureau. Here is our good sister City ol: Brooklyn, which only a few years ago used to be called New York's bedroom, with a population of 566,689, and the entire State of Rhode Island with only 276,530 inhabitants. Further comment is unnecessary. Great is Brooklyn, but how much greater the Em¬ pire State of New York, of wLich it after all only forms an integral part. Who, after all, can predict at this rate of growth, the future grandeur of our own unparalleled State, with its financial power, its increasing trade, its unrivalled commerce and its indomitable en¬ terprise ? It strikes us that even the veriest Hoosier of the great West feels his heart swell with pride when contemplating the picture pre¬ sented by this State of States. THE SELECTION OF THE SITE. To-day, or on Monday, the Committee on Sites, appointed by the temporary Board of Officers of the World's Fair, will discuss, in the presence of several interested parties, the merits of the various sites visited by them during the past few weeks. We pur¬ posely make this public announcement, as the Committee themselves have as yet failed to do so. It is important, even at these initiatory proceedings, that not only owners of real estat*;, but also the railroad magnates and leading hotel-keepers should be consulted. No World's Fair can be a flnancial success unless a combination of interest presents it¬ self to the minds of those who will profit by the increased amount of travel and the large influx of strangers in our midst. The representatives of the various trunk lines, as well as the managers of the city and suburban rapid transit and surface roads, and the proprietors of the leadinohotels and places of amusements, should all be consulted, as the views of such men, in regard to the practica¬ bility of moving and accommodating large bodies of visitors, are worth listening to before the subscription books are opened on Nov. 10. As to the real estate interest, we should like to see invitations extended to the Astors, the Rhinelanders, the Lorillards, Hamilton Fish and the like, all representing vast estates that have no particular axes to grind, or spe¬ cial localities to favor, and yet whose ideas, in regard to the general advantages derived from the selection of any special site, will be of inflnite value and guidance to the Com¬ mittee. Of course, it is vsrell understood that any decision arrived at for the present must be ratifled by the permanent Commission when organized after the closing of the subscrip¬ tion books; nevertheless, all precedents in such matters teach us that the action of those who have been temporarily engaged in the preliminary work is generally approved by those who come in at the last moment, when time, which moves quickly, does not permit any further delays. POINTS ABOUT THE STOCK MARKET. Knowing ones say that Jay Gould has fixed things with the Ijidian tribes in the Indian Territory. The Creeks, Cherokeea and other semi-civilized tribes have, it is hinted, agreed to withdraw all opposition to tlie opening of the Territory. The large allotments of land now held by the tribes would, in that event, become marketable; and the Indians would become enriched. It should be remembered that these partly civ¬ ilized Indians are controlled mainly by the half-breeds ; and these latter appreciate the advantages of wealth. The railroad com¬ panies have, ifc is said, come to an under¬ standing with the Indian leaders, and the Territory will soon be thrown open. Hence there isi a great deal of quiet buying of M., K. & T. and St. Louis & San Francisco. A deal is on foot in Central Pacific. These were marketed a year ago at 85, and are now selling under 75. They pay six per cent., that is, eight per cent, on the present price. Central Iowa is on the cards for a big ad¬ vance. So is C, C. & I. C, as the decision of the Supreme Court will soon be rendered, in which will be affirmed the liability of the Pennsylvania road for these bonds. Green Mountain mining stock, to which we have often referred as a good property, has made a large advance during the past week, and may go much higher. Ontario & Western, it is claimed, is about to have that long promised deal. People are afraid of this stock, beeause of deceptive points given ou!. from time to time, but Woerishoffer, Traske & Francis, Sam. Tilden and several other large concerns are said to be large holders of this stock, at pretty high flgures. While it is gratifying to note the avidity with which investors took up our city bonds, it should be remembered that half the money came from Europe. As the bonds are ex¬ empt frora local taxation, they are a good security to have in the house. But govern¬ ment's are better, as they are exempt from all taxation. The local taxation makes a difference of nearly one per cent, on the face value of the bonds. The rise in Chicago & Alton was not unex¬ pected. The road runs through a profitable country, and its local business is unaffected by railway wars. The present stock, it is supposed, will some time be worth 200. The cheapness of money, .it is now settled, is due to large trajisfers of European capital to New York City. Judguig from the im-