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Real estate record and builders' guide: v. 27, no. 670: January 15, 1881

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EAL Estate Record AND BUILDERS' GUIDE. Vol. XXYII. NEW YOEK, SATURDAY, JANUARY 15, 1881. No. 670. Published Wee^cly by I^^e %ml Estate JRecortr l^ssotmibix. TERMS. ONE YEAR, in advance.. ..SIO.OO. Communications should be addressed to C. W. SWEET, No. 137 Broadwav THE WORLD'S FAIR AN ASSURED SUCCESS. We have the fullest faith row in the suc¬ cess of the World's Fair to take place in this city in 1883. The Commissioners, after a good deal of wrangling, have, at last, organiz¬ ed by placing at the hsad of the enterprise General Grant, the very man whom we urged [for that position, long before tLe site was selected. The Recced, when first pro¬ posing the name of the ex-President for this exalted position was blamed by many parties, among them several valued subscribers, who took exception to our nomination. That, however, was in the midst of a j)olitical campaign, when all citizens, among them even some of our most esteemed friends did not reason calmly, nor looked at the question before them]_from a standpoint that ought always to command support, namely '' busi¬ ness success," This now has been secured by the election of General Grant as President of an enterprize that will reflect credit not only upon our^own community, but upon the entire country. Wheneve" this is the case, practical beneficial results must folIo%v, no more to the owners of landcontiguous to the site than to the general property holder in and around New York. We know that some legislation will be re¬ quired, which jway ultimately result in the shifting of the site, now fixed for Inwood, but whether there or elsewhere, on Manhat¬ tan Island, the prestige given to the enter- IJrise by the election of the only man, we know of, who has not the word " fail" in his vocabulary assures an unj)recedented success for an exhibition, that will indeed astonish the civilized world. Organization, that great forerunner of success, has now been per¬ fected, practical work will follow shortly under such a leader. And, let us add in the language of Colonel IngersoU, " Don't you forget it." one of transcendent significance. It means | that one man in the United States, to-day, can malie any quotation he pleases, for any article bought and sold, throughout", the whole nation. If the possessor of this tre¬ mendous power was an utterly unscrupTilous operator, he has a veritable Aladdin's lamp in his possession. For, one day's misquotation of four or five of the leading staples of com¬ merce, would put]him in possession of wealth that Croesus or Rothschild could not equal. Fortunately, IMr. Jay Gould's high character is an assurance that he will do nothing of the kind, and his eagerness to obtain this control of the telegraphic system is probably due to his desire to jprotect the i)ubhc from the machinations of conscienceless specula¬ tors. and investors the wisdom of paying some attention to Southern securities, both rail¬ road and State. There have been some very great advances in the price of certain Southern railway securities, and the time cannot be distant when something will be done to rehabilitate • the credit of all the Southern States. It is safe to predict, that, before the close of this year, there will be an active movement in Southern State securi¬ ties. On the whole, the outlook is very prom¬ ising. Judged by the above facts and by others in the possession of all intelhgent cit¬ izens, there is no cloud in the financial skies. JAY GOULD, MASTER. We have it from undoubted authority that the object for which Jay Gould has been working for ten years past, the absolute con¬ trol of the whole telegraph system of the country, has at length been accomplished. All the telegraph lines and their appurten¬ ances are to-day as absolutely under the con¬ trol of Jay Gould as is the Iron Mountain or Missouri, Kansas & Texas roads. It is a notable circumstance that the daily press has not cared to let this fact be known: for it is FACTS TO BE REMEMBERED 1879. Emigration.........No. 177,826 Gold and silver import.. S 86,848,13J Merchandise, export___S 751.761,204 " import.....S 485,516,166 Exports over imports.. .S 266,245,038 Railroads built......miles 4,721 Railroad earnings 11 mos. 150,000,000 Wheat crop........bush. 448,755,000 Cotton product, Sept.l.bls 5.073,531 Ironproduced.......tons 2,741,853 Coal, anthracite.....tons 26,142,689 Gold & silver produced.. $ 71,163,732 1880. 457,275 75,548,731 871,666,346 7C9,029,302 163,638,044 7,207 210,000,000 480,850,000 5,7.57,397 3,300,000 2.'^,6CO,0CO 73,537,546 Coin and currency.....$1,165,55'3,5031,400,000,000 We are particularly indebted to the Financial Chronicle for the above table; but we have corrected and added to it, so as to bring it to date. If the tables for our other productions.' and manufactures could be as concisely stated and presented, it would only confirm the impression given by the above striking figures. We here see at a glance the reason for the abounding prosperity. Our liroductions are greater, the ijrices are better, and, above all, we have a currency, perfectly safe and con¬ stantly growing in amount. Instead of some $750,000,000 of paper, only half used, we have nearly double that amount of gold, silver and paper, in very active use. Tim¬ idity has given place to confidence, and en¬ terprise follows inaction. Then, it must be borne in mind, that our population is increasing with great rapid¬ ity and in unexpected directions. To the amazement of the country and the world, it now turns out that the South has been in¬ creasing in population a trifle more than the North. With all the advantages apparently on the side of the North, emigration, enter¬ prise, thrift, control of money, both blacks and whites at the South have been multiply¬ ing their kind, so as to actually give them the advantage over the North. Indeed, the ' South wiU gain one member and the North loose one, in the next House of Representa¬ tives. And this also suggests to capitalists DOWN TOWN INVESTMENTS. It was only a few months ago, that we called attention to the probable revival of values in tho lower part of the city. We then pointed to the peimanency of certain lines of business concentrated, especially in the first ward, by the termmi of the elevated roads, and our predictions have been more than verified, not only by the improvements made in the lower i)art of Broadway and adjacent streets, but also by transactions \n real estate running into large amounts in the second, as well as in the first ward. In fact, owing to the causes heretofore de¬ tailed, and the additional permanency established by the improvements and ex¬ tensions of the Produce and Stock Ex¬ changes, the entire region along Broadway, south of the General Post Ofiice, has been the object of inquiry and investigation on the part of ciu- heaviest capitalists. We merely need allude to the purchase of the northeast corner of Broadway and Wall street by two of our leading banks, to the purchase of 64 and 66 Broadway by a Phila. delphia capitalist, then, again, to 78 and 80 Broadway by a syndicate of foreign in¬ vestors, and now to the purchase of 8 and 10 Wall street by Mr. John Jacob Astor, to show what heavy blocks of money are going in that direction. These purchases, how¬ ever, it should be remembered, arc not made for purposes of speculation, but for invest¬ ment on which a fair return must be had, if they are to continue. Should present owners of down town property, on the strength of these few investments, raise the prices of their present holdings, they will simply once more drive capital away from that section, and "kill_^the goose that lays the golden egg." It must be borne in mind that unless a j)er- centage on these investments, can be had. larger than is obtainable by the purchase of other securities, there will be an end to the purchase of down town real estate. The time may come, and sooner than is now anticipat¬ ed, that the increased rentals of last year, in the lower part of Broadway, cannot be main