Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: v. 53, no. 1371: June 23, 1894

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Jnne 23,'1894 Record and Guide. 1007 ESTABLISHED ^ MARpH 21^ 1868. DEV&IED to f\EAL ESTWE.0UlLOIf/G ^acrflTECTUI^E,Kc!USEriOU>DEOOHJTlOlf, BasitiESs Alto Themes orGEfJEi^L li^itRpsi. PRICE, PER YEAR IN ADVANCE, SIX DOLLARS. Published every Saturday. Telephone,......Cortlandt 1370 Communioation» should be addressed to C. W. SWEET, 14-16 Vesey Street, J. 1, LINDSEY. Bvsiness Manager. Brooklyn Office, 276-282 Washington Street, Opp. Post Office. " Entered at the Post-office at New Tork, 2f. T., as second-class mailer." Vol. liii. JUNE 23, 1894. No. 1,371 For additional Brooklyn matter, see Brooklyn Department immediately following New .Jersey records {page lO'.iH,. PEOPLE seem to have given up liojiiiig for iminovemeiit aud to have taken to Vifondeiing how loug business, like a liatient given over by tlie doctois, can live at all uuder such conditions. Such a depth of jiessiinism if accompanied by activity in the markets, even though such activity brought declines in prices, would indicate that better times were near at hand ; but to-day activity is to be found nowhere, and ordinaly calculations are therefore valueless. This despondency into which the cominercial world has fallen is due in part to the con¬ tinued droning iu the Senate over the Tariif Bill, but more par¬ ticularly to the attention that has been in the past few days drawn to the condition of the Treasury. To this latter fact is also due the renewed gold export movement after the signs had beeu distiuct that the old movement was coming to a close. If we look back for cau.ses of most of tlie trade depression siuce last fall the conclusion inevitably forces itself that it is due to the unwisdom of the administration in forcing on the country a tariif discussion when it needed rest, aud to the utter inability of the Treasury Department to handle a very difficult situation. The public atteution having been so forcibly drawn to the state of the treasury's gold balauce, the situation cannot improve until something is done to quiet the fears so raised, and it looks as if the duty of doing this something will f.all agaiu on the banking interest of New York as it has done before, and it is to be hoped, iu the inter¬ est of the couutry, including the New York biinking inter¬ est itself, th.at this duty -vdll neither be dallied with or shirked. If iu any industry there is fouud a gleam of encourage¬ ment, it is iu the iron trade, w-here the hope is permitted that the orders held back by the fuel question may come for¬ ward now that the coal strike is practically settled, but this hope is mitigated by the announcement that continued operation of some of the largest mills and furuaces depends on a readjust¬ ment of the wage-scale. Wall street has had leisure to discuss the Atchison plan. Quotations apparently do not approve it, though the decline in these is as much due to the considerations which adversely[affect the prices of other .stocks as to the view taken of the plan. As has been already stated the investment public is not in the mood to look at anything- cheerfully. Even the declaration of the usual dividends on the Vanderbilts failed to ch