crown CU Home > Libraries Home
[x] Close window

Columbia University Libraries Digital Collections: The Real Estate Record

Use your browser's Print function to print these pages.

Real estate record and builders' guide: v. 60, no. 1534: August 7, 1897

Real Estate Record page image for page ldpd_7031148_020_00000245

Text version:

Please note: this text may be incomplete. For more information about this OCR, view About OCR text.
Aui>-tus( 7, f8(>; Kecord and uuiae ^yiĩ ^ E5TABU5HEĨ) ^ MARCH 21^^ 136S- De/oteD ĨO HeM EsTATE.BuiLDíKg AílCIÍITEeTJR,E.KũIJsní01DDEGaRAT10rf, BUSlI^ESS AttoTHEMES Of GeĩIEIÎAI iNTERfST. PĨ13:, PIÍ YHÎ 1« ADVANCE, SIX DOLLARS. rubUshed cvery Suturduy. TiL.l-JUNE, .....CORTLASBT 1370. Communicatlons should bø addressed to C. W. BWEET, 14-16 Vesey Street. ./. T. LÍNDSEY, Bna^ims Manager. ^^^ •■En,le.red ai Ihe }'os!'0.(Rce al XcW York. .V. T.. as second-cUiss Miitler." No. i,o;î4 Tiut the untOmpromisiDg attitude of the eilver men hae hitherto .toocl iu the way of their applieation. Now that estreme Yiews arií losiDg support aua a spirit of compromise is notlceably inore geueral; the actual proepects for sUver are much im- pi-ovea Apart from uulimited-coÍDage^at-aDy-ratio crazes, thia country as the largest producer in the world, should be ready to propose and support reasouable suggestÍoDS for improving the coudition of silver. The rabid American gold-bug who is lu a loudly exulLaut "I told you so" mood over late quotations, l3 no move sensible or patriotic than any American would he wlio would rejoice over a fall iu the price of wheat. We do uot waut free coiuage of eilver or tbe free coinage of wheat, Dor is it to our interest as a uation to see the priGe of one fall- liife^ any more tĩian that of the other. VOL. LX- AUGUST 7. 1897. YoM eãn alstáin dail/ Inrormation as to who is in the market for Siiiidiiig- âiid EĩngineGring Materials,.and as to exaetly what is wanteti: by addressing The í: W. Dodge Co, (Inc), The Cam- meyer Building, No. glO Sixth AVenUe. Increase your sales. Keep posted- t)o aS otheí- big flrmS ate doing. ___„ THAT tlie public are iii tiie Stock i\iarket ís overwhelm- ingly proved hy iDdiscrimiuatiou in iho buyiUg that we have seeu' this weok-. Geueval views and pviDcipIes have m- doubtedly guided if. or rather forced il aloug. aud the whoĩc couutry 'has bceu cheered by the confldence iu our bUsiuess f utDve" Hiat this implies. Whether there is DOt sodic over-eou- fldeuce \\hich ^vill briug disappointment hcreaftcr, is a fair sub- ject for discussioii. Is not the future being too beavily dis- oounted and is there not too much loose talk of dividcuds and othei' thiugf) that are to raise tbe value of seeuritĩes for the markyt io bo a aaí'e ouc to buy on before tliere has beeu a í^-huiesaîe reactlou? W(; predicted better times aud higher vaiucs wheii our voiee waa the onîy oue tíouudÍDg this cheerful Dote aiut wfe stiil believe !u the coming of subatantiai bcueats to corporate securities, but we thiuk it would he wholesome if furthcr advauccs waitcd upon the nearer approach of these beneflls. Wost oí ihe promises of immcdiate dividends upon Mpecuiative issues is uuwarnuited by attained pecuoiary re- sults. We do DOt beiievc the managcrs of the propcrties at- feeted by this talk will givo ocuasiou for doubt to be thrown upon tlie qUality of their administration by declariug divideuds that arc to b-j earncd uext year, or at some later datc. Tlie paymcDt of an uuearued dividend is a .siu that promptly comes ho'me t(j roost, as wituess the course of tĩie Southeni líailway preferred after the declaration of its firsfc and only divideud; its price to-day, uotwitiistauding a booming market, is beĩow wliat it was ti^en- It is reported that Sper ceut. is to be paid OD Atcliison Aajustmeuts, though bareiy 2 per ceut has been earned- If this is so tiie Directors are prepariug to exceed the powers given them by tlio adjnsliuent mortgage and to violate the spil-it of tlie agreemcut uudor which the property iu tiieir chai'ge was reliabilitated, besides discrediting tbeir managcment in the eyes of the holders of $1^0,000,000 or so ■yf flxcd interest bonds. It is iu limes like these, wheu we arc rcgainiug our old-timc commercial confldeuce aud activity, that imprndeut policles are cspeciaiiy to be deprecated, and we hope those Avho aro reapousible for the euormous trusts that unr curporatc busiuess represeuts wili have this carefully in miud, ROM time to time instances reach us of great hardships eudnred by property-owuers whose holdings are taken by, tlie city ĩn advanee of the makiug up of the estimates of dam- íîges aud theĩr paymeut by the city. The latest phase of these hardships, to which our attention is drawu, ĩs the impossibility of raisiiig mouey on the owner's claims. We are tolû of an iustance în which a lady owniug property on the site of Mul- berry Beud Park was in great ueed because tĩie property npon A^hich sJie depeuded had passed to the city aud, peudiug the paymeut of the award of damages, she vvas without meaus. The holder of a mortgage upon this property threateued to forecloso; that he could uot do so did not mitigate the trouble (iie poor lady was in because sh& was ignorant of the fact. At her reiiuest her agent tried in all thc ordinary channels to raise a loau for her, hnt could uot owiug to the legal perplexi- ties surroundiug the ease. Eveu the City Cbamberlain, who geuerally has mouey to loan on real estate, deeliued to make an advance with the claim on the city given as security. With property gonc, even tlie reuts belng collected by the eity, and the utíual channels of relief cnt off by the uncertaiuties that gather around au uudetermiued award, the owner, depending upou her eondemned property for subsistenee, was iu a very grievous case. It certainly would appear that something siiould be doue to avoid the iuflictiou of these many incou- vcuicnces upon iuuoceut people, and the duty of fludiug the proper remedy should fail upon the city that takes the property. We recognize the l'act that the city pays good interest on the award, but as both award and interest are in posse aud not iu esse, this fact fails to help thc owuer without other means. We are' aware, too, that the difflculties in the way of providing a rcDiody that will be fair to both parties are vcry great, but canuot believe that they are iusuperable. CANADIAN taríffs have been prepared lu accordance with tlie new policy of the Domiuĩon, and next year wiU see a very Interesting experiment tried alougside of another of au opposito nature ou this side of the border. Britlsh maun- factuvers are pveparing for tlic event aud expecting that the discrimlnation of one-eighth in their favor will resuU lu their gecuring the Cauadiau trade iu textiles, irou and steei, uow cou- truiled by ihe United States. Disintevested peoijle, on the other haud, prcdict that the Uuited Statee mannfacturer wlll show hia mettle aud overcome tho disahilities prepared for him by pvoduclug eheaper than ever. Europe Is vevy much concerued iu the fall In ailver, whlch is destroyiug long-cherished hopes of agricuiturists and uusettUug the Eastevn trade. So long as therp is dauger of further deeliue no one wauts to ão anythlug cícept euppiy ímmediate needs, aud we know how seríously a pollcy of this nature cãu veduce the volume of trade. The cír- cumstancep are serious and it would uot be sci-pvising if they compelled fln luternatioual cousidevation of the siĩver question and the creation of a remedy to cheek the ãecline. There ave ways-^thpy have been pointed out !n these columus before— by wWcil ího Uaã Cf slivci' as: mouoy cau be greatly increased, COL- G. M. SMITH'S appointmeut to the Police Board adds another to the uumber conuected with the buildîug in- terests oĩ: this city who have bcen calĩed to aid in the municipal governmeut, There is none who knows its requirements, whefcher for physĩcal improvemeuts or for peacable adminis- tration, better than the members of tbis trade. The progress :ind prosperity of their ventuves depend so mueh upon these liioy ought to make good public servauts wheuever fitted by expcritíuce aud character for the respousibilities of publĩc of- íiee. The few days that have elapsed since Coĩ. Smith's ap- poiUtmeut bavc already giveu pvomise of beueficial vesults from liis service. As the leadiug member of a prominent fivm doing an exteusive business iu building supplies, Col. Smith is oualjled to take large views, and his long serviee wiíh the COth and 7th vegiiueuts has given him a kuowledge of aud an abllity to mauage meu that cauuot fail to prove valuable on the po- lice fovce. Buĩlding iutevests, as well as the appointee, feel hon^ ored by this appolutment. .- - ■-■-—-—•-------------------------------------------------- HE coiucideut fall of the priee of silver aud rise of the price of wbeat witnessed hy the world lately shouĩd re- cũive some atteutlon from Silverites. Durlng the last cam- palgn one of tlielv weightiest statemeuts to the Farmer was ihat the price of hls pvoduee had fallen step by step with tUe demouetizatiou and deeliue in the pvice of silver. Silvev, we were told, had dragged down everything in Its descent, aud better priees, pvogress, civilizatioa itself weve impossible 'uutil Cougress awoke and "did eomethlng" for the white metal, Nothiug has beeu doue, we kuow—the whole Westevn commer- cial world has stuck stubboruly to gold aud yet here we have wheat, that fearful example held so pathetically befove our eyes by Mr. Bryau, advaneiug in value daily as though It had uo counectiou whatsoever with silvev or the fviends of sllver and their arguments. Of couvsê theve musf be some esplaua- tiou of this exasperating pheuomenon. It may be the perni- cious work of the Goĩd-bugs plottiug for a longer aud a stronger hold ou the counu-y. Oue of tbe beautleS oí tUe Gold-bug.is