REAL ESTATE RECORD AND BUILDERS' GUIDE. VOL. XXX. NEW YOEK, SATUEDAY, SEPTEMBEE 30, 1882. Nr. 759 Published Weekly by The well eat our cake and have it, too, and this is Jay Gould. Of the seven papers composing why it is money is scarce. The country is it, he now coQtrols the World, ibhe Tribune, REAL ESTATE RECORD ASSOCIATION using it in a thousand ways not employed the Mail and Express, and the Su7i. A vote TERMS: before the revival of business in 1879. There has been passed discharging the Executive is no relief to the market, because there are Committee of the Associated Press,, and OJVE TEAR, in adTaace $3.00 no importations of gold or bullion from Eu­ transferring the collection of news and the Communications should be addressed to rope, such as we had in previous years. market reports to the News Bureau of the C. W. SWEET, 191 Broadway. Western Union Telegraph Company. Unfortunately, for the papers who now J. T. LINDSEY, Busfaiess Manager. We are exporting less and importing more tlian in former years. Wheat and flour go make an^appeal to the public, they do not forward slowly, and, as their price is less, come into court with cloau hands. The The REAL ESTATE RECORD will appear in an en­ they do not make so much exchange as in Associated Press itself was and is a detest" larged form next week, with s^reral new and attract­ 1879, 1880 and 1881. We ship less meat, able monopoly. It tried to put a stop to the ive features. Its circulation, hereafter, will be general, while the miscellaneous list has fallen off. establishrnent of any new paper in any State not local. As we shall publish a very large edition, Hence there is no likelihood of gold coming of the Union for the last^tvirenty years. By advertisers, if they wish to take advantage of it, this way until next spring, if even then. It a corrupt combination with the Western would do well to send in their favors early in the is not improbable that before the close of the Union Telegraph Company, no new paper week. business year a demand may spring up was allowed the Associated Press abroad for our securities, and this would news, except at killing rates. It is Tlie list of offici.al conveyances this week again bring about shipments of gold this true that some new papers were started, shows a gratifying increase over the busi­ way. Tnis, however, is not to be expected but they were at a woeful disadvantage ness transacted during the corresponding this fall or winter. with the Associated Press on account of the week of last year. It is worth noting, by greater facilities and the monopoly con­ the way, that the banks and insurance com­ trolled by the latter. A rule established by panies are loaning less money on real estate THE TELEGRAPH AND ^HE ASSOCI­ them Sifter The TFoWc? was started in 1860, this year than last. This is doubtlpss due to ATED PRESS - required unanimous consent for the admission the demand for money in Wall street : The articles wliicli have appeared 'in the of a new paper. This, of course, amounted CONVEYANCES. daily m wspapers, respecting the relations of to a denial ot any sharing of the privileges 1881. 1882. Jay Gould to the Telegraph and Associated of the Associated Press, yet tho monopoly Sept. 22 to Sept. 22 to 2S, inclusive. 28, inclusive, Press, must be a puzzle to the average rea­ was a bad thing for the journals them­ Number 89 lis der. When Jay.Gou Id succeeded in wresting selves, for it put a stop to wholesome com­ Amount involved $1,333,33.3 $2,088,T.T4 No nominal. 21 3i the control of the great ^telegraph company petition, and this is why it is that the great No. 23 I and 24th VVards. 19 14 Amount involved. $90,593 $10,8; 5 from W. H. Vanderbilt, the RECORD an- papers of the country are no longer publish­ Ko. nominal 4 is piOunced that Gould now had the press by ed in New York City. In ability and enter­ MORTGAGES. the throat, and that the proprietors and prise the press of Chicago is ever so far Number...; 117 123 ahead of the pi ess of the metropolis ; while Amount involved $1,076,874 $1,321,3>.=> editors would in time be forced to recognize No. at 5 per cent ...:.. 29 36 him as their master. The only way out of theire are better, journals published in Boston, .Amount involved $469,100 $t57,5}0 No. to Banks, Trust and the difficulty, as was then noted, wa,s for;a Cincinnati, St. Louis, and even San Fran­ Ins Co 27 20 cisco, than are to be found in our own city. Amount involved $562,500 $293,000 unanimous demand on-the part of the news­ papers for Congress to nationalize the tele­ There, is but one issue to this imbroglio, the graph system, and make it a, part of the government must assume control of the tele­ If the figures reported weekly and pub­ postal service of the country. In every graphic system of the country, and, as for lished in The Wo7'Td, showing the earnings other nation, save alone the United States, the cables, it is quite time that they were of the New York Elevated Railway Com­ it has been found indispensable to make the managed by a commission representing all pany are not grossly overstated, and those telegraph a government monopoly. A Ger­ the nations which they connect. of the Metropolitan Company proportion­ man, Frenchman or Englishman would not The history of telegraph consolidation and ally understated, it would seeai that any for a moment consent to a private company cable consolidation, is a.repetition of the New York Elevated stockholders Who ac­ having the control or^^knbwledge of all his railroad stock watering of this country. The cepted the figures of a year ago and voted in family and business secrets. cables represent ten times the capital re­ good faith for the ratification of the agree­ The apathy with which the American quired to lay them, as the Western Union ment reoiueing his dividend from 10 to 6 per stock represents four times the money that cent., did so under a misconception as to public have looked upon Mr. Gould's abso- solute power over the medium which con­ would completely reproduce its plant. But, what his property was really earning. if the government is to make a monopoly of Either the earnings were diverted at that veys the news and reports the markets of world, is simply wonderful. This great the telegraph, it must nofe'pay an exorbitant time from the New York to the Metropolitan price for the wires of the Western Union, Company, or the reverse condition of things speculator is notorious for having no busi­ ness conscience. He cares nothing for any That the country will not stand. In one exist now, and ii is the Metropolitan people year the government could itself build as who are the sufferers. In either event it interests, save his own,;and permitting him to get in the position of controller of the complete an equipment as that of the West- would be well for a New York stockholder em Union Telegraph Company. There is to protest against the figures furnished him sole agency by which; the business of the country is carried on seems incredable in alre.ady a system of wires constructed to the a year ago on which ho based his judgment various Weather Signal Stations which as to the desirability of changing the lease. itself. When Gould first got possession of the could be the nucleus of a national system of There is some tall lying somewhere. telegraph system, the REAL ESTATE wires; but under no circumstances should RECORD forv^told what has since occurred. the government pay more than $50,000,000 The exchanges for the past week all The same point was made time and again, for the poles and wires of the present tele show a great improvement, not only over yet, with singular fatuity, the newspapers of graph monopoly. the previous week, but also over the corres­ the country failed to realize the danger they ponding week of last year. The commerce were in. Now come.=j to the fore the New The selling movement in government 4J^ and business of the country has been ex­ York Herald, the New York Times, and the per cents is ominous. Conservative people panding rapidly, and the only, drawback is Journal of Commerce. They complain that have always held that the high price of the scarcity, of money. We cannot very b he Associated Press has been captured by | government securities was tmnatural 882 THE REAL ESTATE RECORD September 30,1882 Money, in a new country like ours, is in­ the elevated road stations are very apt to HIGH PRICED MONEY. trinsically worth more than 3 per cent., and purchase rather than make a special journey "Why is money so high ?" asked the writer of the low rate which has prevailed for sever­ for articles of personal wear after they have a well known btisiness man. al years has been at the cost of some of the reached home in the evening. Hence well " Well, you see when it was known that the best interests of the country. The corner on located down-town establishments are doing crops were to be good, all the merchants and job­ government bonds which has been engineer-.