May 29, 1886 The Record and Guide. 703 ning of an enterprise the completion of which would so greatly THE RECORD AND GUIDE, advantage the metropolis and all who own real estate therein. Published every Saturday. 191 Broadweiv, N". 1?. The work of reconstructing New York city keeps right on, for in Our Telephone Call is JOHN 370. addition to the new houses in every street of any size can be seen the tearing away of old landmarks, to be replaced in time by struct­ TERMS: ures more worthy the city. But should not something be done to ONE YEAR, in advance, SIX DOLLARS. prevent the interruption to city travel by reason of new construc­ tion in business streets ? There ought to be an ordinance prevent­ Communications should be addressed to ing the tearing down or building of houses during business hours. C. W. SWEET, 191 Broadway. Night has been abolished, so far as building is concerned, by the J. T. LINDSBY, Business Manager. new iliuminants, especially the electric light, and there is no rea­ son why new construction should not be confined to the hours VOL. XXXVII. MAY 29, 1886. No. 950. between sunset and sunrise. Of course this would not be necessary in streets where there is little business transacted, but great avenues like Broadway should not be the scene of interruption during busi­ This is generally rather a slack season in ordinary business years, ness hours. but some of the markets have shown unwonted activity during the « past week. The new impulse was first felt in our stock mar­ The Democrats will try to push through the Morrison revised ket, which was taken hold of by the bulls here and in the West, tariff bill, but there does not seem much likelihood of an indorse­ and quotations were very smartly advanced. There is a feeling ment by Congress of any measure reducing the imposts on foreign that, for the present at least, the strikes as a disturbing factor is products. Despite our present tariff, importations are now so large over. Then we are shipping grain and cotton; there is an excel­ as to threaten to drain us of gold, unless'we can] get better prices lent consumptive demand for goods, the stocks of which in first for our agricultural products. But the gold unit injures us in every hands are not large. Money is easy, confidence has returned, and way. It marks down the price of our cotton, grain, provisions and the only really disquieting feature of the situation is the renewal of petroleum, and it has so cheapened foreign goods °as to enable the exports^of gold. This is due to the fact that although our exports European manufacturers to undersell American goods in their home are better than they were our imports are unusually large. The markets; hence there will be bitter opposition to any scheme reduc­ Wall street movement is a natural one. Stocks have been depressed ing impost charges. Congress ought, however^ to enlarge the free- during the early part of this year by some very threatening factors. list, cut down some exorbitant duties, relieve our tariff laws of With these out of the way there is a rebound iu the market such ambiguity, and correct our Custom House methods, so as to prevent as was to have been expected. But this flurry may not last long. litigation. But reducing duties in a wholesale way at this time Real estate business is quieter, as was to be expected on the would not be tolerated by the country. approach of summer. s There is reason to belive that work on the Hudson River tunnel, It is a suggestive fact that Chicago operaters have for some time will soon be recommenced. According to a very credible rumor, past been the leaders in stock speculation on our New York the New York Central, the Pennsylvania Central and other roads Exchange. Indeed, for some years past Chicago has supplied the who bring freight and passengers to the New Jersey river front boldest operators on all our Exchanges, and they have often got the have joined hands to help forward this enterprise. Io is said land cream out of the bull or bear campaigns before the New Yorkers has been bought commanding the approaches to the tunnel on the " caught on." The mortality among New York stock operators for Jersey shore. Were this great work completed it would rank next the past six months has been something remarkable—Vanderbilt, to the Broadway Arcade in helping to build up the metropolis. Morgan, Heath, the Osborhes and Woerishoffer are dead, while Naturally a great deal of the business now carried on on the Jersey Jay Gould has retired and hosts of other so-called leaders shore will be transferred to this island, for all the companies com­ have stepped down and out. True, there is left Deacon White, ing from the West could not afford to depend on ferries if rival Newcombe, Cammack and a few others ; but the street as well as corporations could haul their freight and passengers right into the the public does not expect to see the old vim in Wall street until heart of this island. Of course the present terminals on the Jersey some new and young blood dominates the market. Chicago can shore would probably remain where they are, from which could be really felicitate itself, not only for keeping control of the grain and shipped much of the heavy freight that come from the West, but provision market, but also for being at times the leader in the passenger and lighter freight would of necessity be brought to this current speculation in Wall street. city by way of this tunnel. How absurd is all this vaporing about the fishery disputes with '' Sir Oracle " seems to think that the police of our large cities Canada. As a nation we are handicapped, as we are without a are over-zealous in their efforts to crush out the Anarchists and navy and our coasts are defenseless. Secretary Bayard must murderous cranks to whom so much, attention has been directed speak with bated breath, for he knows that England can afford to lately by the press in connection with the labor strikes. If public be insolent, and that as a nation we are at her mercy, because of meetings are to be suppressed, he thinks ought to be done by due the stolid stupidity of the majority in Congress who mistake poten­ process of law, and that it is unsafe to lodge the power to disperse tial for actual military and naval power. Canada can well afford peaceable meetings because the orators wag their tongues so loosely to seize our fishing vessels and plunder our seamen. We must as to become objects of popular dislike. If we wish to imitate the pocket all such humiliations because of our impotence as a naval methods of foreign governments in forcibly stopping the expres­ power. It would take us five years to get into a state of reasonable sion of revolutionary opinions let it be done, he says, by the enact­ security, provided we commenced right away, for we have neither ment of properly framed laws. Our police captains are hardly the ships, guns, or a system of fortifications. The Holmans and kind of persons to fill, satisfactorily, the position of censors, with Randalls in Congress will not allow us to commence the necessary the right to break skulls as well as disperse meetings at their own work. Nothing short of a national calamity will rouse the Ameri­ sweet will. This is a view of the case which has the merit of can people from the fools' paradise they are now living in. novelty at least, but the public feeling is so justly incensed against the Anarchists that " Sir Oracle's" protests against what he seems to think the officiousness of the police is not likely to be much In response to requests from many subscribers we publish else­ heeded. where the text of the supplemental act amending the charter of the Broadway Underground road and now known as the Arcade. A The officers of the American Jockey Club will probably agree perusal of its provisions, as passed by the Legislature and signed by with "Sir Oracle "that the police are exceptionally zealous in the Governor, may serve to remove certain impressions touching enforcing the anti-betting laws at their race courses. Judge the exact powers of the company under the charter. Some very Munson and others complain bitterly of the remissness of the police respectable gentlemen, property-holders on Broadway and Madison captains in not providing a sufficient force to guard the entrances avenue, have issued a call for a meeting on Monday next to raise a and to suppress disorder, while at the same time swarms of police­ fund to, if possible, nullify this charter in the courts. THE RECORD men in citizens clothes were employed as detectives to arrest AND GUIDE, while it respects these gentlemen, does not sympathize persons who were caught surreptitiously betting on the races. In with the object they have in view. We have always believed that this connection ex-Governor Dorsheimer, in the Star, makes the the creation of another street eighteen feet below the present following striking remarks : surface of Broadway would be a benefit not only to the city but to the property-holders. It will add, we believe, very largely to the The police are busy enforcing the odious law against betting on race courses. It is usual to say that all laws should be enforced.