Brooklyn Real Estate." Grinder, Cnisher and 2 Roller Mills, 1 Denmede Clay I 5 Murray Street, Grinder Mill, 4 No

REAL ESTATE RECORD AND BUILDERS' GUIDE. ml VOL. XXVI. NEW YORK, SATURDAY, DECEMBER 11, 1880. No. 665. Published Weekly by But, will the public be benefited ? mtist congratulate the Various committees We judge not, for the present. The gains that they have at last agreed upon a site, ® Ije %m\ Estate ^Retorb l^ssocmtioit, of the express, i)alace car companies and and now fervently hope that they will TERMS, transportation lines will, in all probability, succeed in raising the funds requisite for hereafter be divided between the inner circle this vast enterprise, within the time speci ONE YEAR, in advance....SIO.OO. of railway officials. This generation will fied by law, January 10. It is a pity that an Communications should be addressed to never know the profits made by the leading agreement as to a site was not reached at 1 C. ^W. SIVEET, railway magnates from what may be termed the very outset, and the disagreements may the secondary business brought into exist have led to the withdrawal of cai^ital that No. 137 BBOAnwAV ence by the railway lines. Apart from their ought to have been subscribed ere this. I. interests in the roads, the VanderbUts and Nevertheless, this tardy but unanimous se 1^ others are holders of palace car stock, of lection of Inwood may yet induce capital NEW PHASE OF THE TRANSPORTA stock yards stock, they all will also be large ists, hotel keepers, railroad magnates and TION QUESTION. liolders of refrigerating car stock when these others to supply the money necessary to What will be the relation of the railway come into more active use. Then, they are make the exhibition a grand success. With transportatioa lines in the futvire to the ex enabled to provide immense fortunes in out this preliminary assurance, of course, it press companies, the palace car combina land for their heirs by investments in real would be idle to anticipate' great results tions and the fast freight lines ? These or estate in the neighborhoods of depots they fi'om an undertaking that must be excelsior ganizations were formed inside the railway I)ropose to establish. Thousands of vast in all its various details, so that New York systems to effect what the companies were fortunes are being rendered possible within can be proud, indeed, of the Interna not prepared to do for themselves—^the the next twenty years by the selection of tional Exhibition to be held within its palace cars to carry passengers from one end sites on the new lines running to the Pacific. borders. Its projectors have the very best of the country to the other, the express com All along the Southern, Union, Central and of wishes for success. It depends upon their panies to transi^ort parcels, valuable and Northern Pacific Roads the land has already energy and intellect now whether they will light articles of freight to different parts of been appropriated, which, in the fullness of or can take judicious advantage of the good the country at an advance upon the ordinary time, will bring colossal fortunes to the de wfil that bids them God speed. Time is rates, while the transportation lines dealt scendants of the present race of railway short; two years pass by very rapidly, and with the several roads and formed practi directors and manipulators. with due foresight success may yet be as cally a trunk connection between the farm When the roads begin to do the express, sured. regions of the interior and the great mar palace car and transportation business, it will Inwood, the site selected, can be reached kets of the country and the ports on the sea inure to the benefit of the immediate asso from the Grand Central Depot in fifteen coast. ciates of the great railway magnates. But, minutes. Some of the Hudson River steam It must be borne in mind that these or in time this abuse will be corrected. The uni boat companies own land near by and have ganizations sprang uj) and were in active fying of the railway systems will enforce the only to drive piles down to make lauding operation before the railway system was de responsibility of the directors not only to the places. There is forty feet of water at the veloped, and prior to the consolidations and public, but to the government. These facts landing. The tract selected has a mile pooling arrangements which are fast limiting cannot be always hid—they wiU be too pal frontage on the King's Bridge road, and a the number of railway systems to three or pable, &nd, after a period of abuse, in which mile frontage on the Harlem River. In the four. Now, that all the roads are becoming the people will be exj^loited, proper legislation 250 acres which it contains there are 4,350 either transcontine?:)tal or feeders to great will bring about a remedy. It is not improb lots. The land is held by about fifty owners- interstate lines running from the Atlantic to able that some of the great railway lines the Pacifio coast, is it not probable that they will purchase the good will and business of will change their relations to the palace car the express and palace car companies, but RAPID TRANSIT ON THE HUDSON. companies, the express companies and the yet it must be remembered that corporations, Wo have heard a great deal of late of the transportation Knes ? Already the Wabash literaUy, have no souls. In dealing with the transval district, which includes the iregion system of roads is carrying express government they exact a heavy premium for known as Carmansville,Washington Heights packages. The Baltimore & Ohio Road is their vested rights. In dealing with one and Inwood. There can be no manner of fighting the Pullman Palace Car Company, another they have no compassion. On doubt that there is a grand future for this and the poolitug arrangements inade by the several of the roads the express companies district, situated as it is on the borders of tlie great trunk - lines are doiug away with the have already been peremptorily ordered off. Hudson, and embracing some of the most necessity for freight transportation lines— The courts have so far taken the conservative beautiful grounds known on and around the Merchants' Express and the like. In view and have admitted that they have some Manhattan Island. An effort has been made other words, as the combinations of railway rights which the existing corporations must recently to bring this section more promi direction becomes greater and have a larger respect. It is, however, safe to predict that nently into the real estate market and to urge area of country to cover, they have been within the coming decade the railways will upon investors the propriety and advantage enabled to provide for the freight and pas themselves do their own express and palace of lodging their spare funds in the soil of senger traffic, which has heretofore been car business, as well as secure the profits now that section. No one, of course, can find monopolized by these parasitic organiza absorbed by the freight transportation lines.. fault with the efforts of those interested to tions. The profits which legitimately be bring this locality more prominently to the longed to the railway companies, have in THE INWOOD SITE. front. But the sound proverb that " God the past been frittered away upon organiza The quaint saying of the Hibernian gentle will only help those who help themselves," tions which lived only because the com man that "the site for the World's Fair comes in quite appropriately right here. panies themselves could not transact all their would be selected after the Fair has been Why do not the owners of property in and business. held" will not prove true after all. We around Inwood, which extends from Fort 1084 1 HE REAL ESTATE RECORD, December 11,1880 George to Spuyten Duyvel, and those owning virtually control the traffic between Western be successful. Their inside price will proba real estate at and around Carmansville and Europe and Eastern Asia. We would lose bly be from 60 to 75. They will sell to the Washington Heights, do something practical all that lucrative and growing trade if the jobbers at from 90 to 95. The innocent in to bring this section into prominence ? There steam vessels were to ply directly between vestors will take them between that figure are splendid opportunities all along that the ports of Europe and the eastern coasts of and par. All will go well for three or four streak of land to build several first-class India, China and Japan. The vast trade of years—the road wiU be completed—then will docks on the Hudson, docks that will not the Pacific would be almost wholly lost to come the failure to pay interest, foreclosure only be ornaments to that locality, but will the United States. All the great corporate proceedings, reorganization, more bonds, to attract business, that has heretofore been interests of this country would insist upon be followed by another failure further along denied it owing to non-accessibility. With the government putting a stop to the prose and another reorganization, the investing docks like these constructed on most approv cution and completion of this work. Yet public the victim every time, the great con ed principles, the time will not be very far here are the bankers of London and Paris tractors, manipulators and bankers reaping distant when we can have rapid transit to actually paying a premuim for what is sure the rich harvest.

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