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Real Estate Record and Builders^ Guide REAL ESTATE RECORD AND BUILDERS^ GUIDE. YoL. XXYI. NEW YOEK, SATUEDAY, OCTOBEE 2, 18S0. No. 655 Published Weekly by shares. They had been unduly depressed; No state of permanent war can (jxi.st, and the business of the country, especially the hence we look for an increase of tlie liusi- '€^t 'Mml Estate %mx^ %BBomixan.West , was at low ebb ; they were wanted as ness of the country that will give the roads TERMS. links between old roads or continuations all they can do and add to the desirability of into new regions, and hence the extraordi­ investments in railway securities. No mat­ ONE YEAR, in advance.. ..$10.00. nary rise in Iron Mountain, Kansas Pacific, ter if there is a panic on a small scale due to Communications should be addressed to Kansas & Texas, San Francisco, and other dear money. Suppose we should liave one more obscure jiroperties. No doubt there is or two bad harvests. We can now aft'ord C. W. SWEET, money yet in many low priced stocks, es­ them. The country is increasing in popula­ No. 137 BROADWAY pecially those in our mineral regions west of tion, in wealth, and in business so rapidly, the Missouri, where the tides of emigration that all our railways, iivliether they are East We receive frequent comj)laints from our are taking up new lands, and new crops or West or North or South, are certain to subscril:)ers at the mauuer in wliicli they are have to be moved or new mines opened. appreciate in value as the years roll by. annoyed by outsiders anxious to glean in­ But to speculate wisely in these outlying- We argue then, that stocks are not too formation from these cokimns, and who in­ properties requires special knowledge, wliich high; that they cannot be called high until sist upon occupying temporary desl^-room the general public cannot procure. Hence they bring less than 5 per cent, upon the in in their ofifices wlien looking over their files. it follows that the ordinary investor is forced vestment. Eight i>er cent, stocks selling at Of course these complaints, Avliile implying to choose between the various well-known less than $120 are really very low, and there a well deserved coinpliment to THE RECORD, securities which are dealt in on our New is a margin of profit in nearly all the good are dulj-- appreciated by us, and we should be York Stock Exchange, and it is to the high stocks which are to-day dealt in upon the glad to tell sucli outsiders that newspapers not the low jjriced that he will be attracted. New York Stock Exchange. when worth reading at all, are worth buy­ Governments barely yield 3K per cent, ing. As it is impossible for us to interview interest ; gilt edged bonds not more than all tliese borrowers, we beg oxn- subscribers 43a to .5. Money is easy in Europe, and secu­ THE HARLEM DISTRICT. A\'lienever annoyed again by them, to inform rities Avhich pay 8 per cent, there, are con­ Taken from one end to another, probably such intruders, that our i^ublication office sidered desirable above par. We shall never no less than 400 houses are being built to-day is at 137 Broadway, and that the price of again here, at the East, see the very high in Harlem, and in this energetic work of im­ THE REAL ESTATE RECORD is |10 a year, pay­ prices for money which obtained before the provement, there are to be found not only able iu advance. civil war. A 5 per cent, investment, builders who erect houses to sell, but capi­ whether in land or railway shares, will be talists who are building for investment. Mr. considered as being worth par. Hence it ABOUT INVESTMENTS. Wm. B. Astor, for instance, is improving follows that all securities which are certain One Hundred and Twenty-ninth and Thir­ The general rise in values, and the profit­ to pay more than 5 per cent., are very sure tieth streets, between Fifth and Sixth av­ ableness of all business is adding to the bank in time to command more than par. New enues, with first-class four-story houses, and accovmt.s of neariy every jjerson engaged in York Central pays 8 i>er cent, and could pay Mr. E. S. Higgins is building several houses professional or commercial life. Except for 11. It is not dear, therefore, at .f 130. Lake on One Hundred and Twenty-fourth street, four months of the fall of 1880, and during Shore earns 12 jier cent, per annum, and between St. Nicholas and Eighth avenues, perhaps two or three times in the paper pays 8. It is very cheap at 1107. Chicago, and again several more on One Hundred and money era, there are few periods in the liis- Burlington & Quincy earns 15 per cent. It Thirtieth street, between Fifth and Sixtli. tory of the country which can compare with ought to command .floO. Morris & Essex is The greatest activity, of course, centres iu the iDresent in the profits realized by all who better than most of the V.onds pn tho market, the immediate vicinity of One Hundred and deal in securities, or who manufacture and and would not be dear at .$130, although it Twenty-fifth street, where tlie soil is com­ sell consumable goods. pays but 7 per cent., and so through the en­ posed of sand and gravel, the very healthiest With every one or nearly every one mak­ tire list. We believe that there is still a soil to live on, and Avhere the stretch of ing moneyj the question arises, how will the large margin for a permanent rise in all the ponds of stagnant water that used to infest surplus be reinvested ? first-class investments now dealt in on the the section more southward never reached A good deal of it will naturally be used in New Y'ork Stock Exchange. even in the past. In fact, One Hundredand enlarging the business undertakings in What if there should be railroad wars? Twenty-fifth street should be the first which the profits were made. A certain They never last long in prosperous times, great retail street of tho future above Twen­ portion also will be available for new and when the roads have all they can do. It is ty-third street. Nowhere between these two tempting industrial enterprises. Then again, only in the event of poor crops and competi­ points can there be found so good a business family expenses will increase, as tlie stand­ tion that the cutting of rates is indulged in. street, running from river to river, and ard of home and personal comforts v.-ill be Nor is there any fear of the building of rival where, owing to tlie connecting links tha* higher. But, making allowances for these roads. True, the coming four years prom­ are being formed by means of the Eiglith new outlets for the employment of surplus ises to see a revival of railway building iii and Third avenues with the villages of what funds, there will remain a large sum to be this country upon a gigantic scale. Another was once Westchester County, but is now the invested in the securities now on the market. great railway mania is on the tapis. Thcje annexed district, a most thriving trade is ia Which of these will be the favorite specu­ will, in time, be unnecessary roads built. slowly centering already. There are now sev­ lation during the coming season? But the trunk lines are being amalgamated eral stores in that street between Third and Last fall the mania was for the low-priced and systematized, and in the course of time Fourth avenues, and as far up as Madison railroad properties, and in many cases the each will liave its own section of country avenue, and again between Seventh and profits in these was extraordinarily large. undisturbed. The consolidations which Eighth, with more of them being continual­ The condition of affairs was such that it did have begxiii will continue until the roads be­ ly added. not take .much courage to buy any cheap come monopolies within their own region. The project to have a grand market iiome- 848 THE REAL ESTATE RECOR6. October 2,18^0 where on the Haidem has been again revived, doubtedly get a better award. The New York A good deal has been said lately, and very since the decision has been reached not to Elevated system is complete. It runs through justly, about the mendacity and villainy of rebuild Manhattan market, and we under­ a continuous line of houses from the Battery the California mining sharps who have re­ stand that combinations are now being made to Harlem River. But the building of new cently been " scooping " Eastern investors: looking to its ultimate establishment north houses is steadily going on east of the Second but, bad as these rascals undoubtedly are, of the river, at about the same time that the avenue, and along the line of the Metropoli­ they are as babes in wickedness compared long talked of Harlem River improvements tan, west and north of Central Park. In with the splendid operators who have been shall have been completed. Of course, audi other words, the ratio of increased receipts managing the two elevated roads. a wholesale market will be of great service will be far greater in the future on the Me­ Moral.—Put not your trust in the state­ to the constantly increasing population of tropolitan than on the New York line.
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