THE REAL ESTATE RECORD September 24, 1881 Changed, but Seem to Have Been Mistaken Within the Daily Papers, When They Write About and Pay Regular Dividends
Total Page：16
File Type：pdf, Size：1020Kb
REAL ESTATE RECORD AND BUILDERS' GUIDE, YoL. XXYIII. NEW TORK, SATUEDAT, SEPTEMBER 24,1881. No. 706 Published Weekly by Tlie [parks in the Twenty-third and Twenty-fourth! ocean, fringed with magnificent beaches, at IWards. It is absurd to talk about a popular 1 [their very doors, as New York has. The REAL ESTATEKECORD ASSOCIATION! JNew York park on Staten Island. A! Londoner or the Parisian is forced to depend TERMS: mleasure ground without carriages is entirely! upon the vacant spaces provided him by the [impracticable, and how could people get twos municipalities. But the New Yorker in one ONE TEAR, iB advance $6.00 [or three miles in from the Narrows withl hour can get to Coney Island or Rockaway, Communications should be addressed to [their teams from the upper part of Newt and he has fifty miles of coast to chose from C. W. SWEET, 13T Broadway.] [York island. Mr. Sedley suggests a tunnelj on which to spend his seaside holiday. In [under New York bay, but that is even al fact, the New Yorker has twenty places for J. T. LINDSEY. Business Manager. [wilder proposition than having a park on| recreation up the North River or along the [Staten Island. Sound, where the Londoner or Parisian has The oMcial record of conveyances and! one. When Morningside, Mount Morris and THE CHANGE. mortgages of last week shows an increase! the park at Highbridge are completed, New The beginning of a new administration is' over the week before. For the week endingj [York, at least the upper portion of this |a matter of serious moment to all who own September 21st the record is as follows: island, will be pretty weU fixed for pleasure |or deal in realty. A President bent on an N.Y, No. No., 23d No. I grounds. City Am't, Nom &24th Am't. Nom.-! agressive foreign policy, or one who had| Conveys, involved, inal. Wards. involved, inal. | •.«-» 111 $1,381,992 16 $45,928 6 [some financial hobby to ride, say for in-J BUILDING AND PRICES. Mort- Am't, No,, Five Am't, No,toT,& Am't. stance such as Greenbackism, might so steer The architects, or at least some of them, gages, involved, per ct,'involved. Ins, Cos. involved,! the ship of state as to get it among the] 149 $1,159,231 29 $235,631 28 $464,450j 'are talking bearishly about building schemes. rocks. In other words, the policy of any ad They think prices too high, and report anun- Broadway property holders profess to be] ministration directly affects values, and! |WilIingness among investors to engage in afraid of the underground railway scheme,] Ihence the interest owners in real estate have, new enterprises until the price of labor and and are taking steps to prevent the building! |in every change in the government. bricks is lower. It is probably true that we of any tunnel under that thoroughfare. We] The new President is one of our own citi have been overdoing the building of houses, have|,never believed that the uadergroundj zens ; while lacking in legislative experi not only in New York, but all over the tunnel scheme would ever amount to any ence he is a man of marked executive facul-j [country; and the consequence has been a thing. The cost of construction would bej Ity. His administration of the Custom' material advance in labor in certain depart something enormous, and peoj^le would not! [House left nothing to ba desired, while hisi ments, such as bricklayers, masons and an en travel through a hole when they can take] ability as a party manager and judge of men] hancement in the price of bricks, lumber and elevated, open air cars, Broadway prop lis universally conceded. The halls of Con other building material. But notwithstand erty holders in the past have managed very] gress are not the best school for executive] ing the apparently excessive building, rents successfully to drive off the retail business] officers. The ability to make a speech or are advancing everywhere. There are per from that street. Any kind of an under [take part in a debate, is very different from haps more houses in the market for sale than ground road would benefit them, a factf [the faculty which makes a man a good judge the public care to buy just now, but there which they do not seem to understand. of other men. This is President Arthur's are not enough houses to rent. But the strong point; whatever policy he has in 'architects are not to blame for their bear The stock market has been reasonably' view, he will undoubtedly be able to carry j ish talk; this is the dull time in the yeat strong since the death of President Garfield it out. for them even in the briskest seasons, and It is idle to make any predictions as to the: President Arthur does not impress anyone] their interest is on the side of lower prices course of the market until the policy of the [as being a sensational official. He is politic ;in labor and material. If they succeed in administration is made known. Gigantic land secretive in his methods, he will have talking down quotations they will make speculations are under way in grain, cotton good advisers and will undoubtedly endea-j [building business aU the brisker by and bye. and petroleum. No doubt other products of !vor to advance the prosperity of the country, It is not, however, reasonable to expect human labor will in their tvirn be marked up, [Fortunately the debt has been refunded, any serious set back in the pirice of labor and in price. It is the old story over again, first; and the most serious task of the Treasury] material. The volume of our currency is stocks, then general merchandise and labor, Department accomplished. Should the newi steadily increasing; we have nearly doubled and if the parallel holds good, real estate' administration put a stop to further sales of [the circulation of gold, silver and paper last of all. We have got cotton, grain and |governm.ent bonds, it would have a benefi [since January, 1879, and every month shows petroleum so high that they cannot be ex-^ cial effect upon the other interests of the new additions to the circulating medium. ported, and hence gold has stopped coming! .country. The government being constantly There were exceptional reasons for the ad this way, which is a very bad sign. People^ in the market to buy its own obligations,] vance in bricks last summer, but the higher who feel like investing in stocks would do; bur national bonds have been held at abnor price of labor will make every purchasable well to be careful; but there is no doubt at [mally high figures, and the price of money] [commodity dearer. The laborer has an ex all about real estate. has been artificially cheapened. While the! cuse for his additional wages in view of the old high rates for money will never come: increased cost of living. The prices of flour, Mr. Henry Sedley, a former editorial back permanently, it is not credible that in vegetables and rent have all advanced, and writer on the Times and Evening Post, wants a new country where so much has to be; the laborer, to make both ends meet, must the city of New York to buy a park on done in the way of improvement, money} !get more wages. Hence we do not look for Staten Island. He says, very truly, that [should not be worth more than $% P^^ cent any reduction either in the price of labor or just now the land is cheap, while the situ a On the whole, the outlook is promising so! [in the manufactured articles on which labor tion is picturesque and the views of the if ar as the new administration is concerned [is employed. ocean and bay are very flne. The native «-»> trees are magnificent; beautiful lakes abound, A leading morning journal has been de- The Public, the editor of which is supposed and the natural advantages are everything' |voting a good deal of space to proving that| jto hold intimate relations with Jay Gould that could be desired. It is hard to say in iNew York is far behind London, Paris andj land his friends, says in its issue of Septem- [other European capitals in park room, and! what direction New York may spread in a Iber 22d : [the flgures it gives are conclusive on that! hundred years time, but certainly there wiE- A few months ago, Mr. Gould was predicting be very few persons to second Mr. Sedley's fpoint. But New York does not need so! [a great panic—such a collapse as few men in the proposition. If we are to have more breath Imuch park room, because of her more f avor^ [street had ever seen. It has not come as yet, and [he seems to have changed his mind. Now the ing spaces, we must utUize Blackwell's Sable position as compared with Paris and! |men who then sneered at him are repeating the sland, and perhaps lay out two or three iLondon. These latter cities have no great! ame gloomy predictions. They also have 902 THE REAL ESTATE RECORD September 24, 1881 changed, but seem to have been mistaken within The daily papers, when they write about and pay regular dividends. Those who purchased the past two months as completely as Mr. Gould was mistaken earlier in the year. real estate, are apt to overrate certain mat Standard, Homestake, Deadwood Terra, Onta ters and to convey false impressions.