AND BUILDERS' GUIDE.

YoL. XXIX. NEW TOKK, SATUEDAY, APKIL 22, 1882. No. 736

Published Weekly by The the residence at the corner of Tliirty-fourth year, as well as by the natural increase in REAL ESTATE PVEGORD ASSOCIATION street and Fifth avenue, it is equally useless our native population. and will never bring half its cost when put The bears present some strong arguments TERMS: upon the market. to sustain their view of the market. There QWA YEAR, la advance - - - - - $6.00 One of Stewart's mistakes was in not will be no silver conference in Paris and Communications should be addressed to training competent successors to conduct hence no cheapening of the.money of the the business upon his demise. He knew how world, which would of course show itself in C. W. SWEET, 137 Broadway the enhanced value of everything purcliased J.T. LINDSEY, Business Manager. to organize the many departments of his great establishment and give them compe­ throughout the civilized world. The Ad­ tent heads, but he chose a law3-er to conduct ministration is determined to do all it can to THE STEWART ESTATE. a mercantile business, and from all accounts discredit silver in this country. There is a The late A. T. Stewart has been regarded it has been strangled by red tape. Stewart's constant shrinking in the volume of our as among the most successful men of his successor denied his assistants freedom of national bank currency and some day the age; yet there is no person, who, while he action; they were cribbed, cramped and gold artificially kept in the country will lived, made so many and such conspicuous confined in every possible way. Those Avho find its way across the w^ater. Grain ship­ mistakes. He bought real estate quite ex­ were not forced to resign were asked to ments have stopped, but little cotton is tensively, but in nearly every case the pur­ leave, and department after department had going forward and we are actually repur­ chase showed entire lack of judgment. He to be given up. chasing provisions sent to foreign ports. purcriased once valuable property on Bleeck­ A. T. Stewart did one service to the trade Our importations have increased and some er street, because it was cheap, unaware of of the country. He established the one time or other there will be heavy differences the fact that it was steadily deteriorating; price system and insisted upon cash pay­ to settle in gold. Then again the crops may he got possession of old churches in unde- ments. This led to ^small profits and large turn out bad, in which case there will be a s'lrable locations, while his acquisition of sales, which, while it concentrated the busi­ heavy drop in the present figures. It is con­ the flats at Hempstead was a coni3j)icuous ness into a few houses, was a benefit to the ceded that there is dulness in business instance of business folly. Hempstead was community by the assurance it gave of circles compared witli the activity of last cheap, because it v/as undesirable and una- honest goods at reasonable rates. year. There is absolutely nothing to give us A'ailable, and the money in real estate is higher prices but the immigration and the made in proi^erty Avhich has a future, and IDromise of the crops. Without the latter Avjiich is dear and will be dearer. Then Mr. THE FINANCIAL OUTLOOK. there ought to be a further shrinkage in Stewart, during the whole of his active life, values, though of course there will be oc­ The stock market has been so heavily effectively opposed underground aud ele­ casional vigorous rallies. oversold that the bears are now the best vated steam roads on Broadway, while the sustainers of prices. Any little flurry in street car was his particular aversion. But ANENT NEW PARKS. stocks sets thom covering and so prices are the construction of the elevated road on The Sun objects to- the laying out of pretty well maintained at the low level they Sixth avenue has greatly increased the price of parks in the annexed district, but favors reached after the failure of tlie famous peg reoity on that thoroughfare, and* has ruined them in that part of the city which lies east, speculation of Vanderbilt and Gould. There the retail business of Broadway below Four- of the Bowery and below Tompkins square. does not, howevei', seem to be any present toentli street. Tiien, as hss been repeatedly Here live nearly 300.000 people who have no prospect of a bull market. The same general pointed out, it is that part of Broadway on park pleasure ground, while the iDopulation causes which have been depressing prices which street cars run, w^hicii retains its is dense and the streets narrow. But the since the crop failure of 1881, aro still at Rreat retail business; that is to say, between reason for parks in the Twenty-third and work, and until there is a reasonable assur­ Fourteenth and Thirty-fourth street is not Twenty-fourth Wards is that the land cau ance of a good harvest, it is idle to expect only a favorite location for stores but for now be procured very cheap. These new any marked advance in stock values. The tlieatres. To perpetuate his memory after pleasure grounds would be accessible by the high prices for Governuients and the cheap­ lie died, Mr. Stewart built a hotel for elevated roads as well as by way of the Forty- ness of money show tliat investors are not women; he took every precaution to have second street depot; but the construction of buying but selling stocks and do not know liis business firm continued under his own new parks on the East Side would cost mil­ what to do with their money, hence it is un­ name, while his final resting place v>-as to be lions of dollars, and would -do but little employed or is in Governments, where it in ia a splendid mausoleum ia Gaixleu City. good. But the city should do something for at least safe and can be reconverted into But tho Woman's Homo is now an ordinary this part of the metropolis. Portions of the money when things look better on the Stock hotel, the great business whicii lie built up, river front might be improved. Without any­ Exchange. The very large business that is with so much care will not outlast, the pres­ thing so costly as the Thames embankment, being done in real estate is due to the ent year, and his very body has disappeared, we might have pleasure gardens and refresh­ natural desire on the parfc of investors to put and there are probably not more than three ment places along the East River front, their money into somethiug v^diich lins a persons who know the secret of its where­ utilizing open ground and the ends of the better future than stocks and bonds. Usu­ abouts. There are no poor women to thank piers. Then certain, streets might be lined ally eas}'- money means a rising stock him for a luzurious home, there will be no Avith trees. Much of this population find market, but continuous clieap money great establishment to perpetuate his fame relief in the hot summer nights by cheap means that people who have large means in the business world, and no innusoleuni trips to Coney Island. Glen Island is also a distrust all investments in stocks and are anywhere to mark the spot where he lie^; in­ favorite and cheap resort for our East Side keepiug theii' funds in Isand. The bulls terred. After all, what a failure wuo liis people, and its success has been so gi-eat iiave a goad de.il to s;iy of the ilual effect on life, despite the money lie made as a mere that quite a number of places just beyond stocks of the great immigration, but un- mercliant. Hell Gate on the Sound are being fitted up fortunate'ly the railway receipts from that for East Side summer excursionists. The source are but a trifle and the new labor The great building on Broadway and cost of the parks in the annexed district will hardly be available for helping the busi­ Tenth street is literally a white elephanl,:. need not be large enough to frighten even ness of the country before next year. The It is of no value as a store, it is too far down our most economical taxpayers. aad too costly for an opera house or a thea­ one interest that it will certainly stimulate tre, and it would require tc o much money is that of unemproved real estate throughout to alter it into a hotel.. It was built on leased the country. All the western and north­ It is a noticeable circumstance that there ground, and bears an arinual rental of $36,000 western, roads must in time profit largely are relatively very few foreclosure suits, to the Sailors' Snug Harbor estate. As for * by the million people who come over this while thei-e has been a decided falling off iu 384 THE REAL ESTATE RECORD April 22, 1882 the number of mechanics' liens filed. At the proper time comes. The property is FINAITCIAL TOPICS. the same time, the number of partition suits bought in the name of outsiders, so as not IV. is larger than usual. Real estate dealers to excite suspicion, with a view to its trans­ THE tTNITED STATES TELEPHONE COMPANY. will understand the significance of these fer to the real owner when the necessary In discussing financial topics interesting to in­ facts ; it shows that the real estate business property is secured. John O'Connor, of vestors and to the pubhc, it is THE RECORD'S aim is in an exceptionally healthy condition. Newark, N. J., who purchased some Fifty- always to select those most neglected by the daily Builders are paying up, and property is seventh street property for Mr. Navarro press. Hence, in considering the various efforts being disposed of under sales of court. lately, has taken title to $100,000 worth of now being made to destroy the BeU Telephone Company's monopoly of the telephone business of land on the southwest corner of Eighth av­ Patrick Sheehan, through the Herald, the United States, a company has been chosen for enue and Eighty-second street. The size of calls upon the Legislature to amend the the theme of this particular article, about which the plot is 102.2 feet on Eighth avenue, and law which gives landlords a right to collect probably less is known than any other. Indeed, 140.3 feet on Eighty-second street, x—^xl29.7. there are so many rival telephone companies in rents promptly from tenants. He points out This would be an admirable site foran apart­ the field that " one at a time" must be the guid­ the fact that the Gladstone land laws in Ire­ ment building or a family hotel. West Side ing maxim in any endeavor to analyze their land afford numberless excuses for the non- property has so far been a disappointment, respective merits. paying tenant, which are not in our land but its time is coming. The United States Telephone Company was laws. But it will take a good many Pat­ «»> organized in 1880. The names at the head of the ricks to persuade the American people that enterprise would seem to "mean business," for The Herald is inaccurate in its statement it is desirable to reproduce in this country thez'e are such prominent men as Morris E. that 900 houses costing $10,000,000 were the same condition of affairs now existing in Jesup, of Jesup, Paton & Co.; D. WUlis James, built in this city during the first three-and- Ireland. If the Sheehans had their way, of Phelps, Dodge & Co.; Gen. Horace Poi-ter, a-half months of the year 1882. It is true Vice-President of the PuUman Palace Car Com­ and the law was so altered that dishonest that plans have been filed for that expendi­ pany, and President of the New York, tenants could evade the payment of their ture, but very few of them have been begun West Shore & Buffalo RaUway Company; rents, the whole community would suffer, and some of them never wiU be. There will Gen. Edward F. Winslow, President of the as there would be a prompt and general ad­ be a great many alterations this year and St. Louis & San Francisco RaUway; Chaiies yance in rentals. Four and five per cent, G. Francklyn, the promoter of the Municipal Gas some building, but there will be no such ac­ is all that a conservative owner of realty now Company, and of so many successful new enter­ tivity this summer as there was last. The expects for his investment; but if the latter prises; Hatch & Foote, the bankers, and many high prices have put a check to the building is made insecure by law, he wiU create an others equaUy knovsna as experienced, shi'ewd mania. It is true a .good many of the old men, interested in the company. But as the Bell insurance fund by demanding a high rent. contracts have to be finished and a great Telephone's dominion over the telephone can only The people of this country will never sanc­ many alterations in existing houses are to be be overthrown by legal battle, the names of the tion anything like the Irish land laws. What made, but the motto wiU be to go slow in all counsel are perhaps as important, if not more so, the English Government ought to have done new ventures. There has been a check in than those of the leading officers, directors and was to have purchased the land from the general business, which is having its effect shareholders. The United States Telephone Com­ Irish landlords at a fair valuation and resell pany have engaged as their counsel—^beside a host upon those who erect builcings on specula­ it on easy terms to the actual tillers of the of patent lawyers and experts—^Messrs. Alexander tion. We should not be surprised if there soil. This would have the same effect as & Green, ex-Governor IngersoU, of Connecticut, was a revival of building in the fall, espec­ and ex-Senator Roscoe Conkhng. Mr. Conkling, the Stein reform of the land laws in Prussia ially if the country is blessed with good whose mind is as active as ever, though diverted and the change effected by the revolution in crops ; but there is now no danger of over­ from poUtics just now, has, since he left the Sen­ France. But the complex and hairsplitting building such as there was a year ago. ate, taken up the study of the telephone inven­ regulations of Gladstone's biU have only tions and of the questions involved in the made confusion worse confounded and cre­ Certain real estate pui-chases indicate that the controversy between the two companies, with ated a social agrarian war. The State has Jews are mcreasing in numbers in this city. This great earnestness aud exhaustive thoroughness, no right to interfere between the landlord is shown by then recent acquisition of real estate and though he hesitated considerably before being and tenant except to enforce contracts. for religious and educational pui*po.ses. It is wiUing to stake his professional reputation on the Any other interference is attended with the noticeable, by theway, that this is almost entirely successful issue of the contest against an already at the east side of the city and among the oi-tho- estabhshed and powerful monopoly, he now de­ most baleful results. dox, old fashioned Hebrews. No. 69 Ludlow street clares positively that it can and wUl be over­ Greene street is coming to the front for has been purchased, upon which will be erected a thrown. synagogue, 25x83, costing $9,000. It is for the business purposes. We have already noticed congregation, Beth Hamedrash Hagodel. They The primary, or as it is technically called, the the plans for new manufacturing and busi­ are also making a brick extension at No. 70 Co­ basic claim of the United States Company is ness establishments on the streets west of lumbia street, costing $3,000, for the Fu-st Hun­ that the telephone, as an instrument for the elec­ Broadway and north of Canal street; but garian Congi-egation Ohab Zedek. The building trical conveyance of articulate speech, was in­ the following list of plans filed within the cost $6,800, and was pm'chased from the City vented by James W. McDonough, in Chicago, last two weeks tells the story better than Mission and Tract Society. Another Hebrew before Bell, Gray or Edison invented it, and that the company controls McDonough's and other any words of ours : congregation has purchased Nos. 13 and 1.5 Pike street for $20,000. It will be noticed that these patents, which it has obtained, to perfect its tele­ Greene St., No. 16, six-story iron store ; cost, $26,000 phone system for practical operation througout No. 18, 32,000 purchases are all on the east side of the city and No. 45, are due to the increased niunbers of foreign Jews the country. McDonough, who claims to have No. 131, warehouse^ .. r;^^^ No. 123, who are settling in the poorer quarters of New invented the telephone in June, 1875, in Chicago No. 125, " 35,0t0 York. Not a few of the Russian Jews will settle (whUe Bell, according to McDonough's view of No. 133, 48,000 the case, did not claim the invention of the elec­ No. 135, " " 48,000 in this city Hebrews get along in this countiy. No. 137, 48,000 The generation of twenty-five and thii-ty years ago, trical conveyance of articulate speech till the Corner Greene and Spring sts,, 60.000 centennial summer, a full year later}, made his 80,000 who kept httle stores in Chatham street, have managed to enlarge their sphere of operations and first application for a patent in AprU, 1876, and They are wise investors who have acquired called his " telephone " which means far-sounder, property in the old Eighth Ward. The up­ are now among our wealthier citizens. Most of the newly arrived Jews, however, follow humble much more appropriately teleloge, which signifies ward movement of wholesale business, as occupations in very poor quai-tei-s, but another far-speaker. McDonough urges that Bell's in­ well as the call for certain kiuda of manufac­ generation will doubtless put them where the ventions, for which patents were apphed for be­ turing industries, will bring the region west older American Jews now are. The Sehgmans fore he (McDonough) asked for any, were simply of Broadway and south of Washington were very poor when they came to this countiy, for improvements in telegraphy, and that Bell square into demand. Then, whenever the and the present head of that banking house was a did not, according to his own statement as pub­ North River tunnel is completed, it will add veritable Samuel of Posen, and for six years car­ licly made, succeed in conveying a single word very greatly to the value of realty in this ried his pack and sold his wares from house to by electricity until the centennial summer—long after BeU's first patent was issued to him. But section of the city. house. it cannot be our intention, of course, to lead the « • readers of THE RECORD through the intricate It looks as though the West Side was en­ There is every reason to beheve that some time mazes of inventions fuU of technicahties. tering upon a new era and that strong peo­ this season the site of the old Post Ofiice vdll be Enough that the company which controls Mc­ ple are quietly picking up property with a sold, probably at pubhc auction. The Chamber Donough's patents has secured nearly fifty others. view to immediate improvement. Jose Na­ of Commerce wish to secure it for a magniflcent The most important of these, the controlling pat­ varro and several other persons connected public edifice. It is just the place for such a ents as they are called, were obtained only after long, weary and strenuously contested "inter­ with the elevated roads, have, it is said, been building. But would it not be well for the Chamber to do something towards giving the city ferences" in the Patent OflSce, in which the BeU quietly accumulating lots west of the Cen­ Company, with able counsel and experts, sought tral Park, with a view to improvement when a mercantile marine, before erecting a building to accommodate a profession which does not exist. April 22.1882 THE REAL ESTATE RECOD 385 to prevent their issue to the inventors of the " But wUl people put up the wu-es and perform, ercise of inteUigenee and reason, it wiU have United States Company. One by one, however, the service themselves ?" rendered an important service — whatever the the BeU Company was defeated. On August 9. " There is an enormous demand for telephones future of the telephone business is destined to be. of last year, a patent was granted for McDon­ outside of the exchange system which the exces­ ough's receiver (the listening instrument), in Sep­ sive prices of the Bell Company's excludes," Mr. MINING I ^ FORMATION. tember for the combination of the i-eceiver and Schuyler responded. '' Supposing you wanted to The only important work in Bodie is the transmitter (the speaking device), in October for string a wire to your neighbor's house, to your west cross-cut from^the Lent shaft, to get under the transmitter, in December for the separable stable, to the rear of your manufactory or mill, the vein with the rich ore which is now being diaphragm, etc., etc. Patents were also obtained and you could own a telephone apparatus aU worked downward in the old Bodie ground from by George W. Coy, another inventor of the complete, With the exception of the wii*e, for $50, the 600-foot level. The price of Bodie has been United States Company, for the switch-board to be your own. property forever, wouldn't you strong, due to the hope that the $500 ore vein system now in use at the central oflBces of the buy one?" Mr. Schuyler added, in a tone of may continue down 100 feet. If it does, Bodie is telephone exchanges, by means of which sub­ fii-m conviction, " TteU you that on that system I again a a dividend-paying proposition, and the scribers afe connected. On the McDonough pat­ can—outside of the establishment of exchanges, stock may go much higher; but the east cross­ ents, suit was brought against the BeU Company, and I have had great many applications for cut on the 800-foot level is a failure, while the or rather, one of its exchanges or sub-companies, hcenses for them from aU parts of the country— north drift on the 700-foot level to the Standard in Connecticut, and on the Coy patents in Massa­ seU 100,000. telephones per annum for the next line is, so far, a disappointment. It will take chusetts—it being claimed under the latter that five years to come. And as to renting telephones ninety days to reach the ore body on the west, if even if BeU invented the telephone before Mc­ by exchanges, the charge to subscribers in a large there is any. There is nothing in Mono to justify Donough, the telephone exchanges throughout city should not be over $5 a month." its present price. the country cannot operate their present switch­ " Would your profit not be much smaUer than It is confidently predicted that higher prices board system in central ofiaces, by which sub­ that of the BeU Company ?" will yet have to be paid for the Leadville prop­ scribers are connected with one another, without erties. Chrysolite will resume dividend paying Infringing upon Coy's patents. Another inven­ "In the long run, probably yes ; but I should be compensated for that by obtaining my profits in a short time. Iron Silver will continue its tion controlled by the company, the automatic usual dividends every two months, and that the switch-board, means to do away entirely with much more rapidly. It would be a quick, ready cash business. And suijposing eveiy one of these other properties will do well is shown by the in­ this switch system as now used by all the Bell creased output from the Leadville district. Were Company's exchanges. Every telephone appa­ 100,000 sets of telephones paid only a profit of $25 each, that would not be so bad, would it ? There it not for the outrageous rascality of the man­ ratus wiU be provided with a call bell, upon the agement of most of these mines, one might be dial of which the subscriber need only turn a are now 100,000 subscribers in the countiy, I believe THE RECORD has'stated, or one to eveiy tempted to advise investors to look into them. band in order to be in direct communication with One of the meanest of the Colorado mining another subscriber, and without first going 530 of population ; within five years there should be ten times as many. It should be brought to sharps was a candidate for the United States through the tiresome delay of calling upon the Senate, but, fortunately, he was not chosen. central oflSce. every man's house, office or stable, to eveiy church and school; wherever people are they The most extraordinary and apparently ex­ " We not only control, by the McDonough and want to talk, and wherever they want to talk travagant stories are being circulated about the Coy patents, the entire telephone system as now they should have a telephone." Lake Valley mines in New Mexico, engineered in use," said Mr. S. D. Schuyler, the President of "Have you any of the McDonough telephones by Roberts and his crowd. The report comes the United States Company, when more closely in practical operation ?" from so many quarters, and with apparently questioned on the subject, " so that all exchanges "The very original telephone which he made such good backing, that there would be some or sub-companies of the Bell monopoly will have in 1875 in Chigago, as testified to by a number of ^«ff°^, to beheve them, were it not for the ras to pay royalty to us if our suits are successful, reputable and uncontradicted witnesses, is in the cally deals, made by the people who own the but the automatic switch vidU effect a revolution mines, in the Leadville and State Line properties. in the telephone seiwice as soon as it is intro­ possession of the company and conveys speech successfully. It will be produced in court when A great many mining properties are selling off duced." at veiy cheap rates just now. Bull Domingo is " How so?" was naturaUy asked. the case against the Bell Company for infringe­ ment of our patents is tried, as it very shortly very low; it is a great mine to all appearances, " At present probably the greatest drawback and it is a pity that money cannot be raised to about the telephone, next to its inordinate ex- wiU be—aij^ tried thoroughly, I can tell you that." work it. Lots of properties are being lost be­ pensiveness, is the wearying calling up of the cause there is no assessment provision hi the New central of&ce every time you want to be in com­ "If McDonough's patents ara good, Mr. Schuyler, why did that rich Boston monopoly not York law. munication with another subscriber. It is a per­ What can be the matter with Alta Montana? fect nuisance. Under our system we shaU buy them up ?" " They tried to do so. They now, in their last Professor Blake, now in town, is on record as say­ simply have a httle caU-beU placed over our tele­ ing it is one of the finest mines in the West. It phones and by turning a hand on its dial the sub­ annual report, speak of them as worthless, im­ practicable, &c., and yet they paid him $5,000 in has a splendid miU, plenty of ore on the dump, scriber wUl be able to signal the number of any and the mine is well opened, yet the stock has other subscriber whom he would desire to caU." cash with a view of squelching his inventive genius, but it was fruitless. McDonough took fallen to one doUar. Perhaps the insiders know " You speak about the excessive expensiveness their $5,000, which they paid him on account, but something the public is not aware of. of the telephone. Could it be reasonably re­ he went on perfecting his inventions, which the There was a falling off in Chrysohte, due to a duced «" Bell Company could not get now for a million diminished output, which was occasioned by the " The adoption of the automatic switch alone doUars. There can only be one issue to this case, necessity of putting in a pump and other changes. would effect an enormous saving," Mr. Schuyler and that is one favorable to our claims." The insiders say the mine is in good condition, has plenty of ore in the levels, and vsiU soon be divi­ rephed. " At present the SAvitch-boai'ds in the As it is always well to have both sides of a central offices involve an outlay of at least one dend paying. question. THE RECORD, after obtaining Mr. There is a promise of good things in many of mUlion doUars. There must be over two thousand Schuyler's statement of the merits of his case, switch-board operators averaging, inclusive of the Leadville properties. Big Pittsburg is stiU and, even if unsuccessful in its issue, the mere under a cloud, but its territoiy is. extensive, and supei-intendents, &c., at least $500 per annum, contest itself must interest investors when such which would give a million as the total. Three- as the work of development is going on, no doubt strong parties as were named above have engaged some day it vdU give a good account of itself. fourths of this expense would be saved. A httle in it, for the law is proverbially uncertain, took boy stationed at the central office's automatic By the way, what has become of the Black HiUs pains to learn the view with which the telephone mine bought by ex-Senator Piatt, and managed switch could attend to it efficiently." monopoly as represented here regarded the hostUe " Has.it been in practical operation ?" for a whUe by ex-Postmaster James, Sheridan operations of the United States Company. The Shook and a number of Stalwart pohticians? " Yes, and with'perfect success. It is in opera­ result showed that whUe in their annual report, People say that after the stock was sold that was tion now everyday and we experience no trouble and generaUy before their shareholders, the the last that was heard of the mine. with it whatever. The inventors have perfected officei-s of the BeU Companies pooh pooh the every detaU that could be thought of." claims of Mr. Schuyler and his associates in the James Gordon Bennett has arrived in town and " WoiUdyou otherwise reduce the expense of strongest possible tenns, there is an undercun-ent the necessary steps are being taken to seU his real the telephone service ?" of uneasiness "perceptible among some of their estate. Judge Donohue has given the requisite " Would I ?" Mr. Schuyler exclaimed, ener- most inteUigent experts. " It seems to me that order and ex-Pohce Commissioner James Mat­ geticaUy. "Instead of preventing anybody's the United States Company have the telephone," thews has been appointed referee to seU the prop­ owning a telephone, as the BeU Company now said an expert of one of the New York companies erty. By the terms of the elder Bennett's wiU, do, and only leasing them at a fabulous rental, who probably knows more of the questions in­ his son inherited the Herald bmlding as weU as our policy wiU be to seU to everybody, who volved than aU the big-salaried and weU-fed some other parcels, in aU about half of the estate. wants it, a telephone outright. Let anybody figure-heads of the Boston concern put together. He was made the trustee of the rest of the estate who wants to have a telephone own one. For The investors and the pubhc, however, should with instructions to maintain his mother and sis­ $14, the entire apparatus, receiver, transmitter, take neither side's statements. Both are interest­ ter suitably. The mother has since died and the caU-beU and battery can be made, and if I seU it ed parties. They should investigate and judge sister married, and so as to avoid famUy comph- at $50 I am satisfied. The man who now pays an for themselves, and if THE RECORD has enabled cations, the property is to be sold and a proper enormous rental wiU be able to have a telephone them to do so by calling attention to facts partition made of the proceeds. The estate sold which wiU belong to him forever for as much " hitherto unknown, and to. arrive at conclusions is to be divided in ten parcels. It consists of mo ney as he_now pays for a year or two!" 1 justified by their own cautious and thorough ex- fifty acres of land and a mansion on Washington 386 THE REAL ESTATE RECORD April 22,1882

Heights, the houses and lots No. 425 Fifth avenue, About Maj- 1st. woi-k Avill be commenced upou the mto general use in New York. The arrangement of tlie No. 1 East TMrtj--eighth street, No. 11 West erection of a new eight-story Philadelphia brick and private passages render these apartments very desir­ Thii-ty-niiith street, and No. 37 West Twenty-first granite puhlishiug house at Nos. 24 and 26 Vandewater able, and are a feature that is bin i-arely found in street, and the Bennett Building on Nassau street. street. • It will l)e 50xi!3, and co.st. $05,000. Owner, houses of this character. The iDlumbing work Norman L. Munro. Architect, J. Morgan Slade. throughout these houses will bear the closest inspec­ The sale shaU be subject to present tenancies, and 0. Baxter is preparing plans for the erection of tion, every regulation of the Sanitary Board having ."'!) per ceut. of the iJiuchase monej'' can remain ou three flrist class three-story brown stone houses on been carefully observed, while all the material used bond aud mortgage to suit the purchaser. It is the north side of One Hundred aud Thirtieth street, has been of the most durable character. The stair­ said to be Mr. Bennett's intention to buy in the 200 east of Seventh avenue. cases are finished with hardwood to the top floor, and - propertj' and keep it in his O'WTL hands. Iu our issue of April Sth, we gave a description of a are so graduated as to be remarkably easy of ascent. < •» very elegant apartment house that was soon to be In the basements of each house well finished janitor ,. ;^!.^. YONKERS RAPID TRANSIT. erected on the West Side. Vfe can now supplement apartments are provided. NEW YORK, AprU 13th, 158^3. that by stating that the site selected for.this improve­ The chandeliers, which are of a very handsome and ment is the plot of ground on the northwest corner of costly pattern, will be placed iu position in a few Editor of THE REAL ESTATE RECORD: Ninth avenue and Seventy-eighth sti'eet, 100x102.3, days, and will doubtless add greatly to the appear­ I hear that the Yonkers Rapid Transit Com­ which has been purchased by Mr. O'Friel, formerly ance of the apartments. The kitchens being in the pany are offering Iheir franchise fcr sale. It of St. Louis, and that the plans have been drawn by extreme rear or the northerly end of the houses, will was promised that this road would be in running Mr. Emil Gruwe. It is expected that a Sussian render it comparatively easy to heat the entire apart­ order this summer, but not a rail has yet been bath and a safe deposit company will bi established ments iu cold weather. laid. Mauj' persons, myself among the number, in connection v,-ith the apartment house. In the erection of these buildings the greatest atten­ were induced to make investments in realty in Christopher Johnson proposes to erect a row of flat tion has been paid to details, and the whole v.'ork of Yonkers and along the proposed route of this li:;uses on the plot of ground on the south side of One construction h.asbeen carefully and skillfully done by road by the promises held out, that this company Hundred and Fifth street, 175 east of Second avenue, experienced workmen. The lay of the ground is a would soon complete its liue from Yonkers to 75x100. sufiiciKnt guarautt'e tiiat they wiil be perfectly drained. Van Cortland, a distance of about three miles, Tbe plans designed T)y Horace Greeley Knapp for The neighborhood selected for this raaguificeiit im­ and which would give parsons residing in that the building^for the New York State House of Refuge provement is very desirable. On'the'south side of district direct rapid transit to South Perry. The for Women, have been adopted^ The buil-f ing will be erected at Hudson, and will be in the Gothic style. It Ninety-thh'd street, immediately opposite, there is a rapid rise in property to result from quick transit will be four stories high, built of brick with stone trim- handsome row of private brown stone houses, while was ])ictured in glowing terms, but now when we mings, have a slate roof and will be fire proof. Cost. adjoining them, ou the westerly side, a row of have held our property for some years, paying •$1()0,! IX). medium-sized brown stone houses are just beiug com­ taxes and "assessments, we are quietly informed H. Edwards Ficken lias drawn the plans for pleted. that the company proposes to seil its charter, in two cottages in English style, to be erected at Far Messrs. Smith & Ellis will have a majority of these which ease there is no knowing when the long Rockaway, by Mrs. M. B. Smilh. They will be built houses ready for occupancy by May 1st, and the re­ delayed road wili be built. SUBSCRIBER. ou what is known as the Wave Crest property. maining ones will be completed as rapidly as possible. There can be no doubt that they will rent very ».»•*•. The same architect is preparing the designs for the rapidly, as apartments of this character are in great Tlie Gas Commissioners have aw«irded to tbe alteration and decoration of tbe handsome house. No. 21 West Twenty-second street, recently purchased demand this season, and in many cases tenants are United States Electric Light Company and the moving into apartments before they are actually Brush Electric Light Company the contracts for by Mr. Scudder, including a new second story exten sion, and for extensive alterations in Mr. R. D. Hatch's completed. These apartment houses will be offered li^liting tbe loliowing streets and parks during new house, No. 36 'K'^est Seventeenth street. for sale at a very reasonable figure, and will be an ex­ the ensuing yeai-: Tlie Battery and City Hall On May 1st this archiiect will remove his offices to cellent investment, as they are in a locality that is parks, ai;d Madison, Washington aud Union No. 19 West Twenty-second street. rapidly improving and that will ere long bo all built up. Then, again, they are but a stone's tiirow from squares; Broadway from Canal to Thirty-fourth We hear the plans have been prepared for the'erec­ Third avenue, and convenient to surface and rapid street, Fifth avenue from Washington square to tion of thirty-two new houses, west of Central Park, transit. Fourteenth street. Fourteenth street from Fourth but are unable as yet to give further particulars. to Fifth avenue, and Thirty-fourth street from Capitalists will find an investment in such well- Broadway to Fifth avenue. The remaining built apartment iiouses as the " Seward" much more THEiSEWARD APARTMENT HOUSES. desirable than placing their money iu railway stocks streets and avenues will be lighted by the various That there have beeu more apartment houses and bonds that are liable to wide and sudden fluctua­ gas companies. erected iu New York during the past twelve months tions. than in any year of its history ia a fact that is con­ The trustees of the Furniss estate ai'e about to ceded by every one. But of all these there are none ovf^et two six-story bricli; aijartmeut houses at that have been built for the purpose of sale that sur­ KEW YORK REALTir AT ALSA^Y. Nos. 38, 40, 42 and 44 AVe.st Ninth street. The pass tho Seward apartment houses in either exterior [From our Special Correspondent.J fost wiU be -S 128,000. This loolvS like anewde- appearance or interior arrangement, the architect ALBANY, April 20. pui'ture. Imt the location seems weU chosen for a Mr. W. Scott West, having made the designs the sub- Another effort has been made this week to secure a kind of apartment house which would iDrovide jcet of considerable studr. These houses are located favorable report [in the Senate, on the bill ainending on the north side of Ninety-third street, between ac-fommodatioiis for employees of modem means the Spuyten Duyvil & Harlem River improveinenf act, Third and Lexington avenues, a very desirable situa­ so as to enable the bridge across the Harlem at Second iu down-town business establishments. In time tion in many respects, and were built by the. well- tlio entire region west of Broadway and below avenue to be constructed on the grade of the avenue, known firm of Smith & Ellis. The Smith Brothers instead of an elevation of twenty-four feet. It did n<.)t Fourteeiitli street Avill be needed for business are prajtical masons, while Mr. Henry Eliis is au ex­ succeed, and it m now very doubtful if it vrill this ses­ cstabliislnnents, but there ought to be a ready pert carpenter, and they have superintended the sion. rcnital for bouses such as those de.signed by Mrs. construction of these houses, and givea them the A bill introduced tins week in the Assembly, by Ivli-. benefit to be derived from their long experience. Furniss. Murphy, to reduce the width of Trinity avenue. N<'\v From the street, the Seward presents a most at­ York, was to-day reported from the