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Real Estate Record
AND BUILDERS^ GUIDE.
NEW TOEK, SATURDAY, OCTOBEE 30, 1880.
Published Weekly by
â¬^t %ml Estate Mitaxh %BBamiian.
ONE YEAR, in advance....SIO.OO.
Communications should be addressed to
C. W. Si;VBET,
No. 137 Broadway
TO OUR BANK PRESIDENTS.
You are, almost every hour of the day,
visited by capitalists anxious to obtain your
views as to good investments. In every
instance your advice is to purchase railroad
securities and other commodities, which
abound in and around Wall street. In nine
cases out of ten your advice is followed, but
in how many cases are your ideas cursed
with all the expletives that the Anglo-Saxon
language patronizes ?
If you will be good enough to place a copy
of The Real Estate Record, subscription
price ten dollars, payable in advance (even
by bank presidents), on your desks and study
its contents from week to week, you will not
only be better citizens of this enterprising-
metropolis, but you will guide men of inferiÂ¬
or intelligence into the proper channels of
There is nothing in this entire market so
cheap at present prices as real estate.
Why don't you tell your customers to buy
it ? Show them the pages of The Real
Estate Record open on your desk, and you
can tell them where and what to purchase.
Whatever you now offer them in the shape
of securities has gone up at a terrific rate
during the past twelve-month, while real
estate has not.
You now tell your custoaaers that you do
not know anything about real estate, that
you do not even own the building in which
you transact your business; that you cannot
loan on real estateâbut are these valid
reasons why you should not inform your cus
tomers, that, for purposes of investment, reaj
estate in New York City and suburbs is the
very cheapest of all commodities, that it has
not risen with the tide of prosperity as yet,
and that the time is now very near at
hand when a judicious investment in real
property, instead of fancy property, will give
pecuniary returns far more satisfactory and
productive of less worry, more sleep and
better digestion than any of the Wall street
articles you now offer them.
Show them The Real Estate Record, and
your own consciences as well as your cusÂ¬
tomers' pockets wiil be highly benefited.
-â:-----<â¢>â----:â ' . ' -- .
It really takes one's breath away to read
the statistics as they reach us from tim^e to
time from the Census Bureau. Here is our
good sister City ol: Brooklyn, which only a
few years ago used to be called New York's
bedroom, with a population of 566,689, and
the entire State of Rhode Island with only
Further comment is unnecessary. Great
is Brooklyn, but how much greater the EmÂ¬
pire State of New York, of wLich it after all
only forms an integral part. Who, after all,
can predict at this rate of growth, the future
grandeur of our own unparalleled State, with
its financial power, its increasing trade, its
unrivalled commerce and its indomitable enÂ¬
It strikes us that even the veriest Hoosier
of the great West feels his heart swell with
pride when contemplating the picture preÂ¬
sented by this State of States.
THE SELECTION OF THE SITE.
To-day, or on Monday, the Committee on
Sites, appointed by the temporary Board of
Officers of the World's Fair, will discuss, in
the presence of several interested parties,
the merits of the various sites visited by
them during the past few weeks. We purÂ¬
posely make this public announcement, as
the Committee themselves have as yet failed
to do so.
It is important, even at these initiatory
proceedings, that not only owners of real
estat*;, but also the railroad magnates and
leading hotel-keepers should be consulted.
No World's Fair can be a flnancial success
unless a combination of interest presents itÂ¬
self to the minds of those who will profit by
the increased amount of travel and the large
influx of strangers in our midst.
The representatives of the various trunk
lines, as well as the managers of the city and
suburban rapid transit and surface roads, and
the proprietors of the leadinohotels and places
of amusements, should all be consulted, as the
views of such men, in regard to the practicaÂ¬
bility of moving and accommodating large
bodies of visitors, are worth listening to before
the subscription books are opened on Nov. 10.
As to the real estate interest, we should like
to see invitations extended to the Astors, the
Rhinelanders, the Lorillards, Hamilton Fish
and the like, all representing vast estates
that have no particular axes to grind, or speÂ¬
cial localities to favor, and yet whose ideas,
in regard to the general advantages derived
from the selection of any special site, will be
of inflnite value and guidance to the ComÂ¬
Of course, it is vsrell understood that any
decision arrived at for the present must be
ratifled by the permanent Commission when
organized after the closing of the subscripÂ¬
tion books; nevertheless, all precedents in
such matters teach us that the action of
those who have been temporarily engaged in
the preliminary work is generally approved
by those who come in at the last moment,
when time, which moves quickly, does not
permit any further delays.
POINTS ABOUT THE STOCK MARKET.
Knowing ones say that Jay Gould has
fixed things with the Ijidian tribes in the
Indian Territory. The Creeks, Cherokeea
and other semi-civilized tribes have, it is
hinted, agreed to withdraw all opposition to
tlie opening of the Territory. The large
allotments of land now held by the tribes
would, in that event, become marketable;
and the Indians would become enriched. It
should be remembered that these partly civÂ¬
ilized Indians are controlled mainly by the
half-breeds ; and these latter appreciate the
advantages of wealth. The railroad comÂ¬
panies have, ifc is said, come to an underÂ¬
standing with the Indian leaders, and the
Territory will soon be thrown open. Hence
there isi a great deal of quiet buying of M.,
K. & T. and St. Louis & San Francisco.
A deal is on foot in Central Pacific. These
were marketed a year ago at 85, and are now
selling under 75. They pay six per cent.,
that is, eight per cent, on the present price.
Central Iowa is on the cards for a big adÂ¬
vance. So is C, C. & I. C, as the decision
of the Supreme Court will soon be rendered,
in which will be affirmed the liability of the
Pennsylvania road for these bonds.
Green Mountain mining stock, to which
we have often referred as a good property,
has made a large advance during the past
week, and may go much higher.
Ontario & Western, it is claimed, is about
to have that long promised deal. People are
afraid of this stock, beeause of deceptive
points given ou!. from time to time, but
Woerishoffer, Traske & Francis, Sam. Tilden
and several other large concerns are said to
be large holders of this stock, at pretty high
While it is gratifying to note the avidity
with which investors took up our city bonds,
it should be remembered that half the money
came from Europe. As the bonds are exÂ¬
empt frora local taxation, they are a good
security to have in the house. But governÂ¬
ment's are better, as they are exempt from
all taxation. The local taxation makes a
difference of nearly one per cent, on the
face value of the bonds.
The rise in Chicago & Alton was not unexÂ¬
pected. The road runs through a profitable
country, and its local business is unaffected
by railway wars. The present stock, it is
supposed, will some time be worth 200.
The cheapness of money, .it is now settled,
is due to large trajisfers of European capital
to New York City. Judguig from the im-