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April 11, 1886
The Record and Guide.
THE Rf05D AND GUIDE,
of their being captured or injured by a foreign power. There are
many questions which should be settled by an American Congress
in the event of war and with which the executive alone could not
very well deal. Matters nearer home, such as the Central American
imbroglio and the Kiel insurrection, may demand legislative action.
ONE TEAR, in adrance, SIX DOLLARS.
Communications should be addressed to
C. W. SWEET, 191 Broadway.
J. T. LINDSEY, Business Manager.
APRIL 11, 1885.
NEW TORE CITY.
Salrs of the Week.
Assignments of Mortgages.
Satisfied Mechanics' Liens.
Alterations of Buildings.
AU General News about Heal Estate and
Proceedings ot Board of Aldermen and
Board of Asgessoi-s Affecting Real
Saaiing material Market and QuotaÂ¬
Westchester Co. Conreyances.
Assignments of Mortgages.
Satisfied Mechanics' Liens.
Alterations of Buildings.
Lis Pendens. .."^
All General New.^.
Essex and Budsom Co.
The coming will be an important week in real estate circles. It
will witness the formal opening of the Real Estate Exchange and
Auction Room (Limited), an event which wUl mark an epoch in
real estate deaUng in this city and, indeed, in the coimtry. HereÂ¬
after New York realty will have its recognized organ in this
E-T-ban^e. and its i.Â»?teiests will be car"ed for'even iaore thoroughly
than are those of stocks, cotton or grain, for the exchaiigt^t? which
represent these interests are merely business concerns where trad-
ng can be carried on and regular commission rates are recognized.
The new Real Estate Exchange will do more than this, for its aim
is to reform defective laws affecting real estate and to throw its
influence on the side of economical local government.
So far the laws have borne heavily on real estate. Dealers and
owners are taxed heavy costs for buying or selling it. They are
forced to pay title searchers and lawyers large sums, and to bear
burdens not demanded in the purchase and sale of any other comÂ¬
modity. Then the trade has been in confusion because there has been
no established organ to fix commissions. Hence there has been cutÂ¬
ting and litigation, rendering the business uncertain and insecure
The new Exchange once established will evolve order out of chaos.
The opening ceremonies of next Tuesday will be purely of a busiÂ¬
There was some reaction in the market yesterday, as war between
Great Britain and Russia did not seem bo certain as it did on the
day before. But the fact remains that hostilities have taken place,
and blood has been shed and the military authorities on both sides
are anxious to try conclusions in the field. Events are more powÂ¬
erful that kings and cabinets. A collision in Central Asia was
certain to occur sooner or later. In all human probability the great
duel will begin this spring. It may result in the settlement of tbe
burning Eastern question, and wUl most probably involve in time a
general European war.
Should there be a conflict of arms in the Old World it will unÂ¬
doubtedly advantage American interests m the way pointed out by
" Sir Oracle." The cotton industry will be the only one that will
suffer, but the manufacturing and grain and cattle growing states
will reap a rich harvest if the great powers of Europe become
engaged in war.
Should the news continue warlike a demand ought to be made on
President Cleveland to call an extra session of Congress. There is
always danger of our becoming entangled in any general foreign
conflict. Our coasts are unprotected and our cities are at the
mercy of any naval force. We should not run the tremendous risk
Rebuilding New York.
-*Â«on been called from time to time to changes taking
.IT :L.;j->pai-!i... ,^jQjjg Qf jj^jg igiand. In no city in tlia
place m tbe old settled p..raotK. ,^^ ^^^^^^^ ^j ^j^^ -^^^^^^ ^^^^^ ^,
world 18 population so dense as in ;X>"..,tij,^ ^^ jj^^ ^^^^^^ ^^^ j^
the Central Park. The increase of popm'.l' structure is designed to
becommg greater every year, for every new ^ Hgnce we find our
accommodate a large number of occupants. ISets gorged with
sidewalks are becoming more crowded and our str>r. ^f ^be city is
vehicles. The problem of accommodating thetrflriy.
already a serious one and getting to be more so j The island below
The work of rebuilding goes on continuously. .^ of stately busi-
the City Hall Park is steadily increasing,,;reer-'Onion Square and
ness structures. Fourteenth 8trÂ§j,letely reconstructed during the
Sixth avenue, has bee^^^^-f j.^^ pnvate dwellings to great stores
past SIX years. Th|:Qgj.ggg j^ Twenty-third street; also in Fifth
IS making stea^'jjj^^jjgjjjj gqyjjj.g^jjjpoj.jy.gggp^jgjj.ggj. We havo
"ue, 6^fgfj.g(i to the Bowery and the improvements there
^ way. That greatest of east side thoroughfares is
"Reined to be rebuilt from Chatham square to Cooper Union
nefore the close ot the present century. Already the new
stores on the site of the "VS'indsor Theatre and those on the
corners of Grand and Houston streets have made changes ia
the appearance of this, our oldest of business streets. Its future
value will be far greater than its past enhancement in rentals. The
old dry goods district has not progressed much for the last two
years, but with a revival in business the Fifth and Eighth Wards
wUl be speedily covered with stores and warehouses. The manuÂ¬
facturing quarters of New York show some remarkable changes for
the better. This will become evident by a visit to the region east
of the Bowery. The Sixth and Fourteenth Wards are also rapidly
changing their character. The " Five Points" as a resort for
thieves and prostitutes is now a tradition, and a visit to Centre and
Grand streets will show quite a change for the betier in the way of
edifices designed for manufacturing establishments. Then there is
a constant rebuilding and alteration going on along the avenues,
especially these traversed by the â€¢' L" roads. In point of fact New
York is shedding its own skin and adorning itself with a new outÂ¬
side covering, which in time wiU make it a very different and a
much finer place in which to live and do business.
What Makes The Bad Times.
The Sun discusses this question in an article which was evidently
inspired by an editorial entitled " World Wide" in the Recokd and
Guide of last week. The Sun goes over the same ground and adÂ¬
mits that the depression whicli exists every where is not due to wars,
pestilence or famine. Nor can it find that forms ot government nor
fiscal systems, such as free trade or protection, is the cause of the
business woes of every nation under the sun. Of one thing the
editor of the Sun is very sure. Money is abundant, the bank vaults
are full of unused cash, so his conclusion is that over-produ- tion
is the source of all our woes. Great Britain, for iustance, has built
too many steamersâ€”more than the depressed commerce of the
world cau make use of, while the United States has constructed too
many raUroads; that is, more than can be profitably employed whUe
the times continue hard. But an excels of steamships and railway
lines will not account for the depression in business which obtains
in South America, Africa and Asia as well as the continent of
Europe; and then the theory of over-production breaks down thorÂ¬
oughly in view of the myriads of human beings who are shoelei-s,
hungry and half naked in this world of comparative plenty. The
Sun, pointing to the pUed-up treasures in the banks, says: See, there
are lots of money, more than business can make use of; butthe hunÂ¬
dreds of thousands of idle workingmen say, Yes, but I have not got
any of it; I am wUling to work at reduced wages but I cannot find
employment; and in every department of business the cry is the
same: we have not the where-withal to buy with.
Notwithstanding the pUed-up stores in the banks and the low
rate of interest, may it not be after all that there is not enough real
money to insure steadiness or an advance in prices ? The work of
the world is stopped because no one wishes to produce or buy on a
fnlling market. Formerly the two precious metals co-operated in
measuring prices, and every addition to the volume of the curÂ¬
rency from any source cheapened money which showed itself in an
advance in prices. It is this wliich stimulates business. People
who produce or work do it to make a profit. If their enterprises
are certain to result in a loss tliey stop production. When the
work of the world is checked, labor is unemployed and consumpÂ¬
tion is reduced to a minimum, and then the waiehouses of the
world are filled with goods because the people are without money