Please note: this text may be incomplete. For more information about this OCR, view About OCR text.
Record and Guide.
^ ESTABUSHED-^ /HWPH 21"^ 1868. '^
"Oe/oteO to RfKl Estate . BuiLoiffc A;p,crfiTECTai^E .Household DEOOf^norl.
BU5it/ESS Atto Themes- of GeSei^L I;<tÂ£i\esi
PRICE, PER Â¥EAR K ADTAIVCE, SIX DOLLARS.
Published every Saturday.
fELEPHOSB .... Cortlandt 1370.
Communications should be addressed to '
C. W. SWEET, H (St i6 Vesey St.
J. I, LINDSEY, Business Manager.
Vol. XLVIII SEPTEMBER 13, 1891.
Next week there will be issued with tlie regular edition of The
Record and Guide a handsome eupplement, illustrating and
describing the growing suburban section traversed by the New
York & Northern Railroad. Newsdealers and others desiring
extra copies should send in their orders at once.
THE EXHIBITION OF ARCHITECTURAL DRAWINGS.
One of the handsomest and most complete displays of architectÂ¬
ural drawings will be opened next week in the exhibition halls of
The Record and Guide, at Nos. 14-16 Vesey street, to which all
who are interested in architecture are cordially invited. The exhiÂ¬
bition is free. There are on view over two hundred perspectives of
the latest work done by all the leading architects of New York City.
So excellent an opportunity for any one io familiarize himself with
the best icork of the day has not before been offered,
ATTEMPTS to put up the stock market are for tbe moment no
more successful than those to put it down. For almost a
whole week it has maintained a waiting attitude with a movement
here and there of a stock to equalize the advance and some slight
concessions in those that advanced most; but in spite of heavy proÂ¬
fessional selling no general dovrnward movement could be forced.
Yesterday's attempt to rush prices up on the Government crop
report was equally ineffective, for as soon as the first buying moveÂ¬
ment was over prices dropped to the figures of the previous day or
two. There seems to be, as far as there can be an organized effort
iin a large market like the present, a general determination to await
results in the grain regions and on trunk line issues. Southwestern
securities are least in favor, the condition of cotton telling against
them, and it may come that with the corn crop as assured as wheat
now is, there will be a decided discrimination against them to favor
the grangers and Eastem trunk lines. Gold imports promised to
immediately become a larger bull factor.
THE English stock market is somewhat livelier and stronger;
but all the activity and strength is concentrated in the AmerÂ¬
ican department. The other classes of securities do not find favor,
and with reason. It is t^nie that the flnancial position is now more
-satisfactory, and indications maybe found of increasing confidence
'on the part of tbe public ; but these facts alone are not considered
^sufficient. So far as English railway stocks are concerned there do
mot seem to be many inducements for purchasing. Harvest pro-
>(lucts are unsatisfactory, trade is stagnant, and money is bound to
become dearer. Furthermore the traffic returns are disappointing ;
and although the companies are paying less for their coal than they
were a year ago, their wages bill is heavier. Neither are foreign
issues in favor. The Continent will also suffer from a deficient
harvest, and this cannot fail detrimentally to affect the flnancial
position. In addition, prices in many cases stand at a high level,
and large quantities of stock are being financed which the holders
would take advantage cf any buying to turn into cash. About the
only kind of properties which it is expected will be in a position to
compete with the American securities for the favor of the British
public are certain outlying industrial investments of good characÂ¬
ter which have suffered from the general fall in values. European
economists are beginning gravely to consider the effects of the
'Cereal shortage on the laboring population. The increased price of
!such a prime necessity as bread will, it is feared, cause a widespread
:and active discontentâ€”^particularly in those Continental countries
"where the struggle for existence is already severe and trying. The
first of next May will not pass with as little disturbance as the flrst
of last May. In Russia, of course, the effects of the bad harvests
will be most disastrous ; but apparently that country will escape,
owing to the submissive nature of its population, any open revolt,
What will be equally bad, however, large numbers of the peasantry
will have nothing to sow with when seeding time comes around.
THE verdict rendered by the Coroner's jury iu the case of the
Taylor building disaster verifies the correctness of our opinion
given before tbe jury entered upon their investigation, when we
said that tfa^ cause for the accident would never be accurately
known, as death has sealed tbe lips of those wbo could have told
just what happened inside the building at the moment of collapsi>.
The jury say they are unable to determine the cause of the shock
which, after the death of the principal eye-witne;ses, is not obtainÂ¬
able. The jury definitely find that the timbers and walls of the
building were of fairly good material and construction, but that
the iron columns were not as strong and as well constructed as
they should have been, and that the fall of the building was due to
" the breaking of one or more of the columns in or near the middle
of the ground floor," by reason of some sudden shock applied to
the exterior of the columns. Nothing is said in the verdict of the
overloading of the floors, nor is any reference made to the destructÂ¬
ive vibratory motion of the heavy steam presses tbat were located
on tbe two upper stories.
THE verdict does not explicitly state whether the columns that
the jurors believed to have been broken by shock were
interior or exterior columns. On the ground floor (that is, the
first story) tbere were three interior columns of cast iron, 9 inches
in diameter and over an inch in thickness. Each column had to
support a floor area of 16 by 16 feet for each of tbe four floors above
and the roof in addition. By allowing a safe weight of 200 pounds
per square foot on each floor, which is what the testimony showed
was all that the floor timbers and girders could safely carry, each
flrst story interior column had to support say 160 tons, Tbis is
about what such a column can safely carry, being only one-fifth of
its ultimate crushing strength. Right here comes up an amazing
oversight in presenting all the facts to the jury. Each of these
columns rested on a brick pier only 24 by 20 inches square, or a
sectional area of three and one-third superficial feet. The proper
load to apply to a brick pier laid up in cement mortar is twelve
tons per superficial foot. Thus, such a pier ought not to have had
placed upon it more than 40 tons, which is only one-
fourth of the safe load that tbe irou column immediately
above it could carry. V/hat the column could safely support
would be the crushing load for the pier. The westerly
brickpier was entirely destroyed by the collapse; and it so happens
that this pier was at the very place where an explosion of some
sort is alleged to have taken place. With the great weight resting
upon that column to hold it rigidly in its upright position it would
have required a terrific concussion of air to bave overthrown it.
If the verdict has reference to one of the exterior cast-iron box
columns, the same reasom'ng applies for the application of a terrific
force to everthrow any one of them, for upon them rested the brick
wall of the front together with one-fourth of all the floors and conÂ¬
tents of the building. Between each of the box columns were the ordiÂ¬
nary wooden entrance doors with glass panels in same and fan-lights
overhead. Most of the doors probably stood open, as tbe day was
very warm. An explosion with force enough to break or even
throw out of place one of those iron columns would have driven the
entrance doors across the street. In the crush iron columns and alt
other kinds of materials werebroken. The verdict leaves the quesÂ¬
tion of what caused the collapse as open to opinions as before the
jmry undertook to solve tbe cause. The jury recommends that the
Governor of the State call attention in bis next armuaL message
to the Legislature to the need of amendments to the building law.
The jury also expressed their appreciation of the management and
action of the Fire Department and its bureaus, both brfore and
after tbis most lamentable disaster. In a future issue we sball refer
more at length to the matters recommended by the Coroner's jury.
THE Board of Park Commissioners have acted rightly in denying
the application of the New York Central & Hudson River
Railroad Company for the closing of the drawbridges during certain
hours of the morning and afternoon. The corporations, with their
terminus at the Grand Central Depot, have never until lately been
very solicitous of the comfort and convenience of their local traffic
above the Harlem, If, despite their indifference, a considerable
daily movement in and out of New York has been built up it will
do them no barm to be placed in the position of being forced to
make proper provision for it. Tlie concession which they have
asked for would encourage them in the procrastinating policy
which they have pursued in the past. As the Park Commissioners
point out, it would not be wise to take any step towards obstructÂ¬
ing the navigation of a river which tbe national government is
spending large sums of money on to improve. It is the Central
that must raise its bridge, and so assume the burden of its own
traffic instead of endeavoring to make the river trade interests pay
part of the expenses. The Legislature can be pursuaded to grant
the necessary authority to change the grade of the approaches, and