Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: v. 26, no. 661: November 13, 1880

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Estate Record AND BUILDERS' GUIDE. Vol. XXYI. NEW YORK, SATURDAY, NOVEMBER 13, 1880. No. 661. Published Weekly by TERMS. ONK YBAR, in advance....$10.00. (Communications should be addressed to C. W. S\(rSKT, No. 137 Broadway NOW SECURE GRANT. Ex-President U. S. Grant having become a permanent resident of this city, by taking possession of an elegant mansion in Fifty- second street, between Fifth and Madison avenues, ought now to be prevailed upon at once to take charge of the World's Fair to be held in our midst in 1883. There can be no excuse now that he is mixed up with political affairs, and we doubt very much if he will ever lend his name to any mining or other speculative entei-prise, where stockholders only can be benefited by having this illustrious citizen at the head of their respective speculations. The International Exhibition to be held in this city, however, will, if successful, reflect great credit upon the people of the entire country, South as well as North, West as well as East, and the very fact that the name of the first citizen of the Republic is at the head of the World's Fair will secure that success. Time will prove the great wisdom of this selection, and the appointment of General Grant, as President of the International Ex¬ hibition of 1883, will at once stamp it with the badge of "Excelsior." —-^>>----------- NEW YORK'S GROWTH IN A QUARTER OF A CENTURY. It has been said by one of our leading political economists, that " there is no man living who can at all imagine the future grandeur of these United States, and that his very imagination would fall short of tbj actual facts, if our lives only lasted long enough to witness them." It is not our pur¬ pose at all to dilate upon these prognostica¬ tions. On the contrary, we prefer to adhere to facts as they come under our observation, lay them in their bare nakedness before our readers and subscribers and let them draw their own conclusions therefrom. We are led to these remarks by a casual glance we had the other day, at a New York lot book,-of the -year 1854;' This is only a ittle more than a quarter of a century ago. At that time there was a large quantity of vacant lots, and an immense number of frame dwellings on the streets crossing from Sixth to Eighth avenues, between Twenty- third and Twenty-seventh streets. On the block bounded by Twenty-sixth and Twenty- seventh streets, and Seventh and Eighth avenues, there were, at that time, only twenty-seven buildings on sixty-four lots. There were hardly any buildings west of Eighth avenue between Twenty-second and Twenty-seventh streets. The block bounded by Twenty-seventh and Twenty-eighth streets, and Sixth and Seventh avenues, con¬ tained exactly fifteen brick buildings on sixty-four lots. The vicinity of Thirty- fourth street and Sixth avenue was about one third improved. In fact, the space be¬ low Twenty-third street, from river to river, then vacant, was sufficiently large to take in all the buildings then existing above Twenty-third street. In 1854 there were only eighty-eighth buildings on Fifth avenue above Twenty-third street, and fiffcy-four buildings on Madison avenue. Now let us remember that during this period, from 1854 to 1880, we have passed through a bloody civil war, unprectdented as tn destruction of values, and two panics, one in 1857 and one in 1873. And yet here stands New York City to-day, risen from a second to a first-class city of the habitable globe. The city is built up solidly from river to river as far as Fifty-ninth street, and on the east side of the Central Park the vacant property below One Hund¬ red and Tenth street would not be more than sufficient to take in the houses already erected in Harlem. Practically considered,' New York is built up solidly to-day to Fifty- ninth street, and on the East Side as far as One Hundred and Tenth street. This, of course, leaves out of considetation all the houses in the annexed district beyond the Harlem River. While now with rapid transit we can reach Harlem in less time than it used to take us to go from the Batteiy to Twenty-third street, it must not be forgotten that, during all the period above mentioned we were, owing to the absence of rapid transit, forcing people out continually to New Jersey and other suburban districts. Look at tho picture presented by Manhat¬ tan i Island to-day, in the face of all the un¬ toward circumstances and events that have surrounded us during the past quarter of a century, and is there, indeed, any one living " who can at all imagine the future grandeur of this American metropolis?" And in conclusion, let us remind those who have no faith in every word said herewith, that there are persons to-day living, who distinctly reinemher that to one of the Lutheran churches, was offered, about six acres near the head of Canal street and Broadway, but the trustees declined to take it because, as they said, " it would not pay to fence it in." Let this lesson engraft itself upon the minds of investors, before it is too late. The time may come, even in their life time, that not a single foot of ground can be ob¬ tained on Manhattan Island, even at prices now considered extravagant. FINANCIAL HINTS AND POINTS. That C, C. & I. C, is likely to have a rise, if the court decides against the Pennsylvania road. That Missouri, Kansas & Texas stock is a very good thing to have in the house, in view of the surrender of the road by the receiver to the company and the building of the line to Mexico. That Rome, Watertown & Ogdensburg bonds are a purchase, as the unpaid coupons are to be funded. That Chicago & Alton is a dangerous jitock to hold at present prices, some of the directors having already sold out. The advance was engineered by a young specu¬ lator who put the price up on general princi¬ ples, without special knowledge. That the Omaha stocks" will have a rise when the insiders in Northwest get ready. That Calaveras mining stock may take 'a jump any day. That Gold Stripe when put on the market may be worth buying. That no one can make a mistake who buys unimproved property at current rates on the upper part of this island or in the Twentv- third and Twenty-fourth Wards. That the market for miscellaneous stocks is a good thing to leave alone until the speculative tide sets more steadily, either up or down. That Erie wiU, some time during the coming year have a very great rise, its business being better than ever before in its history. With its present income Erie could pay six per cent, on the preferred, and three per cent, on the common ; and would do so this year were it not for the need of money to make permanent improvements, which will eventually be of great benefit to the stock. That the shorts in Western Union may get hurt some fine day. That New York Central cannot be kept down much longer; it being the cheapest in¬ vestment stock on the list. That this is a "special" market, every few I days bringing out new combinations and a fresh deal which helps to keep up the whole list of prices.