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Real estate record and builders' guide: v. 53, no. 1356: March 10, 1894

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March 10,1891 Record and Guide. 365 Dented to F^E^L EsTME.BllLDlfi'G ^R.crflTEeTUnE.Ko^SEKOU>DEGQF^T10rf, Bt/sif/ESs Aifo Themes oFGEfJERAL Il/Tt[\Esi. PRICE, PER YEAR IN ADVANCE, SIX DOLLARS. Published every '•i'2 W.V.SHINGION STHEET, Opp. Post Office. " Kntereil al the Postoffiee at Xew York, A'. Y., as second-class matter,' YOL. LID. MARCH 10, 189-1. No. 1,356 THE .stock iiiiU'ket coiitain.s wore sigus of wholesome impi'ove- jiieiit tliiiii liiive bcMi seen in it for some time. Tliis is apart irom the \\ ilil movements of .Suitsar, because it will not liave e.seajied notice that wliile the jreneral market rose wheu that erratic star ot the specnltitive tinnameut rose it made uo piopoi'tionate decline when it fell. Moreover, there h.-is in the Inst week been ver.v j;ood luiviiif; of lailroad bonds, which is iilways a, favorable indication. Wliile .''^ugar occupies most attention the more impoitant fact i.s the strength of the rest of the list. .Another fact that was, not uniiattiiall.v. favoi'iibly regaitled wtis that there wei'e no orders for gold to go out on to-day's steamers. Exchiinge was so near the shipping point that shipments wei'e thought to be inevitable when the da.v tor making remittances came, [f this turning biick of gold as it may be called is due to a change of opinion in Eurojie ou the value of loans on this side it will have a ver.x important beariii.i; on the prices of securities lieic In gcneial business there is also imiirovenient in a small way. but not enough to wariaiif any lio]ic of very niaiked change until if is clearl.v seen what loini the Wilsmi tarillbill is to liiiaM.\ take it it is to be passed al all. THE re])oits from European tinancial and <'oiiimercial centres are meagre in detail, and do not contain iinyfhing that would .idve the imiiression that the small measure of improve¬ ment lecorded last week liatl been lost, or that an.vthing had occurred fo desfrtiy the hope that that iiiiprovemeut is only a beginning of a betteicondition that is to last for some time. ,\ curious (inestion has aiiseii in London, that of the right of a broker to use as collater.d securities. ]nesuinably paid fcir. left with hiill b.v his ciistoniers. The London .Stock Exchange has repudiated any sym)iathy «ith such a ]iiactice. and declared that any menibei' found .uiiilt,\ of il would be evpwlled. Xotwitli- stauding a plethora of iiioiie.\ in London and the better tone to business there, there is a]iiiaiently no general desire to bu.v .Americans, for which we have to thank onr ciineiicv theorists in Cougiess. The Ereiich rhaniber of Deputies has agreed to increase the dut.v on wheat about 40 per cent, and pending the discussion of this (]uestion the records of the imports have not beeu publi.shed, in ordei-. ]ii'obably. thaJ the public may not know how Parliament is helping a gigantic sjiecu- lation in imported wheat. The customs treaty with Russia is ^till the great tojiic of discus.sion in (ierinaii.y and the guiding princijile in the niovemeiit of stocks and the I'lospecfs for business. So far the signs ai'e for an ultimate apjnoval of the treaty in the Reichstag, and, as a consc- ■ quence, while business is ver.v sbiw, juices are strong. In A'ienna bank and indnsftial stocks have giiinediu price, though railroads do not share fhe advani'c. There are more signs that lludapest is in an aih anced stale of 1.....in, and no moneyed cen're is more cxxjectant of a coti.sei)Uent collajise than is A'ieiina ; therefore, the colia)ise, when it does ciimc, b.v reason of ihe waiiiing that has been given and the ]ireparatioiis that have been made to meet it, will iiiobahl.\ be local in ils ett'ects. The goverument will purchase the new docks opened iu Trieste iu lytH. The Italian Minisfei' of Eiiiance has made public figures sho^-ing that for years deficiencies have been concealed, that the.v have grown to about ."i*:!."!,!UMl,001 (for last, year aud that the treasury has iu consei|iu'Uce a floating debt of .'filOO.OOO.Ofio. Ever.v kiud of eft'ort is to be made to meet this and provide for future needs, reiluction of interest on the |iublic debt, income tax, etc., and some recourse to the printing press. The Argentine gov¬ erument has dei'ideil oil large eiiconoinies and the ett'ect has been good on its securities abroad. almost uuiversiilly done the one thing that wiis wise iiud prudent during tlie season of jirolonged business depression through which the cotintry has passed. Tliey have held to their proper¬ ties and maintiiiued values, though the ricissltuiles of the last eight months have reii'jired some sacrifices and the teniiitations and alarms iit criticid moments made necessary large drafts upon Iheir reserve strength. Tliere is every reason to believe that the tide has turned: that the worst is altogether past, and that every coming day will biing improvement to all the conditions that govern the market. ihe renting season in the dry-goods district was a poor one, but it is past. In the oflice district brokers without excep¬ tion report a satisfiictory demand, and in all the residence quarters the demand is fidly up to expectations for this season of the year. .Many report that the deniiind for small houses at from .'i^'.lOO to )j.0iM» people to the square mile, while Chicago, the next most densely populated city in this country, contains less th;iu 7,500. But cou.solidation is oneof the events of the not distant future, and the nijin who will not live in apartments may have a home all to liiin.stdf in Brooklyn orStiileii Island, or Flushing or Westchester, if he chooses, aud still be a citizen of New York City. .\s our Gossip columns show, the house-buying sea.sou hiis begun, iind many a builder who has with dismay seen the ]irolits fnim pit.st iirodiictirm vaiiLsh into thin air, wliile interest and taxes be.gan to'etit into his sur¬ plus, now breathes in relief iind new hope. It will be only in I'onfiirniiry with the haditionsof the market for things to imiuove riipidl.\ rnini this on fill the 1st of Mi\y, and td continue with giadiiiilly dimiiiishing activity from then to about the 1st of Seidcniiiir. w hen file fall sinsoii will begin, i'or investment properlies. lliere are jilenty of liuyers ami plenty of mouey, but owners do not care to piirf with siidi property, except iit fancy lU'ices. Ill times like these they would natniiilly think tmce about jiartiiig witli such iiroperty until an eqiiidly good invest¬ ment could be shown them. The auction niiirket has beguu to .show indications of the life which chaiiicterized it ii .year ago. It is long since so large a crowd hits attended au auction sale as faced Mr. I'eter F. .Me.ver at the partition sale of fifteen piircels, on Wediiesdii.v, aud iilthough there was nothing startling-iu the prices obtained, neither was there anything to cheek the pros¬ pect of a revival of auction sales. WU.VT if lirooklyn, Stiiteu Island and ijuecns County decide to cast their lot with New York? Tliis raises a question of luobiibly greater material interest to New York thau it does to either of the outlying districts which it is proposed to consolidate with New York, It concerns Brooklyu coni]iarativelv little. It may stimulate the .growth of Kings County in a slight degree; but the future of that section is assured li.v its close proximity to New York, and the facility of communication between the two cities, and no very startling materiid changes for Brooklyn Ciin follow immediately. But wiiaf will lie the effect of consolidation on New York ,' The cit.v has a lociil policy which it lias been jiursuing ardentl.v, if not urgently, during niiiiiy .veins. This ptdic.v is inauifested in .schemes for rapid tiaiisit, new parks, new boulevards, new sewers, aud uew Harlem River ini]iiovenieiits. All thin.Ks have been tending towards ]ironioting the interests of the North End or of the North Side, as the people be.yond the llitrlem like best to call their section. How long would this polie.y be continued after consolidatliiu bicaine an accomplished fact? Would the nearlv two hundred thousand voters in Kings, Queens and Kiehmond Counties feel much interest iu the North .Side? A^'(ulld thev vote for rapid tran.sit northward, ^^ere the decision ]diiced under tlieir control 'I Or would the.v ^'ote to expend money for the embellishment of new parks which tlie.v never saw and hardly ever expect to see'? But ne must bring these questions to ii liei'iod, or we slndl exhaust the interro.gatiou jioinls. Lociilities are best served )).v lociil iiolitical control. But it is a very hard thing to prevent men from constructing a ]ii.tr city when tliey see the material lying iiround loo.se. Tlieieaii])eais to be something bewildering or at the least dazzling to tlie averiige man in the idea of a big city, aud if it is so big that he has to jiiiich himself sometimes to make .sure of his ]>ersonal ideiifily he feels that his own obscurity casts no reflection ou the grandeur of his estate. ^^PRlNf J has brmight a perceptible increase of activity to the *-^ ieal estate market. Of strength, no increase was uece.ssary or desirable. The holders of New York City real estate have IF consolidation over the seveiid hundred square miles of ter¬ ritory which are to make up the future metropolis must come, a consummation for which we confess we liave not labored, it should bo ti uew kind of cou.solidation, something