Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: v. 55, no. 1404: February 9, 1895

Text version:

robniflTTM893 Record and Guide. 301 wMimii. ESTABUSHED-^ iiyWpH BV^ 186B, Dr^ifi) 10 RpAj. Estate . BuiLoif/o A|i,crfiTECTUi^ >{ousehold DESfflifTnt, Basnkss m(d Themes or Ge^ei^I. 1i^te(i,est . PRICE, PER YEAR IN ADVANCE, SIX DOLLARS. Published every Saturday. TBLBPaONB,......OOBTLANnr 1370 Oommnn 1 cations should be addr:Baed to C. W. SWEET, 14-16 Vesey Street, J. 1. LINDSEY. Businesa Manager. Brookltn Opficb, 276-282 Washington Street, Off, Post Offios. 'Enlertd al the Post-office at New York, If. T., as second-class matter." Vol. LV. rEBRUARY 9, 1895. No. 1,404 For additional Brooklyn matter, see BrooMyn Dejaartnietit immediateli folloteing Kew Jersey records {page 230 . /CONGRESS haviug refused to assist it the Administration is ^-^ thi'own upon its own resources tomaintaiu a sufficient gold reserve. These resources seem to consist entirely of issuing bonds for gold. But for the fact that the revenues of the gov- erumeut are in escess of disbursements this would aft'ord very little comfort, but with the revenues increased in the ordinary way and iu an extraordinary way by the sale of bonds the situa¬ tion is uot as serious as it was some mouths ago. It wiJl be in the power of the Treasury to reduce the volume of outstanding gold obligations by whatever amount of them is paid in, either for cuslom and revenue dues or for redemption in gold, which it may not be positively necf ssarj to reissue in payment of the government's obligations. Thus the danger n hich may threaten the ability of the goyernmeiit to maintain gold payments may soon be materially reduced by the curtailment of the floating currency redeemable from the gold reserve. The fact, too, that part of the relief conies from abroad is also a good feature. But all this notwithstanding, the situation cannot become wltolly Batiiifactory until the government is relieved from the necessity of these miserablft-siiifts to maintain its honor and credit. The position of the Treasury will be a subject for disquiet in commercial circles so long as there exists even a probability that it may at some period be compelled to suspend gold pay¬ ments. There is uo sign yet apparent tliat the next Congress willrelievc the disappointment felt at the omissions of this; the kuowii opinions of its members do not warrant any such hope, so that there is from all appearances a long spell of cur¬ rency agitation before us, Reports of trade are no better than they have been this year and happily no worse. Railroad earn¬ ings are picking up a little and eucouraging holders of railroad secujJtipa.somewhat, tho,igh when the returns for the present period of stoiaome iu, which will be in tvro or three weeks time, they will havfi-^xencouuter some bad showings, all of which will doubtless have til'.- usual influence on speculative operations ; other operations the-are positively none. TS China or Japan the humbug? WasMpa insincere in her -*- -desire for peace, or did Japan always iutAto break up the negotiations? So far as the circmnstaoces whiL.the West is permitted toknow will enable an opinion to be foimedt IS Japan that 18 the really obstinate parly. She intends to be tug" at pon-er m the East, and her armies have not yet done all thdd requiredofthemiucarryingoutherpolicy. Until Chmaprostrates herself at the feet of her foe the war will go on, aud the victor 18 apparently not at all anxious that China should be in ahurry to formally humiliate herself. Further analysis of British trade returns for 1894 shows its unsatisfactory character ; the exports lucreased only 3.5 per cent, while prices decreased 4.5 per cent. Keturnsot trade recently issued show that France is becoming aUflost independent of foreign nations for her supply of meat obtaining it mostly from Algeria and Tunis. December imports decreased $12,000,000, but exports increased $15,000,000 In berinany there are no iudicalious of impiovement in trade; Plentiiul money keeps the market for securities strong, though there is yet j little activity. Everybody seems to be waiting for nrSi? '^ !f ^'^"''^ ""'^'^^^ • "^^^^ ^^^ ^«^° «o'»« decline but ZlTf '?!,'' "''*'"'^ °*' "" ^'"'■"P- Hungary has all the gold i t eSetlT Tf"T'***"" ^^ **^^ dual-Empire, and Austria t? n ?^ ^^'''"Pl^te the collection of her requirements this win- Se Tb ?'"/• '** ^^ P"*^ '" circulation in about two years- oSani Jr r.;!"'^" '""''" """''"^ ' "^^"^" **^ ^^ thoroughly dis- is in?? f^ '^' '' **"" "*■ '•'"' ^^^^^"^ " I^y fi»«°"«I trouble s expected in Vienna. The Anglo-Austrian Sugar Refinery of SSsTnon ""^T "^"^'^^ '^^ campaign of, 1893-4 with a loss raoidtr^^^?'''",?. ^■'*' ^'^"^ ^''^'"''^ •'^ $1,300,000. The plaus for «Wa transit in Vienna are nearing completion. They eontem plate anetwoih of elcclric railways, eprtsding in ckvin eccen¬ tric rnys from the centre of Ihe town to ;(hc faithest Euluihs, and with linrs underground inlLe tcwn and Uvel with the streets in the suburbs. rpHE opposition which is formulating against the Doclt Meas- -*- ure now before the Legislature at Albauy should not over¬ look the really dangerous step which the hill proposps of removing the su|iervision of the conetruclion of jiier buildings friim the Buildiug Dejiailment where it is now lodged to Ihe Dock Deparlment. Il isnu opeu secret Ihat these two depart¬ ments of the City Government have been in opposition for somo time about Ihe character of t]:e buildirgs which should be per¬ mitted on the docks. The [Building Department, as is Quite right, has insisted upon a kind of structure, fire-re&isling if not fire proof. The Dock Deparlment would prefer, or, at any rate, would allow flimsy, inflammable structures. The pieis which the latter department constructed lately are really ingenious devices for sprendlng fire and are eminently well calculated to extt nd a conflagration around the city, and make the work of firemen as difficult as possible. The piling is all of wood, and the floors of the piers are of the same material. The plea of the Departmeut, we believe, is that conditions here in New yoik change so quickly Ihat something flimsy and inexpensive is what the case requires. Competent judges say that the piling should at Icist be .sheathed with iron above low water mark, and the fl-oora of the pieis protected by a layer of ashes or some other non-combustible material. Floating oil or lighted embers would uot then be so certain to extend disaster. There is no reason iu the world why the Building Department should uot continue to exercise control, not, indeed, over the piers them¬ selves, but over the kind of buildings ihat may be erected upon Iheni. These huildings. it should be remembered, are not con¬ structed by the Dock Department, but l»y the lessees; and Ihe reasonable requirements of the Building Department in tl e interests of public safety costs the Ciiy nothing, aud are not seriously objected to by the lessees themselves. BEFORE the discu-ssion regarding reform in city matters grows lukewarm would ifc not be well to iuvesfcigate an evil of long standing by means of whieh office hoi der.s and petty politicians secure far iu advance, information about street open¬ ings and other public imorovemeuts which enables them to ad- "\ise capitalists where profitable investments can be made. The "leaks" are chiefly in the Board of Street Opening and Improve¬ ments and the ottice of tbe Commissioner of the 23d and 24th Wards, and there is a lurking suspicion that attaches of Ihe De¬ partments of Parks can be included among the guilty ones. Particulars o£ the proposed action of ot^cials charged with the duty of deciding what iinprovements shall be made should be given to the public as early as possible, even before definite plans are discussed. If this were done the speculator whose politic.il connections enable him to buy at low figures and sell jit a substantial a'lvance would no longer eujoy au advantage over other buyers who purchase with a view to permanent invest¬ ment. WE have been so long accustomed to talk about our coming to a silver basis that people have ceased to believe it possible; yet, let anyone examine the bills in his pocketbook and he will see how a thing may come about eo gradually that he will not notice it, and let him ask himself on whom would the loss tall if from any circumstance the Government ^h.-T-'cT he come unable to maintain silver on a parity with gold^ Here is a recent experience. A gentleman cashed a check for one hun- ^,,^dollars at a New York bauk, and at his request the paying tg]]pj.ave him two fifty-dollar bills. His curiosity caused him toexan"^ them. J They both called for silver dollars. He next drew tf"*>'"^'^51 "^'^''^^'^d received one ten-dollar and one five-da*'^' ^'^^^ ^''^ ^"d two five-dollar Treasuiy notes. He handed ver ^^ ten-dollar bill in payment for a $4 article at a Broadvay »*'^'®' '^"d "eceived in change a five aud a one dollar bill both "''''^ for silver. At another store he tendered ihe fi^g.jlyll, bill iu payment for a small article, and received be¬ sides smi; change four one dollar silver bills. Later examining fourteen i'l^^s that came into his hands he found it made up of: Treasui no**""' ^v^ dollars in one bill; greenbacks, two dollars io tw&*''-'*' silver, seven dollars, in oue five dollar bill and two oue d/'"" ^'"^- "^^"^ ^^ happened that ia a short space of time.'t>149 i^''^^*^'^™^'"*''^^^^^"^^''^ which $132 repre^ sented silver d^'^^'^' *^^ Treasury notes and $2 legal tenders, andnoneof wif^'*^''^^*'^^^'^™^"'^'^'^^^''^"t^^y*^0'»]'e'^ed under any and all fi''""^*'"''^®^ *<* l'^?'" ^^Id. This though a remark¬ able expc''"'^ ^^ similar to the unconscious experience of most people of **^ present day. Taken in connection with the abso¬ lute di.'jap^^'"^"*^*' ^^ ^"'d and gold certificates it shows that the bank.'"**" '^^^t are discriminating in the class of money they pay out, :'*'^''^ determined that if any part of (he circulating medium's ^^^^ciates, as little as poseible shall do so in theii'hands. /