, 1873-01-27
NEW YORK.
Tho Grand 0pora.Honsc: Alterations to Do
Mado in tho Bnilding by tho New
Eric Management.
Tho Rcnl Estate Markets. Tho Profitable.
ness Of "Dickcring" In
Houses And Lots.
The Usury Laws: Sentiment in Favor
Of Their Repeal---Vilo Oon-
dition Of the Streets.

of Their Rereal-"-Vile Con-
dition Of the Streets.
From Our 0on Correspondent.
NEW YouK, Jan. 2t, 1879.
Included in tho property +" roatitution"-od to |
the Eric Railway Company by Jay Gould, in hls
settlomont, was
THE ankAp orEnA-nousr,
located at tho cornor Of Eighth ayonuo and |
Twonty-thlrd Btroct, aud Baid to be tho most |
magnificent thoatro In tho world. This build
Ing was orootod by tho lato s. N. Pike, and was
sold by him to Fisk md Gould In November,
1868, for esBo,oD0. Aftor tho purchase, about
10000 moro waB oxrondoa On 1t, in alterations
aud repairs, unlor tho personal supervision OF
Fisk,-thuB bringing It's cost up to sA,ooo,oo0.
In August, 1869, tho Eric Company morcd into,
and havo Binco occupied, tho throoupper- stories,
and also portion Of tho first story and baao-
mont, as Offices, paying therefor IN annual
rontal Of between eG0,00o nnd s70.o0o. And
horo It WAS that, for moro than Two years, tho
dead Prince Of Erio' and tho living Rostitu-
tionor Of Wall street. held high carnival,
and innuguratol tho boldest ByBtom Of
organized viltany tho world Aas ever known.
AH a matter Of courao, tho establishment wna
gorgeously Attoa up; and among tho modern
improvements considered desirable woro D ros-
tauraut and barbor-shop, where those who Ia
borod faithfully and zoalonsly for tho Eric mag
natoB wcro fed mud shaved at tho oxponso Of tho
stockholdere. President Wataon'a nsthctio
faculties, however, are 80 obtuao that he is ur1-
ablo to perceive how either Of those two things
Ia osHontinl to tho proper management Of O rail
road; and ho was scarcely warm In his seat
L.. ~ In n,t
ani ruth1esaly bnnishod tho barber,-thus COM
polling tho employees Of tho Company to got
"grubbod" and "f1ed up" at tho oxpenso Of
somebody clso than poor, pluckod Eric. Many
changes in tho management and disposition Of
tho different departments hnvo bren doomed
necessary by the now Directors for the
under consideration; but, now that tho
building has boon transferred absolutely,
and clear Of Ill membranes, to the Eric COM
pany, tho whole Interior wi1l DO romodolled, and
great doal OF tho fancy, gingerbroal-work that
WAS so fascinating to tho vulgar tasto OF Jim
Fisk will DO removed, and comfort md con-
venienco will DO substituted for glittoring taw-
drinesa. No practical business man can go
through tho building and fail to SEQ that many
alterations arc sadly needed.
| REAL. ESTATE
| In and around Now York has boon q perfect drug
for tho past year. Tho market Inns been dis
tressing1y dull, and sales few and far between.
The real estate agontB and brokers now gay
property Of that Kind Ia looking up, and they
| aro expecting to do brisk business as soon aa
the season opons, In February. And, as there
comnlaaiona thoy mako on tho aalcs and truaos
effooted by them for thoir patrons, they are IN
ticipating flush timos, md wear cheerful and
happy fscoa. It ID astonishing what IN amount
and brokers trnnaact during tho year. As tho
average Now Yorker is alwnys ready and anxious
for a trado when he can't mako d 6alo, you SOL
dom fai! to nndan enterpriaing real-eetato bro.
kor's bulletin-bonrd filed with descriptions Of
farms. houses. and lots, which he is authorized
\ to trndo for other farHs, houses, and lots. II
you MO in q diekering mood, you aro pretty apt
to get trade upon Tlsiting a brokers office.
Aud, 90 nominal Ta!ue is liked on each pieco
r1pGrtat a Mhoh price cs You s,sIt arc nto s
trading through tho nodiulnship Of Now York
real-eatato broker, with property ya1uod at $40
600, and find, in fow weeks, after making half
a-lozon exchanges, that You arc tho fortunate
but, when you,put tho farms, houses, aud lots,
OF which the humorous swops have
mado you tho lucky ownor, into tho market, you
will be apt to realize that tho magical wand Of
tho broker, by which the yn!uo OF your posses.
stona has been mado to incraaHo 80 rapidly, has
like tho whnds Of tho old Egyptian naagicians,
suddenly 1osk it's power, and emit tranHmute
your real estate into gold or groenhacks. The
you is unable to effect sale, and you eyontuall,
discover that tho fabulous increase Of your pos
sessions has q very uneubstantlal hasis,-Ho uu
substantial, In fact. that you considor yourself
your original property. As tho broker cl,argot
oach party commission Of from 8 to por cent
on tho assessed valuo OF each trado, tho hroAol
alwaya makes good thing, out Of 1t, whother his
customer lose or gain by tho operation. From
I nm pretty thoroughly convinced thu
very apt to inure to the profit Of tho brokor, bu
tho gains OF the traderB aro very similar to thoa'
Of tho two inapocuiouB YanIee room-matea VIII
made 95 apiece swapping jackets With oach 9th
or. I would not ndviEo any Of my parttoula
friends to engage in tho business with q yer
lively prospect Of realizing substantial and high
ly satisfactory profits thereby.
| THE ugURY-LAWG
aro beginning to DO pretty gonorally dlscusBo'
i by our businessmen, and thero Ia n mir psoB
poet Of thoir being repealed this winter BY til
bolons assembled nt Albany. Governor DIX roc
ommenllB the repeal in lH messnge And, Wle
1t gots through the hair Of such d rospecsabl
old fogy nB General Dix that uaury-1awB aro dot
rinontat to tho interests Of tho community
there is certainly good reason to hopo for thol
most eaerilegions to Talk about abolishing th
Huperstitious code respecting interest an
,lBury, and permitting people to aoll their money
It would bring in tho market. Now, tic ayerag
mind is becoming impressed with tho fact tia
money, liko any other commodity, is worth jug
what It will fetch; and TINT tho political quaoA
who are continually tinkering tie finances MI
, currency Of tho country are i creator ourgo tina
, "war, pestilcnco aud famine" and do moro t
rotard and injure tho material prosperity OF tt,
l nation, BY their ssrestrictive and foolish enac
monts, than ail other causes combined. Ever
secular newspaper in the clty advocates tho re
peal Of our usury-lawa and thero isn't = bus
11lcsa-man' In New York, with aonse enough to 8
in tho house whom it rains. but what knows tue
: arc utterly diarogarled, and Of benefit to to
, lenavoa only, who occasionally tako advantage C.
, them toayoid contracts thoy lave made with Ao1
eAt.nlnn. Yot for Bomo unaccountablo reason, tho
[ iaor,aiktnl IN rnt1lnitt nd f1iunrann Il