The New York herald., 1874-11-01
BUILDING.

Around About Us-The Western Union
and Evening Post Buildings Samples
of the City's GrOwth-Sermons I'm
StOnes-The New Post Once the Busi.
ness Centre OF 1.-THE city,"
New York has been for q considerable period OF
Its existence in o transition state in regard TO
business, which. as 1t increased, kept gradually
moving up town until 1t had reached such large
proportions that out OF that promising condition
1t began to establish special centres for particular
trade, commercial aud industrial interests. The
nrst considerable exhibition OF this important de-
velopment. responsive to the awakening impulse
that has since given New York the commercial pre-
eminence sne still enjoys, followed the opening OF
the Erie Canal, which brought the whole business
OF The interior down TO this city as the great dis
trburing depot and located the dry goods centre
on the west side or Broadway, in Dey, Cortlandt
Liberty, Fulton and the streets running parallel
herewith and at right angles to Broadway and
the North River. The direction thus given to
BUSINESS EXPANSION
has been sngularly adhered TO In the extension OF
trade limits, which, as 1t extended northwardly,
reached from river to river until IL had absorbed
nearly all the island up to Chambers street, when
the dry goods trade, inclning to the line OF Broad
way and the adjacent streets, left the great
stretch OF territory In the direction OF the Grand
street ferry and north OF it to population and It's
natural retail trade requirements. The prefer
ence shown by the dry goods trade for the west
side and centre OF the city will be readily per-
ceived upon reference to the map OF the city, IN
the continuous streets running north and south
parallel to the great thoroughiare, as compared
with the divergent direction OF the streets further
east above Chambers street, the west side here
ting the figure OF a great counter stretched
parallel with lhe North River, to which come to
be served, from West ana South, along the lines
of railways that have their several termini along
this river 'front.', She ctys best customers. Gradu-
ally. as business grew, it absorbed other streets
adjoining, which were speedily
ENTERED AND OCCUPIED IN TURN
by jobbers-Barciay, Murray, Warren, Chambers
and Reade streets, with College place, Church
street and the Broadway 'front.' About 1861 an
other great trade movement was apparent in the
opening OF II. B. Clafin Il Co.'s new store on West
Broadway, whitner that firm, then Claim,
Meen Co., moved from tine Trinity
Building. The increased business OF the
dry goods trade Of this city had pre-
viOusly carried the jobbers as high up as
Duane and Worth Streets being pushed IN that
direction by the growing requirements OF other
departments OF trade which they LETT behind
them, and following to some extent the hotels
but with the removal of Claim to West Broad
way
! NEW CENTRE
! was 1xed for the dry goods trade around which
business speedily began TO concentrate.
Church street at that time in this neighborhood
was about the most worthless property in the city,
\ being principally made up OF negro tenements ;
but these were quickly torn down and their sites
/ occupied oy magnincent warehouses that were
/ rented long before competition. so, too, with
WORTH Leonard, franklin, White Walker and
Lispenard streets, Canal street seeming to be
the boundary and outside OF what might
be designated as The great dry goods district.
went up rapidly IN rows, all OF them OF massive
and substantial character. the demand for sites
within the favored area becoming so great tnat
tie New York Hospital was soon forced by the
pressure to sell out, when the hospital grounds
street opened. Great fronts OF marble soon
showed themselves where that little green patch
had before given bit OF country view TO passers-
by In busy Broadway.
THE SOLID NATURE OF THE STRUCTURES
which now cover this area between Chambers
and Canal street, Broadway ana Hudson street,
with the heavy investments made therein, nave
nxed this locality at least Tor one genera
greai trade centre: for, alter laying sucn
foundations, trade generally becomes stationary,
and u IS not likely the children OF the present
sucn stories OF rapid changes in the c,ty's lace as
the mea OF to-day have frequently heard from
their fathers. That the district we have pointed
out Will enlarge itself In the future we have
no doubt, as with the commercial growth OF this
metropolis Will come the necessity OF more room:
but what we desire to call attention 70 is that the
character OF improvements made OF late years,
that downtown New YORK, RON that point 70 Wall
street Ior a considerable distance each side OF
Broadway, VIII IN future represent TO US
WHAT IN LONDON Is KNOWN AS THE CITY,"
Not that business VIII not be transacted outside
OF this limited area, but that tins Drain and 1nan-
cla centre OF the great industrial interests OF ibis
emporium will De eagerly sought after Dy all who
have or seek TO have such interests in charge, VINO
will desire there local nabitation OF some kind,
II 1t be only ofce room, with view
to making name and connection Tor themselves.
There might be pointed out other instances OF the
i
have cted II being certain tnat the seeking ciOSe
connection with tue dry goods trade, such as we
have had In mlnd III the above remarks and or
which Claiin and Stewart-the latter In his whole
sale trade-are representatives, very many spe-
ctal branches OF dry goods business will gravitate
toward the same centre; sucn as the movement
apove Chambers street OF the cloth and wooen
houses, ready made clothing and the boot and shoe
trade, the same buyers from the south and West
seeking generally eacn department OF trade.
Also seem desirous to establish closer relations
with the main artery Of the city. These move
ments were more noticeable Two years ago tnan
In THESE departments; but the grouping OF the
dry goods trade may oe taken as the best Illus ira
tion OF the lesson 10 be learned from
THE DIRECTION WHICH CAPITAL TAXES IN sEEKrN O
SOLID REAL ESTATE INVESTMENT.
We have pointed out the resnlts which flowed
from the investments made under Cafiin's leader
snip In what seemed an promising locality in 1851
and now represents wealth that NAV NOT be estTnat
Ell Win any correctness. We nave similar lessons
In the character oil the improvements in progress
or recently completed around that magnificent
structure, the new Post once. why, we might
ASK did the HERALD choose It's present location,
why the Times its, why was the Bennett building
butt and why the Tribune and Stdnfs ZeltsLn1
bnildlngs2 The answer TO these questions is to be
found In the magnificent structure to be occupied
January 1, 1875, by the Western Union Telegraph
Company and In the massive building now being
erected in Cortlandt street for the Delaware and
Lackawanna Railroad Company. We might signal
also other instances OF heavy Investments OF like
character In this neighbornO0d, and also point to
the return OF the Erie Railway TO a location down
town for their business onces. IL s manifest tnat
this Investment OF so many millions OF dollars In
such clrcumscriDed area Ia gong to make that
area
4 GREAT BUSINESS CEfTRE.
In reality 1t is moving WAL street up town fcv
blocks, minus tue stock Exchange INA Insurance
| companies the lawyers, the "aRen ~ and count
less other people on "the street" VINO nave really
| more business with the courts than they nave
WIN the STOCK Exchange, Will. In the course OF
lew months, vacaLe their present premises ana
SEEK mg2er location. WhT. the very movement