The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-01-18
GREEN THE STUMBLING BLOCK.
Rapit Transit from the Practical Standpoint
Of This Market.
Mayor Wickham's Opportunity and What
Will He Do With Il ?"

ouI uuduCcS UdCk W epcClo pdSlS. 10 real
estate owners at this time, and with the interval
that has yet to be passed over before any great
speculative movement can be legitmately ex-
pecied, an acknowledged condition OF the present
market, also having In view the forced liquda-
ton and consequent arrest OF apprecialive values
In some cases, and positive shrinkage in others,
OF the last couple OF years-this purpose brings
with 1t only the promise oil future stability and
an increased investment demand. 1t Is logical to
argue that in
THE APPROACH TO SPECIE PAYMENTS
much OF tho results then to be attained will be
anticipated by shrewd business men, not the least
OF which will be an increasing disposition to seek
real estate investments at present low figures. 1t
Is within the observation OF any one who has
studied the history Of the real estate market In
this city that values have their ebb and dow.
They rise IN certain cycle, reach climax and
either remain stationary or recede Tor another
CYCLE when new forward movement takes place,
to be again followed as before and again re.
versed, and so on. Instances illustrative OF this
are too familiar and have been too often quoted to
need repetition here. The point to which 1t is
desirable to draw attention is the duration OF
these cycles or changes. closer observation
than that which determines their existence de-
monstrates that the period OF stagnatlon or recess.
sion Is Infinitely smaller than that OF appreciation.
While tidal wave OF higher values may extend
over period OF eight or ten years a receotng
wave eAhausts Itself in one or. at most, two
years. when another flow takes place.
The OnIy drawback to the pleasant picture
which llumines the path OF the toiler In this
into the new year is that Green 'stcks" with
q pertinacity far less excusable than that OF
the oiicla! who FIRST gave historical significance
to that term. stanton mad a great party behind
him to justify his stubborn resistance to the order
Of his superior r., ofcer. Green has whom behind
desire Our political columns contain from oay
TO day many explanatory hints OF mis- reasons Tor
thus setting AZ defiance the publicly expressed
wish oil the people Tor his prompt retirement into
private lie, as also OF his efforts to himself
agains! the increasing demand Ior his removal. 1t
is not proposed deal with this phase OF the stu
aton here. 1t is sufficient to say that the real
ta'c mats wae Gfeen remains IN once
the amount OF money thus lar expended on
sss' and park west and
155th street, viz.:-Central Park the Boulevard,
Riverside PARK. Morulngslde Park, seventh ave.
avenue, amounting to $3l.3lO,9s2. This CORE.
spondent points out the present uselessness OF the
prsing that as property owner iurtner up town,
beyond l55th street. he should ask that II be dedl.
dents the END the island and IN Wes
chester county. by making 1t the ROAD bed OF rapid
IT or gyng to SS road The
ton is certain to md favor with our iaruptown
IF GREEN CONTINUES IN OFFICE
ana his present obstructiOnist policy prevails In
regard to city improvements Ii was pointed out
up town had Jailed Of their deslgn-vlz., because
OF the policy Which did not Kermit the cross
an outlet ro% these svsnues nou sap ssu
late travel and building not only along their
line, but building on such cross streets. At pres.
ent we nave splendid avenues running north aud
south without any means OF exit or entrance ex-
cept az either emo, the intermediate space being
comparative wilderness for want OF lateral outlets
from such avenues. A great deal OIL money, too,
has been invested IN this property thus lett unlm.
street improvements. 1t was also pointed ou6
that while the cost OF MorningsIde PARK, or
much Of 1t as iell upon the SUR Ounding properly
owners whom 1t was supposed would be benefited
by such PARK, had been collected, nothing has Ueen
zone even I'VE to- begin the work 81 improvement
pledged, many foreigners having invested largely
IN uptown property upon the expectations OF
these cross streets being promptly opened, and
any further neglect to provide tor such work, now
that a new ADMINISTRATION has come into power
IN city affairs, Will not iall TO be regarded as the
evasion VI an i'm piled contract.
RAPID TRANSIT
II next In the order oil expectation in this market,
although first undoubtedly in the popular desire;
but tine or rapid transit, II carried through
by the city, VIII have to be largely borne by the
property owners WITHIN the city, 1t needs no argu-
ment to prove that no system OF rapid transit Is
likely to be carried through that does not meet
the wishes or property owners. And just here Is
the hitch that mas prevented the attainment OF
this much desired rehef Tor our crowded metropO-
lis. 1t Is That these property owners are not ap
parently wiling 10 unite upon any scheme that
does not promise them all equal advantages in its
results, aUu Ut present tueTc Is none Sucu pre-
sented Thus the east side is not wiling to sup
port a road that runs W the west side, and this
rivalry between the two sides Is carried into Vest
chester county to the terminus OF the road. Even
the promise OF lateral lines to accommodate differ
ent sections s not accepted as com.
ON eacn side perhaps serving TO intensity the
jealous feeling. AS each separate interest IN the
uptown district has It's representative organlza-
tion seeking TO forward each interest coequal
with or at the expense OF another or all Others 1t
Will be seen that solution OF THIS problem that
rivalry mas beyond all question had its iuli share
In posIponing rapid transIt-a greater share, per-
haps, than even the rivalry of different schemes
and Doth OF these antagonisms must be reconclied
before we can expect any great step forward in
the direction OF rapid transit.
MAYOR wICKHAM HAS 1T IN HIS POWER
to bring about TINS reconciliation, to harmonlze
init TO the Legislature sucn a scheme Tor rapid
transit as cannot laii, under the home rule
doctrine, to obtain The approval of that body
quite independently OF the exertions OF any
LOBBY Let him select from three different repre-
sentative bodies OF real estate owners and tax
payers IN tnis city sucn representative men as
they themselves may name, to meet aud consult
upon feasible scheme OF rapid transit. Let these
representatives be required or requested IN sucn
CONSULTATION to take counsel, both OF competent en-
glneers ana capable nnancierS as to the feasibility
Of any scheme submitted to them in the light or
their separate knowledge as experts OF such eDgin-
GERS aud hnanciers, ano II upon such consultation,
with such knowledge before them, they succeed
in maturing plan that meets their concurrent
views, let them submit II 10 the Mayor, anu II 1t
meets with his approval let him forward 1t 10 the
hands or mat body. Should this committee,
however, fail to agree let them submit TO
the Mayor such plans as IN the absence
OF all others would meet their approval as practl-
cable, or the approval OF majority OF them,
marking the degree OF preference according to
the majority indOrsing eacn, aud then let the
Mayor submit THESE to the Board OF Aldermen for
their selection by majority OF that which they
most approve, and Jhen IT, the Legislature as be-
fore suggested. lt is Thought thai by this means
THE TRUE MEASURE OF THE DESIRE OF THE PEOPLE
FOR RAPID TRANSIT
would be reached, and each rival interest being
given an opportunity TO urge It's claims, would
EXHAUST It's opposition in that EFFORT, and secure
harmonious ana united support of the plan
deemed practicable alike from an engineering as
from a financial standpoint.
MAYOR wlCkHAMis OPPORTUNITY
after Green's removal-O course lt Is Idle to look
Tor mucn progress in this direction while he re-
mains III olnce-s rapld transit These sugges-
lions emb ace the views OF many real estate men
representing different interests up town, and pre-
sent q Means oi securiug "a reconciliation OF veX-
atlous antagonisms II IS also supported by the
honey aphorislu First be sure you're rlghr, then
go ahead.' once we succeed Ia getting rid OF