New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-07-10
BUILDING IN THIS CITY.

Something like q decade ago TIN TpInruu
had occasion, in critcising tie architecture of
New York City, to alludo 20 the Equitable
Building as about tho only crcditable structure
in the lower part of tho city, and to speak OF
1t as an illustration of tho class of buildings
which, by reason of the contracted limits of the
lower part OF the island, the crowded condition
OF that quarter of which every foot lad been
built upon, and the consequent high rates at
which real estate was held was likely 10 become
general Ill that particular locality To day the
Equitable Building would not be alluded TO IA
remarkable, compa. atlVely speaking, for il las
been surrounded and is being every year
ccpscd by buildings moro elegant and bold
III design and more loft and grand Ia proper
IONS III was the pioneer III u style of building
forced upon the architect by commercial con-
sidcrations to which lac was compelled 10 CON
ccdc much of taste but the pioneer WIS rugged
indeed compared with some of the Younger
giants which have followed him. And if is
apparent that in all matters of dimensions. pro
portions and conYcnicnccs, aside from the mere
question oil taste Ill design, it is to be oxccllcd
by buildings now in course of construction.
Some curious and interesting facts and
opinions are brought out III the familiar tollss
published elsewhere Of u TRIBUNE reprcscnta-
tive with architects, builders, landlords. apents
and tenants, relative to the present cxtraor-
binary activity in building IN this city. Some
OF these may be uscfully recapitsllalod here
lhls activity or BOOM" in building = almost
entirely confined TO this city u favored small
part OF brooklyn feels ii but there is stagnaton
III Jersey tappeags here in the Localities adm
cent to the elevated railways, in the sncri,I
form OF Office buildings downtown and onort-
mcht houses uptown. These arc facts which
suggest II they do not prove the great influenza
Oh the elevated railways in developing this city
ana stopping the migration of our citizens ia
other places. This unexpected activity in
building is clearly trdceablc to the cxtraor
binary abundance of money seeking better
paying investment than Government bonds
at '5i2 per cent, or bond and mortgage at H.,
ana per cent; and 1t is equally clear that The
Tall buildings OF the two classes referred I'm
make better return than the figures named
HOW Iar the thing may be Ovcrdcne remains 70
be seen, but the buildings already constructed
on the economical principle Of building two or
thrce houses on lot which formerly held only
one, nave certainly paid, as the tenants ar,
ready to testify, enormously" and AZ arcbi
tects ana agents admit from 3 to 20 per cent
Interest. The "boom," according t. all the
evidence, Is n substantial one it has none of tbo
speculative qualities or insecure basis which
characterized the last one we had be,e dnrip,,
the brief period when tho "RingD boucbt and
built with stolen funds. 1t has proved to bc an
unexpected boom y that is to say, while archi
tccts aad builders made calculations and mo-
visions Tor u season of heavy work, they fa, nm
derestimated the great volume of worl, thev
were to be called upon to do. A., a consc-
quence, builders have made contracts nt nr;ces
TOO low to leave them much margin of rr,Gt
and many will lose money and others will
throw up their contracts on any possible excuse
Workmen in the building trade have taken adj
vantage of this great demand and bovo adj
vanced wages, in violation of an agreement ON
the part OF their Unions to rates which will Ina
ruinous to the builders, or will attract tbon-
SANDS OF brlcklaycrs and carpenters to this citv
Or as one large builder suggests, will comnal
the bosses" to import skilled men from,
Europe ON special contracts. Unskilled labor
100, has advanced its demands to comparativoIv
nigh wages, and Il consequence to be feared j.
the attraction here of common laborers who will
be only temporarily needed
One effect of this activity in building must