The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1883-01-27
Our New York Letter.
Regular correspondence of ADVOCATE.
NEW YoRE, Jan. 20, 1883.

Regular correspondence of ADVOCATE.
NEW YoRK, Jan. %, 1883.
Our sister city, Brooklyn, is at present
actively engaged seeking solution of
the Rapid Transit problem, which is
growing to be very important question.
An Elevated Road connecting tie East
River Bridge with the more distant parts
of Brooklyn is inevitable but, after the
experience New York has had and is still
having with her elevated roads, it is
quite natural that the authorities are
looking very carefully before they leap.
Mayor Low is at present considering sew
eral propositions. One Of them is that
the city should own all the rapid transit
lines md lease them 10 individuals or
corporations for operation. Mr.. Corbin,
OF Manhattan Beach fame, the President
of the Long Island Railroad, has sub
mitted plan, the most prominent tea-
ture of which is that it acknowledges q
priml facie right of property owners
whose lands may suiftr, to lay claim to
damages. The objection to this project
is the extreme difficulty of properly ap-
praising and adjusting the damages that
will be claimed. Several other schemes
and propositions are under consideration
but these two are the leading ones.
Mayor Low who is very active and
clear headed man is devotipg all bis
spare time to this question, aud he seems
determined not to be hustled into de-
cision by the urgent necessity OF estab-
fishing some means OF quick transporta-
ton.
Investors and speculatoIs who placed
large sums of money in the hands Of
builders for the purpose of erecting vast
apartment houses, are beginning TO feel
uneasy. reaction has set in IN the
should this turn out to be more than q
momentary feeling, the crash which will
bring down large spectators will be
heavier than the awful real estate col
lapse of some years ago. When first
these houses were started they proved a
good investment. People were glad to
have all their rooms on one floor, to have
accommodations and conyeniences which
they could not enjoy in a private house
without additional servants, and to en-
JOY the novelty of joining the comforts
of home with some of the advantages
of a hotel. Then everybody with money
to invest put it in apartment houses. and
speculative builders ran enormous risks
in building such cnravnnsaries by tens
and tweEiies and il one or two cases by
iiitics. But tie risk was crowned with
success. These houses were built to a
height Of five, six and seven stories; they
were furnished in the most elaborate
style, provided With every modern con.
venience, and given high sounding at
trdctiye names. Apartment houses be-
came the fashion, and tie rents asked
and given were enormous, The build
ing of SO many Of them, however, brought
rents down, bat even nov money invest
ed in them bIit IS from sew Il to fifteen
per ceut. per album, eu pormouB iu-
terest when one can obtain but Eve per
cent. for money loaned on first class
/ bonds and mortgages.
And is all this to be changed? It is a
well known fact that frequently the
smallest causes bring about tie greatest
results. l met prominent real estate
man tie other day in broadway He
seemed to be very depressed. Said he,
"that destruction of the Newhall House
Milwaukee by fire, and the subsequent
hotel fires have had bad, very bad ef.
feet. People who live in tail houses and
particularly those who occupy upper
Eats have got scared. Oar janitors say
so, aud know hotel clerks can hardly
get guests to GO above the second hoor
# ouly this thing had not hapPened Sc
near May" and lie walked away in n very
thoughtfui mood. After all, this may
be only a momeutary scare, but should 4
few more fires Of the kind alluded TO oe
cur there will be general exodus I,
suburban places ami property on Lons
Island. Brooklyn, Jersey City Westehes
ter County and other contiguous place.
will advance accordingly.
Like a dntifal ohronielsr OF meiropoli
tau events. Iattended the annual m squei
ade ball OF tbo CeFc,c Francais de / Har