Morning journal and courier., 1884-05-12
The Building Craze i'm New York.
 rEo., vo,lr alter in St Ioufa SnacEakoP.


 New York is progressing marvelously in the way of imposing and costly buildings A. T. Stewart astonished the continent when, some years ago. he put up his great store on Broadway and Tenth street, and when he built his residence that cost $1,000 .000; but these and all the other Stewart buildings, which after all were plain and severe in de- sign, are now unnoticed and forgotten in the splendid march of progress. The tendency towards great buildings now almost amounts to 8 craze. Every rich man wants to perpet- uate his memory by 8 splendid structure of some kind-a sort of commercial monument characteristic of the utilitarian age. Our rich men no longer put fortunes into cathe- drals, monasteries and abbeys. There will never be on the American continent St.
 Peter's, St. Paul's, @ Westminster, or Cologne or Strasburg cathedral. The Catho- lies had struggle to get sort of cathedral in New York. It will never rank among the notable sacred edi6ces of the world and as 1 it is, had to be built by the contributions of poor servant girls rather than the people of wealth.
 The purchase is just now being closed up by 8 syndicate of London capitalists who represent $25, GOO, ,O00 of a piece of ground in New York on Broadway and Rector streets near Wall, for which $7, 900, 900 is to be paid, existing improvements included. The old buildings are to be torn down, and one grand new office structure costing $3. GOO, ,000 to be put up instead. This new building ls to be the largest and most perfectly constructed or it's class in America. There are to bo l, 100 | offices, and the total income is expected to reach $1, ,OOO, GOO per annum. The project | ors claim that by erecting so extensive 8 structure they can reduce rents much lower than they now are for similar offices and yet receive satisfactory interest on their money. When MT. D. O. Mills dies he will leave ] behind him the Mills building on Broad l street, that cost upwards of $2,O0O,O00, and which is one of the most noble looking com l merciaI structures in the world, notwith- standing the fact that he receives little over | two per cent. in, rents from it, because of some fault in the interior construction. The Navarro apartment houses on Fltty-nlnth
 street, opposite Central Park. will cost $3.-
 900, 900 when completed, and will be the finest of this kind in New York or any other | city, They are ten or twelve stories high 1 and have every convenience that archltectu- | ral ingenuity can devise. There are scores | of these apartment houses in the city that 1 cost from $500, GOO to $1, 800, 900. Mir. >Cl
 rus W. Field, not content with the glory he | has attained in connection with cables and
 elevated railroads, has just completed a ten
 story office building near the new Produce l Exchange that must have cost him nearly two millions. MT. Vanderbilt immortalized
 himself for the present, at least, by erecting the finest residence in the city. But If he leaves a son who goes as far beyond him ir
 magnifcence and display as he has gone be
 yond his somewhat frugal and cautious fath-
 CT, what shall we see in the next generation
 Mr. Vanderbilt is worth $2oO, 900, GOO, and il
 doubles every twelve years. He does mol
 give much of it away, and by the time sor
 of his, to whom the bulk of his fortune vii go, is as old as he now is, this sum would bt
 doubled several times. Here is room for tht
 widest run of an untamed imagination.