Savannah morning news. [volume] (Savannah) 1868-1887, 1884-08-03
BROADWAY'S BIG BLOCKS.
THE STREET TO BE TRAVERSED
BYA RAILWAY.

Horse or Cable to be the Motive Power
Big Games on the Green Cloth a Thing
of the Past-Where Some Prominent
New Workers are Spending the sum
mer.
NEW YORK, Aug. LIT has now been
decided that Broadway is TO have a sur
face railroad, either by horse or cable
traction, before another year. A commit
tee has been appointed to hear the final
objections to the scheme. AS the AstOrs,
Lorillards, Goelets, and several other
owners of large blocks of Broadway
property have at last given their consent
to the railroad there is no doubt about Its
rapid completion, and company of rich
men has been formed to do the work. The
elevated roads have worked the change in
the feelings of the Broadway magnates.
Until within the last five years the Astors
have successfully fought all such schemes.
Years ago Broadway was the main thor
oughfare for the merchant to go down
town in the morning and up town in the
afternoon. Some went by stage, and some
on foot. For several hours a day it
was crowded by the men whose
custom was valuable to fash
ionable tailors, jewelers., booksellers,
uphOlsterers, etc. But when the elevated
roads came, Broadway fell between two
stools, so to speak. The solid business
men who had been the patrons Of the
shops between Tenth street and the City
Hall, wanting to save time, took the Ele-
waited Road up town near their homes,
and were whisked down to business. They
were seen no more on Broadway. The
effect was visible at once. Tailors and
jewelers. moved either far up town and
far down, following their customers, and
Broadway shops along the two miles be-
tween Tenth street and the City Hall, fell
off decidedly in rentals. People even
ceased to ride in Broadway stages; they
were so slow compared to the elevated
roads. So at last the property owners,
who opposed all change of any kind what
soeveT, because, too, property was per-
feet gold mine, now welcome railroad in
the hope that some of the retail trade
may be recovered. There are $50
separate pieces of property on Broadway
from Union square down to the Battery,
the whole of it valued at about $S5,000,-
600, and is owned by 1000 persons.
An examination of the list has shown
that not more than One-third of the num-
Der live in New York. A great many
valuable buildings are owned and man.
aged by trustees for the benefit of heirs.
Other people who receive millions every
wear from their Broadway property have
not been in this country for years. The
Borul building, for instance, on Broad
way, near Trinity Church, returns an
income of half million and is owned by
Madame Borul, a granddaughter of John
Jacob Astor, who has not been in Ameri-
ca for twenty years, living entirely in
Paris and bringing up her children as
Parisians. The Astors and GOelets of
the present generation are thoroughly
identified with New York, and
once or twice week l meet
the portly John Jacob, the grand
son of the original, and the father
of our present Minister to Rome, walking
down Broadway surveying complacently
the big buildings which help to swell his
income to about 1000, 900 year. The day
that Seney's bank, the Metropolitan,
closed it's doors, l saw John Jacob among
the crowd of curious people who stood on
the sidewalk and watched the porter put
ting up the iron shutters. The big, pOrtly,
red-faced man, who would be taken any,
where for a typical Englishman, could af-
ford to look on at others financial troubles
without anxiety. Some of the most
valuable property along Broadway is
owned by minors, all that belonging to the
Clark estate being held in trust for a boy
now 5 years old, and the Garner property
for three young girls, whose parents were
drowned on the yacht Montauk some years
ago.
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