Omaha daily bee., 1907-03-14


ROUND AHOpT NEW YORK
Nipples on the Current Of Life In
the Metropolis.
The New York correspondent OF the
Philadelphia Ledger relates an incident
OF jay Gouids connection with the Union
Pacific railroad az contrasting sideiight
on the methods OF the oempany's present
managers In the days when the Union
Pacific counted Boston as the company's
headquarters Il Is told that Jay Gould
called one morning upon President Ames
20 ask about the large floating debt that
the Union Pacific was said to be carry
ing The debt II turned out. was only
100000. but even that seemed very large
10 the banks In Boston which carried the
loan. Gould asked what rate OF interest
was being paid. but President Ames was
inclined to be reticent on that point. I'm
der persuasion he admitted that the Union
Pacific was paying an average OF IA per
cent on this money. Gould Immediately
offered to take up the loan, and President
Ames. who the same day had had trouble
In getting one Of the banks 70 renew a
note Of the road for $4,000, accepted the
Gould offer. When Gould fixed the terms
Of the bargain President Ames, It is re-
lated, was surprised to have jay Gould
name por cent as the interest rate.
From that day on Gould carried the Union
Pacifics floating debt and never asked
more than per cent.
Speaking OF the incident, an offlcial of
the Union Pacific, who was an officer OF
the road in the days when Gould was in
the property said:
Jay Gould was a fairer man than ira
dition makes out never knew a man
who knew Gould who agreed with the pub
lies view OF the mans character"
Golfers tells how taxes are lodged in
New York: ION the day before tax day
you own a million dollars worth Of rail-
road securities, taxable at S14700. That day
you go to Pfaelzer & Co. sell you railroad
securities and put your million into tax
free municipal bonds. Then you make
your afidavit that you have no taxable
property. The next day you sell your NUM-
cipal bonds and buy back your railway
securities. You can do II all in forty
eight hours. and the net saving is S1L7Oc
less the Insignificant commissions for the
transaction"
Manhattan's school population has al
most ceased to grow. For more than two
years there has been falling OF in reg
istration and no material increase in at
tendance, Residences are giving way for
business houses or factories. Manhattan
people are migrating to the suburbs In
search Of cheaper rents and larger homes,
Figures Of the department Of tenements
and buildings show that from 1902 when
separate statistics for the different bor-
oughs were first kept, until January /,
this year. 3,TA new apartments were
built, an increase of 100 per cent in four
years. During the same period permits
were issued for 22912 new dwellings. Ac-
cording to the latest Federal census. the
average family in New York comprises
as persons. On this basis, new apart
ments have been provided in the last four
years for s72,O2s persons.
A New York man has just patented a
device for the encouragement of thrift 1t
consists of a toy savings bank with a clock
attachment The clock is set in the face
of the bank and cannot be wound unless a
dime lie dropped in the slot. As winding
causes the dime to fan into the vault and
the clock win run but twenty-four hours
without rewinding, the contrivance assures
the accumulation OF seventy cents a week.
The theory is that the necessity Of de-
posting a dime every day will lead to slip
ping in other coins at odd moments and
thus establish habit of saving.
The report Of the State Board of Tax
Commissioners set forth a singular condi-
ton OF affairs brought about by the ate
tempt to assess for taxation the value of
special franchises used by public service
corporations. The special franchise tax
law was passed eight years ago in Gov
ernor Roosevelt's administration. 1t taxes
as real estate what are called special fran
chises, such as the right to use the public
streets, and rights other than the right
to be a corporation and to do business.
The board reports t1s,9OO.OoO of unpaid
franchise taxes in the cities of the state.
all but half a million Of the great sum
having accrued I'm New York City. The
corporations affected have fought the tax
until its validity has been upheld by the
courts Of last resort. Still they do not pay
up.
BY the settlement in the supreme court
Monday of a suit brought against her by
the New York & New Jersey Railroad COM
pany, generally known as the McAdoo
Tunnel company, Mrs Mary ]. Mcdonald
has been awarded S65OOO in lucky real
estate investment
Less than three years ago Mrs. Me-
Donald, who is the mother OF Lafe Ne
Donald, an actor, bought a little piece Of
property at 10 West Thirty-third street,
generally known among real estate men
as THE Patch" because OF its smallness
and irregular formation. being less than
one-hfth of a city lot 1.-THE Patch" has
a frontage on West Thirty-third street Of
twenty-five feet and runs back on one end
twenty-seven feet and on the other only
sixteen feet
When the McAdoo Tunnel company
wanted to acquire. title to the property
Mrs. Mcdonald refused to sell, and Ben
jamin F. Feiner, on her behalf, opposed
proceedings taken in the supreme court
by the company to condemn her little
patch.
AS a result a supreme court order was
entered appointing commissioners to con-
denim and appraise the property.
The Price OF settlement, $4,000, Is said
to be the highest award for land in this
/ city in q condemnation proceeding. and
gives to Mrs. Mcdonald clear proft OF
$4,000