439
THE ESTATES GAZETTE!
March 18, 1899.
Mr. Frank Latham, the assistant borough surveyor of Margate, was lately entertained to supper by the members and friends of the Sturry cricket club at the Rose Hotel, Sturry, as a farewell gathering. During the evening Mr. Latham was presented with a handsome walking stick, and everyone present wished him success in his new sphere ais borough surveyor of Penzance.
Among the experts retained in the case of “Meekins (!human, Hanbury and Co.) v. London County Council,” heard yesterday (Friday,) at Newington Sessions, where a claim of about £13,700 was made in respect of 1,046ft. (10ft. wide on two sides) acquired under Michael Angelo Taylor’s Act, and taken from the Elephant and Castle Hotel island at Newington-butts, were Mr. Alderman Samuel Green, F.S.I. (Messrs. Green and Son); Mr. E. H. Bousfleld (Messrs. Fox and Bousfleld); Mr. Edward Stimson (Messrs. Stimson and Sons); Mr. John Farrer, architect and surveyor, 20, Finsbury-pavement); and Mr. T. J. Weaver, hotel valuer (Messrs. Hill and Weaver), for the claimant; and Mr. James F. Field, F.S.I. (Field and Sons); Mr. Ernest A. Runtz, F.S.I., Wal-brook; Mr. W. B. Thornton, J.P., D.L. (Thornton and Newman, hotel valuers); Mr. John Marks (Orgill, Marks and Orgill); and Mr. Edgar Harper, P.A.S.I., assistant valuer to the London County Council, for the Councd. The jury awarded £7,912. Our report is held over.
Sale or Моток Oaks and Bicycles.—Recently Messrs. Parsons and Son, auctioneers, of Brighton, sold by auction the stock-in-trade of the Brighton Cycle and Motor Company, Limited, of 9, Marine-parade, in consequence of the expiration of the lease of their premises. The sale attracted a large number of buyers, and the biddings for the various lots were exceedingly spirited.
Sale of Valuable Fuknituke.—On the 8th and 9th inst., the contents of the mansion known as Maison Rouge, Bournemouth, were sold by auction by Messrs. Hankinson and Son, of that town. Among the valuable and varied lots in the catalogue the more important items sold were a Turkey carpet, 15ft. by 10ft., 15-j guineas ; Bombay wood music stool, £4 ; an old black oak buffet, 4ft. 8in. wide, £15 10s. ; three carved oak dower chests, £6 5s., £10, and £9 10s. respectively ; a 2ft. 8in. relique coffer, £13 ; a' small nest of drawers, £5 10s. ; a 16 th century armoire, £25 ; a Brittany tallboy clock, £7 ; a ׳small cabinet, £4 10s. ; two bachelor’s mahogany wardrobes, £6 and £4 ; a tallboy clock in mahogany case, £7 ; American walnut bedroom suite, £24 10s. ; two Indian carpets, £7 10s. and £4 16s. ; a davenport in solid ebony, 34 guineas. The carved Italian walnut furniture also realised good prices, the dining table selling for £20 ; 16 oomer chairs averaged two guineas each ; a tête-à-tête, £3 15s. A Carpaccio chair realised £4 8s., a beautifully inlaid settee in walnut and boxwood £22, two classical Roman chairs £3 and £5 10s., and a small table £2 16s.
шптагд ttf Cmttotts.
AUCTIONEERS־ INSTITUTE (p. 435).-The Spring provincial meeting of the Auctioneers’ Institute of the United Kingdom, held at Derby last week, is fully reported. The gathering wasi a complete success, and between 60 and 70 new members were elected.
ARTHUR YOUNG AND HIS TIMES (p. 434).-An in-teresting lecture was delivered by Sir Ernest Clarke before the University of Cambridge on the above subject.
BRIC-A-BRAC (p. 454).
CITY TOPICS (p. 439).
COMPENSATION OASES (p. 440).—The lessee of the business premises, No. 266, Strand, acquired by the London County Council, was awarded £500 compensation by a jury at the Guildhall, Westminster, on Friday—In the case of “ The Governors of the Stepney and Bow Foundation v. the London School Board,” which was a claim in respect of six copyhold houses in Cobom-street, Mile End-road, a jury, at the London Sheriff’s Court, awarded the claimant £3,225,—Mr. H. T. Steward F.S.I., continued the hearing of cases in connection with the Strand and Ciare Market improvement during che week—The amount to be paid to the Bishopsgate Foundation for the acquisition of a plot of land comprising a portion of their estate in City-road, for the purposes of a new Metropolitan police station, was fixed by a jury at £33,166 at the London Sheriff’s Court on Tuesday.
FARM AND FIELD (p. 4S5).
FORESTRY (p. 448).
FURNITURE OLD AND NEW (p. 453).—Artists of the Louis Seize period.
INSURANCE OF PROPERTY AGAINST INJURY (p. 456),—A novel scheme of insurance is explained.
LEGAL TOPICS (p. 441).
LEGAL PROCEEDINGS (p. 437).—Mr. Justice Byrne’s decision of a question as to the true construction of the terms of a lease; an interesting right of way case, in which Mr. F. G. Chinnock and others were plaintiffs; a right of way case, heard at the Lewes Assizes; a footpath dispute settled by a jury at Carlisle Assizes after a hearing which lasted 14 days, are reported!.
LEEDS; FROM A SURVEYOR’S POINT OF VIEW (p. 453).—A summary of a paper read before the Leeds and Yorkshire Architectural Society, by Mr. John Hepper, F.S.I.
LICENSED PROPERTY NOTES (p. 452).
MARKETS (p. 449).
MEMS. FROM THE MART (p. 451).
NOTES BY THE WAY (p. 454).
PRIVATE TREATY SALES (p. 447).
PROVINCIAL PROPERTY SALES (p. 452).—Results of auctions in the country.
QUERIES AND REPLIES (p. 451).
SAYINGS AND DOINGS (p. 448).
SATURDAY HALF-HOLIDAYS (p. 441).—In reference to this question, “A Surveyor’s Assistant," in a letter to the Editor, makes a useful suggestion.
JmottaL
Messrs. O. J. Lulham and G. A. Doody, auctioneers and valuers, Oswestry, have dissolved partnership.
Mr. O. E. Porter, auctioneer, has been elected one of the borough auditors of Bland-ford (Som.) for the ensuing year.
At the annual meeting of the Northampton Chamber of Agriculture, held recently, Mr. G. F. Beam, auctioneer and valuer, Wellingboro’, was elected vice-chairman for the ensuing year, and also chairman for 1900.
Mr. F. J. Smith, F.S.I., of Southampton and Basingstoke, has been retained for the settlement of claims and compensation in connection with the extension of the Portsmouth Waterworks under the company’s Act of 1896.
The partnership hitherto existing between Messrs. A. N. Edwards and H. F. Cates, carrying on business as auctioneers, etc., under the style ■of Edwards and Co., at 60, Great Portland-street, W., has been dissolved.
Mr. Henry Lee, P.A.S.I., who has had an extensive experience both locally and fn London, has opened offices as an auctioneer, surveyor, valuer and estate agent at Victoria-chambers, Bank-plain, Norwich.
“Leeds, from a Surveyor’s Point of View,” was the subject of a paper read by Mr. John Hepper, last week, before the Leeds and Yorkshire Architectural Society. A report of the paper appears in another column.
At a meeting of the Deptford Vestry, on March 9, Mr. Horatio Kemp, auctioneer, of 179, Queen’s-road, Peckham, was elected overseer for that part of Surrey in the parish of St. Paul’s, Deptford.
Messrs. Richard Stafford Charles and Walter Burnell Tubbs, carrying on business as Charles and Tubbs, auctioneers, surveyors and land agents, at 1, Gresham-street, London, E.O., and Littlestone-on-Sea, have dissolved partnership.
Mr. Daniel Watney, P.P.S.I., on Saturday, continued hearing evidence at the Surveyors’ Institution in the case of “ Batchelor v. Bromp-ton, Chatham and Rochester Water Company,” which was a claim for £78,950 in respect of brickfields at Chatham. Several briekmakers gave evidence, and the case was adjourned.
Messrs. William Pope and Son, auctioneers, surveyors and valuers, of No. 20, Bury-street, St. Mary-axe, E.C., are now extending their business, and will give special attention to drapers, outfitters and allied trades. Mr. Wm. Pope has had 30 years’ experience at Downham Market, Norfolk, and elsewhere.
Messrs. H. Webb and Milton have commenced business as auctioneers, estate agents, surveyors and valuers, with ground floor offices at No. 28, Pall Mall, S.W. (opposite the Carlton Club). Mr. Webb was for several years with Messrs. Debenham, Tewson and Co., and subsequently with various leading West-end firms.
Mr. W. S. Cooke, the official valuer and surveyor k> the London School Board, has this week ^ written to the daily papers explaining the circumstances connected with the raising of the rents of four houses in Albion-streefl Bow, of which the Board recently became proprietors, from 9s. 6d. to 11s. 6d. a week.
Mr. W. J. Peirce, son of the late Mr. W. J. Peirce, auctioneer and valuer, of Northampton, has recently commenced business at 5, Dern-gate, in that town, as an auctioneer, valuer, house and estate agent. Mr. Peirce has had 14 years’ experience with a leading firm of auctioneers in the town, and he has already received the strong support of his fellow townsmen as well as that of the farmers in connection with the cattle market.
CARTER’S
TESTED
GRASS SEEDS
FOR
RENOVATING THIN TURF
In Golf Links, Pastures, Meadows, Price from Recreation Grounds, Cricket Grounds,
' Racecourses,
per Acre. Tennis Courts, Lawns.
GRASS SEEDS
FOR ALL PURPOSES.
For fall particulars see
CARTER’S PAMPHLET ON THE MANAGEMENT OF GRASSY GROUNDS,
Gratis and post free.
THE QUEEN’S SEEDSMEN, 237, 238 & 97,
HIGH HOLBORN,LONDON.
Early in February we wrote : —“ The statistical position of copper continues to improve, the stocks in hand and in sight on January 31 being only 26,015 tons, as compared with 27,896 tons a month previous. Thus, within a month, there has been a decrease of 1,881 tons, and during that time the price of copper rose ever £12 per ton. Since the statistics were compiled there has been a further advance in the price, which is now near £73, or nearly double what it was two years ago. There is a limit to everything, however, and we are inclined to think that that is now within sight. By reason of a ‘rig’ the price may be got up higher, but if the market is left to itself to depend upon supply and demand, we venture to think that no׳ further rise would be possible.” Well, the market during the last few days has been left to itself, and the consequence is that the price ■has got down below £70. An attempt has been made at manipulation, but without -success, and it is probable that there will never be a return to the prices prevailing when we wrote in February. Many new mines are being opened up, and1 some of the older ones, which have been temporarily shut down, have recommenced operations. In the course of the next few months the effect of this increased output will be seen, and then, if the demand does not keep pace with the supply, the price of the metal must fall away. American advices report the formation of a copper trust with a capital of £200,000,000 ; but, despite the capacity of the Americans for big things, we think this is a little too large to! swallow.
* * *
A very gratifying piece of intelligence comes from the “Times” correspondent at Buenos Ayres; It is to the effect that the Argentine Government has telegraphed to their military commissioner in Germany to arrange with Herr Krupp to supply 500 kilometres of a Deeauville railway instead1. of the guns and armaments previously ordered, which have not been supplied. The railway is intended for Patagonia. If ■some other countries of a warlike disposition would only follow suit and devote the money which they intend using for armaments to the development of trade and commerce, they and the world at large would be ail the richer.
* * *
Reference was made in this column recently to an agitation which was brewing against the directors of the North British Railway Company. It was a shareholder who first raised dissension, and now one of the directors has joined in the movement, and is circularising the shareholders asking for proxies and support to introduce new blood to the board. He makes many charges against his co-directors, foremost amongst which may be mentioned neglect of duty and a tendency to shift the control of the railway on to the shoulders of minor officials. We think that Mr. Grierson is hardly fair in his charges, and he is not likely to get much support in face of the very satisfactory report which the directors have just issued.
* * *
Tenders are being invited for shares in the United (Harmans) Exploring and Development Company, Limited, which is a reconstruction of the Harmans Development and Finance Corporation, Limited. We are curious to know how many of the new shares were taken by the old shareholders—not many, we should think, as there is little prospect of the new company being a greater success than the old. There is too much of the old regime left to induce any confidence in the new undertaking.
* # *
Addressing the shareholders of the Metropolitan Electric Supply Company, Limited, at the general meeting on March 14, Sir James Pender, M.P., said they had gained a considerable increase of business, which was- not altogether shown by the growth of revenue receipts. This was accounted for by the large reductions they found it necessary as a matter of policy to make in their rates of charges to customers. In addition to the desirability of conciliating local authority they had to meet competition and to provide for further competition before the alteration of their system of distribution and the completion of their new generating works had placed them in a position to make this reduction profitably. That, in a nutshell, was the principal reason of the reduction in the dividend and the increased expenditure. The Welsh coal strike was also a serious matter. It not only entailed the use of unsuitable and expensive fuel, but had ¡eft behind it a legacy of increased prices, whicli they feared would be maintained for some time. They were, however, fully confident of tile soundness of the company’s position, and looked forward to the time when the rate of dividend paid last year would not only be again reached, but exceeded.
No. 19, Kingsholm-road, Gloucester, has been sold through the agency of Mr. William Dancey, of Gloucester, at £350.
Citji topics.
[SPECIALLY CONTRIBUTED.]
Bank Rate 3 per cent (changed Feb. 2,1899).
It used to be said that London on a Sunday was the dullest place on earth, there being, so little going on. No longer can we claim to keep the Sabbath -as the Commandments teach us to do. Sunday in London is becoming much the same as the Continental Sunday, but with this difference that whereas on the Continent it is the day for holiday-making, we are making it a day of toil. We are prompted to make these remarks by the announcement that the proprietors of the “ Daily Telegraph ” have arranged to publish on Easter Sunday “ The Sunday Daily Telegraph,” which is to “ carry on the week’s ■doings׳ in an unbroken fashion.” Surely there are enough Sunday papers that the proprietors of the “largest circulation” might let well alone, and give their staff and the public a well-needed rest once a week. And will not the innovation lead to a newspaper war 1 If the “ Telegraph ” is to come out seven days a week, will not some of the other great dailies have to follow suit? Then we shall have to open all the newspaper shops on ,Sunday and goodness knows wh'at else. Are we not living rapidly enough, without going the pace any faster?
* * *
It is becoming the fashion now for rotten mining companies■ to combine and amalgamate, thereby covering up past transactions and enabling the directors to get in more money to play with. In certain cases where the interests of the companies are identical, and the scene of operations is the same, amalgamation means a saving of many administrative charges, but it has to be considered first whether the companies are worth keeping alive, and with some of the amalgamations which are uotv being proposed it is certainly not desirable to proceed. A case in point is the Phoenix Gold Mines, Limited, which has been formed to amalgamate and carry on no less than 11 different properties in Western Australia. Not one of the properties has rendered a good account of itself under individual management, and we cannot see that any success will attend any one of them if amalgamated. The proposed capital of the combined undertakings reaches the stupendous sum of £750,000.
* * *
The death of Mr. Stewart Pixley, of the firm of Messrs. Pixley and Abell, the eminent bullion brokers, has been received with widespread regret in City circles, the deceased !having endeared himself to all who came in contact with him. Mr. Pixley had not taken an active part in the business for some time past, but he was in fairly good health until a few days ago, and his death came as a great shock to his relatives. In the early -days of the Volunteer movement, Mr. Pixley was a very prominent member of the force, and he was even successful in carrying off the Queen’s Prize at Wimbledon. The surviving members of the firm are the three sons of the late Mr. Pixley.
* * *
A circular is going the rounds inviting applications for Ordinary shares in the British Securities Company, Limited, and in case any of our readers should not understand the true character of the appeal, we take the opportunity of putting them upon their guard. The business of the !company seems to be that of a “ bucket shop,” though the directors state that the profits are made in “various lines of investments on the Stock Exchange.” We should like to know the character of these “ investments,” the nature of which permits of the company “ guaranteeing ” 12 per cent, interest on its Ordinary shares, and of their holding out promise of dividends of 36 per cent, per annum over and above this “fixed” amount. The whole thing seems so audacious that even the promoters must be astonished at their own proposals.
* * *
We welcome a new edition of the “ Directory of Directors.” It is a most useful publication, and were it, studied more by the would-be investor, much money would be saved. For here at a glance we have the record of the men who direct our joint stock companies, and by their connections so they should be judged. Thus, if we find a man connected with a string of companies which have never done any good for ■their shareholders, we may safely say that any new project in which he appears as a director is best left alone. Of course, taken by itself, the work is as Greek to the average mind, but used in conjunction with the “ Year Book” and the “Mining Manual,” it is invaluable. And no one who follows Stock Exchange investments would be without any of these works of reference. We gather from the author’s preface that in the past year as many as 1,800 persons ceased to be directors, and 2,600 new men came into office, so that the number included has increased from 16,800 to 17,600. We wonder how many of the outgoing directors were influenced by the more stringent supervision which is now being given to joint stock enterprise?