er &
Bros.), and others equally well known in the financial world.

MADISON SQUARE comprises about ten acres, and lies at the junction of
Broadway and the Fifth avenue. The latter street bounds it on the west,
Madison avenue on the east, Twenty-third street on the south, and
Twenty-sixth street on the north. It is nearly square in form, and is
beautifully laid off. It has no fence, and this adds to the appearance
of space which the neighboring open area gives to it. The Fifth Avenue
Hotel, the Hoffman, Albemarle, and Worth Houses face it on the west, the
Hotel Brunswick is on the north side, and the Union League Club House and
a handsome Presbyterian Church are on the east side along the line of
Madison avenue. The land now included in Madison Square was owned by the
city from a very early period, and was used as a Potter's Field. In 1806
it was ceded to the United States for the erection of an Arsenal, for
which purpose it was occupied for several years. In 1824 the "Society
for the Reformation of Juvenile Delinquents" obtained possession of the
Arsenal grounds, on which they erected a House of Refuge, which was
opened January 1st, 1825. This establishment consisted of two large
stone buildings, and the grounds were enclosed with a stone wall
seventeen feet high. In 1838 the House of Refuge was destroyed by fire,
and a few years later Madison Square was laid out. It is now one of the
most fashionable localities in the city, and the favorite promenade of
the up-town people, who are drawn here in great numbers by the summer
afternoon concerts of the Central Park Band.

RESERVOIR SQUARE occupies the site of the old Crystal Palace, and lies
between Sixth avenue and the Croton Reservoir on Fifth avenue, and
Fortieth and Forty-second streets. It has recently undergone great
changes. It is a very pretty park, and is much frequented by the nurses
and children of the adjacent neighborhoods.

X. THE FIFTH AVENUE.

The Fifth avenue, commencing at Washington Square, or Seventh street, and
extending to the Harlem River, is said by the residents of New York to be
the finest street in the world. It is about six miles in length, and is
built up continuously from Washington Square to the Central Park, a
distance of nearly three miles. From Fifty-ninth street to the upper end
of the Central Park, One-hundred-and-tenth street, it is laid with the
Nicholson or wooden pavement. It is being rapidly built up along