The Airs of the Forgotten Quarter are wistful.
The Quarter is still. It changes when you're not looking.
This is an environment variable that changes randomly when you take certain actions in The Forgotten Quarter. It unlocks certain options in storylets like Pursuing an Archaeological Expedition and Seeking Curios and Secrets in the Forgotten Quarter.
To find out what its current value is, go to the Myself tab, click the icon next to Scrapbook Status and select it from the array of choices that pop up. Then open your profile in a separate window as http://fallenlondon.storynexus.com/profile/(your character's name) to see the number next to the Scrapbook Status icon.