The Warner weekly sun. (Warner, Brown Co., Dakota [S.D.]) 1883-1885, 1884-03-07

Letter to Troy Times.-While men
die, new IcrK IVES. Her merchant
princes pass away, but the city survives
Che loss in the rush of an increasing
population. The tremendous central
ization of the business or the continent
on this spot forces it to a ccaselesa
growth, and then the centering Of trade
in certain localities here leads to values
which really seem fabulous. In the
more common streets 0f this city lan9
IS worth from 81 500 to $500, 900 per
acre. In the best part Of broadway its
valeui is increased to IS ,00gG0y,000p per acre:
but in the vicinity of Wall strees its
value is immensely increased, because
this locality is the money heart OF
America. The land on whichtthe Drex-
al building stands cost its present own
en- at the rate of $14, 900 per acre.
1t occupies the corner Of Wall and
Broad streets, which may be con-
sidered the most valuable corner o
this continent, and yet, when / was q
Broad street clerk, in 1910, this very
place was occupied by a hat store. Tie
corresponding value OF property in this
neighborhood has been illustrated by
the recent sale of the corner Of Broad
street and Exchange place, which was
at the rate of SIS, 900, 505sper acre.
Standing on the Drexel corner you
may see men entering their offices with
rapid step, and'n you could follow them
you would find that their transactions,
though of enormous sums, were accom-
plished with the smallest amount OF
words imaginable. No time to waste,
when so much is TO be done In a few
hours. The day here is from 10 to ]
o'clock, and one house, CTreyor s. Col
gate), closes an hour earlier. Such men
are always ready to act, hence there is
less need to talk. If any one attempts
a conversation he Will find
himself politely but posi-
lively neglected. Men may talk ai
their leisure, but not III the heaying and
excited street. Across from Drexels is
the United States treasury, where $685.
600, 900 of government funds are held,
and the real of the treasury on Pine
street, faces the great Turner building.
Close by is the old solid firm Of YER
miIye q Co., who are very successful
bankers. All around, as you cannot
but feel, is wealth, not in lands, or in
any representative shape, but in money.
Here money reigns. Money is the
theme. Moneyed men are only impor-
tant, and if you want to see them, just
come to this centre Of capital.
The tendency of business to central
ize renders the largest structures profit
able, and the Produce Exchange covers
an acre and q half. Its.rental will In
clude 800 offices, and the latter are in
demand at high rates throughout the
business part of the city. ID. Q. Mills
charges VS. per square foot on the best
floors of his immense building. Thus
an Office 15x20 will contain 800 square
feet, and therefore will rent for = ,70d
per year. The Boreel building in
broadway, being more distant from The
financial centre, is cheaper, and yet one
would think it dear enough, since the
rent is $6 per square foot. These build.
ings yield rich r~eturnss and generally
pay from ten to fifteen per cent. on the
investment. Ia the course OF a few
years the entire lower part OF the city
will be covered with buildings OF this
kind, and the adjacent landholders will
form companies and their property will
be represented by shares of stock.