Evening star., 1906-03-24

Is everywhere received as a distinguished
clergyman and not as diplomatist.
The large vacant space between the city
and the Castle of Chapultepec which Tor
centuries has been used for gardens and Tor
the pasturage of horses. COWS and goats, is
now being rapidly filed with beautiful
houses, and this Improvement Is conducted
on a novel plan. Four or five land COM
pauies have been organized for the purpose
under the supervision of the government
Building Companies.
The American Colony Company. which
believe was the original promoter of this
Improvement, bought a large tract of land
and laid 1t out in twenty blocks and 500
building lots, upon which were erected at
tractfve modern houses costing all tie way
from $4,000 to s12J,0o0 cash The addition
was severed and paved, am water. gas
and electric light were supplied at The ex-
pense Of the land company, but the cx-
penditure for such PURPOSES will be re-
funded by the government in installments
during term OF fifteen years. The larger
part of these houses were sold at cunsio-
erable advance above their cost. The conl-
pany still retains several that will be rent
ed until purchasers can be found for them
The investment has been exceedingly Pre- fit
able, and the operators, who represent New
than 100 per cent dividends upon about
SG,O00o00 capital. They have advanced the
price of lots from "a ,,nd 81 ID So and SIS
per square meter, and still have some land
remaining.
The second company, known as ''The
Colonia Roma, represents about $4,000, 800
local American capital 1t purchased about
800 building lots and has erected fifteen or
twenty houses which are being sold from
$4,000 10 $4,000 each and will continue
until all of its land has been covered
Inc tnlrd company, known as The Colo
ma Cuauhtemoc, represents an investment
OF about $GO3,ut0 in land by a Kansas City
company promoted by Arthur K. Stillwell,
the railway builder, of whom l wrote you
yesterday. He originally called ii ''fhe
Colonia Stillwell," but the government in
duced him to substitute the name of the
last of the Aztec emperors for his own.
Mr.. Stilwell and his associates have 100
building lots, which cost them all the way
from - cents to So u square metre, and
are now asking from $15 to $50 square
metre for the same property, which indi-
Gates the rapid increase in the value of
real estate at the Mexican capital.
The largest of all the building companies,
consisting entirely of Mexican capitalists,
has invested between S2,000.O00 and 81, co.,
oo9 for tract of land between the Ameri-
can colony and Chapultepec, and they are
eXpending fully as much more in laying
sewers, gas, water, electric light pipes.
pavements and sidewalks. They will have
altogether about 5000 lots. and although
they have not put any of them upon the
market, the valuation has increased from
$50 ard 81 to S12 and $50 per square metre.
The Colonla Condessa' as the association
is called will follow the same plan the
CoIonla Americana and VIII erect hrst-
class, modern mansions of stone and brick,
costing from $25,UJ0 upward. and selling
them at an advance
Under Government Supervision.
All of their operations, like those of the
other companies, are under the close super
vision of the government, and inspectors
are constantly present to see that the regu-
lations are carried out. AS in Germany and
France the architectural designs must
form to certain harmonious standards and
are subject to approval of the government
architects; the thickness of the walls, the
projection against fire and the sanitary
rangements are all regulated. No is
allowed to build inferior houses In that part
of the city If such an arrangement could
be enforced at the capital of the United
States, the beauty of that city would be
very much increased. But the Mexicans
are more submissive than the Yankees.
We may call these building regulations
arbitrary and unrepublican. but they are
nevertheless for the public welfare and
President Diaz and the members of his gov
ernment are entitled to the congratulations
of this and the gratitude of future genera
tons for keeping up the standard of archi-
lecture and beautifying the city.
In order to prevent a real estate craze
and epidemic of speculation, no more
building associations will be permitted The
additions which have already been laid out
must he built up before any other schemes
of the kind VIII be permitted This is also
arbitrary, and unrepublican, but it will
protect the capital of Mexico from the spec
ulative disasters from which so many
American cities have suffered Any citizen
may buy a plot of ground in any part of the
city where he finds it for sale, and may
erect residence thereon under the general
laws and regulations, and therefore the
public are not compelled to buy of the COM
panies | have described; but for prudential
reasons no more land and building assocla-
tions will be permitted until those now in
operation shall have accomplished their
purpose.