Perth Amboy evening news., 1906-12-27
WORLDS GOLD SUPPLY.
Yellow Metal Distributed All Over
Earth-Found In Volcanic Rocks.

More comment among real estate
dealers and builders in New Jersey
has been o~ccasioned during the last
six months by the amount of New
York capital which is going into New
Jersey real estate than by any other
subject that has come up for general
discussion in real estate circles for
many years. This fact has had Such
an influence on the prices of New
Jersey real estate n to cause one of
the best known real estate dealers
in Newark yesterday to say: "If |
did not have n hundred other ca
sons to believe in the stability of the
present boom in New Jersey real es-
tate, the one fact that New York is
competing for land in our state at
the present time would be sufficient
to remove any doubt that | might
otherwise have. One of the health
est signs / have observed in the last
six months is that New York capital,
even in great amounts, is unsuccess-
full in obtaining many desirable hold
ings in our cities and suburban dis
tricts. The fact that New York can
not buy what it Wants proves to my
mind that New Jersey real estate
owners realize fully the great future
values of our land and are holding on
to it.. Even these facts might fail to
convince a pessimist, and for the ben
eft of that class of persons, | wish to
emphasize the fact that the majority
of our large purchases of real estate
are for home building, and not for
pure speculation. New York buyers
who are seeking real estate in New
Jersey are also planning to build ex-
tensively to meet the demand for
homes for the working classes.
Competition in real estate has
never, to my recollection, been sharp
er than 1t Is now in the desirable To-
calities in and about Jersey City,
Newark, Paterson, Passaic, Eliza
beth, Perth Amboy, the Oranges and
Montclair, betVeen New York capital
and New Jersey holders. New York
Is apparently convinced hat New Jer-
sey needs 10000 homes for working
men, There is a good deal of New
York buying in large tracts. One
purchase of considerable was made
within the last two months in Vero-
ma by a New York concern which Sc
cured some fifty acres for home build
ing. Last week representatives of a
New York syndicate failed to secure
two tracts which they desired most.
One of the pioneers in apartment
house building in the Oranges has re-
Gently received an offer from a New
York syndicate to purchase as much
as 10 Ncity blocks, for the purpose of
building apartment houses and two
and three-family structures for rent
ing.
A good deal of the land either pur-
chased or under negotiations, between
the present New Jersey holders and
New York purchasers, on the out
skirts of our cities, is for factory
purposes. A feature of the situation
is the building of wage earners
homes in direst connection with a
number of industrial enterprises
which have recently come to New
Jersey. An instance of this may be
found in Jersey City, where a New
York real estate dealer purchased
fourteen acres within the city limits,
upon which he is now building a fac
tory, and will eventually build TWEEN
three-family houses for the ac-
of HIS own employees. A
enterprise is about to be UNI
iertaken in Newark and two have al
ready been successful in Elizabeth.
AT Perth Afnboy 4 syndicats compcs7
I'd OF New York owners of Perth AM.
boy industries Who arc doubling the
capacity of their plants this year. arc