New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-19

The announcement made the other day of the
final awards for the construction of the Penn
sylvania Railroads ssOO0O,OoO terminal. between
West 31st and 3Sd streets, Seventh and Ninth
avenues, where the work Of eXcavating has been
In progress for the last two years together with
q statement said to come from officials of the
road that construction work will begin June 1,
and that they confidently expect the building
will be completed and trains running into it
by the end Of 1905 has given rise TO much spec
ulation TO what effect the erection of this big
terminal will have upon the architecture, bust
ness and general character of the neighborhood
by which il is TO be Immediately surrounded.
What is TO be the future of this once back
ward and long undeveloped part of the city?
With the coming of the railroad will il descend
still further in the scale OF social and civic life?
From the unobtrusive if undesirable state of
respectable decay in which the railroad opera
tions found il will il sink to the level of penny
arcades and grog shops. or taking. to itself
little of the busy. busting life of the hurrying
throngs for whom the terminal is to be the gate
of Manhattan. will it bestir itself, down its
dngy old houses. and in their places build up
new ones which can be pointed to with pride by
the people of New York?
These questions real estate men conversant
with the situation are asking themselves just
now. and though opinions differ in detail. they
agree upon the main point that within the next
few years there will be such a change in the
character of this district as few have deemed
possible. Some think the change will be con-
fined to the immediate vicinity of the new sta
iion, while others are of the opinion that, al
though the property close to the station will
benefit little in comparison. that along Broad
way and Fifth avenue between oath and 42d
streets, must be greatly enhanced in value. and
will undergo many architectural changes
MAY SELL SOME LOTS.
The real estate men are also asking them
selves pertinent questions concerning reports
they have heard that the Pennsylvania road
may, after the completion of the terminal,
have land to sell which il bought but
will not need. The effect of such policy upon
the present high values maintaining in the
neighboThood would. say the real estate men, be
very hard TO predict this time. The SUPPOSE
zion in real circles has been all along that
the Pennsylvania had acquired only land enough
for its own use, and some persons worked
up the report that they questioning the
roads right to sell, if it can be shown that the
property in question purchased by the rail-
road company at forced sale supposedly for rail-
n road use only.
On this subject prominent New York lawyer
said the other day that land taken for specific
purpose under concentration proceedings could
not legally be sold again for any other use than
that for which it was taken. but in this con-
nectiOn he pointed out that a large proportion of
the land acquired by the Pennsylvania road for
Its terminal site secured at private sale,
having been bought in the of different
representatives of the road. There would seem
TO be no legal barrier, he said, to prevent the
road from disposing il wished of property
acquired in this manner
That the railroad company may offer land for
sale after the terminal is finished the
Inent Of Samuel Rea, third vice president Of the
Pennsylvania Railroad, made the other day In
a communication TO The Tribune OH the sub
5ect of the terminal developments.
I'VE do not intend" said Mr.. Rea any further
development than that indicated for purely rail-
road purposes. and therefore. may have consid-
cradle land for sale after completion.
Our investment in real estate in this locality
haI leen about s17,000.0OO, and it is our fnten-
ID 10 erect station which in its architecture
also accommodations will compare favorably
with any other station in the world. The opera
ton OF the railroad and terminal will be by
electric power, thus removing all Objectionable
features Of a great railroad station and adding
materially TO the advantages Of adjacent prop
erty.
ITO the west of station across Eighth
avenue. you Will notice that the United States
government Will a first class postoffice
building and eastward. between Seventh ave
nue. and Sixth avenue. will be the large terminal
station and hotel building OF the Hudson and
Manhattan Tunnel Railroad Company generally
known as the McAdoo Tunnel companies
From the character of DEVELOPMENTS