The evening world. [volume] (New York, N.Y.) 1887-1931, 1908-12-05
Panic Stimulated Work in
Manhattan by Lowering
Cost of Construction.
BOOMS FOR SUBURBS.
Money Is Plentiful for Rush.
ing Delayed Operations in
Outlying Centres.

New York builders will end tho year
with total expenditure of 500, 600 900
for construction.
This is practically tho same as the
1907 outlay. 1t is $4,000, 200 less than
the cost Of building work in 1906, but 1t
Ia equal to that of 1905 and far ahead
OF the totals in preceding years.
That the outlay for 1909 will break all
old high records is indicated from plans
filed each week. They run from 80 to
l5o per cent. higher In estimated cost
than those for the corresponding period
year ago. With the great supplies
OF cheap money available for builders.
the investment in construction next
year is estimated at 5000, 900, ocO
Cost Less Since the Panic.
AS the financial panic came at the
end of 1907. many economists believed
that its depressing effects would be
felt severely by 1908 builders. But Man
| hattan's outlay for new buildings dur
ing the year to date has reached
SIS. ooo, 900 in comparison with $4,000, 900
for the corresponding period last year.
| Plans fled for new buildings during
several weeks past have exceeded In
estimated outlay those of the corre-
spending period last year by 100 per
| cent.
Suburban builders suffered more from
the after-panic year of depression than
did Manhattan. This was because the
suburbs are new investment territory
compared with Manhattan, where rem
tails, especially in business districts. are
as constant as the interest on Govern
ment bonds. Solid investment interests
in Manhattan took advantage Of cheap
materials and labor during the depres-
sion to build at the lowest cost. but
suburban builders, who operate usually
on borrowed money, could not afford to
pay the high interest rates demanded for
such speculative loans.
$1oo,ooo,ooo for Suburbs.
Yet total building OUTLAWS in all the
suburbs during a year of depression
which operated particularly TO restrict
such undertakings, exceeded 800, 600 600.
1t was $4,000 600 below the 1907 total.
All of the suburbs are running far
past their 1907 records now. however.
Plans filed in Brooklyn last week called
Cor an outlay of sl,52O,0Oo against $4,000
for the corresponding week last year.
Week before last the total was sl,575. l2J
compared with sisO.sG0 for the 1907 week.
The few preceding weeks showed $685.
200 in 1903 and 1854. 900 in 1907, s1.l63.40 In
1908 and s56s,5o0 in 1907, .l.305, 900 in 1905
and $5e3. 100 in 1907.
Queens is showing an even greater
percentage of gain, as are also the New
Jersey suburbs.
Bronx plans last week passed $1,000, 900,
while the corresponding week last year
recorded barely 500 600 Week before
last. Bronx plans reached $4,000 against
ss4, 100 in the 1907 week. Preceding weeks
showed $780, 800 against S125,765 in 1907,
S54s, 800 against s246,6OO in 1907.
Now Rushing Delayed Work.
Builders In the suburbs are rushing
work which was held back during the
year OF depression. New buildings were
needed year ago to discount sub
ways and bridges Now that business
confidence has returned capitalists are
more eager TO lend than builders are
to borrow.
OF the 800. 900 spent by suburban
builders during the past year $4,000
900 has gone into the Bronx. ST., .oO(
into Brooklyn. sl5. 100000 into Queens
$40, OOo,000 into the New Jersey suburbs
SO, 900, 900 into Richmond 100000 into
the nearer westchester. Nassau anc
SUFFOLK.
Suburban building has consisted large
y of one-family and two-tamily dwell
ngs. Almost as many have been bull
during the year as IN the 1907 and 1870
periods. The total output has exceeded
20.oO0. The 1900 construction Is expectec
i to reach 10000, because such houses arr
:. ...roas demand. Brooklyn .-s s..!
! $500 during the past year: the Bron;
and nearer Westohester, 1000; tho New
Jersey suburbs, 5000; Queens. 500, An.
over 5000 have been built in the suburb
OF Richmond. Nassau and Suffolk
Buy CarroIlton Home Sites.
, Carrouton Realty Co, sold q house an
plot at Bayhsmpton Park, Merrick. L
l.. yesterday to Frank Wolfe. OF Man
e ports steady buying on all Its proper
Bayhampton Is close to the rsilroa
station overlooking Great South Bay.
:, has the best concrete walks. gas, run
ming water, handsome cottages on plot
=, lOOxl00, costing $500 and upward Til
company takes sSoO cash and the remain
n c or nom Park is fourteen miles o,
n on three lines OF railroad-steam. elst
~ tric. trolley Lakewood Park is twer
=, ~ ty-one miles out, opposite the station
- Edgarton Square Is twenty-six mile
y away Hardwood Gardens II In ii
n heart OF the pines AZ Central Islip 70,
d ty-three miles out on the main line.
is Free Trips to Jersey.
w. C. Reeves d Co, viii run an excu
sion Tomorrow to Jersey Manor, Ste
Wick: g Re main ans 81 ths fsnnsy
10 and predict that the lots win be wort
500 n a year; The Psnnsylyanis
Is York and philadelphia in an hour
!, time.
A. agents al the Twenty-thlrd street fer
> e ia.aO O'Clock or cortisAdt street
ID President GresnhAum. OF Mstuch,
10 Realty Co. has bought 900 acres