Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1909-12-26
TO HAVE AN
UP TOWN DISTRICT
LIKE NEW YORK
CONGESTION IN THE LOOP"
FORCES EXPANSION
Rents Go Up as the Skyscrap-
erS Grow Taller and Economy
Points TO a New Business
District.


llN0 IIHf
DlolllCH
-
~
'n''"s"' Dee' "'''N'"""
ot business within the four
square miles of Chicago's downtown
district. cncircled by the strangling
elevated loop" has reached the burst
point and 1910 will sec the crea-
lion of "a distinct uptown district
south much as in New York.
The beginning Of the new district has
been made i'm a nciphborhood which
Twenty-Five years ago included some
Of Cbicago's most exclusive homes.
among them that Of Marshall Field.
Now one Of these mansions has been
bv the Consolidated Casualty
for It's general offices. start
an exodus from the congestcd dis
Irlct of hiqh rents which will increase
he area devoted To business many
old and marking an epoch In the
.fty's ernwth. The Gloon includes
now fhe most eougastod area ia the
tvortd wber. is conducted almost
Ibree- fonrtbs of the retail ana office
ma practically all of the banking. in
ana professional business OF
t7gg had a bigger downtown" area.
Nov lvscrupers whicn house from
TO five thousand persons have
not been sufficient TO take care Of
no rapldlv roving business Of CHI
-apo and as rentals Increased with
The increase In height Of buildings
no example Of this big Insurance
company promises To start a STAN
pede among those concerns which can
their general offices TO a point
outside the loop district. The prop
-rty bought by the Consolidated com
any. Of which Robert Il. Armstrong,
O. former assistant secretary of the
States treasury. Is president.
Was the home. twenty-five years ago
Of one OF the most prominent faml-
lies, that Of George Manierre. Teie-
phones ana other modern business
coutrivances that eliminate amt ana
distance. will connect these general
offices with a downtown oliice Whlch
will be large enough 10 handlc ioca'
business. The annual savings III rem
ials, II Is said, would pay the interest
on several A-ndred thousahu u"iioiS
Tho Farmers uhloh' WIN in0'n"oi
snip oi huhdrtus OF thousd"uH St"'
through many states nus acVNt
" joined the Postal savings n"nN
league IN lts efforts T." secure :"
spite OF the Cahhoh-NIuIloh p"S9''
enactment OF the Postil saN'hss
pnnk bllis Whlch are no" pe""''iS -"
senate and mouse sp"hs"ie" pS
senator carter ana 'ohsI'ss"""i
The legisiattNe commute VI
the National Farmers union VIII DC
represented AT washington "iteT 'he
holiday recess I" tohoW up the u''i"r,
Twice maze ny tht natlonai
body urging the need thal 'N's'a ipr
a postal bnhklhE system as "h alu 10
the thriit OF rutnl dlslllets' me
scarcity ~ banking iaciilues is SHOWN
hS the TACT that the banh'Ts hhVA-
clopedia gives h names OF @z'ooV
villages. towns ana cities Where no
banks exist Ihe recent report OF the
oil inc CURRENCY Lawrence
o. Murray showed th'l thlrty-iouf
countries nave postal banking systems
IN operation WIN . '"taI hummer o'
ltposlturs ct over ~4o,Opp'ooo' WIN ue-
posts totaling ahout $l'oVo WV his
added mat the average deposit
has decreased trom S't'fl TO $i'S"' q
lnct significant OF n uulity oil inc
'hss' Tor Whleh purpose frcs'ueh'
luit ln his recent message espeVhaily
commended the system TO congress for
adoption In the United states. The
dramatic element IN the contest be-
tween the friends n foes OF this
measure which now forms the biggest
before congress r. the tremon-
lous financial strength of the foes,
.hc banking interests, against which Is
pittcd only one organization, the POST
ii savings Bank league. with head
quarters ina Chicago. which for months
bias been making every effort possible
.n stir tho uuhiic to do those things
which would DC Iolt in the halls of
Tho hubble domand for lit
and speakers has far exceeded
.h, funds from ,pembcrsbfn f,es and
.ubscrirtions Chairman Georee ~
.utri,r who ha. himself ptvon u,,or-
tUN a., tn. ,,i,ee ia. nointc1 ,,,t ~.
,o,trdl, ,f lar. tb,t ,i.t,r, ID, $50
q" LH