The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1909-06-23
ROMANCE OF real ESTATE
BY FREDERIC j. HAsKIN.

perhaps true that if the money. paid by
William Penn for Pennsylvania had been
. compounded from then TO now its amount
would be equivalent TO the assessed value
OF all the lands acquired.
Rev York. of course. affords the pest
example Of the growth OF realty tail2s s.
and in that particular leads the Waols
world The recent prObating of the Witl
OF Mary G. Pinkney i'm that city IS
shining example of the fortunes that have
Deen made there In 1926 the price palu
for the John Delaney farm was at Or
rate OF Sl,352 per city block iodaF DO II
/ worth S50.Vl0 per block The Flnkney
estate, only q remaining portion or lnat
farm, was valued at S1g,000901. John ia
| coo Aston had partner when he start
ed into the real estate business. ne
partner bought land down close TO tn
battery and held Il. Aston bought and
sold over and over again buying ahead
OF the march of progress and selling IN
. its wake. Each made his millions. but
Aston made ten million where his part
ner made one million.
The purchase of land for the establish
ment of parks is regarded by some as
an unWlse expenditure OF pubic iunQs-
But entirely aside from the incaleuiable
benefits derived from the creation of
these breathing places, parks represent
good Investments. Central park, New
York, cost the city. together with the
| improvements put on it, S15,9000JO. Count
ing interest on the investment. its coal
| today represents SEQ 100000. Yet realty
men say that if the city should decide
/ 70 close out It's holdings IN central PARK
500, co., 900 could be realized therefrom- In
every other city OF the country the same
principle obtains
Sometimes the spirit Of speculation
changes the entire trend Of a city
growth Nowhere else i'm the world is
this better eXempified than In Wasnln6-
ton. There is no section Of the national
capital more admirably situated Ior res
idential purposes than Capitol MIL The
ton The Goddess of Liberty was MADE
20 face that way, and the tolnoers On
the city thought the trend OF growth
would be In that direction. But the spec
ulator got possession Of the land tnefS
and IL was held at what tleH seemed
such fabulous prices tnat inc tde OF
grown was forced BACK INTO IHe less ue-
The railroads have been among the
greatest FACTORS IN the aeEeiophenI OF
real estate Ealues ll IN IhlLeu oJa1gs-
Nhen Lhe Ifst ram al was utiil III
America the extent OF -He coutlli5litai
territory or the United states was Two
Jnlros OF what lI IS az present, di-u 81
though billions OF dollars worm OF nat
uTal resources nave been taken OH tlle
edFJh ana out OF us DoeoM since tli9u,
that part OF the CnlJeu STATES Is nov
worth more than sixteen times as much
as II was then, seventy -tNe years aEo.
n Ialr esuIlate or Wnat IdllIga ~
means TO a community may De reached %.
another way suppose new Hne OF
road is built into an undeveioped sec
ton OF country ana LnaL lle resulting en-
hancement of land values amounts 70
only SO per acre for five miles on either
side of the road. On that basis every
mile OF rdlirOdd bullt Wolio result ~ an
increase Of $4,000 in real estate values.
Compare this with the cost or the aver
age mile OF railroad IN the united STATES
and Canada, and 1t Will be found mat
even on this basis a community gels
direct benefit equal TO the cost or Dulld-
ing a railroad through IT, to say nothing
of the indirect BENEFITS conferred
The Interstate commerce COMMISSION lls
ures that tie average mile OF railroad
therefore, that if there is any Overcapi-