New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-04-07
MANY REALTY BA RGAlNS
INVESTMENT ZONES FIRM.
Joseph P. Day Gires HIS Vie1os on
Other Important Subjects.

hers of the class were present, large part OF the
/ hall being occupied by visitors among "hoih were
| 4 number of Fifth avenue builders PROMINENT
! operators on Washington Heights ana several ledu
t ers in downtown investment zones.
Tho sneaker of the evening Joseph P Day
| +bo nell known auctioneer and broker Mr.. Day
cold that he would seek TO find satisfactory
.,.,,er IN snv questions relating TO real estate
subjects asked him. He hoped the query noA
would be kept full and, acting on that susses
! ton his hearers lost no time in complying WIN
/ hIs request Some of the questions asked MN
,,,5 reeor,re the services of a body of legal ex-
| merits 10 decide and others were framed III suCH
stvIe that they at first appeared to be Word pu%ZeS
! Before replying to the questions MI. Day caileu
attention to the many opportunities that tie scIoo
had afforded young and old men TO oroddel t'eii
minds on matters relating TO real estate
..Con,petition is keener to-day said Mr.. Day
/ than 1t was five ten years ago. Ihls sharpe
business rivalry is evidenced on all sides III many
WAYS Until this class was started IL was not pos
eihIe for a person about TO enter the real estate
field TO become acquainted quickly with most OF the
EXPERTS in the various branches of the business
He had to acquire such acquaintanceship by visit
ing the offices of the real estate leaders or meet
Ing then, at dinners in business transactions or in
other ways.
THE members Of this class enter or resume their
activities in the real market better equipped
to strive to reach highest pnnacles of success
in their chosen field of usefulness. They have
learned from realty leaders the methods of the ex-
perts in the renting line, how many experts close
realty contracts. what are the qualifications neces-
sary to be a successful appraiser what steps are
required TO succeed in the brokerage business and
also have obtained in detail the methods used in
the business of the auctoneer and in many other
lines OF the real estate market"
Here. in such class. one is best able to per-
ceve the personality of the speaker. and to feel II
You of the class are to be congratulated for hav-
ing enlarged your powers OF concentration
Whether you know II or not you have enlarged
YOUR power in that respect by attendance here.
BY turning aside evenings enjoyment to
listen and 10 analyze the realty problems that
have been presented here, you have had to concen-
trate your mind matters of great Importance 10
the realty growth Of the greater city, and the ef
forts that you have made to broaden your mind
on such important subjects reflect themselves IN
your careers in the real estate walks"
WANTED ADVICE on INVESTING.
Then MIR. Day turned the query box and
answered all the questions that II contained and
also many other queries. one person wanted to
know II a with capital Of 5000 could bet
ter invest his money in Jamaica property than in
The Bronx lots.
That IS a very Leading question" replied Mr..
Day. 1T all depends upon what the prospective
investor is thinking Of buying at Jamaica and
what he is going to get for his money. II you
use Judgment. an Investment in Jamaica will prove
a profitable to such n man. man with
judgment would also find a profitable field in Tho
Bronx. even on a capital Of Ana. And the same
answer relates to the New Jersey and other in
vestment fields"
The success Of an investment usually depends
on the degree of the judgment used in buying I
think II Felix Isman, who you recall came
from Philadelphia few years ago. and in "A short
time became one Of the largest buyers Of Man
haitian property. who said that there were many
opportunities for safe Investment on Manhattan
that the chances OF success in favor OF the
buyer were % per cent. and that that percentage
did not relate TO OF keen Judgment. but TO a
buyer Of average ability
Another person wanted to know II il was fair
TO the city 10 be compelled to operate the municipal
ferryboats between the Battery and Staten Island
at a loss. and II Mr. Day did not think that the
property owners Of Staten Island and other per
sons who use the ferry should pay more for such
use that the service would not be conducted
at loss Mr. Day replied that those who use
the ferry and the persons OF Staten Island. both
rentpayers and taxpayers, were entitled TO good
transportation.
But doesn't the taxpayers Of Fifth avenue con-
tribute in the form of taxes large part OF the
moneys appropriated that ferry. and should
they be compelled to bear that BURDEN" was asked
MI Day said that this question had resolved It
self into discussion most important civic
topic. The Fifth avenue taxpayer" he added.
got full value for the he paid as taxes.
The taxpayer OF First avenue helps to pay for the
maintenance of parks such Central Park. and
the cry might be raised. What benefit does his
First houses get from Central Park? Such
taxpayers might also ask that the park be brought
over to First So you what may appear
to be of no large benefit to class of taxpayers
is great benefit 10 another large class of property
owners
FAVORs HUDSON RIVER BRIDGE PROJECT.
Another person wanted know If Mr.. Day was
IN favor Of the building OF bridge the Hud-
River.
He said:
When William .. McAdoo made public his plan
for linking the New Jersey and Manhattan shores
with his network tunnels there were many prop
ery owners of this city who vehemently exclaimed
that this tunnel system would tend TO arrest the
growth Of the greater city and build up the
pense of this city many New Jersey districts. on
the other hand, many Newark merchants were in
clined TO the opinion that such direct line Of
transit between New Jersey and Manhattan Island
would result in many customers of their stores do
ing their shopping in New York.
Time has already proved that Mr.. McAdoos
tunnel system has benefited the building growth
the greater city a large extent and it has
made many New Jersey districts attractive
investment fields. Neither Manhattan New
Jersey has gained at the expense OF the other the
benefit resulting from the tunnel system being
widespread
II am IN favor of the building Of the proposed
bridge the Hudson River and If the question
had been left to number of realty experts with
whom l am acquainted the site for the bridge APP
proach the Manhattan side would long ago
have been selected. and that site would be at or
57th street. All these rapid transit projects
and bridges VIII help to relieve the at
the congested residential of the city and will
create large commercial centres
"A person who has carefully studied the growth |
OF the city has prophesied that in less than one |
hundred years there will be a single dwelling
house 1athouse south of seth street. the entire
district being used for retail and wholesale bust
ness.
I'm my dealings with Jerseyites I have learned !
that most of them slow of action and seldom |
see the opportunities in their neghborhoods for in
lar until