New-York tribune., 1909-04-04


haitian ana Jersey shores, planned by the Penn
sylvania Railroad for the use Of Pennsylvania and
Long Island trains and the proposed large tunnel
terminal stations, forming important part of
that construction work. are nearly completed. and
on January next the first electric train Will be
By the Long Island Railroad from Jamaica,
Long Island. TO the very heart of Manhattan Island
or, in other words the palatal tunnel terminal
station a $50 street and Seventh avenue
This great network of river tunnels may virtually
he locked upon as d New Years present the null
titudes Of property Of the greater city and
10 The many hundred thousands of residents who,
while hot posseSsors OF real estate help by their
energies in ways make the vast
earning power OF real estate for which property in
tins city is noted. II will be of the most
splendid and most welcome gifts of the new year
that the city vii receive, and one which il will
treasure a one Of its priceless realty and
engineering projects
It's Importance in the development Of the vast
suburban area of Long Island is Yet fully real
lied To plan build and properly equip this inter
borough tunnel system and this interstate rapid
transit route VIII represent investment Of over
Sleo cao0e Of which $50 10000 viii have been spent
by the Long Island Railroad for the electrihcation
Of various lines within tile suburban area and
the building Of suitable stations to accommodate
present and future needs Of passenger traffic along
these lines.
No suc4 gift would be of the utmost value from
real estate point Of view unless its chief aim
reduction ia the running time OF trains between the
foremost factors this rapid transit develop
raent work and therefore when the first train is
over the line New Years every town, village
and hamlet the island east OF Long Island City
Hin be brought much nearer. regards running
cf trains. TO the principal business and amuse-
raent centres as Vel - the residential zones not
only of Manhattan Island and all the suburban
territory north and south of it, but also 10 the main
district Of Jersey City, which is rapidly growing,
and - Newark. of the progressive cities
.r1- .r5g anl he ms M
residential territory in the New Jersey SUBURBAN
sone
q, nen the plans of the Long Island and Pennsyl-
Vanis railroads were announced some years ago
there great rejoicing in real estate circles and
hundreds Of Nideawake investors and spectators
hurried ID Long Island become identified there
with more OF the development projects which
haze been feature of the realty trading there
since that time. For many years previous to this
realty movement the island notable popu-
lar summer resort and of the sales resulting
iT development Work III these days were primarily
due its realty strength a. one Of the most
charming places in which 20 whe away the sum-
months
This earlier development work did attract
Widespread attention. did it have especial
appeal the great masses Of residents Of this city
Vho make up the thrifty class Of working men and
women. To and occupy house on Long Isl
and was At that time luxury most of them
and luxury which could be enjoyed fo- only
month or little more al the most, in the hot
days Of the summer season
Inability 10 get easily and from the many
charming seashore places was one Of the
greatest barriers which retarded years aso the
rapid upbuildinC or the island. This barrie: has
been swept away 10y the concerted plans OF the
Penns,lvania and Iong Island railroads and the
work OF various large developing concerns and
money lendins companies has made possible the
iTnproN erlont of long stretches OF fine suburban
land the island. either ail-year honlestCs or
for summer residence. II Is now possible only
4-- ~g,-
ocean. bays and rivers OF the island. or located
some distance from the shore front, rental less
rhan paid for the average fat in Manhattan Island
sut to have and 10 hold ir fee simple lite the
property on terms easily payable
MORE MONEY CHANNELS NEEDED
There is still .Ise drawback, notwithstanding all
this wonderful rapid transit work which has
move. Ihs water barriers separating Long Island
from Manhattan Island ana Manhattan Island and
Long island from the New Jersey shores 10 the
Development II scores CT ine residential
o. the island ,u = Scale commensurate with the
importance yf these tuune- projects. Many OF the
leading real experts appear be happiest i
ale = said at~''' ths drawback. bat IL forms
of she principal realty problems I'm the shaping
uf ba!iding operations. particularly. those designed
for the encouragement cf Rome building among the
masses. its early solution IS necessary. so that
tisue VIII be faW in the foundation of ths
great suburban lie, cioprncnt work which means
= much MANY hundred thousands Of residents
ef this city who desire ta live least part #
the yeag as much outdoors possible and in
l.seations where roul breezes and sunshine are 20
be had in abundance
This drasba,k is me uarrowness % money chan
nels affecting home building Long Island II is
not only largely in evidence "a nearly every re-i
Dental of Long Island. but in most a ,h.
suburban Settlements within the metropolItsn
area That T. is ore % TIE most ilnnortan;
factors in building operations Of the suburban re-
sions of the greater city IS known 10 ever,
operator connected Nith such aork ami most ~
fae operators are irving lessen iGs ao,env..
IL retarding realty Progress To those development