New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-05-14

traffic but for the growing foreign COM
merce of the country We should supple
ment the efforts OF our manufacturing in
terests exporters and importers to increase
this business. In this connection maker
of machinery in Cincinnati made this state
ment: IF New York fails to do its bust
ness we who ship via New York have 10
pay in cash profits for its weakness. Your
port must not penalize the commerce Of
this nation by falling to provide the best
service a the lowest price. II 1t does, more
traffic will desert it, just as Montreal and
Galveston have taken away the export
grain trade"
And this brings us To a consideration Of
that class of real estate which plays such
an important part in the growth and up
building of this great port-w waterfront
properties. These properties are little UNI
derstood and fail to receive from specula-
tors and investors the consideration which
their Importance merits Outsiders seem TO
be better informed Of the situation and take
more interest in the harbor of New York
than do New Workers themselves.
There is a great opportunity offered capt.
tai in the development Of waterfront prop
critics for manufacturers in New York Iar-
bor
In this connection it is a singular fact
that although the commercial supremacy Of
the city is so largely dependent upon its
harbor and shipping facilities. there is no
firm or corporation with adequate capital
engaged in the business Of DEVELOPING these
properties.
No m raql toto nef,
attractive opportunities first, because the
available supply is being constantly dimin.
ished by being taken up for specific DUR
poses; second, the value OF such properties
increases in far greater ratio than the
cost Of Improvement and third. ones
choice is limited to comparatively few To-
cations.
a prospective buyer requiring a certain
depth of water. and rail connections can
not be suited in a location where IL is inn
possible TO obtain these facilities. Natural
~. with the growth of the city and its com
merce the demands for these properties in
crease and likewise values.
Onllke other real estate, the owner of a
waterfront property Is not tempted IN 70
sell for profit. II he has a going and
profitable business i'm proper location, the
property can only he acquired by buying
the business
The last government report, covering
period or five years, shows that out OF
Z.s50 new industrial enterprises for the en-
tire United States. 1900 Of these establish
ments were located within greater New
York. With per cent OF the nations
population. We produce about IL per cent
of its MANUFACTURED products. Perhaps this
amazing Industrial growth can best be ap-
preciated by the statement that the total
increase I'm value of all manufactured
products in the United States during that
period was 81. 2S7 100000. of which New YORK
City supplied s55o.0ooo00 equal To Il per
cent.
Output Of Factories.
To apply another illustration. In a period
OF five years New York City has increased
It's manufacturing equal to the combined
industries of PIttsburg, Allegheny and
Cleveland in 1895.
Trade conditions being normal. II has
been estimated that New York will add an
average OF Soo,Wo,0oo a year TO its indus
tries within the next decade. an Industrial
city greater than Philadelphia and equal
TO Chicago.
II is a popular misrepresentation that the
amount of commercial water frontage in
New York is practically unlimited. The
reverse is the case. While the shore from
OF greater NeN York Is very large. much
OF II Is unavailable for commercial develop.
ment Except for strictly local purposes
the demand is now for properties on deep
water with trunkline rail- connections.
Manufacturers are beginning TO appreciate
that next 10 the cost OF production the
cost OF transportation is the main factor I'm
securing business II the cost OF transpor-
tation and handling can be kept down,
both on the raw material and on the
finished product, it gives the manufacturer
great advantage over his competitors
And especially Is this true OF the manu-
facturer who Is seeking export trade.
l. New York, with Its many steamship lines