The evening world., 1911-02-04
NEW SUBWAyS TO
CREATE VAST
RICHES IN REALTY
Operators Prepare Movement
That viii Raise New York
Prices Above London'S.
A WORLD METROPOLIS.
Vast Masses of Capital Are
Held in Wait for Definite
CONSTITUTIONAL Plan.

Money In huge masses Ia being a.
.cumnlated FOR the immediate develop
Of suburban realty.
More thar si5o.co.Oo Is ready for 70.
lease az soon ne the new transit subway
situation shall take definite form. Large
operators and developers OF outside
home sections are preparing for the
creates, movement in the history OF
metropolitan expansion.
Signs OF n wide revival In general
business spurred real estate mon TO
enthusiastic activity all through the
past week. They say that Immense
piles OF investment capital awaiting
profitable employment will he taken by
suburban home builders.
Politicians Aid F%inancIers.
City officers as well as the most in
nuential nnancial leaders in the realty
field are eager to help a general ad-
vance In land values throughout tho
suburban home territory. Tax assess
ment valuations were raised horizont-
ally at the start OF tho year and
municipal heads who directed the new
system want to see the public market
justify all OF their theoretical enhance
ments. The city needs n greatly ex-
banded debt limit also and the sure
way to obtain 1t is through a natural
advance In realty values.
Students OF the real estate situation
who are planning the coming campaign
argue that New York lane should sell
at the highest figures of any land In
the world. They base their position
upon the fact hat New York and IL
used by more persons than that OF any
other metropolis as calculated by the
acre or the square mile. II In improved
with the largest and costliest buildings.
Such population utility IL recognized
automatically as the true basis for
highest values.
New York =. sses London.
New York averages 50 per cent. more
people 70 the acre than docs london.
While the population OF London's 500
sauare miles Of metropolitan district Is
l., 5000 aud the population OF New
York Clty's 37 square miles Is 4,G67, 900.
the population OF New York's metropoii-
tan district OF $50 square miles Is
100000 or practically the same In
density as that OF the London metro
politan district.
These statistics show that New York
is practically as large rs London In
point Of population. And london Is the
largest city in the world.
But New Works growth IL nearly
twice ~ fast as London's. Therefore,
New York IL passing London, and ia
steadily STRENGTHENING its place as the
worlds largest metropolis.
In view OF this sit leading real
estate ana financial interests. with the
foremost politicians. believe tina the
time is ripe for New York realty to
NOV" to the front Of tho worlds In
vcstment securities. They maintain that
the construction Of rapid transit lines,
which VIII Increase Ny fully 40 per
'eHt. the population uses OF the land.
Win pllc" New York real estate upon
the highest plane of investment.
Room for Big Rises.
In the central parts of London practl-
cally no land Is for sale. Changes IN
holdirgs and IN occupation ARE effected
mainly through the $ale OF long ease
holds. owners are satisfied with a re-
turn as low as = per cent, ana : 70 y
per cent. IL con }dercd very high. Prices
capitalized upon the basis of such small
income returns are mucI higher than
New York realty prices, Whicl show an
nua, returns ~ , 20 10 pcr cent.
with the construction " the new sub
ways radical movements are expected IN
the general real estate situation ~ the
metropolis.
Not only win quick transportation "a
%cilit,rs draw the outside lands mucl
nearer to old popu'atiun centres, thus
rcnIcrtuG them ayalla',e for tue W. g
OF a vastly larger number % people, but
the new conditions win attract great
massc, OF capital into building opera
tons COZ housing the shifting popula-
uon. tn" two movements will add I'M
mcu.o tJtHls to taxable Valuations, thus
expanding uac City, credit facilities.
placing stronger security behind IL
nI.ds and enabling It o. rtis" stAl fur
thor suns Cor ulncr biz puUiir works,
Vul.u IN turu VIII ten 20 Increase I"a
estate values.