The evening world., 1911-06-03
S15,0OO,OOOLOSS
T0LAb0RA MONTH
N SUBWAY DELAY
Over 5000, 900, 900 Is Held
Idle to Await Announcement
of Transit Scheme.
FEAR HEAVIER TAXES.
Builders Halt Work in City,
but Rush Home Projects
on Outside Sites.
FEAR HEAVIER TAXES.

More thar SIS, 900, 900 has been withheld
from building operations in the greater
city during the first Ave months OF the
year on accoun OF the rapid transit
subway deadlock.
From estimates by brokers In all sec
tions fully sljo.O 1000 has been withheld
from other fields OF real estate invest
ment.
Most OF the 500, OoO, 900 thus rendered
comparatively Idle is waiting still for a
nance to enter the market. 1t will be
available for active operations rs soon
as the future OF rapid transit shall have
been decided. But its enforced idleness
has deprived the city and the public In
general OF improvements which It's en-
ployment would have brought about.
and It's owners, besides losing just so
much time on their projects, have lost.
also. In the majority of instances, the
proper income on their capital because
they have held 1t In constant readiness
vestments that would retain it for an
extended period.
Loss in Five Months SIS, 800, 900.
More than S5O.0)O,0OO is held waiting
for opportunities 10 discount by build
Ing operations the coming rapid transit
developments In Manhattan, the Bronx
and Brooklyn. That sum Is In addition
to the amount which would 80 into
construction under ! nal conditions.
Blu the three boroughs have lost $685.
300, 900 more. during the first five months
Of the year. from the normal building
outlay as represented by the work of
1910. The loss from the normal. added
to the $50. 900. 900 withheld for extra new
projects. makes the entire loss for the
Ave months s75. 800. 000.
Real estate does not stand alone as
the sufferer. Labor would have re-
ceived directly more han half OF the
total and a good share OF the other
half through the fri. hat supply
building materials. The loss TO labor
in the building trades by the Ave
months OF subway deadlock is esti-
mated at $50, 100000.
Divided by boroughs. Manhattan has
fallen over 81, 10000 behind It's build
ing OUTLAWS OF last year. The Bronx
has lost $780, 500, 900. In Brooklyn the
decrease has been close to $4,000, 900.
Labor the Heavy Loser.
In the three b%oroughs the monthly
loss for the first five months OF the
year has averaged sl2.0oo.OO0. Thi.
covers the winter period, when building
operations do not reach more than halt
the volume of the busy season. Currcn,
losses are averaging at least SIS, 900, 0G
a month and So OO0, 900 of 1t is a direcr
loss TO labor.
Subway construction Itself would cal
for at least s3,oOO.0o0 "A month. Thi,
makes the total loss to labor approx
mately / 5.0oo,O 900 II month.
That the huge building losses are du,
20 something entirely within the create
city is proven by the fact that opera
tlons Just outside OF the city limits ar,
running far ahead of all former higl
records, And the losses in the create
city are confined mainly to district
which are to he affected by cominl
rapid transit developments.
In Queens. where projected city tran
sit lines are not SO important as thos
Of private corporations. builders hAv