The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1912-04-10
w. r.. Grace & Co. Buy Quarters
on Water Front.
Increase in Business, Due to
Canal, Reason.
OTHER FIRMS FOLLOW SUIT
Panama Ditch Lever to Set
Business Going.
American Educated Chinese
Near Head of Nation.

New York, April 10.-A brief news
report published a day or two ago
tells of the purchase by w. r. Grace
& Co. of a block front in lower Man
haitian within a stones throw of the
easterly end of Wall street At a SUI
perfcial reading this seemed to mean
no more than an addition to the new
buildings now under way or soon to-
be constructed in what is called the
shipping district of New York, but
there is really a deeper significance in
this purchase than appears in the brief
announcement of It. For many years
the international mercantile house es-
tablished by William r. Grace who
was twice mayor of New York has
occupied for it's offices q building
fronting on Hanover Square and con-
Veniently situated for the business of
the house, being near the water front.
Today the largest commerce between
any American port and the west coast
of South America is carried on by the
house of William r. Grace & Co. 1t
has been recognized both here and in
South America and also in Europe
the largest mercantile house in the
United States engaged in the South
American trade. Some ten years be-
fore the death of Mayor Grace he or
ganized a steamship line, unique in
one feature, which was that the steam
ers made regular sailings from New
lea, making the passage via the Strait
of Magellan, returning Fy that stormy
passage. Mr.. Grace was anxious to
establish this line under the American
flag, but he found that it was much
cheaper to buy the steamers in Eng
land and to sail them under the Eng
lish Tag than would have been posi-
BILE if he had operated the line accord
ance with the American laws.
The fleet was increased from time
to time. The business grew greatly
in both Notwithstanding and i'm
porting-and yet the offices in the old
fashioned mercantile building just
south of Wall street adequately serV-
ed this business. Now the certainty
of the opening of the Panama canal
and the determination of the success
ors of Mr.. Grace to send some of their
steam ers to the west coast of South
America by way of the lanai, and to
cause all of the returning steamers to
make the voyage via the Panama ca
nal. are good proof of what this most
experienced international mercantile
house regards as the commercial pos
sibilities following the opening of the
Panama canal. Other steamship
United Fruit company has already
caused to be constructed three new and
great steamships which will serve for
the comm cree carried by that company
between South America and our own
Atlantic via the Panama canal.
Due to the Canal.
In view of the expected great in
crease of commercial business be- !
tween the United States and South |
America, the house established by
William r. Grace has now found it !
expedient to purchase a whole block |
front on Old slip, New York, in the |
heart of the shipping district, contem- |
plating the razing of the buildings and !
the erection upon the site of a lofty |
building eight or ten stories, the build |
ing itself to cost about three hun |
bred thousand dollars. The compare |
lively little Offices of the building in
Hanover Square, which were for so
long a time adequate for the inter-
national commerce carried on by this
house, are, in view cf what the Pana- |
ma canal is expected to do, judged |
insufficient and the house is to occupy |
a great building, at least eight stories
in height These figures of themselves
tell story of the meaning of the Pan !