The Leavenworth echo. [volume] (Leavenworth, Wash.) 1904-current, 1913-12-19

chiefest problem expressed algebraic-
ally. tx" is the unknown quantity
for which a given value is required.
"N'' is the uncertain quantity which
the mathematicians call a variant
and "a" SD" and &c" are the known
quantities which can readily be ascer-
tained by referring to the real estate
records on file in New York city.
In a word. when the rich man solves
1t he knows exactly how much box
at the opera costs to own outright In
fee simple. he and his heirs and as
signs forever, If he has the value of
an"
The correct answer has only been
reached five times in thirty years!
Strangely enough, too, this right result
each time is never the same Each
solution, where M has been properly
found before the lucky solver begins
on his problem, gives higher figures
than the one before.
Today the correct answer is $4,000,
the price for which one of the coveted
boxes was recently sold.
The symbol IN" means, in a word,
the approval of the board of directors
Of the Metropolitan Opera. If you
can possibly get it and have the $780,
600 lying idle to boot, then you can
become the proud possessor of a box
at the opera-the one and greatest de-
sideratum of those who would have
impeccable social prestige in New
York, which means everywhere 1t
also means that boxes in the golden
horseshoe" are the costliest of any
opera house In the world. The right to
have your six places at every perform
ance of the opera is a mere adjunct
to the ownership. 1t is the fact that
you, personally, own the box which is
the acme of the whole transaction. It
means that your social standing is Al,
hawless, unimpeachable. unassailable.
wholly perfect!
Now let US get right down to figures
and solve our problem of the opera
box. We must assume, of course, that
we have an" figured down to nicely
that is, we have the unqualified APP
prevail of the directors of the opera,
the hardest quantity of all to obtain.
Our known quantities are matter
Of record and easy to obtain to the last
penny. We find, then, as follows: Our
"a" is the value of the building; our
"b" is the value Of the land: our ''c' is
the mortgage upon the property as
whole. And the divisor, 35, is the
number of boxes in the parterre at
the opera, of which there can be just
thirty-fve, no more and no less.
So, we can now substitute figures
for our algebraic symbols or letters
and work out the problem by simple
arithmetic. The building is figured at
100000 and the land at $780, 600.
Besides this. there is an equity in
loft building where scenery Is stored,
which is figured at 100000. You have
just as much share in the dingy loft
as you have in your brilliant red and
gold box at the Metropolitan Opera
House. So the total real estate value
is 100000. From this you must sub
tract the mortgage, which is $1,000, 900.
Our result, then, is $3.600,o00 Now,
divide this by 35. We get $102,S57
That is the cost price of box at the
opera. The balance is the sellers
profit.
Look to this fact-the remaining Or
iginal box holders of thirty years ago
have quadrupled their money. They
Clipped in $4,000 apiece then, and
now their individual holdings are $780,
600 each and growing every season
Death alone ever parts an owner from
his box, and then 1t stays in the fam
fly nine times out Of ten. Why?
Simplest thing in the world-because
the box is sure Of handsome income
every year. A man could live in style
from what his box at the opera would
bring him II he had to.
Monday is the gala night Of the week
at the opera. A choice box-and they
are all choice except that some are
choicer than the rest for ocular or
auditory purposes-can be rented out
at a moments notice for $1,000 for just
the twenty four Monday night perform
ances. There are 100 nights and mat
inees of operative performances a
week for twenty-three regular weeks
and an extra week. So ninety-six per
formances are still left after you have
taken In your 5000. Sell your tickets
dirt cheap for these, say 500 for the six
seatings, and you have $1,000 more, or
$12, 600 income in all. Throw on the
5000 for commissions and you have a
net income of $4,000 from your tick
cts, or $1,000 a month. = New York
World