Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-12
Best Argument for Improved
Service Found in West
Phila., Where Land Val
ues Trebled in Nine Years.
Ratio of Increase in Population
of Thriving Section Since Con-
struction Of Speed Line More
Than TwofoId.

Property has virtually tripIed in value
In the vicinity Of Goth and Market streets
since the building Of the West phIladel-
phia elevated line. An investigation in
that section proved that many dwellings
and stores had greatly Increased in value.
As an illustration OF the trend Of
progress in this direction, a number OF
specific cases are given.
The plot of ground at the southwest
corner OF Goth and Market streets, now
occupied by store of the Rumsey- Borell
Drug Company. was valued at $4,000 in
1908 II is now worth sS7. 100, an increase OF
$4,000 In six yeors for the ground alone.
In 1905 the site was occupied by the
dwelling Of William Chadwick. His
residence was a three-story brick struc-
ture built along substantial lines, but
of Old-fashioned design. 1t was surround
ed by large plot of ground. The lot had
and a depth OF i15 feet on Goth street.
With the improvements now upon It
real estate men say the site is worth
between s1l5,OOO and $4,000
Directly across the street at the south
east corner of Goth and Market streets
real estate values had similar increase.
This site Is now occupied by the pro-
vision store of Walter A. Borton. The
lot, ON which Borton's establishment
stands was originally 60 by 100 feet
This entire lot was bought by Leroy
A. Worrall, u real estate agent 6OOi
Market street, in 1905 for ;1s,5OO Borton' S
place occupies portion of this lot, 40
feet ON Market street and 73 feet on
SOth street, and for this part Of the lot
Borton. it is said, has been offered s65OOo.
which he refused.
HOW LAND VALUES INCREASED.
In other words. 1920 square feet of
ground at the southeast corner of Goth
and Market streets is now worth nearly
three times as much as 5000 square feet
Of ground at the same place nine years
ago.
This boom in real estate values spread
throughout the neighborhood, especially
south Of Market street. The southwest
corner Of Market and Stafford streets,
about 50 yards east of 60th was bought
by j. Ringelsteln ten years ago for 1920.
This was sold recently by j. GrevIrson
Gladlng. a real estate agent. for SlI,50O
The lot at the northwest corner of Goth
and Ludlow streets. formerly owned by
the Graham estate, was bought seven
years ago by the Berman Brothers, real
estate agents. 6Ols Market street, for $685.
oO0 They sold it year ago for $4,000
still greater percentage OF profit was
realized by the same firm in the sale OF
Ludlow streets. About ten years ago this
site was bought by John Cooney for $1,000.
Beltnan Brothers bought IL for Albert
Runch four years ago for 5000, and as
the boom in this neighborhood was then
Just beginning, they sold II the same year
for sl2,S00, earning a profit of more than
30 per cent. In a few months.
A similar increase in value came to the
property at the southwest corner OF Goth
and Ludlow streets. BY way Of a little
history concerning this piece OF ground
II Is interesting to know that back In
1856 II was bought from A. G. Elliott for
Sssl.e6. 1t Increased by short jumps in
value at the rate OF 500 or so a year,
until the elevated road was built. when II
jumped in value TO $4,000.
The value continued to climb and now
this piecei of ground. 23l5 feet by 100, Is
assessed at $4,000. The only Improvement
ON Il Is a one-story real estate ONCE, oc-
eupled by ]. Grevirson Glading.
Other Illustrations OF increased prop
srty values in this nelRhborhoOd as a