The herald., 1914-07-30
Just tot down these symbols:
y (a-b)-c

Here we have social New York's
chiefest problem expressed algebraic-
ally. N" is the unknown quantity
for which a given value is required.
"N'' Is the uncertain quantity which
the mathematicians call a variant"
and "a" "b" 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 n word. when the rich man solves
1t he knows exactly how much a 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 "N'' has been prCyerly
found before the lucky solver l,Sgins
on his problem. gives higher figures
than the one before.
Today the correct answer is S1oO, 900.
the price for which one of the coveted
boxes was recently sold.
The symbol "N' means, in a word.
the approval of the board Of directors
Of the Metropolitan Opera. If you
can possibly get 1t 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 II
! means that your social standing is Al.
fiawless. unimpeachable. unassailable,
wholly perfect,
| Now let us get right down 10 figures
| and solve our problem of the opera
! box. We must assume. of course. that
we have "N" figured down to nicely
! that Is. we have the unqualified ap-
| prOval Of the directors Of the opera,
! the hardest quantity of all to obtain.
Our known quantities are a matter
| OF record md 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 a
| whole. And the diviSor. So. is the
number Of boxes in the parterre al
/ the opera. of which there can be Just
/ thirty-five. no more and no less.
| So. we can now substitute figures
/ for our aIebraic symbols or letters
| and work out the problem by simple
arithmetic. The building is kgured at
S1.0OOOOO and the land at $3.JO0.000
I Besides this. there IS an equity in q
| loft building where scenery is stored
which is figured at 100000. You have
| just as much share in the dingy loft
as yon have in your briIliar1 red anC
| gold box at the Metropolitan Opera
! House So the total real estate value
is Sf.G00,OOO From this you must sub
tract the mortgage. which is S1OO0.OOO
Our result. then. is S3.GOO.0OO Now
divide this by 50. We get S102. .S57
That is the cost price of a box at tn
opera. The balance is the seller.
! profit
Look TO this fact-the remaining or
iGinal box holders of thirty years agt
have quadrupled their money. They
Clipped in $4,000 apiece then, anC
now their individual holdings are S12O
600 each and growing every season
Death alone ever parts an owner fron
his box, and then it stays in the fam
ny nine times out Of ten Why?
Simplest thing in the world-becaus
the box is sure of a handsome incom
every year. A man could live in styl
from what his box at the opera woul
bring him II he had to.