The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-13

tracks on First and Second avenues.
that the Brooklyn marginal ra lroal
'sef will run on the surface 81 city
streets from Thirty-ninth street "a
SiSty-fiftn street. and that nearly all Of
the S.dings from the elevated portion OF
rho road viii Ne on the street grade.
DR.. Kindred In discussing the matter
Yesterday said:
Attention is particularly called 10
tho fact that the city has just given the
DegUpn Terminal Company tho privilege
Of crossing twenty seven city streets
with railroad tracks from It's Waterfront
terminal on Dutch Kills Creek To every
part of Is property, 70 that there is
ample preceden, for The us. ~ city
streets for freight railroads l. would
be wholly practicable, therefore N build
side tracks from the marginal road As
lar inland "a Il was considered de-
srable 10 Use the land Tor Industrial
purposes and no opposition should be
cNptc,ed from the CITY authorities
In further proof that ms = the
logical development Of this section ID IS
stated that within the las five years
there has not been one single new r"si-
dental building erected ON either side OF
vernon avenue between MOI venue and
Fulton avenue, distance - TWO aud n
hall miles. while during the same TIM
other parts Of Long Island Ci,y which
are adapted TO residential development.
have enjoyed an unprecedented era "
building activity
The property along The brooklyn
margindi road Is almost entirely built
up and the land. as a result uf being
used many years for business. has
reached n large percentage OF it, uitl-
mate value. The city therefor could
not expect very large increase 20 the
assessed valuation Of the property in
that district as result OF the 49, 500
600 investment on the other hand
only a small part OF the property along
the proposed marginal railroad IN Long
Island CITY has permanent improve
ments Of any kind and the land value
Is comparatively low The city could
therefore ne certain OF large increase
in the assessed valuation in mis- district.
not only from the construction Of new
buildings but so from a large increase
In the value OF the land Itself
For the purpose ~ Determining wha'
could really he expected N tho way OF
an increase IN assessed valuation ing
Urcs have been obtained covering
wa erfroNt and inland values an along
the line OF the proposed road from Mott
avenue To Pot Cove, which show based
on sales made within the last few years.
an average value between the line OF
the railroad and the East River Of APP
proXimatply 81 a square foot. while tile
land on the east side ~ the road ranges
in value from 81 to 81 50 a square foot
When thes, values are COMPARED
win values IN 1ry other section ~ New
YORK. city where property has combined
raj ANA water facilities Dr. Kindred
said, iii is evident that the city H. Ger
tain of an increase IN the assessed val
uation Of a. lea a 100 per cent on prop
erty in the immediate vicinity and that
the increaSe in taxes would Justify the
city in making the investment. even IL
the road did not produce one dollar OF
revenue.
According 70 the report 10 Mayor
Mitchell OF the Committee on Port and
Terminal Facilities, the constructor cost
~ the Brooklyn maygina! railroad Is
estimated at 1881 600 for a road six
miles in length, while the construction
cost Of the Long Island CITY road will
not exceed $500 600 for road three
niles IN length The repnrt of the Conn
mttee on industrial Advancement shows,
however, that the total estimated cost
~ the Brooklvn marginal ronS 'nclud-