Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-10-29
The procession

while the battle for the high-speed sys-
tenn and free transfers proceeds.
For the period from 1906 to 1912 the in
crease in taxable values in all of West
Philadelphia was $SO.172745, or 500 per
cent. while the increase of taxable
values in other residential districts of
the city, excluding West Philadelphia
was only 23.3 per cent.
In the 46th Ward which adjoins Mar
ket street on the south, extending from
45th street to city line, and which is
directly served by the Market street L."
the valuation of unimproved real estate
in 1900 was S675,OOO, although 1t was only
assessed at so per cent. of that amount.
In 1906 the assessed valuation of the
same property in that ward was in
creased to $1,SS7,OOO Cbasis 100 per cent?.
In 1912 it still further increased to
S4, ,8Gl 900, or total increase in Il years
Of 800 per cent
WEST PHILADELPHIA'S PROFIT.
1t is particularly interesting to the
holders of the vast tracts of real estate
tributary to the branches of the Broad
street subway, which are undeveloped
ard which will remain largely unim-
proved so long as they continue to be
unavailable for residential purposes by
reason of the lack Of capacity of the
existing lines to carry any more people
TO and from such districts and the great
length of time necessary to reach such
property by street car transportation from
the business district.
West Philadelphia is prohting largely
and disproportionately to the other sec
tons of the city from the advantages
afforded by rapid transit. II is becom-
ing a city in itself.
Large and prosperous shopping districts
have sprung up at SD and Market streets
and Goth and Market streets, with thea
tres, banks. stores and other industries.
The present rapid transit line running
to West Philadelphia has in the last 10
years diverted 10 and concentrated the
citys growth largely In West Phlladel-
phia.
This section is now well built up, and
the residents of other sections Of the
city are aware Of the advantages which
they should share with their West Phila-
delphia neighbors.
HOW NEW YORK VALUES JUMPED.
An exhaustive investigation of the effect
of the construction of rapid transit lines
on the value OF real estate served was
conducted by the city Club Of New York
in 1905. and its report thereon was filed
with the Board OF Estimate and Appor-
tionment and with the Public Service
Commission. New York city.
1t discloses the following facts, which
will be OF vital interest TO real estate own
ers in Philadelphia,
The method pursued in arriving at the
values was as follows
Assessment values, as given by the De-
partment of Taxes and Assessments,
were taken for the year of 1900 on vacant
lots on a basis of co per cent. Of fun value
for the district from 79th street 10 Spuy-
ten Duyvil; 65 per cent between Central
Park and the Harlem River. and 90 per
cent in the Bronx.
These were compared with the assess
ment values OF 1871 on 90 per cent basis
for all Of these districts, and in each case
the full value was obtained by raising the
assessment figures to 100 per cent
In the districts which We're largely built
up all vacant lots We're listed. Where
there were few buildings, as in the ex-
treme northern portion Of Manhattan. a
sufficient number Of such lots were taken
to show the general land values, and from
these was figured the total value for the
district. To ascertain the proportion OF
increase In land value attributable to the
building Of the subway, It was necessary