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

to deduct from the total rise What HlBht
be termed normal rise, or the increase
that would have taken place through the
natural growth of the city without the
added stimulus OF new transit line.
METHOD OF JUDGING INCREASE.
The only basis OF arriving at a judg
ment OF what such a normal rise probably
was is to ascertain the rise for a period
of equal length under normal conditions.
Accordingly. the increase in value of
the same land during the preceding years
from 1893 to 1900 was determined.
1t was found that values rose during
this period of seven years on an average
of about 80 per cent. in the district on
the west side below 1S5th street and on an
point north to the spuyten Duyvl.
These percentages. then, may be taken
in these districts as the best basis ascer-
tainable for Judgment as to the normal
rise for period of this length, and II
subtracted from the rise which took place
along the subway in 1900 to 1907 should
indicate the effect of the subway on land
values during the latter period.
BY applying this method it was discov-
cred that the land from 10Th up to 10th
street and between Central Park and the
North River had increased on an average
about As per cent, which is about the
expected normal rise. In the district along
the Lennox avenue line, south of the
Harlem River, the average increase was
about 43 per cent, which would indicate
that the land did not increase in value
due to the building of the subway. The
explanation of this unexpected condition
Is, no doubt that an elevated road already
existed to give fair service to these dis
tricts, so that the additional facilities had
little effect on land value except in the
immediate vicinity of subway stations.
WHERE SUBWAY HELPED MOST.
The rise in land value along the Broad
way branch from 10th to 129th street was
much more noticeable, averaging about
20 per cent, but the locating of Columbia
University at this point affected values
TO the extent that makes II quite impos-
sible to arrive at any reliable conclusions
as TO the proportion of rise which should
be attributed to the subway.
The situation from 1S5th street north
ward. however, ia entirely different Be
tween 1S5th street, 155th street Convent
avenue and the North River the land
increased in value between 1900 and 1907
about s17, 600. Although the elevated
road paralleIed this district, yet, owing
to the topography, the road was of little
service, so the subway added very ma
torially to the transit facilities of the
locality,
The district between the Harlem and
Ncrth Rivers from 155th to 17Sth street
Increased In value about $50 100000, from
17Sth street to Dyckman street the in
crease was about SIS, $4,000. from Dyck-
man street TO Spuyten DuyYil the increase
was about slS, 900. The aggregate rise
in this land from 135th street to spuyten
DuyviI was G9,3OOOOO.
If an estimated normal rise of S2O.lOO,-
900 based upon the rise of the previous
seven years be subtracted from this, it
leaves a rise of about 100000, ap-
parcnty uue 10 lHe pulluill5 VI 'He auo-
way. which is 1O4 per cent increase in
the value Of 1900,
BRONX VALUES ADVANCE.
The rise of land values in the Bronx
is likewise very noticeable. Taking the
district along the subway, extending in
width one-half mile on either side, the
increase in land values was as follows:
From the Harlem River to willis and
Sd avenues the rise was about s),2OO,OOO;
from that point to Prospect avenue, about
E22. 100 900; from the latter point to Bronx
Park, about sl3 OO0
The aggregate rise of land values for
this district from the Harlem River to
the Bronx Park was about 44 500 900
Subtracting from this the aggregate
normal rise of Sl3 500 900, it leaves an in
crease Of S3l 100000, due to the building
OF the subway.
"A previously stated the aggregate
rise of land values above l35th street in
Manhattan caused by the subway was
$40 zoe OOO. The cost of building the sub
way from this point 10 23Oth street was
81 375, 900, or but Is per cent Of the actual
rise caused by the new line,
In the Bronx the situation was i'm most
respects similar. The aggregate increase
Ia land values (of the district extending
about oue-half mile either side of the
subway due TO the building of the sub
way and in excess Of the normal rise of
Sl3,jOO.G00 was about S3l,3000l0. The cost
Of the line from l3d street to Bronx
Park was about $4,000.
II will be noted that the aggregate rise
i'm land value in Manhattan from l3jth
street 10 Spuyten Duyyil and IN the
Bronx due to the building OF the sub
way was $50 10000 The cost Of the en-
tire subway from the Battery to Spuyten
Duyyil and the West Farms Branch 10
Bronx Park was only Sl3,0OoOO0
NORTH PHILADELPHIA'S DEMANDS.
The people OF West Philadelphia ana
the real estate owners are travelling with
comfort, convenience and saving in time.
all factors which contribute TO general
prosperity. The people Of the northern