New-York tribune., 1915-07-04
Increase Since First OF
the Year Gives City a
New Life.
Big CHANGES IN
CENTRAL SECTION
New Transit Terminals to Mate
rally Add to Present Values
and Increasing Population.
By JAMES NJ. REILLY.


fan and thero may DC wide fluctuations
NJ many points, but tho history OF real
estate in tho city Of Newark presents
rbenomenon- Panic or no panic, val
ues have constantly increased IN New
Ark A research showing conditions
durinr ths last fifty years Will bear
ont this statement The last SIX
months hare Witnessed the elimination
Of = period Of industrial depression
which continued during the preceding
two years
Commercial property in the centre
Of tic city has been ~ a stanesilu due
20 the uncertainty surrounding mer-
camilla and commercial business, but
1z<+h ths Increase in manufacturing
that has taken place since the first OF
the year = new life has become mani
fcs+ and Z live movement is now under
way which VII stimulate transfers Oh
tide
Some remarkable changes arr taking
rlaes IN The central section Of Newark
disturbing values for a time, but al
tending 10 increase value and 70 widen
the area Of the business zone Inc
Hudson & Manhattan rapid transit
xvs-rrn between Newark ard New York
has created an entirely new centre OF
trafis et Park Place and Centre Street
The divertinC Of various trolley lines
from the four corners at Broad and
Market streets has also brought about
changes and the construction OF new
central terminal station b. the Public
Service Corporation VIII materially
add 10 the changes that arc coming 10
pass. and every change VIII ultimately
add 70 present values while creating
new values at other points The Won
derful increase in population in New
ARK and lis immediate suburban sec
tions provides the real reason Tor theSe
conditions.
New industries are constantly locat-
ING in Newark because OF It's superior
advantages as manufacturing centre
There is no city in the United states
that offers greater facilities for success
ful conduct of manufacturing. We
have here an army of 100000 mechanics
enraCed in over $50 distinct lines OF
industry, each supplying the needs ana
wants Of the other Win the i've
trunk line railroads operating 10 every
DoiDt our manufacturers enjoy trans
ror+afjo0 facilities unsurpassed, and
the facilities afforded by the rail car
rjers are supplemented by the water
lines. operating from Newark and con-
Meeting with all the various water lines
out OF New York.
wonderful development has taken
place Immediately on the outsklrts OF
The city. What were firm lands only
n few years ago are now beautiful resi-
Dental sections, and where land was
sold at S 500 per acre $ltV Io15 are
now bringing That price.
The number of magnificent apart
rnents that are being erected through
ort +bis section indicates the demand
for such accommodations by tamlles
accustomed 90 comforts OF apartments
Drovided in New York who are moving
to this section.
AT no time in the history Of this city
has there been so great ceI64na LOT
available factory sites than at thls
time. The prospect IS that Newark IS
going to experience woncertuI pros
Deritv and a wonderful increase IN us
Industrial and commercial he ana III
its population. The future Is Dig Deiore
NewaIk. and the business men Of New
ark are alive 70 the Importance Of an
ticipating coming events.
The rublic officials of the city have
been authorized 20 undertake work
Of gigantic magnitude. cOmprehendlng
the reclamation of 4.000 acres Of tide
mashlands fronting on Newark Bay ana
the developing Of the entire bay 'front.'
age for manufacturing, commercial and
industrial uses.
Ship channels 400 feet IN wldth and
1000 feet ln length with deplh OF =
feet at low water are beng comPieteu'
and along this stretca WharVes are
being constructed to accommodate ves-
sells engaged ln the ocean carrying
trade. These wharves are Delhg con
nected with the Pennsylvania, Lehigh
Valley and New Jersey Central rail
roads, insuriug the best in the way Of
transformation facilities.
There has been reclaimed ana mace
available for factory uses up to the
present time about 500 acres, offering
superior advantages for the location OF
large industrial plants, and IL Is anucl-
pated that within a year or TWO the m
dustrial establishments IN Ne"arS WI. VIII
increase rapidly and that many miIIloh'
of capital VIII ma investment o" 'nc9o
sites
The cooperation OF the United states
government ls already assured IN the
development Of Newark BAY as a sea
port and part Of the Port OF Ne"
York, inasmucn as existing contracts
will call for an expenditure OF upward
of a million dollars ln providing a