Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1917-06-18

many phases in the development Of
New York City and its nearby terri
,Ory. but / am stating a fact con-
servatively when I say that Whining
ton, Del. today offers more and great
er opportunities for immediate and
substantial profits in real estate in
vestments than any section Of a SINH
lar area within my experience in New
York.
would particularly advise VILE
mington investors. the careful and
prudent men who desire 20 leave their
families well protected against the
ylcissitudes OF fortune. 10 study the
commercial centres Of Wilmington
with the view Of invest ng in carefully
selected commercial properties which
hey can lease to some prosperous re-
tail concern on a long term with re-
newals Tor a net rental which is the
very highest type Of income property.
Wilmington offers today just as good
and better opportunit es than New
York offered in It's early days to the
Astors and Goelets and other proml-
nent families whose ever-increasin2
fortunes are founded on we'll selected
real estate.
nave Iudut a lUNl VI fNul WY .
have seen great industrial concerns
In the process OF building and others
expanding their already prosperous
plants. I have watched the trains
carrying thousands OF Wilmington'a
Industrial workers TO their homes In
other communities because they could
not find houses in Wilmington. And
have seen acres upon acres Of va
cant property ripe for development
wh'ch should be improved with mod
ern houses 10 provide homes for VIII
mington's industrial population.
On every hand have seen the evil
dences of wealth aud prosperity in
Wilmington and I have taken occa-
sion TO inform myself further OF con-
ditions in this prosperous city by
reading about your plans for port de-
velopment and the inspiring words OF
your pubic mon who surely are in a
position 10 know what factors arc
working for the city's development
and have been impressed with the
significance Of their predictions Of
Wilmington's future greatness. be
cause IL has been my business 10 study
lust such conditions as you have here
and to tell the readers OF the New
York Herald where they may find OBJ
portunities for profitable investment
In reading the account Of the pro
ceedings Of the Chamber of Commerce
port development banquet. held dur
ing the month Of Nav. I was very
much impressed with the remarks Of
President Grace OF the Bethlehem
Steel Company, particularly wher
he said:
81 am afraid that the people Of VIII
mington do not appreciate their nat
ural position"
This particular remark Of his prob
ably would not have created such 9
deep impression upon me II 7 had no
known that some of the shrewdes
real estate operators and develop
ers in New York City haS
been attracted 10 Wilmington b.
its wonderful opportunities an'
had made very extensive investment
IN residential properties with view
Of providing homes for the man,
thousands OF industrial workers VIII
TODAY must go outside Of Wilmington
for living quarters, and the still
greater thousands who viii b
brought into Wilmington 10 man tn
new Industries under way and the oil
Industries that arc rapidly expanding
Why did not Wilmington me take ad
vantage Of this neglected opportunity
The wealth and the spirit or enter
prise are here. but everybody SCENE
20 be sleeping over a gold mine ina
Is plainly evident to stranger.
Somehow or other IL takes the ma
from the outside looking in TO see IN
real opportunities that communit
fThi
has been true Of New York. Some q
the most successful real estate OF
orators in the metropolis and its spler
did suburbs have been newcomer
who we're attracted TO New York b
fts opportunities for the live, wide
awake progressive man.
John E. Allen. whom I have know
for years as one OF the Invest mos
progressive real estate men IN Ne
York visited Wilmington severi
weeks ago. and to his practiced oy
fhcre was spread out field Of wor
derful nossibilities. Mr.. Allen was on
of the pioneers in the development
BROOKLYN and Long Island and N
metropolitan district in New Jerse
He is a careful experienced studei
OF real estate conditions.
He knows what to avoid as well
what 10 invade. and when 1 learned I'M
he was in Wilmington, ! knew that WI
minqton was worthy OF inVesugatlo
Then / learned that Mr.. Allen had mte
ested two more Of the largest real esta
operators in New York in Winnings
propcrties. Paul A. Irwin and Mayna
4 Perkins. and I became still more ]
tcrested because. like Mr.. Allen, the
men had made fortunes not only I
Themselves IN New York real estate. b
for wealthy clientele composed
hard headed business men IN sever
States in the West and South as wen
New York. II is significant that the
men made very extensive investments
Wilmington before they knew anytn
of the plans for tho river front deNelo
mcnt. and they were very much impfes
cd with the Importance Of this propos
municipal Improvement particularly
John Meigs. the harhor engineering G
pcrt. provided IN his plans for reside
tial district IN close proximity to u
already important industrial cent
which will become a tremendous TACT
IN the city's growth with the deVei'
ment Of the water front property
When one gives thought and study
Wilmington's location and advantag
he must agree with President Grace
the Bethlehem Steel Company. who 4
pressed wonder that this port dcvel,
ment has lain dormant for so ma
years.
I have given careful study 10 con
tions in Wilmington and ] have be