The Washington herald., 1918-08-16
.HUGHEST REAL
ESTATE DEAL
Holland Talks of Project
Devised by the Late
W. H. Newman.

New YORK central ana allled rail-
road lines, william H. Newman,
conceived. directed and almost COM
pleted that it Is probable that this
stupendous work will be easily con-
tinued along the lines laid down by
him He had been i'll for some time.
but nevertheless, was able until a
few days before his death on Fri
day OF last week. to give general
directions and perhaps to look from
the windows of his apartment in tho
great hotel which was erected un-
der his supervision and by his ad-
vice, and see that the work which
d he undertook some eight or nine
years ago could be speedily finished
by those who succeed him in
authority.
Mr.. Newman had already gained,
at least among railroad men, a
reputation second to that of no
other railroad director OF his time.
He resigned the presidency of the
various lines comprised in the Van
derbilt system presumably because
his health was somewhat impaired.
He was willing to yield a salary be-
livered to have been somewhat In
excess of 100000 a year so that
he might be able to give up the
enormous and difficult work which
he undertook TO perform when
William K. Vanderbilt called him
to the presidency of the New York
Central lines
Forced to EIeetrify.
Just at. that time there began an
enforced attempt to utilize cleo
tricity for hauling trains on the
New York Central the Harlem and
New Haven Railroads to and from
the Grand Central Terminal The
attempt was enforced because the
legislature in 1902 directed that
within five years the use of steam
locomotives within the boundaries
OF New York City should not be
permitted but that electricity should
be substituted as the motive power
It was a new problem. In fact in
none Of the great Industries which
manufactured electric appartus was
there any electric motor manufac-
tured capable of hauling heavy pas
senger of freight trails. So also it
was a new proposition so to equip
the tracks with electric conductors
as to make the employment of cleo
tricity in this way safe, convenient
and adequate.
When Mr.. Newman was called by
Mr.. Vanderbilt to the presidency of
the New York Central it was ex-
pected that he would be chiefly oc-
cupied in employing his brilliant or
Ganizing capacity in assimilating,
mO5ilizin- and thoroughly co-ordinat-
Tnug
Shore and the Big Four with the
parent line. the New York Central
That was task great enough fully. t1
occupy a man even though he pos
sessed the, unusual ability which DIS
tinguished Mr.. Newman, but, sud-
denly. he found himself confronted
with this problem of electr.fications
With the assistant of William ],
, Wilgus. an engineer of high repute.
the man who was chiefly responsible
for the successful construction of the
tunnel under the Detroit River, this
original problem was fully solved in
less than five years. 1t set the ex-
ample for other railroads. and t was
due to it in great measure that Presi-
dent Cassatt. of the Pennsylvania
Railroad Company. determined to
construct tunnels under the Hudson
and to electrify the Pennsylvania line
from Manhattan and even from Long
Island to a point near Newark.
Bought Many Blocks.
In order to secure terminal advan-
tages the New York Central bought
many blocks of real estate. stretching
northerly from the Grand Central
terminal Mr.. Wilgus suggested that,
as electricity was now employed sue
cessfully in hauling trains, and as
from the electric motors no smoke,
cinders or noise went forth, IL would
be possible to utilize the land above
the railroad tracks to commercial adj
vantage. President Newman, after
careful investigation, thorough en-
dorsed the plan. and when he re-
signed the presidency Of the various
New York Central lines he retained
his post as a director in the system
and was commissioned by the COM
pany to undertake a vast system Of
real-estats Improvement.
This involved not only engineering
of a high order but also very skill
full financing. aggregaung considera-
bly, over s1O0.OoO.ooO. Mr.. Newman in
his quiet. modest Che was almost
abnormally modest) way carried on
this work. As a result there are
whole blocks Of large buildings, many
Of them suitable for Industrial pur-
poses. constructed over the railroad
and the adjoining parcels of land
Mr.. Newman aided the Yale Club
In financing the construction upon
New York Central real estate of a
building which is understood to be
the largest Of any club building IN
the United States-so large that in
these war days the Princeton Club
is now affiliated with the Yale Club
At one time IT was in serious con-
temptation to erect new opera
house. to take the place of the Met
ropoIitan Opera House, upon this real
estate. That plan. however, was
abandoned
The Great Hotels.
Mr.. Newman was persuaded that
II would be commercially practicable
TO build upon some Of these parcels
Of land at least two hotels and so
to build them that they would be
regarded as conspicuous among the
hotel structures Of the world.
One Of these hotels was completed
in record time and now ranks with
the most fashionable as well as the
most successful OF American hotels,
1t is connected with the Grand Gen.
trail terminal by subways. But Mr..
Newman did not stop there. He
planned the construction of a hotel
building which is to be the largest
in the world, which Is also to stand
adjacent to the Grand Central ter
minal. 1t probably represents an in
yestment Of more than s15.0oo,Ooo. To-
day this gigantic hotel building is, SO
Tar as the structural steel work Is
concerned, practically completed.
In size 1t compares favorably with
the New Equitable building which