The sun., 1918-11-03
: TEMPORARY STRUCTURE BROADWAY
10 STAND WHILE CHARACTER NgiGHeoRnooo DEVELOPS.

\ In the older sections OF the city. those
wit Of, Broadway and south of Four
tAsrtha street, are a world of opportuni-
tsss awaiting the coming of the man
who can see beyond the conditions OF
yesterday. The area is full of profitable
possibilities which will be greatly de-
wJoped by tho return Of peace. Harry
fall. director Of William a. White 8
Sons. b sponsor for this statement Mr..
osIAli has prepared himself through long
ns4pciation with the real estate affairs
~ tho city to estimate conditions and
focAsee their economical effect on real
el1atk He knew this district when II
wts aone OF the best real estate invest.
ment fields in. New York, Had owners
10 5those days accepted his advice there
nntEit not have been a great trade ex-
osfuss from the district and property there
might not have depreeis ted He advised
aIrairist the practice of using all of tho
ff<ofne from a property and not laying
stiide fund to prevent decay.
tfHn Hall. in viewing the real estate
Mutation. said he was like Richard Wat
kssn Glider, who speaking of certain
H3dhicipal problem, said:
I'll confess that when we consider our
pfoblem in the light of the present sit
uAficn we may find grounds for pessi-
lIiien. but when we turn around and
look back over the way we have come
am sure we shall find ample grounds
for optimism
= $50 with New York city real estate"
u iye. Mr.. Hall mo student of its bis
fry can contemplate the marvellous
~ ~ tla Tnkt Al t.
H}xI and OF New York city In particu-
ISr. especially during the last forty
y&ars, and fail to ind abundant reasons
fdf faith In its ultimate value even
inI the most depressing circumstances.
S1"Just recall that In 1850 there was
not q single building on Manhattan ISL
\ and more than eight stories high. The
eight story Temple Court at Beekman
ahd Nassau streets was then the show
puilding. 1t is only about thirty Ave
ysArs since the first steel frame build
! tdg IN New York was erected at about
~ Broadway. and this has long since
been removed to make way for a larger
structure. Since then three Equitable
Buildings have stood at 100 Broadway.
81 Is little more than twenty years since
-sa,e twenty-five story Tract Society Build
ing at $50 Nassau street was having
trouble in giving satisfactory elevator
service Buildings such as the Bowling
Green and Bank Of Commerce. narvels
u their day, are but twenty-one years
ol1sand now are distinctly passe Prac.
Y ticafiy all of the notable large buildings
III the city are the product Of the pres
e1t century. and the so-called uptown
riIovement.' involving the erection of
practically all the large business build
sfEs above Fourteenth street. has taken
place within the last ten years.
s1In 1880 the business section was
substantially confined below Eighth
street, and residences above Fifty-ninth
| street were almost suburban. To-day,
with some small exceptions. business
claims the main arteries up to Fifty
seventh street, and residences cover the
entire island.
"When Il rs remembered that ripples
from every wave OF prosperity In any
v1srf of the country eventually reach the
island of Manhattan through either tho
channels Of commerce or finance. Il will
b seen that the past development OF
the big city Is only promise OF greater
things stlll to come
SIT Is true that during the last few
years real estate owners have expert.
Hfsced many trials and tribulatfons from
eayeral causes, beginning with the finan-
cfsi panic OF 1907, followed by series
of Reimbursement processes. including a
sllifting OF trade centres, legislation re-
k$ftiIng the height and use OF buildings
ma safety requirements. and finally war
conditions. with the resulting suspension
81 building operations. Many OF these
while costly and burdensome to numer'
Gus individual owners and troublesome
"a an, are now seen to have been bless
ftxs in disguise. so far as the real es'
Nc vitua ton as a whole Is concerned.
att is this wider survey that has sus.
aimed the more thouehtful members oil
real estate fraternity during the Ions
Mod OF depression through which they
ave been passing and given them their
bidins faith IN the ultimate recovery
Va Inability Of values.
.sfhe long, long night ~. waitinE
.f,ls now TO be ending, and the dawn
shall prove the reality underlying
faith is at hand. A few wise men
anticipated II, others are beeominr
OF Ifss conscious of the growing
,1nG 1oon II Will be evident t. all
kifg II reflected In. the number
msatsr Of the sales made duSins