The sun., 1919-01-26
VEHICULAR TUBE
PROJECT ENDORSED
Real Estate Men Sure 1t VIII
Raise Values in New York
and Jersey.
a GREAT TIME SAVER
Will Benefit Factory Sites by
Speeding Shipment
Of Freight.
A GREAT TIME SAVER

Action by the Republican leaders who
control tho Legislature. in confirming
the project to build a Sehicular tunnel
under the Hudson from New York to
New Jersey and their decision to appro-
PIRATE 100000 for starting the work
Immediately, is hailed with Joy by real
estate men located on both sides of the
river In regard to the plan Charles
+. Noyes says:
I'm my opinion no project under dis
cussion is more essential for business
interests of New York city and New
Jersey. as well as outlying sections such
as Queens and Brooklyn, than the one
to join together more closely by this
tunnel New Jersey with New York city.
The subject Is one that has been under
discussion for many years, and every
real estate man, as well as the mer-
chants and manufacturers of New York
must necessarily applaud the probable
ity that this tunnel will now be con-
structed
According to the plans of Major Gen.
Goethals the tunnel will cost about sl2,-
900. 900. and l understand this figure has
been confirmed by actual bids received
from some Of the largest tunnel con-
structing companies in the country.
note that its construction is practically
assured as II result of the action taken
by the Republican leaders at Albany
and the joint Bridge and Tunnel Com
mission OF New Jersey and New York
have decided that each State will stand
SO 100000 OF the expense.
mo better news than this has come
to real estate interests and we all hope the
tunnel. as row planned, will run from
tho foot Of Canal street. New York, to
the foot OF Twelfth street, Jersey City.
This is the hub of transportation in
New York. and the natural terminus of
practically all OF East River bridges.
Furthermore, Canal street is n wide
street and n through thoroughfare. and
no better point could be selected on the
North River front than this point for
this important Improvement Then
again Twelfth street, Jersey City, |
believe. Is regarded as a logical point
for distributing goods to all railroads
coming into Jersey.
when one considers the great value
OF this tube in the speeding up Of ship
ments and permitting freight to be car
ried by auto truck from railroad term
inal 10 factory door. and vice versa, the
Importance OF the improvement cannot
be overestimated.
1T liz stated that the tunnel will pay
for Itself within twenty years. and. as
an outsider, should think IL would pay
for Itself In even less time.
The effect that this tunnel Will have
on the value OF New York city prop
erty. particularly the entire district
south OF Fourteenth street, but notably
in the vicinity OF Canal street, ten or
twelve blocks north or south and in the
old dry goods section west OF Broad
way, will be tremendous. New York
city Will certainly receive great advan-
tages in the matter Of increased tax val
ues alone Outside OF our subway i'm
provements know OF nothing IN the last
twenty years that will benefit downtown
real estate as much as tbs project
Every business organization in New
York should do all In its power to bring
about a realization OF this important de-
velopment at the very earliest possible
moment
c. Alfred Burhorn OF Hoboken de-
clares that recent events demand the
construction Of tho tunnel. He says:
Had there been need 10 establish the
fact that more reliable means than those
provided by the river ferries and other
kinds OF shipping were requisite for the
transportation OF passenger and freight
between the two States recent events
seem to have conspired in favor OF the
proposed tunnel
The strike OF the harbor boatmcn
amid the dense Cog OF tle past week
furnished tho object lesson and have
brought US TO n realization Of the ham
d!cap under which we are laboring. The
development OF the motor car. both for
passenger and freight traffic, although
still far from mature. has made such
enormous demands upon the present IA
cilities that relief must be afforded.
New Jersey offers wonderful oppor-
tunit!es Tor housing the largest indus
trial establishments OF the world in the
territory which Is just beginning 10 be
developed within short distance from
the shore. All have an eye on the mar
ket Of New York.
with the opening Of the tunnel. the
chief obstacle to this industrial devel-
opment will be removed with the result