ested in the Port Newark possibilities to ascend the Woolworth tower and study the surroundings of the Jersey shore. From this high point of vantage it will be observed that Newark Bay is nearer to downtown New York than the Forty-sixth street steamship peirs of that city. In other words passengers and freight from an ocean liner docking at Port Newark could be brought to lower Manhattan in quicker time than from Forty-sixth street.

Facts such as these are impressive and the more conditions at Port Newark are studied the greater is the likelihood that in a few years the Port Newark district will be teeming with industry. It is only a matter of education. He who runs may read and the facts are obvious and the comparison of conditions is so favorable to Newark that there is warrant for the confidence that the exodus of industry has only started.

Time is a factor in such developments as that which is taking place at Port Newark. Started in 1914, the municipal project was interrupted by the World War. The ambitious plans for shipping and industrial advancement were shunted aside by martial activities. Since then energies have been bent to picking up the dropped threads and weaving an even better fabric than was originally designed.

MILLIONS INVESTED-MILLIONS MORE TO BE SPENT The city of Newark has spent millions of dollars on this project and the expenditure of more millions is proposed. The financial return has been relatively meagre certainly not up to the expectations of the advocates of the improvement. The time is now at hand when the city must reap a reward for its confidence in the project. There must be a material yield from the investment of millions before other millions are put into the venture. This statement must not be construed as timorous or fearful, for the citizens of Newark have the greatest confidence in the future of Port Newark. It is simply a declaration that business cannot longer shoulder the burden of this project. It must be made to stand on its own legs and walk.

This assumption of independence within a year or two would appear to be warranted, if the several inquiries made at the Chamber offices are any criterion. Ranging from steamship companies, lumber yards and warehouses down to the smallest industrial plant, these inquiries are of such a nature that a rapid development is confidently expected. A start may be made with the leasing of one or more of the Quartermaster's warehouses, when the city concludes the present negotiations with the War Department. This step may be followed by the sale or leasing of surrounding tracts which are now ready for industrial development.

One swallow does not make a summer but there are prospects of the incoming of a flock of plants that will make Port Newark a well inhabited aviary of industry.

A regular freight service between New York and Barcelona, Marseilles, Genoa, Tangier and other North African ports will be operated by the Algerian-American Line, recently incorporated, and established at 44 Whitehall street. The first sailing will be that of the French steamer, Bay Verdun, on March 5. George H. Rayner, Jr., formerly with the Standard Oil Company, is head of the new enterprise. The secretary and treasurer is Vincent J. Ajello, who has been in the ship brokerage business, and the traffic manager is M. C. Richards, formerly with the International Maritime Corp.

The Port of Newark, New Jersey
(Continued from page 6)

nue will at once become one of the most important highways for auto truck traffic on the Jersey side of the Port of New York. And the third of the new roads which form the syswesterly across the port area, intersecting both Haynes and tem supplying Port Newark is Bay avenue, which cuts This artery enters Newark proper at a

Doremus avenues.

point in the very heart of the city's business life.

UNEQUALLED RAIL CONNECTIONS

No superfluity of description could exaggerate the extent of railway service that is provided directly into Port Newark. The Pennsylvania Railroad, which now operates the Waverly Transfer a few thousand feet south of the Port, has acquired an immense acreage immediately adjacent to the city-owned industrial sites. At several points only the width of Bay avenue separates the properties. The Pennsylvania plans to construct at this point the greatest break-up yard in America. Adjoining the Pennsylvania property, to the north, is the immense Oak Island vard of the Lehigh Valley Railroad, Still a little further north is the developed some years ago.

main classification yard of the New Jersey Central Railroad. The Philadelphia and Reading, and the Baltimore and Ohio both have trackage across Port Newark Terminal. Within lead to the bay front, are the D., L. & W. and the Erie railthe city of Newark proper, and connected with the roads that Such is the rail service to the bay front.

roads.

CITY PLANS TO ACQUIRE NINE GREAT WAREHOUSES In order to place all these facilities immediately available. for shipping purposes, Director Raymond, who is the directing head of the municipal organization developing Port Newark Terminal, is at present negotiating with the War Department for the acquisition by the city of the nine 1200foot warehouses that form the Army Base at the Port. These warehouses, which cost $1,000,000 each to construct, now are used for dead storage by the Army. Director Raymond has proposed that they be sold or leased to the city for active business. Specifically, he has applied for the use of three of the warehouses immediately, and such of the remainder as become available as their contents are removed to other Army bases located at less valuable points further inland. Secretary of War Weeks, with whom Mr. Raymond is conducting the negotiations, has requested Newark to appraise the Army Base for the purpose of submitting a bid to the War Department. This will be done this month.

INCREASING PORT NEWARK'S AREA

Director Raymond is engaged also in vigorously prosecuting the development of what is now vacant land directly across the ship canal from the Government plants; that is to say, to the south of the canal and along the bay shore. This area has 8,000 feet of water frontage. Bulkheads surrounding it are now completed, the contract having been let in early summer.

THREE GREAT PIERS TO BE BUILT

Three piers, each 1,200 feet in length and 120 feet in width, are to be constructed out in Newark Bay from this newly-developed area. As on the north development, a marginal dock, equipped with standard gauge tracks, will be erected, and just inside a series of warehouses are to be built. Back of these a railway classification yard will be constructed. That, in brief, sums up the next steps in the development down at the bay front.

N

Newark's Strategic Position Exceptional Location and Progressive Improvements Insure Its Rapid Development By Dr. Charles F. Kraemer

President Newark Real Estate Board OTWITHSTANDING disturbances to business and industrial life and the distorted mental condition due to the war, we are rapidly gaining our equilibrium and with strong capable and trustworthy officials, our municipal craft will soon be sailing in clear waters towards prosperity and success.

Nature has endowed us with a strategic position. Our industries are all preparing for the oncoming world's trade. Our seaport development is nearing the point where we can soon shelter commerce. Our great transportation questions, both passenger and freight, are rapidly being co-ordinated, and interstate communication is fast being established by the vehicular tunnel. What more could any city ask, what greater future could one want to look forth to?

From the real estate point of view there is no territory that holds out greater investment inducements than Greater Newark. We have seen land values advance from $3,000 to $22,000 a front foot on Broad, near Market street, in the last twenty years. Such increases are only indications of what will affect the entire business section of this city.

Dr. Charles F. Kraemer

Industries have made Newark what it is and the influx of new industries is only beginning. With the city's development of its waterfront and the deepening of the waters of Newark Bay, only those in close touch with the situation can appreciate the future of Newark.

There is every reason to believe that the adjustment of the building trade wage schedules will have reached a favorable turn by the coming Spring, and that building contractors are preparing for the event is noticeable on all sides. Capital is lowering its interest rates and is daily becoming more favorably inclined to mortgage loan investments. Rental returns are still large and offer exceptional inducement to those so investing.

PORT DEVELOPMENT IN GOOD HANDS

Further beneficial effects to real estate values can be anticipated by the probable completion of the Passaic Valley sewer and the Wanaque watershed during the coming year. And last, but not least, the undertaking of a vast industrial development along the lines of the Bush Terminal multiple loft buildings in the Port Newark Terminal area, as now under advisement and consideration by the engineer of the Department of Streets and Improvements. This is a feature that means more to the taxpayer than any other program that the city is considering. Director Thomas L. Raymond is to be congratulated upon his energetic prosecution of the waterfront work and the comprehensiveness of his future plans that will soon make this vast municipal enterprise a producer of revenue that will substantially be reflected in the city's tax rate.

With a steadily growing industrial influx and the distribution of these growing weekly payrolls, the return of a normal building era and aditional commerce and trade that our complete seaport will bring us, the year 1922 should be one of prosperity, contentment and happiness for our people.

FACTORIES

INDUSTRIAL WATER & RAIL SITES LOFTS, WAREHOUSES

Our aim is to solve your industrial real estate problems in most efficient way.

"Efforts of Year 1921 to Shape the Destinies of 1922"

Says Alvin W. Krech, President of the Equitable Trust Company of New York

TH

HE business year 1921 will not be fondly remembered by those among us who believe that the country's economic health is reflected primarily in the number and the size of dividends and extra-dividends. Nineteen twenty-one cannot boast of record earnings and capacity productions, but it can claim the distinction of having been the first post-war year to face the seriousness of the situation and to start the uphill job. It has been an austere year, a year of thoughtful planning, a year that chastened wisely. True it is that the individual business man is first of all concerned with his own affairs and is inclined to consider his own balance sheet as infinitely more important than the Federal Reserve Bank statement, but after all individual prosperity can only be the emanation of a general healthy state of affairs. And 1921, a year of deflation (and deflation, to quote Professor Gustav Cassel, means not only a reduction of expenses, it means also a corresponding reduction of incomes) has done much towards bringing back a healthy state of affairs. The business community was perhaps obliged to observe a rather disagreeable diet, but the banker, who is asked to diagnose the case, may now confidently point out quite a number of highly satisfying symp

toms.

As a body politic we are splendidly alive: The President's message, Director Dawes' report and Secretary Hughes' "thunderbolt" are splendid affirmations of our aptness to meet serious emergencies, in the most direct and matter of

fact manner. We have the men and we have the natural resources, and we must even admit that on closing of subscription days, we were lately quite under the impression that the country's savings have not as yet been entirely depleted by an unhappy system of taxation. Incidentally one may also recall that the ratio of reserves of our Federal Reserve Bank is about 73 per cent.

The international situation is rich in fair promises. Secretary Hughes launched in Washington a bold "peace offensive" which should win for the world the inestimable trophy of international economic understanding. Last year we recorded a few shy attempts at real world pacification, and today we could cite a hundred instances reflecting the world's fervent desire for peace. There is perhaps no more significant gesture than Marshal Foch's chivalrous proposal that the defeated nations be aided so that they may be reestablished commercially. Victory does not rest after the laurels have been plucked, and it is our imperative duty, from self interest if not from any other reason, not to abandon those who need our co-operation.

I confidently hope that the destinies of 1922 will be happily shaped by the strenuous and courageous efforts of the

past year.

ALVIN W. KRECH.

The Port of New York has a waterfront on its rivers and bays of 771 miles in length. This distance if stretched cut along the Atlantic Coast would reach nearly from Charleston, S. C., to Boston, Mass., or it is nearly twice the airline distance from Boston to Washington. In a westerly direction on an airline, it would extend from New York to a point more than 100 miles west of Chicago.