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HARBOR AND MARINE REVIEW
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
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 system supplying Port Newark is Bay avenue, which cuts westerly across the port area, intersecting both Haynes and Doremus avenues. This artery enters Newark proper at a 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 yard of the Lehigh Valley Railroad, developed some years ago. Still a little further north is the 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 the city of Newark proper, and connected with the roads that lead to the bay front, are the D., L. & W. and the Erie railroads. Such is the rail service to the bay front.
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 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.
HARBOR AND MARINE REVIEW
Newark's Strategic Position
Exceptional Location and Progressive Improvements Insure Its Rapid Development By Dr. Charles F. Kraemer President Newark Real Estate Board JOTWITHSTANDING 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.
INDUSTRIAL WATER & RAIL SITES LOFTS, WAREHOUSES
Our aim is to solve your industrial real estate problems in most efficient way.
HARBOR AND MARINE REVIEW
"Efforts of Year 1921 to Shape the Destinies of 1922"
Says Alvin W. Krech, President of the Equitable Trust Company of New York
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
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 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
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.
Our Foreign Exchange
is organized and equipped to serve exporters and importers with the maximum of efficiency and at the minimum of cost. It issues export and import letters of credit, handles foreign collections, sells travelers' checks and letters of credit, buys and sells foreign exchange, buys and sells foreign money and gladly places at the disposal of its customers a service that is complete, appreciative and courteous. You are cordially invited to
Come In and Talk It Over
Fidelity Union Trust Company
BROAD AND BANK STREETS
NEWARK, N. J.
Largest Banking and Fiduciary Institution in New Jersey
Member Federal Reserve System
HARBOR AND MARINE REVIEW
Newark's foresight in starting the development of New
These enterprises have served to show what Port Newark,
perusal of everyone interested in the Port of New York's
When the people of Newark decided to bond the city for
fested its spirit of enterprise and determination not to allow
Newark's reputation as a great manufacturing center is
THE PORT OF NEW YORK is proud to record Newark's
Before the war the value of the foreign commerce
the foreign commerce of the Port of New York was
HARBOR AND MARINE REVIEW
The Fight Over Port Betterment EFORE the New York Legislature directed the City of New York to build a passenger and freight tunnel to connect Staten Island with Brooklyn, the Port of New York Authority was functioning. It had been directed by the same legislature to prepare a comprehensive plan for the improvement of the Port of New York and present it at the opening of the legislature this year; and the Port Authority was diligently at work preparing its plan and arranging for its support before the New York and New Jersey legislatures. But the act directing the City of New York to construct the Staten Island-Brooklyn tunnel gave the city an opportunity, which it has made the most of, to seek to substitute the tunnel it was directed to construct, and its necessary connections, for the whole plan of the Port of New York
Authority. In this the city went far beyond the requirements of the tunnel act, and the scant consideration that the city government's attempt at substitution has received at the hands. of the press, and, as far as can be judged, the public, is largely due to that attempted act of usurpation.
The Port of New York Authority, on the other hand, has seen fit practically to ignore the Staten Island-Brooklyn tunnel, its attitude toward it being seemingly neutral, but, in effect, at least, hostile. The New York, New Jersey Port and Harbor Development Commission, which preceded the Port of New York Authority in the work of framing a comprehensive plan for the development of the Port of New York, planned a tunnel to connect New Jersey with Brooklyn, so near to Staten Island as barely to escape touching it, and which, seemingly, could very easily indeed have been carried a little farther south and have passed through Staten Island, just as easily, it would seem, as the Port of New York Authority found it to move the proposed New Jersey-Brooklyn tunnel considerably farther north, in order to locate it at the Greenville terminal of the Pennsylvania railroad. The Port of New York Authority, it should be recalled, is composed of four of the six members of the New York, New Jersey Port and Harbor Development Commission, and the same staff of engineers serves the Port of New York Authority that served the New York, New Jersey Port and Harbor Development Commission. No reason is given that we have seen for pushing farther north-farther away from Staten Island -the New Jersey-Brooklyn tunnel. If the people of Staten Island, and, for that matter, of the City of New York, draw from that action the inference that the Port Authority desired to avoid any contact with the Staten Island-Brooklyn tunnel, they are not altogether unreasonable.
The whole fight, therefore, over the comprehensive plan of the Port of New York Authority centers around the location of the tunnel that is to connect New Jersey with Brooklynwhether it shall go direct, starting at Greenville, New Jersey, or by the way of Staten Island. There is a very general belief that the adoption by the legislatures of the two States of the Greenville-Brooklyn tunnel will lead to the postponement if not the entire elimination of the Staten IslandBrooklyn tunnel. The City of New York, to be sure, may go forward if it chooses and construct the Staten IslandBrooklyn tunnel, whether it becomes a part of the Port Authority's plan or not. That is what it should do, without
waiting for any amendment to the bill directing it to construct the tunnel. When the tunnel is completed and it then is found that to insure its most efficient and economical use it should be supplemented with municipal rail connections with the New Jersey railroads and the railroads in Brooklyn, it will then be a much easier matter to secure the necessary authority than to await such authority before going ahead with the tunnel at all.
The legislatures of New York and New Jersey have it in substitute for the Greenville-Brooklyn tunnel the Staten their power so to amend the enabling acts before them as to Island-Brooklyn tunnel, and to give the city authority to make the necessary rail connections it asks for. If the bill of the Port Authority were amended in this fashion, then the city of New York would be forced to fight its own tunnel
project in order to defeat the Port of New York Authority's
comprehensive plan, and so radical an attitude as that the City of New York would not be likely to take, or, if it did take it, it would have no standing with the people in such an attitude.
The Newark Chamber of Commerce has just adopted a resolution opposing the construction of the tunnel between Greenville and Brooklyn, saying it would greatly add to freight congestion through Newark. It is planned to connect Newark with the Greenville tunnel over the existing Pennsylvania railroad drawbridge, already used to the limit by existing traffic. Again, if the Port Authority's plan is adopted that body will possess no alternative location for its tunnel in negotiating for the purchase from the Pennsylvania railroad of its necessary Greenville connections and right of way.
We have been advised that the Port Authority does not expect its break-up yard will be permanently located near Croxton, but that eventually its break-up yard will have to be placed farther back (west) and south, more in line with Staten Island, an additional point in favor of the Staten Island-Brooklyn tunnel.
The city engineers and the Port Authority engineers have never discussed their plans with each other, nor has the Board of Estimate and the Port Authority done likewise. In advance of final action, however, these engineers should get together, with a group of disinterested engineers, including the engineers of the railroads terminating at New York, and discuss the plans in their every feature, with a view of arriving at a common, single plan. If that can be accomplished the Port Authority and Board of Estimate concur, and the New York and New Jersey legislatures asked to amend the bills to conform.
The Staten Island-Brooklyn municipally constructed tunnel can be built and connected so as to serve every end the Port Authority has in view in locating the westerly end of its tunnel at Greenville, rather than at Staten Island. Considering Staten Island's twelve new piers, likely to increase the freight traffic of Staten Island by 15,000,000 tons annually, Staten Island is deserving of this relief.
Port Newark, a part of the City of Newark, is being rapidly developed at the expense of the City of Newark, besides which that city is expending $1,250,000 of its own money to make a 31-foot channel from deep water in the Upper Bay of Newark to its waterfront development.