FIRST BOSTON OBJECT LESSON 57 
$275 per square foot, in 1907. This assessed valuation 
of $275 per square foot for land is the highest in Boston, 
in 1893 the estate had been sold for 1350,000. The 
present building was erected in 1881, but it is no 
distinct improvement, in height or otherwise, over 
its predecessor. Isvit reasonable that the owner 
of this land should in fourteen years realise an 
increase on his investment of 59 per cent (8207,000 
°n $350,000), and business reap little apparent 
advantage in accommodation during twice or thrice 
that time? 
in 1907 the estate was paying the owner an income 
of about $25,000. The Transit Commission took this 
estate by eminent domain, and settled for it in 1908 for 
1630,000 or $320 per square foot for the land and build- 
tngs. After appropriating subway station accommo 
dations, it leased the balance of the estate for the 
s um of $28,000 a year and taxes, or $36,000 as long 
as no taxes are assessed. This is a return of about 
per cent net on the purchase price of $630,000, 
° n which sum the city is paying—as the money was 
borrowed—about 4 per cent. 
^hat Better Buildings Mean 
Query. Is it not a fact that with up-to-date 
buildings, having ample rear courts for the receipt 
a nd shipment of goods, business might be far better 
a ccommodated, and Winter Street be made 20 feet 
yider in the bargain? Would not up-to-date build- 
ln gs on Winter Street at least double the business 
Accommodations, and hence be equivalent to doub 
ling the area of the land? 
The limited land space of Winter Street commands