FIRST BOSTON OBJECT LESSON 
61 
location of A. Stowell & Co. (Fig. VI) would afford 
to business four times as much floor space as 
now at one-quarter the present average rental per 
square foot. 
The ground rent of 5 per cent on $130, the assessed 
valuation, would l}e $6.50 per square foot. The 
rent of a building eight stories in height, costing $50 
per square foot, would be fa.50 per square foot, mak 
ing ground rent and rent of building together $9 per 
square foot. Subtracting from this $9 three-quarters 
(16,75) for ground floor and basement, there is left 
for the remaining seven floors $2.52 per square foot, 
°r 32 cents per square foot for each floor. Upon the 
area of 4,630 square feet at $6.75 per square foot, 
this means a total rental for ground floor and 
basement of $31,253, and for the other seven floors 
110,417, or an average of $1,488 each. This 
figure is probably much under what such floors 
Would actually command. 
This estate occupied by A. Stowell & Co. costs 
the city of Boston just as much in the way of 
Public service as it would with the finest possible 
building. It is this constant expenditure for public 
service that maintains the value of the land, while 
adding nothing to the value of the buildings. 
Further, maintenance is not all. The present value 
°f the land has been paid for, dollar for dollar, by 
the people of Boston. Why should not this estate 
P a y taxes in proportion to the taxes that are spent 
Upon it? 
Query. Is it reasonable that the business of A. 
Stowell & Co. should be required to pay $30,000 
ground rent (5 per cent on $600,000 worth of