FRENZIED DEALS IN LAND.
PROFIT OF £13,000 MADE IN TWO HOURS. NEW YORK, Aug. 4. The rush to buy building plots which began a fortnight ago at Rockaway Beach suburbs reached a climax last evening, when 4000 residents participated in frenzied trading, in which hundreds of thousands of pounds changed hands. Lots worth £4O a year ago are nowreported to he selling at £350 per foot, and many people who were comparatively poor a few weeks ago are now rich. A parcel which sold for £BOOO this week was purchased two hours later for £21,000. The rush to buy started on a report, that a scheme was projected which would make the resort a rival of Atlantic City. A proposed new boulevard also aided it. Prominent city politicians are among those profiting.
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Hawera Star, Volume XLV, 9 October 1925, Page 8
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132FRENZIED DEALS IN LAND. Hawera Star, Volume XLV, 9 October 1925, Page 8
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