Apropos of all this idle money, herein is some explanation of the high land values mentioned in my last letter. For want of an industrial outlet, capital is turning to land. 1 see it stated In one City paper, that, no fewer than 908 new property companies were formed ast year.
nly yesterday one of the leading, West End Estate ayonts advertised that it was seeking investment for £2% mullions of is clients' money. Much of this idle money is being put {into the pulling down of the stately mansions of Portman Square, Gros-j venor Square, and the like, ullding flats, the increase of which everywhere is one of the most noticeable signs of "changing London." But the rents asked are undoubtedly too high. I have heard of more than tone instance of flat-owners being forced to shut their mouths a little Our land speculators might do. well remember the fate of Florida.
Text read from the printed page and cleaned; old type leaves the occasional error.