On Long Island

The battle front in real estate remains, of course, Florida, where the boom is still in full swing; but there is indication that subsidiary fronts are or soon will be established elsewhere if present conditions continue for much longer. Long Island appears already as a likely spot. A few months ago a restricted but dramatic boom appeared at Rockaway, where real estate prices skyrocketed at the prospect of a shore development.

But last week attention was shifted to farther out on the island, when the Phipps Estates-- of which Henry Phipps, Pittsburgh steel man, former colleague of Carnegie, is the leading figure--bought 3,000 acres in Suffolk County with several miles of frontage on the Atlantic Ocean and Shinnecock Bay. The Phipps estates have also an option on another large tract. A month ago Carl G. Fisher, Miami real estate man, bought 9,-000 acres near Montauk Point. And Otto H. Kahn last week leased for 15 years, with option to purchase, 678 acres at Easthampton --for purposes unmentioned. Shore property is reported to have risen from $30 to $100 a front foot. Various Florida real estate men were reported to be going in.

As yet the large operators figure chiefly in the Long Island boom, but a little more encouragement from them may turn the Long Island real estate situation into a fine frenzy of speculation.