New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-11-21
Real estate.
Real Gsiate.
The John Petit Realty Company
of New York

of New York
INVITES PUBLIC SUBSCRIPTION preferred Capital Stock and
tFeelpon makes the following
GENERAL STATEMENT: THE COMPANY regularly incorporated
under the general laws relating corporations OF the State of
New Jersey
Authorized Capital 81 600 Ooo represented by 10000 shares
of Preferred Stock of the par value of 500 per share and Of
10000 shares of Common Stock Of the par value 500 per
The Business Company will the ownership and opera
ton for the income of high class industrial real estate TIE
Borough of Manhattan in the City OF New York.
PROPERTIES: The John PETIT REALTY COMPANY as us name Ill.,
plies the corporate and representative OF valuable real
estate that has long been identified with Mr. John ett the we'll
known Builder and OPERATOR The first OF these IS the .
Bennett Building substantially built tensory repool office build
ing occupying the block front Nassau street between
Fulton Ann Streets fronting hundred feet in Fulton street
and SeVenty-fi feet in Ann street
The Location one of the best New York City and constantly
improving The notable development in retail trade in recent
years that and the corners OF Nassau and Fulton ee
and of Nassau and Ann streets Rents on these corners have m
creased at greater than any other locality he Bennett
Building is one of the paying properties OF its kind in New
York City and notwithstanding the eces competition romm many
newer buildings always fully rented to the best class OF tenants
1t never paid than this present time The second property
of the Iohn Petit Reality Company is the new
Beekman Building. the southwest corner OF eeknan and iea
streets having frontage of 100 feet Beekm street and 3 feet
in Pearl street The Beekman Building OF brick and iron con-
Srucon stories height and was built to give tenants the
maximum of light and all convenences at the lowest rentals
been fully occupied by good class OF tenants ever since was
The FINANCIAL POLICY of the John Petit Realty Company CON
templates the ownership of these properties free and clear OF all
membranes except the Preferred and Common Stock OF the Com
pany Out of the profits from rentals dividends amounting to SIX
per cent annually payable senanna on the first days OF May
and November are be first paid the Preferred Stock The
net profits over and above this cent nue to the benefit OF
the Common Stock. OF the authorized issues
OF PREFERRED STOCK represented by the properties
above described are offered for sale. The remaining S3OO
will remain the Treasury and will be issued only as may be
needed purchase and improvement of other similar proper
ties Mr. Petit retains the Common Stock his own individual
property Only Preferred Stock is offered tor sale and this
to bear dividends only from the date OF issue
REVENUES must OF the end determine
the value and desiabty of the Company securities as invest
men The income from the two properties above described
and now the property of the Company, $50 six cent
dividend on the $500 Preferred Stock would be $l4
leaving $40 $50 for the Common Stock When existing ncm
brances shall have been paid off this stock will be more than
doubled in value.
SUBSCRIPTION BOOKS will be opened the Offices of the Com
panv on Monday at O'clock Subscriptions invited for
the $500 600 of Preferred Shares only Subscribers will be required
to nav pes cent subscription and the balance when the
icates of stock will be ready for delivery, December 1st
IS WISH of the management however, to especially interest
orr minor capitalists people who customary patrons of the
Savings Banks and Building and Loan Associations these
rites and they have therefore, provided series OF SUBSCRIPTION
SCRIP denominations of $40 bearing interest per cent from
dav of ISSUE and Xchangeabe OF 500 par for certificates
of Preferred Stock
OFFICES of the JOHN PETIT REALTY COMPANY at No. 80 East
Twenty Third Street.
lOHN PETIT PRESIDENT TREASURER
w. SPENCER, FIRST WCEPREsIDENT.
A. C. OUARRER, SECRETARY.
HERMANN DE SEEDING, MANAGER.
We court investigation fuller will he furnished
unon application to President Manager
RluLDING & SANITARY In the Greater New York