The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-11-21
Rsst @aatt.
Rtal estat..
Company
The John Petit ]
of New York

GENERAL STATEMENT: The COMPANY is regularly incorpo-
rated under the general laws relating to corporations OF the
State of New Jersey.
Its Authorized Capital is 100000, represented by 10000 shares
of Preferred Stock of the par value of 800 per share, and OF
10000 shares of Common Stock, of the par value of 800 per
share.
The Business of the Company will consist in the ownership and
operation for the income of high class industrial real estate IN
the Borough of Manhattan, in the City of New York.
PROPERTIES: THE JOHN PETIT REALTY COMPANY, as its
name implies, is the corporate owner and representative ,of
valuable real estate that has long been identified with Mr.. John
Petit, the wel-known Builder and Operator. The first OF
these is the '- .... 's-5
Bennett Building, a substantially built ten-story, freproof office
building, occupying the entire block front on Nassau street,
between Fulton and Ann streets, fronting one hundred feet in
Fulton street and s%eventy-fve feet in Ann street.
The Location is one of the best in New York City and is con-
stantly improving. The most notable development in retail
trade in recent years is that on and near the corners of Nassau
and Fulton streets and of Nassau and Ann streets. Rents on
these corners have increased at a greater rate than in any other
locality. The Bennett Building is one of the best paying prop
critics of its kind in New York City and, Notwithstanding the
fercest competition from many newer buildings, is always
fully rented to the best class of tenants. 1t never paid bet
ter than at this present time. The second property of the
John Petit Realty Company is the new
Beekman Building, on the southwest corner of Beeknan and
Pearl streets, having a frontage of 100 feet in Beekman street
and % feet in Pearl street. The Beekman Building is of brick
and iron construction, seven stories in height, and was built to
give tenants the maximum of light and all conveniences at the
lowest rentals. 1t has been fully occupied by a good class Of
tenants ever since it was built. ..a
THE FINANCIAL POLICY of the John Petit Realty Company
contemplates the ownership of these properties free and clear
of all membranes except the Preferred and Common Stock
of the Company. Out of the profits from rentals dividends
amounting to six per cent. annually, payable semi-annualy on
the first days of May and November, are to be first paid on
the Preferred Stock. The net profits over and above this six
per cent. inure to the benefit of the Common Stock. Of the
authorized issues
100000 OF PREFERRED STOCK, represented by the properties
above described, are now offered for sale. The remaining
$4,000 will. remain in the Treasury and will be issued only as
poou ha paaHaH f n h nrchnSa M DorrONar1ap nf 0thar cpo-
liar properties. Mr.. Petit retains the Common Stock as his
own individual property. Only the Preferred Stock is offered
for sale, and this is to bear dividends only from the date of
issue.
THE COMPANYS REVENUES must, of course, in the end, deter
mine the value and deSirabnity of the Company's securities as
investments. The net income from the two properties above
described, and now the property of the Company, is 1880.
A six per cent dividend on the 100000 of Preferred Stock
would be 4 ,4oo, leaving $1o,55o for the Common Stock.
When existing membranes shall have been paid off this stock
will be more than doubled in value.
SUBSCRIPTION BOOKS will be opened at the offices of the Com
pany on Monday at 9 o'clock. Subscriptions are invited at
par for the 100000 Of Preferred Shares only. Subscribers
will be required to pay Is per cent. on subscription and the
balance when the certificates of stock will be ready for delivery,
December list. ..
1T IS THE WISH of the management, however, to especially in
terest our minor capitalists, people who are customary patrons
of the Savings Banks and Building and Loan Associations, in
these securities, and they have, therefore, provided a series of
SUBSCRIPTION SCRIP, in denominations of $40. bearing inter
est at E per cent. from day of issue, and exchangeable in sums
of 800 par, for certificates of Preferred Stock.
OFFICES of the JOHN PETIT REALTY COMPANY are at No. 30
East Twenty third Street.
JOHN PETIT, PRESIDENT AND TREASURER.
j. w. SPENCER, FIRST VCE-PREsIDENT.
A. C. QUARTER, SECRETARY.
HERMANN DE SEEDING, MANAGER.
We court investigation. A fuller prospectus will be
furnished upon application to the President or rlanager.
TO LoAN . 1oW TO