New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-11-28
New York City
Real Estate Securities.

The John Petit Realty Company has
been organized for the purpose OF pur-
chasing, improving and operating. for
profit the higher grades OF New York
City real estate.
It now owns, by conveyance on Nov. IL
and 20, from Mr.. John Petit
The Bennett Building, on Nassau, Fulton
and Ann streets. a lO-Story tIre-proott
business and office building, built for and
once the property Of the elder James
Gordon Bennett, founder of the New
York Herald; and
The Beekman Building, on the southwest
corner of Beekman and Pearl streets, az
story substantially built iron and brick
business and office building.
Both of these buildings are fully rented to a
responsible and in all ways desirable
class of tenants Rents in the localities
in which these buildings are situated have
increased in greater ratio during the last
ten wears than in any other section OF the
civ. There are but few better paying
properties in the city.
The Capital Of the Company is represented
by $1,000 900 Of stock, Of which one
half. or Sl,O00,000, consists OF 10000
shares of Preferred Stock, Of the par
value of $lOO per share. and the other
half OF 10000 shares Of Common Stock,
of the par value OF 500 per share.
Dividends at the rate OF per cent. per
annum are paid out of the profits of the
Company from rentals OF its property
on the Preferred Stock, the same payable
on the first days Of May and November
of each year.
Of the surplus revenues one-hali VIII De
paid into sinking fund to be applied in
extinguishnent Of the mortgages upon
the property.
The net income from the properties at the
present time is at the rate OF s5l, $50 per
annum over and above all expenses, in
Guiding taxes and interest. A SIX per
cent. dividend on the Preferred Shares
now issued and for sale to subscribers
will amount to $4l, 400, leaving for the
Sinking Fund $40, $50. But it is the in
tention to apply $500, 900 Of the sum
realized from the sale Of the Preferred
Stock in the reduction of existing mort
cages, and the interest saved on this sum
will add $40, 900 annually to the surplus
revenue.
OF the Preferred Stock $500 900. repre-
senting the properties above specified, is
now offered for sale a: par and accrued
interest in shares OF $500, at the Office OF
the Company. Only the Preferred Stock
will be sold and no more will be issued
against present properties, except IN re-
duction of mortgage debt.
The Management reserves the right 10 ad-
vance the price OF the preferred shares at
any time and without notice.
To facilitate the distribution of its securl-
ties among as many people as possible.
system OF SUBSCRIPTION SCRIP has been
provided, in denominations OF $40, draw
ING dividends at the rate Of per cent.
per annum from the date of purchase.
and convertible on request into 6 per
cent. Preferred Stock in sums OF $500.
As investments the desirabty of these Sc
curities will be manifest TO everybody who
knows anything about New York City
real estate. They cannot be eXceled
either in point OF security or profit by
ANYTHING in the whole field OF invest
ments The Preferred Stock will with
out doubt command premium in the
near future and as soon as the full I'M
portance and absolutely unasSallable char
acter Of the enterprise shall have been
appreciated by the public
A Prospectus, with more detailed informa-
ton OF the Companys plan will be fur
nished on application 10 the Companys
office. The fullest investigation is So
licited and questions which we may not
have anticipated in our prospectus and
public announcements will be cheerfully
answered by any Of the officers Of the
Company.
The John Petit Realty Company.
No. 30 East 23d ST., near Madison So.