New-York tribune., 1899-05-11
REALTYEXCHANGESE SELLS OUT
NEw-YORK REALTY, BOND. EXCHANGE
AND TRITST COMPANY THE BUYER.


The Real Estate Exchange and Auction Room
property has been sold for $4,000 70 the New-fork
Realty Bond Exchange and Trust Company. The
transaction was negotiated by Richard v Harnett
e. Co Mr. Harnett is himself the president or
the Exchange. and has been one OF Its largest
shareholders and director ever since its organlza-
ton. in 1888
The purchasing company Is corporation recent
" organized for the purpose Of operating in real
estate and it's securities. It's active spirit and or
ganizer Is Henry Morgenthau. It's capital or
81 10000 and a surplus fund Of 100000 are fuly SUD-
scribed and paid in. In its comprehensive charter
It is authorized TO increase its capital to 100000
It includes among its charter members Frederic
P Olcott, president OF the Central Trust Company;
Anthony y. Brady, Hugh J. Grant. Henry @ Have Have,
6sn, o. 'Gnn fSs cy Yaona RanE ames
j. Adoph Mollenhauer. Frederick Southack, Alwyn
Ra y r. one n9 o the a Ossco
nings and Henry Morgenthau.
The Board Of T Be eE aSsh Di ne
Grant Anthony. y. Brady James stillman. Henry
smes II Post 'o Frederick southack xlwyn Ball
jr Ernest Ehrmann, Michael Coleman and Henry Henry
OF the company and Hugh ]. Grant first vce-pres-
erE the psoe @ feet RrSgPty on he SS north side and
on the west line; 1t therefore contains about ISls
cRanse cGRa1ss 'fsl publshsd & fso s.
HscS ne @ ses Ssnay S2nss Of g.
provements. siis38S ss records. maps and hxtures
sl2 653 co. making total OF Ss4 sst 20 20 m Inc napil
to the United States Trust Company $4,000 at per
cent; balance. s11 .SS4 20: total. si8i TO- 40 -,
The Exchange was organized in 1889, with Edward
LUDLOW s first presidents sGnod sqe Fredman Sna5a Al
bert Bellamy Samuel F. jayne, Van Rensselaer e,S,
shank. John II sherwood James Stokes and David
possession OF the Libertyst property on Apr 10
Cottage at Long Branch. H. H. Cammann F. 4
Cruikshank. George Hobart Scott George r. Reaa
Fly & Co and Richard V. Harnett have been
successive presidents of the Exchange -.
montary plant and records Of the Exchanse-a
the property of the Exchange; in fact. except ,,s
franchise and the portraits OF US presidents tnSs Ss
nupnnse Of the purchasing corporation extensively
10 alter the building. to use the big auction
room "a ana rent the remainder The company is
present at No III Broadway, where u appears ~
an organization committee win the ,iin nale Rail
~ and Henry Morgenthau on its outer door.
In statement issued yesterday 1t was announcedd
that thn auction-room is 10 be altered into bank
ing Office for the new company one o, tne niah an
purposes OF the company as announced' Is 10 ,es as
slst in making real estate negotiable ana use
fuI as collateral. Another Is to aid persons ct
comparatively small means in paying interes. or p
naVment OF the principal and interest on mort
eaSee and to issue bonds against real estate mo,,
cages The company also intends to nnance puaiu, @
Inc loan operations and act as trustee and manage
rea estate for estates and persons II aims N gen
era to do banking business lot reai @ sr esa busi
ness the company will conduct general banking
and trust business receiving depos's suI1ec' u
cnsc seature az of the new company's business i Is
said viii ultimately be an exchange wnch M u as Is
q. aocrrities II was said that no auction sales OF
real estate are to be held on the premises