New-York tribune., 1902-07-19
BIG REALTY COMBINATION.
COMPANY WITH s6o,00o,o00 CAPITAL
UNDER CONSIDERATION

A movement is under way TO bring about the
/ formation of the largest realty company ever
planned. If il is successful-and its projectors
think it will belt is expected to effect great
change for the better in the purchase, improve
ment and management of real estate properties
in this city. 1t will have capital of at least
$60,000,O0O, of which S300ooooo will be pre-
ferred stock and $30000OO0 will be common
stock. Though the New-York Realty Corpora
tion, the Central Realty Bond and Trust Com
pany and the George A Fuller Construction
Company. three of the leading companies of
their kind in this country and a number of
other We'll known real estate and construction
companies, will probably, according TO the pres
ent plan, form part of the 900 corpora
tion, the proposed great corporation will in no
sense be trust. In the last five years real
estate operations have assumed stupendous
character. To be more explicit, the sums in
volved in the principal deals of any week or
month have risen from the thousands into the
millions, the small Office buildings costing sew
eral hundr u thousand dollars have been sup
planted, as a result of the growth of the real
estate market. by skyscrapers valued at many
millions of dollars, and most of these vast i'm
provements have been made by realty COM
panies Not long ago plans for the Improvement
o. a single building parcel attracted con-
siderable attention. Such a deal usually no
longer attracts attention. unless the premises
TO be improved is landmark or there are
millions involved Undoubtedly, one of the
greatest factors in bringing about these changes
have been the realty companies, and the ma
jorty of real estate experts think that the time
has come for the creation of real estate com
pay with a capital OF at least S60000000
No company has yet signed an agreement to
become a part Of the proposed corporation. The
matter has been discussed only at an Informal
of Of he
terested in the success OF the project. II is not
likely that the corporation will be formed be-
fore another month has passed and the
ganization of the proposed corporation may not
take place until about the middle of Septem-
Der, II may be that the new corporation will
comprise the New-York Realty Corporation the
Central Realty Bond and Trust Company and
the George A. Fuller Construction Company and
no other companies. If the corporation is or
ganized those companies will certainly form part
of IT, The common stock of the George A. Fuller
Construction Company yesterday rose from
54Ss to ST. and preferred from 81 10 98.
II was learned yesterday from of the
originators of the project that the president Of
the proposed company would not be real
estate man, but a prominent in financial
circles. 1t is said that one or two representa-
tives Of ]. Pierpont Morgan are likely 10 be
stockholders.
~
was incorporated under the laws OF New-Jer-
sey on April 1. 1901. and succeeded the George
A Fuller Company OF Illinois. II was capital
ICED with $4,000 900, s., 900 600 preferred and
SD 900 common. Harry ;. Black is the
president Richard q. Babbage, secretary, and
Byron NJ Fellows treasurer. The directors
James Stillman, Hugh ]. Grant. Henry Morgen-
thau, Harry :. Black, s. P. Mcconnell and
Thorwald StallRecht. The main office is at No.
1S5 Broadway
The Central Realty. Bond and Trust Company
IS capitalized at 81 100000 Henry Morgenthau
is president; Ernest Ehrmaun. secretary. and
Judson w. r. Mills treasurer, James Stillman
and Hugh J. Grant directors also OF this
company. and some OF the other directors are
Anthony N Brady John o. Crimmlns. Michael
Coleman. Augustus d. Juilliard and Henry o.
Havemeyer. It's Office is in the Boreel Building.
No. 1l5 Broadway. which IL bought and resoid
some months ago. 1t is said that Charles NJ.
schwab, president OF the United States Steel
Corporation. is large stockholder OF the COM
pany.
The New-York Realty Corporation was in
corporated with capital Of S3,oQ0,OOO. Bradtsh
Johnson is president Robert h. Bowling and
Albert Flake are vice-presidents and active man
ayers and Morris b Mead is secretary. Among
its directors are Cornelius Vanderbilt, James
Speyer. Charles II. Tweed James n Hyde'
David B. Ogden b. Aymar Sands, Frank TIL
ford and Charles Steele.
The Alliance Realty Company was capitalized
at So 600 900 Frederick Southack is president,
Alwyn Ball, Jr, secretary and Michael Coleman
treasurer. Among it's directors are Charles L
Barney George n. Read and John r. Hegeman
William II. Chesebroush is president OF the
Century Realty Company. 1t has capital OF
$lOOOOOO Among its directors are warner van
Norden and Harry b. HollinS.
The General Building and Construction Com
pany has a capital of $2,500,000. 1t was or
ganiZed some months ago.
The New-York Realty Corporation was formed
a little more than a year ago, and since then
it has taken one Of the leading places III the
real estate market. Some of its operations nave
been the purchase and sale of the Union Build
ing, at Pine and William SITS; the huhn-Loeb
Of Pinesst between Nassau and William SITS.
| In May last the George A. Fuller Constructor
Company bought the Plaza Hotel for S3OoOooo
Associated with the construction company In
| that deal were the Central Realty Bond and
| Trust Company and Haligarten & Co. The
| George A. Fuller Construction Company also
| has a large interest in the Broad Exchange
| Building. at the southwest corner Of BIoad-st
and Exchange Place, The Alliance Realty Com
! pany is also large owner OF stock of this
! building For the construction company. the
! Central Realty Bond and Trust Company has
negotiated many big realty transactions, in
| Guiding the new Flatiron Building, at Twenty
! third-st. Fifth-ave. and Broadway, and the
! Flatron parcel at Forty -second-st.. Seventh
| and Broadway.
! and Trust Company are the Young Mems Chris
tian Association building at the southwest cor
! ner of Fourth-aVe. and Twenty -thrd-st., sew
eral lots in the Roman Catholic Orphan Asylum
blocks in Fifty-first and Fifty-second SITS, Fifth
and Madison aYes., and. with the New-York
! by Broadway, Eighth-ave, Fifty-sixth and
! Fifty seventh SITS.
! The Century Realty Company organized the
! company which is erecting the Battery
! Place Building, in Battery Place, between
Washington and West SITS. and recently bought
| as a site for Office building a large part
of the triangular parcel bounded by Beaver
Wall and Pearl SITS