New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-06-15
THOUGHT HE HAD A BANK
Buyer at Tap Arrears Sale Jolts
Financial Institution.

Daniel Eichler. of No SO East 120th-st, yes
terday bought a lot at the tax arrears SAFE aI
the City Hall which stands part OF ths
National Park Bank, at Fulton-s.- and Broad
way When he Went to the bank to look over
his purchase the bank people refused to Vacale
and treated him cavalierly. Such half houf
as Mr.. Eichler put mi He still was taking
about it to his neighbors in East 12oth-st. last
night hours after the great happiness OF owning
part of bank had come to him.
Just how the bank people came to allow one
of their lots to be knocked down at public auc-
ton for a claim of 81 800 80 will for long time
remain a painful subject with them, but their
chagrin is lightened or solaced, or mitigated' TO
some extent by the remembrance of the sublime
happiness on the face of Mr.. Eichler when ne
presented himself at the bank
What can we do for your" Mr.. Eichler was
asked.
''Oh, just came down to look the place over
bought It," he said, pleasantly.
One or two clerks dropped their pens. The
adding machine stopped working. The office
boy boited for the office of the cashier and broke
the news to him.
You must be mistaken" said one of the bank
officials The bank is not selling it's real es-
tate or allowing the city to do it,
We'll" said Mr.. Eichler, Il just bought a lot
under this bank for 81 $3.50 &c. and have got a
recent for it from the city. You gentlemen
have allowed the city to go ahead and sell you
ont and I happened to be deck and bought
the lot I guess I'll be nice landlord to you'
but don't want any funny business.
The bank called up the title guarantee firm
which five years ago received pay for fix
ing the titles to its new lots, and wanted to
know if II was true that they had been sold out
for arrears of taxes. The company said they
guessed not as everything was free and clear
when they examined the records in 1900
Tn the large blanketlike printed list OF par
ceIs to he sold for arrears of taxes the parcel
bought Yesterday by Mr.. Eichler is scheduled
as follows:
..No so Fulton-st, n. side Broadway and
Nassau: old number, block ~, lot NO. q; ne"
number block SO, lot ID: assessed to Johh
Downey; amount of taxes and water rents un-
paid $3.50 So
Who John Downey is and how he came TO let
tho arrears stand till the lot went under the
,,o,,,oer were not explained last night. The lot
+oi,,11, is covered by the National Park Bank
rrt. General location OF the lot aroused the IN
forget of the bidders at the sale. Under the
,err,s of the sale the lease of the property solo
for tag arrears goes to the one who agrees 10
accent the same for the shortest term Oh years
in consideration of advancing to the city the un-
LID +sxes or water rents. or both together, with
accrued interest thereon and the costs ana
charges incident to the sale
All that Mr.. Eichler got was certincate OF
cole which after two years, should the banks
1+ reroain ,,nredeerned, is exchanseable for q
lease. The bidding started at 900 years and
gradually went down to five years. when IL was
closed ont on Mr.. Eichler's bid
II was said by the Controllers staff that Mr..
Eiob1er under the terms of the sale, would be
entitled to an interest charge Of SCI 81. without
SO much as turning a hand and that the oa al1s
o-Id ba We TO nav this amount before they could
get satisfaction.
Meanwhile MI Eichler does not exactly know
whether he is a banker not. He is glad that
he bought the lot, and is going to let the bank
oH1ces and the title guarantee people chase him
around for a time. He has consulted counsel
ca has been informed that if any one walks
the floor it need not be he