New-York tribune., 1908-12-23
GETS BIG BRONX TRACT
SYNDICATE BUYS LAND.
Lord .4lOerstone Sells 107 Acres OF
"UOrId's Fair Site.

...- ne 107 acres in The Bronx. forming
mart c,< about eight hundred acres Wnich "eie
4ousht by the East Bay Land Company ABOUT
ISaa as q suitable site for the Norios 4 an'
which Chicago captured. was sold yesterday tc 3
xsioe,e The selling company has been re-
<er~ed 70 frequently in real estate circles as
Lord Atverstone's company, as he is Its princlpaI
-.ool,bol5er The president OF the company is
Charles H. Patrick
The syndicate that takes over the property IN
cl,,zes ex-Arayor Hugh ]. Grant. c Il O. BIZ
nngs and Anthony n. Brady. The land Is Valueo
a. about s.. .20oO00 1t has frontage OF more
than four thousand feet OF the East River al
Hunts Point.
For some months this section OF The Bronx
has been attracting wide attention in real es-
.s+e circles. owing 10 the large demand for
properties there for dwellings and factorles'
and because Of many projects which have been
carried our OF sre being planned for the I'M
movement OF sites there. At the northerly eno
OF Hunts Point section many blocks Of apart
rrent and dwelling houses have been built
The American Baninote Company purchased
-ecentlv several blocks Of land there as site
FOR 2 building 10 bring together under one roof
su its printine establishments now scattered
throughout the greater city, and for groups Oh
dwellings to be occupied by Its employees
The value OF the district factory centre
experts until few years ago. II especially ap
reels Il IS said. to large manufacturing con-
Germs desirous Of getting larger homes on land
within the CITY because Of the docking facilities
or the East River at Hunts Point and the
freight terminal facilities. The frontage Of the
tract sold yesterday by Lord Alverstone's COM
pany will be improved with piers.
From what could be learned last night. Lord
Alverstcnes company gets handsome proI'
on its investment There were two factors II
v-ss said. which induced the purchase Of the
land in 1890 At that time q was thought that
New York would be able TO get the Worlds
Fair Various organizations Of other cities
which were striving TO get the fair asserted
that there were no suitable sites for it IN this
citr No time vas lost after that in bringing
under one ownership this tract of more than
eight hundred acres. and the East Bay Land
-omna ny became the owner.
That cornpanv realized that even if the move
1nent TO have the fair held here did not succeed
Indications pointed 70 the fact that the future
Of The Bronx would well repay any investment
there. Jacob Leitner appeared for the company
in the sale All the land fronting on the East
River is 10 be bulkheaded by the new owner
end the remainder is 10 be laid out 10 make tt
much more attractive to manufacturing inter-
ests. and thus expedite the changing OF the dis
trict into greater factory centre. The deal
zIsa viii result IL was said. in making Messrs
Billings & Brady large factors in the develop
i1ent Of The Bronx.
The East Bay Land Company sold some years
EGO PARTS of the original S0o-acre tract 10
Charles z. Gates & Co. the Rock Plaster Com
oany and the New York. New Haven Hart
ford Railroad Company ard some other con-
Germs Hunts Point avenue extends directly
through the centre If the tract sold yesterday,
and Il 157th street extended across the city in
q straight line Il would bisect the property.
Lord Alverstone is the Lord Chief Justice Of
Great Britain and has occupied that high office
since 1900 He has represented England IN
many important international affairs. He
shared with Sir Charles Russell the duty of
prosecuting the British case in the Behring Sea
arbitration. and he presided over the proceed
ings in the Alaskan boundary dispute