The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-03-13
THIS WOMAN RICH ON PAPER
or REAL ESTATE
HELD ~ HER NAME.
mt me hides On . Trolley Car Tine 0Sher
stenagraphnrs ana OWNS Prepeeay
Olly Ten Secaads % q TamS--Weanen
80 Dummlrs On Real Estate Deals.

StenaWraphsrs and Owua Property
Ouly Tea secsaas % . rlmS-WemeR
90 DUMMIES IN Real Estate Deals.
That girl" said a real estate broker.
nodding toward a young woman further
down in tho car. -hAs moro propsrey m
her name than any other person IN Brook
Ign. The realty record books carry her
a. the poassusor of many. many millions.
some % the biggest parcels In Brooklyn
are held In her name.
'SurpriHed that she rides In s-'orulDsv
car instead Of IN her own automobor"
Well. this property has all been aoAA. N
fact she has rarely owned any pisnU - -
more than ten seconds-iuNe while aha was
receiving a deed in one hand and giving
decd with the other.
she II the chief .tenoSFapher IN the
once OF big title insurance oompany
A buys a piece 1T real estate from D. but
does not want the public to know % his
ownership. n makes a deed to our
stsnographer friend. She makes . decd
for the same property with the name OF
the buyer left out. gives her the decd
b has made and she gives him the deed
In blank.
The deed to the girl goes On record.
/
Of title insurance. and she IN. publicly.
the owner OF the property. But A hns her
deed. legally executed. and the insurance
policy. when he gets ready to eel.
maybe years hence. he merely puts IN
the name Of the buyer and has ths dsed
recorded. has never appeared a. the
owner.
The city Is satisfied 80 long a. tha
i A. .s.A ru1aA aoI fhsa
property and does not Interest," itssif in
the Ownership. 10 A wants 20 give =
mortgage On the property he csn do that
through another woman dummy wtthout
his name ever appearing.
| why do they have a woman 10 do the
trick9 4 woman can convey realty
without any ones consent. whsthsr she
In married or single. hut there 10 oven
leua room for complications wheo thu
woman n single. man must have has
wife's concurrence. ~ single man
Gave such a deed he might ggt married
and there would he the Possibility that
| his wife might try To ggt her dover
interest. Our stenographer frtend's hue
hand. IL abe ever marries. can claim no
such interest IN her estate. -'.--.s
Danger that she might give another
deed and beat ont Of his property
Not a bit. such n trick would land her
IN Sing Sing and the deed abe gnve would
he WORTHLESS. II would have 20 be dated
the day baS va; q. AS Sso SaS AZ ,r ss
A mas to keep his deed IN a safe place, Tor
n u were lost or destroyed he might
have trouble in getting another. but ne
would not Be likely TO lose hts propersy
Thousands 81 real estate owners take the
-Whv do people want 20 hide tAeir
real estate holdings suppose a buzz
n after all the property N btock- Ne
gets one piece. u the dec e reccraso
owners In the block that he would b
likely 60 want their holdings TOO. ThsD
prices would soar and he'd have % pav
dearly for the Rest at the block. SoEne-
brokers and female dummies are ussd
60 ret q single parcel togethsr-
Then there are NOT q frg Ensn Who
want 20 be in position 20 sell their real
estate withc1t asking thetE Eives, oon-
the wife IL eliminated. for the husband
never owns the properly. though he holds
the deed and controls IL, Some wives
never know that their husha nds buy and
Not fair 20 the wife7 Well. 7 don't
know about that. Recently client Of
mine had a chance 60 make a quick eaie
| az a big profit. His wife vas IN Europe
and he missed the sale because be could
who had had a little spat with his wife
was compeIled tn give her 81 90 worth Of
diamonds to induce her TO sign a decd.
-Businesr men often have TO make sales
quickly or lose big profits. They cannot
AFFORD to take chances with the shssls
Of a wife who no matter how lovable
NAV he out 81 sorts or a bit obstinate
on the day the transfer n to be made
| have known wives 20 demand elaborate
details Of sale and then take vesA
10 think IL over
ANY other uses for the woman dummy
Sure. Wall Street ~ not the only place
where wash sales are made Suppose
realty - moving slowly and sales are feW
in a section like that about the res
pennsylvania Terminal or along the nos
subway IN Brooklyn, where there ought
20 be activity. Nothing brings IN n@~
@Suppose half dozen hrokers each wfsh
property TO sell IN the same section, ger
together and decide tn make things hum.
They go 90 their principals and arrMne@.
say. fifty big transfers 10 take plao-
within a single month. ~ means %
| women dummies these sales are all made,
duly recorded and published -t'...
when the transaction h closed not
cent has changed hands ana not psscr
Of property has heen out Of tho puSsesstOr
OF its original owner. but tho public
has heard Of brisk selling in that par
ticJlar section and begins TO flock IN.
Then prices 20 mp Frauds Call q what
you ptsseasfs " Y
do ! think 70 right that woman should
have dover rights in her husbands real
estate and he have none IN hersp Maybe
am not a fair judge. I have known
men to put bomesteads IN thsiT Ttse='
names 80 there should always be q honas
for the family beyond the reach Of busi-
ness vicissitudes and ] have known some
Of those wives 20 mortgage those hcune-
stsads Tn get money for purposes entirsfY
outside tho family relation
The husbands NAV protest till they
are black in the face hut they are help
le~u under the Law. I think u would be-
fairer IL wives were allowed 70 do a.
they please with their own and husban1e
hal the same right
But the female dummy In not the only
device by which married men get around
domestic complications Sofnetimcs. very
| often in fact. a prospective real estate
1 owner who wants no hindrance tn quick
| sales organizes a corporation with. say.
$500 capital stock and owns al the etock.
\ He has himself elected president ant