El Paso herald. (El Paso, Tex.) 1901-1931, 1912-10-12
MORTGAGEL0T
FOR TWENTY
MILLIONS
Is the Largest Ever Placed
on a Single Piece Of Prop
erty.
BREAD AND BUTTER,
WITH MEALSNEXTRA

New York, n. Y, Oct. 1.-THE larg-
! est mortgage ever placed on a single
/ piece of property will be recorded
/ here. it is reported, as soon as the de-
/ tails can be arranged. The amount OF
the mortgage is now given as $1s,50O'-
/ 600. though it may reach the s20,00O,-
600 mark, an amount equal to 10000
mortgages Of the average size OF
/ $1,000 each. This huge sum IS TO be
! lent on the ground and yet to be erect
ed building Of an insurance company
in the Wall street district which was
burned out last winter.
The site, a square block in the ter
ritory containing the highest priced
land in the world, was sold recently
for the tidy sum Of S35,5OO,OOO- Inc
cost of the new building as now estl-
mated viii be about $1A500, 600, and
il is believed that the total cost OF
the Development may reach the $780,
O0O 900 mark
The annual interest on this mort
gage will be sufficient to construct a
good sized town OF to build 20 miles
of first class railroad. since, Inquired
at the rate Of per cent 1t VIII
amount to about $1,OOO,O0O a year. The
mortgage, 1t is understood, VIII take
the form for working purposes OF z
be furnished at various stages during
the construction of the new sky
scraper which is TO be put up ana
which viii be the largest office build
ing in the world. While there IS no
chance that a mortgage of such size
would ever be fOreclOsed, there IS con-
siderable curious speculation here as
to what could be done IN the way OF
selling such q property should sucn a
proceeding become necessary. Because
Of its value as an investment, now
ever, it is agreed that the worlds Dig
gest mortgage can never result IN the
worlds biggest foreclosure suit
Extra Charge for Bread and Butter,
The most startling innovation which
has appeared in New York hotels and
restaurants in the memory of the pres
ent generation and one which IS caus-
ing more bitter comment than the de-
cisiOn of the city's great caravansar1es
some years ago to serve only VINE
during the celebration which has come
to mark New 7 ears eve as the great
est orgy of the year, is the announced
determination Of hotel prOprietors TO
make a special charge Of 10 cents to
each person for bread and butter
served at meals
New Workers have long been used 20
having these articles served without
extra charge and have considered that
they were more than covered by the
eZorbitant prices Of other dishes which
As a result Of the imposition OF this
charge, which is expected to add ST.
OOO 600 a year to the hotel keepers in
comes, they are up IN arms In some
quarters there is even talk OF bread
riots, and while it is not probable that
anything Of this sort will result 1t is
certain that the general public strong
" resents this attempt on the part OF
the hotels to pick up large sum OF
very easy money. In answer to the
prOprietors arguments that 1t is
regular practice in European hotels
to, make such q charge, offended and
protesting patrons point out that the
regular dishes which go to make up
the meal bring far higher prices here
than they do abroad
With q pot Of coffee containing per-
haps cents worth Of the beverage
being charged at 80 cents or more and
many other things in proportion, the
addition Of the bread charge IS con-
sidered by many as indefensible. OPP
timists, on the other hand, point out
that wafer, pepper. salt and sugar are
still not charged for directly. and urge
the kickers to be silent lest a direct
tax be levied on these articles as we'll
The new policy OF the hotels, however,
seems likely to result in a marked de-
crease in the consumption Of bread and
rolls.
Nay DispIaee German Sugar.
That the United States has the OPP
DOrtuulty to O1SDlace Germany as the
greatest beet sugar producing country
Of the world was the opinion given by
Dr.. Alexander Herzfeld, director Of the
German sugar institute in Berlin,
who returned home this week from an
American tour Of investigation. Prof.
Herzfeld's reasons for this conclusion,
as explained to his friends among the
chemical experts here, are that the
United States has the greatest range
Of soil and climate adapted to sugar
production Of any nation and that the
possibilities Of the industry and its
benefits in increasing the yield OF
other crops grown in rotation with
sugar -beets have now been so thor
oughly demonstrated that only IN
favorable legislation by congress can
stay the rapid and prosperous devel-
Opment Of sugar production to a point
where America viii grow all the sugar
needed by its own people and possibly
an export supply in addition.
In Germany, on the other hand, the
professor sees in the growing ascend
ancy Of sociaIistic forces and the de-
mand for a withdrawal Of the encOur-
agement which the government has
extended systematically to the Ger
man sugar industry in the past a
threat to the further progress of sugar
production in the kaiser's domain. 1t
is so rare that Americans have a chance
to score over Germany in the indus
trial race between the two countries
that DR.. Herzfeld's remarks have at