Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1913-11-28
NAME RECEIVER
FOR S25,OOO,OOO
REALTY COMPANY
Bankruptcy Petition Filed
Against New York Real
Estate S. '.ity Co.

NEW YORK, Nov. 2s.--The New
York Real Estate Security Company,
with realty holdings in Manhattan
and the Bronx valued at about $25,-
000, 900, has been forced into bank
ruptcy by the Nethul Realty Com
pany on non-payment of loan.
James N. Rosenberg has been ap-
pointed receiver of the company.
Weschler & Kohn will act as his at
torneys. There are sixty-six i'm
proved properties owned by the con-
cern.
According to counsel the pro-
ceedings against the company were
instituted as a friendly action to pro-
tect the bondholders The concern
, is capitalized at $3,950,000
THE company owns a great num-
ber of valuable parcels of improved
properties in New York City, which
are subject to mortgages" said the
FIRMS attorney Calls have been
made on account of the principal of
some of these mortgages. The COM
pany was unable to replace the mort
cages and was obliged to make re-
Many holders of mortgages have
threatened to foreclose, because Of
nom payment of taxes, and this pro-
ceeding was commenced by certain
creditors for the benefit of all credi-
tors.
The company owns the big twenty
story office building at AZ Broad
way, running through to New street,
as well as over half hundred ele-
vator apartment houses on the upper
west side and in the Bronx.
The company carried on Its opera
tions through the sale of per
cent. bonds, which were sold all over
the country.
The company was formed in Octo-
ber, 1908, with a capital of $3,95O,0O0.
Thomas b. Hidden is president; w.
E. G. Gaillard, vice-president; Le-
gare Walker. treasurer; Charles X.
Mccarthy, secretary The directorate
is made up of the officers and G. 10.
Bateson, C. f. LEM, o. B. Hill, III.
p. Rice and N. j. Mitchell.
The buildings of the company in
clude 36-42 Broadway, Pine street,
66-72 East Seventy-seventh street,
445-449 Riverside drive, 468 Riverside
drive, 22o Riverside drive. 4S7s4si
Fifth avenue, . East Forty-hrst
street, Fort Washington avenue,
northeast corner 162d street; Clare
mont avenue, 1870; 135th street,
506 west;l 136th street, 520A52e west;
Central Park west. SS5-3S6; 1b0th
street, 40g-410 west; Forty y-second
street, II east, easehold; Mount Nor
ris avenue. 35-3s; Central Park west.
447-44s. 11ith street, 507-509 west;
111th street, 521 west; 111th street,
136-142 west; Hath street, 600 west;
Broadway, 3441-3450 Claremont ave-
nue., 1870; Convent avenue, 40; st.
Nicholas avenue, 60-72; Seventh ave-
nue., 2022 POPS; 177th street, 504 west;
Audubon avenue, 220-234 and 240-254;
1920 street. 609-609 west; Amster-
dam avenue. 1921 1888; Broadway,
300; Claremont avenue, 1872; 1S5th
street, 209-213 vest 150th street. 1872
480 west: leased 42-44 New street;
Amsterdam avenue southwest corner
176th street, 120x100; Broadway, S099-
3103; Hath street, $50 west; River
side drive. so: Broadway, 3SS0-3S8S;
123d street, 449-453 west; 124th street,
62-64 west; 145th street. 155-161 west;
st. Nicholas avenue, 961, and Ninety
sixth street, 4-6 west.
The Bronx properties are 546 to $50
East 145th street, 27S-2s2 Brook ave-
nue., 1477 Washington avenue and
1O44-104S Forest avenue.
A few of the prices paid by the com
pany for the properties follow:
81 ,100.0 900 for the AZ Broadway build
ing, 100000 for 7 Pine street, $750,000
for the apartments at 445 to 448 River
side drive and $529000 for the struc-
ture at 46S Riverside drive.