New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-11-01
new HOME BUILT
FOR MORGAN & co.
Impressive Lines of Build
ING Arrest Attention
Of PaSSerSby.
WHITE FRONT OF
TENNESSEE MARBLE
Premises Will Soon Be Ready
for Occupancy of the
Owners.

Tho new home of j. Z. Morgan & Co.,
20 the southeast corner OF wall ana
groad SIS. will soon be ready for occu-
psrcy. Bronze doors Of unusual height
and m.ssivcnesS are now being put M
place 40 the main entrance, and within
the structure from the cellar 20 the
roof. the interior workers are making
rapid progress.
This building. with it's white-faced
'front.' Of Tennessee marble and simple
lines denoting extraordinary structural
strength. is most impressiveiy set OF
bv the sombre color of many nearby
once structures. IL is now the style 20
acrc tho outward appearance Of mod
.rr Office or many other types of build
..cs o. bright CHEEKY hues. and this
.-.-cr. we'll emphasized by not only
tsc now home of !. +. Morgan & Co,
bg. b- thc towering Bankers Trust
Comuany Building, ~ the northwest
corner o. Wall and Nassau SITS; by the
record breaking Equitable Building, by
the new Adams Building, in lower
Broadway. and by the Woolworth
Building and many other notable addi-
lions Of la.c years TO the Manhattan
districts.
For q long time the Morgan site was
fine costhest parcel of real estate IN
this city. Il not in the United States.
furthermore. u also had the distinc-
non o. providing the costjest home IL
AIMS country for q banking house, the
Site beiug the heart OF the financial
centre Of the New World. Within re-
cont wears. however. the high record
Drice for realty in this country has
been paid for the site az the north
west corner Of Wall and Nassau SITS,
prouerty diagonally opposite the MOI
gen parcel The new record sum is an
amount so many hundreds more tnan
.fat relating 10 the Morgan parcel that
The cost OF the latter parcel seems to
6c insignificant compared with the new
premier price.
t.0r- y. DreNel bought the plot ~
NAN ST.. being the southeast corner CT
Rroad ST.. for $3.50. 600 Some knowing
ones .r the real estate fraternity az
that time shook their heads and SAID
that 10 was an excessive price, yet Tor
wears ma. record sale was generally
rseG 20 show the wonderful rise IN
reality values In this city since the
Civil War. The plot that DreXel goV
contained only ~ square feet, and NJ
Se-lOJ0 the purchase price square
9a- was SS4S 81. For the Gillender
8yrdi,r site. on the opposite, north
-.,st corner. a parcel Of 1,S4S square
.eet. S1I5OOOO, or 1922 29 a square
loot was paid on DecC nber 81, lSOS.
TIE best previous record prior 10 One
500 % mark was S55S 80 a square 100.
10Y the famous Silliman property at
Tho southeast corner Of Wall st. ana
R,,.f,~-v The S55S mark stood for
tive wears. having been made IN lSOo'
.rl. -.u5nau plot is also known as NO.
.Vsu 81 and also as the CHIMNEY
co..-a, nroDertv in the financial sec
.io. owing TO the fact that the build
.rr ON the site is very tail IN proper
-ior to ms base. As the site IS some
,gIat irregular. some real estate ShafPs
nav. Occurred that 10 contains less square
feet tbsn other members of the broker
800 and building fraternity, ana cOnsO-
o-er4ly there are quite few persons
,,bo ciair that the highest sum ever
mad for real estate in this country was
the amount at which this properly
Uassed 10 the ownership OF Ine 10.
wall Street Corporation. lhefeIoIe'
they place the square 1901 prlSe eeoS
property at much nlgheL s $1,000 ,i -
,rerk now generally acknoWieuseu ~
he The topnotch price for real estate Ill
America. :.a. Cor real
- -
r,onertv the Morgan site is now thIrd.
M little property al the northwest
corner of saith st. and broadway -
fonrth. 1924 50 "a square loot having
been paid for it in 1901. -, g..
Otber high record sums paid i0'
Manhattan realty are as 1ollo"s'
10 Wall ST.. .O0oi- square feet. ..... $3.50 90
u, Ne,y 81 northeast corner Exchange -- ..
p 500 souare feet. -...... .-.--.'-.- 80 49,, - -
it and is Broad st.. old New York
stock Exchange. including building ooo g.,
III I-I a sgT f.ros5 81 and 81 ana 63 Ex-
Olance rl .3GOi- square ieet. "a -OO %
~ and "A broadway and and 10 .,oco
New ST. 223 square feet. =. .'''''' Do -
M Broadway. 10. $40 square Ieel.-...; -" -
.' 2os st '' 9s'.% i feet. g: g: g q
ana II Nassaa ~, g. soq,a {.e; corner 900 50
ana Is Nassau IS, S., .9eSaT fysi .o.' 245 ca
Na.la IL nortasas. corner OF '-'g,H 30 s5
10 AID % Nassau st. norSa isi .o'u, 80 o.
.l Pine ST.. Naa square I,,t. - 9-fb
$40 Fi.th a.. southwest corner Oh '''" ooe ~
ST.. e. - square Feet. ...'' '''.'''''
short time before plans were per
fected for the Improvement OF the Nor
gan site the original banking mouse
property was enlarged by the purch"sS
Of the property of the Mechanics ana 9r,i
Metals National Bank, at 20 to 80 Nul
81. On the combined parcels mas DeeH
put I'D the new home of the banKlhg
house of J. p Morgan & Co., the Ouliu-
ing having a frontage of little more
than 1856 feet in Wall ST. and 81 feet IN
Broad ST. The easterly line OF 'hS
property is 1863 feet. Trowbudge
Livingston, the architects, estimated
the cost Of the building 10 be Sl'ZOo'-
600.
To meet the requirements OF the
owners that there should be no pillars
in the banking room, the srehltects
adopted the plan Of having steel up
rights in the outer wall carry great
steel trusses at the roof level, Ia leet
high and about 100 feet long. FROM
these trusses steel girders were sus-
pended to give support to the upper
hoors. The foundation Of the building
was made Of sufficient strength 10 pear
structure of forty stories.
The building is Of four stories, al
though one would think that il was not
over two stories, looking AZ il from the
wall ST. side
Spacious sleeping rooms for mem
oers OF the firm, a barber shop ana
o'ning room on the upper floors are
among the main features OF the bulld-
seg' 4hs first floor is 80 feet hlgn'