The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-06

have TO find Il new one. for
since John q. Wendell died last
week the old one can be worked no
longer. There used to he a story told
in the newspaper world --perhaps it
was true and perhaps 1t was nut--that
the first assignment To every cub re-
porter was to interview the late j. i.
Morgan. Old newspaper men will tell
you that j. T.. Morgan would never per
init hims&. To be interviewed. and
therein lay the Joke on the cub re-
porter. SO In the real estate world IN.
wags would send the cub broker To buy
from Mr.. Wendell the northwest corner
of Fifth avenue and Thirty-ninth
street.
1t seems tina; This joke has been per-
pe<raIed on innocent enthusiasts. well.
as far back as many of the grizZled
old veterans OF many realty booms can
remember, and no doubt some young
ster who reads these lines Will learn for
the first time that only few days ago
he was the goat" Mr., Wendell is not
credited with having done much either
for the city OF for The real estate BUSH
ness, but he a. least made il possible
aOr many brokers' well known to- day
to enjoy good laugh at their own ex-
pense when they think OF how hard
fhey worked with the old man To get
him 10 sell THAI corner and Of the first
hg commiss on they lost when he
refused.
Probably there never was u man in
the real estate business in New York
OF whom more interesting anecdotes are
told This is rightly So because there
probably never was n man in the bust
Tess OF more unusual makeup or ideas.
itis property holdings in this city are
estimated to he worth $50 GOA. 900, and
yet he conducted them on a BASS that
would make the modern business man
shudder
Not only would he not sell his prop-
erty but rarely indeed would he spend
dollar to keep his buildings from
actually falling apart. and many sto-
Tles are tod of expensive properties
under mis- ownership that have pro-
duced no income in years because Mr.
Wendel would not meet changes
brought about by new conditions and
the establishment of new trade centres
1t cannot be said that he was grasn-
ing Tor almost any one of his holdings
could be made to pay double what il
pays to-day, and many of his choicest
properties pay almost no income at al
while they could be turned into bic
money makers with little trouble.
Twenty years ago Emil l.. Cuendet
a dealer in musical Instruments. OF.
fered Mr. Wendell $4,000 for the stor,
al 23 tn.on Square. Mr.. Wende
wanted $1,000, Although Union Sauar,
was In the height of prosperity at IN,
time the music man could not see how
inc place could be worth more than 50
900. Mr.. Wendell refused to lower hi,
rent. The store Is still in the marke.
for rent at $1,000
why did he act as ne did?" YOU vii
ask. why did he buy expensive prop
cry only to let it 60 to RUM" Tn
answer never will IDc known, for no
pody ever was on sufficiently clos
terms with Mr. Wendell, except mem
hers OF his family. 10 find out what hi
purpose was, He was the big myster,
of the r"al estate world. ana though h
knew that men criticised his stand an
mar many times there was talk of en-
aw!ng cg'slation to prevent the holdin
81 property as he held II, the talk nevc
worried Mr.. Wendell.
Disgruntled brokers. unable To pu
through big deals because Mr.. Wend,
stood in tho way, are said to have in
FORMED city departments of violation
70 Wendell properties, such as too To-