The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-09-26
New Crop Of Oper-
ators with AID.
vanced Ideas and
Keen Trading
Ability Rise to
Wealth and Po-
SitiOn


persons who make up the real estate
interests OF this big city, these men.
leaders in the market. master business
men, students of economics and the
ways of a big city and idols OF thou
sands who followed their buying move
ments with a blind confidence akin to
faith. have slipped down from that high
pinnacle In the real estate market which
they held a few years ago to one OF no
prominence whatever. 1t would be no
surprise to find folks who could not
place. such men as Potter & Bro.
Boehm & Coen, Sam Green and Robert
f.. Bowling. There are others who con-
meet these men witt, real estate history.
which. like most business history and
the men who max. II. Is not long re-
membered.
When the operators who less than a
decade ago dazed the country several
times "A week by the daringness Of their
operations and the money which they
put into real estate from which the
most skilled farmer in America could not
produce Il hundred dollars worth of
crops in years. stopped operating they
began To slip down the path over which
they had travelled until they are no
longer part of the great real estate OPP
Grating force which brings wealth to
themselves and to others. When they
stopped buying the feeling ran through
the market that danger was ahead or
they would not have discontinued utiliE-
ing that ability to foresee gold mines In
real estate.
These old time operators had gained
wealth by being active buyers. and their
activity had been the means OF bringing
wealth to others because they had shown
that more money could he mad in real
estate than in any other form OF in
vestment. Their money making cam
pa 'gns had so enthused the public that
New Workers were real estate crazy.
Under such conditions there SCI. med no
limit to real estate values. Values had
reached about their highest point when
the panic Of 1907 swept over the coun-
try like a tidal wave, shaking to the
foundations practically all business in
situations. Unexpected financial diff
culties forced much property on the
market. and with no takers the high
values created In every. section OF the
town by professional operators. pre-
mier real estate men, settled and set
tied like the outfiowing tide until prices
had reached a level which marked the
beginn'ng Of the operations OF the for
mer coteric Of operators. When values
got dow 50 far that little money was
needed to purchase property then buy
Ing began again.
In other words a new set OF operators
started TO bring the market back and
they are doing 1t. Many Of them had
hut a few hundred dollars. and by the
accumulation of small profits have
gained big fortunes since the old oper-
ators for one reason or another stopped
buying and thereby lost their hold on
the public mind. Among these men were
II. II. Jackson. Frederick Brown. Sol
Bloom. Ennis & Sinnott. William Lust
Earten. Joseph +, A. O'Donneil. Robert
Bcnenson and Paul McGoirick. with
them were Bling & Bling. Klein & Jack
son. Leslie II. Palmer. Franklin Petit
and others. several OF whom started
Just before the panic. But they were
the kind that did not stop, This new
set Of operators, and for that matter
most of t'e former operators, had little
capital when they started operating,
Rut small profits nave amounted to
good sized fortunes with many OF them.
Though many OF the operators of to-
day started with little, there are sew
ctal who had much capital behind them
when they began to operate. Chiefly
Ttdi tSlt idWNtIr' tlNs h'' bniheb 81
insight INTO the game. Close assocla-
ton with former knights of the market,
they had gained an intimate knowledge
Of land values, and with confidence In
New York they turned their savings
from their law business into the mar
ket. There were 80 many bargains that
they could afford to pick the best. which
they did. and within a comparatively
faw years Klein & Jackson. bling &
Ring, Franklin Petit, Leslie r.. Palmer
and a few others have made more money
than many former operators piled up in
q dozen years or perhaps their entire
careers.
tThese present day market leaders AVE
eQualled. yes. surpassed many Of the
doings and successes OF the real estate
captains Of before the 1907 panic. Con-
fdence In the future Of the city. a be-
lief which has led them to think that
New York IL too great a city to he held
back long, they have launched buying
campaigns which would AVE given some
of the old timers a chill OF apprehension:
They have revolutionizcd the financial
end OF real estate and have turned the
business of real estate upside down.
Operators have nade profits In the
last few years equal In amount to the
hes, successes in the real estate mar
ket OF the last twenty years. Strange
II seems that the captains Of real estate
fIt' WIN llDss DlS one tNctpllOn, tIlhDlt
men. far different from the accepted
pictures conjured In the minds Of the
many thousands who have read IN the
real estate columns OF THE Sun OF their
doings. In Il measure this lack Of
~brusgueness, appropriated by many sue
cessful business men. has been an aid
10 the real estate operator, who must
depend on brokers for opportunities
and often for ideas.
To estimate the fortunes made by ope-
rators since the dark days Of 1907 IL a
task too d'C"u, and uncertain OF sue
cess. ENen'n the operators mentioned
above were willing they probably could
not come within thousands OF dollars OF
the money their operations nave Melted
them without consulting books. II we
accept the m of brokers Bing 4
Bhg, Klein & jackson and Leslie X.
Palmer have cleaned up millions. Mr..
Palmer said last week with a smile when
asked about his operations that he felt
satisfied since he had been able to nav
his bills.
Leo NJ. Bing and brothers form n COM
blnation which has turned many dollars
70 account since they started operating a
dozen years ago. They were lawyers.
real estate practitioners, Their knowl-
edge OF real estate brought them many
clients, then friends and ilnally coopera-
tors Several clients rewarded The Bling
mothers for invaluable advice by count
INK them In on operations. \ number
or such rewards gave them enough CAPT
tl to operate for themselves. Washing
ron Heights held "A favorable Mace In