New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-12-04
HOPPER DEVISES
NEW SERVICE
For a Small Fee He Will
Send Reminder" About
Chattel Mortgages.
FAILURE TO RENEW
HAS PROVED COSTLY
Holder Of $4,000 Loan Paid
Dearly for His Forgetful.
ness Recently.

Forgettulness and ignorance Of the
law on the part Of many holders Of
chattel mortgages has proved so costly
and troublesome to such persons that
Register Hopper has devised q memory
notice.
Absurd" exclaimed yesterday q IA
miliar character in the City Hall Park,
who for years has been chronic Office
seeker How could anybody attached
20 any paper leading TO real money for
get about It, even for the fraction Of a
second7"
Nevertheless, II is all too true. Some
recent cases have been called to the
attention Of Register Hopper where per-
sons, through lack Of knowledge or be-
cause Of faulty memory, failed to file
renewal notices for chattel mortgages
and consequently lost their priority OF
lien.
Failure 20 file renewal statement on
the expiration of the year from the
date of the original date of the original
filing of chattel mortgage renders 1t
invalid as notice 10 innocent purchasers.
In one case the mortgage exceeded
$4,000, and when the holder Of the mort
gage came 70 foreclose he found that
more than a year had elapsed since he
fled his mortgage. Meantime another
mortgage had been given, which took
pracadanca over hiz p,ortpoCa
"The resulting loss would have been
saved II the person had filed renewal
statement of his mortgage, as required
by law" says Register Hopper. "The
law allows thirty days before the ex-
pirstion of the lien to file a renewal
statement, which keeps the lien good
for another year. A reminder notice will
hereafter be sent 70 the mortgage 80
days prior 70 the expiration Of the lien.
This service will be accorded TO any one
making application for it, and charge
Of 2j cents is made to cover the cost
Of the service. A charge Of 5 cents 10
also made for postage or q self-ad-
dressed stamped envelope may be sup
piled, If preferred.
This service has been established for
the convenience OF the public, and the
utmost care will be used in mailing the
notices. The Register, however, does
not assume responsibility for the ac-
curacy or delivery Of the notices.
One of the principal transactions
yesterday in the local realty market
was the purchase by the Phelps Stokes
estate of the dwelling at 40 East 25th
St, adjoining the southerly wing of the
Madison Square Hotel. Pease & ELL
man negotiated the deal. The hosiery
has large frontages on either side OF
the Manhattan Club, which Is at the
southeast corner Of 26th st. and Msdi-
son av. An addition TO the hotel will
be built on tho site.
This is the third time that the
Phelps Stokes estates Rave had TO en-
large the hotel.
Douglass Gilman & Co. have sold 156
East 62d st.. three story and basement
building, on lot 12.6x95.6, for Mrs.
Mary A. Dempsey TO DR.. Marshall c..
Pease.
. WEBSTER AV-The Schoen West
chester Realty Company and NJ. Rives
/ have sold for client the southwest
corner Of Webster av- and 1S4th St,
plot 97xl00 feet.
1SOTH ST.-Adolph Hollander has
purchased from Jacob Hansen the lot,
/ 25xl18 feet, on the south side OF l8Oth
St. So feet west OF Honeywell av. The
site will be Improved with two family
house, with store.
UNION AV.-C. Volzing & Son have
sold for the estate of william G. Ring
Ter 1887 Union av., northwest corner
Of l66th ST., four story fathouse, with
stores. on lot 2Sx9O.S feet.
FAST 163D ST.-Lowenfeld & Prayer
bought 81 East l63d St. four story
Apartment house, plot 9Sxs5 feet, and
the plot, 10Ox1O4 feet, at the southwest
corner of Sherman av. and 166th st.
The buyers give in exchange two hve
story fathouses, on plot 72.6xloO feet,
at $50 20 s63 Forest av.
WEST 124TH ST.--The Oscar Com
berg Company resold the six story
apartment house at 5S8 and $40 West
l24th ST., on plot SCHOOL, feet, to a
client OF the Schoen & Westchester
Realty Company and NJ. Rives.