The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1915-06-14

RANKS OF I
IDLE RICH
Young Astor, Heir to Millions, Co.'s
to Work to Increase Estste;
Improving His Realty
Holdings
BY A. N. PLUMMER.

ADnlteu ITeSS Stall Correspondent.
New York, June 14-New York
richest young man is not a member 0
The Idle Rich club He has been out
lawed from that too thickly populatet
club. for he is worker. His name.
Vincent Astor land owner, developer
OF city blocks and general business
man
Throwing off the cloak Of consery
atism that so long dominated the Astol
policy, which for over a century has
controlled more real estate in Manhat
tan than any other individual. firm oi
corporation, young Astor is striking
out in startling fashion to turn his in
herited real estate into bigger diyi
dend paying propositions.
Buildings that are ancient are being
razed while vacant lots are being de
seloped in practical way. New struc
lures are springing up in sites occu
pied by old. ugly buildings and every
new move of the young real estate
owner spells improvement for the
greatest city in the western hemi-
sphere. M
The sudden change in the Astor real
estate policy is reflected in many parts
Of the city In this ever changing me-
tropolis new buildings. high buildings
and beautiful buildings rarely cause
much comment. They are almost
weekly events. But so startlingly new
has been the character of young As
tors work that the improvements he
has put into effect are everywhere
evident. And they have created a
sensation in real estate circles.
More than sS.000,000 has been set
aside for buildings alone in the past
six months. One is to be an apart
ment along the east side of Broadway
from Eighty1ninth to Ninetieth street,
70 cost $600,0O0. A public market al
Broadway and Ninety-fifth street, a
thickly populated residential district.
Us being erected at an enormous =.
pense
Any one Of these three gigantic
building operations would be big
enough for any builder to handle at
one time, but to New York's youn.
real estate wizard they represent only
4 part of a years work. For it is un.
derstood that as much more money is
to be spent, about s2,000,0O0 in new
construction work, so even if no more
contracts are let for this year he has
spent about s5.00e.0O0 in two years in
improving his home town And even
in New York s5.000.000 makes some
impression-especiall when expenu
ed wisely. as the Astor money has
been.
An evidence of Astors artistic taste
as well as his business ability, is seer
in the six-story apartment house he
erected in West Forty-fifth street. This
building, model snall- apartment
house, won the medal of the Architec
tual league which is given to the best
built and designed house in the city
each year. The building is the latest
thing in one, two. three or four roon
apartments, renting from s25 to $50
month. Modelled after the Georgian
type. II contains open courts and GOV
ers 120 foot front plot
Although Vincent Astor has STRUCK
off the conservative bonds that 81
long ruled the old Astor building oper
ations he has sacrificed nothing when
it comes to the workmanship in his
buildings. That explains in part why
be is spending so much money on his
operations. He will not tolerate infer
ior material or cheap workmanship
Everything must be of the highest
quality. He is building, not fer the
moment. but for time. None but arch
itects of the best reputation draw the
plans Only contractors who havs
proven their trustworthiness and hon
esty in construction are employed OF
the Astor properties. And the result
is something that should make boti
the young man behind the work ant
the city which is being beautified
proud.