davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1919-04-27
Bill Aimed at "Land Sharks''
May Stop Home Building
7ar .Mstalment Bill

Following the Of the Donohue bill
sament BILL which sigma
The penal law
hundred
hundred and thirteen, respectively, o as
"ll Custody Of
Any
receives keeps wold
session. in
IN ment otherwise
of andw
subddd into lots holds property and
any all OF
by foreclosure BY title
pursuant to promise o agr
1872 Mappropriation in
The failure
Any
by b.
those
presumpt1ve knowledge
1913 Any misappropations
sales Any
o
hundred
trustee who directly indirectly
sell or by such haee
Of mis-
hrsr
New-York tribune., 1919-04-27
Hirsch Defends Bill
As Worthy Measure
Been Framed for the Protection of Investors
and That Honest Dealers Need Not Fear 1t

Nathan Hirsch, chairman OF The
Mayors Committee on Taxation anC
the Investigation Of Mortgage Loans
is sponsor for The Donohue bill, o,
rather his committee is back of the
legislation. He says it is a good meas
ure and will work good for the reaI
estate man as we'll as the lot investor
for whose protection it was framed
The measure. which has passed both
houses Of the state Legislature and is
now awaiting Governor Smiths sigma
ture, he says. is going to drive the dis
honest suburban real estate trader out
of the market.
"Under the Donohue bill it will be
criminal for land company not to
complete the contract which it entered
into. 1t Will be felony to violate a
civil contract and punishable by term
in prison Of from ten to fifteen years.
The measure reaches out to the sales
man. lie is just as liable for the acts
of his company as his company is for
his acts. In other words, when a sales
man makes contract with lot buyer
on an instalment plan and the con-
tract is not fulfilled by the company
the salesman is guilty and will 90 to
Jail"
Mr.. Hirsch said civil procedure for
merly brought no fear to the land pro-
moter who had no scruples and was
bent on dishonesty The Donohue
measure makes him the bailee of the
funds which he receives from the man
who is buying lot. He is the guar
dian of the other mans money
The measure is primarily for the
protection of those who cannot help
themselves. either through ignorance OF
New-York tribune., 1919-04-27
Most Important
Tax urc
I'm a Generation
William E. Harmon Says 1t
Will Stabilize Levies and
Scatter Realty Discour.
agement

The Boylan measure lim;tino toxo,
on real estate to pa per cent Of the
assessed value | consider TO be the
most important measure for the nro-
'ectlon OF the taxpayer and rent payer
1hat mas come into existence in gem
eration." William f. Harmon. cha;r-
man Of the Taxpayers and Tenants
Protective League, said yesterday.
1T does not give all the relief to
winch real estate is entitled, but if is
enough TO show the world that real
estate Is no longer to be exploited by
ehe city and state No other cause has
oeen as potent in forcing up rents as
the ever increasing taxes, discourapjnp
construction and driving capital into
other fields of investment.
tnat the present crisis can be over
come except by stimulating building.
ana this viii never come about unless
re"ts 20 up or taxes go down. The
hoylan bill accomplishes two nn,noses
~ reduces our present tax rate abou.
10 points; but. far more more ;mnor-
tant, 1T stabilizes taxes bv ncoo;nc
e"em at IA per cent. This let's every
one interested in building know lust
"nere ne stands so far as taxes are
concerned, and he can estimate his
s'g saiiihg price or his proposed rents with
accuracy. he does not have to resort
10 Jacking up his prices to meet hjs
ever-changing tax burden. This bur.
uen is passed on to the consumer. AL
'"vugh ne may not know it.
Every taxpayer and, what is even Of
Greater Importance, every rcntpayer in
New York who has any clear Under.
standing Of the laws Of economies. sun.
Piy, and demand. should make himself
ieit at the hearing by Mayor Hylan
ny City Hall on Tuesday at 1890 IN.
either by letter or his personal appear
ance. The corporations and Wall Street
are against this bill because it Cxes
me amount New York can raise from
.ne taxpayer and the tenant, and the
mayor IL entitled to know how tho
PLAIN people feel on the subject n
tnoss who arc suffering from bieh
taxes or high rents do not take this
occasion 10 break the yoke that il
about their o~n own nccks they will
probably never have another chance"
New-York tribune., 1919-04-27
proposed Structure for Old Racquet Club Property
Real Estate Firm Plans Ten
Story East 10Th St. Home

The real estate firm of Dourlas I,
Hillmah d 90. IS to have new home
at 10 and II East Forty ninth Street
1t VIII be story building. This
announcement was made yesterday
with the purchase of the property. 1t
w'il mark the third chapter in the
history of this well-known organiza-
ton since its inception in October
1911.
The first location was at 42l Madi-
son Avenue, comprising a store and
basement Before three years had
elapsed the firm interested David Dows
IN the purchase of Ala Madison Ave-
nue., almost directly opposite its for
mer location, on which Mr.. Dows
erected for them from plans prepared
by Cross e. Cross six-story BUILDING.
Two floors of which were arranged for
their business, the four ~emoininp
floors being devoted to apartments.
The continued growth of the firm
IN this location has been so rapid as
TO compel the consideration Of new
quarters, with the result that thev
nu's now purchased the plot on Forty.
ninth Street, between Fifth and Madi-
son avenues, measuring 33.4xlOO. upon
which they propose erecting an office
building providing tn NECESSARY adj
aitional area for the conduct OF their
business, as we'll as adequate space for
future expansion.
albe building, for which plans have
been prepared by Cross e. Cross. archi-
,ects, Will be so designed as to com
blnc q dignified artistic exterior with
me maximum Of light and area for
office PURPOSES. The present plans
New-York tribune., 1919-04-27

! business. This law o,scr,.
against the poor man. who Is shs'ns'es shn
ao'hg business on time payments 0oe
Some OF the possibilities under ~,
n'It az expressed by the real es,s.s ,a.s
case was cited, for instance Of hnnas me
niah'hg contract Tor $1,000 worth "
property Perhaps $500 or Sam s' q q
pa'o IN when through tho misfortra'
or an owner being unable to rcn,.as ,i.as
ms mortgage the property is f,"ss f"ss
c!oseo. mat owner. according TO III,
oiii' Is guilty OF misdemeanor oras a'e
'hough he mas retained as tms..a
every cent OF the money paid in Wv ~
MN. III was pointed out also that a, ~
times nstalment purchasers do r", -"
pay 'helr lnstalments promptly. Soms
tunes they are so lar behind tbs.
an owner cannot meet payments on HE
mortgages. He then becomes j;sms
Tor a jail sentence through the ac,;ns
OF the very people he is supposed sI'v,' VI
protect N's" ~
At present there is practically no il.
buying on the instalment nlor ~. "
Greater New York. but there ;s ov.oa ~
sive business done on that hss;s s'';., ~
the selling of homes. and it was A. :"
clared by all the members of tbs os W
change present. at the meeting thai ~.
home builder would be the nrns;naS ,ms
one to suffer if the bill becomes a~
+. II. Reeve declared that the measn,o
would defeat every effort that has hsan
made to help the poor man to obtsin
his, own home. He said that instsi
meht lot buying had compelled bun.
dreds of thousands OF people to savs
who never would have done so otbsr.
wise and that the great building and
loan system is based on the instalmen,
plan.
Will Turn Away Capital
j. ". Doolittle, president of the ey.
change, said that in his opinion the
measure would put an absolute stop
to insta lment lot selling and that cap
ltal could not be induced to buy acre.
age and develop it with the fear over
hanging cf being charged with crime
because OF possible misfortune. "Ther
have been times in the last five years"
Mr.. Doolittle continued, "when some Of
the strongest real estate companies
have been on the verge of going Out
of business though there was no doub,
as 10 Jhef honesty. lhey could moi
control conditions. If this measure
had been in operation and they had
failed they would have been guilty Of
crime"
While opposing the bill as it stands,
the Real Estate Exchange Of Long
Island put itself on record in favor
of bill that will prevent fraud in the
sale of real estate and still not destroy
business.
New-York tribune., 1919-04-27
lax Legislation Gives Only
Part of Relief Demanded

/ only to New York City. instead of to
the entire state. and so will have to
be approved by Mayor Hylan. Instead
OF per cent limit the bill fixes a
limit of 2.25 per cent, and instead of
applying in 1920 it is made to apply
not until 1922, after Mayor Hyian's
present term will have expired
Boylan Bill "A Joke
this bill was not deliberate
bit Of legislative humor, but was SER
iously intended it will puzzle its par.
ent TO show how it is to be of any re-
lief to real estate from the burden
OF municipal cXtravagancc.
AS TO the income tax bill. the core"
OF the JOINT committees programme.
as originally framed it exempted from
the personal income tax the income
derived from interest on mortgages.
In the course Of its FREQUENT changes
that feature Of the bill disappeared
and reappeared, and was part Of Che
pill when 1t disappeared from public
view INTO the last mysterious Com
terence When it came out this i'm
portant feature had been emascuated.
income Tax Unsatisfactory
Without 1T important organizations,
representing the most extensive real
property interests, declared they would
NY" i"ttci VIC peISOlIal income taT
bill should fail than that it should
go through in it's final form But By
this time it was too late The lcgis-
latve mill was only waiting for This
last grist. The chief concern Of the
statesmen, provision for additional and
sufficient revenue. had been met and
they were ready to adjourn.
AS result Of this inadequately con-
sidered series Of. bills real property
will be saved from the imposition of a
much higher tax levy next year and
continuously thereafter, which would
have resulted from the loss of the
revenue hitherto realized from the
liquor tax, by operation Of the personal
income tax and by the increase in the
corporation income tax.
Senator Davenport declares as to re-
trcnchment that he hopes to obtain
definite and satisfactory results from
the investigation he and his Joint
committee intend to make between
now and the meeting Of thc next
Legislature the whole subject in
both city and state expenditures. Au-
thority to pursue this investigation is
one of the by-products the Senator
saved from the operation Of the old
legislative mill.
New-York tribune., 1919-04-27
Limits Rate ON Real Estate and
Creates Income Tax, but
Makes No Provision Against
Municipal Extravaganza

beyond four months, and there is very
little in the business of the state tc
call for longer session besides tax
legislation.
1t is absurd. Of course, to assume
thnt four months session is sufficient
for fundamental or reformatory con-
sideration Of so important subject as
taxation.
Retrenchments Not Reached
"TaXation and Rctrenchments" is
the title given to the committees Of
both Senate and Assembly, but there
is seldom If ever time for considcra-
ton Of anything but taxation in the
brief duration Of a session. Rctrench-
ment has never yet had more than per-
functory attention. 1t would seem to
be desirable that retrcnchment should
be made the function Of an entirely
separate committee.
Leaders in the legislative bodies fore
saw the difficulties that confronted
them before the Legislature was organ
wed, so 1t was not long after the COM
mittees were appointed before the tax
committees got together in joint COM
mlttee under the joint cha1rmanship of
senator Davenport and Hssemoiyman
Judson, both upstate lawmakers. To
Cnls committee were sent all the tax
PMS. those of the Real Estate Board
included: Upon them devoSved the re-
ssponsibility of considering and sitting
these bills and out of them evolving
the measures that should meet the
more pressing requirements of the
state at least, even if "rctrenchmcnt,
was set aside for later treatment.
1T vas March % before this Joint
comnMtee reported, and the bills thew
reported were satisfactory only in the
provision of a personal income tax
ana the increase of the corporation in
come tax from 20 4 u per cent. There
was no restriction whatever upoo
municipa extravaganza. Thereupon be
gan vigorous effort among the real
property interests to secure lcgis
iatlve limit on the rate that could
be LEVIED on real property.
Limiting Tax Last Resort
blll embodving limitation to two
thrds Of Che total levy, which was
III no year to exceed 9 per cent of the
assessed valuation of real property
IN the city, which was made to take
New-York tribune., 1919-04-27
By Clarence H. Kelsey,

President. Title Guarantee and Trust
Company
The proposed bill limiting the Ia. rate
on real estate in the year 1922 and
thereafter to 2.2o is a good thing as
far as it goes. 1t is a trifling relief for
real estate. however. compared with what
1t ought to have. 1t has some bearing
on the agitation regarding so-called rent
profiteerng AS matter of fact, how
ever. all sorts OF remedies for high rents
are being proposed, excepting the right
ones. The real situation should be un-
derstood and it will be plain that abuse
OF the landlord does no good He has
for years carried his property with the
taxes increasing, the rates of interest
increasing. everything that he has to
huy to maintain tho property and wages
TO run the property increasing tire
mendously, and until now, when the de
mand for space has greatly increased,
ne has had no chance to recoup for these
heavy cutlays. Even now. with the in
creased rents prevailing. in nine cases
out OF ten he is not getting the net
return from his property which he did
SIX or seven years ago. Unless some
thing is done to cut down his expendi-
lures, he has got to raise rents still
more. or mark down His values. His
taxes are one item that should be
greatly reduced. This cannot be done
with the steadily mounting expenditures
of the city, unless other sources of reve
nue. are secured. The Legislature has
enacted an income tax law to produce
the revenue which will be lacking be-
cause Of the loss of the liquor taxes, but
this will not relieve real estate except
from the burden of making W the
deficiency.
Big Burden Will Continue
Far too great a share Of the tax bur
den Will continue to rest on the real
estate owner until the income tax or.
some other tax produces enough so
mat the real estate owners taxes can
ne reduced. An effort was made to
induce the Legislature to recognize the
great injustice of the pre- sent situation
and provide that the real. estate owner
snouid bear only two-thirds or the
ourden and someone else should hear
ine other third. That seemed nora
tnan fair on the part of the real esta,e
owner. He is now paying on an aver
age twenty-five per cent Of tho IN.
come from his properties in taxex =,
ssouid seem as il the owners Of otha'
propefties might stand tax whether
~ - an income tax or what YOU r1ease
son'cient to take one-third nf ~
New-York tribune., 1919-04-27
Ray Tribute to Mouquin's
9th Avenue Restaurant
old,iners Take Parting Look
at Landmark Soon To Be
Sold at Auction

Since the announcement that within
the next few days Mouquin's Sixth
Avenue restaurant will be sold at auc.
tlon there has been a noticeable gather
ing at the place each night of old
timers.
They relate many interesting hap
pcnings III the place in years gone by
ana now the old two story wooden
structure built more than century
ago by Isaac Narian stood in the con-
tre of his farm, whose rambling fields
and pastures stretched west to the
river and as far east as Lexington
Avenue. Through this pastoral land
scapc wound couple OF cowpaths. ant
these paths are Broadway and Sixth
Avenue to-day
When Isaac Varian died the farm was
sold. A public road was cut through
and 1t passed directly in front of the
house. line Of stages operated over
this road, and what is now Mououin's
restaurant used to be the first stop
after leaving Bowling Green.
Henry MouQuin, father Of Louis. and
founder, in 1870. of Mouquin's restau
rant in Fulton Street leased the old
Narlan house in 1897. 1t was then
known as the knickerbocker Cottage.
He bought out the business of Charles
Jacquin, the inventor of what is known
rs the "red ink table d'h6te." Jac-
gum had conducted the place for ten
years. serving course dinner with
VINE Tor % cents. Mouquin abandoned
the table -d'hotc and instituted the b
carte system.
Joseph =. Day, auctionecr, has been
instructed to sell at Supreme Court
foreclosure sale the property on
Wedncsday next ut 12 o'clock in the
Vescy Street sacsroom,
New-York tribune., 1919-04-27

Inspection OF the tax bills as the,
hmally passed the Legislature at Al
o"Ny VIII afford but poor satisfaction ts
owners OF real estate in this city. II
mad been expected that n personal in,
come tax law would be enacted. be-
cause II was very generally conceded
to be the only source of revenue avail.
able to make up the losses occasoned
by prohibition and to provide for the
greatly increased cost Of state and mu-
ncipal government. That much was
accomplished without much opposition.
But peonle interested in real prop
erty in this city and vicinity had hoped
to obtain from the Legislature some
sort of effective check upon municipal
eNtravagance..had indeed made that
the more prominent feature of their
propaganda.
Taxation Of real property in New
York City had increased so rapidly
and to such an extent that it threat
ened to defeat itself by continuous
pressing down of capital values. If
continued it threatened practical con-
-tiscation. The basic cause of all this
was and is felt to be the unwarranted
eXtravagance of the city administra-
tlon,. and something beyond the mere
provision of new sources of revenue
"oo iCiI ~ oe necessary III OrQ9r TO
secure even the beginning of reform
in that respect.
The Real Estate Board led the move
ment- toward retrenchment in city ex
penditures with its bill to limit the tax
on real property to . per cent of the
assessed valuation, this act to take
effect in 1920. In the hope that
larger revenue might be raised from
personal property by low fat tax
rate the Real Estate Board also pre-
sented and advocated bill fixing a
rate of onequarter of per cent for
this purpose.
259 Bills on Taxation
These, however, were only two OF
2o9 bills relating to tax matters that
the Legislature was asked to consider
Many we're conflicting, some of them
overlapping and some visionary. 1t
was impossible, of course, as appeared
early in the session, for the Legisla
ture to give adequate or proper CON
alteration to all these bills. The life
Of legislative session extends rarely
New-York tribune., 1919-04-27
Webster Av. Apartments
Bought by W. HI. Melich
Buildings Near I68th St Bull,
Six Years Ago-Sales of
NOtherly Borough Houses

William II. Mehlich has purchase ID
the three ivc-story twenty-family
flats at 1928 to 1896 Webster Avenue
near 16sth Street, from the O. J.
Schwarzler Company, which erected
them about six years ago
House In Seneca Avenue Sold
Samuel Cowen has sold to an in
vestor 1216 Seneca Avenue, near Hunts
Point Avenue, a gve-story building. on,
u plot 48x165.
Rabbi Buys 140th Street House
Mrs. c. R. Meincke has sold the
three-story brick dwelling, 17x1OO, at
ava East 140th Street to Rabbi A.
Gallant. 49,
Sells House on Fox Street
..Stelnman & Steinman have sold for
Nj. Herman, 1040 Fox Street. five
story house on a plot 50xl0O.
Dwelling for Congregation
The Talmud Torah Carcses Israel. Of
264 West l43d Street, has purchased
from Dora Sniderman. the three-storv
dwelling, on lot 16Sx10O, at 100
Edgecombe Avenue.
Buy~ for Two-FamiIy House
Amcs & Co. and Nicholas Leopard.
nave gold the two-famly house at
2ol3 Honeywell Avenue for John p.
caffey, Of Boston, Mass, TO Rubin
Marcus. ''"
robert Avenue Property Sold
Calm e. Pittman have bought two
and half story house. on nloI
oooAlOO. at 1872 Robert Avenue. through
Matthew M. Goodman
New-York tribune., 1919-04-27
Suburban Developers Greatly
Concerned Over Provisions
Intended to Prevent Fraud
in lnstalment Selling

Long Island Real Estate Exchange
said of the proposed law it will be
pretty hard oi those who expected to
buy hoMes ca instalment payments to
DO so, Tor there will be no homes ia
buy. Well known developers and
builders who have been in business for
many years and some Of whom have
built thousands Of homes declared TINT
they would retire if the bill became a
law.
Applies Only in City
James Frank, former president of
the exchange and now its legal adviser
declared that the bill represented sne-
clal legislation. since it applies onlv
20 HreateS New York. In Nassau. Suf-
folk and Westchester counties dis
honest practices can be carried ON n :
OF old. "This bill practically makes
bankruptcy crime" Mr.. Frank con
tinued. For instance, We have war:
the iendlng OF money ceases; an owner
Is unable to finance his PROPERTY when
mortgage falls due; he\loses his
property in foreclosure, and. being un-
able to meet the terms of his contra ct
and deliver deeds, he becomes guilty
OF crime.
=, But that is not all. What will be
the enect on mortgage lenders? When
loan falls due either it will not be
called or the owner will be put in iail.
Under the necessity of making a dis
agreeable choice those who have money
VIII make no mortgages at all.
We hold no brief in this associa-
tion FOR the man who is unable to de-
liver good title at the proper time. but
there is such a thing as misfortune.
This bill makes the unfortunate ones
liable to blackmail. We should have
bill to prevent fraud and this associa-
ton prepared one calling for the fling
OF maps, the naming OF all owners, the
stating of all membranes and def
mite announcement Of all provisions
for releases"
Declaring that he now is prepared
to proceed with the building of many
low priced suburban homes, which op-
Grafton probably will be put off in
definitely, Richard Childs. who has
erected many homes in the vicinity of
Mineola, Long Island. said that it would
be impossible hereafter to get outside
capital to help in the development Of
New York's suburbs.
Home Building Threatened
New York wants more living quar-
ters,' Mr.. Chlds said. "and the gov
ernment is asking us to go ahead with
building operations as patriotic ne
cessity. Yet under this bill we cannot
build and sell houses without the pos
sibility of going to Jail. There is no
doubt that under the circumstances the
building OF homes for sale on the in
stalment plan will stop and rents will
go higher. We viii be afraid to do
New-York tribune., 1919-04-27

J their rights or lack of funds, Mr.
Hirsch said. 1t will be noticed thai
the bill says that the companies which
receive in monthly instalments slOl
or less are subject to the operations
of the bill. 1t is drastic for those VINO
want to play fair. 1--WE are sorry
Mr.. Hirsch continued, "if it affects
! their business, but that is secondary
consideration. Our aim is the protec'
ton Of the investor, and he needs this
projections judging from the unprincl'
pied methods of some land companies
which have come to the committees
attention since it took up the tax lien
business.
at was our first plan to place com.
panies selling land on the instalmen'
plan under the jurisdiction OF tne
Banking Department, but we found 'hs'
that department could not very well eS
tend itself to take on this new duty
Finally Mr.. Orth. of the District Aticf'
ney's Office, suggested the idea be incof,
porated in the Boylan bill. It isa gooo
measure. 1t may hamper the real es'
tate man at first. but it will prove 70
his good eventually. The concern
which does not want to be restricteso
will not have offices in New York II
will locate outside the city limiis.
That is sufficient warning for 'ns
lot investor to be cautious. Every on.
knows that New York City is the gfes'
real estate selling market. The non
est concerns will not remain here.
1t must be borne in mind, Mr.. Hirscp
said, that the Boylan bill covers .ns ns
operations of every land concern WIZ
headquarters in New York City, ever
though the property of the concern
may be thousands of miles away from
New York