davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1919-10-17

ee4AANe COUNCIL maze .u.Ila a.....
Mr. Ben viii represent the DiglrIrt
OF COlumbia on the state leEialallFe
council and also on the FEDERAL lc1s
lslative council
AT a meeting 81 the board 81 fi-
rectoFs Of thel Commercial Natlunal
Bank, &c was voted % elect no new
officers save three new directors
ROlfe p. Boiling remains president
OF the bank
Doubt has been expressed amonE
bankers here whether Mr.. EclirT
viii long continue IN his pFesen.
position He o. not decided. hove
ever. what steps be win take
The council Of administration cf
the District OF Columbia AEsociaticn
OF Bankers VIII meet this afterncon
az 4-3o O'Clock IN the rooms 81 Wlg1-
Ingtcn Stock Exchange. 60 hear res
ports BY Maurice D. Hogeu1er8 and
Col. Robert u. Harper on the iuVlLa-
tlOn extended TO the American Bank
ers' Association 70 have itg next con-
vention in Washington
The Washington stock EIehaE1e
ruled moderately active today, uill q
variety OF stocks changing hands and
the sale Of 100 shares of Columbia
Graphaphone common featuring -1e
days business. Small lots cf guU-
merclal National Bank continued @
attract buyers.
After call $4,000 OF Capital Tractfon
SIS sold at o. Washington Gas was
drm az 5OH. Capital Traction gteck
sold az 81
The Washington times., 1919-10-17

luton went no further than the eX-
preston OF that one general princt-
pie. which ne did not think was
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23

that competition from new construc-
ton will be limited III that section.
This is not the case in The Bronx,
where great areas are awaiting the
coming Of the builders.
Whether new construction will ma
tcrially reduce rentals may be judged
by the fact that builder who has
in mind the erection OF a non elevator
house in the Sedgwick Avenue section
of The Bronx has discovered that he
viii haVo TO charge $50 a room to JUS
tify the investment. The house would
cost S220,00O to put up. Three years
ago about $4,000 would do the same
Job we'll
1t is likely that SO room will be
the average in the West Bronx for high
class apartment accommodations and
that S12 Will be the average in the
East Bronx for this year. Since new
construction on Washington Heights
will cost at least % per cent above
that of three years ago. present rentals
will move up close to those which will
be charged in new construction. The
competition is really against new con-
struction, and until builder with
courage and money such as G. L. Law
renee takes the initiative others will
hold back
$40 Room on Heights
Rentals have not reached SEQ a
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23

estlng bases for speculation in real es-
tate. AS the professional sees things
there is only one weak link in his an
ticipated campaign, and that is re-
mote one, because construction IS not
expected to resume sufficiently to sup
ply the housing demands of the city
for at least five years. If they have
reasoned incorrectly with regard to
construction they have not with rent
ais, because high rentals arc here and
they will remain, for building interests
frankly admit that houses cannot be
produced for less than % per cent
above the old costs and that tho rent
ais which would have 20 be charged
to support such construction would be
higher than those prevailing to-day.
The investment value OF apartment
property. or, for that matter. any prop
erty in good condition, whether it be
residential or commercial is such as
to attract the investor. Even at the
increased values in the Heights section
dollar invested in real estate has
greater earning power than dollar
placed in almost anything else. This
might be put in another way. and that
is that a dollar in real estate will go
further than two dollars in something
else.
The Spectator has looked over the
general market and sees prospects Of a
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23
enyers Competing for Living Space Cause Visions OF Big Profits
In Minds of Washington Heights Bronx PLAYHOUSE Specu

A house worth $4,000 in the Dccembe
market is held at 100000 in the March
market. This increase in value has nat
urally been followed by correspond
ing increase in rentals because the in
come must substantatc the sale price.
Although the excellent renting con-
ditions in the apartment houses made
the Heights and The Bronx the logical
sections for speculation, the boom is
not based entirely on rentals Rentals
arc means TO an end, and that end is a
wonderful selling market at prices far
above those which prevail TO day.
Operators admit that they arc buying
IN anticipation OF much higher values
They are certain that investors will
soon appear in numbers greater than
ever before. because real estate has
proved itself By comparison with other
investments the best of all and more
free from government levy on profits
than many others. The latter factor.
the speculator thinks, will help real cs-
tate, and especially apartment houses.
He is capitalizing the fact that depre-
Citations permitted by the Income Tax
Law on apartment property can be
made to reduce on paper the income of
house without actually affecting the
income.
Based OF Building Stagnation
Never have there been such inter
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23
Propose to Exempt
New CONSTRUCTION
Taxes on Residential Buildings
Not To Be Levied for
Two Years

A bill is before the Legislature
amending the greater New York Char
ter IN relation to temporarily EXEMPT
ing real propcrty from toAatlon, BY
providing that:
Where unimproved land is I'M.
proved by the erection thereon of a
tenement house or apartment building
at any time within two years after
the enactment of this act, the assessed
valuation of such land for the SAID
two years shall not be increased b.
reason of the erection thereon Of
such building"
The bill places premium on the
construction of residential premises.
Builders are idle not through choice,
but because of economic conditions
which prevail in this country Re
lieve labor and material costs and
builders will go ahead regardless Of
the tax exemption plan led out -
them
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23

too large for their needs arc already
demanding the return of their prem
lses under the cancellation provisions
which were inserted as a rule in every
lease OF this nature made,
No Place to Go
There is no redress for those in pos
session; they must leave and find other
homes, which will be rather difficult if
not impossible. Their lot is the more
trying because in most cases they are
of the great army of people who were
brought to this city by business neces-
sity at the start of the war, and they
are strangers in the city.
1t was the general belief that the
war would be long ono, otherwise the
changes, which seem to foreshadow
chaotic consequences in the housing
field of the state, would not have oc-
Cured
Premises would not have been sur
rendered and the incoming population
brought here on trade winds would
have drifted back to it's starting point,
or perhaps, would have scattered
around the suburbs.
Families who have retrenched with
out covering their retreat, as by con-
trolling possession of their homes
through the privilege of cancellation,
Will find it difficult to obtain places to
meet their enlarged requirements when
the men in the service have all re-
turned.
Government. May Act
Builders and real estate men sec ONLY
one possible good coming out of this
tanglc, and that is that the govern
ment will be forced to act-to
make an announcement regarding the
stability of building material prices.
II the government would confirm cur
rent building prices builders would
jump into the market and make GAL
liant effort to lessen the seriousness of
the pending situation. With everv
builder bent on producing homes the
lapse of a few months would find tho
situation such that old timers and
newcomers would have some place "a
call home, while builders continued
their intensive building programme
Builders Holding Of
The action Of tic government on
prices is all that is needed to set ever,
wheel IN the building industry MOVING
IN the right direction. Financial in
terests would support the construction
with plenty of money. Fear of the flu
turc shrinkage in prices is holding all
back, while the housing situation of
the state is becoming more acute with
the arrival of every transport from
France.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23
returning Warriors Increase
Seriousness of Home SHORTAGE
Families That ''Doubled Up'' During the War
Now Want Their Own Places-No Room, in
or Near the City for Them or for Newcomers

Great indeed, is the quota of men
sent from the State of New York into
the army under the selcctivc service
measure. 1t was said yesterday that
2ol,993 men left their homes in this
state Tor army encampments. either in
this country or abroad. 1t was also
salo Ihat these men are coming back
rapidly, and that before the spring
mas passed most of these many thou
sands OF men would be returned to
their home places. Real estate mon
builders and housing experts have &C.
cepted this Information with consid-
crabie mlsglvlngs, because the return
or the soldiers viii mean broaden
ing OF the already great demand for
living accommodations in evcrv
corner of the state, and especially in
the large cities, such as New York.
oenkers, Newburgh. Poughkeepsic.
Albany and Buffalo.
colors under the provisions of Tho
army draft there ensued a general re-
trenchment of living costs by nearly
every family in the state. Some woro
forced to retrench, while others re-
duced household expenses out Of no
trlotlsm or for some other reason
which prompted conservation as a war
necessity 81
Cut Down Space Used
This rctrenching generally took the
form OF reducing living accommoda-
tions. Families which occupied dwell
ings OF many rooms subleased and
TOOK up their abodes in hotels or
apartment houses, to await the return
OF the male members who had entered
the army or navy. Small related fam
ines very often doubled up, one apart
ment serving the two families. This
meant the placing of considerable
living space on the market, and at the
same time reduced the cost of a home
fully DO per cent in each instance.
Conservation, whether enforced or
voluntary, was a war measure due 10
the reduction of the size of the family
or OF It's income because of the demand
of Uncle Sam on the man power of his
nation for fighters.
The war Is over now and conscrva-
ton no longer means the same AS be-
lore the signing of the armstcc. Con.
scrvation in the matter of living ac-
commodations cannot be followed much
longer. because provisions must be
maze Tor the reception Of the men who
are returning. There will be n general
expansion in every direction. Families
who sub-leascd their apartments or
their dwellings, at the outset because
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23

old custom of renewing loans every
few years stop and the modern system
of each year reducing the indebtedness
be installed. 1t is the plan of Ameri-
can bankers to set on foot a country
wide campaign of education. A COM
mittee of six will be selected to carry
through the work in each state.
The general committee consists of
John J. Pulleyn, president of the Emmi-
grant Savings Bank. chairman; M. w.
Harrison, of this city, secretary: Peter
j. Slach, of Cleveland; B. f. Saul, of
Washington; II. ?. Bcckwith, of Fargo.
N. D., and William A. Nelson, of An
sonia, Conn.,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23
Started With Professionals
Amortizing Loans Aim
! OF American Bankers
Countrywide Campaign Start
/ ed in Favor of New System;
I Few Institutions Oppose 1t

!. The American Bankers Association
lihas set out to make amortizing loans
ION real estate general custom in this
country. Inquiries made throughout
1.-THE country BY committee selected
:;by the bankers at their convention
ilast September show that all but 18
,per cent of the insurance companies,
savings banks and trust companies are
ian favor of amortizing mortgage loans.
ut is estimated that s6,oO0O0O 900 in
.sFeal estate mortgages is held by this
,,class Of lenders.
4. Changed conditions demands that the
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23
Resale of Lassano Court
Brings Seller Quick Profit

Max Natanson resold to B. Rush
Stoddard Lassano Court, 3O7 to 31S
West Seventy Street, a ten-story,
high class fireproof apartment house,
100 by 100 feet. The property was
purchased about ten days ago from the
Elsce Court Corporation, and is now
being resold at substantial cash
profit through D. Sylvan Crakow.
Charles BELOW represented the pur-
chaser and Alexander S. Natanson
acted for the seller,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23
Far East Bank Takes
Broadway Quarters

The Thirty-seven Broadway Com
pany, Inc, has leased to the Asia Bank
ing Corporation, through Joseph P
Day. the ground floor and basement at
80 broadway, which will be used as
the New York home of the latter organ
llzatlon. The ASIA Banking Corporation
has branches in Shanghai, Hankow
and Will shortly open branches in
Picking. Hong Kong and Canton. The
lease, which is for long term, ag-
gregates we'll over quarter of mil.
hon dollars. Harry p. Hewes, Of Mr.
Days office, conducted the negotia.
tons. This is Mr.. Hewes's first big dea
SINCE he was mustered out of the army
as major of infantry few weeks ago
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23
lOOHousesSold|
This Year in
WildScrannble|
for Properties
Which Are Ex.'
pected toYield
Large Returns
Because Of
Lack of Space

room on the Heights, but tbev
headed in that direction. In a nn os'
Der of houses SIC room is now hsi.
paid. The situation on the He;ra,ss
and in the West Bronx has resoi'1s
itself into bidding contest for liv;ra
space among the tenants themselvass
Very often they set the worth of an.r,
ments by offering to pay more tbsn
was asked that they might get plaS '@
TO live in. This rental then becomes
the rental for all apartments.
The tenant, of course. is NOT >.
sponslble for all the increase in ron,
ais demanded. The boom had 10 \.
supported and rents had to be moysS
up to substantlate new fee values .nS
facilitate turnovers. 1t is a known
fact that nearly every change in owr
ership on the Heights and in The Brony
has been signal to tenants to nre
pare for another increase in rentals
Ihere Is house on Fort Washingtor
Avenue where the rentals have ho.s
jumped from 50 to close to sl5 roors
Eighteen months ago three rooms IN
this house rented for S27 a mor,S
The house was sold on yaluator
winch the new owner thought warrant,
ed $50 for the same apartments The
increase was paid so willingly that IN
owner added 81 to the rental Of es ssS
apartment a few months later "
added Sc next and aow he is dem,nd
ing S44 for the three rooms wh;sS
brought $27 year and a half apo
The expense of this house has M.
increased enough to warrant such az
advance in rental. There are seven,~'
.ive families in the house and each bs,
had to stand an increase of &C no,
cent in rental. There arc MANY sp rs,
cases IN the Heights and the Bronx. and
1t is such rental demands that led ono
of the best-known men in real estatS
to tell the upper Manhattan propertr
owners recently that they were wrone
III demanding such rentals and that !,
would react against them.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23
Homes of Thousands of Families
Involved i'm Movement That Is
PushingRentaIs Unheard-Of
Levels; High Values Expected

ii The volcanic uddenncss with which things began happen the
asNahngton Heights field beginning
bcliing Of
Inactivity ITS hvver; flash the
were of the used by
be lived
9 of
caught
steadily
.c volume of reported from
the ranks the the
which trading
grank of the professional element in the real
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23
Mrs. David ]. Davis Buyer of
Park Property at Purchase

Mrs. David j. Davis, of Cincinnati,
Park property at Purchase, N. Y, sold
recently. The Buckholz place, as it is
known, runs from the Blind Brook
River to Westchester Avenue and con-
sists of twenty-five acres, with house,
barns. garage, etc. After making ex-
tensive alterations to the house Mrs.
Davis will use it as an l-year-round
residence. Bryan L. Kennedy nego-
tiated the deal.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23

lease. He paid profit to the York
Building Corporation, which already
had paid a profit TO the Mason
Realty Company.
6. Forty families live in this
house, the Rockville, at the north
east corner of Audubon Avenue and
18th Street.
Z. Haven Court, at the north
west corner of Broadway and 18Oth
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23

4. Kings Haven, at the north
west corner of St. Nicholas Avenue
and 153d Street, where hfty-two
tenants pay $4,000 year in
rentals.
5. Rivercrest, at the southwest
corner Of Fort Washington Avenue
and 16Oth Street, purchased bv
John Weegan, who had the house on
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23

SO AS volcanic eruption makes lLSeli'
,,.felt through the surrounding country,
..ahe sensational buying on the Heights
..has had the effect of influencing activ-
.:5ty in The Bronx, and for the last two
.:Meeks decided Improvement in the
;.licmand for apartment structures east
.'and west of Central Park, particularly
..&est OF the park, has been noticed.
u Values Mounting High
a. Values on tho Heights have been car
tried to such point as to make real
Estate prices on the West Side com
paratiycly reasonable. 1t is likely
that sensational buying such as char
tcrizcd the trading on the Heights and
in The Bronx for the last ten weeks
,,iiswill be soon in full swing in the high
,,tlass apartment sections on the middle
..,,Nest Side.
s. Potentially of the trading on Wash
.'{ngton Heights is now recognized by
.thc renting public as we'll as the real
Hesitate man For the first time in many
ssycars conversation in public convey
lianccs and in public places is real es
:itase and the possibilities of profit be-
.sfause of the impulsivc effect this trad
3iI1ng will have on the market in general.
s1t is startling the hold which the real
Hesitate has taken on Heights folks. The
sjaupward trend of fee values and rentals
ilsis common gossip in the shops and
,i%henever men or women come together,
ilEespecially north of 135th Street, be-
cause not house north from that
.street to Spuytcn Duyvil and the Har-
.s1em River has escaped the influence
aof the current speculation.
~ Rentals have been climbing there for
,lat least three years. Generally speak
lang, rentals through the section have
idoublcd in that time Fee values did
'I;not move up as rapidly previous to
IIttlr.' coming of the new year, as siteq
s.sbetahse there was not the demand IL
I:support higher prices, although in
comes justified higher values than
prevailed last year in the Washing
ton Heights, Dyckman section and
THE Bronx.
" Started With Professionals
Trading at the north end of the
;lcity might be termed feverish. 1t has
ssbeen promoted and supported by pro-
.i5ne into the market. Rent payers are
Informing syndicates to operate in n
market which seems SO promising of
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23
!

Street, which Donald Robertson
sold at a profit to Joseph Shenk.
8. 511 West 184th Street,
quickly resold at a profit by Ennis
& Sinnott to Charles H. J. Delg.
9. The Tocomo, at 1864 to 1872
St. Nicholas Avenue, whose tenants
may expect a rental increase, be-
cause the house has been sold twice.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23

profit. Clerks in Offices of attorneys
who have been close to the buying
movement, representing the men who
have been buying there, have banded
together and bought an apartment
house which they expect to resell at
profit before the arrival Of the day
for taking title. Probably the most
significant feature of the "boom" is
the formation of specializing and in
vesting syndicatcs by tenants for the
purpose of proGting by the revival
of the market or to protect them
selves against further increase in ren-
tails.
There can be no better indication
than this of the sensation which the
last three months of buying and SELL
ing and rent increasing has had on
real estate men and tenants in the up
per sections of Manhattan and
through The Bronx.
Conservative real estate men, men
who have been close to the Heights and
The Bronx situation from the start and
who have shared in the activity, say
that more than 100 different houses
north of 135th Street, Manhattan, have
been sold since the first Of the year
and perhaps as many moro have
changed hands in The Bronx. How
many times each house has changed
hands cannot be ascertained because
options and contracts have been
marketed with ease
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23

eral Ballington Booth. Mr. Long ex
poets, to occupy his new home next
month.
The property has been held at
$4,000. +. M. Crawley & Bros, of
Montclair, were the brokers in the
transaction.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23

The house is three stories, of brick,
half timbered, with stucco inserts and
contains fifteen rooms, 5 bathrooms,
billiard and cedar rooms, solarium and
palm room.
The grounds are 300 feet in depth
and adjoin the former home of Cen
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23
Old English Dwelling on MontcIau Heights
FOR FredR Long, Coal Company President

Fred r. Long, president of the f. r.
''ohs Coal Company, of New York, has
purchased from Mrs. Madeleine f.
Smitn the Elizabethan designed resi-
.nee on the east side of Underclifr
Road, Montclair. Vim
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23

taken it in foreclosure at $15O,OOO.
). Once the property of the de-
tunct American Real Estate Com
pany, the Manhasset, on the west
side of Broadway, from 1O8th to
lo9th Street, is now owned bv a
syndicate. 1t rents now for $780,
OOO. 1t was sold for $1,O5O. 00O
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23
25 Per Cent Increase

1t can be said that every apartment
mousse on Washington Heights and in
many parts of The Bronx has increased
IN value since the start of the wear
Conservative estimates place the in
crease at as much as IL per cent, while
IN number of cases, as a result of
series of rcsales, values have been
moved upward 25 per cent over those
OF last December. One can fully
grasp the meaning of this when it is
remembered that one quarter of the old
value of the house has been affixed
during the last two and half months
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23

The Book Construction Company has
resold COG West Hath Street, four
story American basement dwelling, on
a lot 14x100.11, purchased by it last
week
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23
Litchfield Gives House TO Son

Edward H. Litch6eld. lawyer, has
bought as gift for his son the fine
six story American basement residence
at % East Eighty-frst Street from
Marie L. Cowan, the sale of which was
announced in the real estate columns
of The Tribune on Saturday. The
building, which was erected about ten
years ago by W. W. G. T. NJ. Hall, oc
cupies lot 20.6x1022, and was subse-
quently sold to the late Harry H. Hars-
ness. 1t was held at 100000
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23
Profits on Contracts

1t was nothing for an operator to
turn his privilege to buy house over
to another for $1,000. There have been
many times when $4,000 was paid for
this scrap of paper
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23

l. Rochambeau, at the northeast
corner of Manhattan Avenue and
18th Street, sold four times in
seven weeks.
2. Northwest corner of Pinehurst
Avenue and 177th Street, which the
New York Life Insurance Company
sold recently at a profit, having
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-23

Realty for Scarsdale Church
Griffen, Prince & Ripley have sold
for Mrs. Lucy Card, of White Plains, q
plot in Greenacres, Scarsdale, to the
Hitchcock Memorial Church, adjoining
it's property