davidaulloa/AmericanStories huggingface dataset:
Kentucky Irish American. (Louisville, Ky.) 1898-1968, 1919-09-06

Mr.. and Mrs. John O'Brien and
daughter, Miss Joyce O'Brien, of
New Albany, have returned from a
visit of four weeks to relatives and
friends M Bowling Green, Owens
boro and Greenvile.
Kentucky Irish American. (Louisville, Ky.) 1898-1968, 1919-09-06

Monday morning the funeral of
DR.. Martin F. Coomes was held from
the Cathedral. attended by many of
his professional brethren and old
friends. DR.. Coomes was seventy
two years, old and had long been
recognized as one of the leading
physicians of Kentucky. He is
survived by his wife, Mrs. Fannie p.
Coomes, for whom there is felt
sincere sympathy.
Kentucky Irish American. (Louisville, Ky.) 1898-1968, 1919-09-06

Sergeant Carl P. Roth and Miss
Agnes Roth spent last week in
Indianapolis, the guests of Miss
Laura Keen.
Kentucky Irish American. (Louisville, Ky.) 1898-1968, 1919-09-06
SOCIETY.
ACKNOWLEDGEMENTS

|. Miss Nora Harlow has returned
+, from New York City.
Mrs. A. E. Broderick has returned
from a months stay in New York.
Miss Julia Mullen, of Jefferson
Vile. is in Chicago for three
weeks visit.
Mrs. Agnes .McGrath spent the
weekend in,Lexington, the guest of
Mrs, Paul Heating.
Miss Teedie Tierney has returned
after spending a pleasant vacation
in Honey Grove. Texas.
Miss Alice Flynn. East Chestnut
street. Jeffersonville. has returned
from a visit to friends in Cincinnati
Sergeant Carl P. Roth and Miss
Agnes Roth spent last week in
Indianapolis, the guests of Miss
Laura Keen.
Mrs Eleanora Liston and Miss
RJdhs vi nave
been enjoying pleasure trip to
Winona Lake.
y Attorney Glen Higgins and
mother, Mrs. Carolyn Higgins. have
returned from months sojourn at
Boiling Springs, Tenn.
Mrs. G. A. Schmitt and daughter.
Miss Irene Scbmitt, have returned
from Birmingham, where they visit
ed Mrs. Daniel Hogan.
Mrs. Fred Hang and daughter,
Miss Mary Teresa Harig. will return
today from Tryon, N. C., where they
spent some time at Oak Hall
Mrs. M. j. Tierney and daughter,
Tierney, who have been
visiting in Texas during August,
will return home this month.
Miss Jane Doherty entertained at
her home in Jeffersonville at cards
Saturday afternoon in honor of Miss
Anna Miller. of Pottsyille, Pa.
Kentucky Irish American. (Louisville, Ky.) 1898-1968, 1919-09-06

Mrs. Eliza Carol, aged eighty
five, aunt of Miss Mary Rose Kelly
and Miss Julia Cunningham,
1915 South Seventh street, passed
to her eternal reward Wednesday
morning, ending a life filled with
devotion to her church and her
friends. Her funeral was held
yesterday morning with requiem
high mass at st. Louis Bertrand's
church.
Kentucky Irish American. (Louisville, Ky.) 1898-1968, 1919-09-06

Mrs. G. A. Schmitt and daughter.
Miss Irene Schmitt, have returned
from Birmingham, where they visit
ed Mrs. Daniel Hogan.
Kentucky Irish American. (Louisville, Ky.) 1898-1968, 1919-09-06

Mrs. Eleanora Liston and Miss
Emma Ryan, of Jeffersonville, have
been enjoying pleasure trip to
Winona Lake.
Kentucky Irish American. (Louisville, Ky.) 1898-1968, 1919-09-06

y Attorney Glen Higgins and
mother, Mrs. Carolyn Higgins. have
returned from months sojourn at
Boiling Springs, Tenn.
New-York tribune., 1919-09-21
Banishment of Flat Trolley Rates in New Jersey
Blow to Home Development and Real Estate yaIues

Whatever may be the merits of the
zone fare plan applied by the Public
Service Cooperation of New Jersey to
transit lines, real estate men are op-
posed to 1t at present and would well
come the repeal Of the plan Thou
sands of small home owners and thou
sands who are still IN the process of
buying homes are with the real estate
men in their stand against a continual
ton Of the transit fare plan inaugu-
rated all over New Jersey last Sunday.
1T has developed into q political
issue, to the glee of real estate in
terests who hope by making it a capi-
tai issue in the political field that
pressure will be brought TO bear on
transit officials and the Board of Public
Utility Commissioners to the advantage
Of real estate and the small home
owner or buyer.
Real estate men look at the stua-
ton with apprehension. They see in
the plan the dissipation of the benefits
Of years of propaganda, development
of a demand and good will for New
Jersey real estate, and the destruction
IN part or in whole of the financial
structure built up and around real
estate.
New Jersey suburbs, and for that
matter the suburbs of New York CITY
and other large commercial centres,
have been developed on cheap transit
based on fat rate.
Scent Fare Slogan
Real estate developers have made
capital Of cheap transit The scent
fare was held up to the public in
large and compelling advertisements.
The transit companies encouraged this
work 'f the real estate men in build
ing up new areas by cooperating in
ment. Municipal interests were also
interestei' in operations of real estate
men and helped them and the trac
ton companies to accomplish their
plans. y meant for the municipality
or the nearest town or city large pop
ulation. high realty values, EXPANSION
New-York tribune., 1919-09-21

near the Astor estate a. Red Hook, 0.
the Hudson River.
There, are a score OF heirs 70 ~.
property of Henry Astor. Instead O.
absorbing, or rather distributing. TIM
real estate among the claimants IN.
der the trust agreement, the hein
nave agreed 10 a friendly action. ask.
ing the court 10 partition the property.
1t VIII be brought into the Vesey Street.
auction market some Of these DAYS
and the grasp of the Astors or the
real estate Of the Eden Farms section
VIII be permitted to be broken by The
Astors themselves. The papers IN the
case do not attempt to make the action
appear anything but friendly. The law.
yers ask for partition in the franses.
form possible in legal procedure, bu.
behind it all is reason which the law.
yera or the Astors are not willing .c
discuss on the score that it is no
ones business but theirs. But the
tongue of the public will not be stillsd
by the silence Of the Astors and the
query, What is the cause of it all"
viii live until the public's curiosity
is satisfied
Vincent Astor has sold property BE-
fore this year. He parted with n lsrr
tract in The Bronx, but for highly
improved parcel in the business hob
of The Bronx. This was a transaction
with the American Reai Estate Com
pany. He sold the corner of Broad.
way and Nipetieth Street, on whea
he had erected a fine market building
to Adolph Lewisohn. who gave hin
realty of another character in par
payment. But not until recently hs'
the young man sold property ic'
money alone.
New-York tribune., 1919-09-21
Campaign to Bring More
Mortgage Money Into Use
Plan OF Guaranteeing Certificates Begun by H.
kalller, President of the New York Title and
Mortgage Co., Seeks to Interest Small investor

The New York Title and Mortgage
Company, which not long ago started
q plan for the guaranteeing Of titles
to real estate IN all parts of the United
States, now plans the sale of cuaran-
teed mortgage certificates. II. A.
hahler, president Of the company, SAYS
this new plan has been developed in
an effort to bring new mortgage money
into the city.
In the ten years ending 1914 says
Mr. hafier, the amount has dropped
70 SlS5,OOO,OOp, or i decrease of about
oo per cent. The reason for this was
the embargo placed by the government
on new construction during the war and
the call for financing the cost of the
war by the sale OF Liberty bonds.
among those who responded most lib
erally were the great insurance com
panles, savings banks and trustees of
large estates, upon whom construction
interests depended for their first mort
cages: Money available for mortgages S
was absorbed by the government. Once
IN the hands of the government. by
means of bond sales and taxes, it was
then redeposited in the commercial
banks and used by them under the in
in short term credits for financing the
expansion Of commercial business on a.
basis of highly inflated price level.
Ihls is the actual condition as it is
day.
The future is made even more omin-
lous for the use OF a substantial vol
unle at the nations wealth for internal
permanent development by means Of
mortgage loans by the bill introduced
by Senator Edge, Of New Jersey, by
which the resources Of the Federal Re-
serve system are made available for
certain domestic corporations which do
an exclusively foreign business. They
are allowed by This bin to make loans
on foreign real estate, and therefore
require long credits. Money available
for mortgages at home Will thereby be
lessened.
"The scarcity of mortgage money Is
further helped by the fact that under
the present tax .system income from
New-York tribune., 1919-09-21

English tax. When both governments
have had their snare Mr. Astor has no
income; in fact, he has TO draw on hic
surplus in order to meet the full
amount of both taxes and maintain
himself, which is contrary to the AS
tor family's business axoms.
Vincent Astor, Of course, escapes
the tax levied in England on the in
come Of his uncle, Baron Astor, and
of his cousin, but as resident of
America his taxes are high, so high,
the man i'll the street figures, that the
income from his choice real estate is
not sufficient to maintain him after the
government has taken what the law
demands.
1t is all conjecture on the part of
the man in the street when he says that
by the sale Of income producing prop
critics, such as the Putnam Building
and the Schermerhorn structure, in the
wall Street zone, and the investment
of the proceeds in tax exempt bonds
that Mr.. Astor may live we'll within
the return from his investments and
yet do all that the government expec Is
Of him. The vacant lands. of both
houses Of Astor, scattered through
Manhattan and The Bronx, will have a
market some day, and whatever sacri-
fees are made now Of valuable real
estate holdings will be compensated
in the long run.
This, of course, is the theory of the
man in the street, who has been startled
by the change in the policy of the
Astor estates His deductions may be
far off the mark, but since the Astors
are unwilling to talk, and they are
perfectly justified in being reticent in
New-York tribune., 1919-09-21

of trade and the attracting of new
commercial enterprises.
From Newark, for instance, 5 cents
would carry one miles into the suburb,
of the city in the days when real es
tate promotion was at it's height in
that part of New Jersey. The trolley
was the riva. of the steam railroad
because its use permitted a large saw
ing IN fares each day. The home
owner living five or ten miles outside
Newark few years ago rode into
,he clty on one of the many radiating
INES OF electric railways and took the
Hudson and Manhattan tube train INTO
ne" ork City, or accepted the service
OF one OF the many steam railroad
systems passing through Newark.
under tEe zoning scheme instituted
py the tcolley corporation competition
win the steam train systems has been
eliminated, "a the tariff on the trolley
mile figures about cents, which is the
same as the travel cost on the big
railroad routes.
In other words, the man who rode
say ten miles for a or 10 cent fare
must pay 20 to $50 cents to travel the
same distance under the zone fare plan.
Bad for Small Homes
Inc statement OF the traction inter
ests that the zone plan is a fair one
because 1t is based on distance trav-
elied , Is not accepted by all Jersey
1oiks. Ihere are many who will have
to pay cents for ride of little more
than a zone and half unless thev
walk to the nearest zone limit and take
a car there and alight at the other end
OF the zone and continue their walk to
their destination, which may be a few
blocks INTO the next zone. To ride these
lew blocks on either end of the zone
travelled would not be economy. be-
cause the cost of travel would be as
much as 4 and cents a mile. The
family that goes to the suburbs and
ouys house on the instalment plan is
forced to exercise the strictest econ
omy- Every cent must be put to useful
purposes.
Great distances will be travelled to
New-York tribune., 1919-09-21
5CHERMERHORW BUILDING EAChvG TRINITY CAuRCH
ANOTHER RATIH DISPOSED or BY VINCENT As70p

ing about S4,O0O,OOO This property
gave Mr.. Astor an income of $500, 600
year minus the cost of maintaining
it. This realty was resold recently TO
the Famous Player-Lasky Corporation
as a site for an office building and
theatre. The profit on the resale was
said to have been S1,0O00O0, the deal
being one of terms favorable to the
buyer.
AstOr House Site Deal
1t is now reported that the remain
ing half of the old Astor House. stand
ing at the southwest corner of Broad
way and Barclay Street, is under ne
gotiaton which, if consummated. will
result in the removal of this old land
mark and the development of the site
with modern structure. Nothing au-
thoritativc has been heard on this sco,e
yet, but in view of the previous dis
posals made by the Astors such a step
would not be out of question. l. has
been common gossip for some weeks
that several speculative interests W. II
after the remnant of the famous old
building.
Before the snow flies the Henry As
tor trust property, comprising scores
of tenements, dwellings and few til ,
atres located between Broadway and
the Hudson River, Forty-fourth AL
Fifty-second streets, Will be placed ou
the auction block for liquidation. 1t
Will be the first time in history tnst
Astor property has been sold from an
auction block. Henry Astor was the
grand-uncle of Vincent Astor, AID
there are many Of the heirs of Ill.,;
estate. He was little known until his
death a few years ago, because he had
estranged himself from his family Dv
marrying the daughter of farmer
New-York tribune., 1919-09-21

are needed now than were nccded thor
i1al1 or these homes have been made
necessary by marriages; the remainder
- chargeable to speculative BUILDING
enterprises, replacement by fire. .v;n1
and flood and somt to buildinp en-
largements. To be exact, every nor
MAJ MAJ year, this country required about
oVo'Voo new homes or places Of abode
"n1Cn ,iCI includes apartments and hotels.
me biggest building year the coun-
e,y Try ever had in 1916, developed about
o. e. i'ooo,ooo'ooo worth of construction.
me greatest volume Of building mate
rails Of all kinds that all the build
ing material manufacturers of all the
country turned out in single wear
1otalied IN value barely $4,000 900 900
mat was in the day when labor was
plentiful and friendler to capital. be-
lore war laid its heavy hand upon man
power In this country To-day it is
estimated that all the manufacturers
OF al the 5000 kinds of building ma
terials and equipment that can enter
INTO the construction of modern
enu,dolng, cannot turn out more than
sSoo'ooooOo worth Of materials while
the potential volume Of building re-
qulred at this very minute would cost
$4,500,000,0OO. N ~oS'
New Era Of Industry
You, as captains Of great indus
try start the new. era of prosperity
that is denied to producers Of other
commodities. 1t is that by your close
adhesion to actual cost in fixing YOUR
market prices you have kept the cost
OF building materials 90 per cen. be-
low the price Of actual commodities
so that the pre-war dollar will today
go farther in producing buildings :hAn
will the same dollar expended IN com
modities in general. 1t is largely re-
sponsble for the fact that ALTHOUGH
commodities have been ud-
vanced 116 per cent over what they
were in the days before the great CON
dict, construction costs have advanced
only SO to 100 per cent over what they
were prior to 1917. This in spite Of
double the freight xate Of 1916"
New-York tribune., 1919-09-21

such matters, tongues will wag and
stories will multiply.
The anomalous state of the world,
the direct result of the war, may be
measured by the contrast in the policy
OF the Astors with regard to their real
estate. Only a condition of the great
est urgency would have forced the sale
of the four buildings which both fami-
lies have sold since the first of the
year. They were the goldfields of the
families. the brightest gems in their
row of holdings. The first shock came
when Captain Astor sold the Astor
Court Building, 10 Wall Street, extend
ing through the block to Pine Street.
The Bankers Trust Company paid ST.
$4,000 III cash for the property, which
was the only terms on which the prop
erty could be bought, and the only
terms on which any Of the Astor prop
crty has been sold. The passing of
the Astor interest in that property
meant the terminating of an ownership
that started back in the early sos.
The Bankers Trust Company plans the
Improvement of the property and addi-
tional realty on Pine Street, which has
already been secured, with tall build
ing.
| Ten days ago Vincent Astor is said
to have received s1,5o0,OOo for his
Schermerhorn Building in the same
block and surrounding the First
National Bank at the northeast corner
of Wall and Broadway and the Ameri-
can Surety Building at the southeast
corner Of Broadway and Pine
Street. The property is known az
96 Broadway, 6 Wall Street and 8
and Pine Street. The Broadway end
New-York tribune., 1919-09-21

mortgages is forced below the norhs'
level ard made exceedingly una'la'.
i've to investors. Some mortgages ..
present in the hands Of those OF ia'ts
income net often only 3 per cent aaa
some as low as per cent. "neh go,ii
ernment bonds are untaxed ana W.
L higher income. this tend 10 iV.s,
money out Of mortgages into nisA''
yield securities.
"The movement to exempt from !.
come taxation mortgages in the nsIs. =.
of q single investor UP 10 Sso'0oo VIII
some hep IN replenishing the sapF'
OF mortgage money
The main thing now is 10 diseo',..
q rev source of mortgage money Y. y.
small investor-the working man.
farmer and the small business sa
of the smaller communities OF
country who have an uninvesteo ID,
plus now deposited in the sns
banks OF our rural communities II.
To tap this reservoir Of CAPITA ' =.
Kahier proposes an extensive camp
of education through the agency
local banks in these rural commua.o II
for the sale of mortgage certiheasl.e,' !.
small denominations. Mr.. kaH,s, sr.s;.
now addressing letter to the rS,st.
dent Of every bank IN New forA % so'Sos
outside of the city, and VIII Yer Yer,
that with the same letter to p'ATbs Tbs
in all the New England states Hons
theme of his letter is Keep tne arirg
Fires Burning He attempts 70 se .n.
home to the country banker i;sI IN.
tion that part OF the present so;'h huId.
rest is caused BY the stoppage u
ing during the war. .sl
High rents are the supreme sIlsy
irritaht,' says Mr.. kah.er. ~ ,lav,srchy
this breeder OF Bolshevisrl ana a'.s ~ mot
building must start at once II s-snes
be done without more money 70 ,.1s raus
first mortgages. This money nu,' boss
from the people. First mortgAs cen:
building certificates yield o's Pc nria.
interest and are guaranteed. Inv yssrs
cipal viii be returned IN I'VE s, syery
and the buyers are assured tnai n1a,i;aestss
dollar they put in these eerssaAsdYs
will go into the building OF so~
home"
New-York tribune., 1919-09-21

of the structure stands on the bastion
of the palisade or wall which was
erected along Wall Street to protect
the little colony to the south from raids
NY Indians and unfriendly neighbors.
Mr.. Astor's ancestors bought the
property when it was worth only a
small fraction of its present value. 1t
was a paying property. The in
come was practically net, as there was
no mortgage on the realty. Mr.. Astor
was paid cash for the building by the
American Surety Company, which owns
the neighboring structure.
This deal ended Astor interest in
realty in this block, in which is some
OF the most valuable property in the
would. Just previous to the consume
mat ON OF this transaction, Captain As
tor sold the Exchange Court Building,
at the south corner of Broadway and
Exchange Place, extending along the
latter street to New Street A valua-
tion of S2.S0O,OOO has been placed on
this building, which is twelve stories
high and covers wide frontage Oh
Broadway, New Street and Exchange
Place. Robert +. Bowling purchased
the property, meeting Mr.. Astor's terms
by the payment of all cash.
The Putnam Building, in Times
Square, was the first large property to
be sold by Vincent Astor. With the
Putnam structure, which covers the
block on the west side of Times
Square from Forty third to Forty
fourth Street, Mr.. Astor also parted
with Westover Court, the bachelor
apartment group in the rear. Robert
e. SIMON, as head of syndicate, paid
cash for the properties, the amount be-
New-York tribune., 1919-09-21

found on Manhattan Island. The young
men have disposed of $4,950,OOO worth
Of office property in the financial dis
trict, and block front in the "White
Light" section valued at close to S4.-
100000. The four properties are said
to have sold for $9,950,OoO in cash and
the yearly income from them amounted
to q fortune in itself, one of the par
cells alone having returned to the owner
$4,000 year in rentals.
New Workers are asking the reason
for this. Folks in other parts of the
world are apparently asking the same
question, because the news that the
Astors have broken their century old
practice of refusing to sell has been
sent broadcast and newspapers from
far distant parts of the world carry
the message of the great about of
this we'll known family of landlords.
No information is to be had of the
Astor interests as to why they are
o>AiiHS P1OPCAtJ "HlCH pays SO wen
and which they have held SO long.
Nicholas Biddle, who is the manager
of the business affairs of the estate of
which Vincent Astor is head, said that
the sales by Mr.. Astor of the Schcr-
merhorn Building, on Broadway and
Wall Street, and the Putnam Building,
IN Times Square, we're only coinciden.s
and had no particular significance.
Many Asking Reason
The man in the street is not dis
missing the question in this way. IIe
has his own views Of the reason for
the violent tack taken in the busines IS
policy Of the English, and the Amer.
lean estates. Mr.. and Mrs. vi
cent Astor have been among the most
patriotic during the war. Mr.. Astor
gave his yacht over to the service of
the navy and he himself entered the
naval service and took his stand in
the submarine-infested waters of the
English Channel, the North Sea and
New-York tribune., 1919-09-21

reach cheap housing facilities provided
the cost to get there is moderate
ana an VIII warrant the sacrifices made.
Inc thousands who have availed them
selves or the cheap rent transit rate to
get out OF Newark and other congested
and costly property sections tind them
selves IN the position of the boy whose
clothes were stolen while he was in
swimming. The thousands far-fune
about Newark have miscalculated
and will tind that the sacrifice in time
consumed on the trolley has brought
them nothing but high travelling cost.
Ihose IN position to do so will come
within the low fare limits, which means
congestion, high rentals and perhaps
unhealthy conditions within the low
fare area.
Values in the distant places are ex-
fected to feel the effect of the new
order of things. Traffic will also be in
huenced by the zone plan. If there
are three zones separating a certain
group OF bones from Newark say. and
only one from another town, travel will
increase in the direction of the latter
town. Business naturally will be i'm
proved that much in that town, while
Newark will lose proportionately No
city is SO large that it will not notice
or feel the loss of business.
The transit facilities provided in and
about Newark have made that citv the
largest in New Jersey. 1t may sur
prise folks that there are only two or
three corners in New York City more
valuable than one at Broad and Market
streets. Great department stores,
banking institutions and business pop
ulation have been supported on cheap
transit, according to the complaining
real estate men,
Bad for Trade
Newark's stores draw patrons from
miles and miles beyond the city's linn
its. They are the thriftiest of people.
having bought their homes in most
cases by piling up their small savings.
They will rebel against the increased
cost Of travel to Newark and will pat
zonlze nearer store centres, or, II not