New-York tribune., 1919-01-31
Norton. lilIv <
Co.l'repar'e for
Larger Ira de
Pay Nearly 100000 for
the tock Quotation
Telegraph Buil d ing
" i'll Occupy Si~ Floors
Buyers Control Lines to All
Parts of v orld: Americas
Advancement Seen in Deal

Norton. Lilly X Co. one Of the great
trade links between America and India.
Australia and other countries OF the
Far East. have finally concluded
negotiations Tor the purchase Of the
signteen story building of .he Stock
Quotation Telegraph Company. in
Beaver Street. just west of Broad
Street and near the Maritime FX-
change. Something less than 5000
600 $ being paid By the steamship
agents for the buldng which is the
'allest in .hat particular section Of
the financial district. and It's site Of
80 by 56 feet. extending back to Mar
kettield Street The lower six floors
are to be claimed by the steamship
concern /, is further expected that
additional floors VIII be requisitioned
by the company as rapidly as leases
expire. because it is the general I'M
preston that American trade in the
Far East. already great win be many
times greater and the eutire structure
viii not be TOO much for the require
ments of the concern.
It is far step from the Offices now
occupied by the concern in the neigh
boring Produce Exchange, the haven of
steamship interests for many years
Dingy and obscured, they are stuck
away in corner Of the Produce EX-
change Annex, reached only after Il
tortuous journey over long halls and
stairs.
The wonderful expansion OF Norton.
i.fllE & Is 10 :
grandlzement of commercial America.
ney could not longer remain tucked
away IN q far-otf corner of the anti
quated Produce Exchange Building For
sentimental as well as business reasons
they had to get out and into larger and
more accessible quarters.
Such quarters are hard to find in
'ower Now York these days There is
reason to believe that the steamship
agents learned that the space situation.
especially IN the financial zone, had
mutations that We're as great as those
confronting the steamship fcrwarders.
Larger premises were needed. and with
TO space TO be had on d leasing basis
the concern decided to buy. 1t would
ne an Investment and at the same time
solve the problem OF an adequate home
for the concern.
The Charles T. Noyes Company,
nearing OF the pllght OF the steamship
agents. suggested TO them the purchase
Of the Stock Quotation Telegraph
Building. which rears on the front win
eows of the Offices Of the agents. The
suggestion was acceptable and about
three weeks ago steps we're taken by
the real estate men toward the pur-
chase Of the property from the Stock
Quotation Telegraph Company.
he price to be paid IS secondary
1nattcr since the big interests in the
zeal are the wonderful expansion Of
he shipping business and particularly
INC Far East trade. as this transaction
indicates, and tho great shortage of
large space in financial New York.
The fortunes that have come from
tho operation Of ships during the last
four years made it possible for the
steamship agents TO pay all cash for
the building. It carries no mortgage.
which, indeed. is a real estate feature
which cannot be overlooked.
The building was erected BY the
stock Quotation Telegraph Company
about Ten years ago, and. in the opin-
ION Of real estate men familiar With
downtown buildings. IL is ono OF the
hest constructed and the finest main
tained buildings south Of Chambers
Street The foundations have been
carried down forty-dve feet TO bed
roca, who're the tall. narrow building is
anchored fast to the achbone OF Man
haitian Island
Although only hfty-six feet deep, it