davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1919-04-20
$500, 900 for Sherry
Building Alterations
Property Recently Taken Over
by Guaranty Trust Company
for New Home

The site of Sherry's Restaurant. at
the southwest corner of Fifth Avenue
and Forty fourth Street, which was re
Gently taken over by the Guaranty
Trust Company for its banking bust
ness, is to undergo alterations csti-
mated to cost S500,0 900.
The building is an clcven-story
structure and plans for its changes
have been prepared by the architects,
Cross e. Cross. The renewal of the
lease OF this property to Louis Sherry,
last fall, which has now been taken
over by tho trust company calls for
a rental Of 100000 year for the cor
ncr property. which is owned by Irving
Brokaw, and $4,000 year net for the
adjoining property on Fifth Avenue,
owned by Josephine Brooks These
leases are for twenty-one years, which
shows total OF $t.i73,000 the two
owners will have received at the end
of the term.
Sherry, in the deal with the trust
company, is to take over the quarters
now occupied by the Guaranty Trust
Company, at the southeast corner Of
Fifty Avenue and Forty-third Street
for his restaurant.
New-York tribune., 1919-04-20
Tenants Ownership of
Flats Solution of Trouble
Portional Purchase Plan Applicable to Many
Apartments, Says William E. Harmon; Would
BE Wonderful Fea ture for Realty

age, taxes, water rates, insurance,
coal, supplies, cost of collections,
lights, repairs and vacancies.
Repairs should be estimated at from
5 to 10 per cent Of the gross annual
income. Vacancies may be reduced
from PIX to 3 per cent at the present
time. A building of good construc-
ton, and in good condition, cap
italized in this manner should prove
an excellent investment.
Our interest in encouraging this
class of financing comes from the fact
that we believe it to be a good thing
for the community, for the landlord
and the tenant. 1t will free large
amount of capital for other opera
tions. 1t will develop a stronger
pressure in the direction of economy
in city expenditures, through the mul-
tiplication of those interested in rea
estate 1t will develop conservatism
among a class of people who now fee
that they are more or less the help
less victims of a plutocratic system
not knowing the handicaps under whici
the landlord of the City of New Yorl
has struggled the past few years,
New-York tribune., 1919-04-20

for price and his word once given
is final.
Perhaps the methods of this young
real estate giant can be illustrated best
by the recital of an actual occurrence.
Not long ago valuable corner prop
erty was put on the market for sale.
The price asked by the owners was
S1,2OO,0O0, and though Schultz seldom
buys he was interested in this prop
erty because its acquisition by some
one other than himself might result
in the establishment there of rival
concern which could cut into the busi-
ness of one Of his largest stores, near
by. While the proposition was being
offered to Schultz he was busily en-
gagged in his usual mathematical prob
lem, and within a few minutes he had
reached his conclusion.
Would Pay for Protection
"That property" he said sis worth
just about 100000 and that is all it
ever will be worth. | can afford to pay
100000 more for it than some one
else can because to lose it would mean
that my business nearby would suffer
erty at 81 900 900. all cash. | will sign
q tentative contract right now and III
give you n certified check for 100000
to bind the deal"
The broker, quite satisfied that the
deal was closed, called up his principals
to tell them the details, and was told
to bring Schultz around to them to dis
cuss the matter. In the meeting that
followed the owners of the property
did their utmost to have Schultz raise
his bid to $1,200,0O0, despite the fact
that the broker in whispers warned
them that all their talk could not bulge
h nd bpt at 70 rt 10
his position might lead to his quitting
the deal. But they thought that
Schultz was trying to dcker for a
price. They couldn't believe that he
had made up his mind definitely, and
that nothing they said or did could
cause him to alter his position. So the
upshot Of it all was that after a few
minutes Schultz picked up his hat and
departed with the injunction that his
offer was good for that day only.
Even then the owners would not take
Schultz at his word, figuring that he
could be brought to their point of view
their broker, calling on Shuttle q few
days later, received word that he was
not at all interested in the proposition
1t required six months and consider
able effort to engage Schulte's atten-
ton again on leasing basis and in
this instance, although both parties
agreed as to terms, second split came
when the owners demanded securities
for the lease entirely beyond reason
and practically beyond Schultes power
of compliance
Then came the third and final at
tempt to land him on a lease or part
Of the property. but before Schultz
would do any dealing he demanded
from the owners all their terms ane
conditions in writing, and on those
terms closed the deal. The sequel t,
this is that the property could not b,
sold today for within S25O,0O of wha
! Schultz offered for it: the nwnnrs or.
New-York tribune., 1919-04-20
Coast Rent Profiteers
Cannot Be Satisfied
Suhleases Give Them Free Rent
Besides a Good Revenue:
Sill They Complain

The Bureau of Industrial Housing
and Transportation, Department OF
Labor, has received from its field agent
on the Pacific Coast a statement of his
observation of the work done by the
Fair Rentals Committee, Of Seattle,
Wash The committee, after investiga-
ton, reports that it found subrenting
and the multiplicity of leases to be the
worst features Of rent profiteering.
cone party complained to the COM
mittec,' the statement reads, because
the owner charged him a monthly rem
tai Of s1O0. Upon investigation it was
found that the complainant was renting
rooms which brought him return of
$3.50 per month, plus keeping quarters
Tor himself and family.
"Recently our registry with consider
able trouble placed a family, former
Canadian soldier and his wife, in a
four-room cottage which rented for $2a
per month. A day or two alterWard
the renter returned to our Office and
stated that he would like TO share tho
New-York tribune., 1919-04-20
ute, Expert in Real Estate Psychology

of knowledge Of conditions and rare
Judgment as to future development.
Schultz generally is in advance OF every
large movement of population, and
there are those who find hls judgment
so good that they follow IN ms loot
steps. Long before trains are running
in new subways OF on new transit lines
Schultz viii have acquired locations at
the principal points along the routes.
Usually his judgment is justified, but
occasionally, as at the corner OF Lex
ington Avenue and Twenty-third Street.
where the subway plans were \changed
after Schultz had closed lease, he
encounters setback.
Schultc's knowledge of real estate is
not only protection TO himself, but Is
often decided aid to brokers who at
tempt to make deals. For while the
broker may consider the proposition
purely from the real estate point OF
view Schultz applies the merchants
knowledge to the proposition. and gen
orally improves it. For instance, there
are many buildings in New York built
as was the old Chatham and Phoenix
Bank Building, at the corner of Broad
way and John street. Standing at the
intersection of two principal streets,
they have show windows on one thor
oughfarc and n blank wall on the other
1T was Schultz who started practice
of making these corner stores wort =
prac tcaliy twice as much by replacing
the blank wall with show windows
All Details at Hand
Then, also, in making deals Schultz
applies to the fullest extent his great
knowledge Of actual conditions. Every
prominent corner in the city has beer
clocked by his men and Schultz has
right at his finger tips the numbers OF
people who pass a given point during
the course of the day, their character
buying power and all the details made
in an accurate survay. He knows no
only real estate values, names of own
ers and tenants Of properties, but HI
knows also the terms and rates 0.
leases, details of building construction
and probably has worked out plans 70.
the use of property pending its be
ing offered to him. Sometimes
broker is nightly surprised when OF
telling Schultz that three stores cal
be made in building where there i
now one Shuttle replies that it canno
be done because Of the arrangemen
of interior posts And often the broke
is more than pleased when, having com
pleted his story, Schultz tells him o
one or two important features that ad
materially to the proposition 'whic
have been overlooked.
Occasionally a broker who may b
given to that sort of thing tries t
mislead Schultz, but he doesn't ge
far before he finds that he has Sc
lectcd the wrong victim. Then all lie
gotiations are off and Schultz nevc
deals with such man the second timt
he has been known to tear his sig
nature from leases with sub-tcnant
where the sub tenant has eXpresse
himself as dissatisfied, and it is sal
of him that he has never forced
sub tenant who through misfortun
New-York tribune., 1919-04-20
III. u. Williams 10 Lead
In Queens for Bettermcnt
Elected President of Chamber
of Commerce Pledged to Cam;
nniun for Grcnler Omccns

II. T. Williams has been elected 10
lead that rapidly expanding and most
useful body of business men and prop
crty owners. the Chamber Of Commerce
of the Borough OF Queens. The organ.
ization is eight years old. and what II
has accomplished for Queens IN that
short time is remarkable. The cham
Der has become ono Of the most infu-
ontial business and civic organizations
IN the city. c,
The campaign prepared for 1ulhl-
ment this year is even greater thsn
previous programmes. Mr. Williams IS
capable Of carrying it through, how
ever He not only is business mau
bat a real estate man, since ne IS en-
gagged in the mortgage business.
The other officers elected are: wee
president. James L. Clonin; vice-presi
dent. George II. Willcockson; rreasur-.
er, William j. Hamilton. Members O.
the board of directors, whose term eX-
pires in 1922: George J. Ryan, Jonn W.
Rapp, Edward Roche. Charles u. Meyer
and Edward a. MacDougall
The occasion of the election was
known as Get Acquainted Day" wneA
the many new members met and pc
came better acquainted with the oider
members. One hundred and fifty new
members were added to the chamber
during The past wear.
New-York tribune., 1919-04-20
500 Per Square Foot
Lease for Store Space
High Rental To BE Paid by
Orange Juice Firm for Shop
in Times Square

Ncdick's Orange Juice Company has
leased from Joseph LEBLANC for long
term of years part of the store at
1882 Broadway, at the corner of 43rd
Street, formerly Fitzgerald's cafe, at
the entrance to the George NJ. Cohan
theatre, at n rental Of S1O0- per square
foot, said to be the highest price ever
paid in Times Square.
They also leased from the United
States Stores Realty Company the en-
tire corner store at the northwest
corner of 51st Street, also the store at
the Northeast corner of 47th Street and
Broadway, adjoining the entrance of
the Columbia Theatre, also from Wal
ter j. Salmon the store at the north
west corner of Eighth Avenue and 5Sth
Street, formerly Pabsts cafe; from the
Schultz Realty Company the store on
corner of 50th Street, formerly Schulz 8
cafe and restaurant, the store on
Fourth Avenue, adjoining the north
east corner of 33rd Street; from the
White estate the store at 1911 " Broad
way, in the old Weber and Field The
atre block; from the United Cigar
Stores Company the corner store at
gath Street and Fourth Avenue, now
occupied as a cafe; from the Morgan
estate, the store, the second floor and
basement at 1857 Broadway, at the
southwest corner of 27th Street, to be
used as executive office, salesstore and
orange juice plant.
The Nedick's Orange Juice COMPANY
has also an additional store on Surf
Avenue, Coney Island
New-York tribune., 1919-04-20
Bronx Flat and East
Side Property Deal
Norfolk ST. Corner Given for
Apartment in CrcstOn Az.
and I82d st.

Frederick Brown has sold TO Joseph
Rudnsky through Bernard London the
southwest corner of Creston Avenue
and lS2d Street, fivestory apartment
on a plot - by 1l2 feet, irregular.
In exchange the buyer gave the
northwest corner of Broome and Nor
folk Streets, five and half story,
with seven stores. tenement on plot
ii by 7S feet.
Home Street Resale Brings Profit
James j. Donovan has resold for the
Stcbbins Realty and Construction
Company u. Malinc, presidcnt), to
Celia Schlesinger 1902 Home Street
an apartment on a plot 80 by 100 feet
1t was sold by the same brokers to the
sellers last month
Trust Company Sell Property
Horace f. Ely & Co. has sold 1917
Bergen Street, on lot II by 100 feet
for the Farmers Loan and Trust Com
pany to John X. Ryon.
The Crmmins Operating Company
has sold the building at 2Al East Fifty
ninth Street.
New-York tribune., 1919-04-20
Controls Now More Than $50
Properties, Many Of Them at
the Most Important Centres in
This and Other Cities

cottage with another couple. Our ron
rcscr;ative Informed hlm ,Sat sh.
would be very glad 10 find counIo -
share tho house. You can prohah,.
imagine the surprise given our rem.
sentative when the renter stated ,bs,
he wanted $50 per month for ono,hsls
the house when only a day or two N.
fore the registry had located him i,
the cottage at monthly rental O,
but s25.'
One Of several similar cases found
by the committee WAS the leasing Of
furnished apartment -FOUR separate
times within eight months the frs,
time for $1,000, then for $i9 900, Som
thereafter for $1,000 and finally far
$4,000, each new lessee raising rentals
THE committee was assisted in its
worl, by two subcommittee. One of
these subcommittee appraised all real
property and the other appraised pey.
sonal property.
Upward Of 700 cases. the state.
ment says. "were adjusted by the com.
Mittee; 463 cases involved an advance
in rentals totaling $l5o06.65. The saw.
ing to complainants amounted to
S4,1S3.55 per month, or $Ss,2O2.6O per
annum. The average rent saved Der
case per month was S6.SS, or $3.50 per
annum. In four cases rents were ad
vanccd; 157 cases were withdrawn and
forty-tive cases involved matters other
than rentals Many cases of ejectment
were prevented by the committee. Re
pairs to buildings, involving sanitation
cleanliness, heating, etc, were effected
In several cases.
New-York tribune., 1919-04-20

%. A." as his associates know him.
is not a real estate trader Practically
all of his business is done on a leasing
basis and never is done purely in the
sense of a real estate transaction. The
various properties he has acquired
from time to time were taken over
solely for the extension or protection
of his business. That business is the
selling of tobacco in its various forms,
but in the process he has acquired more
than $50 properties, most of which
comprise real estate of the greatest
Importance and highest values in this
and other cities. In fact, Schultz as
a real estate man has grown to such
proportions as to require special
large department of experts to look
after the details of his many holdings.
Schultz is the kind of buyer and
lessee with whom brokers like to deal.
They like his quick action on PROPOSE
tions offered him and they like his re-
liability when once he has entered a
deal. They arc impressed by his won
derful memory of properties, his
knowledge of values and his willing
ness to help them in tight places. All
brokers admit that he has rare judr-
ment, and his associates declare that
he seldom makes a mistake in judg-
New-York tribune., 1919-04-20
lumber Costs Are Upward
Bound, According to Experts
Bolslacyism i'm Europe, Government interference
Here and Higher Operating Cost Chief Causes:
Inefficiency l. Produced by Wage Increase

certain to rise in the next few years
because of the unprecedented demand
which viii come from the recon.
struction of the war stricken regions
OF Europe. The major portion of this
lumber VIII have to be supplied by the
United States and Canada.
Canada already has received an or
der from the British government for
l,O00.000,000 feet Of lumber, while this
country has received orders for 1000
600 feet OF oak from England and
twelve shiploads OF lumber from
italy,
Mr.. Simmons said Russia, which be.
fore the war exported % per cent Of
the worlds lumber supply, would not
be in a position 10 cut lumber until i've
years after the government had been
stabilized and order restored.
Austria and other countries which
exported lumber before the war are IN
similar position" he said, so that
the present burden Of supplying this
commodity Will have to be borne by
the United States and Canada
New-York tribune., 1919-04-20

has been unable to perform the terms
of his contract.
When recently the Schultz real
require special attention. depart
ment in the organization was formed
TO handle it with Arthur s. Meyer,
vice president of tho Schultz concern,
as its mead. and while the real estate
committee presided over by Mr..
Schultz still controls the matter Of
policy the real estate department has
charge Of all properties and it's bust
ness is so extensive now as 20 rival
the parent industry. In handling the
Schultz business Mr.. Meyer is apply
ing the same enterprise that brought
him success and recognition as one Of
the principal property brokers OF the
city n few years ago.
New-York tribune., 1919-04-20
Housing Conditions Growing
Worse in Westchester

Since the armistice the boom in real
estate IN Westchester County has been
increasing, until now it is almost i'm
possible to rent house or an apart
ment in Mount Vernon, New Rochelle
and Yonkers.
Plans have been prepared for the
erection of eight $4,000 houses at
Oakwood Heights, Mount Vernon. Work
has started on an apartment to cost
$l80,000 on the site Of the old residence
Of the late Colonel Mclean Of the Old
Guard at the corner Of Rich Street and
Prospect Avenue, Mount Vernon. 1t is
announced that at least Il score Of big
homes Will be built in the Gedncy Farm
section Of White Plains. while in Yon-
kcrs three big apartment houses are
nov in the course Of construction.
New-York tribune., 1919-04-20
More Stores and Suites
For 5th Avenue District
Senior and Allen Lease 13th ST.
Dwellings From Gerry
Estate

In response to the demand for stores
and living premises in the Fifth Ave
nue. section the two dwellings at 5 and
East Forty eighth Street are to be
made over, with stores on the street
level and apartments above. The
changes are to be made by Walter
Senior and Robert 3. Allen, under the
name of the Sar Realty Company. They
leased the property yesterday from tho
Gerry estate for a long term of years
through the Cruikshank Company. The
Rangley Construction Company has the
contract for making over the houses
George and Edward Blum designed the
alteration.
New-York tribune., 1919-04-20
Investor Buys Large
86th Street Apartment
One of Three Twelve Story
Houses Erected by .hc Same
Builder 3 Years Ago

|. Randolph Jacobs and Everett ia
cobs have sold TO an investor, through
the Frank l.. Fisher Company, the
twelve story apartment house at $40
West Eighty sixth Street, on plot
72x1OO. This is one of the three apart
ment houses erected by Mulliken &
Moellcr on this street three years ago
Marimpol Court Sold
Kurz &. Uren, Inc, in conjunction
with George Costcr, have sold for a
client Of Sydney HickoX 52l and 523
West tod Street, a six story elevator
apartment house, known as Marimpol
Court, on a plot 62.6Xl00.ll.
Buyer for ll6th Street House
J. Goldfarb has sold the six story
elevator apartment house at 227 anC
go West 1l6th Street, on plot l0Xl00
New-York tribune., 1919-04-20
Success as a Merchant Due lin a
Large Measure to Ability to
Foresee Great Movements I'm
Trade and Population

Yorks real estate man? weighty
engaged group cco
q octies
fllg when those
marked: ."yho about Schultc?"
replied "beu real man.
FIRST; "cei, tell he Of
anything
acquires the most actire real
ahead and hc
actions hclp make rco estate
andrket.'
you yght said reN kmown do0noun broker TW
les deal with to-day
New-York tribune., 1919-04-20
Bronx BADLY in Need
Of Manufacturing Space

Bronx. along with the other Dol
oughs, is short on manufacturing
space. ~
According 20 the Bronx Board o. o.
Trade, there are on file at its quarIs,r;'
snd in Offices of real estate men. app,
cations Tor millions of 4luare fee! ..
floor space The boards application, ,,
alone amount to ovey l,0eo,ouo ieee "
space. The Board OF Trade es -iiA'ss"s
tt at in the ESQ Bronx factories nv nv,
going full i ast there are more 'I" .S,s
"A 600 operatives. with a payroll "''
wear to exceed $S1 100000.
New-York tribune., 1919-04-20

obtaining about $4,000 a year less for
the property than Schultz would have
paid them on gross rental basis and
from that part that he did lease,
Schultz has obtained net return of
about $4,000 a year. Meanwhile his
nearby store has no competitor.
Until about two years ago Schultz
New York City. principally downtown
corners and Broadway sites up to
Ninety-first Street. In the interval his
holdings have increased to more than
$50 properties, about thirty of which
are in large cities as far west as ST..
New-York tribune., 1919-04-20
investor Bays Row of
BROOKLYN Apartments

The Realty Trust has sold for the
Artce Realty Corporation fourteen tour
story brick and terra Gotta apsrtmeen,'
houses AZ 1889, 1871. 1345, l3iI, lo9.'
1853, 1859, l4l3, l4l7. l43l, 133'. l'4t'
la35 and 1857 Forty-fourth STREE
fully rented, to Simon Amdur. Tor m
vestment. ard for the Alco buiiolns
Company the one-fanshy semi-de Is.onS 'acnei
brick dwelling IT 2l6f sixty -Seco''
Street 10 Rrucc Babcock.
The Meister Builders have sold 10 :.
Luft 1884 Seventy Street: ~ .
three story cottage, on a plot Sl.oXlVV'
for occupancy.
New-York tribune., 1919-04-20

Louis and as far south as New Orleans.
In such cities as Chicago, Philadelphia,
Washington and Boston he has ac-
quired some of the largest and most
expensive locations and has established
new values in many of these cities. In
greater New York he has taken proper
ty at every principal point. His rentals
run from $50 a month to as high as
$4,000 month for stores, and some of
the property which he has leased en-
tirely runs into figures OF many thou
sands of dollars year.
To carry on such extensive business
requires an almost unlimited fountain
New-York tribune., 1919-04-20
LAWYER BUYS 92d ST. Dwelling

William Z. Roomc & Co. have sold for
the United States Trust Company, as
trustee of the Draper estate, the five
story American basement dwelling.
with elevator, at 40 East Ninety second
Street, The buyer, Harrison Tweed, of
the law firm of TAYLOR, lIumes G. Begg,
will occupy the premises.
New-York tribune., 1919-04-20
German Prisoner for Three
Years Returns TO Realty Worl

Harry G. Martin, son of c. Grayson
Martin, the we'll known Fifth Avenue
real estate operator, has Joined the
organization of Pease & Gilman as a
broker in the private house depart
ment.
Mr.. Martin was in q German prison
for three years. having been captured
in the first battle of Ipres while serv-
ing as a Lieutenant in the British In
telligence Corps. having joined the
British army on August 5, 1914.
New-York tribune., 1919-04-20

the state Legislature and hotel in
tcrcsts on tire other. Controller
Craig is opposed to the plan because
Of the cost
The Public Service Commission holds
title to the Park Avenue block front
from Forty-tirst to Forty second
street. on which stood the Grand
Union Hotel. 1t was purchased for
New-York tribune., 1919-04-20
Brooklyn Garage for Investor

Bulklcy & Horton Company have
sold $50 Sixty eighth Street, recently
constructed a two-story and. cellar
garage for Alfred NJ. Nicholson
to a client for investment.
New-York tribune., 1919-04-20

ing of the subway loop under the prop
erty. connecting the Fourth Avenue
subway tracks with the Lexington Ave
nue. route. The building was old and
it was feared that the lives OF the
subway builders would be endangered
if they attempted to cut under the
hotel.
A bill has been passed quietly by the