davidaulloa/AmericanStories huggingface dataset:
The sun., 1919-04-27
Along the Coast
Are Broad Sandy
Beaches - Inland
Are Quaint Old
Towns, Thriving
Cities and Fine
Farms

road are Tenady. Cresski1l. near which
Is Camp NJ rritt, Demarest. Closter and
other attractive villages
In addition to It's many attractive In
land cities, towns and villages. New Jer-
sey has a number of coast resorts whose
beaches, lining the coast from Atlantic
Highlands to Cape May. are world
famed.
Atlantic Highlands is laid out upon
the northerly end OF the lofty headland
known as the Highlands OF Navesinlx.
Here Is the clubhouse Of the Monmouth
County Country Club and numerous
handsome summer residences. The waters
of Sandy Hook Bay afford nna yachting,
while the nearby Shrewsbury River II
the rendezvous Of thousands Of power
and house boats.
Next to Atlantic Highlands comes
ffiltons. devoted exclusively to summer
camps and small bungalows Water
Witch. the scene OF many Of the events
in one of Cooper's novels and the site
OF large number Of summer residences
Highland and Navesink beaches and
Normandie form the northern outposts
OF a long chain OF splendid private
villas. which stretch almost to Point
Pleasant
Ocean and still Water sport.
seabright. like Normandle and Nave
sink Beach. is located between thu
Shrewsbury River and the Atlantic and
offers an opportunity for both ocean
and still water sports At Seabrighs
is the eastern terminus of the Rumson
road. one of the most beautiful high
ways In the country, lined on both sdes
by costly estates and deliberately land.
scaped grounds
After Seabright como Low Moor. Call
lee and Monmouth. then Long Branch,
one OF the Oldest and most famous Of
the Jersey coast resorts and recently
the summer home OF President Wilson.
Elberon. Hollywood and Deal are fur
Their along the coast. as Is Asbury Park.
which has been called the summer
metropolis OF the north coast of New
Jersey. Here are many hotels and sum.
mer cottages as well as q large year
round residential colony.
Both In shore and inland communal.
Ties New Jersey offers so many attrac-
tive places for the homeseeker to choose
that II Is impossible In an article of
This length to even mention the names
" all OF them. Those described have
'een chosen as typical OF the many at
ractive spots which the State has to
Ter to the man or woman who wishes to
lid or buy a home within easy reach
New York yet In an environment
rlille that to be found in the city.
The sun., 1919-04-27

In spite OF the campaign 10 bar apart
ment houses from further encroachments
upon the beauty OF upper Fifth avenue,
which was launched by members OF the
Fifth Avenue Association at meeting
| held IN the Bankers Club a few days
| ago. those In charge OF the proposed
erection OF two lofty apartment buildings
on the avenue Of the Allies above
Fifty-ninth street are determined to
go ahead with their plans, They assert
that the objections urged by the mem
bers OF the association are groundless
and that tho erection OF tho proposed
buildings will not be halted
The two projected structures are
planned for the southeast corner OF
Fifth avenue and Sixty-sIxth street and
the northeast corner of Fifth avenue and
Seventy second street The former will
adjoin the Aston family mansion. on the
northeast corner OF the avenue and
Sixty-fifth street
This structure is to be twelve stories
and of approximations type. and will in
volve the outlay OF over 100000, 1t
is to be erected on the property owned
by the estate OF the late Grant b. Schley
and was designed to outstr.p anything
OF its kind ever before attempted in the
city
Tho building planned for the Seventy
second street corner will also be the last
word in luxury. It is to be erected by a
syndicate and It's apartments arc eX-
pected to rent for $4,000 a year.
Campaign Fails to Halt Plans.
Frederick h. French, head OF tho
tects and builders, who are to erect tho
apartment building at Seventy-second
street and the avenue, declared that
he was going ahead with the plans for
the building and that he did not antici-
pate that there would DO any obstacles
which would prevent the erection OF the
apartment house as per schedule. Con-
struction. he said. would start as soon
as the final details were added TO the
plans
Il realize" said Mr.. French. that
the private residences along Fifth ave-
nue. are beauthers OF the city, and
am aware that this is the only section
of the city not invaded by apartment
houses TO any great extent. / also
realize that It Is impossible to make
apartment houses beautiful. Their shape,
slzo and number OF windows required
preclude this. but the day has passed
when private individuals can monopo-
The sun., 1919-04-27
HIGH BUILDINGS ON
FIFTH AVE. DEFENDED
Architect Declares Day Has Passed
When Private Dwellings Could
Monopolize Thoroughfare.

lie this beautiful avenue for private
dwellings,
Beautiful as many of the private
residences along Fifth avenue are. they
are doomed because they are relics Of
oygone day. Many Of them, by the
way. are closed during two-thirds Of
the year and the only persons to beneft
by the wonderful vistas which Central
Park affords are occasional caro-
takers"
Mr.. French added that no believed
that the contention which had been made
that the erection OF apartment houses
would depreciate the value OF adjoining
property was not well founded While
their erection may tend to impair tho
beauty Of adjoining property the fnan-
r'ai value Of adjoining property will be
enhanced rather than injured. he main.
tains This he added has been the casa
wherever costly apartments have been
put up
Former Crusadea Futile.
AT the offices OF J. e. r. Carpentse
architect OF the projected apartment
building planned to adJoin the Aston
mansion. II was said that the campaign
being waged by members OF the Fifth
Avenue Association to restrict tha
height OF future buildings TO be erected
IN the territory bounded nv Firth and
Madison avenues and Sixteth ana
Ntnety-ninth streets to rs feet had NOT
altered the plans for the proposed apart
mcnt house at Sixty-sixth street In the
slightest
There have been agltations like this
In the past" II was said. land nothing
came OF them"
The committee headed by Michael
l're.cHr. and numbering among its menu
beers, w T.. S. Gr!swold William Salo-
mon, Frank Il. WELLER and Judge Gary.
which was appointed at the meeting at
the Bankers Club, has been unceasinR
In its efforts TO arouse public sentiment
against the erection OF apartment build
inGs over rs feet on tho avenue, In the
hope Of influencing the Board OF Esti.
mate thereby to pass the desired restrio-
tions.
Those opposed TO tho erection OF tan
buildings in tho section OF Fifth ava.
nue. above Sixtieth street daclare thas
II Is an outrage that the city should all
low one OF its most famous thorough
fares TO be defaced by apartment build
.ngs erected for private profit and re-
CARELESS of the traditions and native
pride OF the city. They asert that the
matter Is one In which every New York;
err, regardless OF the location Of his own
residence. should be interested
Advocates OF restricted building
zone point out the fact that the beauty
OF the famous avenues and boulevards
OF Europe has been preserved by rigidly
enforcing building restrictions reEulat-
ing the heights OF buildings facing prom-
inent thoroughfares, They declare that
European would regard as almost a
sacrilege the erection OF tall apart
ment building on any OF the noted boule-
wards OF the Old World. and that ths
citizens OF New York should have an
equal pride In preserving the beauty a
a street famous all over the tsorid.
The sun., 1919-04-27
PRIVATE CAPITAL TO
FINANCE BUILDING
Lending Companies Not in Position
to Make Big Loans---Money to Be
Had for Smaller Ventures

The president of one OF the largest
companies that specialize in loans on
building mortgages told THE SUN last
week that builders can obtain loans upon
propositions calling for an expenditure
OF not more than 100000.
The lending institutions are not In a
position to make big ioans." he said.
Such mortgages cannot be handled. 1t
Is absolutely necessary for builders to
put more capital into their projects than
IN years past. This situation is bound
TO last during the readJustment period.
What the effect OF the Liberty Loan cam
paign will be nobody knows.
1.-THE attitude of the lending institu-
tons is that they are not going to make
loans commensurate with the increased
cost OF building. Take the situation of
O new building put up now as a dupli-
cate of building next door. The new
building costs much more. but II the loan
Is increased in proportion the owner OF
the older structure may look for higher
appraisal OF his building.
Nevertheless. builders with sufficient
capital and projected improvements in
good neighborhoods will be helped In
financing their operations up to $780,
0oo."
Insurance companies and other con-
Germs that have financed big building
enterprises in the past have been hard
hit by the various Liberty Loan cam
paigns. Sums which some OF the lead
ing insurance companies have SUBJ
scribed are actually staggering. and the
Government has indicated that they Will
he expected to duplicate these subscrip-
tons IL possible during the present drive.
The loan companies incomes will thus
he tied up for some time to come, and
viii not be available for building loans
10 any great extent
Offers Possible Solution.
A possible solution OF this situation
has been suggested by Abram l. Elkus.
chairman of the Governors Reconstruc-
-tion Commission. which Is investigating
the renting situation. Mr.. Elkus. 1t Is
understood. has proposed that immediate
building operations on an extensive scale
be started to relieve the housing situa-
tlon, and that the capital for these OPP
erations be furnished by public spirited
flnanciers. 1t Is intimated that capital
for a number of apartment houses has
already been pledged by certain men
connected with the present renting in
curry and by their friends and business
associates. One Of the means b. which
the problem will be simplified. 1t Is said.
involves the erection of new type OF
apartment house which will result even
IN these days OF high priced material
IN reduced costs of construction and
Increased returns TO the investor.
one architects plan. in which the
housing committee was greatly inter-
ested. called for designs OF houses win
three. four and ive room apartments
which couId,s,e rented. IL built In Queens
The Bronx and other outlying districts
az from 500 TO s125 per room per year
Such apartments could be built IN Man
haitian, 1t was said, at cost wnicn
The sun., 1919-04-27
PASSING OF COBWEB HALL.
Old saloon VIII Soon Step Aside
For Business Building.

Old cobweb Hall. once tho gathering
place OF politicians. will soon be a me-
mory, for the new owners of the build
Ing at so Duane street in which the
famous drinking place is located. arc
about to demolish tho present etruc-
ture and erect in its place q modern
flreproof building.
The property was recently sold At
auction by Joseph p. Day to Albert G.
Mario. who in turn disposed OF II to
r. A. Stewart e Co.. makers OF rubber
and metal stamps, who will erect the
new building for the manufacture. stor-
age and sale OF their goods. The prop
erty has a frontage OF 165 feet on
Broadway and 25 feet on Duane street
and Manhattan Alley. A. IT. Matthew's
negotiated the sale TO tho Stewart Com
pany. which 10 at present located at
so1 Broadway.
The sun., 1919-04-27

duced in the Senate by Senator Boylar
and In the Assembly by Henry 4. Seesel-
| berg. The bill now before the Mayor
| Is a Modification Of that measure.
The legislative Committee on Tax.
aton," the board adds, has been con.
tinued with especial instructions to take
up the subject OF limiting the extrava.
gance of government. both State ant
municipal. It will sit during the bal
ancc OF the year and WI. report to the
next Legislature. The effect OF the pas,
domestic corporations will be to make
good the loss of excise moneys.
Outlook Reassurins.
"Other measures becoming effective
this year such as the increased auto
mobile tax, the Increase In the taxes on
direct Inheritance. will keep the tax for
1920 at least as low as this year. Next
year the income tax law goes into ef-
feot, and if our estimate OF return from
this source Is correct the tax rate for
1921 for Greater New York will not
exceed 2 per cent
Investors can therefore accurately
determine that the tax rate In this city
will, never again exceed 2.25. and will
In all probability be very much less
The new taxes upon Incomes will be
chiefly instrumental in saving real es-
tate from shouldering the lions share
OF the States expenses according to
the Advisory Council of Real Estate
Interests. Except for these taxes the
council contends. further and excess
sive levy upon real property would have
been essential
THE personal income tax" declares
the statement issued by tho Council.
was advocated by the Advisory Council
rs the most feasible and the only
means for providing adequate revenue
an equitable manner. The law fol-
'ows the general lines of the United
States income tax In Its base and the
kind OF reports required. II applies
the entire net income Of residents Of
hs State and to the income of non-res-
dents from sources in the State. The
'Rtes are l. 2 and per cent, respect
ively for incomes between the minimum
exemption and $4,000. between $4,000
and $4,000. and over $4,000. In this
the law adopts the recommendation
against exemptions which was made by
the committee on model plan OF the Ma
tional Tax Association,
I'VE fail to sea the force OF the state
ment that this will drive wealth from
New York. The levy 10 not sufficient to
affect tho recognized advantages Of New
York in industry and commerce. and the
cost of government is imposed by this
law upon the net earnings earned or I'M
earned IN this State regardless of
whether or not the recipient Is a resi-
dent of the State. Liquid capital Ia
exempted In either case. so that our
bunk resources should not be diminished.
A Long step Forward.
Summarizing, we are OF the opinion
that the State Of New York has shaken
locse from its policy Of indirect taxes
The sun., 1919-04-27

would permit rentals at tho rate Of s125
per room per year and return q profit
OF per cent. to the investor.
While It has been suggested that
wealthy individuals furnish the capital
for building enterprises from semi
philanthropic motives. most real estate
men resent the idea that humanitarian
consideration need enter into the ques-
ton at all. They assert that at the
present time any one may finance build
Ing operations on a purely business basis
and be assured Of profitable invest
ment.
II is pointed out that private investors
will meet with absolutely no opposition
from the professional loaning companies,
as the later are temporarily out OF the
mortgage loan market and by the
time they are ready to again enter the
Held the building operations In this
country will of necessity be SO tremen-
dous that there will be plenty of room
for all lenders
BETTER to Build Than to Wait.
An optimistic view of the present
situation Is taken by s. w. Stratus OF the
Arm of S. w. Straus q Co.. who urges
the immediate resumption OF building.
He says:
New construction work throughout
the country Is still below normal and
housing conditions are daily becoming
more acute. While doubt Is expressed
with regard to the ultimate solution Of
price problems, belief Is becoming more
general in building circles that costs
will remain at present levels with
tendency to go higher. This is unmis-
takably the situation with regard TO
labor, which Is by far the most i'm
portant element.
From the standpoint OF sound busi-
ness It Is more prudent to build now
than to await the uncertainties, probable
higher cost and the more restricted labor
market OF the future. 1t Is. moreover.
a matter OF splendid patriotism and pub
lie service to lend all possible help in
the present crisis
Build row, Is slogan that should
he accepted by every BUSINESS interest
that con in any way promote activities
~ his great Industry.
THE construction tasks that lie ahead
OF the country are prodigious. A con-
crete example may be found In New
York city. Taking into consideration
the present building shortage In tho
nations metropolis and the city's nat
ural growth in population, 1t will be nee
essary to erect as many buildings with
In the next nve years as now exist In
st. Louis and Kansas City combined.
or in the entire State OF Nebraska.
'In Philadelphia. Detroit. Washing
ton. Pittsburg and many OF the smaller
manufacturing cities OF Massachusetts,
New York and Pennsylvania conditions
are more acute than In New York city.
Building viii Abate Rents.
with such an abnormal situation
there can be but ose natural result:
continually higher rents for all kinds
The sun., 1919-04-27
REALTY MEN ELATED
OVER NEW TAX LAWS
Believe They Will Usher In Period of
Unprecedented Activity and
Solve Housing Problem

Statements issued by both the Real
Estate Board OF New York and the
Advisory Council OF RearEstate Interests
mirror tho general satisfaction felt by
realty men over the new State tax laws
Predictions are freely made that the re-
form measures will pave tho way to a
period OF activity such as the real estate
market has never before experienced.
The beneficial influences. the prophets
contend, will extend far beyond the
pale OF professional real estate circles.
Millions OF dollars will flow into the
loaning markets for building purposes
and will automatically solve the housing
shortage. which IS becoming more and
more distressful to tenants.
The Real Estate Board bases most OF
its optimism on the present status OF
the bill introduced by Senator John
Boylan allowing New York city to limit
its rate on real estate to 2.25 per cent.
.rovided Mayor Hylan approves the
Measure. This bill was passed through
he legislative purgatory and now waits
the signature Of the Mayor.
Thinks Bill VIII BE signed.
Tho Governor favored the BILL" says
the Real Estate Board In Its statement.
land sent n special message urging Its
passage. The bill is now in the hands
Of the Mayor and will. 1t Is believed. be
signed. The Mayors own committee on
taxation favors II. The ultimate re-
suit OF It's enactment into law cannot
at first be appreciated. stephen II.
Tying. president OF the board Laurence
Mcguire. Robert T.. Bowling and other
prominent real estate men believe II
will mark the commencement OF the
most successful era In the history of
New York citys real estate. Millions
OF dollars will be available for build
ing, the housing situation will be taken
care OF and millions will be added an
nually to the city's assessment rolls.
''The realty interests OF the city are
to be congratulated on the adoption OF
the principle OF a fixed tax Hereto
fore real estate has been the elastic
producer OF revenue. Every other form
of property had a fixed rate beyond
which It could not be taxed. Extrav-
agance and waste could only be re-
fiected in the tax ON real estate.
CITY Taxes Have Climbed.
TN thirteen years the tax on atty
the city Of New York the rate increased
, fifty-six points or over 30 per cent The
investor. not knowing where this would
stop, hesitated and finally stopped buy
Ing real property and the market ba-
came stagnant and dead. Real estate.
instead Of being the best asset, became
the poorest; In fact, a liability rather
than an asset"
This deplorable situation. the state
ment goes on to say, prompted Mr..
Bowling. chairman of the Reai Estate
Boards legislative committee. TO have
the limitation bill drawn up In the
original form inswhich It was first intro
The sun., 1919-04-27

OF hundreds Of years OF traditions lend
a distinct charm to this town.
The city Of Elizabeth is the seat OF
Union county. 1t enjoys excellent trans
portation facilities and can be reached
from the downtown terminal of the New
Jersey Central In less than half an hour.
About twenty-four miles from Man
haitian is PlainAeld. flanked on the north
md west by the beautiful Watching
Mountains, which shelter 1t from the hot
inland winds In summer and the bliz-
The sun., 1919-04-27

Of property While rents already have
advanced to unprecedented levels. moth
irg can stop this upward tendency ex-
ceI ting tremendous building activities.
Relief from the present housing shortage
Is absolutely necessary to he continued
development OF the nation. the solution
Of our economic problems aad tho elm
ination Of social unrest.
Conditions such as now exist will
lower the general standard OF living,
which should. on the contrary, contin-
ually be improving. While numerous
legislative and paternalistic remedies
have been suggested. II Is doubtful
whether any relief can be secured
through artificial means for the reason
that efforts to regulate the building in
dustry will tend to intimidate or dis
courage capital and cause It to seek
other channels Of investment
with the moro general adoption Of
amortization continually increasing
amount OF financial assistance will be
Forthcoming. There Is ample capital in
the country to take care OF building need
and many institutions arc showing their
faith In the future Of the industry by
making extensive loans now. Their ex-
ample will be followed by others as the
process OF mental stabilization becomes
more widespread. The general outlook
ior realty conditions may therefore be
viewed with optimism. for there are no
fundamental conditions that do not indi-
cate tremendous building activities and
tho substantial growth of American
cities for many years to come"
Good News From Suburbs.
Prospects for building in tho suburbs
took on a more favorable appearance
this week. Builders reported a rush of
inquiries from apartment jewellers who
have been investigating sites in the
country and are ready to consider pay
Ing the increased cost OF building There
Is no question that land can be pur-
chased as cheaply as at any time dur
Ing the past ten years, and that peo-
pie with resources OF at least $4,000 or
$4,000 can acquire comfortable homes
within convenient committing distance.
L. L. Sayres OF the Macarthur Bros
Company said that his firm is so busy
that It cannot keep up with designs and
estimates. He estimated that $1,000. 900
is involved in plans for immediate build
ing.
The Macarthur Company Is preparing
TO build houses in groups for big specu-
lators. Single houses will be built to sell
at from $4,000 to $4,000. The de-
vebpments arc at Manhattan Beach.
Flushing. New Rochelle. Jamaica and
Ridgeheld. N. J.
The sun., 1919-04-27

yards of winter. Piaintield is indie bted
TO the wisdom and forethought of the
men who planned il. In no way have
the two distinctive sections OF the city
the residential and the manufacturing
been allowed to clash. and the beauties
of Its residential streets with their fine
old shade trees and vistas OF green
lawns have not been married by COM
merce.
Probably in no city in the State Is
there greater activity In club life than
The sun., 1919-04-27

IN Plainfield. Among Its organizations
ire the Plainfeld Country Club. the
Watching Hunt Club and the Altomo-
bile Club.
Ridgewood. twenty-one miles from
New York on the Eric Railroad. is n
purely residential community OF the
highest type. Its high elevation. pure
and healthful air. as we'll as It's ma
cadamlzed and we'll shaded roads and
the beautiful drives and picturesque
scenery, make II an ideal community for