davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-05
lax Commissioners Ignore
Hints to Punish Profiteers
Tentative Assessments for Next Year Only 3 Per
Cent Above the Figures for 1918; Federal
Relief Needed for Mortgages

5000 to $3.50, or over 80 per cent. For
the same period new construction
started, in Manhattan, $50 plans for
$55,000,000 against las for $8,000,000,
an increase Of nearly go per cent; in
Brooklyn 7,100 new projects, for $751;
100000, against 2,400 for SIT, 900, an
increase of 800 per cent; in The Bronx
573 new undertakings for $14,000,000
to 165 for $685., 900, an increase Of
800 per cent.
1t is only in the mortgage branch Of
the market that the improvement has
not kept pace with the selling and
building. There has been no money for
large projects of construction, SUCH as
flee and commercial buildings. At the
end of a years inquiries by one investi-
eating committee after another. the
fact is indisputably established that
the building of these classes of build
ings-the class of construction that
calls for large mortgage loans-is held
in bondage by the failure Of the mort
gage market, and that the failure Of
the mortgage market is the direct con-
sequence of the taxation of the income
derived from mortgages by the Federal
and state governments under their in
come tax laws.
Income From Mortgages
The consequences of thus shackling
the great building industry are clearly
stated by Otto Fl. Kahn, of Kuhn, Loeb
& Co., In his recent Memorandum a. to
Certain Aspects of the High Cost of
Living" wherein he says: 1.-THE hous-
ing famine and the resulting hardships
and higher rentals are due, in consider
able part, to the fact that the private
investor, generally speaking, has with
drawn from the field of real estate
mortgages, because they do not yield
him sufficiently attractive return, af-
ter taking into account the income tax. u
The housing famine is steadily grow
ing worse and Congress and the New
York State administration are both in
formed Of the fact that it must con-
tinue to grow worse until the income
tax burden is lifted from the mortgage
market. Other means of relief from
this uneconomic situation have been
sought, but all in vain.
Tax Exemption Claimed
The intern ediary agencies of the
borrowing builder and the mortgage
investor have calculated that if indi-
vldual investors arc permitted to hold
$4,000 worth Of mortgages free of tax
enough new money will come into the
market to enable builders to provide
the housing that is so greatly needed
and that can be provided in no other
way. Accordingly. they arc themselves
supporting and are urging everybody
else to urge upon Congress the enact
ment of the bill now before the Ways
and Means Committee of the House
that was introduced recently by Con-
gresham James C. Mclaughlin. of
Michigan. Congressman Joseph A.
Fordney, also of Michigan, is chairman
Of the Ways and Means Committee and
they ought to be made aware by letters
and petitions from the overburdene ed
tenant class in this city that they can
render no greater or more deserved
service to American families every
where than by promptly putting the
Mclaughlin bill on the statute books.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-05
Plot Buyers at Garden
City Plan Fine Homes
Charles f. Covert and Herman
Lehrenkrauss Having Plans
Prepared for Houses

Charles T. Neergaard, treasurer of
the Kings and Westchester Land Com
pany, and one Of the directors of the
Garden City Development Company,
declares there has been a quick re-
Spouse to the announcement that the
Garden City Development Corporation
had taken over the management, sale
and development of the Garden City
Estates, where twenty-five new houses
are being erected for early occupancy.
Mr.. Neergaard reports the sale of
large plot in Nassau Boulevard, near
the Nassau Boulevard station on the
Hampstead division of the Long Island
Railroad, to Charles Z. Covert, who is
having plans prepared for dutch Co.
lonial residence from designs of George
Gilbert, architect
Herman Lchrenkrauss, of BROOKLYN.
has purchased a large plot, also in
Nassau Boulevard, and is having plans
prepared for large residence.
Mr.. Neergaard said yesterday that a
number of sales arc pending, several of
which involve houses now in the
course of construction.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-05

finish flush with the casing. The tim
would without doub. be smeared over
with plaster to some extent, but it was
proposed to follow the plasterers up,
cleaning off the trim, then applying a
second coat of dark stain, which would
cover up any stained parts, and finally
to apply the band mould, much as
picture mould is put up in a finished
condition. The wood base was also
put up flush with the plaster, and the
band mould extends along the top of
the base and mitering up and around
the doorways. The usual projecting
stool at the windows was omitted.
"A!l exterior walls were furred with
1X2's, l6 inch on centres. Furring
strips were secured by mailing into
the cinder concrete walls.
The entire village at Overlook
Colony Of POI houses was designed by
Il: Enrol Coffin, architect, New York
City. The details on construction Of
the concrete houses, as we'll as the new
method of moulding in steel forms,
was done under my direction"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-05
Ne,U Kind Of Shop More Like Reception
Room Than Business Premise

Eight leases have been executed in
this city by the United Eye Glass
Shops Corporation. This concern in
tends, before January i, to have in
operation at least forty retail stores
in greater New York. The stores so
far leased are at 1890 Broadway, 1921
broadway, 1868 Broadway, 962 Third
Avenue, 667 West 1S1st Street. all in
Manhattan; 1899 Broadway and 57O2
Fifth Avenue, Brooklyn, and, for gem
eral offices, the second and third floors
at III West Thirty-eig Street
Three other stores have been leasel
in the metropolitan district: 334 Wash
ington Street, Hobokcn; 1876 Main
Street, New Rochelle. and one in Port
Chester.
Frederick southack e. Alwyn Ball.
.jr., 1874 Fifth Avenue and II Broadway
have been named by the corporation
its exclusive real estate representa-.
tives.
II. II. Tricc, of Southack & Ball, has
charge of the business of the United
He has recently closed leases for addi-
tional stores in Athol. Mass; Schen-
ectady 125th Street, New York City:
Poughkeepsie, Ossining, Prospect Ave.
nue., New York City, and Yonkers and
mas siAly more locations under cOnSld.
Grafton in Connecticut. Massachusetts
Maine. New Jersey, New York and
Pennsylvania. 1t is the intention Of the
company to have 100 stores by January
1920, and ultimately a store in every
city in the United States x,of 5000 or
more population.
In order to facilitate business for
their clients Southack & Ball will il,
the near future open branch Offices in
Chicago and Atlanta.
The United Eye Glass Shops Cor
poration intends to establish chain
OF optical shops throughout the United
States and proposes ultimately to To-
cate branch in every city of 5000
population or over in the country. The
territory first to be covered includes
New England. New Jersey. Pennsvl-
vana, Delaware and Maryland. and the
concern is looking for desirable ioca
tions in the large cities in these sec.
tons.
AS with some of the other chain
store propositions, uniformity of cx-
ternal appearance characterizes these
eye glass shops. Identical signs arc
being used. The interiors of the stores
arc fixed up in n way altogether diff
fcrent from most shops, inasmuch as
they resemble nicely furnished re
ception rooms. with soft carpets and
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-05
HCOWD EOCy2 PIN
ID ECAUSE of the high cost of many
~ building materials and of the in

ID ECAUSE of the high cost of many
~ building materials and Of the in
ability sometimes to obtain such
materials at any cost, various substi-
tutes for standard materials have been
placed on the market in the last year
or so to help solve the problems of
those who must have buildings for liv-
ing or business purposes. But practi-
cally every attempt TO introduce new
forms of material has met with failure
sooner or later.
In some cases the cost of making the
substitute became so great on account
OF labor charges that the standard ma
terial could be used more chcaply. In
other instances, where real economy
could be practised and a satisfactory
material turned out which could be
used with a saving on construction
labor, union laborcrs spilled the beans
by refusing to work on building where
what they called "scab' material was
employed Hundreds of substitutes for
brick, stone, cement and wood have ap-
peared, both for interior and exterior
use, but most of them have failed to
make even @ slight impression on the
building world.
Old Materials Coming Back
Standard materials still hold the fort,
but the probability of continued
shortage of supplies, with a big build
ing movement trying to get under way,
has caused some materials to be
brought to notice which have lacked
popularity in the past, probably be-
cause they were somewhat more diff
cult to obtain than the materials most
commonly used. So the competition for
designs for dwellings which can be built
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-05

cinder concrete construction at Over
look Colony. Speed of construction
was considered especially necessary in
this housing work. Part of the work
was done in the usual wooden forms.
but the lumber loss and the labor
wasted in making the wood forms
proved this to be an expensive con-
structon. A method of moulding walls
by the use Of steel forms was employed
on this particular group of houses.
The work was done to a large extent
by unskilled labor.
How the Houses We're Built
"Thc steel moulds were set. up on
ing the first course of the concrete
wall. The concrete was mixed about
the consistency Of oatmeal Ten per
cent of hydrated lime by volume Of
cement was added to the concrete
mixture. The concrete was mixed in
the proportion of one part Atlas Port
land cement, 2h parts sand and five
parts of cindcrs. AS soon as the first
lot of moulds were filled it was found
that the first blocks moulded were firm
enough so that the steel plates could be
taken off. These plates were then
moved forward and again set up, max
ing moulds to continue the foundation
walls. AS soon as the first course or
belt of concrete was completed around
the building the plates were again set
up on top Of the first course and sec
ond course of concrete started This
process was continued up, course afte.
course, till the walls reached the height
of the roof plate. When this point was
reached the moulds were taken apart
and ready to be moved to the next job.
"These steel moulds were simple to
operate. The United States govern
ment has utilized unskilled labor to
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-05
Critical Year Coming in
Downtown S pace Situation
Next May Will Find Many Tenants Homeless-C. r.
Noyes Says Problems Will Be Solved in 1921
Through Construction and Buying

There will be tenants Of downtown
space who next May will be without
business shelter unless they look for
accommodations in other neighbor-
hoods, according to Charles T. Moves,
who drew attention yesterday to the
unusual conditions in lower Manhat-
tan real estate resulting from a space
demand greatly in excess of the avail
able supply.
"Our Office alone" Mr.. Moves said,
"has applications for 265, 600 square feet
Of office space south of Fulton Street
that is desired in units of from 5000
to $4,000 square feet, and this demand
is for immediate occupancy. We have
also been commissioned by tenants to
secure $4,000 feet of loft and building
space at rentals varying from rs cents
to rs cents per square foot, and the
most significant fact rejecting the con-
dition Of downtown realty is that our
Office alone has 1877 separate and dis
tinct firms or individuals who have
authorized us to purchase buildings
for their account where they can Sc
cure possession or adequate premises
in the buildings purchased on May
next.
High Prices Paid
"This is the position that we real
estate men downtown find ourselves in
at time when we are just returning
from vacations and at time when we
usually have no demands of this char
acter made upon US. We are meeting
the demand by taking on new men,
'drag-netting' the lower city for build
ings that can be bought, and doing
everything else that it is humanity
possible for US to do 80 as to look out
for this deluge which must be taken
told almost daily Of large sums of
money being paid for leases. Last
week one offer Of $125,O0O cash was
made for one lease; 100000 cash was
paid for second, plus the income tax
of the seller; $45,000 rent was paid to
one of Broadway's optimistic realators
for $21 900 Office; another buyer is
considering the payment of $4,000 for
Office premises now renting at $4,000,
and so the same story goes on day in
and day out, and the ever-increasing
cry and demand in every downtown
real estate Office from clients is for
more space, and invariably this space
must be downtown and possession is
with these conditions facing US
there i every reason to safely pre-
dict that this buying for occupancy
movement will grow with impetus and
develop into greater proportions.
"Hundreds-and this number is adj
visedly used-of corporations and
firms, in size varying from the United
States Steel Corporation and the Sim
clair Oil right down to the $4,000
company, have bought with success and
wisdom, and by purchasing buildings
for occupancy they have solved their
this is the only way that this problem
of additional space can be solved. and
the way I think it will be solved.
Only Solution Is to Buy
III look for this buying movement for
occupancy to become so strong that
through its operation the entire situa-
tion will adjust itself between May /,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-05

Secretary Of the Advisory Council Of
Real Estate Interests
Say "taxes" to the average real es-
tate trader and it makes him see red
ordinarily. The hateful subject came
to the front under scare heads this
week, when the Jacob A. Cantor de-
partment gave out its annual state
ment of the tentative assessment for
next years taxes.
1t shows that the tax department has
avoided, neglected or declined all the
hints or orders (if he went so far) of
Hershfield, the Mayors special hunts
man of "profteers" among the land
lords, to make them disgorgc by a
drastic exercise of the taxing power.
The increase in the gross real estate
assessment of $252,516,459 is seen
to be only 3 per cent above the as
sessment for 1918. That the record
over a long period of years demon
strates an average annual increase in
market value of per cent would seem
to indicate that Commissioner Cantor
and his associates had dealt conserva-
lively, not to say charitably, with the
poor, downtroddcn and oppressed real
estate man.
Owners Are Satisfied
SO far as the assessed valuation is
concerned the real estate interests
will search in vain for grounds of COM
plant. The increase in the assessment
does not begin to approach tho actual
increase in market values that has been
established since the end of the war.
Everybody knows that the market has
been booming, and q little inquiry and
little reflection show that the in
creased assessment has been more than
justified.
Take, for instance, the statistical
table of conveyances in "The Record
and Guide: Those for Manhattan in
the first ten months of last year, DUR
ing which the great war ragged at it's
worst. were as follows: 7o5 for stated
considerations Of $30,057 900, the as
sessed valuation being $685. 900.
Compare that with the record for the
corresponding period of this wear of
peace, to wit: 1920 conveyances for ag-
gregate considerations of $53O96,OOO
the assessed values being S38,516.OOO.
Last year the assessed values were 10
per cent higher than the prices realized =:
this year the prices realized 80 per
cent higher than the assessed values!
OF course, there has been no such ac-
tdai increase in market values as the
- per cent that is indicated by these
figures. But every practical real es-
ts:e man knows that the increase in
the eleven months since the armistice
has been several times the 3 per cent
shown by the new assessment
Big Market Here
The long heralded awakening of the
real estate market is here. In num-
hcr of conveyances for the first ten
months of this year Manhattan shows
1000, an increase Of $500 over the like
rerlod last year, or nearly 60 per cent;
~ brooklyn the figures are $4,000 to
l1.OOOLover 10 per cent; in Tho Bronx
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-05
Deeds Filed in Brooklyn Show
Increasing Demand for Realty

That there is no let-up in real estate
activity in Brooklyn is indicated in the
report of the Registers office of Kings
County for September. 1t showed that
l5,214 papers were recorded in the
month, 6,43S of them being deeds and
6,663 mortgages
1t was one of the largest months
businesses in the history of the office,
the business for the year up to and in
Guiding September 80 showing that
103,465 papers were recorded, more
than double the number filed in the
same period last year.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-05
Rent Scarcity Forcing
Many to Buy in Yonkers
Philip ]. O'Brien Gets Attractive
Dwelling and Morris Place
Corner; Other Sales

Thomas S. Burks has sold for
Frances Clark Dcedmeyer. Of Birming-
ham. Ala, 70 Philip j. O'Brien the
dwelling 46 Morris Street, on the
southeast corner of Morris Place
Yonkers.
Through the same broker Grace E
Ehblom recently bought from Harriet
Lynch the dwelling at AGA Warburton
Avenue, in the Glenwood section Of
Yonkcrs. and has arranged fer the re.
sale of the property to Beatrice Fine, .
tenant. Mr.. Burke also sold for The
estate OF William Bones TO Florence
Eelden, client OF George Schaefer,
the dwelling at il Ludlow Street. and
for Charles Wynn and Harriet Cohen
Of this city, to John A. Marcato, tns
dwelling at 80 Landscape Avenue.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-05
Fine Place for Man Who
Helped Repair Ships
Henry L. Sienund Buys Estate
on Shore of Lake Mahopac-
Once Owned by Tilden
Relative

Robert f. Farley has sold to Henry
L. Sienlund the estate known as Gray
manse, on the shore of Lake Mahopac,
Putnam County, N. Y. The property
consists of about six acres, with front
age on the lake of about $50 feet.
This is improved with a cut stone resi-
dence, stone boathouse, icehouse and
Italian garden. The buildings were
constructed and the place formerly
owned by cousin of Samuel Tilden.
and the house bears q striking re-
semblance to Greystone, the former
estate of Samuel Tilden on the Hudson
River.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-05

fectively how the building problem can
be made less acute. Not long ago the
average man would have scorned the
suggestion that he use stone in the con-
struction of his home, largely because
he could not visualize such a building.
But supported by the work of skilful
architects and backed by the efforts Of
producers of the material, limestone
seems to be in fair way to becoming q
much used material in future home con-
struction.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-05

turned and carved, and still is within
the financial reach Of the average home
builder.
Many plans from leading architects
in all parts of the country were sub
mitted in the contest which closed re-
Gently, and from the great number
three were selected for especial honors.
the three reproduced here. Aside from
the attractiveness of their designs,
they mark decided departure from
ordinary building ideas and show ef-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-05

1920, and May l. 1921. 1t will wo.,
"A is corporation paying a rent.,
OF $4,000 for 10000 square feet y
space in the Broadway or Broad Str.s;
district "A is one of many tenant
with no particular individuality. as ~,
as Office premises are concerned al
buys building in any conveniart
neighborhood that it desires for s,01'
goo: The building is 25xl0o. six storis.
nigh, and either corner or SO locates
that 1t has good front, rear and s;as
light; $4,000 is spent for alteratior"
and. with a new individual front
large private elevator. improved heat.
ing, decorations to suit, and msr,
little rcfinements and conveniences -
finds that the organization is hon.aa
better than ever before. ard has
certain amount of individuality that
was lacking in it's former 'skyscrsns,i
horne. and the improvement made !.
the talk of all his competitors ana
among the trade
"A new premises attract Favorable
comment and others in the same lima
of business follow his lead and .pur
chase for occupancy And this !,
what the rental overhead expense ia,
this new building has cost "A:
Cost of property. 500 ooo
Total cost. ........- $4,000
SIX per cent. .......... $500
laX"S 5000
Cost Of operation, includ-
ing insurance. ..... 5000
Total rental charge. Sls.4Oo, al
S1.64 per square foot. as against seM
per square foot before the change was
made
while I have used a 100000 build.
ing operation to illustrate my point
yet there are dozens OF desirable
buildings available at prices rangina
from $4,000 to $4,000, and in these
cases the rental charge is often re-
duced as low as rs cents square foot
and at IS cents to Sl25 per square
foot purchasers are securing better
Office homes than those for which they
have been accustomed to pay So PEI
square foot and upward.
New Space Coming
"Here is the solution, in my opinion
of our Office housing problem in lower
New York, and incidentally Il buying
movement Of this character is the best
possible development for any neigh
borhood. These properties, once pur-
chased for occupancy, are not offered
for resale, they are not bought on
speculation, and each sale adds to the
value of other property III the neigh.
borhood, and this buying movement
for occupancy, which has now reached
big proportions is certainly gong to
relieve the situation as far Office
building space is concerned.
with new Office buildings such a.
the Cunard Building, offering total
of 5000 square feet OF space; the
Van Valen building. at John and Will.
lam streets, with 100000 feet Of space;
two Maiden Lane buildings, with $780,,
600 feet Of space, and miscellaneous
construction that Will throw about
100000 square feet of space on the
market in 1921, the problem will be
solved and we brokers will then he
handling another branch of our inter.
esting business-the selling OF prop
erty for investment"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-05

at cost not exceeding $4,000, held re-
recently by "The Architectural Review"
for the Indiana Limestone Quarrymen's
Association, has had unusual interest
in many parts of the country
This competition placed limestone for
residential buildings in new light be-
fore the public, for few people know
that an almost unlimited supply of this
good-looking stone exists within a few
hundred miles of New York, stone
that can be easily worked, sawn, plancd,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-05
O'Brien Back i'm Realty Fold

Cushman G. Wakefield, Inc. announce
that Lieutenant Humphrey S. O'Brien.
jr, who prior to the war was con,
nected with the United States Realty
and Improvement Company, has been
associated with them in their brokerage
department..
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-05
Corporation Buys Jersey Houses

Tho Hoffman Homes Corporation has
purchased seven one and two family
houses from the Commutcrs' Realty
Company. at Metuchen. N. j.: also.
hree one-story family houses Mt AIRING,
ton, N. j.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-05
White With Cross & Brown

Julian White has resigned his posi-
ton as renting agent Of tho Tribune
building, and is now connected with
the real estate firm Of Cross & Brown.