The Birmingham age-herald., 1920-06-15

head charges or incidental expenses, shall be paid by the Standard oil people. The lessee receives $250,C00 a year, and out of that will come no other charges than those due to the federal and state income tax.
 A NINETY-NINE YEAR LEASE
 A leasenoid winch extends nearly through century is practically equiva- lent to ownership of title Some long leaseholds have been executed within the past three or four years but so far as known none that extend within one year of century excepting this one
 Presumably the Standard oil Compa- nies will demolish the Wells building and upon the land erect a cloud-touching building adjoining 2s Broadway and made part of it. and this will he known. together with 26 Broadway. as the Rockefeller building. Thereby some memorial of the relation of John D. Rockefeller to the Standard Oil proper ties will be established. In the building when completed the Rockefeller Founda- ton, with the many millions at it's com mand. will secure adequate rooms
 THE BANKS IN REAL ESTATE
 This venture of the Standard Oil Com panies may be compared with some which have been undertaken by two or three of the larger banks of New York recently. The marble building which was known as Sherry's on Fifth avenue block or two above Forty-second street, is now within the control of the Guar anty Trust Company. It is an uptown branch but is already spoken of as one of the wonders of New York well worth seeing by those that visit this city. The banking floor is sumptuous. luxurious. imposing in it's arrangements and in it's architecture. There is none other in the city that can compare with it. although the home of the National City Bank. which is in the building formerly occu- pied by the United States custom author ities. is imposing and attracts the eye by reason of an Egyptian grandeur But it is not glittering, superb specimen of what interior decoration can be made to do as Is the case with the Guaranty Trust Company's branch institution.
 Already comment has been made in this column upon the purchase by the Ma tional City Bank of one of the ultra fashionable hotels on Forty-second street Not yet a full purchase. for the title of the land has not passed, but such pur- |chase as the ownership of a long lease payment for which amounts to S500009 a. year represents. When the changes are made the presumption is that this up- town institution or branch will match in the splendor of it's interior decoration those which have made the Guaranty's $ Trust Companys bank conspicuous. Of a sudden, however, there seems to come hitch. A club, the members of which are for the most part associated with railroad management both here and elsewhere has a longtime lease of the upper floors of the Manhattan hotel There must be purchase of this lease and that might be arranged provided suit able accommodations for the club could be found nearby C1ubrooms in the Bilt- more hotel have been offered but they appear to be not satisfactory to the directors of this club However, pre- srmably satisfactory negotiations will be speedily completed and within year the uptown branch of the National City Bank will be spoken of as comparing in splendor with that of the Guaranty Trust Company