The Washington times., 1921-03-19
BUILD NEW HOME
|. FOR STANDARD OIL
Property at II Broadway to Be
Enlarged to Biggest Office
Plant In World.

The Standard Oil Company 10 to have
on lower Broadway. facing Bowling
Green. the largest exclusive business
Larger even than several of the per-
manent business buildings Of the Ma
tional Government in Washington win
be the enlarged 80 Broadway"
known in every part of this bread
world as tho headquarters of the
Standard Oil. John d. Rockefelier's
business creation,
Twenty-seven floors Of offices are
to be built next to the hfteen-story
parent building erected In 1885.
These floors will cover all the block
on Broadway and New street, south
from "26 Broadway" to the north side
Of Beaver street, where It will front
an entire block, ovcrshadowing the
squat and ancient Produce Exchange.
GREAT AREA OF OFFICEs.
When finished. several years hcnca.
500, 900 square feet will have bten
turned over to tho Standard Oil inter
ests for the use of its executives end
its army Of thousands and thousands
of clerks. Every inch of this great
area Of floors will be wanted by the
company. Space Is their crying need.
1t has been their want for the last
few years Business expansion has
been so great that the sides of "28
Broadway" are literally bursting from
the crowding within. Additional
quarters have been set up In most of
the buildings to be removed, which
explains the reason for the long
drawn-out building program, for the
new building Is to be erected piece
meal. The urgent need for this space
would not allow the loss Of more than
a little Of il at a time.
The Standard Oil Company out
maneuvered spectators In purchasing
and leasing the site. Activity was
high last SUMMER. Owners were re-
ceiving bids for property for the first
time In many years. The company
saw the drift OF things, saw also how
great headquarters could be defeat
ed. and the word was given for i'm
mediate action.
I. Newton Lewis. of l.. J. Phillips e.
Co. engineered the deal. He went
out and secured the six parcels. In
February he obtained the Welles
building, next to the Standard Oil
Company property and the largest
parcel in the block. E. E. Smathers.
who had purchased the property only
few months previous from Felix
lsman, re1use0 TO sell, Out wOulo lease
it. A deal was made with Mr.. Smath-
ers for the property for ninety nine
years at a rental of $25O.000 a year.
Next the building at Broadway and
Beaver street was acquired with the
assistance of Mr.. LyonA OF Horace s.
| Ely & Co.
wendell PARCEL LEASE
The five-story building adjoining at
Beaver street could not be pur-
chased. It was q Wendell parcel, and
the axiom of the estate I'VE never
sell" confronted the negotiator. A
lease OF the property the Wendels
would agree to, SO . deal for sixty
three years was arranged. The prop
erty adjoining was acquired from
George F. Lockwood, of New Can aan.
and the Lisbon building. at Beaver
and New streets, was secured in Aug
ust from the McC1ymonds estate,
which Is said to have owned the prop
erty for more than a century.
The completion of the giant struc-
ture will mark the climax of things
for that section Of Bowling Green. as
the steamship interests are contem-
plating the developing OF the opposite
side Of the green and the United
States Government has it's $4,000. 900
Custom House At the south end of the
green.