davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1921-03-06
VII This Pr0ue To. Be Panuceu
For Local Building Shortnee?

Be Ordained Aldermen of the City of New
York, follows
section l. Pursuant and
Section of the law of the
was added by Chapter 949 of the Of
amend the tax law relation
new buildings planned for dwelling hereby
mined that until January City New
ork Planned tor dwelling exclusively
be exempt from taxation herein provided,
than assessments for local
long used intended be used dwelling
o~eng purposes above the ground floor provided
completed April 1920,
tion be commenced before completion for
Paney be effected within after such
such took
Sec < 1t further ordained that
to the extent only of thousand
Guiding the kitchens but including the SUCH
ouong provided that the total
exceed for coming within the terms of III.
statute five thousand dollars the building and for
thousand dollars of the of the building
tamly within the of
building equivalent five
therein ncontain
proval by the Board of Estimate nd Apooro-ment
New-York tribune., 1921-03-06
Concentrate Little
More on Invest0rs

This is an investors market-it
is active and passive. By this is
meant that many concerns are dick
ering for places and many are
strongly inclined to buy. This is
true not only of corporation buy
css, but individual investors as we'll.
There are many potential buyers.
These are the views of expert real
estate men in the business and resi-
Dental property fields. If not to-
day then perhaps tomorrow or the
day after, is tho way one broker de-
scribed these prospectivcs. He said
that business men have Informed
him that they would buy, but that
nothing that interested them had
been offered. They indicated, he
said, that they had not been aroused
to action. For this reason it might
be we'll for brokers to give little
attention to investing clients. Study
once more your prospects. With
out doubt there is an individual or a
concern in your district who is a
potential buyer. who has been think
ing of and on about purchasing but
has not bothered to do more than
think occasionally about 1t. He can
be developed, he can be interested
in business building. an apart
ment house, city home or coun-
try place. The best judges of the
market say that the potential buy
ing force Is not the spcculator but
he investor. General business has
;,ot been bad.
New-York tribune., 1921-03-06
City's Subsidy viii Bring
Builders Into Acti0n Aoni,,
Moderate-Priced Homes Suburban Land Hold
Out Best lnducement to Them, According to
+. A. MacDougall; Queens Most Active Field

some very substantial reduction in the
cost of skilled labor in the building
trades 'e
When building starts there will be
need for more labor than there is
available, and under those circum-
stances it would not seem reasonable
to assume that skilled labor in the
building trades would be willing to ac-
cept very great reduction in their
rate, or at least not less than the
wages that prevailed in 1919.
The city Of New York, in encourage
ing home ownership by tax exemption.
encourages new building. This will
natu fally increase its income and the
increment TO land, as result of an
active building market
institutions Should Encourage Building
Second d The savings institutions
should make mortgage loans on rea-
sonable value, so that builders can be
encouraged to do everything within
their power to provide housing, that
certain of our city and state officials
Will not be justified in their continual
housing.
Third-It is certainly necessary to
provide new housing at once, so that
there can be no requirement for the
reenactment ofe the restrictive rent
laws, and If the public can be induced
to buy their homes or apartments in
stead of paying abnormal rentals due
to the scarcity of living accommoda-
tlons, the tax exemption law is more
than justified
Alderman Ferrand seemed much con-
cerned that the benefit of the exemp-
ton might accrue to the builder. The
pest evidence that such is not the case
is the fact that the purchasers of
apartments at jackson Heights in
buildings completed since April /, 1920.
will receive the entire benefit in saw
ing Of taxes. 1t will reduce their
monthly rental or fixed charges $40 per
month on five-room apartment and in
ten years will provide saving to the
tenant-owner of $1,425. This saving
will also apply to some $50 tenant
owners who purchase apartments in the
buildings just being completed. Every
dollar of saving from taxes will 20 to
the benefit of the tenant-owner and not
a. single dollar will be capitalized in
the. sales price of the buildings.
We have filed plans for eight apart
ment buildings, each having a frontage
OF 120 feet; the entire operation to
comprise q complete block and will ac-
commodate 128 families; eight apart
ment buildings with frontage of from
65 feet to IS feet, to accommodate Ga
families, or with total Of 1872 families
in all.
The Metropolitan Life Insurance
Company has offered us mortgage
loans aggregating $4,000 on these
buildings and we have already pur-
chased q large amount of material for
these operations.
New-York tribune., 1921-03-06
George j. Engel TO Have
Nezv Home IN 74th ST.

Among the new dwellings, which Will
be completed at an early date in the
residential district east of Central Park
IS that for George J. Engel, at II East
Seventy-fourth Street 1t will be five
stories high
Joseph Il. treediander, who designed
the building, says that the arrange
ment of the entrance Qoor plan in
cludes vestibule, a main foyer with
ladles' dressing room, lavatory and
mems coat room. The floor of the
foyer is done in Belgian black and
Whlte marble and the walls are pam
eled. Il circular staircase leading to
the main and third floors is the prin-
cipai feature of the house
On the main floor drawing room.
music room and dining room are de-
signed so as to provide an uninterrupt-
ed vista throughout the entire length
o. the house. Easement doors give ac-
cess to the iron balconies on the main
FACADE.
The library, main bedroom. bath.
cfesslng room and a circular boudoir
'are located on the third floor. A bal
cony is arranged off the bedroom in the
rear. The fourth floor contains three
master bedrooms. two baths and :
large linen room.
On the top floor provision is made
10. three maids and buffers rooms,
chiidren's playroom, sewing room<serv-
ants bath and cedar closet. An out-of-
door nlayroom is to be located on the
roof>of the extension.
New-York tribune., 1921-03-06
roadway Standard Oil World Largest
Building Of Great Height and Proportion TO Be Added
Home Office OF john ID. Rockefeer's Company Facing
Bowling Green; New Structure and Old Will Provide
Six Blocks of Space for Offices

building" How many millions Stand
ard Oil officials are not willing to say
1t would be difficult indeed to estimate
closely what this giant improvement
will cost the company. The bill will
total we'll in the millions and it will
be regular item of cost for the next
nincty-ninc years, for part of the site
could not be bought and had to be
leased. But whether the price is this
amount or that amount does not con-
Germ the owners so much as getting
the building up.
go Broadway" Is Too Small
Space is their crying need. 1t has
been their want for the last few years.
that the sides of "26 Broadway" are
literally bursting from tkc crowding
within. Additional quartet have been
set up in most of the buildings to be
removed, which explains the reason
for the long drawn-out building pro-
gram. for the new building is to be
erected piecemeal. The urgent need
fo: this space would not allow the
loss of more than a little of it at
a time.
The Lisbon Building. at the corner
OF Beaver and New streets, and the
Beaver Street end of the Welles
>~NAAN 90 81 W IL oSY tiiS SltS VI Gue HISL
unit of the big structure. The Lisbon
building has been removed and ,ca
sons arc not BEING sunk from 30 TO- 40
,ect in bed rock on which the b1i din y
N.ll rest.
When this unit has been completed
the Welles Building, at 1s broadway,
next to the old Standard Oil Building,
will be carried off in pieces, and the
site built upon. The new tbuilding will
reach its greatest height at this point,
The The fro, fr0nt of + the he old "sS' Broadway"
facade will be erected to correspond
With the Renaissance building, which
Carrere 4 Hastings, architects, and
Shreve, Lamb & Blake, associate
architects. have designed.
The Broadway and Beaver Street COR
ner building wlo oc the last to 60 1t
will be removed likely when the struc-
ture on the Wellcs Building site has
been completed. This depends, O..
course on tho space needs Of the Stand
ard Oil Company If they are adc-
New-York tribune., 1921-03-06
Active Trading
In Private Houses
I'm Many Sections
Mrs. Cenevieve Mosher Sells
Home OH Lower Riverside
Drive to an Investor:
Sale of Other Dwellings

L.. Covert sold for Mrs. Genev;evc
Mosher 63 Riverside Drive, four-storv
residence. to s. Pakas.
l.. j. Phillips & Co. sold for Clara
Pouchtwanger 6 West Seyentieth
Street, a fvc-story dwelling 2lx1o05
The purchaser, after extensive altera.
tfons, will occupy. W
Duross Company sold for Harris
Liftin the three story DWELLING o6o
West Twenty fourth Street. lot 16.Sy
989
Everett NJ. Seixas Company sold for
William Sauer and Emil Lang 4O5 East
Flfty-eighth Street, ~three-storv
dwelling, lot 183x10O.5, to Edward
Ellsner, who intends to make extensive
alterations.
Alce !. Smoot resold to Caroline S.
Hlne the four-story dwelling a06 West
Seventy-e ighth Street, 239x10O.
DuH O. Conger, Inc, sold the four
story Twenty-Five foot dwelling at 1856
East Eighty Street for the
Mary r. Walsh estate, w. j. Amend
executor, to Mrs. C. H. Plumbridee
who will remodel it into a model
Kitchen.
The Hudson P. Rose Company resold
TO Francesca Sinegra the four-story
dwelling III 1o3d Street, 17.6x5o,11.
Leonard WE'LL resold to Valencia
DraXton, the four-story dwelling at
l3 West 129th Street, 2Ox1OO.
james H. Cruikshank resold to
Frederick Adhous, SO West 13oth
Street, ee-story dwelling, 25x10O.
George A: Fleming was the broker.
Llhe Haggstrom- Callen Company
soId tor Joseph M. Mackey the three
story dwelling 20 East i31st Street
to Aaron Weiss, who has given in part
exchange the tive-story apartment 1853
West Sixty sixth Street, recently sold
by the same brokers.
New-York tribune., 1921-03-06

quately met by the structure completed
up to that time the Broad and Beaver
streets building will be left standing
to serve as Il light and air shaft until
Che company needs more offices.
Architecturally, it will be monu-
mental structuxe of height atd massive
detail and construction.
MIR. Hastings described the building
as being of buff Indiana limestone, in
the style ii the Italian Renaissance
freely adapted to meet. modern condi-
tions. Its appearance will convey great
strength and solidity. The first three
stories will be treated with heavy rus
tications, the great mass of the build
ground or entrance floor, with set
back at the tenth floor on Beaver and
New streets, as is required by the zon-
ings law.
Above this, over the central portion
OF the building, will be a great tower,
twelve stories higher, surmounted by
colonnade with pyramidal roof and
nnlal composed of fourteen allegorical
figures. The top of this final will be
about 4so feet above the street.
Vaulted Entrance Forty Feet High
Included with this proposed addition
1t is contemplated that the entire front
wall Of the present building, at 2e
b. BroSadway, Sly shall be replaced by one
which will civc frontage on Broad
way o. more than 27L feet. The main
entrance to the building will be about
midway in the FACADE on Broadway,
and will lead to an imposing vaultcd
hall about 40 feet high, giving access
TO the elevators and leading on through
to New Street There will also be a
secondary entrance from Beaver Street
leading directly into the main hall.
The floor heights Of the new build
ing IN "a are carried through to line up with
munication will be had at ali floors.
giving room for expansion Of all de-
paTtments, as may be needed.
There will be nineteen elevators of
high speed type designed to take
care Of the traffic of both the old and
[ae S,. ne new building; the space occupied
py the elevators in the old building
will be used for offices. ''N'"s
On the twenty third floor will ho
New-York tribune., 1921-03-06

TIE Standard OIL Company IS TO have
on lower Broadway, facing Bowling
Green. the largest exclusive business
home of any conccrp in the world.
Larger even than several of the perma-
nent business buildings of the national
government in Washington, will be
the enlarged "2e Broadway" known il"
every part of this broad world as tile
headquarters OF the Standard Oil, John
d. Rockcfeller's business creation
= Twenty-seven floors of Offices ars to
be built next to the. ifteen-sfcry
parent building erected n 1885, These
floors will cover all the block on Broad
way and New Street, south from "26
Broadway to the north side of Beaver
Street. where it will front an entire
block. overshadowing the squat and
ancient Produce Exchange.
Great Area of Offices
When finished, several years hence,
100000 square feet will have been
turned over to the Standard Oil in
tercsts for the use of its executives
and its army of thousands land, thou
sands of clerks Every inch OF this
rssat area of floors will be wanted by
Tie company. What is 'hc "aace o
.fNca0 square feet may be illustrated
ly f,.curatirciy taking down el,c struc-
ture and placing each floor by each on
level starting, say, at Forty-sccond
Street.
1t would take six and one-quarter
such blocks as that between Fifth and
Madison avenues, Forty-second and
Forty-third streets to equal the area
of 100000 square feet. In other words
the offices Of the STANDARD Oil Com
pany, when its new building is finished,
would cover all the space between Mad
ison and Fifth avenues. Forty-seventh
and Forty-eighth streets and quarter
of the next block to the north.
Nearly ten such sized blocks as the
Equitable Building is erected on would
be required to equal the floor area of
"26 Broadway" of few years hence
Millions of dollars will be expended
in producing the new Standard Oil
New-York tribune., 1921-03-06
1ax Exemption May Develop
Serious Material Situation
Builders May Not Be Able to Take Advantage Of
Citys Subsidy Because of Undersupply; Expert
Advises Early Purchase; Says Prices Will Go Up

Allen <. Bealss took the members of
the Long Island Real Estate Exchange
into the building material field in Il
talk at the last weekly meeting of the
association. He told them of the diff
ficulties confronting the manufac-
turers of materials and what was the
situation to-day. His advice was to
buy and not delay, for the market was
not Noversupplied, because the outlook
last fall did not hold any encourage
ment for manufacturer to pile up a
supply.
81 can prove to your entire salts
faction he said, that the building
material market is undersupplied in
all but four items. hollow tile, lin
seed oil, certain grades of lumber and
glass. In the latter case. there is not
overproduction on the part of Aneri-
can mills, but the oversupply is due
to the menacing presence here Of for
elgn glass, which is competing against
domestic glass to the detriment of the
American industry.
Ten Days Supply of Cement
Cement has only a ten davs, ma
tional supply on hand. There is at
this moment only 10000 900 common
brick on hand for the entire country.
In a normal year the Hudson River
district supplying New York alone
would have on hand this quantity or
more, not to mention stocks dealers
here in town would have on hand. To-
day there are no stocks in New York
dealers hands and there are scarcely
250,000,000 burned Hudson River
brick available for this springs re-
quirements.
When the building. material man
went into winter understocked he did
so because he did not desire to buy anv
more fuel at SlS ton at the mine in
stead of SO ton.
Exemption Has Changed Matters
How could he -divine that before
another manufacturing season could
swing around New York would start a
possible habitation building stampede
by passing the tax exemption ordi-
nance?
"A week has not elapsed since that
ordinance was enacted, yet there is
scarcely an architect in BROOKLYN to-
day who has not from one to six dwell
ing or apartment operations on his
boards, whereas in December he re-
ported week after week that he did not
have a thing except d few preliminarv
sketches that had no chanc. for action
The millennium in building construc-
tion is still long way of. Suppose
New-York tribune., 1921-03-06
By E. A. MacDougall

President, Greensboro Corporation
The tax exemption ordinance ex-
cmpting new buildings up to $4,000 for
q one-family house or $4,000 for a
two-family house, or at the rate OF
$1,000 room in family house,
rot to exceed $4,000 an apartment,
which has been approved by the Board
of Estimate, will encourage immediate
construction of one and two family
houses and moderate priced apart
nlcnts, particularly in Queens, for the
following reasons:
First-The exemption applies only to
the assessed value of the improvement
md is limited to $1,000 room-not to
exceed $4,000 a family.
Second-The land upon which mod
crate priced buildings can be erected
in Queens would represent only small
percentage CT the total cost, whereas in
Manhattan the land value would repre-
sent probably one-half or more of the
total cost.
1t must be apparent, therefore, that
the greatest benefit will accrue to the
moderate priced buildings on moderate
priced land. This will serve the exact
purpose for which the tax exemption
was intended-to encourage the build
ing of moderate priced homes, as the
great shortage Of living accommoda-
tions in the CITY of New York to-day
IS the lack of accommodations for peo-
pie who can afford to pay from $25 to
$3.50 month.
Exemption Big Saving
The exemption would mean the saw
ing to a family buying a one-family
house or an apartment, where the eX
emption equalled the full assessed
value of the premises, of $40 month
ON a fve-room apartment, or in ten
years a total saving on taxes of 81 ,425
which, if capitalized at per cent
woul | equal about 38 per cent of the
assessed valuation of the Improvement
This would be a very substantial saw
ing to the family that is anxious to
secure home, and should result in a
very active market this year for CO.
operative apartments and moderate
priced homes.
1t has been maintained that the cost
of construction will be reduced so that
the incentive of tax exemption would
not be required. The peak of construc-
tion cost was reached during the last
year, when building operations were
terminated.
There has been a reduction in price
from the peak both in the price of
building material and in the cost of
labor, particularly common labor, but
the average price of construction is
row about the 1919 cost, and we be-
lieve will remain so unless there is
New-York tribune., 1921-03-06

the man who decides to further pos
pone his building plans comes to 1922.
lhe tax exemption privilege will have
eXplrcG under normal conditions. By
1873 the railroads may be expected to
bo in the market with their long de-
ferred purchases, most of which arc
identical with those entering building
construction. Suppose the exchanges
rates have risen near to normal mar
kets, there is no one who can tell
whether American, building materials
may rot be called for abroad or in
Scutn America. American brick from
the Hudson River found its way to
France for construction purposes two
years ago, and American cement manu-
facturers may be expected to make a
try for the South American construc-
tion markets formerly controlled ex-
ciuslvely by Germany. American lum-
Der aud mill work may be called for in
France and Belgium.
1T seems like long chance for the
prospective builder to take. But that
is not all.
Prices Will Move Up Again
ut is safe to assume that prices will
May. Now, il demand should begin
to tal his capacity and he should be
unable, to make scheduled deliveries
and still take care of the, influx of new
business, premium conditions like
those OF 1920 will develop In such an
event it is not unlikely that the build
ing public will register protest
against an upward swerve in the build
ing material price chart. and if the
public again resorts to buyers strike
the building industry can look only to
the doubtful eSpediency of government
intervention to GET it started again"
New-York tribune., 1921-03-06
By rank Bailey
ice-PresidcNt Title Guarantee and

Elce-President Title Guarantee and
fTust Company
The solution OF the Transportation
situation cf greater New York is in
t'mately connected with the housing
sltuation. When the new subways were
authorized the justification Of the large
Investment on the Fart Of the city was
II considerable part the statement that
by constructing these lines the suburbs
would be brought into .lircct communi-
cation with the city and with one fare,
and the city would grow out rather
lhan up in the air.
Already some o. the feeding or nom
paying lines are practically abandoned,
and the abandonment Of others is
threatened. This NEAR that the trans
portation t" the cheaper land not vet
built up is problcmatical and the
houses already constructed, basng
their value on present methods OF
transportation. Will become to a large
extent ValuclesJ and many a home
owner will be ruined
Type of Improvement Favored
At the present time builders and
lenders are all favoring the construc-
zion which is contiguous to the sub
ways, and that kind Of construction
which is dependent uron surface and
other outlying transportation is to a
great extent dormant Therefore the
house favored for construction is a
50XS5foot, five family y-on-a- floor This
IS the last kind of house which should
be favored. but there is no other house
now. economically sound or possibly
safe.
We cannot solve our housing situa-
tion unless at tic same time capital
and owners know what TRANSPORTATION
is to be, and investments will not be
made in new construction. nor will pun
chasers buy houses on lines of trans
portation which may be Abandoned We
nave already been nearly two years in
this state Of unrest and are no nearer
solution, unless Governor Miller's plans
prevail. The continued uncertainty is
worse than g certainty. even if not
quite satisfactory, and an eight cert
even fare all over the city is very much
better than d five cent fare serving
only the congssted~ ~centcrs and result
ing in new CONSTRUCTION for housing of
the inferior tyne. Every effort should
be made to cultivate individual home
New-York tribune., 1921-03-06
$1, 900, 600 Hotel for
Site on Glen Island

Travellers and residents along the
north shore of Long Island Sound are
to be provided with another fine hotel
1t will cost about $1,o0O,Oo0, and will
cover site on Glen Island, the we'll
known former picnic grounds, off New
Rochelle. Charles l.. Taylor, of the
Hotel Martinique; Walter ellison and
Walter schumm are back of the
II. j. Hardenberg. who designed the
Hotel Plaza, the dorf-Astoria and
several other well-known hotel build
lngs, is designing the structure.
The site commanding view for
miles up the Sound has been selected
for the hotel 1t is understood that
considerable speed is being made in
planning the structure and arranging
other details, that the building might
be got under way before summer.
New-York tribune., 1921-03-06
Transit 7angle Has Tangled
Neev Yoz'k's Housing Problem
travel Facilities and Home Construction Have Gone
Hand IA Esand; Builders Will MOI Provide Homes
Without Service; Best 10 Allow Even Fare in Civ

ownership, and the immediate solution
of the transportation proposition is
necessary or home ownership is going
to receive setback for long period.
Transit Has Icd to Investment
Ii many owners OF small homes In
the outlying districts, who have pur-
chased because of their ability u %
to and from their place of business. Ind
their transportation destroyed, then
they will, in many cases. losc their
homes. and new buyers will 40, be
found for houses which they canaos
use.
The whole problem should be con-
sidered from evelY phase and Hot on
basis OF destruction hu. cn = bass O.
construction. Russia is trying the de-
strnction method ana i does .ol work