New-York tribune., 1921-06-10
400 Per Cent
Office Rent
Raises Barred
tcpa,'nued from page cne>

stand withcat any of the leases and
other records demanded by the COM
mittee. When Daily declared that the
books and information sought could
be obtained only by n. B. Miller, treas
urer of the Equitable corporation, and
Mr.. Mortimer, he was ordered to fetch
these two at once.
why is it." asked Mr.. Untermyer
the moment Mortimer took the witness
stand, that of all the institutions in
New York you are the one that has
defied this committee and not answered
Che questionnaire ?"
THAT is not the truth" came back
Mortimer.
Well, you have not answered it,
have you?" queried Mr.. Untermyer
heatedly.
Partially, yes"
"Not partially. Don't you know you
are not going to be allowed to trifie
with this committee ?"
IL am not trifing with the committee,
SIR
Wrangling here followed the asser-
tion of Mr.. Mortimer that he had
turned in some sort of modified report
in accordance with the suggestion of
Raymond l.. Wise, Mr.. Untermyer's
assistant.
Didn't you promise to answer the
qQtStloHudiTe . dSheu MI. CHeSiiHycI'
"In a modified way, yes"
"You won't answer II In any modi-
fed way, you'll answer it completely.
Now, if you are given the time will
you prepare an answer to that ques-
tionnaire like everybody else does, or
do you think you are above and be-
yond the law"
"Oh, no." replied Mr.. Mortimer.
Mr.. Mortimer was finally given until
the end of next week to prepare the
QUESTIONABLE.
In reading over the lists of rental
increases in the downtown office build
ings, illustrating the gouging opera
tions of the owners, Mr.. Untermyer
stopped for a moment when he came to
the building at AZ Broadway.
II think / ought to say, Mr.. Chair
man." remarked Mr.. Untermyer, that
that is building in which | bought
half interest about four weeks ago;
that is, not l, but a trust fund that
was created by me some years ago for
the benefit of my family, and the
trustees bought four weeks ago half
interest in this building; but there
have been no changes il. the rents
since that time
Mr.. Untermyer went through the lists
with Frank d. Chaiken, certified ac
countant employed by the committee.
The figures cited included boosts from
1915 to 1921. Some of these were given
as follows:
At 60 Wall Street, raise of one
tenant from $4,000 in 1919 to $4,000.
Another from S1,575 to S3,400. Another
$1,000 in 1918, $1,425 in 1919, s1,650 in
1920, $1,000 in 1921. Still another,
1920 and $11, 900 in 1921. Another from
$4,000 to $4,000 gradually-s2, 800, then
$4,000 then $4,000.
Another from $1,000 to s4,320. In the
same building, another from SITS to
Sits.
Another from $4,000 in 1919 to $3.50
in 1920 and to 5000 in 1921.
At % to "a West Thirty y-eighth
Street: One tenant from $1,000 in 1915
to $500 in 1916, $4,000 in 1917, $4,000
in 1919, $4,000 in 1921.
Another one from $2,7oo in 1915 to
$4,000 in 1916, $4,000 in 1877, s4,25o in
1921. Another from $1,000 to $4,250.
"The Vanderbilt Concourse, where is
that?" asked Mr.. Untermeyer.
The witness: go Vanderbilt Ave
nue."
Mr.. Untermyer: From $4,000 in 1917
and 1918 and 1919 to s12,600 in 1920, to
$4,000 in 1921.
"Another from 5000 in 1918 and
1919 to $6, 100 IN 1921. Another from
s1,956 in 1917 to $2,280 in 1918, to
s2,4oo in 1919, to s2,76o in 1920 and
to $500 in 1921.
''At SO East Fortysecond street
New lease in 1918 at $1,000; new lease
in 1920 at $4,000; new lease in 1921
at $4,000. Another in the same build
ing, new lease in 1920 for $1,000; 1921,
S2,575."
Thomas Austin, head of the Home
Savings Bank of Albany, remarked with
respect to some transactions where the
borrower had to take Liberty bonds at
par as part of loan from his bank
that "there wasn't any patriotism in
business, I guess"
"You speak for Albany in that ?"
asked Mr. Untermyer.
swell, I learned it down here"
laughed Austin, sin New York City,
and took it back with me there"
In connection with the additional
sums exacted from borrowers on top
cf the usual interest. which Mr.. Inter
myer referred to as bonuses, Austin
declared they were not bonuses, but
extra interest,"" and were noted as
such in his books. He added that his
bank never demanded extra interest"
but that they took it when it was Of
fered because it would have been
foolish not to take 1t.'i
William Knox, vice-pre of the