davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1921-01-06
REALTY MARKET BRIEFS.

Plans have been filed for a one story
housing station, 200x104. on the south
side of Delaney street between Colum-
bia and Commerce streets, by the De-
partment of Plant and Structures, to
cost $4,000.
Thomas r. Crawford and +. T.
Thomas were the brokers in the sale OF
467 West 18th street for the Gale
estate.
Esther Koondel is the purchaser Of the
tenement at 800 Henry street, sold by
the Lawyers Mortgage Company.
The sale for Frank Viggiano TO "
Rose of the six story tenernents at 1877
and 139 Sullivan street was reported
yesterday.
Sallie T. Wainwright is the buyer OF
the dwelling at 81 West Seventy xth
street
Rhona Realty Company bought the six
story apartment house at 10 West 116th
street, sold recently by Il. Block for C.
Schloss
Clara Schloss and Media Bloch are the
buyers of the apartment house at 10
West 116th street.
Michael Pisapia is the buyer OF the
dwellings at 100 and 1872 West Sixty
fourth street, sold recently.
Robert G.. Grunert of the ID. A. Cush-
man Realty Corporation. 172 Ninth ave-
nue., has succeeded the firm and will
continue the business at the same adj
dress.
II. p. Wright a. Co. builders. viii
move to their new building at 207 East
Forty-third street after January 10.
The New York herald., 1921-01-06
SEEKS HELP AT ALBANY
TO SUPPLY MORTGAGES

Charles Galewski, the real estate op-
orator, announces that he has framed a
Dill TO be introduced at the opening of
the Legislature, the purpose of which Is
TO amend the banking law so that saw
ings banks and trust COMPANIES will be
compelled to invest at least SO per cent
of their funds in mortgages The in
terest rates on these proposed mort
cages WILL under the terms of this bill.
be limited to l per cent in excess of the
rate of interest given to depositors.
I'm this way" says Mr.. Galewsld
excessive interest charges now levied
by the banks will be prohibited and the
money that the banks send to Wall
Street for speculative accounts will be
directed to ease the mortgage market
and to provide cash for new buildings.
III the interest rate on mortgages is
reduced only one half of per cent the
saving to investors in houses will be
enormous. 1t is in some affirmative
measure like this rather than in the
placing Of restrictions about the owner
ship of real estate that the real remedy
for the shortage of housing space must
be found"
Mr.. Galewski says he has arranged
with Assemblyman Joseph V. Mckee of
the Seventh Assembly district of The
Bronx to introduce the bill
The New York herald., 1921-01-06
CONSOLIDATED EXCHANGE.

Improved metal trade advices induced
brisk inquiry for steels and coppers dur
ing the second half of yesterdays Con-
solidated Stock Exchange trading, nt-
tending gains in those groups ranging
from 2 to almost 5 points. A sympa-
thetic trend in the balance of the indus
trial list brought material rallies from
initial lows. Mexican Petroleum and
Pan-American more than regaining sub
stantial first period losses. The rails
were somewhat inactive and. their rallies
mainly limited to fractions.
Crucible Steel rose 4a to so, United
states Steel to 81 q Republic, to SO u /:
Bethlehem Steel 3. 10 5614 : Baldwin
Locomotive. 1N TO S7A Anaconda. / q
10 37ia American Smelling. to 371s /;
Cerro de Pasco. 1 x to 291a Seneca,
1ik to 1895 Kennecott. to 1919 Mexi-
can Petroleum. 4 to 154al Pan-Ameri-
can. rs TO 1915 Texas and Pacific
Coal and Oil. 1as to 81 Studebaker. u
TO 46& General Motors to 14% At
1antic Gulf. 81 to II Tobacco Products,
tx to san /; American Sumatra. 4 to
76h. and Retail Stores. "a TO 55h.
General Asphalt was bid UP Az TO
50L Corn Products. Il to ss; Famous
Players. 1M to 49A American Sugar
Ia to 81 American Woolen. / to 81
international Paper, l to 44h Southern
Pacific. to ssN Reading, IL to s2%
Northern Pacific. AZ to S219. and Lee
high Valley, l to 55A.
The New York herald., 1921-01-06

East Sixty-sixth street: building an
ornament loan Of 100000 on 21 Eas
sixty-sixth street, corner of Madisoi
avenue, for the erection OF an clever
story apartment; $4,000 on the south
vest corner of Seventh avenue and Fifty
fifth street, a six story apartment
$4,000 on 5Ss West 124th street. a six
story apartment.
For the 700 West End Avenue Cor
poration. $4,000 on the northeast corner
Of West End avenue and Ninety-fourth
street a five story apartment; S66,00O
on III and 173 Sherman avenue. five
story apartment; 100000 on the south
east corner of Topping avenue and 10th
street five story flat; s230.Oo0 on
201 and 203 West 117th street, two seven
story apartments: $4,000 on 555 West
lIOth street a six story apartment ;
$4,000 on 1870 Broadway, five story
business building; $4,000 on 3 and
West Eighteenth street an eight story
structure. and $4,000 on SO West
Seventy-second street, a seven story
apartment.
The New York herald., 1921-01-06
BROOKLYN TRANSACTIONS.

Charles Heymann bought from Ger
trude Carney 661 Flatbush avenue. COR
ner of Hawthorne street. a four story
store and apartment, 35xSS.
A. l.. Libman sold for the Realty As
sociates two residences at Sixty-eighth
street. Sixty-ninth street Bay Ridge
and Sixth avenues The buyer of 579
Bay Ridge avenue is Arthur Pastore and
the buyer of 1922 Sixth avenue is Miss
Mary Frasca of the Mulberry Commun-
ity House.
B. f, Knowles Company sold 63A Di-
vision avenue. two family dwelling.
for l.. Burnett to Mr.. Epstein and a
Mr.. Platz.
Bulkley & Horton Company sold 1875
Vanderbilt avenue. between Myrtle and
Park avenues, three story twenty
foot dwelling, for the Sinclair estate.
E. T. Newman sold the three story
dwelling at 749 Carroll street for Helen
Hamilton.
Edward b. Kegel sold the two family
house at $40 Nineteenth street. near
Seely street, for Leonard a. Lowe.
The New York herald., 1921-01-06
DEFLATION MUST
GO ON, SAYS BANKER
G. E. Mitchell Tells Chicago
Bankers Outlook Should Be
Soberly Optimistic.

CHICAGO. Jan. 5.--The view that busi-
ress defiation must continue for a period
hut that the outlook for 1921 should be
soberly optimistic, was expressed by
Charles L. Mitchell. president of the
National City Company of New York, in
addresses which he delivered here to-
day before the Association OF Commerce
and the Chicago Bankers Club.
There will be and must continue TO
be an absence of demand for commodi-
ties said Mr.. Mitchell. accompanied
by a marked degree of unrest and
concurrent falling off in production until
the process of dehation has extended
itself TO an approximately equal degree
In every commodity. every trade and
every body of organized or unorganized
labor
I'VE must be satisfied if we can OBJ
tai's ,podicum of prosperity. and
feel ...s, sucn modcum is we'll within
the realm of possibility within the year.
further feel that while this degree Of
prosperity. as gauged by the yardstick
OF the false prosperity of recent years,
will seem small indeed, it may well be
q prosperity of normal kind and of a
magnitude under which we may all work
more happily and contentedly than in
those days when the bubble of imitation
was being blown"
After reminding his hearers OF the
nations tremendous business resources
and of the splendid strength manifested
by the national banking system in re-
cent months. Mr.. Mitchell asserted that
a bitter experience would overtake that
industry, that trade or that class OF
labor which stubbornly refuses to do its
-t.r ..f,n rarfs tx-laf dt
precede the advance into prosperity
Bankers the country over. he said, in
the present critical period. when mer-
chants are studying their January bal
ance sheets, must determine acceptable
credits not by ability to discount as
formerly, but by factors which will
prevent all rocking OF the boat
Mr.. Mitchell blamed the excess profits
tax for destroying the liquid credit of a
large portion of American corporations
and the income tax for having con-
stantly disrupted the investment and
mortgage markets. but did not suggest
substitutes. the weighing OF the merits
Of the substitutes proposed being, ne
said, "a job for a commission of ex-
perts." He asserted, however. that the
sooner an adequate system of taxation
should be reached the sooner business
hesitation would cease.
"Let us without fear or hysteria face
the problems of 1921" Mr. Mitchell
counselled, "and let us not ourselves
finch or permit our neighbor to fiincn
from accepting each his share of the
sorrow and burden of the defation
period The daily trials and tribulatlons
will grad ually grow less and we VIII
emerge into the happy land of normal
business, where. with lower levels of
nj aesti In n
more conservative policies in every
branch of trade. the prospects will grad
ually become brighter. and with old
debts paid. accumulated stocks of COM
modities absorbed and our financial
structure strong and broadened the
clouds upon the commercial and finan-
cial horizon will have disappeared"
The New York herald., 1921-01-06
VAST BUILDING PLAN
FOR TERMINAL ZONE
Project for Grand
Central Section Announced
by r. M. Cats.

In spite OF the decision of the Weaver
Crawford syndicate to postpone the
erection of the giant cooperative Park
Madison thirty-one story Office building
just above the Grand Central Terminal
because of unfavorable business condi-
tions. this section of the city will soon
furnish tremendous amount of addi-
tional business space as a result of the
erection of an eighteen story office build
ing just west of the Grand Central Pal
ace and by the conversion of the Grand
Central Palace itself into an office build
ing. These two projects are to be un-
dertalxen by Robert NJ Cats, who has
just acquired control OF the Merchants
and Manufacturers Exchange. which
leases the Palace building.
At rental of 100000 a year Mr..
Cats has leased from the New York
Central and New Haven railroads the
vacant plot bounded by Park avenue.
Forty-sixth and Forty-seventh streets
and Depew place just west of the Pal
ace and Warren & Wetmore, architects.
are preparing plans for the eighteen
story structure, to be known as the
Central Square Building-West. This
building will be connected with the
Grand Central Palace. which will there
after be known as the Central Square
Building-East. The two buildings COM
bined will furnish 10000 square feet of
space on each floor.
The new building will probably cost
S5.O00.000 and the alterations TO the
Palace building, it is estimated, will
amount to at least 100000. The COM
bined venture will cost approximately
S10,000,0O0 and should provide 1,0S0,000
square feet of space.
Brown. Wheelock Company, which
represented Mr.. Cats in the negotia-
tions by which he acquired the lease and
control of the Palace, have been ap-
pointed rental and operating managers
and have established offices in the Grand
Central Palace building. Control of this
property. which is twelve stories high,
has just passed into Mr.. Cattss hands.
Six additional passenger elevators and
three large freight elevators are to be
installed in the building. Two arcades
running east and west and north and
south are to be provided on the ground
floor. The north and south arcades will
be fianked with retail stores and ad-
ditional space for banks will be provided
on the ground floor.
The New York herald., 1921-01-06
PLACE $2,e30, 900 IN LOANS.
Activity Indicates Good Demand
for Mortgages.

Lawrence. Blake a Jewell have recent
ly placed loans aggregating $2,630,000
at 5Ih and 6 per cent. Those amounting
to $4,000 or more follow: $4,000 on
the northeast corner Park avenue and
Fifty-ninth street. five story garage 4;
$3.50, 900 on the northeast corner Of Sew
enty-flfth street and Broadway. two
story store building; $275,0O0 on the
southeast corner of Albemarle road and
FIatbush avenue, Brooklyn. five story
office building and theatre; a second
mortgage Of $4,000 on the southeast
corner OF Fifty-fourth street and MadI-
son avenue. fifteen story apartment !.
s55. 900 on % Washington street. seven
story office building: $4,000 each on
the two private residences II and 10
The New York herald., 1921-01-06
BANK HoNORs JOHN WALKER.
Retiring Teller of Trust Company
Receives Unusual Compliment.

At the close OF the civil war John
Walker. then just mustered out Of SER
vice, became clerk with the New York
Life Insurance and Trust Company. He
stuck TO the job and advanced from
junior to senior clerk and then 70 pay
ing teller.
This week. after FIVE and half
decades Of service. in which he watched
the firm rise into n powerful financial
institution and Wall Street grow 10 be
a centre of the financial world. Mr..
Walker turned in his resignation TO off,
GERS of the company and announced that
no wanted to take a rest.
So much did the trustees OF the in
stitution think Of Mr.. Walker and ap-
preciate his fifty-flve years OF faithful
service that they had his record placed
on the minutes OF the bank with tho
notation that they desired 20 record
their appreciation Of his devoted service
through so unusual number OF years
Mr.. Walker was a First Lieutenant
OF the 1920 New York Volunteers and
served three years In the civil war. re-
signing his commission in 1866 to 20 70
work for the institution with which he
spent his entire business life
The New York herald., 1921-01-06
AWAIT ORDER ON S. P. STOCK.
Central Union Trust 60. Asks Court
for Instructions.

Counsel for the Central Union Trust
Company have given notice that on
January they win ask the Judges OF
the United States District Court for
the district OF Utah. sitting In equity
in st. Louis. for instructions concerning
tho disposition of certain shares Of ths
Southern Pacific stock remaining in the
company's possession ms trustee under
the decree OF June 80, 1919. which com
PEELED the Union Pacific to dispose Of its
holdings OF Southern Pacific stock.
The trustees petition recites that ot
the ss3.576 shares OF Southern Pacific
stock received. sT9.ess shares have been
surrendered TO subscribers under the
terms OF the decree. 3.5g9 shares are
held for issue on surrender OF outstand.
Ing certificates OF interest. twenty seven
shares are represented by folly paid
subscription receipts, the holders ot
which have not complied with the de-
cree and two shares are still represented
by partial payment receipts.
The stock stil held By the trustees
Is owned by 204 registered owners. A
total OF 620 shares are claimed by the
Allen Property Custodian
The New York herald., 1921-01-06
COTTON.

The cotton market reversed itself COM
pletely yesterday and scored gain of
approximately S5 bale late in the
session after showing an irregularly
higher tendency during the earlier trad
ing. Business was moderately active and
il was evident that shorts felt less sure
of their position in the face of more
optimistic reports from trade centres and
better local feeling. good part of
yesterdays buying was again of an in
vestment nature. and the long interest
is increasing rapidly. The market was
about 40 TO 63 points net higher at the
outset, the result of Liverpool and local
support promoted by higher cables re-
ports that more cotton mills were re-
opening on full time and the sharp adj
vance in sterling Early selling was
largely by the South, but it was easily
taken care of.
After the opening the market met pro-
fessional realizing, and IL was not long
before the list had lost more than one
half of its early gain. The three January
notices in circulation were without ef-
feet. The National Ginners Association
placed the total ginned TO the end of
December at 11,640.000 bales. making
the indicated crop 100000 to 13,200,-
600 bales The ginning of $4,000 bales
in the last two weeks in December was
virtually a record. Not long after the
opening a report that the Amoskeag
Manufacturing Company had announced
a resumption of full time operation in
it's cotton division, following the lead
of about a dozen other concerns, was
heard
Sentiment continued mixed, but If the
Improvement in trade keeps up there will
be undoubtedly a revival of bullish feel
ing. particularly as the campaign for
reduced acreage next season is under
way. The market was fairly firm in
the second hour, but toward the end of
the third hour appeared TO be strong.
Outside interests covered in the fourth
and fifth hours. which accelerated the
upward movement. stop loss orders be-
ing reached. At its best level the market
was SIS to 50 points up on the active list,
the close being around the top. Local
spot was IS points higher at 1886 cents.
Range of prices
The New York herald., 1921-01-06

street to Wilmerding, Morris & Mitch
ell; IN 10 and 21 West Twenty-fourth
street to Barnet Mirkin: I'M 10 and
81 West Twenty-fourth street to Har-
ris Blumenfeld and In 19 and 21 West
Twenty fourth street. to Acorn Cloak
Company.
Clinton Fl. Booth rented seventh floor
west in 1s and 81 West Fifty-seventh
street 10 Nine. Goldberg.
NJ. e. l.. Hess, Inc. leased space In
l4s West Twenty-third street to the
United Novelty Company and Aivazis
Bros: also in II to 21 East Twenty
second street TO Anna Phillips. the Yale
Art Embroidery Company and Schneider
q Collins.
Tankoos. Smith & Co. leased In the
Liberty Building at the northeast cor
ner of Liberty and Greenwich streets
offices to the Consul General of Hayti.
Real Estate Management Company
leased three lofts for Mrs. l.. c. Brown
in 5S Greene street.
=. NJ. Clear & Co leased for Adolph
S. Landau the five story building at LOG
West Thirty-nrst street and have been
appointed agents of the building.
Homer l.. Pence leased the eleventh
floor in 10 and 81 West Thirty-sixth
street to the Holland Hat Company for
five years the store and basement In
46 West Forty sixth street to the Laun-
dryette Sales Company; the fourth
floor in 12 East Thirty-third street
to the J. V. Meyering Trunk Company
of Chicago; the store and basement in
West Fortieth street to De Packh &c
Gastonguay. leather goods, and ninth
floor in SO West Thirty-sixth street to
Beerman, Fortgang & Doman. ladies'
trimmed hats.
az Rrna6w1V
front of the twenty first floor in AZ
RrOadway
The New York herald., 1921-01-06
BRONX DEALS REPORTED,

Edward Polak, Inc. sold to the Upper
Bronx Home Company 102 foot plot
on East 22Sth street; also for the
Foundation Realty Company to Samuel
Garland 66S East 223d street. a two
family house. 25x125. and for the same
company to Mrs. Sarah Baron 1868
Bathgate avenue, one family frame
house, 23x70.
Harry Calm purchased through George
e. and Charles Buckbee the vacant plot
on the northeast corner of Fordham
road and Belmont avenue. 50x135, from
Albert Ambruster.
Elizabeth w. Winchell, who recently
bought the Michaelis residence on Field
ston road, F'ieldston. has purchased
from the Delafield estate an adjoining
lot. 25x120.
The New York herald., 1921-01-06
MISCELLANEOUS LEASES.

Adams & Co. leased in so East
Twenty-frst street the twelfth floor, con-
tanning 10000 square feet, TO Moore &
Gibson Corporation and lofts In 81
West Seventeenth street to Louis Altes
and Jacob Sllber.
Roy Scherick has leased for Albert y.
Ashforth. Inc, store and basement In
and West Nineteenth street $4,000
square feet to the Simons Company.
hosiery and underwear. for rental ag-
gregating $4,000: also for Well n
Meyer fifth floor in SOC and SOS Broad
way, TO Joseph Loewy Company. shirts.
Harris, Vought & GO. leased for
twenty-ono years the southeast corner
of Fifty-ninth street and Second avenue
to the Uited Confectionery and Toy
Company, Inc. The aggregate rental Is
approximately 100000.
Bastine q Co. Inc, rented the fol-
lowing spacesi In 11s East Nineteenth
The New York herald., 1921-01-06
SUBURBAN TRANSACTIONS.

Percy w. Crane sold through Simp-
son-Merritt Company to Mrs. Julia Il.
James two residences in Montclair, one
on Gates avenue near Union street and
the other on Elm street near Union
street.
Edward Polak. Inc, sold to Joseph
Klein n plot, 91x2SS feet. at Kings
Park, l.. i.
Albert Il. Ashforth. Inc. leased for
Julian Peabody his estate at Westbury.
l.. l., to Mrs. T. w. Millett of New
York. The property adoins the estate
of Charles Steele. Maurice Heckscher
and Thomas Hitchcock.
The New York herald., 1921-01-06
THE AUCTION ROOM.
(1i VESEY STREET.)
BY Henry Brady.

broadway, II w cor 161st st, 1O2. .3x1OO.
vacant; Mariana G MacDougal against
William Casey ct al; action a Foster &
Thomson, attys; due. 800, $50. %: taxes. &c.
$500; to Joseph Golding for $107,5O
l6lst st, w, s. 100 W Broadway, 25x102. 3,
vacant; same against same; action 3: same
atty due: S10;254 40; taxes. &c. s610; to the
16lst st. w, II s. 125 W Broadway, 5Ox1O2 3.
vacant; same against same: action Q; same
atty; due, S1S,lO5.64: taxes, &c, 81 200; to
the plaintiff for $17.500
1lIth st, 655 w, g. 100 Wadsworth nv,
50xa91l IL Bank Of Washington Heights
against Temple Gate of Hope ct all Phillips.
Mahoney Leibell, attys; due, $6,S5s. OF !;
taxes, &c, S409. go; to the estate of NJ ]
Mahanty and Nicholas f Walsh for S12 800
The New York herald., 1921-01-06
ESTATES APPRAISED.

CHILD. Mary G.. april IS, 1920 Gross
estate. s15e.47i; net estate. SliI.343. The
beneficiares are her husband, John How.
ard Child, life tenant, and Franklin i.
Cowing. her brother, remainderman.
Lester G.. august ~. 1g9) =
Gross estate, Sal i.2T4: net estate. S3e.4S6
One half Of the estate goes TO his brother,
G.. y. Hubbard. and the other half, In
equal shares. to two nieces.
WRIGHT, Josephine Lyon Hamilton (June 4,
1910 Gross estate. 1851 ,0Ts; net estate.
Spt4.1ss. The benefciaries are Lawrence
W. Wright. son; Blanche ID. Wright and
Beatrice Orne Chapman, daughters
The New York herald., 1921-01-06
ELECTED ny BANKERS TRUST.

Paul Moore was elected a director of
the Bankers Trust Company at a meet
ing of directors yesterday. MIR. Moore
is Il son OF Judge William II. Moore and
a member OF the firm of Taylor. Bates
4 co. He is a director of the Lehigh
Valley Coal Sales Company, the Ameri-
can Can Company and the National
Biscuit Company.
The New York herald., 1921-01-06
NEW ORLEANS MARKETS.

NEW ORLEANS. Jan. 5--Reports of many
mills increasing their running time, In the
cases of some large plants to practically
fun time, was the dominating influence In
the cotton market to-day, and prices were
higher from the opening. The rise was
gradually widened and the close showed net
January, 14.i5c.: March, 1423c.; May
u 4Oc. =; July. 14.4Ic.; October. l4.4Ic
The New York herald., 1921-01-06
METALS.

on the New York Metal Exchange yes
terday tim was firm. with Class A quoted
at $35.75@3S: Glass B. S34 q $3.50. and
Straits shipments, $3743S. Copper
quiet; spot and January. S12.5O@ 1873.
and February. s12.50@13.5O. Lead
firm New York spot. $3.50 asked, and
East St. Louis spot, $3.50 asked. Zinc
easy; New York spot, $5s5, and East
ST. Louis. $3.50.
The New York herald., 1921-01-06
SWISS LABOR IN SERIOUS STATE

BERNE. Switzerland, Jan. 5.-Switzer-
lands exports OF embroidery TO the
United States amounted to 26.000.O00
francs in 1920. against 92. 100000 francs
in the banner year of 1907 and 61.000,-
600 francs in 1913. The Swiss work
shops report more than $1,000 persons
unemployed. industry undergoing a crit
ical phase and many watch factories
shut down because OF lack of orders
The New York herald., 1921-01-06
SOUTHERN SPOTS.

Galveston steady. so higher at lac. sales
/ O2f bales New Orleans steady, % higher
at 14c. sales 1,05s bales. savannah steauy,
AZ higher nj 15c; sales II bales. Norfolk
steady, % higher at 14c.; sales 40 bales
Memphis steady unchanged at lac: sales
800 bales. st. Louis unchanged at I4o.
sales nil Houston steady 50 higher at
IL SIC: sales 3. .T72 bales. Little Rock quiet
unchanged at lac: sales s25 bnles: Dallas
steady, % higher at IL. ioc. safes o'-oo
I3 4Oc: sales 1 $50 bales.
The New York herald., 1921-01-06
LIVERPOOL CABLES.

Spot cotton quiet. at 10 points advance' nno
middling s.5Sd Sales 5000. American 1000.
Imports il. 900, American 1900. Futures
opened quiet, at 81 TO 32 points decline.
Closed steady, at a net advance OF points
10 a decline OF points. January. g.6od'
March. a.72d; May. 9.sld: July. 9s2d'
October a.75d Manchester: yarns ana
cloths quiet.
The New York herald., 1921-01-06
LIVE STOCK AND MEAT PRICES.
y. v. MEMBER TO RESIGN.

WAsHfNGToN. Jan -Represeniativc
smith OF New York to-day confirmed re-
ports that he would resign from the
House soon TO become Public Adminis-
traitor of New York county.
The New York herald., 1921-01-06
QUEENS MARKET.

Halleran Agency sold for the F. r..
& C. Company the two family dwelling
at 81 North Prince street, Flushing, to
+. Ii. Hatosy Of Long Island City.