Evening journal., 1922-06-03
DEEDS SOON
FOR GARDENS
PROPERTIES
tcontlnued From FIrst Page.l

Conferences were held To-Day j
Philadelphia between representative
of the Fleet Corporation. A. NJ
Greenfield, Of Philadelphia, and tn
Land, Title and Trust Company a
which a blanket title to the entire
Gardens is expected to be given t'
Mr.. Greenfield, who is to have
charge of the individual transfer ol
the properties TO their purchasers.
According to latest word from
Philadelphia this procedure is fully
expected 10 take place this AFTER
noon or early on Monday. As a re-
suit Of pressure brought to bear sn
the Fleet Corporation officials by
United States Senators DUPONT and
Ball and Congressman Layton, as
well as by the Wilmington Chamber
of Commerce. the work of making
the transfer is now being rushed at
utmost speed.
Mr.. Brown said today that he al
ready had sixty deeds ready 10 be
recorded and turned over to purchas-
ers OF the houses, and that he con-
fidently expected that the remaining
deeds would be transferred at rate
of at least ten a day.
As there are more than 500 prop
perties altogether, Mr.. Brown an
ticipates that the entire transaction
will be completed before two
months. When asked II the fact
that taxes will fall due on July
would Interfere in any way, he re-
piled in the negative. To obtain the
rebate given taxes may be paid any
time during July.
In speaking of the fees for the
transfers Mr.. Brown said that they
would be slightly less than usual
because of an arrangement made
1y the Fleet Corporation with the
land, Title and Trust Company.
It was reported today that Mr.
who will take over the
,ntire Gardens and manage the
property transfers. had already ar
anged to turn this duty over TO
mother person. after collecting his |
lwn brokerage fees. Henry r. Rob |
rts, vice-president Of the Land. /
'ltle and Trust Company, said to- !
ay, however, that this report was /
.ot exactly correct. The blanket /
tile Is being made out in the name |
Z a clerk in Greenheld's office, who
! serving as a dummy" but the |
ctual work OF transferring the /
properties will be in Greenheld's
harge.
1t further was learned on good |
that Greenfield is paying |
he Fleet Corporation 80 per cent of
he total mortgage values represent
ID in the transaction. This will give
1im, therefore, a profit Of 20 per
cent or $40 on each 800 Of mort
gage money loaned. The Fleet Cor
poration stands this loss.
AS a result OF the letters sent to
them by william T. Budd, secretary
OF the Chamber of Commerce, Sena-
tors dupont and Ball and Congress
nan Layton got busy in Washington
with the United states
shipping Board officials. The Elmer
,ency Fleet Corporation is a sub
idiarv of this board. Then the I
wheels began to move TO unwind the
normouse mass OF red tape which |
as kept some purchasers ofNthe
lardens out of their new homes for
nree months, and has obliged ten
nts who bought in their homes 10
ay rent instead OF being able to
ppIy the money toward purchase OF
leir dwellings.
"Just let the tenants who have
ought the homes they live in stop
aging rent" today remarked
ian who has kept close in touch
ith the entire deal. Let them
fuse to pay rent" he added. "and
Il venture that the properties are
in a hurry"
One OF the first things the Ship
ng Board did was to dispatch VIII
am T. Sabine. of its legal staff TO
to finish the negotia-
ons for the blanket title transfer
is instructions were TO get the
ansfer made as promptly as pos
BILE.
Thomas f. Peeney, secretary TO
,nator Ball, dropped into the
namber of Commerce this morn
g and told Secretary Budd that he
,sterday saw Sidney Henry, of the
eet Corporation, in Washington
I'd was informed that Mr.. Sabine
ID been dispatched TO Philadel-
ia. He also was informed that
lay had been due in part to dis
very OF some minor heirs TO parts
the Gardens tract. whose claims
ID to be looked into before titles
uld be guaranteed. These heirs,
was added. had owned land on /
10 north side OF Lancaster avenue. :
Just prior to Mr.. Peeney's arrival. (
scretary Budd made public the fol- ]
wing letter received from Con- [
-essman Layton:
MY dear Mr.. Secretary:
''I have your letter calling my at
ention to the delay in the matter OF (
lrnishing deeds TO the recent pur- /
hasers OF Union Park Gardens. {
Il Will take this matter up at once
nd see what my urgency will ac-
in the matter"
Word meanwhile had been receiv-
d that Senator dupont was bending
very effort to assist purchasers of
he Union Park Gardens properties
D obtain their homes without furth-
r unnecessary delay.