Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1922-06-26

TO NET ABOUT
-29PER CENT.
CONTINUED from FRS: Page.)

their owners much more rapidly"
In contrast with this declaration
! City Solicitor Reuben Satterthwaite
Jr., declared that from what he had
observed at the office of the Liberty
Land Company's office. headquarters
in Wilmington OF the Greenfield firm
1t will be weeks before the settle
ments are entirely cleared up and the
properties and all turned over.
Mr.. Satterthwaite said he was only
interested I'm the Gardens because he
represented clients who were loan
ing money on the properties and he
was anxious TO get the mortgages
fixed up. The deeds to the proper
ties, he added, were being prepared
in Philadelphia, and were quite diff
ferent from the usual form in Della
ware. lie said he had offered to
draw up the papers in the case he is
interested in so as TO save time, but
that the Greenfield firm had de-
clined to let him do so. When the
papers are drawn in Philadelphia,
they are sent to Wilmington for sig
natures here, and then have to go
back to Philadelphia for final sign
ing and approval. This method is
cumbessome and causes much delay
II had been reported that Mr.. Sat
terthwaite was preparing a petition
TO the Senate in Washington asking
for an inquiry into the whole Gar
dens deal between the United States
Shipping Board and the Greenfield
firm in Philadelphia. He denied this
report, but said that If he were rep
resenting some of the tenants who
are being kept out of their homes,
he most certainly would consider
getting up such a petition. The
treatment OF these people is outrag-
eous." he declared. land something
should be done 10 assist them in
getting into the homes
According to a realty man who |
has been in close touch with the |
entire Gardens transaction since |
The auction sale the figures publish |
I'd on Saturday showing that the |
firm would get a profit |
Of about 16 per cent. were not alto /
sethe- correct. The figures on Sat |
lrday have brought out the further |
act, he declared that Greenfield |
lad bought the entire property at
discount of 20 per cent. on the en-
ire sale, including his cash pay
nent of 10 per cent. OF S1,600,O00
II $4,000. In addition, this realty
nan said. Greenfield also got the
ents from the date of the sale and
standing rent account OF $500,
he Shipping Board paying the coll
Getting agents up to June ;.
There has never been a public
OF the transaction" con-
inued this informant" and yet this
= a public deal and should be a
natter OF pu bile record. The Sen
re in Washington should demand
In accounting. II that is done it
will be found that the figures I have
ust given you are correct.
Taking the deal as whole
Greenfield will net about 20 per
'ent. in all, while the government
will get the remaining II per cent
II the purchase price of $1,60O,O0O.
These figures can be readily verified
~ an accounting"
At the Office of the Recorder OF
Deeds in the Public Building it was
aid this afternoon that only one
more deed had been filed since Sat
rday, making 33 in all thus far out
# an estimated total OF SIS which
will be required to transfer the en-
ire Gardens properties and vacant
OTIS to buyers.