davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1922-01-22
NEW COMMERCIAL
AREA ESTABLISHED
Fisk Building Now Gateway to
Business Zone in Shadow
Of Central Park.

When In 1920 the Fisk Rubber Tire
Company purchased the site OF the old
Rutland and st. Augustine apartment
houses. occupying the entire block front
on the south side OF West Fifty-seventh
street from Broadway to Eighth ave-
nue. and announced the construction of
a twenty-five story office building this
decision TO establish a new commercial
center at the very gateway to Central
Park and the city's residential districts
began distinct movement. a decided
northerly and westerly extension OF the
uptown business district
Sons few OF the doubling Thomases
In the real estate field shook their
heads. saying TT can't be done in the
present market. with several million
square feet OF new business building
space In the Grand Central Terminal
and other established zones to be dis
posed Of" But the Fisk Rubber Tire
Company and the Cross & Brown Com
pany, agents, had confidence 1t could
be done; and SO the day came when the
apartment houses were demolished and
the new twenty-five story Fisk Building
was started by Fred I. Lay & Co., the
builders.
Floor by floor, the building since has
risen to Its imposing height. Meantime
the Cross & Brown organization has
NSOh ShSo6Ca htSHL anu Cdy SOilClllnBs
planning and scheming to find tenants
of a class fit for such a building The
task has not been an easy one, but the
building. with its elastic floor plan, high
percentage of light and usable floor area
and superb location combined, has
succeeded in attracting a number Of ton
ants of high order, despite the compile
tion os the structure long after the close
of the 1921 renting season.
Now at the threshold Of the 1922 rent
ing season the Fisk Building is recog-
nized as the pivotal point In the crea--
tion of New York's newest commercial
center. and has passed far beyond tho
experimental stage, the latest lease in
volving the renting Of more than two
entire floors approximately 10000
square feet) by the Kelly-Springfield
Tire Company at an aggregate rental in
excess of s1,oo0.00o for the term Of the
lease.
At the present time eleven Of the
twenty-four stories are substantially
rented and most of the store space has
been absorbed. The majority Of the
tenants are identified with the automo-
tive, tire and accessories industries.
The New York herald., 1922-01-22
NO LACK OF MONEY
FOR HONEST HOUSING
Capital Willing to Invest if Labor Is
Fair and Materials Are Sound,
Says CLARENCE II. Kelsey

because with the present cost OF mate
rial and high cost and low productivity
OF labor no homes can be built to rent
for SIS or $40 a room month.
"The result is that so long as labor
can be employed at the extravagant
rates demanded and produce as little as
IL does and material men can get the
high prices demanded for material and
builders can employ both and have the
taxpayers foot the bills there win be
nothing done to produce the kind OF
homes that are most needed.
There should be no extension OF the
tax exemption and no more building or
the kind of homes that have been pro-
duced so extensively during 1921, but
labor should come down In its wages ann
up in its production and material prices
ehculd come down so that something can
be done for those who can pay only
low rent"
According to the report the Title
Guarantee and Trust Company enjoyed
the most productive year In its history
from the standpoint of earnings, and
that in spite of the fact that there were
.ewer deeds and mortgages recorded in
1921 in most counties In and surround
ing greater New York. Queens, Rich
mond and Nassau showed a slight In
crease in the number OF deeds and mort
cages recorded, but the total number for
greater New York and surrounding coun-
ties was 241, 020 as compared with
c72,795 instruments for 1920. The
company's business In Brooklyn and
Queens showed an increase in earnings,
hut Manhattan, Staten Island and West
chester n decrease. The company's net
rrcfits for the year were s2.461.J62 tho
excess over, the total for the preceding
year being due chiefly to the fact that
the securities sold showed profit In
stead of a loss. as they did in 1920
Mr.. Kelsey also reports that the COM
peny's guaranteed first mortgage GER
tificates continue to increase in favor
OF the more than $55.000,000 in mort
cages sold by the company during the
year he says, s1S.0oO.000 were in the
form of these mortgage certificates.
which were taken up by seven thousand
separate investors. AS q result, he adds.
the company has been able to take big
mortgages without giving thought to the
Iossibility OF finding some large invest
ing institution to take them off Its hands.
The New York herald., 1922-01-22
Newark Meadows Station
Will Relieve Freight Jam

that necessary construction may go for
ward to meet demands Of increased
population and commodities of every
other character must be brought In from
every part OF the world that the needs
Of its population may be satisfied.
Jersey Meadows presents a wonder
full opportunity for freight terminals" I"
said Joseph p. Day. Here you have
unlimited ground tapped by the prin-
cipal trunk lines and their branches
operating to the South and West; also
water Of sufficient depth to care for
vessels of large size. That the mead
ows are suitable for comprehensive
development is shown by the fact that
many of the most important concerns
Of the country have located there. For
example may be stated the Ford COM
pany. United States Steel Corporation
and others who picked out this particu-
lar spot as being the most desirable one
in the East to suit their purposes. This
decision was reached only after most
careful survey of all the available tracts
of land Of size in and near New York
city having adequate transportation
facilities.
New York city produces nothing from
the ground, neither mineral nor vege-
table. Everything must be brought to
her. Therefore the tremendous need for
adequate freight transportation. The
city has expended more than $500. 900. 900
for bringing the water supply from the
Catskill Mountains--about 20 per cent.
OF the cost of the State Barge Canal.
estimated at s154.000.0o0, for bringing
freight to the port The last link, that
of proper distribution after the freight
arrives, is still lacking, and this must
be supplied in order to obtain the full
advantages of vast outlays.
There is but little doubt in my mind
that the new terminal at Kearny. N. j.,
will do much TO relieve the freight con-
gestion. simplify the handling OF goods
and save a large amount of time. and I
for one, who have the interests of the
city at heart, am glad to see progress
made along these lines"
The New York herald., 1922-01-22
FORT WASHINGTON AVENUE:
AND i9376 STREET AS tT
LOOKS TO-DAY.

be i've stories high. with basement. and
VIII be constructed of terra Gotta brick
and limestone There will be seventy
seven apartments of three, four and five
| rooms. It is expected that the buildings
will be ready for occupancy Juno l.
On the northeast corner Of Fort WASH
ington avenue and West 1880 street is
Fort Tryon Arms, q six story elevator
house Of 207 rooms completed last
spring. and now filed with tenants
Adjoining Fort Tryon Arms on the north
Rusrley Company. Inc, Alexander Nc
Dowell, president, Is constructing flve-
story and basement apartment house on
the east side Of Fort Washington ave-
nue., the building having q frontage Of
100 feet, with 4S apartments Of three
and four large rooms each. eight apart
ments to the floor.
About 200 feet north on the east side
Of Fort Washington avenue M. Solomon
4 Son, composed OF Morris Solomon and
Sigmund Solomon, who have been op-
Grating in Brooklyn for the past f1ftten
years. arc erecting two five story and
basement modern apartment houses.
which are now nearing completion.
These buildings will be ready for oc-
cupancy in several weeks, the builders
having moro demand for apartments
than they can fill Tho total operation.
land and buildings. represents an invest
ment OF approximately $4b0.000.
One of the many interesting develop
ments in tho section Is the Barnard
School for Girls. in Fort Washington
avenue at 1S6th street. the site for
which was sold to the school by Thomp-
son, Austin & Co.. Inc., who made large
purchases at tho auction sale In 1919
and are now one Of the largest holders
Of residential plots in the estate.
The sito II an ideal one for a school.
being on the highest point Of land on
Manhattan Island. opposite the Fort
Washington Monument and grounds,
dedicated some years ago to the city as
The New York herald., 1922-01-22

n conditions in the building industry
win permit honest construction the year
1872 will witness record breaking
building movement. judging from the
statements made by Clarence II. Kelsey.
president OF the Title Guarantee and
Trust Company. in his report submitted
90 the stockholders and trustees of the
organization at the annual meeting held
on January II. The report, however re-
fleets little confidence In the merits OF
the tax exemption ordinance. That meas
ure. Mr.. Kelsey declares. is merely hold
ing back the construction Of the cheaper
typo OF housing so sorely needed by che
poor.
I'VE are looking for a good year In
1884," says the report. Capital is ready
for investment in building IL only in
vestors can be assured that those who
build the houses will get their materials
at fair prices and that those who wori;
on the houses will do a fair days work
FOR q generous days pay. If we can
have honestly constructed buildings
there is no limit to the prosperity that
can come to the building industry in
New York city and its surroundings
during the coming year. Almost all sorts
OF construction are needed badly, and we
WiA Aihho WoAociAQA PtOSISSS buDSS
who supply the material and those who
do the work can only learn that they
suffer along with the rest Of the COM
naunity when the material man fixes un-
fair prices and the mechanic furnishes
only half a days work for a full days
pay. Real profits and real wages are
not increased by such methods. So
much more must be spent for the r,eces-
stiles and the pleasures Of life that the
real income IN much lower than it seems
and the amount in the bank at the end
or the year does not spell prosperity.
- fact is that the tax exemption
privilege on new construction is really
working to the disadvantage Of the peo-
plo who need housing relief most seri-
ously-the people who cannot pay more
than So or $40 room month. Tax
exemption Is creating boom in the con-
struction OF homes for the well to do
those who can pay s25 or more a room
&. month, and II It continues there will
soon be an overproduction of such space
and nothing will be done for the poorer
classes. Homes are not built for them
The New York herald., 1922-01-22
WHAT AUCTIONS Do FOR BUILDH

Because of the many elements that
enter into its makeup a building boom b
almost invariably slow thing to get
started on its way, but when 1t begins
to move forward 1t develops q momen-
tum that few obstacles can stop. No
better illustration OF this is to be had
than the activity now going ON In the
former James Gordon Bennett tract ON
Washington Heights. which acted as an
impenetrable barrier to the northward
trend of apartment house building until
II was sold at auction by Joseph p. Day
in June. 1919. To-day five large apart
ment houses are under construction and
sites will be cleared for as many more
within the next few weeks.
The transformation which the wand
of the builder has wrought In the neigh
borhood is apparent In the two contrast
ing Views of Fort Washington avenue
and 1880 street shown above. But there
are other improvements which arc oiling
the mechanism OF the building move
ment. Fort Washington Place and West
The New York herald., 1922-01-22

mington. Del. apartment house $foor-
900; In addition to which first mort
gage loans have been made on manu-
featuring plant. Chicago. H.. $2.25o.ooo,
and an office building. Dallas. Tex
$500, 900. with regard to tho building in-
dustry. s. W. etraus & Co. say:
There Is a continued Improvement
to be noted in underlying conditions OF
the building industry. and It is expected
that activities during tho ensuing year
viii be on q very heavy scale. There
is a healthy inquiry for capital for
building purposes. particularly for resi-
Dental improvements. ana larger pro-
portion Of tho outflow Of capital for
the building industry is being absorbed
In financing the construction OF these
types Of structures"
The New York herald., 1922-01-22
TO EXHIBIT FULL SIZE HOME.

A fun size model homo. completely
furnished and equipped. al ready to
move into. is to be erected as a feature
of the fourth annual own Your Homo"
Exposition, 10 be held in the Sixty-ninth
Regiment Armory, from April 20 to 80.
1t will be known as the Home Conven-
lent" This announcement was made
yesterday by William NJ Crane, presl-
dent OF the william M. Crane Company.
and chairman of the gas appliance COM
mittee OF the "Own Your Home" Expo
sition, at meeting OF this committee to
discuss the participation of the gas In
dustry at the exposition.
The New York herald., 1922-01-22
TO KEEP UP OPPOSITION
TO STATES RENT LAWS
Realtors Will Take Stand at
Albany Session.

It Is expected that continued opposi-
tion to the rent laws Will be voiced at a
meeting Of the executive committee OF
the New York State Association Of Real
Estate Boards of which H. III. Garfield
of Rochester is president, to be held at
the Hotel Ten Eyck in Albany on jan
uary 81 and 28. The session will also
enter into a detailed discussion OF the
housing shortage. The members of the
committee, which represents the real
estate interests Of twenty-seven cities
throughout the State, have opposed rent
laws in the past and have declared them
to be one OF the greatest drawbacks to
the production of more housing. ~'R
The State Realty Association viii sup
port legislation compelling fire and life
insurance companies to invest an ade-
quate percentage of their assets in real
estate mortgages and will ask for the
exemption from the State income tax OF
real estate mortgages up to $4,000. IT
has introduced a bill in the Legislature
to provide for the filing of accurate GER
titled maps and certificates Of title for
all subdivisions offered for sale. The
enactment OF such a law will prevent
fraudulent sales Of property from faxed
maps.
Special addresses will be made to the
realtors by Walter Law, State Tax Com
missioner: James Manning. president of
the National Savings Bank Of Albany
Berne A. Pyrke. Commissioner of Farms
and Markets, and Major e. c. Church
of the New York Port Authority. A
public meeting to discuss city planning
and zoning will also be held by the
Albany Realty Board. This meeting
will be addressed by Lawson Purdy and
George b. Ford of this city.
The delegates will be entertained at
dinner by the Albany Realty Board
on Friday night at the Fort Orange
Club and addresses will be made by
Supreme Court Justice Mclaughlin.
Meade c. Dobson is executive secretary
Of the State Association.
The New York herald., 1922-01-22
$l2,405, 900 IS LOANED
FOR NATIONS BUILDING

8. w. Etraus q Co. announce that
they have recently underwritten first
mortgage serial bond issues amounting
to s1s.4S5, 900. Tho list includes the fol-
lowing new housing projects through
out tho United States; Manhattan.
N. Y, two apartment houses, 1880, 900;
Tho Bronx. N. z. apartment house.
1880. 900; Brooklyn. apartment house,
s2l0.0 900; Chicago. ILL.,. apartment house.
$1,000. .oOo' Detroit. Mich. apartment
house. $1.26o.ooo; Omaha. Neb.. apart
ment hotel. $3.50. 900: San Francisco, CAL.
apartment house. $4,000; Philadelphia,
Pa. apartment house. s1.sooooo; WI
The New York herald., 1922-01-22

Washington avenue. development
which will add many delightful sites
for residential purposes to this high
class neighborhood.
Last week William H. Brown, builder.
began the erection OF a five and a half
story apartment building on the former
Bennett estate. at the southeast corner
of Fort Washington avenue and 1881
street. The building will have a 'front.'
age of 100 feet on Fort Washington ave-
nue. and 104 feet on West 1880 street.
consisting Of fifty-five apartments Of
three, four and five rooms. 1t will be Of
Colonial design. with courts and yards
finished similarly to the fronts. The re-
quired court space to light the rooms
The New York herald., 1922-01-22

Tho lack OF freight terminal facilities
for receiving and distributing all COM
modities, including building materials
and perishable goods, is so acute that
immediate steps must be taken to main
tain the supremacy OF the port OF New
York. That those goods may be handled
properly terminals convenient to trans
portation lines. rail or water, must be
erected so that the least amount OF ham
ding may be necessary.
A long step in that direction was taken
recently when part of the Engineers
Depot, at Kearny, n. J.. was converted
from a war center to terminal. The
depot is In the Lincoln Highway. be-
tween the Passaic and HaciSensack Riv-
ers, Just opposite the enormous Ford
Motor Company property, and separated
from Newark by the Passaic River and
within a radius of five miles of New
York City Hall. The depot comprised
about 70 acres. embracing properties of
several ownerships. The waterfront
part. owned by the Newark Plaster COM
pany. was leased recently to the Shupe
VIII be used by the w. +. Shupe Com
pany. which handles building materials.
Tho balance will be a terminal.
Although the Shupe company leased
only the waterfront of the depot 1t is
proposed to develop as terminal about
forty acres In the rear OF the waterfront
with a large frontage on the Lincoln
Highway and railroad connections with
the Pennsylvania Railroad. The tract of
land IL owned by the Newark Ports Ter
minal Corporation. from which the En-
sineers Depot leased its land during the
war.
Tho transaction Is OF vital I'M
portance. az the establishing of ter
rninai at that point offers unusually
good water and rail facilities because
materials can be received at that point
from all parts OF the world and delivered
TO every section of New York by motor
truck. The terminal will relieve a
great deal of congestion in New York
harbor. In which lighters frequently are
tied UP for indefinite periods with per-
ishable goods and other materials. The
Federal Government chose that section
during the war as a site for its main
engineering base and spent about $2.-
100000 on improvements. During tho
war II is estimated 100000 tons OF
equipment and materials were handled
by It
New York city and its metropolitan
zone are the greatest absorbers OF ma
terials of all kinds in this country.
Millions and millions OF tons OF building
material must be available constantly
The New York herald., 1922-01-22
ENGINEER TO TALK
ON AID ST. SUBWAY
Robert Rfdgway VIII Dischsa
Construction With Central
Zone Merchants.

Robert Ridgway, chief engineer ofvho
Transit Commission. win address Z
meeting Of the property owners ana
merchants Of the Forty-sscond stress
district in tho ballroom Of the HoeuS
Commodore at 1 p. M. to-murrow. The
meeting - to be directed By the Eorty.
second Street Property Owners ana
Merchants Association. Ino, ana was ar
ranged In order that property owners
and merchants in that district mig4as
have opportunity to get authentic infor-
nation on how construction Of thD
Greensboro subway extension will Affect
property and business along its rute.
oEvery prperty owner and business man
affected is invited to attend.
Mr.. Ridgway win discuss IN detafls
The effect Of tho Improvement on ahut-
ting property and answer questions per-
tanning to the extension. His address
will be illustrated by lantern slidea,
showing in detail the work to be ac-
complished. John Fl. Myers. division
engineer, and Stephen Schmidt, assistant
engineer, both Of the Transit Connm1s-
sion. will be at the maetsng - aid In
clarifying the subject Of Mr.. RidgwAyD
talk.
Trsvfs n. Whitney fbEznsr1y Public
berVlCc COmfulS81OQoT ina u m0mD6T 0I
the association, In q recent statement
urged every person owning property Or
business near the route TO be followed
by the subway extension along Forty
second street and under Torty-6rsU
street from Sixth avenue to Eighth ave-
nue. to be at the meeting.
"At this meeting" states Mr. Whitney
Mr. Ridgway will give out conplete
authentic information conoerning all d..
tails OF tho subway extension, inclus', -
locations of stations, stairways. metio
of construction, &c. In view Of the fav.
that Mr.. Ridgway Is in charge OF all
subway construction work, he Is the best
qualified man in the city to give out
such information. This win be q splen-
did opportunity for every ono interested
to obtain advance information.
1.-THE methods to be used in constructs
ing this subway will differ from those
used In the orig1nal subway, when busi-
mesa was greatly hindered. The Queenss
boro extension will be constructed With
out the usual impediments which In the
past have been almost rutnous to busi-
ness houses located along tho routes OF
subways. Mr.. Ridgway II In q position.
to give full details concerning the new
improved methods.
''The Greensboro subway extension Is
an Improvement which tho Forty-eecond
Street Property Owners and Merchants
Association, Inc, along with various
bodies in Queens Borough. has worked
very diligently to secure"
The New York herald., 1922-01-22

not facing on streets or yards VIII be
concentrated in ono large court opening
to Fort Washington avenue.
The building will be ready for occu-
pancy about Sept. /, 1922. George A.
Bagge & Sons are tho architects.
Abutting the above operation on tho
east are two apartment houses on Fort
Washington Place ana West 1880 street.
being erected by the Paragon Construc-
ton Company. Charles Cohen, presi-
dent: Samuel Behrman. secretary.
The buildings and land represent an
investment OF approximately $380,0o0.
md the Lawyers Mortgage Company
has granted a building and permanent
loan Of 100000. These buildings arc to
The New York herald., 1922-01-22

1s3d street to Fort Washington avenue
have been opened. graded and fitted up
with sewers and the main sewer in Fort
Washington avenue is now being COM
pleted to 18TH street The contract has
also been let for the opening. regulating.
grading and sewering OF Pinehurst ave-
nue. to Northern avenue with a connec-
ton through West 1880 street with Fort
The New York herald., 1922-01-22
Nexotiate. 100000 Mortgage.

The New York Title & Mortgage Com
pany is making building loan OF
s160,000 to the Kamtun Realty Com
pany, Inc. comprising l. Kamerman
and NJ TunilS on property at the north
east corner of st. Nicholas avenue and
ls9th street. The building Is q nve
story and basement apartment house.
The New York herald., 1922-01-22
Dsr Bronx Fiat naif Completed.

Work In rapidly progressing on tho
apartment house which is TO Cover the
entire block bounded by 1890 and 1e4th
streets. Park and Teller avenues. This
project. probably the largest Of It's kind
In The Bronx. ana ono OF the most
interesting In the entirc city, Is being
carried out by the Niowenhous Com
pany, Inc. engineers and builders. Mel
rose Court, as tho house IL to be known,
is Of tapestry brick and terra Gotta.
The main facades are approached
through n spacious court which win be
treated as a formal garden. The struc-
ture 10 already half up and about three
quarters of the apartments have been
leased
The New York herald., 1922-01-22
BROOKLYN MARKET.

Through the office Of Charles Part
ridge the two story and basement brick
two family dwelling at 616 st. Johns
Fiace, near Franklin avenue. has been
sold for Rose v. wertheimer, to client
The New York herald., 1922-01-22

REAL ESTATE AT AUCTION.