davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1922-12-03

TIIE Potter Avenue Realty Com
pany. which has erected 200 one
family houses and noarly 100 two
family houses in the East River Park
section Of Astoria on land purchased
from the Rickert-Brown Realty Com
pany, announces that IL has taken over
242 more lots on Chauncey Barclay,
Goodrich and Merchant streets and Van
Alst avenue IN the same development,
on which Il viii erect one family eight
room brick houses. The company also
has taken over i27 lots on Ditmars ave-
nue. on which It has begun tho construc-
ton Of 102 two family houses containing
eleven rooms IL has acquired also ten
lots on Potter avenue. between Merchant
and Goodrich streets, on which II will
build two story store and apartment
buildings.
Tho Potter Avenue Realty Company
os which David w. Keen and Henry r..
Saltman are managing directors. an
nohnccd last week that Il had adopted
n now selling plan. whereby a purchaser
with s1oo can pick out home OF Q lot
The New York herald., 1922-12-03
,AUCTEONEER TO OFFER
LOTS IN WEST BRONX
J. G. Douies viii Conduct
Sale December ~.

Eighty-one lots on 10th and 177th
streets. fremont. Grand and Davidson
avenues and fifteen lots on Acqueduc:
avenue. between l90th and 192d streets,
are to be sold at auction for the estate
of tho late julius Lowcnthal and others
on December IL in the Vesey Street
Exchange by J. Clarence Davies.
The lots are on high rolling ground
especially adapted for building sites
The Immediate section is well developed
with private dwellings and the sur
rounding section Is rapidly being de-
veloped with apartment houses.
The section is no further from the
heart OF the city than Is Washington
Heights. 1t is reached by means of
the Jerome avenue extension OF the
Lexington avenue subway to 176th
street. Lots in the Washington Heights
section are selling at from two to three
times the prices that are being asked
for lots in the west Bronx district.
The New York herald., 1922-12-03
REALTY LICENSE
LAW Is UPHELD
Supreme Court Affirms Valid
ity of Brokers' Enactment
in Tennessee.

The action OF the. United States SUI
preme Court when It upheld the validity
OF tho brokers license law in the state
Of Tennessee was the most note
worthy legal decision directly af-
fectlng the business of real estate
ever rendered by that judicial body,
according to the Real Estate Board
Of New York. BY that decision the
power of the several States to regulate
the real estate business by law is
affirmed as a proper exercise OF police
power under the Constitution. and the
Tennessee law is declared TO be valid In
all of its provisions. In a statement
issued regarding the importance of the
decision. the New York Board says;
1.-THE National Association of Real
Estate Boards has been vitally inter-
ested in this case and through its gen
eral counsel, Nathan William MacChes-
ney, prepared the briefs and arguments
which were presented TO the Supreme
Court. Officers OF the association are
elated with the outcome OF the case and
are now assured that as far as the
courts are concerned at least the pro-
prlety and desirability of regulating the
real estate business for the benefit of the
public has been forever determined.
The Tennessee real estate license law
was adopted In 1921 and was based upon
the model license law prepared by the
National Association In 1915 Some
months ago, i'm a case known as II. w.
Bratton VS. William Chandler, the
United States District Court Of the
Western District of Tennessee held that
this law was unconstitutional as being
in violation OF the Fourteenth Amend
ment Of tho Constitution Of the United
sta tes and certain classes OF the con-
r. "a
ton was issued restraining the Tonnos-
see Real Estate Commission from en-
forcing II. Aside from the general ques-
tons involved, the court held the law
TO bc void because in it, opinion q man
might be deprived OF his lawful rights
To engage In business without due
notice and hearing"
The case was appealed directly to the
United states Supreme Court. which
reversed the findings of tho lower court
In It's decision. which ia technical IN
phraseology. the Supreme Court holds
that
/. Regulation az the real estate BUSH
ness is constitutional.
2. The Tennessee statute will not de-
prive any one Of rights without due
process Of law"
3. Action under the statute Is in
tended 10 be open and direct. not to be
remitted IN any part TO secrecy. preju-
dice and intrigue"
(. 'The statute is drawn With care to
details and their Importance 10 the busi-
ness regulated and the persons who VIII
dasirn 70 engage IN 70
8 THE act construed a. We conatrue
Z will take no power from the commits
sion neceggssy % the performance OF tie
duti4-. and viii leave no power with
Il that e can exercise to the detriment
a.. na. 80 for
a license by tho Constitution of the
United States"
s. THE decision OF tho lower court
ordering a temporary Injunction he re-
yerscd and the validity OF tho act be
sustained
The New York herald., 1922-12-03
Optimism Is Keynote OF
Lending Market Outlook
BY HAROLD w. WATSON.
Auuaacr Mortgage Department D,woss Company.

tmcNt DiTOSS Company.
bored by many or our lenders in former
wears have been dissipated by the in
fux OF competitive Investors from other
States. who have loaned vast sums on
liberal bases secured by mortgages.
against which bonds bearing attractive
rates OF interest were issued and sold
to investors in large or small amounts
A few years ago a mortgage loan of
100000 covering property was a
much talked about transaction. To-day
many financing companies make indi-
vidual loans of several millions of dol
iars It is said that in one instance the
lenders made a. net profit OF more tnan
81, 100000 in selling in six weeks
bond issue covering one parcel. EXIST
ing conditions serve to show that we are
conducting business on much larger
and more liberal scale than in pre-war
days.
Returning to the housing situation. al
though there has been a great shortage
In space, that alone is not responsible
for the continued demand for new build
ings. because with bettered financial
conditions hosts OF people are forsak-
Mig the old style of living and demand
ing more habitable, up to date sur
roundings, healthy sign OF the times
and one which merits financial support
The outlook Is one OF optimism as
coupled with the vast amount OF capital
that our many institutions and mort
gage companies are able to invest. II rs
noticeable that former private lenders.
tired OF the uncertain trend of the bond
and stock market, are returning steadily
TO the real estate field. many OF them.
having sold their foreign holdings and
other wavering securities. are Offering
very substantial sums FOR investment on
mortgages at the prevailing rate, all of
which. no doubt. Will bring out soon con-
siderable capital for investment at
per cent.
The New York herald., 1922-12-03

T TIP on West Seventy-second street a
silent warfare Is going on be-
tween the invasion OF business
and the efforts OF the residential classes
TO keep the street as it -isss always
been up to about twelve years ago. a
thorcrghfs-e of distinctive New York
homes. The battle has in a large
measure been lost by those who have
striven to maintain its residential
character. Already business Of varied
type has invaded the block between Co
lmbus avenue and Broadway. and now
a. bitter fight Is being waged to lift the
restrictions against business in the block
between Broadway and West End ave-
nue.. Expert observers who have been
watching the effects Of the invasion Of
business in tho block between Columbus
avenue and Broadway predict that with
trade will begin to pour IN q westward
direction toward Riverside Drive.
Once the restrictions are lifted from
the block between Broadway and West
End avenue where the fight II now GEN.
tering. 1t Is believed that It will be but
a question of time before trade will be
reigning between Columbus avenue and
Riverside Drive. The marked change
that has come over West Seventy second
street in the last decade. where old
brownstone four story and basement
residences have given way to florist
shops. dressmaking establishments, res
taurants. oculists' shops and even auto
mobile salesrooms. would lead one to
@lxaA - x~t(lt
eventually rival Fifty-seventh or even
Forty-second street as the domain Of
trade. 1t should be borne in mind. how
ever. that Seventy-second street does not
extend from river to river. Central Park
forces its way as q barrier though the
street, thus giving 1t but q brief opportu-
nifty to rival its downtown exemplars.
Seventy street between the
park and West End avenue Is even now
the most promising busipess thorough
faro north Of F1fty-seventh street.
Movement Is Northward.
For several years the apartment elotel
district has been extending northward
from the Times Square and Grand Gen.
trail districts. The automobile trade
has been rolling up Broadway at q
rapid rate ahd now the theater district
Fifty-ninrh street and is on the north
ward march toward Eighty-sixth street.
Apartment hotels are rising like lnush-
rooms in the neighborhood Of Broad
way and Seventy-second street and that
part OF Seventy-second street between
Broadway and Columbus avenue
stretches between the express subway
station at Broadway and the Ninth
avenue "L' station. These are two
important stations from the transit
point OF view and together with the
vast. increase in population west OF
Central Park and north Of Fifty-ninth
lstreet they are compelling a local shop
ping center OF an exclusive type which
Broadway. now largely given over to
the automobile trade. cannot supply.
In this connection of demand and
supply of business space the interests
that are fighting the opening up OF
Seventy-second street to business west
of Broadway base their claim that there
is no real reason for doing away with
what residential space there is In this
neiglrborhood because, as Victor Nj.
Earle of Earle G. Calhoun. brokers. points
out there is moro store space on Broad
way and Amsterdam avenue than can be
The New York herald., 1922-12-03
BUYS FINE MoNTCLAIR PLACE.
LacI<nvsnuna Railroad official
Acquires Harding Estate.

y. T.. Rine. vice-presidont and general
manaeer Of the Tack0wanna Railroad.
has purchased the estate Of Mrs. r. NJ.
Harding IN rTookwood. Montclair. y. ]
through r VI. Crawley Brothers. The
residence contains fourteen rooms and
four baths. The plot fronts i50 feet on
Stonebridge ROAD and has depth OF
40 feet The property was held a,
eTtoo0
Mccain Agency. Inc. sold at New
Rochelle for Herbert Guthrie his resi-
dcncc. West Castle Place. held st SIS 900.
10 George VI. Wallace for Grace En-
singer a residence in Rochelle Heights.
held az s2s,o00 to Leonard Josephie Of
This city: for Harry E. Oseood. rest
enco'in sutton Manor, held at $4,000. /.
Ndam Kistinger. and for Elisabeth
- an,ubcli A residence in Forest Heights
10 George Alexander os this city.
The New York herald., 1922-12-03
NEW BOOKKEEPING PLAN.
Aims 20 standnrdi,e Real
Estate Accounting.

George Hyde. 1es Fifth avenue. has
perfected arnew system OF standarriiz-
ing realty bookkeeping which enables
owners. operators. agents. &c. to keep
in one book a complete set of accounts
for each apartment house or building
with the names OF the tenants, the
rentals OF each apartment and sum
mary of expenses. IN this way a
monthly budget Is readily prepared.
MANY owners" says Mr.. Hyde. can
not tell at glance OF their books
whether their buildings are paying
This is an age of mass buying and
the owner who would place fifteen diff
fcrent orders for coal with as many
dealers is Inefficient to a great degree.
The same thing applies 20 Keeping one
ret Of books for all properties. II often
leads to wrong conclusions as TO profits
and losses"
The New York herald., 1922-12-03

NONSERNATlNE trst mortgage
loans on improved real estate in
varfably have proved the most
satisfactory form of investment, and
during the construction and ~econstruc-
ton period Of the last four or five years
money has been in great demand at
rates varying from 6 per cent. and more.
In some States S per cent. was consid-
cred reasonable.
There is every indication that per
cent, which has held for several years
in this city. has more or less settled
down to q 81. per cent. basis in Man
haitian. and good sized conservative
loans have been placed on Bronx prop
critics at that rate. Although there was
"A recent furry OF per cent. for Man
haitian mortgages. il cannot be taken as
AN indication OF cheaper money avail
able iuf quantity at the present time, as
the few loans made were based on a
low percentage OF values.
In Queens millions Of dollars have
been absorbed in the construction OF
new one and two family dwellings and
apartment houses. II is noteworthy
that the Metropolitan Life Insurance
Company has been the prime factor In
providing large amounts Of capital for
ftdSOHhDle COsts AoT lloSe Pui poSSS'
thereby assuring homes for thousands
Of families. IL was stated recently that
two large savings institutions in Man
haitian had been looking over Queens
with the view OF making mortgage in
vestments. Consequently with pros
poets of mild winter, the housing situ-
alton should be we'll on the road TO So
luton.
II is difficult to reconcile the present
market with the business OF fifteen or
even ten years ago, az narrow ideas
under the guise OF conservation. har-
The New York herald., 1922-12-03
BROKER BECOMES AUTHOR.
j. CiydesdaIe Cushman Writes on
Building Management.

The day Of the building with the hand
rope elevator has passed. at least In
New York. So also has the idea OF one
man management of the great sky
s.rapers of the metropolis. Keeping
pace with the development Of the mod
EN- skyscraper. the scientific manage
rrent OF business buildings has become
an established vocation in itself--a
highly specialized profession.
To explain in some degree how eco
nomically. effectively and thoroughly
and orofitabiy the agents of these big
structures can operate the buildings FOR
their owners. ]. Clydesdale Cushman OF
C,shman & Wakefield has written a
booklet on Management" a treatise
81 sowing how modern business buildings
ore Operated.
The New York herald., 1922-12-03
NEW BANK For CORONA.

Ground was broken yesterday for the
building that will be owned and occu-
pied by the Greensboro National Bank
at Jackson avenue and F'orty-sixth
street, Corona. The building will be
completed early next year. This bank
has just been organized among busi-
ness men OF the Corona section. J.
Peter Netting Is chairman Of the COM
mittee on organization.
The New York herald., 1922-12-03
TO AUCTION WEST SIDE Loft.

Tho five story loft and tho frame
house at "a Eighth avenue and 26o-262
West Twenty-eighth street will be sold
az auction on December g. by Joseph T.
Day In the vesey street Exchange by
order Of John r. Couch. referee in a
partition proceeding.
The New York herald., 1922-12-03
TENEMENT HOUSE SALES.

A. O. Orza sold the tenement at 1924
Perry street for the Rovegno & Yialotti
Realty Company, Inc, TO an investor;
also for Julia NJ. Cohn 80 Carmne
street. four story. tenement.
The New York herald., 1922-12-03

"ONSERVATIVE first mortgage
I loans on improved real estate in
yariably have proved the most
The New York herald., 1922-12-03

TITO BECOME really big and stay big 1
any institution or business must
fulfill n great want. meet a great /
New-York tribune., 1922-05-16
Valentino Marriage Is
Held Void in California
Screen Actors Wedding to
Winifrcd Hudnut Said to Con.
stitute Bigany

Los ANGELES, May 15.~ The mar
riagc of Rodolpn Valentino. screen
actor. and Miss Winifred Hudnut, mo-
ton picture art director, which was
soemnized at Mexicalia, Mexico, last
Saturday, is void in California, and the
| bridegroom has made himself subject
to criminal process, according to judges
OF the Superior Court here.
This condition is due to the fact that
the interlocutory decree of divorce
Valentino obtained from Jean Ackers
his first wife, on January 10, 1922, will
not become final until next January
In the mean time, according to the
Judges, Valentino is still married to
Miss Ackers.
Judge J. W. Summerfeld, of the Di-
vorce Court. said the entry of an inter
locutory decree Of divorce was nothing
more than an order of the court that,
nothing interfering, the parties would
be entitled to divorce after year
had elapsed. If they attempted another
marriage within that year, he said, the
result was bigamy.
Inquiry at the Lasky Studios. where
Valentino is employed, brought the in.
formation that he was out Of town for
three weeks.
New-York tribune., 1922-05-16
Hague Asks Hylan's Help
In Tunnel Entry Protest
Commission May Hear Demand
for Wider Approaches ON
Jersey Side TODAY

Mayor Frank Hague, Of Jersey City
following the appeal last week to 1O(
mayors in New Jersey for cooperate or
in his fight with the Nchicular Tunne1
Commission "for safe and adeouate
approaches to the interstate tunnel or
the Jersey side" wrote to Mayor
Hylan yesterday asking him for his
support.
Mayor Hague makes the point that
New Workers arc as vitality interested
in safe approaches and in widencd
streets at the tunnel mouth in Jersey
City as are the people of New Jersey
for millions of New Workers will use
the $2S,000,000 improvement when it is
completed in 1925 between Cana
Street, Manhattan, and Twelfth Street.
Jersey City. If the approaches are un-
safe and congestion is not avoided,
Mayor Hague declares. accidents and
loss Of lie and property are likely to
result to New Workers and New Jersey
people alike.
The Tunnel Commission meets to-
day in the Hall Of Records here and
Mayor Hague's appeal to Mayor Hyan
may come up for discussion. Mr.
Hague has protested against the plans
Of the commission covering the ap-
proaches on the New Jersey side be
cause, he contends, they are neither
adequate nor safe to handle he amount
of vehicular traffic which the tube will
be called upon to accom- odate.
New-York tribune., 1922-05-16
Herrick, of Beauty Fame,
Now an Aerial Daredevil
Congressman Promises to Do a
Tail Spin Over Capitol if
Weather Permits

From The Tr,buuc's Washington Bureau
WASHINGTON. May 10. - Congress
was formally notified to-day to prepare
for another thrill from Representa tive
Manuel Herrick. the Oklahoma mem
Der who attained prominence recently
with his campaign against beauty CON
tests and resultant clashes with beau
ties. their parents, brothers, sweet
hearts and libel and breach of promise
lawyers The Oklahoman issued the
following statement for himself
Manuel Hcrrick, the aerial daredevil
Of Congress, will give an exhibition of
daring stunts flying over the Capitol
and the city of Washington at 4:50 or
Tuesday evening, May 1s.
"Program;
Leave Boiling Field at 4:4o and pro-
ceed to Union Depot. First nose dive
over the depot about 4:5o. He will
then proceed to loop the loop, tail spin
and do the falling leaf and all of the
stunts of which a daredevil aviator is
capable. In case Of rain or other bad
weather this show will be held the
next clear day"
New-York tribune., 1922-05-16
Hylan's Tenement House
Chief Laughs at Critics
Says Mayor Hasn't Mentioned
Washington Heights Protest
Tern,ing Him A ''Disgrace''

Frank Mann, Tenement House Com.
missioner, declared yesterday that he
had received no communication from
Mayor Hylan concerning q resolution
said to have been sent to the Mayor by
the Washington Heights Tenants AS.
sociation asking the rem oval from office
Of Mr.. Mann because of what the as
socia alton asserted to be his failure to
abate 100000 violations oil the tene-
ment house law
The resolutions. which were made
public by Harry Allen Ely, chairman
Of the association, and which also at
tackled number Of Municipal Court
decisions in tenant landlord litigation,
termed Mr.. Manns management of his
department "a disgrace. and dctrimc en-
ia to the health and welfare of the
people,
Although he said that he did not
care to engage in newspaper contro-
versies with Mr. Ely" Commissioner
Mann declared that the latter zap
peared to be indicting everybody" and
questioned his right to speak for any
great number of residents of the
Washington Heights section.
81 understand he runs little paper
in Washington Heights said the Com
missioner. "Doubtless his attack on
me is prompted by a desire for pub
licity for his publication and himself,
so that he may shine in the eyes of
Washington Heights as fearless de-
fender of the public, or something Of
the sort.
"lve heard also that he claims to
represent some 100000 tenants of
New York City, whereas the number
much more probably is two-hims If
and somebody else"
New-York tribune., 1922-05-16
Arraign Henry Morse Tomorrow
Special Dispatch to The Tribune

rpCtiuf CtSUuttN 70 HS iiiOUHc
HARTFORD, Conn, May 15.-On q
Federal warrant issued here to-day
Henry Morse, son of Charles W. Morse
will be arraigned Wednesday forenoon
in Bridgeport before United States
Corn missioner Hugh Lavery. The war
rant was issued on receipt OF g copy
of the New York indictment, charg-
ing misuse of the mails in conspiracy
to dcfraud in connection with the
manipulation of the Morse shipping
interests.
Henry Morse resides in Greenwich
ard comes within the jurisdiction OF
the Connecticut district. His counsel
in this state, Carl Foster, Of Bridge
port, has agreed to have his client
present at 4 hearing before Commits
sioner Lavery at Bridgeport Wedncs
day at 10 o'clock. A conference will be
held tomorrow between Mr.. Foster and
New York attorneys for the Morscs,
when it will be determined whether TO
fight cxtradtion to New York or to
consent to an order of removal Much
OF the shipping business Of the Morse
interests was carried on at the plant of
tho Groton Iron Works at Groton, near
Now London
New-York tribune., 1922-05-16
Quarter of Million
Still Out of Work
Here, Says Sullivan
Municipal Bureau Director
Calls Improvement Slow
and Gradual and Expects
Trouble Again in Fall

While the unemployment situation
in New York City is improving the
gain is both gradual and slow and is
apparent more in the number of jobs
now being offered than in any percep-
tble reduction Of the jobless men and
women who are going about seeking
work, it was said yesterday by John
Sullivan, director of the Municipal In
dustrial Aid Bureau.
Mr.. Sullivan's statements were based
largely on his taking issue with pub
ished article emanating from Washing
ton, in which it was said that current
reports as to q shortage Of workers inIi-
Gated that the unemployment wave
which began about a year ago will
soon be matter of industrial history
This may be true of some sections
of the country said Mr.. Sullivan, "blt
it has little, if any, bearing on condi-
tions in New York City.
"Unquestionably more jobs are being
offered right along, a fact which facili-
tates the carrying out Of this bureau S
policy of placing the right man in the
right job. but the number Of men and
women out of work and earnestly look
ing for it appears to be nearly as
great as during the height Of the un-
nploymcnt crisis of the fall and eariy
winter months.
"At that time it was estimated there
were 100000 persons out of work in
greater New York. A conservative es-
innate Of the number at the present
time would be 25O,000. One need only
remain at this bureau a few hours and
talk to the applicants, many the heads
Of families, who express a willingness
TO do anything to obtain convincing
evidence that this is So"
Mr.. Sullivan said that since the bu-
reau had been created last September
29,425 job seekers had been registered
in its files, 18,085 had been referred to
employers for positions and 11,429 had
been placed.
He said that while the unemployment
situation locally doubtless would con
tinue it's gradual improvement, due IN
part to seasonal work, there probably
would be slump beginning i'll the late
summer months.
81 am confident that the acute unem-
ployment crisis has passed." he said,
"but | believe there will be a recur-
renee next fall. This, however, proba-
bly, will not. be so serious as was the
last