Evening journal., 1922-06-22
MORE THAN 800
! DAILY IN RENTS
FOR SPECULATOR

(continued From First Page.)
ling to see that something is done
soon.
c. W. wenzing, who was manager
OF the Gardens properties from the
Z time the Wilmington Housing Com
!, pany bought the land for the Gar
dens up TO the time the United
States shipping Board decided to
sell them at public auction, Febru-
airy p last. today estimated that ap-
proximately $4,000 a month was
s being received by the board in
{ rentals, or 5000 a day for all the
( properties. As title has been con-
veyed to some OF the properties the
rentals now being paid will be more
than $500 a day
The original 5000 day is cut
down proportionately as titles TO
Z houses are passed to the bona-fide
purchasers, and the longer the pass
ing Of titles is delayed just so long
will rentals pour in for A. NJ. Green
field. who bought the properties
from the government. and who gets
( the rentals of all houses from June
+ to the day title is passed to the
+ Individual purchaser.
In addition to that. the Green
field interests received from the Ship
ping Board a lump sum covering
) rentals from February % to June
under the terms OF its deal with the
Shipping Board. and the Shipping
b Board through its agent. the Liberty
Land Company. is now collecting
rents for the period from February
81 10 June 10 reimburse Itself.
Since June rental revenues from
the houses up to the day OF settle
. ment go to Greenfield.
Eugene Cornell. who represents
A. NJ. Greenfield. Philadelphia realty
broker, who has taken over the
entire Garden plot and properties
from the Shipping Board. and who /
has established his local office in the /
Liberty Land Company's premises, /
2104 Lancaster avenue. today de- |
clared that there was no need OF I
employing additional help" 10 ex-
pedite the transfers OF deeds. that
The Evening Journal was going too
strong" and that he expected to
live up to his proposal to make
settlements at a rate Of from ffteen
10 twenty a day"
When asked how many transfers
he expected to make today. Mr.. Cor
nell refused to answer.
Jacob A. Berger. secretary and 4
treasurer of the Greenfield Company,
Philadelphia. was reached by long
distance phone and said his COM
pany "was doing everything possible !
to expedite the transfers Of titles"
but that it had been delayed by the
slowness of the general transfer OF {
the properties from the Shipping I
Board to the Greenfield Company" &
Mr.. Greenfield. he said. was still in
the United States and did not expect
10 join his family in Europe before
the middle OF July Mr.. Berger also
stated that the general title to the
Gardens homes had been placed in
the name Of Miss Margaret Wiggin
IN order to simplify the transfers.
49, Exposure by The Evening Journal
yesterday Of the causes for the,delay
OF three months in giving purchas- |
ers Of the 500 Union Park Gardens {
properties titles TO their homes has
resulted in n vertible host OF COM {
letters and telephone -
,aNs 8
In addition. however The Journal d
oday is able to give more OF an in s
tde exp anation OF why hundreds Of II
vilmingfonians who bought the b
iouses are being deprived OF their
ise and are compelled to pay rent il
instead of paying off the purchase
rice. n
Mr.. Wenzing. who. as before stated n
vas general manager OF the Union h
Park Gardens properties up TO the Il
'me of their sale In February last c
o ind vidual purchasers. made the II
ollowlng statement: al
Settlements were to be made on 4
r about April Srd. Purchasers we're
iven to understand and were under n
he impression that they were buy ''
1g these properties from the Lib
riy Land Comnany4 which was the 81
'Dted States Government j
purchasers. also. expected and Il
'ere given TO understand that they G.
-ouid get deeds from the Liberty Of
and Company and United States W
government and expected to receive II
lir and just treatment from them b,
nd thereby were Influenced to pur- al
hase the houses. 70
Purchasers understood that good b,
tie was to he given for the proper Of
es by the Liberty Land Company, u,
nd that the only charges would be ST
bout SIS for title insurance in case
mortgage, necessary revenue m
lamps and usual charge for record Il,
lg and necessary fire insurance and AZ
djustment OF rents. taxes and water m
ent. which is set forth in Article "a
, in agreement Of purchase. no "
haree is mentioned for preparation III
4 papers. IN
Yet on the other hand. pur- n,
BRAIN TESTS. pi