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Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Jan 26, 1908
Page
4
Real estate activity rose sharply last week with strong demand for vacant and improved parcels. Notable deals included Mrs. Margaret Sage buying 6 Sth Ave and Seymour L. Cromwell selling East 53d St house, while 22 Bronx sales totaled 245 850 amid cautious lending by banks and steady mortgage rates.
The passage lists names Scheuer Charles Singer W W Slocum W R Squire Franklin Stevens F L Vrooman and F M Welles with officers elected: President Otto Kempner Vice Presidents William A Lambert William Jeffery W R Squire Treasurer pro tem Frank Stevens Executive committee Frank Syevers William Jeffery James A Romeyn.
Plans filed with Superintendent Murphy show a total investment of 1.62 million for multiple Martan buildings. A 1 million dollar loft, a 200 thousand dollar office block, and six apartments totaling 420 thousand will be developed, with remodeling of two tenement houses at 162 2d St. by architect Henry Regelman. An 18 story office building for the Improved Property Holding Company at 505 5th Ave will replace a four story house, featuring brick facade with limestone and terra cotta trim and Corinthian pilasters at the 16th floor cornice.
The four and a half story American basement dwelling at No 339 West 71st Street was purchased last week by the V'alisade Health Company through the firm L J Phelps & Co.
Real estate activity picks up in The Bronx and New Jersey as parcels change hands and builders plan twenty three Bronx houses with costs around 364.30. Brokers report easier loans, more inquiries, and a shared belief that the tunnel linking New York and New Jersey will boost residential and industrial opportunities.
Meckim Mead and White acting for trustees of Knickerbocker Trust plan portico changes at Fifth Ave and 24th Street. They will remove marble steps flush with stylobate, add a floor staircase, remove a buttress ornament, lay a vault light, and install a granolithic sidewalk. Estimated cost is 5000 dollars. The Court of Appeals ruled the approach illegal encroachment.
At its annual meeting the New Jersey New York Real Estate Exchange elected a new board of governors. The roster includes George J. Bayles Asahel Chapin F W Creighton Joseph P Day Joseph W Doolittle A Feist Albion N Fellows Elston M French J E Grape John Haas Jesse L Heiden Stoeard Irsehmen Philin Hover Willem Jeffers Edward Kanaler Otto Kerp Es 14 Lambert William A Lambert David Lippman James A Romeyn H A Rounds Thomas A Ryer S mer.
Maynicke and Franke are the architects. A sixteen story commercial building for Philip Braender and a Manhattan real estate investor is planned at the southwest corner of Broadway and with it. It will measure 80.5 by 110 feet, use fireproof construction, brick facades with limestone and terra cotta, and feature decorative elements including curved owls and pilasters. The architect William Frohme quotes a cost of $1,000,000.
Slawson and Hobbs sold the five story apartment at the southeast corner of St Nicholas Ave and 171st Street for Agnes Livingston to a client for investment. The property is No 568 West 171st Street. A second sale to a client for investment involved Charles Stuart and a five story building at 221 West 100th Street.
Attorneys for the Lion Mountain Railroad flee a petition in federal court asking an injunction against the Arkansas Railroad Commission. They challenge actions to collect penalties claimed from the Western Coal and Mining Company of Spadra. Case set for February 4.
Multiple bankruptcy petitions were filed today in U S District Courts with assets and liabilities ranging from hundreds of thousands to millions. Portland reports Drew Plantation lumberman M F E Sprague filing for voluntary bankruptcy with assets $690 153 and liabilities $658 946. Boston notes Bernard Davis filing for bankruptcy with $456 487 liabilities and doubtful assets. Chicago cites Cream City Park Amusement Co with $160 000 liabilities and $5 000 in assets. Reading Massachusetts reports hardware workers on a fifty hour week as market improves. North Attleboro plans liquidation of Jewellers National Bank with 10 percent stockholder assessment. Pottsville resumes operations at Eastern Steel with about one thousand workers returning.
Kenry Clews & Co. foresees a fluctuating market with no clear direction as favorable money conditions contrast with weak business conditions. They expect selective buying on breaks and selling on rallies, noting a pending business readjustment and potential revival once prices settle. Grannis & Lawrence call last week reactionary after an early year rise, with lower rates boosting bonds and equities. McIntyre & Co. says a genuine bull market is out of reach, citing widespread liquidation and abundant cheap money ready for reinvestment.
Lisbon Ohio January 25 George B Harvey proprietor of the Lisbon Banking Company assigned today to Albert G Mason and the bank is closed. Harvey's real and personal property is estimated at 125 dollars while bank deposits total about 150000 dollars.
Dudley Butler, expelled for rule infractions tied to the Butler Johnson failure last October, has been reinstated to full membership by a two thirds vote of the Consolidated Stock Exchange board of governors.
The Bureau of Charities appeals for 75 to aid a Swedish family with four children aged eight to two while the father has foot surgery and for 6 to aid a family with five children aged eleven to two as the husband battles advanced tuberculosis. Contributions go to the bureau’s central office at 69 Schermerhorn Street Brooklyn. Checks payable to William I Nichols, general secretary.
In Providence on January 23 Justice Sweet postponed the permanent receiver hearing for Union Trust Company until February. Depositors counsel presented a statement showing a balance against the company while reports claimed 1,627 shares of new stock had been issued and 30 shares released.
The Treasury's opening figure shows reserve fund gold coin and bullion and trust funds to redeem outstanding certificates. It notes silver dollars and the 1890 silver dollar in circulation and the status of redeemable certificates.
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