Record and Guide





, ■".*'j





May 13,1899.





ject of the designer's genius for novelty either in arrangement
or finish. Generally, the layout of" this floor consists of parlor,
foyer, dining room and butler's pantry, but the form and dis¬
position varies with each house. Mr, Buek has always been
successful in presenting attractive and artistic interiors, and in
this operation he has produced beautiful rooms by painstaking
combinations of woods, tiles and hardware, among which the
hirds-eye maple and white enamel parlors are sure to be par¬
ticularly commended. The same care for varied detail is found
in the bedroom floors, where the rich effects of hazel predominate
and the disposition of the rooms, dressing saloons and bathrooms
la at once practical and engaging.

Some of the major differences, or rather the special features of
individual houses, have yet to be mentioned. For instance,
while No. 310 has a 3-story pantry extension. No. 312 has the
same and an elevator; No. 316 and 318 have a 4-story extension,
and No. 320 a 3-story smoking roora extension; while No. 322 has
a 3-story dining roora extension; No. 324 has a bay front, with
octagon rear; No. 326. a swell front and rear and an elevator.
Each house has three perfectly furnished and fitted tiled and
panelled bathrooms, servants' stairs to second and third stories
and separate servants' quarters and bathroom. Where there are
elevators the shafts are fireproof. The kitchens, pantries, and
offices are complete in every particular. The heating is by hot-
air, supplemented by gas logs, or fireplaces. Pneumatic com¬
munications run from all over the houses to an enumerator in
the kitchens. All the materials and furnishings and workman¬
ship are in every particular first-class, up-to-date and practical.

As to location, that is especially good, being on the highest
point in the vicinity and commanding all the attractions of the
Riverside Drive and Central Park; the transit services and the
other conveniences that have made the West Side the ideal resi¬
dence section of the city.

Prices of these houses are quite moderate and the terms gener¬
ous. The houses are always open to inspection without permits
and the owner will be glad to answer inquiries of intending buy¬
ers during all business hours at his office No. 109 West 42d street





THE   REAL   ESTATE    EXCHAKGE   AND   AUCTION   ROOM, LTD

Under a contract signed on Wednesday "the New York Realty.
Bond, Exchange and Trust Co., will take title on or before June
12 to the property of the Real Estate Exchange and Auction
Room, Limited, at Nos. 59 to 65 Liberty street, the consideration
being $580,000 in cash. The action of the Committee on Sale of
Building, which was appointed about IS months ago, when it
was determined to wind up the affairs of the exchange, was con¬
firmed yesterday by the Board of Directors. The sale includes
the information bureau and other belongings of the exchange,
with the exception of the portraits of presidents in the directors'
room. The portraits will be presented to the originals or their
families. So soon as the purchase money has been received into
the treasury a meeting of the stockholders will be called to au¬
thorize its distribution. According to President Harnett, each
stockholder will receive the par value of his holding. The sales
of its property means the abandonment of the franchise and the
dissolution of the exchange, which for many years has exerted
an important influence on real estate interests. Under the build¬
ing law it exercised the right of appointing a member of the Board
of Examiners of the Building Department, and it did valuable
service to property owners no less than the real estate profession
by taking position on public questions affecting their interests,
such, for instance, as rapid transit, taxation, consolidation, etc.

The Real Estate Exchange and Auction Room, Limited, was
organized in 1883. with Edward H. Ludlow as its first president,
and Richard V. Harnett, H. H. Cammann. Leopold Friedman,
Albert Bellamy, Samuel F. Jayne, S. Van Rensselaer Cruger,
Isaac Honig, George R. Scott, E. A. Crulkshank. John H. Sher¬
wood. James Stokes and David G. Croly, at that time editor of
the Real Estate Record and Guide, as its first board of directors.
It took possession of the Liberty street property in April, 1885,
when the auctioneers abandoned their quarters at No. Ill Broad¬
way, where sales had been held since 1803. Since its organiza¬
tion every real estate broker and auctioneer of standing in the
community has been a member of the exchange, and E. H. Lud¬
low, H. H. Cammann, E. A. Crulkshank, George Hobart Scott
Geo. R. Read, George de Porest Barton,. Douglas Robinson, Al¬
fred E. Marling, and Richard V. Harnett, have been its
successive presidents. The removal of the legal sales back to
No. Ill Broadway, in 1892. proved to be the beginning of the end
of the exchange. Tiie exchange property contains about 7,818
square feet. Allowing $32,740 for the furniture and records and
for the expenses of sale, leaves $553,000—the purchase
price of the property—or $70 per square foot. The last capital
account of the exchange, published Nov. 15, 1S98, showed that
the assets consisted of the real property, which cost originally
.^422,844.24; besides alterations and improvements, $149,386.36,
and records, maps, and fixtures, $12,053.60, making a total of
$584,884.20. The liabilities were: Capital stock, $500,000; mort¬
gage to United States Trust Company, $73,000 at 4 per oent;
balance, $11,884.20; total, $584,884,20. The price paid for the
property, $580,000, is expected to make the stock of the Real
Estate Exchange and Auction Room worth par. It has been sell¬
ing for several years at from 70 to 82. The liquidation of the
exchange was decided upon about eighteen months ago. when a
committee of sale was appointed.   The brokers In the sale were





Richard V. Harnett & Co. By way of historical interest it may
be noted that the Real Estate Exchange Building, originally the
Marquand Building, occupies about two-thirds of the site of the
old Quaker meeting-house and graveyard, placed at the begin¬
ning of the 18th century on what was then the northwest corner
of Crowne and Little Greene streets.

The New York Realty, Bond, Exchange and Trust Company is
a new corporation organized under a special charter granted by
the Legislature last year, and begins business with a paid-up
capital of $1,000,000 and a surplus of $500,000. Its primary pur¬
pose is to conduct a general banking business for the real estate
interests, as, for example, furnishing money to building loan
operators, and making first mortgage loans for short terms, as-
30 or GO days, on guaranteed titles. As may be inferred .from the
names of prominent stockholders, a distinctive aim of the corpor¬
ation is to direct capital controlled by Wall street financiers into
real estate channels, on the theory that real estate selected by
experts, is as practical a collateral to base a banking business on
as stocks and bonds. The company will guarantee the payment
of the principal and interest of mortgages, and issue bonds
against real estate mortgages, these bonds being made lawful
investments for executors, trustees, guardians, and committees.
It will manage realty and act as trustee for estates and persons.
It is expressly authorized to list, and have dealt in by its mem¬
bers, all manner of securities based upon real estate values, in¬
cluding municipal bonds as well as its own bonds or debentures
—in other words, to conduct an exchange. Finally, it will pur¬
chase real estate, and act as a medium for its distribution, by
shares, to mdividuals. Henry iMorgenthau is its president, with
ex-Mayor Hugh J. Grant as flrst vice-president. It will make
extensive alterations to the Liberty street building, reserving the
auction room and some offices for its own use, and renting the
rest.





THE    BOARD   OF   EXAMINERS.                         -----

The following communication  addressed  to the editor of the
Commercial Advertiser by Mr. F. C. Moore, the president of the
Continental Pire Insurance Co. and a member of the Board of
Examiners at the Building Department explains itself:
Editor, of the Commercial Advertiser:

Sir—On my return to the city last evening my attention was
called for the first time to the article in your issue of Saturday
last, in which you are pleased to give me exceptional credit for
fidelity in the discharge of my duty as a member of the Board of
Examiners of the Euilding Department of this city.

I am unwilling even by the implication of silence to appro¬
priate a compliment which I do not deserve and deprive my as¬
sociates on the Board of the credit to which each of them is en¬
titled. It has never been my privilege to sit with a body of men
more conscientious than they in dealing with important matters.
During the years of my connection with the Board I have never
discovered the slightest evidence of unfairness to those whose
appeals have been submitted for decision; in comparatively few
instances are there any dissenting votes, and I am sure that
those who vote in the minority, as well as those who vote in the
majority, mutually concede honesty of purpose and conscientious
exercise of judgment.

The reflections of your article upon Wiiiiam J. Pryer are most
unjust to that gentleman. He has never sought in any way to
be a leader of the majority. He is an engineer and architect of
exceptional ability, and, I believe, is better acquainted with the
building law of this city than any other one man. He has been
criticised for acting as consulting expert in engineering and
architectural questions while a raeraber of the Board. This
criticisra is simply ridiculous. The maximum compensation he
could receive from the Board of Examiners if he attended every
meeting throughout the year, would be $520. Moreover, the
building law expressly implies that the members of the Board
sliall be men who are actively at work in their respective call¬
ings, thus being in touch with the business of construction and
peculiarly qualifled by reason of this fact for service on the
Board of Examiners.    Respectfully yours,

P. C.  MOORE.





HALL   OF   RECORDS   APPRAISEMENTS.

The first expert witness for the city in the matter of the con¬
demnation of the Hall of Records' site, and the land for the new
street to the west of it, has been examined. He is John Davis,
and his valuations are for land only. His flgures differ very con¬
siderably from those of the property-owners' experts. Prank
Lord, Alwyn Ball and Wm. M. Ryan, who, however, have not tes-
tifled on some of the parcels required. All the appraisements of
land so far included in the testimony are summarized in the fol¬
lowing table. It should be remambered that they are as of Sep¬
tember 18, 1897. The property-owners' appraisements of land
and buildings together were given some time ago:

Jno          Frank      Alwyn    Wm. M.

LocatioD.                                      Davis.         Lord.        Ball.        Ryan.

35  & 37  Chambers  st.  & 13  Reade. .?22T,STa75  Sa47.400 ?3<i3,750 $308,164

33 Cliambers and 9 and 11 Reade st.. 219,029.71    300,000    308,500    312,000

31 Chambers and 7 Reade  ..........  163,748.69    236,800    249,000    248.826

29 Chambers and 5 Reade  ..........  163.208.96    236.800    249,000    248.001.

27 Chambers and 3 Reade  ..........  ir«fi,3S9.12    239,000    253,700    252,683

27, Chambers, 1 Reade & 21-23 Centre 221.009.93    373,000    376,000    366,906

23 Chambers, n. w. cor. Centre......     77.805.94    150,000    141,750    151,350

15  Centre  st.......................     40.0117.59     .....................

17-Centre st.....;.................    38,139.88     .....................

19 Centre st........................    27,034.56    .......    -..___      47,680