320





RECORD  AND   GUIDE





March 16, 1918





NEW YORK INCOME
CORPORATION

Bank of Commerce Bldg.

31  Nassau St.,  New York

Telephone. 4705 Cortlandt





FINANCES   Operation   of  Apartment
and Business Properties.

UNDERWRITES Carrying Costa, and
advances necessary funds.





Cash

for

What  are your  FINANCIAL  nedds to   19207





MAINTAINS   Properties   on
Basis.

ADVANCES   Incoma   to   Owners,
a  fixed  term.





REAL   ESTATE   NEWS   OF   THE  WE





EKJ





Realty Supervision Co.

45 West 34th St^ New York

Business Buildings Only

Completely maintained
and  operated at a

Fixed Annual Contract Price

We supply and pay for

f COAL
HELP

ALL   -{  SUPPLIES

REPAIRS
INCIDENTALS
May we submit our estimate?





VERMINLESS
APARTMENTS





Just as Important as are the Meatless. Wheat-
less and Eatless days for the ConservatloD of
our   food   supplies—A   Vemilnless   Apartment

Over ?1.000.000,000 worth of food Is destroyed
annually by Vermin. Do your Bit I Keep
your apartments Vermin-Free. Our serrlce
Is   guaranteed.

"Ask Those Who Know"





Vermin ExTERMiNWiNG Co.

198 BROADWAY. NY.      PHONE CORTLANDT 730





JOHN F. DOYLE & SONS

REAL ESTATE AGENTS

BROKERS and APPRAISERS

74 Wall Street,           New York City

Management of Estates a Specialty

Member of  Board of Brokers

John P. Doyle    John F. Doyle, Jr.     Alfred L. Doyle





J.  CLARENCE DAVIES

BRONX BOROUGH
REAL ESTATE

149th STREET & THIRD AVENUE

Tel. Con.         Branch Ofifice, 32 NASSAU ST.

Member of Board of Brokers





Goodwin & Goodwin

REAL ESTATE AND INSURANCE
Management of Estates a Specialty

148 WEST 57th STREET
Near Carnegie Hall                 Telephone 6095 Cir«le

?60 LENOX AVENUE
N. E.  Cor.   123rd Street         Telephone  6500 Harler





FRED'K FOX&CO.

Business Building Brolcers

14 W. 40th STREET and 793 BROADWAY





Important    Legislation     Pending— Suburban
Market Improving—Money Market Still Tight





T MPORTANT legislative matters, of
*■ vital interest to real estate owners,
cam* up for consideration at Albany
this week, the flat rate tax measure,
municipal ownership of public utilities
and prohibition being among the most
important. Actions taken on these bills
is reported in another column of this is¬
sue.

The appointment of a new Chairman
of the Board of Standards and Appeals
is another matter which is of intimate
concern to the real estate market, John
P. Leo, the new appointee, is experienced
in the building field, but he is handi¬
capped by the fact that his predecessor
set such a high standard to follow.
Architects and builders will not be sat¬
isfied with a lowering of this standard
and therefore the future work of the
Board will be watched with more than
passing interest.

There were a fair number of sales and
leases reported by brokers. Several
deals of importance were included in the
budget. It has been noticeable during
the past week that many properties have
changed hands without the element of
trade. This fact is one of the encourag¬
ing features of the present-day market.
To be sure the actual cash involved in
the transactions is, as a rule, not as large
as during times when a broader market
exists, but still the fact that a new
clientele is purchasing, should be the
forerunner of a broader market.

The tightness of the money market is
still a dominant factor in the restric¬
tion   of  trading.    It   will  be   some   time











before this condition is changed. Th
institutions are still conserving their re
sources, and these have been placed a
the disposal of the Government.

Practically no speculative building
now going on in Manhattan, thougl
there has been an increase in the num
ber of operations in the outlying Bor¬
oughs, and just over the line. Thes
operations are the result of real estati
sales made to professional builders
though there is a considerable numbe:
of private dwellings being erected fo:
private occupancy.

The suburban market for improved
properties is strong. The demand
better than for years. The vacant land
however, is hard to sell and finance
The activity in dwelling houses in thes'
sections is directly traceable to the fac
that no building operations have been
completed wherein a considerable num¬
ber of families could be housed. The
income return from these properties is
large, and there is but little doubt but
that this condition will maintain for^
some time to come.

Many brokers contend that the open
ing of the new subway lines has not
produced the purchasing activity that
was anticipated. They look for a better
market from now on, due to the milder
weather. The out-of-town brokers are
dependent upon good weather, for first
impressions on prospective clients are
lasting ones. The severe winter
weather discouraged "shopping" out of
town. At the present time there is a
distinct shortage of dwellings which
rent for less than one thousand dollars
a year.





NEW YORK BUILDING MANAGERS

REPORT ON PENDING MEASURES





UNCORD   AJVD   GUIDB





' I' HE following report has been made
■*• by the Legislative Committee of the
New York Building Managers' Associa¬
tion : Hearings have been held before
the Public Service Commission in the
matter of charges made by the New
York Steam Company, H. H. Whitman
appearing- for the New York Steam
Company, H. J. Hemmens for the New
York Edison Company, and Godfrey
Goldmark and Robert T. Farrington. as¬
sistant counsel, attending for the Com¬
mission. The Commission was of the
opinion after the proceedings that the
act of the New York Steam Companv
in canceling by its notice of May 28,
1917, contracts made with it in con¬
formity with its schedule effective No¬
vember 1, 1916, was uniust and unreason¬
able and that the schedule of the com¬
pany effective June 1, 1917. is uniust, un¬
reasonable and unlawful in so far as it
does not provide a separate classification
for contracts in force on that date and
made in conformity with the said sched¬
ule  effective November 1, 1916.

It was ordered that on or before
March 5, 1918. the New York Steam
Company shall issue, file and post a snn-
plement to its schedule of June 1. 1917,
which supplement shall provide hat all
contracts made in conformity with the
schedule of the company, effective No¬
vember 1, 1916, and outstanding on June
1, 1917, unless thereafter canceled bv
mutual consent, shall be in full force and
efFect.

It was further ordered that this order
shall take effect immediately and shall
continue in force until chanered or abro¬
gated bv further order of the Commis¬
sion. This order, however, is made with¬
out preiudice to further hearings and
proceedings in the matter with resoect
to the reasonableness generally of the
basic rates and charges set forth in the
schedule of June 1, 1917. and^ suonle-
ments, and no determmatinn is m^de.
On or before March 2. 1918. the New
York Steam Companv shall notify the
Commission    in    writing   whether    the

IS   IN   ITS   FIFTIET H    YEAR    OF    COIVTIN





terms of this order are accepted and will
be obeyed.

One way that real estate offices can
assist the Government at this time is to
sell Thrift and War Saving Stamps. If
real estate men tried undoubtedly many
of the employees in offices and buildings
would take at least one Thrift Stamp
each week, and in offices where tenants
pay rent at the office in cash they would
accept one or two Thrift Stamps with
their change. While the money so re¬
ceived would amount to a modest sum
total, the securing of the interest of the
stamp purchasers would be of great'
benefit. The rent collectors when visit¬
ing the building could also carry stamps
and sell them to the tenants. Coopera¬
tion of all kinds is necessary at this time
and we know our members will not be
slackers if their attention is called to
the opportunity.

The new schedule of coal prices is|
expected about April 1. Dr. Garfield,
states that steps are being taken to pre¬
vent the shipping of dirt, slate, refuse,
etc., with the coal, as was done last
winter. The protest of the association
on this point has met with favorable'
consideration.

The   situation   continues   to   improve;
both   as   to   quality  and   quantity.    Thei
future of the coal situation is now fore¬
most  in  all  minds.    Additional methods
of taking care of future conditions have
been suggested as follows :

Building of additional bunkers and '
storage yards and filling these and all '
other space to their capacity.

The further curtailment of non-es¬
sential industries and luxury products.

The use of the New York State Barge
Canal and the revival of unused canals.

The elimination of isolated and non-
economical private electric power and
lieat plants and the use of large central
stations.

A better supply of cars.

Further reduction of artificial illum¬
ination in the day time.

Inspection at mines of the quality of
coal to prevent shipment of grades not
suitable  for ordinary consumption,

rOLS    PVBLICATIOX,