May 26, 1917





RECORD   AND   GUIDE





729





"Keep Wheels of Trade Going."

The Trade and Commerce Committee
of the Bronx Board of Trade earnestly
urges the people of the Bronx not to
curtail their ordinary expenditures dur¬
ing these troubulous times. There is ab¬
solutely no necessity for emotional econ¬
omy, but, on the contrary, there is great
danger of creating the situation we are
so anxious to avoid, that of closed fac¬
tories, unemployment  and  destitution.

"There is no real economy in cutting
down our living expenses," stated the
secretary of the Board, "if it is to re¬
sult in throwing workers out of employ¬
ment and making them dependent upon
our charity. Better far to keep workers
employed by wise and liberal expendi¬
ture.

"Business must be kept going, and in
fact should be increased. The correct
idea is to avoid waste, to conserve our
foodstuffs, and to buy and sell as here¬
tofore, so that money may be kept in
circulation, and business go on as usual.
.Above all, as loyal citizens of the Bronx,
we must patronize our own stores. If
any saving is done, money should be •
deposited in the Bronx banks and not
boarded. The hording of money or food
at this particular time is pernicious and
absolutely wrong.

"It is reasonable to expect that prices
will go higher, because much of the ap¬
paratus now used for ordinary manufac¬
ture will be given over to producing war
goods. This will mean that the supply
of commodities which enter into regular
consumption in times of peace will be
reduced, particularly comforts and lux¬
uries.

"Higher labor costs, too, will influence
, prices, and this is especially true of food¬
stuffs of all kinds. It is thought, how¬
ever, that these high prices will affect
the wholesaler and manufacturer sooner
than they will the retailer, as the whole¬
sale merchant and the manufacturer are
nearer the source of supplies, and the
inference is that in some lines at least
oarlv buving is advisable for the retail
merchant.

"Waees should advance, as skilled and
unskilled labor will be in demand, and
the labor supnly will be lessened bv en¬
listments in the army and navy, and the
use of men and women in manufacture
of munitions."





Local Board Meeting Postponed.

Emanuel Friendlich, secretary to the
President of the Borough of the Bronx
and of the Loral Boards, announces that
owino: to the fart that Tune 5 has been
designated as Registration Day the meet-
inn- of the Local Board of Chester,
scheduled for that date, has been post¬
poned to Tuesday evening, June  19.

-1











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PRIVATE REALTY SALES.





nrHE total number of sales reported
•*■ and not recorded in Manhattan this
week was 24, against 31 last week and
39 a year ago.

The number of sales south of S9th
street was 10. as compared with 12 last
week and  18 a year ago.

The sales north of S9th street aggre¬
gated 14, as compared with 19 last week
and 21 a vear ago.

From the Bronx 10 sales at private
contract were reported, as against 9 last
week and  8 a year  ago.

Statistical tables, indicating the num¬
ber of recorded instruments, will be
found on page 737 of this issue.





Sale of Hotel Renaissance.

Negotiations have Ijeen completed for
the sale of the Hotel Renaissance prop¬
erty at the southwest corner of Fifth
avenue and 43d street to William Ziegler,
Jr., and negotiations are also pending for
the leasing of the property for a term of
twenty-one years, with renewals, on a
commercial structure to be at least ten
stories in height. The brokers in this
transaction were J. Curry Watson and
Lewis B. Preston.    The cost of the pro¬





posed structure, which will be erected
upon the expiration of the present leases,
with the rental for the first twenty-one
years, will approximate $3,500,000. It is
reported that the land, the building and
lease were sold for about $2,000,000. Mr.
Ziegler has accumulated almost $10,000,-
000 worth of choice Manhattan real es¬
tate within the past three years. The
Hotel Renaissance property is a seven-
story structure on a plot 75x100, with an
additional "L" 25x100 at 2 West 43d
street, adjoining the new home of the_
Columbia University Club. Mr. Ziegler
bought the fee from the Hoffman Es¬
tate, and the building and leasehold were
acquired from the Estate of David H.
King, thus merging the property into
one ownership. Prior to Mr. King's
death last year, he was negotiating for
a sale of his lease, which had about two
years to run, to the Guaranty Trust
Company. The institution finally lo¬
cated  at  the  opposite  southeast  corner.





Coincident with this, Mr. King was also
dealing with the Hoffman Estate for a
new lease, which was finally closed, giv¬
ing him the property for sixty-three
years, with rentals of $50,000 a year for
the first ten years, and $60,000 a year
for the second ten years from July, 1915.
It was Mr. King's intention to erect on
the site a suitable building in keepi'ng
with the neighljorhood. Mr. Ziegler's
ownerships include the thirteen-story
apartment house at the southwest cor¬
ner of Park avenue and 58th street, val¬
ued at $1,100,000, which he bought last
October from Samuel Herzog and Ed-
far A. Levy; also the southeast corner
of Park avenue and 72d street; the south¬
east corner of Park avenue and 63d street;
the southwest corner of Park avenue and
54th street, and the nine-story apartment
house at 104 to UO East 40th street.
These five houses, which were acquired
from various interests, are valued at
$5,500,000.







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