REAL    ESTATE

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AND







B UILDERS

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Vol. CII.





NEW YORK, OCTOBER 19, 1918





No. 16





Realty Board Elects Stephen H. Tyng President

Succeeds Laui^ence McGuire, Who Retires After Four Successive

Terms—Membership Now 1,300





STEPHEN H. TYNG, presi-
dent of the real estate firni of
Stepheii H. Tyng, Jr., & Coni-
pany, and one of the best knovvn
brokeps in New York City. was
elected president of the Real Es-
tate Board of New York at its an-
nual meeting on Tiiesday. Mr.
Tyng, who was formerly vice-presi-
dent and a member of the Board of
Governors of the Board, succeeds
Laurence McGuire, who retires
after four years of service as head
of the organization.

Mr. Tyng brings to the presi-
dency of the Real Estate Board
thirty-one years of experience in
the real estate fĩeld. He has been
an active broker and realty manager
since 1887. He opened his fĩrst
ofîîce at 63 WilHam street a year
after his graduation from Williams
College. Aside from a keen in-
terest  in   real   estate  afîairs,   Mr.

Tyng is prominent in New York club life and a
great outdoor enthusiast. He is a member of the Uni-
versity, Manhattan, Players. Williams College and Alpha
Delta Phi Clubs, the Automobile, Rockaway Hunt
Club. Oakland Golf Club, Sleepy Hollow Country Club
and the Arkola Club as well as the Seawanaka Yacht
Club.

Discussing his new responsibilities as president of
the Real Estate Board, Mr. Tyng said yesterday to a
representative of the Record and Guide:

"I accepted the nomination as president with a full
realization of. and admiration for, the remarkable work
which Mr. Laurence McGuire has done in behalf of the
organization, and my chief hope lies in the inspiration
which his record afFords. The new administration shall,
of course, maintain and continue to strengthen the efĩec-
tive organization through which the Board now carries
cn its work. We shall continue to maintain the high
ethical standards which have always characterized its
relations with the public.

"During the great reconstruction era which must
come in due time, in which period real estate will again
be restored in the hearts of the investing public and
this sorely harrassed commodity will he permitted once
more to come back into its own, tremendous responsi-
bilities will devolve upon the Real Estate Board, as a
representative body, to maintain the best traditions of
the New York broker and retain the confîdence of the
investing public.

"The Board has long ceased to be purely an organi-
j:ation of real estate brokers. Its scope has been en-
larged to include representation from all of the great







STEPHEN H. TYNG.





real estate interests. We have
sought, and will continue to seek,
the creation of a thoroughly repre-
sentative body, having as its aim,
genuine public service."

Mr. McGuire reviewed his asso-
ciation with the Real Estate Board
for the Record and Guide. He said:
"It is doubtful if the real estate
interests as a whole have come to
realize the measure of protection
and insurance which the Real Es-
tate Board has ofifered to property
owners for the past five years.

"Originally the activities of the
Real Estate Board were confĩned
to the regulating of commissions
and promoting a better basis of
dealing as between the real estate
broker and property owner, and in
addition establishing a code of
ethics to guide the transactions of
brokers as between themselves.
"Four years ago the corporate
name of the Board was changed from the Real Estate
Board of Brokers to the Real Estate Board of New
York, and at the same time important changes were
made in the Constitution and new classes of membership
established. It is from the time of this change that the
real eflfective work, and if I may say the success of the
Real Estate Board dates. Its active membership, which
is limited to brokers actively engaged in the brokerage
business, and the limit by its Constitution to 200 is
filled and there is a large waiting list.

"The original associate membership numbering about
500 has been practically transferred to a later class
commonly known as Active Associate, which now num-
bers well over a thousand. In the Active Associate
membership there are represented the foremost and
largest owners of real estate and the interests associated
with real estate. The total Board membership is over
1,300.

"The valuable service the Board has rendered to real
estate interests cannot, I take it, be over-estimated. It
has at all times been free from selfish interests, and
iiever to my knowledgc allowed or permitted itself as
an organization to be used for selfîsh interests. This
is perhaps one of the most difîicult problems with
which the Real Estate Board has been confronted. It
has been importuned to make alliances which could not
but be harmful, and it h.as been encouraged to lend itself
lo suggestions emanating from those who have had
fĩrst and foremost in mind their personal or corporate
profits. The Real Estate Board has, I am glad to say,
hcld aloof from all such interests, and it is vital to itg
(Continued on page 452)