Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: v. 69, no. 1783: May 17, 1902

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May 17, 1902. RECORD AND GUIDE. [MonJuittem] 9" $30,000 brick and stone ediflce to be erected on their plot, corner Springfield and New England avs. The Rev. Warren Childs is a member of the building committee. R. S. Shapter, architect. Summit, N. J., is open for bids on the Bteam heating of the $20,000 brick and stone Public School building, plans of which are under way. The building is to be of brick and stone, 90x50 feet, S-stories. On tbe Morristown Turnpike, near Chatham, N. J., the Canoe Brook Club are about to erect a brick, plaster and stone club¬ house, 2y2 stories, with shingle rooflng, etc, Warrington C. Law¬ rence, of New Tork, is the architect. Hardwood flooring and cabinet work, open plumbing, baths, electric lighting, etc., will be required. STANLET, N. J.—Tbe Congregational Church is to erect a sranite ediflce, with tile rooflng, to cost about $12,000, from plans being drawn by Cbarles Lum, architect, of Chatham. N. J, SUMMIT. N, J.—R, S. Shapter is at work on the plans for an $8,000 dwelling, frame, 2'^-sty, shingle rooflng. Modern im¬ provements are specified. Dr. Hardy, of Summit, Is the owner. B. S. Shapter is taking bids on a 2^/^-sty frame dwellin, 30x40 feet, shingle roofing, etc. The cost is approximated at $5,000. John McClary is the owner. A $5,000 dwelling, 2i^ stories, frame, shingle rooflng. electric light, etc., is being planned by R. S, Shapter. The dimensions are 28x35. M. W. Sherwood is the owner. A dwelling, 2^ stories, frame, with shingle roofing, electric lighting, steam heating, etc.. 38^x40 feet, is being planned by R. S. Shapter, of Summit. The cost is $6,000; the owner is A. J. Holland. RICHMOND. Port Richmond.—Simonson av, e s, 136 s Richmond terrace, 2-Ety frame, 16x40; cost, $2,400; Judge Crook, owner, Rose- hank.—Tompkins av, e s, 25 n St Marys av, 1-sty frame Roman Catholic church; cost, $3,500; V. De Santis, trustee. Totten¬ ville.—Broadway and Railroad track, steel stack, cost $1,500; kilns, cost $6,000; American Terra Cotta Co, owners; Fisher av, s w 3, 176 s East Broadway, 2-sty frame, 36x38; cost, $2,575; Mrs. Caroline Dorsey, owner. The Richmond Beach & Railway Co. having sold to Mr. Charles M. Schwab, of No. 71 Broadway, its property near Huguenot, S. I., known as Richmond Beach, the same will no longer be conducted as a public resort. It is probable that some building will be necessary in order to adapt the property to the uses that Mr, Schwab will put it. Investors, read Wants and Offers. See page 904. Of Interest to the Building Trades. John M. Lyle, architect, has opened ofHces at No, S3 Union iquare, llth floor. T. D. Miller, architect, formerly at No. 3S52 Southern Boule¬ vard, has removed to No. 2778 Decatur av. Henry Ives Cobb has secured a suite of offices on the Tth floor of 115 Broadway, w^here he will be located permanently. John Borie, G. B. De Gersdorff and H. D, Hale, associated ar- ©hitects, have opened offlces on the 12th floor of No, 11S5 Broad¬ way. Pickering & Walker, architects, have opened offices on the ISth floor of No. liss Broadway; both were formerly with Bruce Price. Michae! Bernstein has taken his brother, Mitchel Bernstein. Into partnership, and the firm name will hereafter be Bernstein & Bernstein. The contract for the U. S. public building at Salt Lake City, Utah, has been awarded to the Campbell Building Co., of Chi¬ cago, at $409,000. Herrmann Horenburger, formerly at No. 802 Melrose av, has removed to No, 682 East 159th st, and would be pleased to re¬ ceive copies of late catalogues, samples, etc. Samuel H. E, Jennings and Thomas A. Welstead, who formed tbe old firm of Jennings & Welstead, carpenters and builders, for many years at No, 1762 Broadway, and who dissolved part¬ nership about a year ago, have reunited and have ofiices and shop at No. 227 West 50th st. The man who builds glass houses is Arthur E. Rendle. They are glass greenhouses and conservatories. One of the finest spec¬ imens of his work is to be found at Sand's Point, Long Island. These glass buildings cover over 20,000 square feet. The roof, aides and ends are glazed on what is known as the "Paradigm" system of glass rooflng invented by Mr. Rendle. Thcs. C. Edmonds & Co.. of Nos. 1826 and 182S Park av, near 125th st, wholesale dealers in window glass, paints and oils, have added a new department to their business for the sale of wood mantels, fireplaces, tiles, etc, and are fitting up a handsome Showroom on the 2d floor of their building, where they will carry a large stock of the latest design in these goods. H. Becker, contractor for structural and ornamental ironwork, with offlee and plant at Nos. 31S and 320 East 48th st. is an ex¬ perienced worker in his line, and enjoys a reputation for good work. His present contracts include ornamental and stair work on the new administration building, on Blackwell's Island for Wm. Henderson, and similar work on the new residence, No. 2 East STth st, for the same contractor. Use of Yellow Pine in Fireproof Buildings. A notice has heen sent out by the Building Department to the manufacturers of fireproof woods, and to others Interested in building construction, to the effect that until further notice the use of yellow pine for sleepers and bucks will not be pernUtted in buildings over 150 feet in height. The reason for this order was explained by Mr. Stewart, Su¬ perintendent of Buildings, as follows: Tellow pine, being filled with rosin and pitch, does not absorb the fireproofing material as readily as do other varieties of wood. For this reason the BuildingCommlssioners have doubts as to the eflicacy of the methods now in use for rendering yellow pine absolutely proof against flre. The order was issued simply as a precautionary measure until the department shall have oppor¬ tunity of testing to their satisfaction wood, whicb has been treated by the various fireproofing processes. It is proposed to make it obligatory on the part of the manufacturers of fireproof wood to stamp each piece of such material plainly with the name of the producer. In this way confusion arising from the large number of processes will be avoided, and each make will stand on its merits. As a result of this order, work on the Hotel St, Regis, corner of 55th st and 5th av, was stopped by the Building Department. Arrangements were at once made, however, to sub¬ stitute another wood for the yellow pine, and work on the build¬ ing will go forward without serious delay. Advantage-s of the Branch Bank System. A number of big down-town banks have quite recently en¬ larged their business operations by establishing branches in various parts of the city. The Produce Exchange Bank has four such branches in operation, the Corn Exchange Bank maintains ten distributed throughout Manhattan, Brooklyn and the Bor¬ ough of Queens, and other well-known institutions have either started similar enterprises, or contemplate doing so. Just what effect upon real estate this plan of distributing the banking facilities of the city will have is entirely a matter for specula¬ tion. That business interests will be likely to group themselves around these new financial centres is obvious, but to what ex¬ tent this will be true, and in what measure it will affect real es¬ tate values, remains to be proved, Mr. Forrest H. Parker, President of rhe Pi'oduce Exchange Bank, does not think tbat the establishment of these numerous branches will to any considerable extent exert an influence upon real estate. The bank is looked upon by him as a direct result of tbe necessity in a certain section for banking facilities, rather than as a pioneer whicb is expected to draw business to its vi¬ cinity. He believes that in the future fewer small banks will be organized, and that whenever a bank is needed, one of the older and wealthier banks will establish a branch. The larger institution with its immense capital and substantial surplus in¬ spires confidence which the smaller concern does not. The branch caters to quite a different class of depositors than does the parent bank, with its large accounts with corporations and mercantile houses doing business amounting annually to millions of dollars. The branch offers a convenient place of de¬ posit for small merchants, and for men and women of moderate means, whose accounts do not run into tens of thousands, but wbo, nevertheless, desire the advantages afforded by a safe and well-conducted bank, Mr. Parker is certain tbat the system has come to stay, and that both depositors and those who conduct the banks will be benefited by a more extended adoption of the plan. Legal Decisions. Contract—where a contractor abandons the owner may com¬ plete at the contractor's expense. "W''here contractors for the erection of a house fail to malte substantia! performance and, after the owners' consequent refusal to pay an installment of the contract price, abandon the work unfinished, the owners may complete it and hold the contractors for the necessary outlay. (Hansen v. Hackman, 37 Misc., 290.) Landlord and tenant—right of a mortgagee of the tenant to pay the rent which the tenant's assignee has assumed and to sue the assignee therefor—basis of such right. Where a lease for a term of twenty-one years contains a covenant obligating the lessee and its assignee to pay a stipulated rent and the taxes assessed upon the premises during the term of the lease, and au¬ thorizes the lessor to re-enter in case of a breach of said cov¬ enant, a mortgagee of the leasehold interest, in the event of the failure of an assignee of the lease, who took the same subject to the "rents, covenants, conditions and provisions therein," and also subject to the mortgage, to pay the rent and taxes in com¬ pliance with the covenant, may pay such rent and taxes and then maintain an action against the assignee to recover the amount so paid. Such right is not based upon any contract relation be¬ tween the mortgagee and the assignee of the lease, but rests upon the mortgagee's right to protect his interest in the estate. (Dunlop V. James, 70 App. Div., 71.)