New-York Tribune from New York, New York • Page 38

Broadway," Standard Oil Headquarters, Is To Be World's Largest Business Office Building: of Great eight and Proportion To Be Added to Home Office of John l). Rockefeller's (Company Faeing Bowling Green; New Structure and Old Will Provide Six Blocks of Space for Offices Tr- Oil Company to hrve lower Broadway. facing Bowling the largest oxclusivo home of any concerr) in tho world. X.arger even than several of the perma? nent business buildings of the national government in will bo tho cnlr.vgod "28 Broadway," known iti part of this broad world as tiie sadquartera tho Standard Oil, John 1). Rockofellor's business "cr.t;ior Twe.nty-sovcn floors of offices ar-s to bo built next to tho ftlteen-s ery parent building orected 188.3.

These floors will cover all tho block on Bvoad v- and Now Street, south from "26 Broadway" to the north side of Street. where it will front an cntiro block. overahadowing the squat aneient Exchange. Great of Offices When tinished. several years hence, 600,000 square feet will have btcn turned over to the Standard Oil in torests for the use of its snd its army of thousands thou? sands of clerks.

Every inch of thir. hrea of floors will bo wanted by to.njany. Whai is -anga o' si uai. feet roay bo iilustrstci by taking down the 3truc turc nd placing each floor by each on k-vel Ctarting, say, at Forty-second Street. It would six and one-quarter blocks as that between Fifth and Madison avenues, Fdrty-seeond and Forty-third streets to equal tho varea of 500,000 square feet.

In other words the offices'of the Standard Oil Com? pany, when its new building is finished, would cover all the space between Mad? ison and Fifth avenues, Forty-aeventh and Forty-eighth streets and a quarter of the next block to the north. N'early ten such sized blocks as tho Equttable Building is ereeted on would br required to equal the floor area of Broadway" of a few years hencc. Millions of dollars will be expendod in producing the new Standard Oil How many miliions nrd Oil offufals ave not wUllng to lt would be difficult indeed to estimntn closely what this giant improvcmont will cost tho cojnpany. The bill will total well in tho miliions and it will bo regular item ef cost i'or the next nihety-ninc years, for part of tho sitc could not be bought and hnd to be i leur-cd. But whether the price is this amount or that amount not con corn the owners so muqh aa getting the building up.

"26 Broadway" ls Too Small Space is their crying need. lt has been their for the last few years. Business cxpansion has been so "great that tlie sides of "2G Broadway" are lilornlly bursting from tkc crowding within. Additional quartefs have been set up in most of the buildings to be removed, which explains tho reason fov the long drawn-out building pro? gram. for the new building is to be 1 erecte'd piecemeal.

The urgent need for this space would not allow the loss of more than a little of it at a time. The Lisbon Building, at the corner of Beaver and New streets, and the I Beaver Street end of the Welles, i Building, will be the site of the unit of the big structure. The Lisboai' Building has been removed and sons are not being sunk from in bed rock on which tho bu-'xlin-j rest. When this unit has been cqmploto'd the Welles Building, at 18 next to the old Staudard Oil will be carried off in piecey, and the I site built upon. The new'fcujlding will reach its greate.st height atthis point.

The front of the old Broadway" also will go in this A new facade will be erected; to correspond with the building, which Carrere Hastinga, architccts, and Shreve, Larab, A Blako, associatc srehitects, have desfagned. The Broadway apft Beaver Street cor ner building the last to It will be removed jikely when tho struc ture on the Welles Building site has been This depends, o. i on thfc space needs of the Stand i ard Oil Oompany. If thoy are ade quately met by thr structure complcted up that tiino the Broad and Boaver streets building will be left standing to sorve an a light and Hir shaft until tho company rie'eds more ofttces. Architecturally, it will bo a moini mental of height apd massivc dotail and construction.

Mr. Hastings described the building as being of buff Indiana limestone, in the stylo the Italian Renaissance freely adapted to meet, modern condi? tions. Us appoarance will convey great streiigth aiid solidity. Jhc first three stories will bo treated with heavy rus ticatibns, the great mass of the build? ing will riso fiftee? stories above the1 ground or ontrance floor, with a set back at the tenth floor on Beaver and New streets, as is required by the zon Above this, over the central portion of tho building, will be a great tower, twelve stories higher, surniounted bv a colonnade with a pyramidal roof and a finial composed of fourteen nllegorical figures. Tho top.

of this finial will be about 480 feet above the street. Vaulted Entrancc Forty Feet High Included with this proposed addition it. is contemplatcd that the entire front wall of the present building, nt 26 Broadway, shall bo rcplaccd by one confo'rming with the new building, which will a frontage on Broatl way of more than 27C feot. Tho main entrancc to the building will about niidway in the facade on Broadway, and will lead to an imposing vaulted hall about 40 feet high, giving access i to the elevators and leading on through to New Street. There will also be a secondary entrance from-Beaver Street i into the main hall.

I lhe floor heights of the new build I ing are carncd through to Hne up with those of the old, so that direct eom munication will be had at all floors giving room for expansion of all de partments, as may be needed. There will bo ninoteen elevators of a high speed typc to take care of the traffic of both the old and ohc new building; tho space occupied the elevators the old building will be used for offices. CJnthe twenty-third floor will be ZOWKS squash courts, showers and locker rooms. The uppcr floors of the building. which have an unobst'ructod view over tho upper bay and the Narrow.s.

will be occupied by tho -executive hcads of the company and their Company Out-Mancuvercd Spcculators The Standard Oil Company out maneuvered speculators in purchasing and leasing tlie site. Activity was high last Bummer. Owners were receiving bids for property for tbe first tirfle in many years. The corrlpany saw the drift of things, saw also how easily its well-conceived plan for a great head? quarters could be defeated, and the word was- given for Immediate action. I.

Newton Lewis, of L. J. Phillips Co? engineered the deal. He went out and secured the six parcels. In Feb? ruary he obtainod the Welles Building, next to the Standard Oil Company property and the largest parcol in tbe! block.

E. E. Smathers, wh6 had pur chased the property only'a few mon'ths' previous from Folix Ismari, refused to! sell, but would lease it. A deal was mc.de with Mr. Smathers for the prop-', crty for ninety-nino years at a rental of a year.

Next the buildin" at Broadway and Beaver Street was acquireu with (the ossistancc cf Mr. Lyons, of lioracc S. Ely Co. The five-story building adjblning at OlL COMPflNVS NEW ON LOWEtL 2J STORIES, 17 WILL CONTfJIN SIX BLOCKS OF OFFICE SPrfCLr: 1 Beaver Street could not be pur chased. It was a Wendel parcel, and the axiom of tho estate ''We never sell" confronted the negotiator.

A lease oi UErfW LINES ENCLOSES OIL LffND. NEW BUILDING WILL 3EERECT -ED BETWEEN DOTTEDLiNt. the property the Wendels would sgree to, so a deal for sixty-three year. wa? arranged. The property adjoining from George Lockwood, of New Canaan, and the Lisbon Building, at Beaver and New was in August from the McCIymonds estate, which is said to have oWned the prop? erty for more than a century.

The completion of thi gi will mark the climax of things for 1 section of ship are coi I devoloping or the opp and the Unii ment has its at the south end of thi City's Subsidy Will Bring Builders Into Action Again Moderate-Priced Homes on Suburban Land Hold Uut Best InducenieiU to Them, According to E. A. MacDougall; Queens Most Active Field By E. A. MacDougall President, Qiuensboro Cmyioratioii The tax exemption ordiitance ex ompting new buildings up to $5,000 for one-family house or $10,000 for a two-family house, or at the rate oi $1,000 a room in a multi-family house, rot to exceed $5,000 an apartment, which has been approved by the Board of Estimatc, will encourage immediate eonstruction of one and two family houses and moderate priced apart? ments, particularly in Queens, for the reasons: exemption applies only to the assessed value of the improvement nd is limited to $1,000 a to exceed $5,000 a family.

land upon which mod rate priced buildings can be ereeted in Queens would represent only a small percentage cf the total cost, whereas in Manhattan the land value would repre? sent probably one-half or more of the total cost. It must be apparent, therefore, that the greatest benefit will accrue to the moderate priced buildings on moderate priced land. This will serve the exact purpose for which tho tax exemption was encourage the build ing of moderate priced homes, as the great shortage of living accommoda tions in the City of New York to-day the lack of accommodations for peo? ple who can afford to pay from $25 to SioO a month. Exemption a Big Saving The exemption would mean the sav? ing to a family buying a one-fainily house or an apartment, where the ex? emption equalled the full assessed value of the premises, of $10 a month on a five-room apartment, or in ten years a total saving on taxes of $1,425, which, if capitalized at 6 per cent, woul1 equal about 38 per cent of the assessed valuation of the improvement. This would be a very substantial sav? ing to the family that is anxious to secure a home, and should result in a very active market this year for co operative apartments and moderate priced homes.

It has been maintained that the cost of eonstruction will be reduced so that the incentive of tax exemption would not be required. The peak of eonstruc? tion cost was reached during the last year, when building operations were terminated. There has been a reduction in price from the peak both in the price of buildfing material and in the cost of Uibor, particularly common labor, but tho average price of eonstruction is now about the 1919 cost, and we be? lieve will remain so unless there is i Concentrate Little More on Investors This is an investors' is active and pnssive. By this is meant- that many concerns are dlck ering for places and many are strongly inclined to buy. This is true not only of corporation buy? ers, but individual investors as well.

There are many potential buyers. These are the vlewa of expert real' estate men in the business and reai dential property fields. If not to day then perhaps to-morrow or the day after, is the way one broker de? scribed these prospecthes. He said that business men have informed him that they would buy. but that nothing that interested them had been offered.

They indicated, he said, that they had not been aroused to action. For this reason it might be well for brokers to give a little atrention to investing olients. Study once more your prospects. With? out doubt there is an individual or a coneern in your district who is a potential buyer. who has been think? ing: off and on about purchasing but has not bothered to do more than think occasionally about it.

He can be developed, he can be interested in a business building, an apart? ment house, a city home or a coun? try place. The best judges of the market say that the potential buy i'tg foroV ls not the spcculator but i investor. General business hes had. some very substantial reduction in the cost of skilled labor in the buildinc trades. When building starts there will bo I need for more labor than there is 1 available, and under those circum stances it would not seem reasonable to assume that skilled labor in the i building trades would be willing to ac cept a very great reduction in their rate, or at least not less than the wages that prevailed in 1919.

The city of New York, in encourag ing home ownership by tax oxemption. encourages new building. This will natufally increase its incOme and the increment to land, as a result of an i active building market. Institutions Should Encourage Building savings institutions should make mortgage loana on a rea sonable value, so that builders can be cncouraged to do evorything within their power to provide housing, that certain of our city and state officials will not be justified in their continual demand for Federah. state qx municipal housing.

is certainly necessary to i provide new housing at once, so that th.ere can be no' requirement for the reenactinent the restrictive rent laws, and if the public can be induced to buy their homes or apartments in stead of paying abnormal rentals due to the scarcity of living accommoda tions, the tax exemption law is more i than justified. Alderman Ferrand seemed much con i cerned that the benefit of the exemp i tion might accrue the builder. The best evidence that such is not the case is the fact that the purchasers of i apartments at Jackson Heights in buildings completed since April 1, 1920, i will receive the entire benefit in sav ing of taxes. It will reduce their monthly. rental or fixed charges $10 per month on a five-room apartment and in ten years will provide a saving to the tenant-owner of This saving will also apply to some 250 tenant I owners who purchase apartments in the buildings just being completed.

Every I dollar of saving from taxes will go to the benefit of the tenant-owner and not a single dollar will be capitalized in the. sales price of the buildings. We have filed plans for eight apart ment buildings, each having a frontage of 120 feet; the entire operation to' I comprise a complete biock and will ac commodate 128 families; -eight apart? ment buildings with a frontage of from i 65 feet to 75 feet, to accommodate 64 families, or with a total of 192 families in all. The Metropolitan Life Insurance i Company has offered us mortgage I loans aggregating $872,000 on these buildings and we hr.ve already pur chased a large amount of material for these operations. Active Trading In Private Houses In fylany Sections Mrs.

Genevieve Mosher Sells Home on Lower Riverside Drive to an Investor; Sale of Other Covert sold for Mrs. Genevieve Mosher 63 Riverside Drive. a lour story residence, to S. Pakas. L.

Phillips Co. sold for Clara Fouchtwanger 6 West Seventicth a hvc-story dwelling 21x100 5 The purehaser, after extensive altera trons, will occupy, Duross Company sold for Harris Liftin the three-story dwelling "60 West Twenty-fourth Street, lot 10.8x Everett M. Seixas Company sold for Wilham Sauer and Emil Lang 405 East Fifty-eighth Street, a dwelling, lot 18.3x100.5, to Edward EUsner, who intends to make extensive alterations. Alice I. Smoot resold to Caroline S.

Hine the four-story dwelling West Seventy-eighth Street, 23.9x100. Duff Conger, Inc, sold the four story foot dwelling at 155 East Eighty-seventh Street 'for the Mary E. Walsh estate, W. J. Amend executor, to Mrs.

C. H. Plumbridge. who will remodel' it into a model The Hudson P. Rose Companv resold i to Francesca Sinegra the four-story dwelhng 171 103d Street, 17.6x50.11.

Leonard Weill resold to Valencia Drayton, the four-story dwelling at 13 West 129th Street. 20x100. James H. Cruikshank resold to Frederick Aldhous, 36 West 130th Street, three-story dwelling, 25x100 George A. Fleming was the broker.

The Haggstroin-Callen Company sold for Joseph M. Mackey the three story dwelling 20 East 131st Street to Aaron Weiss, who has given in part exchange the live-story apartment 153 West Sixty-sixth Street, recentlv sold i by the same brokers. $1,000,000 Hotel for Site on Glen Island Travelers and residents along the i north shore of Long Island Sound are to be provided with another fine hotel. It will cost about $1,000,000, and will 1 cover a.site on Glen Island, the well known former picnic grounds, cff New Rochelle. Charles L.

Taylor. of the Hotel Martinique; Walter Gilson and Walter Schumm are back of I project. H. J. Hardenberg, who designed the Hotel Plaza, the Waldorf-Astoria and several other well-known hotel build ings, is designing the structure.

The site commanding a view for miles up the Sound has been selected for the hotel. lt is undcrstood (that considerable 8peed is being made in planning the structure and arranging other details, that the building might be got under way before summer. Corporation Lends $270,000 On Forest Hills Apartments The Prudencl-Bonds Corporation ha5 made a loan to the Gardens Apartments, Inc, 01,3270,000 on the Apartments or, Burns Street, frorest Hills, L. I. The buildinS is four and five stories in height, and of brick eonstruc? tion.

There are apartments of three, four, five and six or 153 rooms in nll. The basement contains a reatauvant and liMi clwso grill. Will This Prove To.Be Panacea For Local Building Shortage? Be lt Ordained, by the Board of Aldermen of the City of New York, as follows: Section 1. Pursuant to and in accordance with the provisions of Section 4 of the tax law of the State of New York as such section was added by Chaptcr 949 of the laws of 1920, entitled, "An act to amend the tax law in relation to the exemption from lojcal taxation of new buildings planned for dwelling purposes," it is hereby deter mined that until January 1, 1932, new bXuldings in the City of New York planned for dwelling purposes exclusively, except hotels, shall be exempt from taxation, as herein provided, for local other than assessments for local improvements during eonstruction and so long as used or intended to be used exclusively for dwelling purposes, or if a building of four stories or more in height used exclusively for dwelling purposes above the ground floor, provided eonstruction was completed since April 1, 1920, or if not so completed that eonstruc? tion be comrr.cnced before April 1, 1922, and completion for occu? pancy be effected within two years after such commencement, or if on September 27, 1920, in course of eonstruction within two years aftci such act took effect. See.

2. lt is fqrther ordained that such exemption shall be granted to the extent only of one thousand dollars for each living room, in cludihg the kitchens, but not including the bathrooms, in each such, building, provided that the total amount of such exemption shall not exceed, for every single-family house corning within the terms of the statute, five thousand dollars of the value of the building, and for every two-family house corning within the terms of the statute ten thousand dollars of the value of the building, and for every multi family house, corning within the statute an amount of the value of the building etjuivalent to five thousand dollars for each separate family apartment therein contained. See. 3. This ordinance shall take effect immediately Vpon ap.

proval by the Board of Estimate and Apportior.ment. Tax Exemption May Develop Serious Material Situation Builders May Not Be Able to Take Advautage of City's Subsidy Because of Undersupply; Expert Advises Early Purchase; Says Prices Will Go Up Allen E. Beals took the members of i the Long Island Real Estate Exchange into the building m.iterial lield in a talk at the last weekly meeting of the i association. He told them of the dif ficulties confronting the manufac? turers of materials and what was the situation to-day. His advice was to buy and not delay.

for the market was not oversupplied, because the outlook last fall did not hold any encourage ment for manufacturer to oile up a i supply. "I can prove to your entire satis faction," he said, "that the building mat-jrial market is undersupplied in all but four items, hollow tile, lin seed oil, certain grades of lumber and glass. ln the latter case, there is not ovcrproduction on the part of Ameri? can mills, but the oversupply is due to the menacing nresence here of for- eign glass, which is eompetinrj against domestic glass to the detriment of the American industry. Ten Supply of (ement "Cement has only a ten davs' na? tional supply on hand. There is at this moment only 420,000 000 common brick on hand for the entire country.

In a normal year the Hudson River district supplyipg New York aione would have on hand this quantity or more, not to mention stocks dealers here in town would have on hand. To? day there are no stocks in New York dealers' hands and there are scarcelv 250,000,000 burned Hudson River brick available for this spring's re quirements. "When the building materlal man: went into' winter understocked hc did so because he did not desire to buy any more fuel at $18 a ton at the mine ih stead of $3 a toii. Exemption Has Changed Matters "How could he that bofcre manufacturing season could swing around New York' would start a possible habitation building stampede by passing the tax exemption ordi nance "A week has not elapsed since that ordinance was enacted, yet there is scarcely an architect in Brooklyn to? day who has not from one to six dwell? ing or apartment opevations on his boards, whereas in Dece'mber he re? ported week after week that he did not have a thips except a few preliminary 3ketches tnat had 110 chnncp for action 'The millenniura iii building-construc uon is still a long way off. Suppase iiie rnan who decides to further post- pone his building plans comes to 1922.

tho tax privilegp will have cxpirct: under normal cbnditions. By 1923 the vailroads may be expected tb bo in the market with their long de- i ferred purcbas.es, most of which are ldontiea! with those enteiing building' consiihV.ion. Stippose the exchange rates have risen near to normal mar- kets, there is no one who can tsll whethov American building materials' may r.ot be called for abroad or in Scuth America. American bfick from the Hudson River found its way to France for eonstruction purposes two years ago, and American cement manu- facturers may be expected to make a I try for the South American construc- tipn inarkets formerly controlled ex- clusively by Germany. American lum ber ind mill work may be called for in nnd Belgium.

"It seoms like a long chance for ths prospective builder to take. But" that is not all. Prices Will Move Up Again "It is safe to assume that prices will move up again, probably in April or May. Now, if begin to his capacity and hc should be unable to make scheduled deliveries; and still take care of the fnflux of new: businQSs, premium conditions like those of 1920 will develop. ln such an event it is not ur.likelv that the build? ing public w.il! register a protest against an upward swerve in the build inK material price chart, and if the public resortsto a buyers' strike the building industry can look only to the doubtful of government intervention to set it started again." Plans Long Island City Hoinr William D.

Blccdgood Inc, sold for the T. and M. Realty Company, Inc, two lot3, fiOxlOO, on Sixth Avenue. 23'G feet south of Broadway, Long Island City, to George A. Violante, the con- tractor.

Mr. Violante is to begin at once the eroction of a dwelling hoii32 for his cwn residence. Rents Actjve in Larohmont Mrs. C. M.

Murdoch and Arthur S. Hawley rented the home of E. E. Thonias in Prospect Avenue. Larrh moiit, to Henry S.

Hendricks: also tho home of II. M. Jlequa in Murray Avenue to N'tt Htwnfan ann 3 i ountain Square, Larehmoni Manoc. Merrill G. Weiler.

Many Reported in Army Of Real Estaters All Are Doing Well and Wili Be Back in Action Soon, According to Latest "Miracle Man" to Talk There are a number of "casualties" in the real estate army of New York. it will be some time before full infor? mation on this score has been obtained. The slowdown in activity noticed in i the last few weeks doubt can be attributcd in a moasure to the inca pacitation of many active men, pri' vntes and high'er-ups the army. Those known lo bc on the Vck list are Wiiliam H. Class.

Oscar D. Dike, W. Lighthipe and Robert R. Rainey. Reports ave that they are doing nicely and will be back soon in the lielcl of action.

Mr. Class has wintpred a while at Atlantic City, but is now back in old New York. "Bob" Rainey is down in the Jersey pincs at Lakewood. "Bill" Lighthipe, who knows a big heap about elevators. is at his home, having passed through a very serious spell of sickness, which perhaps will keep him away from several meetings to come of the Building Managers and Owners' Association.

Mr. Dike is now building up for an early return co action. W. F. Morrell of White Plains, is recuperating at Asheville.

N. from i a serious operation. Mr. Morrell hts been ilkfor more than months. Al that time he was advised by his doctor to leave business atui rcst.

But there I were too many things needing his at tcntion to allow hin: to take the rest ordered by his doctor. Word was re? ceived in the White Plains district last wec that Mr. Morrell will be back in the Westchester real estate field shortly. Capt. Lco, the Miracle Man, Will Talk Captain John P.

Commissioner of the Department of Street Cleaning, may well be called the "mirack man" judging by the speed with which hp.rid New York of the cecent blizzard, will talk to the building managers at their meeting in the Advertisihg Club on Tuesday evening. c'aptain Leo un? til recently was chairman of the Boai'd of Standards, and Appeals and therefore is well acquainted with il' nor a sympathetic friend of the real estate r.iiii!. As chief of the street cfeaning bureau of New York City he continues this acquaintance because he is the vnan who removes ashes and debris of the household, which is iiuleed a very great factor in furthering appear ance and health of the city. For some time the managers of big buildings have had troubie having ashes removed. Tbe dilferenccs be? tween private ash carriers, city in? tercsts and otlyers have not been set tled yet.

For this reason what Coip vmissioner Leo will have to say on Tues? day will be at least interestinir, if not very interesting, to the men who man age small-size cities in the form of apartment houses and skyscrapcr office buildings. President Cooley and Sec letary Merritt anticipating the nature of the talc to be told by the "miracle man," urge every member of tho as sociation to be on hand next Tuesday night. Wide Field for This (oncern The Willard S. Burrows Company is a firm whose field of action is far and wide, holding as it does a commissfon from Childs' und perhaps other chain store corporations to se cure suitable sites in various parts of the country. Announcemont was made last week that tho company had ac quired for the Childs corporation the McArthur Buildinp; in Winnipdg, Can ada, hejd at $1,125,000.

lt is twelvo stories high, 50x150, and was owned by J. D. McArthur. Winnipeg's largest building, as it is known, will be maq aged from Now York by tho Burrows; Company. Nfiw York real haps, never imagined this Western Ca nadian c-ity possessed such valuable realty.

In this it will be intercstinp: to noto that indieations are that $15,000 000 worth of new build? ings will be in Winnipeg this year. I'orty-second Street Values Like Stock Markot I'rices Forty-seaond Street property values and rentals are like stock market quo change from day to day, There is this difference. however: the Forty-second Street quotations niove in one direction only and that is up? ward. This ha.i been tho case for a ruimbcr of at any rate. There js no grc for thinkins that it will ever be any other way.

Transit Tanele Has Tanghd NeU) York's Housing Problem 4 Travel Facilifcies and Home Construction Have Hand in Band; Builders Will flotProvideHomes Without Service; Best to Allow Even Fare in Cilv By Frank Bailey 1 ice-President Title Guarantee and Trust Company Tho soiution of the situation of greater New York is in ilruately connected with the housing iUiation. When the new subways were authorized the justification of the large i investment on the part of tho city was considerable part the statement that by constructing these lines the would be brought into communi cation with the citj and with one faVe, the city woiiid grow out rather Lhan up in the Already some of the feeding or paying lines are nractically abandoned, and the abandonment of others is threatened. This mear that the trans? portation the cheaper land not yet built iri is and the houses already con.tructed, their value on present methods of transportation, wiil beoome to a large extent valuclessj and many a home owner will be iifincd Type of Improvement Favored At the present time builders and lender3 are all favoring the construc? tion which is contiguous to the sub-? ways, and that kind of eonstruction which is dependent upon surface and other outlying transportation is to a great extent dormant. Therefore the house favored for eonstruction is a 50x85-fopt, five-family-( n-a-floor. This is the last kind of house which should be favored.

put theic no other house aow. economically sound ov possibly safe. We cannot solvc our housing situa? tion unless at same time capital ar.d owners know-what transportation is to bo, and investments will not bc made in new eonstruction. nor will pur chasexs buy houses on of trans? portation which may be abandoned. We have already been nearly two years in this state of unrest and are no nearer soiution, unless Governor Miller's plans prevail; The continued uncertainty is than a cortainty1, even if not quite satisfactory, aiid an eight cent even i'are all over tho city is very much bot than a iive cent fare scrving only the and resuit ing in new eonstruction for housing of the inferior type.

Every effort should bc made to cultivate individual home George J. Engel to Hav New Home in 74th St. Ambng the new dwellings which will be completed at an early date in the rt-sidential district) east of Central Park ia that for George J. Engel, at 17 East beventy-fourth Street. lt will be five stories high.

Joseph II. Freedlander, who designed the building, that the arrange ment of tho entrance floor plan in cludes a vestibule, a main fover with dressing room, lavatory men coat room. The floor of the toyer is done in Be'gian black and white marhle and the walls are pan elc-d. A circular staircase leading to the main and third floors is the prin? cipal feature oi the Cn th" main floor a drawing room, music room and dining room are de iigned so as to provide an uninterrupt ed vista throug-hout entire length ot the house. Casement doors give ac ccss to the iron balconies on th- mai facade.

Tho library, main bedroom. bath. iing room and a circular boudoir y. ocated on the third floor. A bal is arranged off the bedroom in the ar.

Th' lourth floor eontains three tastt I edrooms, two buths and large lim ro On the top floor provision 13 made loi three mauis' and rooms, chi dreq's playroom, sevjing ants' bath and cedar closet. An out-of coor playroom is to be located on the loof'of the extension. Tenth Avenue Bloek Front Sold The vacant biock front cn the oast side of Tenth Avenue, between and 203d streets, tias oeen sold by Mai garet F. Robinson and others for $47, 500 to the I.amr-v-rt Estate. Inc.

Th pei ty rrn ures 200 Tciil 1 uue, 220 1 11 and 100 1 feet on 2Q3d Streot. ownership, and th ution of the transportatio i pi necessary or home to reccive a setback for I Transit Has od to Investment If many of small the outlying districts, who navi chased because of th to and from their place of their tra ispoi tation they will, in many cases, homes. and new buyers found for house wh use. The problem side red fr nn basis ot' destruction" but a con itruction. Ri i ti ucl ion method Subway Extension on 42d St.

Hearing Tc-morrow Commissioner cuss Plans for Linking bord Tube With Hmes Sq. '1 ransit lonst ruct ion ami Dclaney will con I a moi 10:30, at a publ extending the Queensboro sul east c.f Grand Ceni ra to Ti roval already the Board or' Estimate to '1 work is expected I take two years and a bali plqted it will do away with thi sity of using the shuttle Central Terminal to in which is now necessary fo wi-h to go up or i the Wesl Side. Ashury Park Men Form At a recent ineetii Estate League of NV Asbury Park. tirms engaged in the ness in Asbury Park for estate board, wil Albert chairman and R. We lej retary.

ifeathcote Lanthnark 1- Sold The Griff( Hill, Mamarom by Stephen J. St I to Di A. Roy..