The Brooklyn Daily Eagle from Brooklyn, New York • Page 20

8 TIIE BROOKLYN DAILY EAGLE. NEW YORK. SATURDAY, JULY 19. 1913. REAL ESTATE TRANSACTIONS AND COMMENTS MISCELLANEOUS.

MISCELLANEOUS. .1. BUSINESS BUILDING TO BE ERECTED ON THE EASTERN DISTRICT MODERN BUILDING ON SITE OF LANDMARK GREAT ROCK SUPPORT FOR BIG BUILDING Brooklyn Board of EnA JsW bEi Real Estate Brokers. ROOM HOT, ISO MONTAfiUE ST. TEL.

JMI40 MAIN. "OPPORTUNITY IS KNOCKING AT YOUR DOOR." Subways and quick transit mean enhancement in Real Estate values. Brooklyn has long been neglected, but Its dav has nt last come and values are now at a low ahh Duy, neni, oen or Lease through tne members of tnis uoara. rears of experience and well-known business integrity are your "GUARANTEE." BAKHKKA, I MEHLK MAY, 5 aj "sBa The Above Is the Front Elevation of the Building Which Is to Be Erected on the Old O'Berry Property in the Block Bounded by Broadway, Liuden Street, Bushwick Avenue and Grove Street, Which Was Recently Purchased by Henry Von Glahn of the Firm of Von Glahn Son of Wallabout Market The Property Is T-Shaped and Extends From Broadway to Bushwick Avenue. The Plot Is 72 Feet Wide on Broadway.

The Old O'Berry Homestead, Which Occupied Part of the Property, Has Been Razed to Make Way for the Improvement. Plans Drawn by Benjamin P. Driesler Monclith Cofferdam for Equitable Structure Under Way. TO CARRY 200,000 TONS, Engineers Found Solid Bed Eighty Feet Below the Curb. Great structures have arisen so rapidly during the past quarter of a century in New York City that residents are not sur prised to see wreckers tearing down old buildings to make way for new.

To the true optimist the sounds of boring machinery and the blasting of foundations or bed rock, whether during the day or night, are Indicative of New York City's great progress, commercially and otherwise. One of the busiest spots in the city today is the block bounded by Broadway, Nassau, Pine and Cedar streets, the site of the largest office structure In the world, the new Equitable building, which will rear Itself from the ashes of the old Equitable building, burned nearly two years ago. A few weeks ago the O'Uourko Engineering and Construction Corporation, under orders from the Thompson-Starrett Company, the building contractor for the new Equitable structure, began the serious work of boring and blasting the way to rock base and removing old gran ite and concrete remains of former to make room for the magnificent pile of carved and polished atones, marble and steel, which will constitute, in area, the largest office structure in the world, with over 1,000,000 square feet of rentable Door space and towering aloft to the height of thirty-six storUis. Such a mighty structure must needs have a great rock foundation, and when it Is comprehended that it will weigh more than 200,001) tons, as against 103,000 tons of the Woolworth bulldiug, 82,500 tons of the Metropolitan building, 1S8.500 tons of the Municipal building, 82,530 tons of the Singer building, it will be granted that the foundations must be absolutely per fect to carry the burden. The steel frime work is now being forged and rolled at the mills and will weigh approximately 45,000 tons when in positio.i, ah against 25.0(i tons of the Woolworth building, 23,000 tons of the Municipal building, tons of the Sluger building.

7,000 ton3 of the Metropolitan building. Rock Bed Eighty Feet Below Curb. The engineers of the new Equitable building fortunately found a rock bed SO feet below tha curb around the entire site, for tho more Important base of the foundation. It Is on this bed rock that the mighty cofferdam, which will form the true middle of a foundation covering over 49,000 square feet, will be built. On the Nassau street side it will 150 feet; on tho Broadway side, 1HT feet; on tho Uednr street side, 31o feet; on tha Pine street side, 304 feet, or, altogether, about 925 feet of giant caissons of concrete and steel, 80 feet long, 6 Ceet fleep, and of various widths, in accordance with tho requirements of construction.

Each of these caissons will be sunk from curb to bed rock 80 feet below. The cofferdam itself, when complete, will be a solid concrete wall, 6 feet broad and 80 feet deep, strengthened or reinforced by heavy steel rods. The plan of the foundation calls for a retaining wall, extending from Cedar to Pine streets. This wall will add greatly to the strength of the cofferdam, but it will be built principally for tho purpose of two levels for vaulLs and rollers beneath the building. The concrete caissons that will farm the great cofferdam wall are or Interest.

Formerly caissons were built of wood, but recently engineers have decided that reinforced concrete construction is preferable, as when the caisson is finally filled with concrete it becomes a mono lithic mass, proof against all deterlora tion. Where water cannot be kept out of a foundation excavation by ordinary meaas, and it is necessary that work be done on dry rock, the pnoumatie caisson or method of excavating by hand under compressed air, is generally adopted. An airtight diaphragm Is constructed across tha caisson and sunk into position, with its cutting edge embedded In the ground. Into the compartment formed beneath, the air is forcd through a pipe, until the pressure Is slightly greater than that of the greatest head of water. The water Is thus drained out of the ground, leaving a comparatively dry bottom upon which to work.

Access is obtained from the outer air by an air lock, a chamber at the level on the diaphragm, with two airtight iron doors, one opening into the lower compartment and one Into tho upper valves, controlled from both inside the lock and from each compartment, admitting air Into the lock or permitting its egress. Workmen (often called go down into the working chambers or bottom compartment and dig the soil, or whatever It Is, which is taken out through the airlock in buckets. As they dig the earth' away from under the cutting edge cf the caisson, the resistance to its sinking Is reduced and the caisson settles down. It must be guided or kept vertical by digging uniformly, or by moro extensive digging at the side which Is to be sunk most rapidly. THE HILL HOUSE It FIVE STORY FLATS MI QUEENS PLAN Extension of Dual Rapid Transit to Corona Changes District.

BIG STRUCTURES UNDER WAY. Two Important Manufacturing Sites in Long Island City Recently Sold. One of the leading features In the real estate development in Queens at the present time Is the activity along the line of the Rapid Transit extension Into Queens. Every week transfers are recorded In that section. Ono of the latest is the sale of the Queensboro Investing Company to Ariel J.

Abbot of eighteen lota in the Barclay Dugro tract at North Elmhurst, subject to six mortgages aggregating $18,000. The compauy will start in two weeks to build four five-story stone und brick tenements on eight lots at the corner of Jackson avenuue and Twenty-fifth street, between Woodslde and Elmhurst. to cost in all $100,000. All of tho buildings will have a frontage of 10 feet. The first story will be stoue and tha others brick.

The corner building on Jackson avenue will be 90 feet in depth and the three others on Twenty-fifth street 75 foot In depth. They will contain four and five-room apartments, The fronts of the buildings will be ornamental. In this construction the company has set tho pace for the neighborhood. The managers say that the extension of the elevated line of the Dual Rapid Transit system out over Roosevelt avenue warrants thb construction of that type of buildiug. The houses will be within fifteen minutes of Mauhuttun for a five-cent fare.

The company has between 4,000 and 5,000 lots in the Barclay Dugro tract and seventy or eighty two-story two-family detached houses have boon built, but now the entire plan of building will be changed. The company has made a thor-ougn study of the regular five-story Bronx plan aud say that they have made many improvements on that style of building. The company nas between 4.000 and 5,000 lots in the Barcluy Dugro tract, and they expect to see several hundred five-story tenements go up on the tract in the next two or tnree years. The sewers are laid, streets paved with asphaltic cement, sidewalks are laid and gas, water and electricity Is installed. Work has begun on Thomson avenue for the Hue to Corona, which is to be a highly ornamental stone structure, to cost over $1,000,000 for the mile on Thomson avenue.

Long Island City Business Plot Sold. One of the leading transactions recorded this week iu Queens was the conveyance by the Warner Quinlan Asphalt Company of 79 Wall street to the Aztec Asphalt Company of 90 West street, Manhattan, of the plot in Long Island City containing the company's plant. The plot has a frontage of 125 feet south side of Division street, 200 feet cast of West avenue, and 125 feet on the nortb side of the canal at the foot of Twelfth street. adjoins the easterly side of the Stan dard Oil Company's plant. The sale was marie subject to a mortgage of Another valuable business plot sale In Long Island City was the conveyance by Stuart Hirschman to Blanche J.

Eckstein of a plot with a frontage of 05 feet on the East River and 05 feet on Vernon avenue, and C50 feot on the south side of Washington street, extended to the bulkhead line. The conveyance la made sub ject to a mortgage of $24,000. ilollls Park Terrace Development Com TRANSFERRED. O'BERRY PROPERTY, IN pnny conveyed to Wllkes-Barre-Hollls Realty Company 2G lots In Hollis, on the north side of Bradley street, between Farmers and Hollis avenucB, west side of Garrison avenue, between Beaufort and Lackawanna and north and south sides of Maple avenue, between Manor and Clarendon. Anna McDowell sold to Anna M.

Negreen a 13-acre tract In the southerly section of the town of Flushing, with a frontage of 368 feet east side of the road leading to the head of the Vlclgh and a depth of 1,181 feet. The property Is a short distance north of Union Turnpike, and Is said to be worth $40,000. The sale was made subject to a mortgage of $4,000 on the property. Ozone Construction Company and John P. Reichard sold to Harry Fleit five lots and buildings at Ozone Park, on the east side of Washington avenue, between Broadway and Belmont avenue, north of Liberty avenue, subject to mortgages aggregating $20,500.

August Bantz, sold to Corlna In vesting Company a plot at College Point 90 feet west side of Tenth street, 200 feet north of First avenue, subject to three mortgages aggregating $10,500. Mildred Norcross conveyed to Charles C. Tegettioff six lots and houses at Bay-side, with a frontage of 60 feet east side of Fairview avenue, 140 feet north of Palace Boulevard, and 60 feet west side of Wright avenue, subject to a mortgage of $13,000. Charles J. Wlrth sold to John Muller two lots at Rockaway Park, subject to two mortgages aggregating $18,000.

W. F. Shuler sold to Flushing Bay Improvement Company three acres on the Corona meadow, west of Flushing Creek. Big Mortgages Recorded. The Insular Realty and Improvement Company gave a mortgage of $17,600 to the First Mortgage Guaranty Company on a plot at Long Island City, with a frontage of 100 feet west side of Vernon avenue, 800 feet north of Webster avenue and extending through to the East River.

Timothy L. Woodruff gave two mortgages, one of $14,750 on four lots at Jamaica Estates. William T. Collins gave to Title Guar anty and Trust Company a mortgage of $12,000 on nine lots in the Dutch Kills Creek section, on Third street, Creek street, Borden avenue and Dutch Kills Creek. Daniel Mach gave to the Willlamsburgh Savings Bank thirteen mortgages of $2,700 each, on thirteen lots west side of Emerson avenue, west side of Queens avenue, Elmhurst.

INTEREST IN FIRST MORTGAGES Title Officials Says They Are Attracting Unusual Attention. Randall Salisbury of the Title Guarantee and Trust Company states that additional Interest Is being shown by investors at the present time In first mortgages that are guaranteed, especially as these also are feeling the effect of the increased Interest rates, and there are a few now to be had paying 6 per cent where tbe usual rate is 4 per cent "The merit of these mortgages," he said, "Is unquestionable, since the safety of the principal is absolutely assured and their use has been heavily on the Increase during the past few years among those who demand the utmost security. "In the present state of the financial market, persons with monev to Invest occupy a pedestal from which radiate unusual opportunities for placing their funds at attractive rates. "This condition is severely affecting borrowers on real estate and the real estate business generally, but while they are suffering from having to pay temporarily high rates on money, the situation has, as usual, some redeeming features, from which the business as a whole will be the better in future. "It never fails that In times when money is plentiful, many real estate loans are negotiated upon a class of properties whose location or material condition does not Justify the of the loan, thus subjecting the lender to a share In a speculative risk which should form no part of a mortgage loan transaction and which the interest rate was never intended to cover.

"While there is no Indication of an epi demic of refusals to renew loans at this time, present conditions cannot but bring about a stock taking scrutiny of outstanding loans whicji will In itself prove beneficial to the business." SALES IN THE E. D. SECTION. Several Important Properties Recent ly Transferred. Among the Bales recently made In the Broadway section by Jacob Marks, real estate broker, are 12, 14 and 16 Ralph street, for the J.

Henry Small Realty Company to Joseph Levy for 14S Jefferson avenue, for Fannie Levy to J. Henry small Realty Company, for 1259-1261 Broadway and 10 Central place, for Philip King, to Henry Van Glahn, tor leased for a terms of years 1259-1261 Broadway and 10 Central place, for Henry Von Glahn to John Faber. SAXES IU NASSAU COUNTY. The David P. Leahy Realty Company reports the following sales from July 10 to 15, Inclusive: To Mr.

and Mrs. T. Dalto, two lots at Valley Stream for $20 each; to Stephen Boos, two lots at Maple Park for $400 each, and at South Ozone, to Mrs. Kathryn Eck, Blx-room dwelling in the west side of Field ave nue, 140 feet north of Baldwin avenue, for to A. Sinedley, a six-room dwelling on the south side of Helen avenue, between Boss and Leahy avenues.

for to Mr. Rose, two lots on the south side of Attalie avenue, about 40 feet west of Leany avenue, for $625 each; to S. Green, two adjoining lots at the same price; to M. Wilson, one lot on the west side of Leaby avenue, 140 feet south of Rockaway Boulevard, for $645, and Miss Margaret Gleeson, one lot on tho south sido of Rockaway Boulevard. 80 feet east of Presberger avenue, for $1,220.

This lot Is to be improved with business building to cost $3,700, 1 Another Old Flatbush Structure to Give Way to Progress. ADJOINS ERASMUS HALL Bald to Be Century Old and Used to Store English Guns and Powder. Another old Flatbush landmark will oo (five way to the Bweeplllg hund of progress and make room (or a modem structure. This time not only one of the old structures of the section is to bo demolished, but one which Is said to be rich in historical associations. The old building to be razed Is 893 to 899 Flatbuah avenue, adjoining Erasmus Hall, about 100 feet north of Church avenue.

Some say It was built long before the American Revolution, others say that the present structure was erected on the foundation of a house used by the English In 1765, as a storehouse for powder and guns. However, light as to its age was shed a few years ago when carpenters were repairing Its roof. In pulling out a board which was nailed to the wall near the attic a bundle of papers dropped to the floor. Some of these documents wore bills which were written in German nd bore the date of 1784. The carpenters say that the fittings and nails used in bracing the roof were at least a ceniury old.

At one section of the roof there was found wooden pegs and old band made nails. The building bas bad a varied career. It was once used as the Flatbush Post- Zellhoefer Residence Sold. The Above Dwelling, 889 St Mark's Avenue, for Several Years the Home of the Late Dr. Charles Zell hoefer, Has Been Sold to Ghegan Levine as Brokers for the Zell hoefer Estate to Dr.

William Lin der for Occupancy. The House Is Four Stories and the Plot of Ground Is 22 Feet by 155 Feet. cfllce. It was remodeled years ago and moved out to Its present position when the grado of Flatbush avenue was established. The building was purchased several years ago by the Weissman Holding Company of which Caesar Weissman of 137 Prospect Park West Is president.

The company, shortly after buying the plot, which included a piece of land adjoining and which was purchased by the city for the extension of the Erasmus Hall plot, decided to improve the land with a large building, but It was rumored at the time that more land would be needed by the city to extend the school grounds and the owners waited for development. Other plans of the city made the purchase of this property unnecessary. The Weissman Holding Company will demolish the old structure in a few days and build a three story business building on its site. The new structure will be attractive in design and have one large store on the ground floor and office rooms on the floors above. Tho plot to be Improved covers 43 feet by 90 by 100 feet FARMS SOAR IN VALUE.

Land Near Philadelphia Beported to Be Rapidly Going Up. In a recent Issue of the Real Estate Magazine It was stated that the laBt few years have brought about a great Increase In the value of farms within easy reach of Philadrlph'a. In some Instances the appreciation In value nas been as high as 100 per cent. A Delaware farm which was purchased less than four years ago for was sold recently for 111,000. and dozens of farms have been sold lately at good figures which might have been purchased four or five years ago for 60 per cent.

less. Farm ground within twenty miles of Philadelphia is becoming scarce. A large number of the best farms In Cheater and Delaware counties have been reported sold within tho last few months, to be used, In almost every case, for residence purposes. BICHMOKD-BEONX EXCHANGE. Staten Island property was Involved yesterday in an exchange which included six five-story Bronx fiats.

The six houses were sold for the Tully Company and are located respectively at lolo Prospect venue, plot 40x105; l3 and 14S5 Hoe Avenue, plot 50x100; end 2616 Brigga Jenue, three five-story houses on plot 4ux80 each, and the southeast corner of Briggs avenue, and 194th street, a five-story flat on plot 40x81. This completes the sale of the nine houses built by the company in the past year. The buyer, an investor, gives In part payment property on Staten Island valued at about 100,000. WTLLOT7GHBY AVENUE DEAL. The Davenport Real Estate Company, In conjunction with the Bulkiey Hor-ton Company, has sold 127 Willougbby avenue, a tliree-ptory and basement brownstone dwelling, for Frank W.

Epenccr to a client for occupancy. The building covers a plot of ground 20 feet by 96 feet CEDARHURST RENTAL. John F. Scott has rented for Woodward Babcork his hour.e on Point avenue, CeJarhurat, 1 to John Oewdln. fK-lM fit' JSW Burf tkmei lln4.

LOI'IS BEER'S SONS, 1318 Fulton street. J. D. H. hehgejv at SON.

114 Court Btieet 4J Latajatta Anaox JAMBS BliAKH, laii l'rocpecl l'ark West. M. J. BRADLEY, U7 Montague Street. AS.

L. BRUiULEY, 1S Moiuujue Street. BULKLEY A HORTON 14 Myrtle At. and tii N'oe triad Ave ISAAC H. CARY, 200 Fulton Street.

SIC. C'KDKRSTHOM, 201 Monteme Street. THE CUAUNCEY REAL ESTATE CO. 187 MoDtapie Street. JOHN V.

CHlltLC, 7M Frankllo Avenue. KOAH CLARK, O. L. Gilbert. Frta.

S37 Manhattan 753 Noatrand Ar. ISAAC CORTELYOU, Its Montague Street. THUS. R. KARHICI.L, 253 Flatbush ATenue.

JAMES B. FISHER, 243 B'way, BrooklTB. Coney lelsnd near Beverley Road. HENRY FLEUEKHKIJ1KH. 055 Broadway.

W. H. (iOI.OEY. 182 Flatbuah Arenas. J.

S. GRANT, 189 Montague street. JOHN E. HENRY. 151 Bedford Arenue.

JOHN JAMES A SONS, 193 Montague Street. JERIC JOhNSON JR. Ut Montague Brooklyn, 187 Broadway, Maohattaa. B. t.

KntlWLKS to.urn 176 Broadway, Brooklyn. EVERETT KHUN 471 Suraner cor. Decatur St. W. J.

T. LYNCH, 38 UOUrt Kfreer REPUTABLE BROKERS SUBWAY BULLETIN News Flashes From All Directions on Transit Situation. Work on the extension of tbe Fourth avenue subway from Porty-tbird street Is rapidly progressing. Tbe open cut system used in this secticn Is considered the very best method for subway construction where It Is practicable. Residents of South Brooklyn and Bay Ridge believe that at the present rate of progress the road will be in operation long before the time set by the contractors.

Two Important contracts for subway construction were awarded Thursday. The Public Service CSmmission awarded the contract for the construction of the connection between tho Broadway nnd Myrtle avenue elevated lines to the Terry Trench Company, which put in a bid for $110,000 for tho Job. The work must be commenced within thirty days, and it is expected that it will be completed within six montns. The connection was provided for in the dual system Plan. The Commission also awarded the contract for another section of the Broadway, Manhattan, subway, which will ba operated by the B.

R. T. The contract awarded Is for Section No. 4, and the Dock Contractor Company gets it. Its bid.

which was the lowest, was opened on June 4, and amounted to $2,697,078. The next lowest bidder was the oscar uanieis Company, with a bid of $2,651,054. Early Monday morning Bridge Commis sloner Arthur J. O'Keeffe dispatched by special messenger the contracts for the extension of the Fourth avenue subway over the Manhattan Bridge, and a few hours later work was actually under way, It is believed that this section will bo actual operation by tbe Qrst ol in? year. The Public Service Commission yester day awarded the contract to the B.

R. T. for tho Thirty-eighth street cut to connect the West End Line and the Culver Ldne with the Fourth avenue subway without any further advertising for bids. This rule is bated on a clause in the contract whereby the company conceded to have the be3t facilities for the construction of a section should undertake the work. It also calls for an equal division of the profits that accrue from the construction over and above the ainouut set aside for the work.

During the past week a number of real estate brokers were retained by the city as experts to appraise property to be taken lor subway purposes. Some of them are at work In the Jamaica section and others are inspecting property in the liastern Parkway locality. In a few weeks it is reported condemnation proceedings will be started by tho city to get possession of the property required. Much of the delay In getting down to tactual work on the extension of the sub ways Is caused by property owners In various sections of the city who refuse to give their consent to certain require ments in the preliminary worn oi starting the excavating operations. Where oronerty Is needed for a proposed station or widening of a street where extra tracking is required, there is often a great deal of opposition by the owners of the property, or the price of the land is placed so high that.

It has become almost prohibi tive as in the case of the B. R. T. recently where a new plan had to be arranged to oftset a difficulty of this kind. And this Inconvenience and delay happened in a locality, it Is reported, where there was considerable complaint about delay In starting the subway work.

The Sea Beach Line remains the prop- im. w- ho done bv the company with Its own funds. The plans, In so far as they have been worked out, call for an operating connection for the Sea Beach Line with the main stem of the Fourth avenue subway at Sixty-fifth street, and then for a three-track road over the right of way of the Sea Beach Railroad to the general terminal at Coney Island. The Soa Beach road thus reconstructed will be partly depressed and partly elevated on the right of way, according to the conditions which have to be met, but in any event, all grade crossings will be eliminated. BOCKLAMTd" COUNTY TRADE.

Edwin H. ChaRe, tn conjunction with Holstein Formhals, sold for George R. hath fourteen acres with two dwellings and outbuildings in the State road near Monsey, Rockland County, N. to Jacob B. Cooley, who gave in part payment a two family brick house on a plot 20x100, at 1087 East Forty-eighth street; three lots, 20x100 each, in Flatbush avenue; one lot.

20x100, in Hendrickson street, and eighteen lots, each 20x100, at Eastport, L. PATCHEN AVENUE HOUSE SOLD. Henry P. Cain has sold 249 Patehen avenue, a two-story and basement one-family dwelling, for John F. Hunter to Frederick T.

Miller, for occupancy. A deed unique In real estat" records Is shown in two thumb prints which form unusual parts of a real estate deed recently filed In Fort Madison, la. The deed Is for some former Indian lands In Oklahoma and tbe thumb prints were taken in the place of signatures. Above each thumb print Is the namo of tne owner, written by tne real estate agent who transacted the transfer of the property from the government to two In dians. 112S MTrtle Avenue, at Broadwav.

WILLIAM 189 Montague Street. JOSEPH T. c.M A HON, 198 Montague Street. 8. NOONA.V, 76 Blith Avenue, corner Flattmsk.

CHARLES PAltTIUDGK, 700 Franklin Arenua. DAVID I'OltTHIl, ISO Montague Street. JOHN PULLMAN HEAL ESTATE CO, 741 Union Street. HOWARD C. PILE 2ll Montague Street.

WILLIAM P. RAE 180 Montague Nostra At. REDMOND BROTHERS, 613 Vnederbilt Avenue. THOMAS E. ROGERS, 629 Grand Street.

RX'VI'IN BOBBINS, 16 Court Street. FRANK A. SEAVER, Bay Itldge 6S06 Third At Dykef Halfata. FISWVIOK II. SMALL, 39 Broadway, Brooklyn.

CLARENCE B. SMITH, U24 Fulton Street. WILLIAM 11. SMITH, 180 Montague Street. CHARLES C.

STKLLE, HI Flftli Avenue. NATHAN STERN. 756 Flushing Avenue. TIMM eV EH HENS, 100 Montague Street. FRANK II.

TYLER, 1183 Fulton Street. A. J. WALDHON, 1153 Bedford Arenue. AR'I'Hl'K H.

ATERMAN, 185 Mourngue Street. SAMUEL WEI. SOU, 207 Montague Street. WFS'l WOOD REALTY COw s. KlHtlnitfh Avenue.

nORFRT A. WRIGHT, XM lompslne Avenue. ELIGIBLE) FOR MEMBERSHIP. C7. hat or tne Realh World NB of the many young and ambitious real estate men of this borough, who hopes some day to be president of the Brooklyn Board of Real Estate Brokers, Is Charles Warren of Frank Tyler's office, on Fulton street.

lie secured a position In this office shortly after leaving school, about five years ago, and be has been promoted from sign hanging to an Important position with the well-known broker. Mr. Warren was recently mada Charles Warren. Captain of Real Estate Brokers' Base ball Team. captain of the Brooklyn Board of Real Estato Brokers ball team.

He Is well qualified for the position, having played first base for several seasons on the Cornell Juniors when the nine won the championship from the McCarren Park team, three years ago. Young Warren, has arranged a very interesting schedule of games for the rest of season, which, he hopes will place tho R. E. B. B.

Field, at Ocean Parkway and Avenue among the best known amateur baseball arenas of tho East. Reports to Bradsteet's from 120 cities of the United States show a grand total expenditure for six months of $436,8:13,701, as against $449,572,833 in the like period of last year und $465,045,920 in the high- water-mark record year in building in tne first six months of 1909. There is here shown a decrease of 2.8 per cent, from the first half of 1912 and of 6 per cent. from the first half of 19U9. Writing to a friend In Brooklyn, Charles E.

Rickcrson, who is spending the month of July in Europe on a' pleasure trip, says that one of the greatest pleasures of the journey was his visit to the Paris Bureau of The Brooklyn Daily Eagle. Ha pays a high compliment to the publication for the valuable information supplied to favelers abroad at this office. St. Louis. Is to have a building development on a very large scale.

Plans are being perfected for the development on a large scale of many tracts adjoln- ng the city on the west, north and soutn. in addition to a number in St. Louis County. Undertakings of this character at present under way will involve. It estimated, about $2,500,000.

The annual report of the U. S. Realty and Improvement Company, Issued recently, shows gross earnings of $3,559,000, net profits of $1,481,000, and a surplus for the year after paying dividends of $673,000. The present total surplus is $1,868,000 aud the reserves aggregate $833,000. The company's assets total 3.3:1,000,000, of which con sists of real estate, over $7,000,000 of stocks and bonds.

$2,490,000 of mortgage loans, $2,450,000 In cash receivable. Tha liabilities are $14,416,000, leaving a balance of $18,864,000. This balance, less tho reserves of $833,000, represent tha value of the $16,000,000 of capital stock outstanding. The new trestle station at Ramblers-vllle, L. on the Howard Estates, is now being used.

The old station has been removed and the new one, about 300 feet north of it, takes its place. John D. Crlmmins, for many years a builder In New York City, in a recent interview published in the Record and Guide, admits that permitting buildings to go to unlimited heights would be a great menace. "I have seen this menace for some time) and have spoken of it," he says, In a letter to Chairman Baasett of the Heights of Buildings Commission. "It is the ao-tlve cause of congestion of population.

Deprivation of light and air comes under the head of unsanitary conditions. "Then, again, it is a retlection upon our property situation. Instead of utilising locations that are available a few hundred yards east or west the congested district, the population Is concentrated, and a condition detrimental to the city's welfare Is created by opposing the wider distrimitlon of buildin? and consequent municipal benefit through taxation. "There are many other features which, probably will be presented by others opposed to this unlimited building. But I believe that we should consider the welfare of all concerned for what concerns the majority should be the purpose ot legislation and not the individual Instances who would favor the unlimited height of buildings." QJ Sje 1 t.

ASSESSMENT BOARD ISSUES TAX REPORT Shows How Revenue Is Derived From Special Taxes. A subcommittee of tha Board of Taxes and Assessments has Issued a report on taxation of personal property, which eon- tains some very interesting matter in connection with the revenue derived from special taxes on classified personal prop erty In this State. The principal object of the report is to "point out the large revenue derived in the State of New York from these special taxes on classified property. To show that a larger revenue Is derived from these special taxes than could be had by attempting to reach such classified property by the personal property tax, either at the current local rates or at a low rate, such as 3 mills; to show that under the classified tax policy of New York State the proportion of taxes paid by real estato has been greatly decreased and tbe proportion derived from the other sources greatly Increased, and that the passage of the Secured Debt law has not resulted In any loss of revenue, but hag been new-found revenue." Proportion of Personal Taxes to Real Estate Taxes. tf we aiinunie a tax rate of 2 It will require to produce the $37,827,026 now produced by the Kpoclal Indirect Taxes.

Add to that tho present as-Heflwed value of personal property subject to the Dersonal property tax 4li2.S00,84l Total 12.528,652.153 Total asuesBbd value of real estate It $10,561,501,373 "Hence the value of personal property on the equivalent of a 2 per cent, tax rate Is 25 per cent, of the value of real estate, or 20 per cent, of the total of real and personal. "This may seem small, yet In 1880, before New York began Its system of classified personal property taxes, the proportion of personal to the total of real and personal was only 12.70 per cent. So that the result of the inauguration of the present New York tax system has been nearly to double the proportion of personal to tbe total of real and personal. "Of the present total of real and personal, 12.70 per cent, would be Yet the Indirect taxes on personal property produced the equivalent of a 2 per cent, tax on $1,866,351,312, and we still have $462,300,841 of personal property on our rolls. Henco any attempt to suggest that the imposing of ppscial taxes has resulted In the exemption of personal property Is simply ridiculous," states the committee.

Division of Tax Burden as Between Real Estate and Personal Estate. "Prior to 1880 the classified tax system of the State had not been Inaugurated. Apart from the Incidental revenue from fees, fines and sales of State land, the revenue of the State was derived from the direct State tax on the assessed value of real and personal estate in the several counties. "The report of the State Board of Tax Commissioners shows that in 1880 the assessed value of real estate In the entire State was $2,340,335,690. In the same year the assessod value of personal estate In the entire State was $340,921,916.

That Is to say, real estate comprised 87 per cent, of the total and personalty only 13 per cent." The report admits that the amount of personal property owned by citizens of the State of Now York is a matter of guesswork. No statistics are available, but Inference may be drawn from such data as Is available. It says. "If the State of New York had not de veloped this system of classified Indirect taxes on property to supply Its State treasury, it would have been necessary to raise the entire $50,036,406.08 by direct State tax. Instead of only $6,326,823.13, as was the fact.

In this event the City of New York would have been called upon to pay $30,596,708.06 more than It did for the year ending September 30, 1912. Now us add to the total city budget of llM.711.441.il, this sum. which wa9 saved in direct State taxes, $30,596,708.06, nfl I and we have $223, 308, 160. 22, as the total tax burden paid by the citizens of the City of New York as its portion of State and local taxes. Of this total only was borne by real estate, or 65 per cent, of the whole.

Thus In 1913, as a result of the establishment of the classified tax system of the State, the burden of real estate has fallen from 87 per cent, to 65 per cent." In conclusion the report states that Incidentally It may be remarked that the personal property tax law has always been enforced In the City of New York with far greater diligence than up State. New York City returns 70 per cent, of the real estate values In the State and returns 80 per cent, of the personal estate values. Practically all of the revenue under the Secured Debt law has been paid into the New York office of the State Controller, and presumably has been paid by residents of the City of New York. The amount paid Into the State treasury under the Secured Debt law bas to that extent reduced the direct State tax; that is to say, that tbe direct State tax would have been greater by $1,411,000, had It not been for the revenue produced under the Secured Debt law. BOROUGH FAB.K FLAT SOLD.

The four-story brick tenement, 1357 Sixty-fifth street, on a lot 20x100 feet, has been sold for Mrs. Anna Palermo by B. J. Sforza to a client for Investment. DOTJGHTEB.TY HOME SOLD.

The Huikley Horton Company has 3nld 96 Washington avenue, a three-story and basement private dwelling, between Park and Myrtle avenue, for J. Hampden lougherty to Francis F. Gibbons lor in vestment. 5 V-vr i.v- vV riWV-iit-fT The Eill Section Company Has Sold 41 and 43 Greene Avenue, Known as the "Hill House," Covering- a Plot 45 Feet by 89 Feet, to the Wilbur Realty Company, Taking in Exchange for the Building a Coney Island Plot on Warehouse Avenue, Between. Neptune and Mermaid Avenues, Comprising 240 Feet by 110 Feet..