Assessed 1930:
"LANE, wc 5 25 prwgemes « $3,425,000
Lands and buildings .......ce0veen. ... 4,100,000
Security: Leasehold estate in the property at the southwest
corner of Fifth Avenue and 36th Street, 95x166, and two
adjoining buildings, each eight stories and two basements—
one leased to Russek’s Fifth Avenue, Inc. ladies’ apparel,
and the other to Wise Shoe Store—both leases running beyond
 bond term.
Earnings: Each lease is on a net rental—that is, the lessor
pays the operating expenses, taxes, etc. The Russek lease
rental is $250,000 and the Wise Shoe Store, $100,000.
Net earnings for 1926 were $205,981.82
1927 215,041,32
1928 231,216.00
1929 239,550.00
Maximum bond interest—$90,000

Varick Street Station
‘New York City Postoffice)

1st Mortgage Fee Sinking Fund 6% Bonds
Amount: - $3,000,000 ($1,000,000 reserved; $183,500 retired; outstanding
 $1,816,500.
Dated: August 1, 1924.
Maturity: August 1, 1941.
Interest: February and August 1st.
Denominations: $1,000, $500 and $100.
Taxes: Federal 2%.
Redemption: 102 to 1939: 101 to 1941—or as a whole—after
1928 at par.
Trustee: Irving Trust Company.
Assessed 1930: $1,700,000.
Appraised: Wm. Kennelly, Inc, and Fenimore C. Goode, at
over—$3,000,000.
Security: Fee estate in land, area 163,000 square feet, and the
four-story building located at 34 to 50 Varick Street, New
York City, used for postal purposes.
Earnings: The building is leased to the United States Government
 for a term extending beyond the maturity of the
bonds, at an annual rental of $300,000. The operating cost
during 1928 amounted to $56,323, and while this expense

in