Security: Leasehold estate in plot on the southeast corner of
Fifth Avenue and 61st Street, 100 x 270, lease extending to
1950 with two renewal options of 20 years each—ground
rent on sliding scale, the average during the bond term
being $322,619.05. On this site is the new 4l-story Hotel
Pierre, with 738 guest rooms, and other public space.
Earnings: The building is about completed, so that no earning
statement will be available for at least a year. The management
 is experienced, high-grade and bespeaks successful
operation.
Price Range: January-May, 1930—97-97.

Fox Office Building
(New York City)
First Mortgage Fee 1942 Sinking Fund 6% Bonds.
Amount: $1,700,000.
Dated: January 1, 1927.
Maturity: January 1, 1942.
Interest: January and July 1st.
Denominations: $1,000, $500 and $100.
Taxes: 2% Federal—Conn., Penn., Maryland, Mass.
Redemption: 103 to 1930; then 10214 to 1933; then 102 to 1936;
101% to 1939; 101 to 1941; par thereafter.
Trustee: Guaranty Trust Company.

Assessed 1930: $940,000.
Appraised: $1,853,474.
Security: Fee estate in land fronting on Tenth Avenue between
 55th and 56th Streets, 200 feet on Tenth Avenue,
south frontage on 55th Street 275 feet, and north frontage
on 56th Street 293 feet—three-story concrete building used
for laboratories, offices, studios. etc. 133,500 square feet of
Hoor space.
Earnings: Building leased to Fox Film Corporation for three
years beyond bond term, at net annual rental of $300,000
plus taxes, operating expense, etc. The bond interest
amounts to $152,236.
Fox Film Corporation owns the stock of the obligor, Fox
Film Realty Corporation, and its earnings are reported in
Standard Statistics, as averaging $3,040,773 per annum for
last seven wvears.