Real Estate And Building May3, 1921 news

After negotiations of several weeks the Paepcke Paper Mills Company, Chicago, with a preliminary capitolization of $50,000, late yesterday bought the plant of the Charles Boldt Paper Mills Company, in Linwood, the consideration being in excess of $1,500,000, according to R.L. McClelland, who is the Vice President and Treasurer of the former corporation.
Elimination of the chip and liner board product from the plant, located in the eastern part of the city and concentrating the mill to the production of fiber and corrugated containers, is the plan of the new management.
The officials of the corporation are: President, Walter P. Paepcke; Vice President and Treasurer, R. L. McClelland; Secretary, E.A. Lang, and H.A. Hutchenson and Paul E. Duezeske, Directors, all being residents of Chicago.
The same interests control the Chicago Mill and Lumber Company of the Windy City.
The Linwood plant has been closed down for several days in order to make possible an inventory since the purchase price was based on this report. The statement was made yesterday by Mr. McClelland taht production would be resumed before the close of the week. In speaking of the purchase price Mr. McClelland stated it will be in excess of $1,5000,000. He stated that the total capitalization of the Paepcke Paper Mills Company had not been determined. The real estate sold for $650,000.
This transaction in no way affects the Charles Boldt Glass Company, the latter being a separate corporation. At the present time Mr. Boldt, who was the principal owner of the paper mills, is constructing a straw board plant at New Iberia, in Louisiana. Hertofore straw board has been manufactured from wheat straw, and Mr. Boldt is eperimenting with rice straw. The Southern plant, according to Fred W. Schwenck, secretary to Mr. Boldt, will be ready for operation in the fall.

Five friends, Henry Guentert, Harry and William Rohmann, Andrew O. Haefner and F.H. Brueggemann, his upon an unusual method of putting through a building plan in order to get large acreage tract with country home surroundings.
They yesterday closed a deal in the office of Walter C. Taylor, attorney, for the purchase of a ten-zcre tract on the east side of Yonente avenue, just south of Woodford road, in Kennedy Heights, each to secrure two acres and all have agreed to contruct their homes this summer.
The ground belonged to Louis Turnau and Carl N. Hansen, who acquired this, as well as tract on the opposite side of Yononte avennue last year.
The parcel just purchased by the five adjoins the home of Mr. Taylor and the buyers have agreed to adopt building restriction, having each home set back 125 feet from the roadway. The five improvements will represent a total investment of approximetely $65,000.
Mr. Hansen, one of the sellers, who is the owner of a thirteen-acre tract opposite, leaves this week for Denmark. On his return in the fall he expects to let contracts for a $15,000 home.

Herman Elsaesser, in the restaurant business bought rather expensive pasturage land in Price Hill yesterday. He acquired from Carrie Kreis, through L. Alvin Krels, attorney. 10 acres on the north side of Eighth street, east of Kreis avenue, an unmade thoroughfare, paying $21,000. Mr. Elsaesser has no intention of developing the tract immediately, announcing that it will be used as a pasture.

The wife of John G. Ashby, of the Kenton Motor Car Company, paid approximately $27,5000 for the four-story stone-front flat bulding, 124 West Ninth street, sold through the Frederick A. Schmidt Company. The holding, on Koehler and was acquired by Mrs. Ashby as an investment. Part of the building contains offices of physicians.

The statement was made ysterday that Harry Hake, architect, had requested several of the large contracting firms to give preliminary estimates on the cost of the construction of the new Elks' Temple, northeast corner of Ninth and Elm streets, on the plans in their present shape. These are not yet ready for the market. The Building Committee has borrowed $300,000 from the First National Bank.

Joseph G. Steinkamp & Bro. yesterday began to let contracts for the new funeral parlor bulding of Henry Imwalle & Company, 4811 Carthage avenue, St. Bernard, the excavation, concrete and cement going to August Schroeder & Son; brick, to John Singer, and carpentry, August Gohmann.

J.R. Schroder, in the hardwar business on Government Square, purchased on Government Square, purchased through Fred Tuke & Son the seven-room brick residence of J.A. Blasing, 3105 Gloss avenue, Pleasant Ridge. The house was on a 50-foot lot and Mr. Schroder acquired 75 feet adjoining, giving him a plot of 125x147 feet, his total investment being $7,000. The buyer plans to make alterations to the house.

William Miller & Son have a contract for alterations to the property of Carolina Sauer, northeast corner of Baymiller street and Central avenue, the gound floor of which is to be occupied by the Siebel Tailoring Company. The changes are to cost $4,200.

H.S. Barnett, broker, disposed of the seven-room frame dwelling of E.L. Hanover, 816 Delta avenue, Hyde Park, to Eva Murphy for $6,500.

Plans are to be posted shortly by Stewart & Steward, architects, for a bridk duplex apa[r]tment for J.L. Limes, on Delta avenue, near Observatory road, and a bridk bungalow for John Monahgan, to be constructed on Kincaid road, in Pleasant Ridge. Estimates on both will be received until May 14.

The Wm. B. Hall & Company has leased through Cleneay & Nourse, brokers, the four-story brick, 203 Vine street, for two years. It is to be used for storage purposed.

Approzimately $14,000 is to be spen[t] by Alphonse Gruber, with the Ed F. Alf Company, in the creation of a home on the east side of Dickson avenue, sough of Mitchell avenue, where he has bought 75 feet through the Frederick A. Schmidt Company. The ground is a part of the Burton Woods No. 2 Subdivision. His home is to be an eight-room brick.

Edgar H. Merrick, local representative of the Manning, Maxwell, Moore Company, bought of Warren E. Richards & Co. the new six-room center-hall shingles house, 1141 inglenook place, in Hyde Park, paying $10,000.

Moraltes Bros., owners of the Olympic bowling alleys, now at the northwest corner of Sixth street and St. Clair alley, have negotiated with Herman Elsacsser for a five-year lease of the space now occupied by the Dansant, in the same block on Sixth street. The quarters of the former are to be taken over shortly by William G. Reuter, electrician.

Plans are posted at the Builders' Exchange for residences for Emma Childes and Dina Lowenstein to ?? built(?) at 513 and 547 Blair avenue, Avondale, respectively, to close may 9, and for a home for Emma Metz on Grand Vista avenue, Pleasant Ridge, closing May 10.