U. S. apartment dwellers who grumble monthly at the amount of their rent bills, might well take comfort from a consideration of the rent which Commercial National Bank & Trust Co. of New York will soon be paying. Last week this bank contracted to pay rent of almost $500,000 a year for 42 years. Its landlord will be unique Henry L. Doherty; its premises, the first five floors at No. 60 Wall Street (Cities Service Co. building, now being remodeled). Commercial National has signed a 21-year lease with an option for a 21-year renewal. During a prospective 42-year occupancy it will...
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