The organization of a $42,000,000 realty enterprise was announced through the banking house of Lehman Brothers.
Louis W. Abrons, a leading New York real estate man, will be president of the new company.
In addition to Mr. Abrons, the board of directors will include Louis J. Horowitz, chairman of the board of the Thompson-Starrett Company; David Tishman, president, and Louis Tishman, vice-president, respectively, of the Tishman Realty and Construction Company; Herbert C. Freeman, director of the Central States Electric Corporation; Ray P. Stevens, president of the Allied Power and Light Corporation; Robert Lehman of Lehman Brothers; Maurice Newton of Hallgarten & Co.; Charles Hayden of Hayden, Stone & Co.; John W. Hanes, Jr. of Charles D. Barney & Co.; George O. Muhlfeld, vice-president of Stone & Webster, and Samuel L. Fuller of Kissel, Kinnicutt & Co.
While the new company is expected to concentrate its realty operations in New York City at the first, it is planned to extend these activities, particularly in the field of construction and financing, to other large cities of the country, the announcement declared.
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