Saturday, September 28, 2019

Depression's Got A Hold On Me

Well, you learn something new every other day or so I guess.  I was poking around a while back and spotted a very interesting article from the Brooklyn Times-Union October 30, 1933 edition concerning the long-time HQ of the American Leaf Tobacco Company (ALTC) at 7 Debevoise St., which my intrepid readers know as the primordial Shorin family company's second location:

I do believe the ALTC survived as an ongoing entity until 1938 so this foreclosure notice is a very intriguing find. It appears the Shorins partnered with a couple of members of the Rabkin Family and together they owned the four story building that had housed the ALTC since around the time of World War 1. I have not seen any associations between the Shorin and Rabkin families before, so this bears some further investigation. The connection with a paper company is intriguing as well.

The building, as you can see, was auctioned on October 14, 1933 so it seems possible the ALTC continued to maintain a presence within as renters but again more research is needed on my end.  The Shorin's were starting to heavily invest in gas station properties around Brooklyn at this time, so there may have a been a plan in place for dumping losses into 7 Debevoise St., or they just got over-extended. Either way, this further supports some reports I have seen from this era concerning the family's real estate investments. The family and ALTC primarily did business with Manufacturer's Trust, so the Williamsburgh Saving Bank may have been brought to the table by the Rabkin's.

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