Princess in Big Land Deal

5,000 ACRES NEAR LAKEWOOD SOLD BY THE RUSPOLIS.

Sale to Developers Includes $60,000 Building, Once the Home of the Defunct Chatsworth Club, with Its Notable Membership — New Owner Will Divide Land.

What is probably the largest real estate transaction yet consummated in the State of New Jersey was arranged yesterday by Joshua T. Butler, who sold for the Chatsworth Estates Company 5,000 acres of land, a $60,000 clubhouse, and two cottages in the pine belt just south of Lakewood.

The principal stockholders in the selling company are Princess Mario Ruspoli and Marquise de Talleyrand Perigord, whose consents to sell were received by cable yesterday afternoon by their attorneys, Hunt, Hill & Betts. The land and buildings have been purchased by a syndicate composed of Martin W. Murphy, Edwin W. Knight, and Francis J. Curran, who have been active in the development of Long Island acreage. Their plans are to subdivide the property into bungalow and villa sites, and develop it along high-class lines.

Princess Ruspoli individually owned a large part of the acreage which surrounds a beautiful lake about one mile long and three-quarters of a mile in width. For a time it was used by the Chatsworth Club, an exclusive organization which included in its membership nearly every one of prominence socially, financially and politically in this city and in Philadelphia.

About ten years ago a large two-story hotel of English design was erected, but the venture did not prove as profitable as the projectors had hoped it would, and shortly after the hotel, which was named the Chatswood, was closed, the club was formed.

The Chatsworth Club was organized in 1904, its first officers being Levi P. Morton, president; John E. Parsons, vice-president; Hickson W. Field, treasurer, and Albert M. Bagby, secretary. On the governing committee of the club, which had for its objects the development and improvement of literary and social intercourse, physical and mental cultivation, and also the protection, increase, and capture of all kinds of game and fish, were Charles E. Dana, Clifford W. Hartridge, Alfred Devereux, Julian T. Davies, James B. Paul, jr., and others.

Although on its roster of membership were such names as John D. Archbold, Nicola Tesla, Chauncey M. Depew, Edwin and George J. Gould, Prince and Princess Brancaccio, James B. Haggin, George W. Vanderbilt, A. B. Boardman, and Elisha Dyer, the club was short-lived, its existence having ended about two years ago.

Albert A. Springs of the office of Hunt, Hill & Betts, who is acting as attorney for the selling company, said yesterday that the buyers have arranged to close the deal within sixty days. The property lies about twelve miles south of Lakewood on the New Jersey Central Railroad.