In re 500 Fifth Avenue, Inc.

Appellant Wise Shoe Company (Maryland) occupies a store under a statutory tenancy since the . expiration of its five-year lease on August 31,1947. The rent under the lease was a percentage of the tenant’s gross income, with a minimum annual rent of $11,500 for the first two years of the term and i);12,000 for the last three years of the term. Commencing Sep1 ember 1, 1947, the landlord sent the tenant monthly bills for $1,150, representing a 15% advance over the minimum rent payable at the termination of the lease, which sum was described as “ emergency rent ” and was paid. The bills recited,…