The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-06-16
A NEW TDEJ IN RUfLDTNu

upul III lvllOH UNI STU lS O'Ii4t the gv ,i.....
rate demanded forsinilar quarters i'm clsa,.,3
respectable localities in thcup.,own w.rl.",
this city and Brooklyn. The-care tl.n.,a,t
be bottom figure. below which the an1iori
cannot 20 and realize even nyrpcr, .,,,
his investment Anil moreover. tho- .nrlos
hold ont no hope 60 tic tenant. however ifoo,t..
! Is and however long he may uayh his rpnt uf oy,r
| owning his own dumrilc. lie Is o. hc f.rovo,
! ai the beck and bidding Of n landlord. Now /,
| any one should dovlsc n plan by which four
! equally good rooms In n separate lworir, ami
| an equally clean and respectable locality copII
! be given to the workingman Mt SO month. and
he be enabled, in addition. and simply b, max.
ing these monthly payments. to uay Cor anlae.
! quirc at the end Of ton years free and aear
fee simple title to this property, he would ac.
compiish. it seems to us, something that tina
workingman. and. indeed. to all persons in
| moderate circumstanccs-lOrthcs same rrincins
would apply to more expensive dwellings,
would be Of very great. in fact. Of almost ine,l-
culablc advantage. This thing has been dons
within sight " New York-in Now Jersey.
About four years ago n number " capitallsis
not real estate spectators, but bankers onJ
retired men Of business. who wern satisfied
| with seven per cent. upon their money. DO.
vised such plan. and determined to test 1t in
actual experiment. They made up q too Il
100000 and put it into tho hands Of ono &
| their number. who WIS To- have personal con-
| troll Of the operations. This gentleman krru
no more about building than he knew atouttls
| planet Jupiter but he was of keen business "a.
! eacity. and selecting suhorlinatcs II trained
mechanical skill. he went about the work vs. hs
would have gono about tho manufacture d
boots and shoes. cotton goods. or any other sta.
| pie, paying only small profits. AMI requiring
/ fI d
successful production. Ho bought a tract q
land, laid out and opened streets. built rail.
way station. Investigated the value Of building
material. and studied over the best plans for ihi
class " houses ordinarily wanted hy p"opir who
| live in hired dWclliugs. This occupied al Data
year, and then lie was ready to begin building
| operations.
His lots by this time had cost him about $3.50
each. and the problem was how to build on
| these lots a house II iourrooms. costing usually
say $500. and one Of xix rooms. costing usually
sl,50n and one Of ten rooms. costing usually
$4,000 land thus on and UPWARD and sell tha
same. respectively. ON monthly payments 4
say SO, sl2. and $50, nnl SECURE % the buyer a
fec simple title To the house. az tue expiration
OF ton years. free from an incumlranee.
a very little calculation will show tina; Sc,
paid monthly, viii not pay for house costing
taxes. and interest on the capital Invested, in
ten years. or IN scarcely any other number Of
years. Therefor. tine real problem WAS how "a
reduce tn" cost Of construction.
In ordinary c.ses ana owner, intending "a
build, submit, his plans 90 builder. who cons
tracts 60 10 AN the work. supply all th" matr rial
and deliver tAe house. fully completed. alta
specified time. AM for specified sum II
money THIS builder may be- in poor credit.
and therefore have To pay two prices for hid
material. or he may be- "a slack man. who inilt
To- get more than half days work where hd
cgght TO get n whole day. or he may want u
profit largo -noug'i ~ r-,.-- - ~ IL" mi II a
year. Whatever the reason. the house usually
costs the owner from fifty to 'vcnty per cent.
moro than It would have cost him. II. being q
practical man aud a Iuaintel with building ho
had looked after his own work. AMI bought his
own material % first hands and for cash. THE.
| evidently. was MT the way 20 solve the problem:
| and therefore the eN-bankcr adopted auothcr
! system.
He fret applicdto his operation, N. primo p'f
Of n division Of inbor lie employed one .ot (
men 10 d.: collars. nrothcrto lgy foundations.
another - a. ma-on work, another o. go, up
frames. and another e. do general carpentry.
and he paid them. NOT by the day bur ny tho
mass SO much for tho whole work performed.
q ala
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lt,,,, c' ,i,,,, t.',f ,ba, ,r'.,'o,., md IMAM.
,I.1,s,,,,, h..r, -, a,,J AK H., ,r..lsoi for
.,son1.t ~, b,,,in,. ,I, ,,ar,,. a, IN, quarry
a,,1 o,,,I,,,i,', ,,o,,. ~ marble ,ror., r. N
Ii., ,.n ,,r,,,,,I
tn 1880 'hosolv,, M, rrohlo,r ,,l,.o "a.
AL, h,s h,,,, ,r'W ,,i,,, ,,or,oi,.,. p,rra
,,,., ,,r. 80 ,,,i,r.I ,',.i,'.. ,~.
,'r..si',, ,,n.,, r.oI ,s,a,, ,',rti,uIor., ba.
i.,.,',.'i..,I r',i',,. rn..r H., i,. ,r..t,l
p'ei ~ "''' ~ '"'''7 '''"i, "' ""'
and sold n"ary two hundred house. ani Nlil
uu. with NJ local in ,lustrytl give II im4c'i - r
.,,, ,.i.,t,..,.. .,.,, ,,.i.i.l 1,.- .f..,lv A
9"It"'.' '''''."- ""' Wa "'' "
dozen shnl ANA -tlr :. "a handsome ti'.l i
co,iplo Of n,w-pau,rs. II public library nd
90. j,
ieanlhs rp'ih'A "el-' vH'u,u'u '' '''
is attended hy one hundred and evenly "o'.
ar, md a total IF fully a thousand or i.y alA