New-York tribune., 1896-11-28
TO WORKINGMEN.

HOMES At LOW TIME RATES
TO wORKINGMEN
N ,rorpan g. Co. the United States Trust
,y IN. Fifth Avenue Bank and the United
e., Marriage and Trust Company will offer
UUac,bcr / for public subscription. the capital
.r If the City and Suburban Homes Company.
so-noratcd under the laws of the State of New
yo,t "Iis objects" as given in the prospectus of
~ w. comnonv. .'s,c TO offer to capital what tho
,o.,o-s believe TO he Il safe per cent invest
.,, and AT the same time supply to wage-earners
o,od wholesome homes at current rates 1t
-" -, o,o,i6. the very best accommodations from
~. s,andpoint OF hygiene. and the largest degree
u home comforts consistent with a fair return
,on the capital invested
Tho cap,tal stock Of the company is $100o,OOO. in
sha,es of so each. entitled TO an annual cumu-
,a,,ve dividend Of per cent. Shares have been
",aced AT this low denomination in order to make
,ns company thoroughly popular. and with the ex-
nc,a,ion that wage-earners will ultimately invest
soma norton of their savings in the stock of an
n,nrrrjse conceived solely in their interest The
.xnerence Of model-tenement ventures at home. and
sbroad mas been uniformly successful that the
CITY and Suburban Homes Company believe their
shares will prove perfectly safe investment They
will be attractive to holders of small savings it is
thought because they pay from TO ~ per cent
more than sayings-bank rates and it is expected
tho, the stock will be readily convertible into cash
The company Incorporated July : last
such was the confidence of conservative investors
IN this enterprise and their determination 10 bring
Il N a successful issue. that ss45.00o of its capital
stock was underwritten Immediately. hut on ac-
coun, of the prevailing uncertainty the directors
considered II advisable to delay the commencement
~ building and defer the public Offering of stock
until after the election In the interim. however
in addition 10 the underwriting. subscriptions have
been received aggregating S3it.V1
To RE DlSTRIEI-TED WIDELY
The company however desires TO distribute its
stock as widely possible. because the larger the
circle Of people financially as we'll as morally in
,erested In practical housing reform the larger will
be ;,s development. The moro subscriptions the
company receives for five ten. fifty and one hun.
pleased II Is expressly stipulated that the under
writer's stand simply as guarantors and that
whatever proportion shall be subscribed upon the
public offering of stock shall be deducted from their
In making lis financial estimates. the company
has taken the highest estimate for cost of build
proved by men who own and manage extensive
tenement properties Income has been caculat ed
precisely the same basis of rentals Is charged
for the ordinary tenement-houscs In the locality
where the company expects to build, and yet IL IS
found possible TO pay per cent dividend on the
capital. earn safe surplus. and give apartments 8
fully q per cent larger than are now given. with
hygienic, housekeeping and moral comforts vastly
improved.
The organization of the City and Suburban Homes
Company was promoted by the Improved Housing
William Howe Toman secretary. The council was
the direct outcome of the Improved Housing Con-
ference held in this city las; March under the
auspices Of the Department Of Dwellings, Cons a Mt
A. Andrews chairman. Of the New-York Association
for improving the Condition Of the Poor. whose
president. r. Fulton Cutting. has for many years