New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-05-17
GOOD HOMES AT LOW PRICES.
THE WORK OF THE CITY AND SUBURBAN
HOMES COMPANY REPORTED AT ITS
ANNUAL MEETING-cITY APARTMENTS
AND COTTAGES AT HOMEWOOD.


The second annual meeting Of the stockholders
Of the City and Suburban Homes Company was
held yesterday at the Offices OF the company. No.
Isl Fourth-ave. the president L. il. l.. Gould pre-
siding; 764ls shares were represented in person or
by proxy
The four directors whose term expired this year
were llessrs Samuel d Babcock W. Bayard Cut
ting Isaac ~ SeiGman and George w. Young.
They were unanimously reelected for a term OF
three years The president submitted his second
annual report.
The company up 70 April 90 had invested about
S.lo0oo0. The work OF this company is proceeding
to the satisfaction of the Beard Of Directors. which
consists Of such men Samuel u. Babcock, r.
Fulton Cutting w Bayard Cutting. Charles Stew
art Smith, Cornelius Vanderbilt. John d. Grim
minis. Isaac y. Selisman. Adrian Iselin jr, George
w. Young, Alfred T. White and Joseph 5. Auer-
bach.
The investments already made being considered
absolutely safe and, so far as they have had time
to develop. remune.ative the stockholders recently
assented 10 proposition Of the Board OF directors
TO raise the capital stock Of the company to S"o'-
cc) The object is to secure further resources Win
which 10 develop Homewood, the companys SUD-
urban estate in the Thirtieth Ward OF the Borough
OF Brooklyn and to build upon large block OF
property owned by the company in First-sve. ana
East Sixty-fourth and sixty-ffth SITS.
The Getty homes"-the officers of the company
prefer this term to model tenements'-erected In
West SiXty-eighth and Sixiy-ninth SITS. near Am
stcrdam-ave., represent a new departure In tene-
ment- house architecture IN New-York They are
convenient ard thoroughly healthy and com
Portable. There are "a apartments OF TWO rooms.
236 apartments Of three rooms 81 OF four rooms
considerably less per square foot than for teie-
monts in the neignborhood without the convenences
buildings afford Though the builders finished their
work three weeks ago. all Of the apartments
with the exception OF about cighty-nve, have pcen
let Most Of those san unoccupied are three-rooin
apartments. admirably adapted for the use OF
young married people with one or two children
References are required of prospective tenants as
well evidence that they have been accustomed
10 pay their rents In their previous quarters
The company this spring 4 giving particular al
tention 10 the development Of Homcwood, which
Is situated near Bath Beach. Brooklyn! ana Is
reached in about fortyve minutes by trolley, with
out change. from Park Row. for hve-cent fare.
The company IL developing this tract OF twenty
eight acres having laid sewers. macadamized
streets. planted trees and hedges etc IL has built
siXty-nve cottages tasteful in architecture. well
is building thiriy-hve additional houses. As
the company makes contract with builders for
one hundred houses at time. /; Is able TO sell al
wholesale rates. II oilers such liberal terms 70
purchasers as. for example. paying 10 per cent In
cash. or IN lieu thereof furnishing a bond from
surety company for that amount and allowing
the urchase price In monthly nsialments with
the option OF paying either IN whole in part
advanced payments The lives OF purchasers are
also insured. so that the family feel secure
IN the possession Of the home. though the
Wage-earncr dies before the term OF payment has
been completed. 4 man who Is receiving from
1900 20 $500 year can, through this company,
become the owner OF a comfortable home. at a
| a monthly rental In New-York City for the same
number Of rooms IN ordinary apartmeni-house
The company intends for tho immed ate future 10
pay particular attention 10 the development Of
liOmeWOO1