New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-11-19

have studied this class Of investment model ten
ements are divided when spoken Of into two Sec
-"commercial" and "semi-phlanthropic
The former stands as any business enterprise con-
servatively managed; It takes its normal prohts'
using the balance to improve. The latter concerns
simply limit their dividends to some per cent.
Experts say that among all these there has only
been one not entirely successful financially ana
that the reason OF this ones partial failure was
because II was badly located. too closely resem-
bled an institution In Its structure, had too many
restrictions and rules about II ana got the name
of being philanthropc.
Since model tenement houses do pay, the ques-
ton is why and how. host Of notable New-York-
ers are competent 10 answer this query. Among
those who have taken leading part In this upras-
ing OF such homes for the poor are W. Bayard Cut
ting Alfred T. White. of Brooklyn. both Of whom
pioneers in the work; r. Fulton Cutting, d. o.
Mills ogden Mills Felix Adler. Charles Stewart
Smith, DR.. Z. r. L. Could Ernest Flagg. the archi-
tect; Arthur w. Mlbury and Samuel d. Babcock.
Another who deeply studied the problem and
found In the model tenement house a good invest
ment the late Cornelius Vanderbilt
Several OF these men have been approached o. the
question OF how the model tenement houses have
been made TO pay, and all give series Of interest
ing facts CLEANED from their own experiences.
W. BAYARD CUTTING A PIONEER.
W. Bayard Cutting built the model tenement
houses on Manhattan Island, forming small COM
pany for the purpose. This was back in 1879. He
said TO a Tribune reporter:
remember how the stockholders smiled when
told them we would pay dividends OF per cent
None of them ever expected to get a cent OF div-
dends But we paid the per cent from the start.
ana have bought back some of the stock from our
undivided profits. our success has been due, |
MAKE no Sitembt TO- nsapge orn @T rented We
the neighborhood; our rents are the current price
from slS rs for an apartment down to s. or ST. But
we offer more for the money, and there is always a
demand for the rooms. OF course, this class OF
put up in the nelghborhood with a good deal Of
stained glass about it some of our tenants likely
10 go over. But others come In their place.
The model tenement has. besides this advantage
t covers cove more RE actual ground on the lots DESPITE
nary tenement only covers 65 per cent. Our build
rent: and not only this, it is better arranged S
Good management too. has much TO do with IT.
ly business enterprise. Ii makes good percent
age on its capital 1t does not pretend to be in any
rent he must go or course. as will any business
concern we favor good customers at times. But
vestment and per cent is good interest for money
In New York. Our tenants understand this. and
A feature OF the building that has added much
70 It's popularity and success has been the baths
in its easements free TO every tenant. Just now
we are starting 10 double the number Of these.
ibsre w Sre % people m se oSdps than
At the start t. we put n clu6room This has been
the new baths will go
a NEW CONCERN PAVING
DIR. e. r. L. Gould IS president OF the City and
Suburban Homes Company. organization for
scientific housing in town and country whose
directors comprise nearly all OF the men already
mentioned. The company is new but II is already
paying per cent semannual dividends Dr. Gould
said:
Better air space. the efecting Of economies In
building that the owners OF the old STYLE tenement
90 not seem 70 understand. rooms equipped more
completely and lighted more adequately better
management-that is all there Is 10 H.
For example in new building wherA the
rents will average only about So cents room a
week, we have steam heat in each Apartment This
IL furnished through rising lines OF pine and each
tenant may have radiators by paying a little extra
There are also small private halls current OF air
through each set OF rooms plaster closets instead
OF wooden wardrobes and large number OF two
room apartments, with every convenience those OF
three and four rooms possess. We charge no more
thap elsewhere, much less In proportion
Then. again, we get more space. while providine
all this air and light than the builders OF ordinary
tenements do There IS thus actually more TO rent
a great gain we nave rules OF course but thew
are simple and restrict one. One excellent feat
ure. think, IL our woman collector, who travels
visits the women OF each family She Ands out
what they want, judges the sort Of people they are
and proves friend. She also learns when anythlnp
needs repairing. Once more here gain. We
keep superintendent and force Of men con-
stantly on hand, and have all repairing done
from the inside considerable saving.
Success with buildings such these is largely
keeping them in. This We have accomplished