Evening journal., 1906-12-21
BUILDERS ARE
HANDICAPPED
Difficulty In Obtaining Loans
RetardS the City'S
Growth
REALTY MARKET DULL

Civic welfare should be and is the
foremost thought Of all good citizens,
and for that reason everything which
tends to the betterment and welfare Of
the place where they have made their
homes must be Of transcendent inter-
est, as well as the forces which retard
Its progress and extension.
Primarily that which keeps back the
growth OF Wilmington and prevents its
material increase in population and
prosperity is the unwillingness of trust
companies and individuals having
money to invest, to assist the builders
in their efideavors to add to the num-
Der of residences Of a character suit
able to the needs Of people Of moderate
means, for the reason that almost any
other form of investments yield larger
returns in the way of interest than
bricks and mortar. This unwillingness
to make loans is the primary cause Of
but few houses being built at a time,
and when they are at once offered for
sale by their builders, in the effort TO
recoup themselves for the money in
vested This they are obliged to do,
as their means are limited.
This is not the case in Philadelphia
and in other rapidly growing cities.
where the builders erect rental houses
in large numbers. the banks and other
lenders being satisfied with a small in
terest with the idea that a larger pop
ulation means increased business for all
concerned.
Unequal Taxation an Agency.
Another thing which retards the
growth of the city as regards small
\ houses is an unequal system of tax
alton, the method being to tax small
house up to and beyond its full value.
while large residences are lightly dealt
with
It is also claimed that the prices Of
vacant lots in central locations are held
at such high prices as to render it i'm
possible to erect low cost houses there
on and get a fair return for the
amounts invested, although lots are to
be had in outlying sections in any
number and at almost any price. In
building in these locations it is neces-
sary to consider the cost Of transporta-
tion and time consumed in getting to
land from work questions of extreme
Importance to those Obliged to depend
on their daily toll at a moderate wage
to sustain themselves and their fam-
lilies
Some Activity.
At the present time there is consid-
cradle activity in real estate circles,
mostly in small deals, although the
holiday season has reacted against a
large volume Of business being done.
One Of the representative dealers in
realty suitable to the needs Of the
moderately we'll off is A. B. Stayton
whose offices are at 7O7 Shipley street
When seen yesterday he stated that he
had any number OF houses for sale but
very few for rent, his sale list COM
prising 500 properties, while his rental
list, IL increased by 200 properties
would not meet the demand from pro-
spective tenants.
Mr. Stayton has several fine new
houses I'm desirable locations Of FIVE
rooms and bath which can be purchas-
ed FOR reasonable sums payable 500
down and the remainder in easy install
ments, thus making il an easy matter
for any man having a little money to
own his own home in a few years.
Robert Reynolds, another representa-
tive dealer. with offices at $50 Market
street, has no houses to let, although
he has a large list Of properties for
sale many OF them being rare bargains
for home or investment purposes.
Other dealers willing TO sell but with
nothing to rent are to be found scat
tered throughout the city. their con-
slant cry being for houses for those
who desire to rent at reasonable fig
lures.