New-York tribune., 1907-12-11
MANY POOR BUILDINGS
FINE HOUSES AFFECTED.
G.. r. Daris Censures Those Re
sponsible for Such Conditions.

G. Richard Davis of A. L. Mordecai Son, spoke
last night on Building Loans before the real es-
tate school OF the West Side Young Men ChrIs-
tan Association. in 57th street. between Elsnth anu
Ninth avenues. He said that the greatness OF TINS
city was due largely the enterprise OF builders.
brokers' building loan men and operators, ana mat
in no place the world to-day has such city
of magnificent private homes. apartment houses
hotels and buildings been erected the great
majority of which have been put UP by the specu-
lative builder the assistance of the building
loan men He also said that ii was true that many
houses had been put up in this city IN tne last
few wears by speculative builders which were so
poorly constructed planned that these operators
should be severely condemned In some cases they
are SO cheaply constructed as to show signs OF
decay shortly after completion But unooupteoiy
the worst results of such buildings are the chects
said Mr. Davis that they have had upon the value
of similar property which. however. was carefuiiy
and honestly constructed. Building loan operators
and companies have been severely CRITICISED iol
making loans TO the builders who erect such miser-
able types of structures and for financing the
building operations OF men who. though hnahciai'y
responsible have no knowledge at all OF the proper
way in which build. 1t is an easy matter 10
crtcise but fact Is that for severai years past
builders OF this type have been overnumerous ana
the building loan men have only done what any
other business men would do-invested their money
where they deemed their security unduestioned ana
the they loaned II 10 responslole-Decauee ~
was their means Of livelihood
Mr. Davis further said: You cannot hold the
buiIding loan men responsible for poor building
construction. and tho builder himself is not tho
only one blame. The responsibility must De
shared hv those indiscrimInate investors who pur-
chased these properties and who considered only
one thing when they were buying. and that was
the price And the burden must also be shared by
the appraisers who advised their clients 10 loan
their money in the form Of permanent mortgage
Investments on such properties without seeming
n recognize the difference between good house
hut have ad
the owner OF the house costing $4,000 they have
TO tho owners of the building adjoining OF the
same size but honestly and properly built and
costing maybe u per cent more.
what has been the result? Within the last
year there has been increasingly marked cessa-
on OF building and sales of the finished prod
uct has become materially diminished. You hear
the cry Of these unwary investors talking about
the skin builders and how their houses are fall
ing apart and how tho repair bills eating up
their mcconnell denouncing good builder and bad
builder alike and the building loan operator as
worst of all because they find themselves. II I
NAV use slang stuck" and badly at that Hear
ing and realizing these facts. these appraisers have
lately est blished a basis OF estimating cost.
reducing the price a cubic foot but going in the
same old way. appraisng both the good and the
bad on the same basis. only now they are going
to the other extreme and valuing a well built
house at below to allow for the depre
citation OF the poor The investors or at least
their advisers. the appraisers and brokers, do not
seem to know. refuse to recognize II they do
the difference between good house and poor one.
between real worth and the make believe. II In
yaluing new buildings a few years they had
used more discrimination in noting the quality Of
the material and the workmanship. they would not
| have figured all houses Of similar type at the
Same rate a cubic foot Are you aware,
gentlemen. that I'm building fftyfoot front six
story apartment house, such have talked
about this evening, II you draw your specifica-
tions calling for the cheapest kind of material
and give your contract to the contractors who give
| YOU the lowest grade OF workmanship. you can re-
duce by at Is per cent the cost of your build
ing In comparison to the builder whose specihca-
tions call for good material and who employs only
such contractors know how TO properly put IL
| together?
in your trim specifications whether you 4-inch
| base around the room or a l2-inch base? Or.
| whether you 5-panel door with three We
neers, or an expensive 1-panel door with FIVE
yeneers? And will almost casual investigation
show the difference between good plumbing fxt-
ures and cheap ones, and half-inch lead pipe used
for exposed connections when II ought to be linch
galvanized iron? And. il you can take a marble
and lay it on the floor and have 1t roll across the
room like 1t would downhill. you must know that
the floors are level and the beams have not been
properly laid and If you Will take pocket spirit
level and place Il the plastered walls you can
| tell in a moment whether the partitions put up
plumb or whether. 1 have seen them look. when
YOU glance along them like the top of an ocean
wave How many investors appraisers notice
whether the steam heating in a new house IS mere
w Joke or whether It is put there to give heat.
or consider whether a hot water tank containing
two hundred gallons Is sufficient to supply twenty
four families. And gentlemen. you could
go through a finished house. and although you can
not see what is inside the walls you can discover
the good and the bad points that are exposed.
..Tbe capable and trained builders who build hon
est houses and the building loan industry have suf-
| ferad severely through the faults of what hope
| is a rspidly decreasing element among the builders
II investors and real estate men alike would edu-
cate themselves properly to judge and exercise their
| discriminating powers IL would put stop to the
demand for such houses simply because they were
cb,ap and the building loan operators would find
pIeptv of good builders to buy their lots and take
! their loans from them. And these same builders
woud have no difficulty in selling their finished
ro5uc. al a fair profit 1t would be possible. fur
berroore for appraisers to figure building costs
,i,h greater confidence in their correctness and
! nth more reasonable and stable results.
..It seems TO me that further discussion of this
,hiect In the future cannot fail to be of interest
ard of great value to you. gentlemen. and your
,,apaping director said to me that next year IL
40 more than probable that lectures covering this
| suhtoc, Of building construction will be given by
men qualified to discuss II.
IN THE AUCTION ROOMS.