New-York tribune., 1911-11-29
sprclAI ANNOUNCEMENTS.


growth and development took 1orm IN tns
year 1900. when Philip y. Fay'on' n''
blazed the path OF the negro reai e''@''
agency business in New YORK. tnus ao-
crediting 10 the Philip a. Payton, Jr'' Noi'-
panv. Of which he is now preslseht' .n'
rightfuIly earned title Of Ne" h"rA'
pioneer real estate agents
The pioneer efforts OF the Philip a. ray
ton. Jr.. Company marked the beginning
OF the turning over TO negro tenants Oh one
of the best sections Of Manhattan lsIsno'
and some 100000 worth OF tenement
houses and private dwellings In this colony
IS owned by negroes themselves In no
part Of the city are there any better DUNK
or more modern tenements for any class OK
people than are now occupied by the ne
groes I'm this section.
The sociological phase OF this situation Is
/ interesting to observe and study from an
/ economic viewpoint az indicating the IN
dustrial progress OF the negro community.
I Almost every trade and profession Is rep
resented and the recent census shows tnst
/ business is represented by ten grocers. two
butchers. ten restaurants one oyster
house. one laundry. nine hair dressers.
eleven BARRIERS four undertakers. ten real
estate offices. one bakery. nine employment
agencies. one pharmacist, six ice, coaf and
wood dealers two confectioners. four ex-
pressmen. one chiropodist and six tailors
Prejudice requires the negro tenant to
live where ne II permitted often rather
than where ne would prefer. AS result
ba il many times compelled to continus
occupving an apartment. even though IL
may have become unhandy % his WORK or
unstIited TO his needs This ract. althousn
II works a hardship TO the negro MAKES
for profit 10 the owner Of the coloreo tehe-
ment as every owner realizes that ef-
penses are reduced 10 minimum "heh
charges are few.
There is as much difference between this
Harlem section and the eos. commonly
known as san Juan Hlll, as there Is be-
tween the lower East side and Washington
Heights.
Taken all in all as far ss the character,
of the tenants is concerned, the Harlem
section compares very favorably with any
white tenement house section in the city.
Surely no one is so prejudiced that he VIII
not at least admit that it is far superior IN
every respect TO great many sections IN
the city where there is not negro hVihs
within a radius Of five miles
Colored tenement property. when prop@
erIy handled. brings greater returns on ths
Investment and shows increases in prop
erty values that more than faVorapiy COM
pare. in very many instances, with otner
nroperty. The "colored sections" once es-,
tablished. grow steadily in size. The cob
ored population in the city Is steadily M
creasing. The number OF vacancies IN coz
ored tenements is proportionately less fnsn
others when this property Is properly ana
progressively handled
To-day the investor is more concerned as
10 hts return than as 70 the nature OF MS
Investment Many people. however ana
particuIarly those who have never ovusi
anv colored tenement property in this ser
ton are often skeptical as 20 what tneF
will actually net When this company is
-, charga as agents Of the property they
offer for sale as brokers, they are AWAY
ohio nv an exhibition OF their rent book.
statements rendered the owners, ETC. -
successfully overcome any such douots'
and for those who are not willing 10 a.
sumo even ordinary business risk In operst-
ing In coiored tenement property they hsFs
worked out two guaranteed propositiohs-
First through an arrangement they haNs
made with The Revenue Realty CompanS'
a New York corporation with cepitai oi
10000 and a surplus Of 100000. they srs
able 20 effect five or ten year leases on any
colored tenement properties which they
offer for sale on 10 per cent net basis, the
company assuming the entire responsibility
NJ the property Second, they sell seconu
mortgages bearing interest at per cent a
wear for the unexpired term which The
Revenue Realty Company guarantees both
as to interest and principal
These naturally prove attractive invest
ments as they show a large earning ana
are doubly safe; first. because OF the Sc
curity in the valuation OF the properties
and. second, because Of the security IN the
guarantee. That their proposition appea"
10 the general public is best shown III 'h7
fact that during the last eighteen months
the business depression NEUTRALITY-SUSPICIOUS.
they have been able 20 turn over nearly
g .O0O.OOO worth Of New York real estate
one Of the reasons that this section -
very much better than any other coloreo
section in the city is due 70 the fact tnat
the regro as an agent has played no in
corsricuous mart in the renting OF these
/ houses to colored people. The more tnis
control can be centred in negro agents the
less fear need there be Of negro INVASION
as the negro agent knows his people and Is
able 10 discriminate between the good ana
the bad. II this section were completely IN
control OF negro agents its few bad feat
ures could forthwith be remedied
The Philip A. Payton. Jr.. Company have
won the confidence. not alone OF tner
many tenants, but also OF the great num-
her OF clients whom they have 50 success-
fully served during this long period past
Their methods and policies are the secret
OF that success, and are worthy OF emua-
ton. That the plane OF the colored tene-
nnert property has been elevated from
botb the investment and other standpoints'
is due In no small measure 10 their EFFORTS
That they are specialists is perhaps ths
secret of not alone the remarkable success
of the concern during their many years o,
increasing activity. but OF the individual
progress Of Mr.. Philip A Payton' Jr.'
whose success presents one OF the most
credltable and commendable instances OF
his race. for in addition 10 his important
and extensive real estate interests MI
Payton has always taken keen interest
in municipal affairs and in the welfare OF
bga raee in general.