New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-06-28

rank a. shaw ldSL week 70 d lAlOui~
reporter. "for the purpose Of solving
the most serious economic problem
with which the section has ever had
tc contend. The plan under which It
is expected to bring about this change
has been analysed carefully by many
lawyers and business men, who have
stated that it is a practical one and
based on sound business sense. me
corporation in striving to solve the
local economic problem IS performing
a great civic work, not only for Har-
lem. but also for the whole OF the Bor-
ough Of Manhattan.
"Py removing the cause Of depres-
sion in the section the corporation
homes 20 re-establish values, thereby
making investments safe and desirable.
II thus hopes to give confidence to the
mortgage interests. safeguarding the
owner against foreclosure and mort
gagees against the possibility of TAX
ing over properties which they do not
want to manage; to stimulate new
buildings of a character suitable for
the section, to attract desirable ten
ants TO the section and TO improve con-
ditions generally, all of which Will tend
to improve local business conditions,
not only for the real estate interests,
but for all classes Of business.
"The fruitiou of the strenuous work
of the Committee of Thirty has not
only been the launching of the Prop
crty Owners Corporation, but the
bringing back OF confidence to many
owners who had abandoned hope and
had become panicstrickon. Many OF
these owners have been Influenced %
withdraw their properties from the
market, ard mortgage institutions
which had made it their policy to call
all mortgages in the section as they
became due have changed their views
as to the future of Harlem and have
discontinued that policy.
"The cause of the realty depression
in Harlem is due to the invasion of the
section by some $4,000 negroes, who
occupy many of the blocks north Of
l25th st. This negro occupancy rep
resents about - per cent of the entire
population. Since the invasion irst
took place there has been a steady de-
cline in real estate values in the north
ern section. In the last few years
houses in some of the blocks south of
125th ST. have become occupied by col
ored people. This has added to the
general depression and the shrinkage
In values mas dUlOuHltu " ONtl SAoNT
5000. which is about 40 per cent of
the total estimated value of property
in the entire district. With such
substantial loss actually sustained, and
a further loss to be looked forward TO
unless concerted action was taken, the
people of Harlem felt that it was not
good business to permit the invasion
Of their section without making siren
uous effort to safeguard their interest.
Considering that the total Of property
amounts to between $500, 100000 and
$500 900, 900, it seems to those active IN
the movement to be well worth the eff
fort.
"The situation might not have been
50 serious if the negro population had
been content to live in certain blocks,
but this they were not willing to do.
Many colored people do not care to live
in blocks with their own race; they
prefer to live in blocks Occupied by
white people If they cannot obtain
apartments in such blocks they rent
private dwellings and resort to rent
ing rooms to earn their rent. I'M
mediately upon a colored family NOV
ing into an exclusively white block the
houses become vacated by the white
tenants, who move to other sections.
"The work of the corporation will,
therefore, be TO curtail the occupancy
Of such property by the negroes, and to
assist owners in replacing the colored
occupants with white tenants. That
this can be accomplished is borne out
bv the fact that blocks of houses for
merly occupied by colored people have
been renovated and rented 70. white
tenants
"As an example, attention is called to
the block of l22d St. between Park and
Madison avs The buildings on this
block are five story fathouses and
few years ago were occupied exclusively
ty negro tenants. The owners realiz-
ing that such occupancy had caused
them enormous loss, and also that their
property with such occupants was not
a ready asset, agreed TO replace those
occupants with white tenants. They
agreed upon a date to notify their ten
ants to vacate and after renovating the
apartments found little difficulty In
renting tiYcm 10 white tenants, and
few people to-day realize that the block
vas ever known as negro block. The
houses have returned to their normal
value, and the owners are realizing
much better return than they did dur
ing the colored occupancy
ain working out the plan for the
proposed change it was realized that
provision must be made for adequate
housing, in a proper location, for the
negro population. With that in mind
the corporation will cooperate in or
ganizing an association for the im-
provement of the social condition Of
the negroes, with the following objects.
4. p1nnf the
section north of 135th ST., east of LenoX
av.. and will make that section attrac-
tive by the construction of modern
buildings that will be best suited to
Continued on page 3, column