New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-02-13
Miller Tells What United
Realty Owners Have
Accomplished.
IT'S FORMATION A
SAFETY TO PROPERTY
Says 1t Occupies a Foremost
Position Among Taxpayers
Organizations Of the City.

cussed By Cyrus c. Miller. chairman Of
tho executive committee Of the Ad-
yisory Council Of Real Estate Interests.
in an article entitled The Advisory
Council and the United published in
the year book Of the United Real E'-
ate Owners Association. Just issued.
Mr. Miller writes as follows:
Under the intrepid leadership Of
Stewart Rrowne the United Real Is
tate Owners Association has come 20
occupv foremost position among tax
PAYERS associations Of the city In
fact. the association has since iis
formation been a palladium TO safe
guard the rights and interests OF prop
erty owners, particularly those residing
on the Fast Side However. the aiiIia-
tions of the United Real Estate Own
ers' Association are not confined 10
only one section Of the city. Consist
ing as h doe, ~ number OF organla-
tions. its constituents are OF most
commemorative character. The work o.
The United Real Estate Owners. A.
ISOLATION reflects d great deal OF Gn-
selfish effort on the part Of ITS mem
hers. who give considerable or their
time 90 analyzing and studying the
various important matters that afec'
real estate
"The endeavors Of many Of the Off
GERS Of the association are worthy o.
much commentator. for. notwithstand-
rg criticism and opposition. they nave
continued TO do their work along lines
which they felt IL vas their duty 70
follow. The relationship between the
Advisory Council Of Real Estate inter
ests and the United Real Estate own
ars' Association can be no better eN-
u'ained than 20 state that the Original
exception of a council emanated from
he chairman OF the board or counsel
II the United, Adolph Bloch, who Is
lue Of the most prominent ana enef
rotic members. Associated with Mr..
ioch upon the council are representa-
ives from the financial institutions M
crested in real estate and from other
cal estate organizations. BY the earn
o-t and vigorous support OF the small
lioperty owners throughout the city
IT, Bloch has presented 20 many or
he larger real estate owners ana
.rokers A viewpoint which has too
item been d.sregarded. Tie members
IF the Cn.cd should congratulate
Themselves that they can count upon
uch a man a. Mr. Bloch 20 represent
hem and fight for them.
Under the leadership Of men sucn
as Mr.. Browne and Mr.. Bloch, and me
officers Of both the central association
and the various locals. many vital re-
suits have been obtained IN the inter-
osts of tavpavers One OF the most
|conenicuous benefits which was secured
through Mr.. Browne was the defeat OF
the ordinance requiring safety devices
ON elevators. If this ordinance had
been passed. an additional expense OIL
from three 20 four million dollars
would have been paid by real estate
owners. For the first time m the MS
tory Of the city a real estate organiza-
tionsis continually represented oetore
the Board Of Estimate and Apporton-
ment. at its weekly meetings. As IS
well known, Mr. Browne diligently iol-
lows the proceedings Of the board.
Through its various committees and
representatives the United has safe
guarded real estate interests before
the state Legislature, the Board or Al
dermen and the heads Of the various
municipal departments. II has sought
20 have modified or amended MANY
drastic requirements Of the municipal
departments which have annoyed and
vexed the owner. OF late IL is taking
particularly conspicuous position 70
hiring about consolidation OF building
inspection functions. Its legal prose
cutions which have been carried 20 the
Court Of Appeals, and even 20 the
United states supreme Court nave
been Of great good to general real es-
tate conditions. During the public
hearings on the budget Of 1910 the
members Of the United were IN con
tinual attendance. The strength Of tho
association lies in the fact that 70 en-
rolls within its membership almost
10000 taxpayers The political iniu-
once of such body cannot be under
estimated. particularly If exerted along
proper lines.
The United Real Estate Owners As
ISOLATION is directly cooperating with
the advisory council m study OF me
question Of amortiZed mortgages. II
has been suggested by many lenders
and borrowers that an annual payment
of | per cent be made upon the princl-
pal Of "A mortgage. so that m time the
entire mortgage will be paid off. j. has
been estimated that an annual payment
of per cent In ten years would reduce
the principal l3 per cent. Such a re-
duction in principal would merely cover
the annual depreciation IN the value OF
the uroperty. During the recent inan-
cial stringency, the Advisory Council
adopted strong resolution. AZ the re-
auest Of he United Real Estate own
ers' Association, asking financial inst
tutions not 10 raise the rate OF interes 20
or 20 call mortgage loans.
al that time 10 Was recommended
that rather than have a repetition ot
Dlacing the borrower completely az the
mercy Of the lender II would be wise
for the borrower la good time 20 estaD-
iish his equity upon basis which
could not be questioned by even the
most conservative lender. In this man.
ner the entire matter Of amOrt.zatl0u
vas brought forward and a strong
committee formed by the advisory
council 10 snalyZe every phase OF the
question. The advisory council has
upon its own calendar number OF
matters which are of direct concern .,
the members of the United BY having
upon lbs various STATS the leading teen.
meal and legal authorities Of the city
the decisions Of the council are having
great weight with public officials. A
the request OF the Mayor the chairman
Of the Law COmmitte Of the advisory
council has been endeayoring TO wori
out solution TO the problem of build
ing Inspection.
Frequent conferences have beel
held with city officials on matters con
corning real estate, such as the court
, house project, while the Council ha
= been working with state officials OF
: matters OF taxation, budget reform
? and retrenchment policies. The efFec
Of work Of this nature can well be eyi
denced in the reports which have beef