New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-07
Reasonable to Predict
Beneficial Results in
Near Future
/ HARMONY AMONG
BIG ORGANIZATIONS
Bill To Be introduced to
Relieve Second Mortgages
from Usury Taint
By JOHN FINCk

II the conditions created last year
form any basis for speculation, 1t will
be safe 10 predict optimistic realty re-
suits in the near future.
Real estate owners have been over
burdened for a long time with many
unjust eyactions and impositions. but
now that property is in strong hands
the situation "a considerably clarified,
and there is a strong tendency toward
an upward movement and more gem
eral realization that ground Is stable.
fixed and determiHate and not subject
10 such violent fluctuations as We have
lately seen in Wall Street.
Though real estate investments do
not offer the same alluring prospects Of
speculation as stocks. one is, however,
reasonably sure Of his investment, and
nothing short Of a volcanic upheayal
can undermine the stability and per-
manency OF the realty investments.
The courts OF every state IN the Union
have recognized this distinction, and in
all instances direct funds TO be in
vested in government bonds, real es-
tate or real estate mortgages.
A condition has been created in the
last few years which augurs well for
the future Of real estate. Civic So
cieties, allied interests, real estate
boards and numerous associations have
We'd with one another in an attempt to
ameliorate the deplorable condition
which confronted real estate for many
years. Public minded citizens have
been on the alert to guard against fur
Their chastisement. and through their
fundamentally much needed remedial
legislation has been secured and Of
lensive laws defeated
Many laws were passed in 1916 tend
ing 10 the betterment of real estate
The vexed problem Of the New York
Central Railroad. on the West Side
has been happily compromised 70 the
benefit OF property owners.
New Tenement House Ruling
The modification Of the tenement
house laws permitting the builder 10
use some reasonable discretion and dis
pensing with many unreasonable re-
quiremeats will prove very large
saving without affecting any substan-
tial rights Of the tenant.
The plan OF the City and Suburban
Homes Company TO erect model tene-
ments for colored tenants in certain
prescribed districts will happily ad.
just n vcXatious problem.
The consolidation OF the various city
departments with a single function will
minimize expense and will enable own
ers 10 meet the requirements of ar
order. where formerly they were
threatened with multiplicity Of or
dsrs, all bearing on the same question
but conflicting with each other in az
aggravating manner. This means con
solidstion o. building inspection.
The zoning system, lately adopted
will tend very largely 10 protect own
ers from improper encroachment of IN
desirable construction, and with the
proper regulation Of height of build
ings will be OF vast benefit TO real
estate and enhance values.
Much constructive legislation was
adopted in 1916, all Of great aid TO real
estate.
J. II is much TO be regretted that after
all the hue and cry nothing has been
accomplished TO relieve real estate
| from its excessive contribution TO city
and state. Meetings have been held,
committees appointed and many plans
suggested TO devise some means OF
meeting the annually increasing bud
/ gets, but so far real estate alone bears
/ the exactions. Mayor Mitchell, recog-