The sun., 1918-11-03

as liberal financial support as before the
panic. when the upbuildng of the city
was tho wondermeIt of the world. The
curb on construction viii be reelected
In higher rentals and greater security
for investments. There will be no
building of lofts in nigh class property
as in the past
Factory buildings Mr.. Downing con-
tiuued, have no place in side street
sites valued at $4,000 TO $4,000 a lot.
and lenders ard the coming law will pre-
vent this, A new character OF i'm
provement will be developed for side
street property"
Overproduction OF every tyne of
building. Mr.. bowling intimated, worked
to the advantage of the tenant, who be-
cause of the oversupplv could and did
mako terms that the owners had TO ac-
cept or go without income from their
property The war has changed condi-
tons and now IL Is the landlord who is
making the terms. and the tenant Is
willing to accept his terms. The compe-
tiuon which worked against tho landlord
previous to last year is going TO work
against the tenant in the next few years.
Mr.. Bowling thought. The situation has
cured itself and not until a new set of
lenders come into the market will there
DO any danger of a recurrence OF the
condition present few years ago and
to the overliability OF owners of money.
Financing of building operations in
the future viii Do on so or 60 per
cent. basis with the likelihood MAT 80
per cent. viii be the terms. Initial
capital will be needed therefore 10
launch building operation unless pur-
chase money mortgages can be secured
10 make up the difference between the
hill ttol oaI hA inI
port obtainable in the mortgage mar
ket."
Such restrictions Mr.. bowling con-
siders more beneficial than harmful be-
cause they will curb the desire to pile
Up buildings. Return OF peace will
be followed by a flood OF money for In
vestment in real estate. Mr. Bowling
thought. He said tho buying will be
chiefly in business and apartment prop
critics. Both hold a very attractive posi-
ton In the market because of the reve-
nue. derived. Money which had been
attracted by Me more lucrative business
az developed by the war will find its
way into real estate when large earnings
have stopped Business men and con-
Germs, too, will invest some of their sur
plus funds in real estate for investment
Many firms have found II profitable
to purchase their homes.
There is no doubt whatever that
property on Manhattan Island will al
ways retain it's value" the speaker con-
tinued. Although real estate has its
ups and downs like other investments.
its value has never dropped to such
degree as some stocks and bonds in
the last few years. What property In
this city, valued at s234.O00 in 1906.
is selling for $4,000 to-day? In 1906
the stock OF the New York, New Haven
and Hartford Railroad was selling at
1924 share. 1t was considered a good
investment and estates and individuals
bought heavily of this security. The
stock of that company to-day is selling
at $40 share. There are other stocks
that have been disappointing as invest
ments. Real estate on the other hand
has never been n permanent disap-
pointment. Values always swing back.
Depreciations in realty values often can
be attributed TO the people in possess
sion. Ownership of real estate Is a
business and unless one takes care Of
business business will vanish.
Changes In the character of a section
should be noted by owners and steps
taken to meet the changes. The ten
dency Of business has been nor,hward