Richmond planet. [volume] (Richmond, Va.) 1883-1938, 1918-02-09
$50. 900. 600 IN NEGRO HOLDINGS
Colored Race Has Been Active in
Buying of Real Estate Here.

lA'tCc mas )ccn ACTIVE Ill
Buying Of Real Estate Here.
(By John e. Nail. of Nail G. Parker.
The Negro population of New York
city for the past thirty years has in
some measure owned real property
Back IN the days when Negroes lived
around Macdougal street small
amount of property was owned by
various members of the race, which
rs near as | have been able to deter.
mtrc represented about one-half
million dollars. AT that time the
population was small presume Is,
. 600 or 10000 people would be Il safe
estimate.
Vita the northward movement. in
which all peoples joined, the Negroes
took up residence in and around what
s now the Pennsylvania zone, and
during this period of their history
IN the city st. Philips p. e. church
acquired property on West Twenty
fifth street, and later the Bethel A.
NJ. T.. Church acquired property on
the same street. Finally. here and
there few colored people bought
and when the Pennsylvania Railroad
move started the colored owners in
this ncighborhood sold their proper
ties at big prices.
From here they moved to the San
Juan Hill section in the Sixties on
tie West side, but, on the whole this
has never been very promising in
the way Of developing. The apart
ments were ant:quated and the Sec
ton being generally bad. there was
never any evidence Of purchase on
the part OF colored people there and
the better element took I'D residence
in Harlem.
Quite number OF Negroes went
to Harlem in 1900 when white owners
OF properties were unable to rent to
white tenants. These c0lored tenants
saved the day for these owners. This
was the founding of the Negro sec
ton or Harlem, as it is known and
II mad It's start with two or three
houses being opened to them on West
l34th street. Finally other owners
realized tlat through this medium it
would be possible TO keep their pro-
pcrt-es rented, and from time TO time
more houses were opened The color
en- people quickly realized that in Har
lem they were being offered hous IS
or better type than they had ever
occupied before, and it was not very
long before the message was carried
to their brothers, in the lower districts
Of the city.
The neighborhood today has q popu
lat-on OF easily 100000 people. and
stretches from 131st street to Hath
street, between Park and Eighth ave-
10 10
nowhere In the United States does u
condition Ike this obtain.
BIG HOLDINGS OF NEGROES.
!. Naturally the people gradually
caught the spirit OF purchasing real
estate. and since 1900 it Is estimated
by recent census OF their real es-
tate holdings that about 10000 900
worth OF property is contro' led by
them. Among the big single owners
st. Philips p. e. Church, controls
about $1,500,000 worth Of realty. and
1t Is managed exclusively by Negroes.
Nine. c. J. Walker of the walker
Manufacturing Company of Indianap
oils, owns easily $4,000 worth OF
property in this city. The rest is dis
tributed among the population.
The Negro population Of the city
sees the wisdom OF becoming land
owners and they prefer to acquire
Their property in n matter in which
no publicity Is given to it. They pre-
fer to have their identity unknown,
principally for the reason that since
the mortgage lending institutions are
organized in attitude against this
Class Of property for mortgage accom-
mediation and since mortgages are a
necessity. only the courageous mem
bers Of the race dare acquire proper
ty. This may seem broad statement
but 1t Is nevertheless. a fact.
There is nowhere in the city Of
New York where colored owners Of
real estate. or white owners OF color
cd tenements seeking mortgage
accommodation can receive the same
consideration that owners Of other
properties receive. and wherever such
mortgages are secured the owners are
compelled to accept smaller mort
gage. pay q higher rate of interest.
a bigger bonus, in short, terms that
are unequitable
This class Of property and owner