Every evening, Wilmington daily commercial., 1919-12-17
REV. G. /. DOLE CLAIMS
INTEREST IS SMALL
Makes Statement Concerning
Houses About Which Com
plant Has Been Made.

Varying reports having been mace Oh
! the consideration OF rent coinpiaiitS
/ against Rev. George Henry Dole, at the
mavors rent adjustment committee meet
| ing on Monday night, though Every
: Evening gave n fair presentation OF the
case according to Mr.. Dole, the latter, 1t
has been learned, has submitted figures to
| the committee in support OF his conten-
| ton that he is not protteering. In dis
| c,,ssinp the matter yesterday, MIR. Dole
! said he had always told his tenants that
no was not making fair interest on the
investment also that he had informed the
committee that his accounts were open
for inspection. lie claims that his revenue
has been so small that he is willing to sell
I all of his real estate holdings, which in
cludes 2S dwellings, and two stores, being
content with the amount of the invest
ment and fair interest. One house has al
ready been sold. He made the following
explanation concerning the houses about
which the complaints had been made:
II may first state that in computing
rent profits, a series of years should al
ways be considered And may add that,
not since | have owned the properties,
have | made quite per cent on assessed
values, as comparison with pre-war times,
these summaries must show. However,
this is an immatcrlal point. Three ten
ants in block OF five houses complained
of excessive rents. The following sum
maries show the per cent OF profits on the
block, each house being alike:
YEAR 1918.
Rents. ..............S 81 III 90
Taxes, repairs. &c. ............ 96O.45
Total profits. ............... 2lZ.9o
Properties assessed. ....... s., 7,750.00
Interest per cent .......,. .O21
YEAR 1919.
Approximate rents ts-........., 81 $4,000
Taxes, repairs, approximate. Sb3.oS
Profits ............. 4S6.bZ
Interest. per cent 062
Average interest, per cent for
two wears. ........... .U0I
The only fair way of computing profits
is on the assessment; otherwise one must
raise and lower rents with every financial
accommodation; and no one could own
house free from incumbrance and COM
pete in the market. In estimating fair
rents, II should be considered that rents
must pav more than good bonds or mort
cages. or no one would trouble himself
with house owning.
'In behalf of other real estate owners,
and also our merchants, against whom the
cry Of prohteering is going upln the pres
ent cyclone of unreaS ona ableness, soon to
pass over when fundamentals are under
stood, the average man would not take
unjust profits The merchants with whom
| deal are all honest men. Real prohteer-
ing is robbery and should be stopped At
the bottom Of the present disturbance is
this fact: All things are the production Of
labor. If labor goes up three-fold, costs
must go up still more, for three times as
much capital is required, end he must
make three times as much to live on, for
the purchasing price of dollar is reduced
to third. As 10 real estate. rents are the
last to 20 up and the first to come down
Before extensive building is undertaken,
as things are now, rents must be multiplied
three fold over those Of 1914. Tha ten