The sun., 1919-06-15
SAYS LANDLORD HAS
His TROUBLES TOO
Continaed from First Page.


everything than the East Side. vh,A
has old buildings In old neighborhooS.a
As evidence that these ere M, -
happiest Of days for real estate own.-.
despite the rentals which are being 81
lected. the doctor told OF six h,...
which the bank took In trust upon vhIcs
he said, the institution has lost ,2S ma
in four years 1t cost that much rnors
according TO DR.. Becker. for The ham
TO carry the houses pay tho inte, est 80
tn, mortgage, the taxes and interest A.
the equity.
Sold Houses NJ q Loss.
we have sold two Of those bo,,..
for tss,B00 each and another for tat an
Dr.. Becker said. Our right to sell .bs,,
under our trust agreement was for fro.
$4,000 to $4,000 each. Two OF tho.
Eans houses were appraised at s5O.Oos
each when they were built ten ye,..
ago. and the third was appraisal a.
s5l.500. A 90 per cent. mortgage Va.
given a savings bank and 1t /, srill il
Torce."
Further testimony TO the effect tn,
real estate operators. as we'll as ton.
ants. are finding the situation a aim.
cult one. comes from J. Harris Jons,
who has been In the game for over
twenty-three years Mr.. Jones told ina
Lockwood legislative investigating com.
mittee that he had lost everything he
had In It He blames his disaster upor
what he termed the competitive sys-
tenn of renting.
men have to meet market oond,-
TONS" explained Mr.. Jones, "and mar.
ket conditions in the real estate bust
ness since 1908 have been such that A
large majority OF owners lost money
on all their property every year"
Mr.. Jones dropped $3.50. 900, he said
because he could not get a sufficient
return on what he had invested in
building operations.
II believe myself" he went on "tha,
the market will have to regulate itself
and that any false stimulus you give 10
Il will only react upon the men whose
business II Ia to create dwellings for the
people. Eventually II there is some help
in laws which will encourage people TO
invest the law Of supply and demand
will right conditions. You must induce
investors to come IN. for IL the builder
cannot sell his product he will not build
II there are more apartments than ter.
ants rents will come down; as soon az
there are more tenants apartments will
60 up. would pass the Dodge law
which would permit three and four story
houses which are now private residences
| to be used with certain restrictions under
the tenement house law
Alterations Would Pay.
1t Is a mistake, Mr. Jones thought. to
believe that the Dodge bill would be IL
effective because the expense OF making
alterations would be greater than The
income which can be obtained from the
properties would warrant.
- AAaN
would be affected are in the central part
of Manhattan" Mr. Jones argued. 'Peo-
pie would move into them from more
expensive apartments which they now
| occupy and the income would be sun
cient to meet the increased value OF the
properties"
In connection with the light and
health conditions involved in alterations
under the Dodge bill. Mr. Jones said that
the Burlingame law, passed at the last
session of the Legislature. applied TO
houses forty-seven feet deep. and that
there were but very few OF that depth
to which the law would be applicable In
Manhattan.
IT think the law ought to be made to
apply to houses sixty or sixty-h feet
Deep" Mr.. Jones said. Most Of these
are in the central part OF Manhattan
Island and they would be occupied BY
people of means who could afford to pay
the rents. and that would make room for
other people in the outlying sections Of
Manhattan and Tho Bronx"
But you know that house sixty OF
sixty-fve feet deep involves having dark
rooms in the centre OF the building" M.
Jones was reminded.
The law would provide that they be
lighted from the front and rear, and We
know from the experience OF those who
have lived in them that they are not
AS further aid to existing conditions
Mr.. Jones would modify the tenement
house law 30 that three family houses
could be erected in the outlying sections
Of all the boroughs without being called
tenements.
Tenants Resent Annoyance.
| IF building comes under tenement
| house qualifications" said he. the peo-
pie who live in II resent the annoyances
and the constant inspections"
| Mr.. Jones said his idea was to build
houses In pairs. attached to one another
upon one side, so that they would have
plenty of air and light.
| The present tenement house Law puts
premium on the congestion OF the popula-
ticn." he went on. because the same law
| applies in the densely populated sections
that applies In The Bronx, In Queens in
Richmond or any outlying section.
II think the superintendents OF huild-
inSs should go together and select a few
builders who have studied the matter.
and with the aid OF this committee they
could devise a good law which would
help very much. The Superintendent OF
Buildings in The Bronx said the other
| day that a large number OF lots had been
turned back to the city because their
| owners could not pay the taxes, which
would have to be borne by other people
We believe you are going to have that
condition constantly recurring and that
large numbers OF lots will come back 10
the city because of the failure TO pAT
taxes II you modify the law ana rr-H'
II an inducement for builders - q"
crate In outlying sections. with the Ed
| cellent transit facilities we have, you
would create a demand for houses
Mr.. Jones said that the price o, lsrd
! in The Bronx was so high at present
that many two and three family houses