New-York tribune., 1919-04-30
Realty Strongly
Behind Enactment
OF Boylan Bill
Mayor Is Expected to Sign
Measure Limiting Tax on
Property; Representative
CrowdAppears at CityfIall

Real estate interests Of this city
demonstrated Yesterday at the public
hearing held by Mayor Hy!an on the
Boylan bill, both by their numbers
and the applause that marked 'ne
speeches, chat the measure is laVo'eu'
and that the Mayor should sign 1t anu
return it to Albany for the Governor
signature. The opposition to the en-
actment Of the bill, which provides
that, beginning in 1922, real estate
cannot be taxed more than 225 per
cent, was negligible. There has been
no reai estate measure, or, for that
matter. any other proposed law on
which the Mayor has held public hear
ing, for which greater enthusiasm was
displayed. Mayor Hylan remarked that
the demand for the law was almost
unanimous, there being but few dis
senting voices heard in the big room,
which was crowded with real estate
men, many of them the most pronil-
nent in the city Laurence Mcclure,
president of the United States Realty
and Improvement Company, read the
names of sixty taxpayers and civlc
organizations that were In favor OF the
/,
signature approving the measure. Mr..
Mcclure asked for the names of or
CARNATIONS other than those which he
had mentioned, which favored the bill,
and from all around the room came
voices announcing the names of local
property interests which wanted the
bill passed.
Would Help Housing
Robert E. Bowling, president of the
City Investing Company, told the
Mayor that the Boylan bill would slim
ulate building in this city and the
housing situation would be speedily
improved under 1t. 1t will induce CAPT
tai to invest in the New York realty
market. Although rents have gone up
there is less income from property, Mr..
Bowling said. If the tax on real prop
erty is permitted to go higher there
will be no building at all. and tenants
will be at the mercy of landlords. Mr..
bowling called attention to the fact
that the measure does not go into ef
feet until 1929, and therefore is no vio~
lent shock to the financial situation.
1t will bring no benefit to real estate
next year or the year after, Mr.. Dowl-
ing told the Mayor, but the fact that
there will be q limiva,1on on the rate
of levy on real property will produce
a wonderfully active real estate mar
ket He said that lending institutions
would be encouraged to support real
estate and building and that it was
his belief that if the Boylan bill was
signed there would be plenty of houses
erected in this city; that there would
be plenty of money, and the general
coalition would be splendid.
Few Oppose Measure
he Mayor asked how many favored
Mr. Dowling's views on the Boylan bill,
!. seemed that every one except Ben
jamin w. Burger, attorney; William
Machines, chief auditor of the con-
troller's office, and one other were with
Mr.. Dowling. MIR. Burger indicated
that he was an advocate of the single
tax. Mr.. MacInnes opposed the bill on
the ground of it's constitutiouality He
said that the court had placed the
debt limit at per cent, and that the
Roylan bill was an attempt to amend
the states constitution.
The opinion prevails that Mayor Hy-
Ian will approve the bill and return
it to Albany for the Governors sig
nature.