New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-09-24

merical strength. rs we'll as with the
most intense enthusiasm to fight the
landlord, was that from the Bronx
Fair Play Rent Association.
The delegation marched into the as
sembly carrying placards urging action
to furnish tenants relief.
Oppose Exemption of Incomes
At the outset of the hearing Assem-
blyman George A. Fearon, Republican.
OF Syracuse. who presided, announced
that the committee was interested
mainly in hearing the opinions of those
who were opposed to the housing relief
bills. There were many bills, he ex-
planned, and the time of the committee
was limited. There were times, how
ever, when Mr.. Fearon had all he could
do in keeping order. Three or four
persons would insist upon having the
floor; others would interrupt with
questions or suggestions.
Mayor w. J. Wallin of Yonkers, for
mer State Tax Commissioner; walter
II. Knapp, Professor Seligman, OF Co.
lumbia University, and Stewart Brown,
of the United Real Estate Board. op-
posed the bill which would exempt in
comes from mortgages from the state
income tax law.
Mayor Wallin pointed out that it
would be useless to exempt mortgage
incomes from income taxes unless SINH
lar provisions were made by the Fed
eral government.
Sees Error in Passage Of Bill
Commissioner Knapp asserted the
Legislature would commit grave error
were it to pass the bill. He declared it
would merely prove a system where
you borrowed from Peter to pay Paul"
He pointed out that about 40 per cent of
the $l3,00o,0o0,O00 worth of real prop
erty In the state was covered by mort
cages, and that it would mean serious
revenue loss were the income from these
mortgages to be exempted
professor Seligman declared that the
enactment of the law would make the
tax burden too heavy for the average
man. 1t would he said, be equal to
| placing the tax burden on earned in
| comes to the advantage of unearned IN
comes which would be exempted. He
expressed himself in opposition to the
suggestion that Congress should ex-
empt mortgage incomes from Federal
income taxes, declaring that such ac-
ton eventually would tend to break
down the entire fiscal system
Wants Powers Extended
There was no organized opposition
to the bill which would exempt real
property used exclusively for dwelling
purposes from local taxa..on, out
great deal Of difference OF opinion as
to details Of the measure.
Stanley M. Isaacs, representing the
Apartment House Owners Association,
declared that one of the defects in the
bill was that it provides for buildings
used exclusively for dwellings. lie
would have it amended SO that stores
could be provided for on the first floors.
Raymond V. 1ngersoll, representing
the New York City Club, declared that
the period allowed for construction was
too brief. The bill provides that ali
dwellings, to come under this act must
have been completed since April /, 1920,
or that construction must be COM
menced before October /, 1921. Mr.. In
gersoll declared that there would not
be enough building material or build
ing trades men available within this
period to get sufficient number of
buildings started during the next two
years.
Tenement House Commissioner Mann
recommended legislation which would
curtal! non essential building con-
structing. He said the chief housing
needs were for apartments which rent
from $35 to $65 a month.
Senator Charles C. lockwood, Repub.
!ican, of Brooklyn, chairman of the
joint, housing committee, inquired
whether Commissioner Mann would
have one and two family houses classed
as non-essential. He replied he would
explaining that in his opinion such
houses come under the heading of high
class apartments and that the need is
for multi-family houses.
Union Opposes Restrictions
Peter. Brady, representing organized
labor, declared union workers opposed
to the suggestions placing restrictions
on building operations. He also ia
vored provision for definite deposit
in summary proceedings.
Wilbur Brady, representing the Con-
sumers' League of Brooklyn, would have
landlords who elected tenants on the
grounds they intended to use the prop
erty for their own family or else
planned to demolish it, take oath to
this effect and be liable for CHARGES
OF perjury if the plans were not carried
out. '''' ><'i Aeu
Nathan Strauss jr. spoke against the
so-called cooperative plan in which
many houses are now being sold TO
tenants in New York.
Inc tenant is being beguiled into
putting his money into an apartment"
ne said, "in the belief that he is estab |
llshlng an ownership.
"Iltle to the apartment as comprised
IN the building on the lot on which it
stands remains vested in the landlord
me tenant has no right to control or
regulate mortgages that may be put
upon the property. The landlord NAV
see fit to burden the property with |
mortgages that by sudden turn in the |
financial situation may wipe out the
tenants entire equity. The tenant has
no protection.
"Legislation is needed which will
oring these facts forcefully to the at
tention of the public, and further leeis-
lation is needed to protect tenants who
have entered into such schemes of buy
ing apartments"
German National Debt
242. 700. OOO. OO0 Marks