New-York tribune., 1920-03-16
Money Enough 10 Meet
All Building Needs AS
sured if Labor Situation
and Prices Stabilize
Mayor Makes Plea
For Cooperation
Committeeman Be Named
as Result of Conference
Mortgage Tax Assailed

Money enough to meet every legiti-
mate building need and end the hous-
ing shortage and rent profiteering will
be available almost instantly if labor
conditions and prices of materials can
be stabilized and if the heavy taxation
which now makes mortgages a poor
form of investment can be removed
This assurance was given by bankers
and other representatives of invest
ment interests at the Mayors confer
ence on the housing situation held
yesterday in the Board of Estimate
room at City Hall. A specific pledge
of from S15,0Oo.0oo to .s25, 100000 was
made in behalf Of the metropolitan
Life Insurance Company by Walter
Stabler, it's comptroller
The immediate result of the confer
ence will be the appointment by Mayor
Hylan of a committee of seven men
to attempt to smooth out the differ
ences between capital and the labor
unions, and between rival labor or
ganiza tions, which have been a serious
factor in delaying she resumption of
building.
No Rancor Displayed
The committee will include, under
the resolution adopted by the confer
ence, representatives of the following
interests: Investors, dealers in build
ing materials, contractors, labor, ten
ants and owners Of property. An
nouncement of the personnel Of the
committee is expected within day or
two.
Representatives OF all the classes to
be put on the committee were present
at the conference, which packed the
room and overflowed into the halls
In spite of the vigorously conflicting
interests whose spokesmen appeared
scnalities and rancor out OF the dis
cussion, though there were occasional
flashes Of animosity between investing
and employing interests and labor and
inside tke labor ranks.
The greater part Of the discussion
centered around the labor situation. In
spite of pledges Of cooperation from
leaders of the va1ious unions, it was
brought out that there are serious diff
quire much negotiation to settle.
The union leaders Joined in denounc-
ing the policy. Of the Iron League
Erectors' Association, which refused to
accept the terms Of the annual con-
tract with the Building Trades
Council and carried on work with non
union men, as responsible for the
worst features Of the labor situation.
1t was declared that until the buildings
SO erected were torn down there could
be no peace signed.
Second in the debate was the pro-
posal for eXempting from taxation,
both state and Federal, all mortgages
on buildings. Unless this was done,
investors declared, it was hopeless to
expect money to go into buildings.
They said that those now holding such
mortgages were converting them into
other forms of investment as rapidly
as possible. Assurance was given by
A. j. Halpin, in behalf of Senator
Lockwood, that the bill granting cx-
emption on mortgages up to $4,000
would be passed by the New York
Legislature within month.
Municipal Housing Plan
Suggestions made were that the city
undertake a municipal housing pro-
gram on a scale calling for at least
$20,000,000 appropriation at once, and
vacant lands belonging to the city be
leased to home builders at nominal
prices. These suggestions will be con-
sidered by the new committee after