New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-05-22
Build Your.
Own Homes.
Mayor Urges
Cooperative Construction
the keynote of Detailed
Advice TO Committees
ON Housing Problems
Invest, Is His Motto
Suggests That Employers
Back Corporations TO
Lend Money to Workers

Mayor Hylan issued detailed memo
randums yesterday on the subjects
which he proposes the sub-committees
Of his Housing Conference Committee
shall consider in dealing with the
housing situation.
For the subcommittee on investment
capital, the Mayor made the follow
ing suggestions:
Io provide Investment capital for
housing construction: this is to be
consldered from two angles:
FIRST Mortgage capital In this
Classification to obtain pledges from
all the savings banks, life Insurance
companies and other moneyed institu-
lions, as well as from individuals, that
they will give preference in lending
money for construction of houses for
living purposes.
10 pledge the lending of money on
first mortgages on a basis of at least
90 per cent Of the finished market or
selling value of the house when com
pleted.
To encourage the investment Of
capital for second mortgage purposes
as well, and, if necessary, to make
plans to arrange for the formation of
companies to handle second mortgages
and to find a market Tor the same.
Encourage Building Investment
"Second-To formulate plans to en-
courage investment of capital in
building construction. This might be
done by the formation of building cor
poratlons or the utilization of existing
corporations of that character. or
house-oWning companies to own and
manage for people who are willing to
purchase on the cooperative plan, or
ny building loan associations under
the laws Of the State Of New York
ut might be we'll to encourage in
every possible way, through your com
mlttee, greater number of people to
own their houses, particularly on the
cooperative plan, so that large house
Of fifteen or twenty, or more, families
may be owned by as many tenants as
occupy it. This may be accomplished
by calling attention 70 the fact that
there is a greater need for more people
to own property; that the number is
entirely too small a present; and that
ownership of property makes better
citizens and creates civic interest and
pride"
For the Labor Committee, the Mayor
"To give preference to the building
of houses as against other kinds Of
construction.
TO prevent delays and Interruptions
by the elimination Of strikes.
ITO agree upon the present wage
scale, or if possible even a lower one
for the construction OF houses, such
wage scale TO stand for any given job
until it is completed, and to continue
for period up to January !, 1922 at
least.
Speed and Work Urged
"To urge every mechanic and laborer
to speed UP ard to give fair days
measure Of work.
FINALLY to pledge labor to all these
recommendations"
The Mayor also urges the labor com
mittee to encourage more people to
own their own houses.
For the Builders Committee Mr.. Hy-
Ian suggested:
ITO get together for the purpose OF
arranging for immediate activity in the
erection of new houses to look over
the field for available building sites
and to get busy in the fling OF plans
and obtaining permits
ITO submit plans and specifications
promptly for Iteration by mort
gage lenders. If any dissatisfaction
arises with REGARD TO the amount Of the
loan to be obtained, communication
to that effect should be sent to the
executive committee so that they may