New-York tribune., 1920-03-16
Capital Joins
City in Fight
On High Rent
Continued from paus ono

out the gravity of the situation, ex-
planned the possibilities of relief if
immediate obstacles could be over
come and called on all the interests
present to join patriotically in seek
ing harmony. He said:
"It is conceded that here are two
chief causes for the existing lack of
housing accommodations: First, the
slackening of building, which, origi-
nal!y brought about by the war, has
continued on account of the increased
cost Of labor and material; second, the
abnormal demand for housing accom-
modations, due principally to the stop
page for the past few years Of the nor
NAL erection of approximately 10000
new houses, the tremendous growth of
the population, and the presence of a
multitude Of people who, having been
remain at any cost.
"This latter class, together with those
whose incom-s have been greatly in
creased, are able to outbid tho vast
majority Of the population with sta
tionary incomes for housing accommo-
dAtions.
"This situation has permitted the
growth OF the rent profteer and the
boosting of rents to unheard-of figures.
nv" ent,I e"e PIoiteefs "Ie iHull-
ferent to public opinion and will con-
tinue to gouge the public until there
Is law passed with teeth in it,"
Urges Stabilized Prices
Declaring that the object of the
conference was to get building started
and that he had been informed that
from $b0,000000 to $10O,000,00O was
available if conditions could be changed
40 ant ~
Mayor called on the building material
men to stabilize prices and the con-
tractors to initiate an intensive pro-
gram.
"And now for word to the labor men
engaged in the building trades" he
went on. cit is upon them that the
whole structure of our program rests
They can help to end the increasing of
rents.
Assuming that wages are stabilized,
or can be stabilized for the next wear
and a haf, there is still another fea-
ture Of the labor question to be con-
ssl,dered. and that is the character of
the work dcne, as we'll as the quantity.
Ihere can be no question that when
labor puts it's shoulder to the wheel,
and gives an honest days work for an
honest days pay, the quantity and
quality of the work will be up to par"
The first class of interests heard
from was the investors. Comptroller
Stabler of the Metropolitan Life spoke
first. He said that there had peen less
in building but that his company was
prepared to increase it's commitments
along that line, and put up from
S15,0o0,0oo to S25, 100000 annually the
amount it would spend if labor and
material prices could be stabilized.
Although his company is taxed un-
der a different system, and is there
tore not concerned with the state and
Federal income taxes which bear on
mortgages, he declared that it was hope
less to expect any large investment in
the class of securities so long as these
taxes remain and that the first step
was to WORK for their repeal.
Abolish Mortgage Taxes
"These taxes have driven from the
real estate market hundreds of mil
lions of dollars" he declared. "All
the large holders are replacing their
money with non-taxablc securities as
rapidly as possible These taxes will
have to be removed to get that money
back, and until you get it back you can
not proceed far. We arc now four
years behind in the construction pro-
gram. The amount that can be put
in by insurance and title companies
an ano a. the banks pa is only drop in the
bucket. We should remove the mort
gage taxes, not on $4,000 MORTGAGES
only. but on all Of them"
John L. Parrish, secretary of the
Board OF Title Underwriters, and Rob-
ert f.. Bowling, president Of the City
/ investing Company, and others who
followed indorsed these views. Mr..
bowling added an attack on tho bills
now pending at Albany and supported
by the unions, for the appointment
OF a state commission on rents.
Those rent legislation bills are 60
ing to stop all building" he declared.
put any money into real property if
they know that new laws are going
to make it more difficult for them to
handle that property profitably.
ihe Legislature knows that the law
Will not do any good and will do harm
but 1T may be willing to pass it as q
sop to agitation"
Attack on Bricklayers
William K. Hammond, president Of
the National Brick Manufacturer As
soclatlon, spoke for the material deal
ers, and opened the discussion Of the
labor question by an attack on the
brcklayers, whose strike since Janu-
ary l practically has stopped the use
OF bricks. He declared that labor con-
dltlons in the brick industry and on
the route from the brickyards to New
York, made it almost impossible to
forecast prices. The Mayor asked
whether he could give a guarantee re-
garding 150,00O,000 brick now on hand
in the stocks of different manufac-
tUrers.
When we attempted to stabilize
brick prices we were threatened with
states prison." Mr.. Hammond respond
ed IL am not familiar enough with the
law to know how to give an assurance
that will be within the law"
Other material dealers agreed that
until labor was stabilized it would be
impossible to give guarantees for fu-
ture delivery, except the Peerless
Granite Tub Company representative,
who pledged stable prices for year
G. B. j. Snyder, superintendent of
buildings for the Board Of Education,
declared that it was impossible to
make much progress with the school
building program because Of both ma
terial and labor troubles.
From then on the labor question was
to the front. E. A. McDougal. presi-
dent of the Queensborough Corpora
ton, told Of the trouble caused by
strikes and uncertainty.
G. Richard Davis, contractor fold
how the labor leaders had been unable
to hold tho men to their iobs on the
nf fhA C..l-