New-York tribune., 1922-04-11
Miller Doubts
Housing, &, Loan
Bill H. Valid

Continual from page onc)
City in several years, and that there
was no likelihood of any being built
unless this bill became law.
Senator Lockwood Interrupted Mr.
| untermycr's speech in advocacy Of the
bill to say Tint five days after the
Governor signed the measure the
Metropolitan Life Insurance Company
would start digging ground for the
first group Of cheap apartment houses
/ These will be built in Queens County
within fifteen minutes Of Broadway and
Forty-secord Street.
The first group Of apartments will be
built this is assuming the Governor
signs the billion Il six block plot
Each block will contain twelve apart
mont houses OF The most modern type
each house containing thirty+siX apart
ments, or 432 TO each block, total OF
! 2,592 apartments, housing approxi-
matoly 1890.
Plans for Bronx Apartments
Senator Lockwood and Mr.. Untcr-
myer said that the next building opcr-
Ations which would be undertaken
would be in the Bronx, where similar
number of apartments would be con-
etructcd.
The opposition to the bill was hea I'd
first, as is customary. Then Mr. Untcr-
mycr spoke. Referring to his op-
po"entS, ho said:
All the people who appear in opposi-
tion to this bill seem to be people who
OWN veal estate or represent owners of
property some Of whom have been get
ting very cXtortionatc rents, and, Of
course, they probably have been among
tho proftcers in rents. 1t is quite nat
ural that they should not want anv
new competition in housing or con
struction of housing.
"Mr. Stewart Browne says that he is
here fer the policy rolder as president
Of the Real Estate Owners Association.
| haven't heard Of any policy holder he
represents.
Half the population of the United
States owns industrial policies and
would come under the provisions Of
this bill. One company alone has 26,-
100000 Of such policy holders, and the
amazing part of it is that not a single
protest has been sent to the company
from any policy holder, while it has
been dcluged with letters approving
their course in supporting this bill and
expressing a willingness to act under
it,"
To Rent Below Maximum Price
MIR. Untcrmyer declared that the
apartments would rent actually we'll
below the maximum price set in the
bill, and that the rent to each Tenant
would be under IS monthly room
He said that each cf the workmen on
the houses had agreed to donate seven
hours each week free of charge in ad
dition to the forty-eight hours for
which they were being paid This was
because they would be given first op-
ton to rent the apartments.
DO you know OF any other in
surance company that will follow the
lead of the Metropolitan ?" the Gov
crnor asked.
"There is one other large company.
also doing large industrial business
in New York City, which is consider
ing it and practically certain to fol-
low the Metropolitan said Mr.. In
termyer.
You don't expect enough building
to be done by the insurance companies
if this bill is passed to take care Of
the whole S0,000?" asked the Governor.
mo, but we expect if houses are be-
ing taken care Of that the effect on the
higher rentals will be such as to get
back to sort of normalcy,'
replied Mr.. Untermycr
81 should think it would have a dis