Evening star., 1924-05-02
FIND RENTAL RATES
SHOW NO INITIATION
Reports From Varions Sections of
Country on Moderate and
High-Priced Dwellings.
SLIGHT DECREASES NOTED
Scores of Apartments in Cities Not
Occupied.
by J. @. ROYLE.

special Dispsteh 10 The star
NEW YORK. May 2.-Sufficient re-
ports have come from various Sec
ttons or the country since the semi
annual moving day Thursday to in
dicate definitely that the rentals for
the moderate and higher. priced
dwellings have not gone up. On the
contrary. In some sections they have
shown slight decreases.
Ihis fact has not slowed down
Dulidlng construction throughout the
Ianu 10 any appreciable degree. How
er' ~ mas focused that construction
on certain types of dwellings, Pros
pecttve investors are THINKING twice
xoout putting up dwellings with Ia
Dor ana material at present nricns
wnen the placing Of rentals above a
.e,,. ,aln ieVei encounters immediate
easy, but even the reduction In the
rre-uiscount rate by the New York
reuerai Reserve Bank is NOT exnect-
ing. ci"SSes Oh ouilo-
Many Apartments Ten,ntlsss.
chIs hIIcores or apartments in New York.
SnIcaEo and other large citIes re
want NOT because people do not
want the quarters, but because .hsy
EIl not pay the rents demanded for
nose quarters. Then, too. the surFe
ol Innapitants to the cities, so an
parent during and after the war is
sraauaily correcting itself
me advance In the value of land
sna seal property in the larger cities
i neen so great that city property
s fs becoming too valuable to use for
triai n,an xna iadustrial uses. Indus
INTO the suburbs and the locations ad.
!aceht TO the cities and are taxing
tne majority of the workers engaged
with them.
Property Valued Higher.
Inc extent of the appreciation of
thS pIoPetty may be estimated from
INC tact that the value of real prop-
erty and improvements in the I|nI,sS
states Increased $s7.I7T,9i8.o 600 be-
tween lSI2 and 1922 to total of s17s,
sI4.4tf,ooo and that the rate OF in
higher. oee" even
The metal trades formerly en-
pIoyed the largest number OF work
ers OF any industry in New York
cry, There are 100000 people en-
cinity today, and IT is estimated that
10000 are dependent on the indus.
sry. Yet great numbers of the plants
Iormerly located on Manhattan have
ans ISsed 20 New Jersey. Long Island
and Connecticut There are now only
nxe iron foundries in Manhattan
Tnere formerly there were sixty-fve
s1rge heaVy metal plants in lower
s;nanhattan have decreased in Nun
,w.t, rom thirty-f1ve to twelve in
smPloyed south of 59th street is only
ehe number employed In 1900
Plants Select Cheaper Sites.
ants nave moved to larger tracts
oi Sneaper land which still are acceso
10 ran lines. shipping facilities
sno jumping spaces. This rnoyemen9
nS Deen materially aided by the use
ooth light and heavy prodnets fns
short hauls. iof
similar conditions exist m -,
9Insr G,, SIDE OF the continent. Land in
that mn%ing ~ mas grown so, in value
contemplating the abandonment ~
studio sites which cover large acro
ages there and preparing for a mi
ssauon to localities where land Is
"Doubie cro~sI.x- cAarx<s.
IN some sections of the country
complain bitterly OF, what tbev csiI
double cross" from the realty deal.
ers. About A year and a hair 80
landlords in many sections began
boosting rents. This, they saw, VAS
Done on the advice of real estate
dealers. who. In many Instances. I'D
vised owners to allow their apart
ments to remain empty rather than
cut below the high rental level. THE
landlords assert now that while thew
were thus broadcasting advice. the
realty men dashed for the outlying
districts and erected thousands Of
hve and six room houses, which they
sotN on small payments down and
monthly tnstaliments on about the
same level as the apartment house
rents.
In the vicinity of San Francisco
alone about $4,000 such houses have
been built. and there are 5000 or
Similar conditions exist in other