Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1929-05-23
JONES FAVORS
REAL ESTATE
Houston Man Says o Build
ing Il a Safe Investment;
Constructs Another

HOUSTON. May 23.-Jesse H.
Jones, who Is widely known as a
builder throughout the South, again
brought his name into prominence
In the East recently when the New
York Times published n lengthy
interview with him regarding the
real estate development OF America
and the value of real estate secur-
tiles. AT the time OF the interview,
Mr.. Jones was In New York City
supervising the completion Of his
eighth large building to be erected
in the metropolis located at 10 East
10th Street, which will be one Of the
tallest In New York.
"A good building Is q safe invest
ment because IL may be turned over
to a management concern and a
profitable return secured without
much effort or risk" said Mr.. Jones.
"A good real estate project pro-
crosses with only small effort to
keep 1t going. I have been in real
estate for twenty-five years and
have found that select real estate
increases constantly In value. There
may be recessions but the trend Is
hardly ever backward. Well select
ed business property in all growing
American cities is constantly in
creasing In value.
Real estate" continued Mr.. Jones
who operates. among many extern
sive interests, the Bankers Mort
gage company, q two and one-half
million dollar bond house with head
quarters at Houston, lis a thorough
ly sound and simple business, yet
bankers. for the most part. have
not understood 1t as well as they
might. The more conservative
bankers have not regarded real
estate investments as sufficiently
liquid. although good real estate Sc
curities will command money when
many other kinds 60 begging. The
reaSon Is that the investor can see
his security, and in no event car
there be very much shrinkage In his
income or principal"
The constructive banker will
learn to favor real estate securities
more and more because OF the in
fluence building has upon economic
conditions. Bankers and investors
can contribute to the general well
fare, or to what we are pleased to
call prosperity. by favoring and en-
couraging building investments. In
dustry, banking. transportation and
almost every other division Of BUSH
ness Is now owned by the public
why not real estates Good housing
Is desirable. and the better we build
and the more often we rebuild. the
greater the contribution to all bust
ness.
Probably s5 per cent OF the cost
OF a building Is for labor In the final
analysis. when the cost of every ma
terial-that Of mining. milling. pro-
ducing. transportation. manufac-
ture. distribution and the final in
stallation, Is taken into account. III
buildings operations fall off labor
becomes idle and business conditions
grow unfavorable. 1t Is for these
reasons that sound real estate bonds
should be favored by bankers and
investors"
Mr.. Jones. who began his bust
ness career as manager OF a lumber
yard IN Dallas. Is today one Of the
largest owners and developers Of
business real estate IN the United
States. The latest of his skyscrapers
in Houston Is the thirty-five story
Gulf Building which he believes Is
the most perfectly planned and de-
signed business building IN the
country.