New Britain herald., 1930-12-15
HELPING IHI BARD HIT BUT NOT IN STOt

Much IS heard heFea bouts about the straits il which sundry investors in multiple tenement houses find themselves. The "ncw assessment system fundamentally Is an attempt to relieve them Of some Of their hard luck ln tAe form Of taxes, in- cllanratly transferring more ot the tax burden 70 the owners Of non- multiple buildings.
 The trouble is easily aaalyzed, and is about like this: During the realty boom mauy-H nor myriads-of ea,orprislng folk pa. ap multiple buildings with tae idea that the ] renters Of apartments lenements or flats would pay sufficient rent over a long period ot years 10 enable the . enterprpssag folk 10 carry inc works throughout that rIme, pay of the ! numerous mortgages with the rent money. and at the tormlnauou Of . inc period find themselves owners ot tue property in fec and free Of all ! encumbrancas
 All ot which vas 10 have been ac- compushed through rent money
 The nominal owners Of such builI- iaes doubtless thought the renters were fools for not going into the . racket also. particularly as any real estate agent could have bcon de- pended upon to present ali the yolumtnous facts if called upon, h. deod. 90 the 5okestors say anybody with $509 in capital could sot all the facts he needed and much ad- . diuonaI encouragement
 l These s)ortiad tastalment >cD- lures could succeed only if rents kept IT. the tenemcnts were alWa%s fully occupied, and nothing but ultra prosperity were maintained until the foe. O. mortgages were al pad of,
 Tho only risk anybody look 1as .aa- o>erhaudIag might develop. ultra prosperity might taIl that rsnts might drop aud that hundreds Of vacant t.ats might 4oe the city.
 In other words. the system Vas one Of speculation Much money vas learned" during inc boom ey quick salas o5 raa.ty; and tt vas d merry and profitable time all around. But every day brought near cr the time when there might be d turn for the worse. and finally some thousands Of innocent and honest in- tesrosa found themselves holding saess.
 The Mayor and many other citI- zons are and have been much con- ccracI o,er taesr fate. The situation IS particularly d.sr.sstas "hen it IS laaHzcd that al -Ao-e holding the sacks are citizens and voters.
 But taere arc other cjtlzens and . No'ers nho have been hard hit by d . certain turn ln events, and neither . the Mayor or anybody else has made the slightest effort 10 come 10 their assistance.
 We refer of course 10 lhe ,ery numerous total nho allowed them- selves to ba nipped in the stock crash Of last year.
 Their activities had many points in common with real estate spccuIa- ton. They took sums ot money sometimes small sums-and with them as q nucleus bought large blocks of lively stocks on margin.
 The margin racket IS another glorlfied jastalment system. Pracu- Goncrs plank down q little money and pay off the remainder from their profits as stocks go up, It is very simple. provided the stocks go up. Just as simple as in real es- tate-When its value goes up.
 Everybody knows the rumors ap- pertaining to the ultimate results Of the crash. Reports have had fl that citizens of this community lost all the way up to :300,0oO q head in the collapse.
 There are two points of diabollcal -humor connected with this terror Of trenzIod finance:
 (aj Almost every body expected q -nash-up sometime or other, but every last one Of them expected 10 get out Of the market before it oc- cured.
 (b) No mayor has as yet started a relief campaign to help out ,he un fortunates who lost piles Of dough when the stocks made their forced ! landing.
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