The Leaven in a Great City
9781465514929
pages
Library of Alexandria
Overview
AT THE BOTTOM. One of the first, and, up to the present time, one of the most interesting experiments made in New York for the better housing of the poor, was made in the early eighties by a score or less of philanthropic capitalists. These gentlemen organized a stock company to hold and manage tenement-house property, limiting their dividends to three per cent. on the capital; the surplus dividends, if any, over this amount, to be used in improving the property, and securing such conditions and opportunities for the tenants as would stimulate pride and independence. The formation of this company followed one of the periodic agitations of the tenement-house problems customary in New York. In 1878 a conference was called by the State Charities' Aid Association to consider the condition of the tenement houses in this city. Mr. Alfred T. White, of Brooklyn, had at this time proved that model tenements, conducted on strictly business principles, paid as investments, and stated at this conference that his model houses made a return of seven one-half per cent. As a result of this conference a committee was appointed who reported that they did not find it desirable to recommend the building of model tenements in New York at this time. Mr. White for many years stood alone as the man of wealth with the courage of his convictions, that there were wage-earners compelled to live under tenement-house conditions who would pay for and respect the best housing that capital would offer them, within their rent-paying capacity. The tenement-house agitation continued. In 1879 Mayor Cooper had appointed a committee known as the Mayor’s Committee, to devise means to effect tenement-house reforms. This committee reported, and among Other suggestions recommended, that companies be organized to build modern tenements. Some members of this committee, with Others, formed the stock company alluded to with a capital of $300,000. With a wisdom peculiarly their own, they did not wait until model buildings could be erected according to plans not yet drawn on sites not yet selected, but they leased on a long lease property that had been unproductive for a long time, and occupied by a people at the lowest level of the home-making people of the city. Below them are the people who do not even pretend to make a home. This property was located in the old Fourth Ward. It was the reputation of this ward, and the record of the particular property, which doubtless led these capitalists to secure it. It was conceded that the poverty and degradation of the Fourth Ward was at least as great as in any Other section of the city. The property leased had attracted public attention and been the subject of special investigation and reports in every agitation of the tenement-house problem since 1856
