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data, namely, a reduction of 20% in the number of people who can be accommodated and of 14% in the amount of rent paid by
each of them.
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If the full number were taken, namely, 48 persons, and the rental per head were retained at its present figure, namely $35 per annum, the result would be:-
48 persons x $35
$1,680 per house or an in- -crease of $696 per house per annum.
*
The gain on two houses would thus be:-
$696 x 2..........
.$1,392
Deduct loss on one house
pulled down « • • • • *
984
Net gain...
$408 per annum.
Capitalizing this at 7%:
$408 x 14
.$5,828
Deduct estimated cost of alterations...
1,050
Gain.... .$4,778
or, say, $2,390 for each of the two remaining houses.
Under this arrangement it would be possible
to house the people without charging them extra rent and without
any loss to the owner of the property. The tenants would have
less space at their disposal, but it would be much better
lighted and ventilated than their present cubicles.
The figures showing a profit resulting
from the scheme are too favourable, but it is probable that
there would be little loss attendant on carrying out the scheme
in many parts of the City.
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ora..........
** * SEAT
020. ...enolsavažie to znoo badanitae bħa
Oss.re
neo.t
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, Va8,To
old wovstuu Jariveron no bsand at svoda ent
atsh
26th. May, 1908.
(Sd.) W. Chahtam,
D. P. W.