1938-04-13 — Page 9

THE CHINA MAIL, APRIL 13, 1938.

Nothing For Tenants In Rents Report

(Continued from Page 1) perty owners must be regarded as legitimate investors and had it not been for the overbuilt position, the present acute shortage of accom- modation would have been much accentuated.”

cessively low levels. We think that notices to quit have been given in last in a position to get rid of a bad many cases because the landlord is at

tenant.

Own

Unsatisfactory tenants may be dis- missed without further notice, but the problem presented by the tenant who (a) is living in a class of premises The Commission cites figures which normally commands a rent he showing heavy slumps in rent re cannot afford to pay, or (b) is given turas, contends, with the Govern-notice to remove because the landlord ment Assessor

that requires the premises for his of Rates "tenants

use, is one of real difficulty. have for the past few years been holding a pistol to landlords' heads" and reaches the conclusion generally, on the statis- tics, that rentals have not gone back to pre-depression figures.

CASES QUOTED

THE ANSWER

PALESTINE COMMISSION

London, To-day.

The Palestine Partition Com- mission will leave London on April 21, and will probably stay in Palestine several mouths.

The members will make an ex- tensive tour of the country, de- riding on the proposed boundar- les and examining economic and fiscal questions-Reuter,

MANCHUKUO AND ITALY

Rome, To-day.

AIR RAIDS PRECAUTIONS FOR PARIS

Paris, To-day,

&

The general council of the Seine Department

yesterday adopted, by 180 votes to 5, number of proposals by the Paris police prefect for air protection of Paris and environs.

The sum of 284,000,000 francs will be spent for buying gas masks for the civilian population.

The sum of 450,000,000

francs

expropriated for construction special roads for speedy evacuation of the population.

As regards class (a), the answer shortage of accommodation, that now would simply be, if there were ΤΟ the landlord is in a position to demand and obtain an economic rent, the ten-representative in Italy, Hsu Chao-large bombproof shelters.

The first Manchukuo diplomatic will be provided for construction of ant must revert to the type of premises from which he came, but unhappily at ching, will arrive in Naples on Numerous cases

the present time that type of premises Easter Monday on the "Terukini Another 15,000,000 francs will be are analysed has itself been taken up, and "though | Maru.” showing that, in 29 cases, rent has the general restoration of pre-depres- been raised above the 1933-34 level,sion rents may gradually force succes-

Mr. Hsu is accompanied by two

of in 22 cases has been restored to sive classes of tenants one rung down Legation secretaries and several that level, in 52 cases has been class will be forced of the ladder alto-nel of the

the social ladder, yet the humblest officials who will form the person- raised above the 1937 level but has gether, and must either leave the Co-Ocean.

new Legation---Trans- not yet reached the 1935-34 level, ny or sleep in the streets. The pro- and in 27 cases has been raised blem resolves itself into a balance of above the 1937 level with no hardships. Is the landlord, who

has figures for pre-depression rental opportunity to recoup himself because suffered great losses, to forego his his tenant is unable to pay an econo- j mic rent and cannot find alternative accommodation; or is the tenant, who has not unnaturally seized the oppor- roundings, and who in most cases has tunity to move into pleasanter

now made strenuous but unsuccessful

available.

SUI-

PRINCE BERNHARD IN ITALY

Other figures quoted covering a period 1929-37 show gross annual rentals for a particular firm at a maximum of $1,000 for 1930 and a`minimum of $18,600 in 1935.

Rome, To-day. The Commission adds: We are endeavours to secure cheaper premises, lands, who is making a tour of Prince Bernhard of the Nether satisfied by the figures submitted to be forced either to meet charges to us, by the admissions of tenants, or to be rendered homeless? The ques- Aschwin zu Lippe-Biestefld, arriv

which in his circumstances are ruinous, Italy accompanied by his brother, and from ou own enquiries in the tion can only be answered by havinged at Naples from Palermo yester- cases, where both landlord and regard to the effect of any legislative tenant appeared before us, that intervention on the general prosperity day.

there is no evidence that landlords as a whole are at present raising or notifying an intention to raise rents beyond, or even so high as, the level ruling before the depres- sion. Two distinterested witnesses of importance thought there were a few hard cases, but that hard cases made bad law.

RETURN ON CAPITAL

of the whole community.

TWO SOLUTIONS

What then are the possible solu tions? They seem to us to be two in of rents, and (b) the inception of ra- number - (a) the statutory restriction pid house construction work. The se cond solution, whether achieved by governmental action or by private en- terprise, has the obvious disadvantage: that some time must inevitably elapse before it becomes effective.

Total appropriation for air de fence will be 770,000,000 francs, to which the Seine Department will contribute: 428,000,000 and the State 342,000,000.

The money will raised by loans.- Trans-Ocean.

STRIKE IN AIRCRAFT WORKS

of several days TERMINATED

After a stay Prince Bernhard will continue his journey to Rome and Florence.- Trans-Ocean.

TAIKOO DOCK TRAGEDY

Two men were killed and onet

Paris, To-day.

The strike in the Paris aircraft industry came to an end last evening, and the factories were evacuated by the strikers.

Work will recommence to-day when a new conference between workers and employers will be held in an effort to reach a final settle- ment

The Government will be repre-

As disinterested witnesses of impor Discussing landlords' return on ca-tance have unanimously testifed, "the pital, the Commission quotes a repre- great dificulty inherent in a statu- sentative of a European bank. He told tory restriction of rents is to devise an seriously injured when an hydrau-sented at the conference Trans- as that his experience during the last equitable basis upon which

2 stanic rivet on which they were work- Ocean. six years had convinced him that the dard rent may be assessed. position of house owners had been level obtaining immediately before the ing, collapsed at the-Taikoo growing worse all the time "their present rise of rents commenced, be Docks yesterday. revenue has gone." The bank had ad-taken, then as we have shown the ef vanced money to many such owners fect will be artificially to continue the

If the

-

Valiations of property were arrived at depression as regards house property, The P. and O. ss.

"Banpura”

by ascertaining the revenue derived Owners and to deprive them of left Shanghai on the 12th instant from rents and calculating the capital ing income legislation which will and is due here on the 15th. instant sun on which such revenue would re-further undermine the already depre- at about 6.a.me present a return of 8%. This standard tiated value of investments constitut. of calculation was not rigidly adhered fing, “a very large portion if not the

Paris, To-day.

A delegate meeting of the strikers in the aircraft indus- try last night approved the terms of settlement of the dis- pute-Reuter.

to: but represents the broad basis of bulk of the wealth of the Colony," can money lying either in the Colin At valuation. The usual advance was only work against the best interests vestors have no confidence. in land. limited to 60% of the xaluation, and of the community as a whole. The Although there is a general rise in interest was charged at 5%. The wit- ruin of private enterprises with hold rents and a sharp decline of vacant told us that in a great many ngs on so vast a scale must lead to accommodation, the market for the sale cases during the depressed years land-repercussions the extent of which it is of land and house property remains lords had not been able to obtain suf- difficult to exaggerate. ficient to pay the 5% interest -on 605% of the valuation.

ness

It has been suggested that in assess- ing a fair return on capital outlay, re-

PREDEPRESSION LEVEL If the level of rents obtaining

-

4 Months He Weighed

Only 4 Pounds!

Now A Fine Sturdy Boy".

A

depressed Investors are not convin-. The reason for this remarkable ced that this demand for premises is change can be stammed up in three more than temporary and they fear if words "Baby's Own Tablets”. Resd they put their money into house pro-this Canadian mother's experience. gard should be had to the conditions fore the depression be taken as a same question of vacancies. Another only four pounds states Mrs. F be-perty, they will, on the cessation of the "When my baby was four months present hostilities be faced with the old he was terribly ill and weighed obtaining at the time when the expen-standard then in our view no benefit factor depressing the market is the Morin, Lakefield, Ontario, "We tried diture was incurred. That is to say will be derived by the tenants, for we high cost of water. It is also pointed several kinds of food but he that if property is acquired at the consider that the increases now pro out that the rising cost of buildingsromited and was very constipated. Our stil peak of a boom period when property posed seldom restore the rents to the mast hamper values are unusually high, it would believel of their obtaining. If rents be commission reaches the conclusion that Tablets and I did so. The vomiting development and the doctor advised me to try Baby's Own unreasonable in a landlord to expect a limited to a certain reasonable net per while everything possible should be soon ceased, baby's bowels became quite steady retmum of 7% on his abnormal centage return on capital outlay again done to remove the difficulties indicate regular and he slept peacefully. He is expenditure. But the problem is es the tenants will not benefit as against ed and to restore conftience in house, now a fine sturdy boy". sentially one of supply and demand the majority of landlords, for we are property, it is doubtful whether any Baby's Own Tablets have mild, and the investor in house property who satisfied that landlords as a class will immediate private development can be laxative action and are usually spee comes in on the crest of a wave, will not derive an undue revenue from their hoped for. Referring to Government effective in all the minor ailments from inevitably suffer when the wave re-investments cedes. It seems a strong thing to say would invite fraudulent valuation of Commission observes that if private tion, digestion, colic, diarrhoea, and such a measure building of various type of houses the which children suffer, such as cons that when demand revives, the investor property. It may be objected that enterprise will not supply accommodaple fever, colds and crong, vor shall be debarred from endeavouring rent restriction is still in force on the only alternative is for Gav- and worms. During the trying to reimburse himself merely because England and was at one time in force ernment his original investment was unduly op- in this Colony, to which we reply that construction, "but we would add that pain, relieve the hot swollen to undertake the necessary teething the tablets quickly timistic.

circumstances which such restrictions any action calculating to discourage thus promote healthful sleep. will oppose bear no comparison to private enterprise should be avoided Baby's Own Tablets are the those we are now considering.

in the interest of the Colony as ation of a British medical child-

List and are absolutely free from PIOUS HOPE

harmful ingredient. They are pl It is earnestly to be hoped, says the in taste and therefore easy to Commission, in one of its concluding They are equally good in the preser paragraphs, that concerns employing doses for infants, in arms as for chil- large clerical staffs will recognize that dren up to twelve years of age. Chem- On the question of the inception of many of the employees are now com-ists everywhere sell the ideal healt's years. Landlords have been called rapid house construction work it is pelled to pay increased rent in the 25-corrective for the young: apon to pay enormous charges for er-contended that although it is obviousisence of cheaper premises, and will cess water. Tenants by threatening that present rate of building is wholly adjust salaries or grant allowances to to quit, have forced down rents to ex inadequate and there is plenty of meet present conditions.

EVICTIONS ISSUE

On the summary evictions issue, the We can only reach the conclusion, that Commission finds that landlords have the statutory restriction of rents is. perforce accepted unsatisfactory ten-impracticable measure in present com ants during recent years. Tenants ditions. have been in arrears with their rent for mouths. Houses and flats have. been constantly vacant, sometimes for

NEW CONSTRUCTION

whole."

Baby's Own Tablets