Architect and engineer . ly which canafford a moderate cash payment, and a low but definite investment each yearover a period of years until amortization or indebtedness has been cleared off. Another method of developing an operation of this type is, of course, gettingtogether a group of future tenants who will do the necessary financing, thuseliminating the middleman who first provides the equity. This requires alarger amount of capital per family for immediate investment, unless it ispossible to borrow second mortgage money, paying relatively high fees whichmay be distributed over the first
Architect and engineer . ly which canafford a moderate cash payment, and a low but definite investment each yearover a period of years until amortization or indebtedness has been cleared off. Another method of developing an operation of this type is, of course, gettingtogether a group of future tenants who will do the necessary financing, thuseliminating the middleman who first provides the equity. This requires alarger amount of capital per family for immediate investment, unless it ispossible to borrow second mortgage money, paying relatively high fees whichmay be distributed over the first few years as owners rental. In general, however, the successful co-operative developments carried outthus far have included a promoting entity of some sort, which for the sake ofprofit has either carried out the operation and then sold stock, or has beenthe actuating force to bring together a group of prospective tenants, receivinga promoters fee which has been made chargeable to building costs.—TheArchitectural Fireolace in a Southern California Home. J^O THE ARCHITECT AND ENGINEER A Sermonette By F. W. FITZPATRICK NEAR my home they started months ago building a rather pretentioushouse, a stucco on wood afifair. I noticed that work lagged, then ceasedaltogether several weeks ago. Not being overly curious I paid no furtherattention to it, supposing money had run out or that there was some other goodreason for the stoppage. Then one day, coming into town, I noticed renewed activity and that therewas a lot of a certain much-advertised metal lath being delivered. Then I wascurious and asked the contractor what the delay had been. Why, of course,the metal lath had just arrived. The architect would have no other, and theywanted to do the plastering and stucco work at the same time, hence the abso-lute stoppage of building for six weeks of the best building weather. This suggested to me a text for a sermonette to my brethren, the architects. We hear much lament about the ar
Size: 1382px × 1807px
Photo credit: © The Reading Room / Alamy / Afripics
License: Licensed
Model Released: No
Keywords: ., bookcentury1900, bookdecade1900, booksub, booksubjectarchitecture
