Show the bank as a a I 1 IN N place or of a 3 per cent loss losa on an in ID vestment of 0 a large new york savings bank Is now getting I 1 pr per cent profit ou on an investment of 0 ISO because it had the good bual ness nees judgment to spend in modernizing ern izing a group of 0 40 cearold tenement houses on the lower east side which it was forced to take over on mortgage ort gage foreclosure says au an article la in the american bankers association journal A year or two ago the owner who bad aldays kept up his bin mortgage mort gag payments began to neglect the property it became run down and the tenants began to leave the bank remodeled the buildings completely putting in an oll oil burning heating beating plant incinerators and other modern changes with the result the buildings are now entirely rented and there la Is a year coming in instead of several thousand going out at that rate the improvements will pay for r themselves in three thre years this same fame bank has done IS 16 other renovation jobs similar to this and all have bare proved profitable the bank has bai its iti own architects and to ii employing seven painters who axe aj kept busy cou coa sinuously |