Show the bank as a I 1 IN N place of a 3 per cent loss on an investment ot of a large new york savings bank is now getting 6 per cent profit on an investment of because it had the good business ness judgment to spend in modernizing ern izing it a group ot of 40 year old tenement houses on oil the lower east side which it was forced to take over on mortgage foreclosure says an article la in the american bankers association journal A year or two ago the owner who had bad always kept up his mortgage 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 oil burning heating beating plant incinerators and other modern changes with the result the buildings are now entirely rented and there Is a year coming in instead of several thousand going out at that rate the improvements will pay for or themselves in three th ree years this same bank baik has done 15 other renovation jobs similar to this and all have proved profitable the bank has its own architects and Is employing seven painters who are kept busy continuously |