Show the bank as aa a Rebuild fir I 1 IN 1 place ot of a 3 per cent lou on an in V vestment estment of a large new york savings bank Is now getting 8 6 per cint profit on an investment of because it had the good bust busl neis ne is judgment Julg ment to spend in noi moe ernt ern zing izing a group ot of 40 cearold tenement houses on the lower east side sid a which jt it was forced to take over on mortgage foreclosure lore tore closure says an article la in the Ameil can bankers association journal A or two ago the owner who had always kept up his mortgage payments begab bagai to neglect the prop erty it became tun lun down donn and the ten ants began to leave leae the bank the buildings completely putting in an oil burning heating beating plant incline acors and other modern changes with the result the buildings are now entirely rented and there la Is a year in in stead ot of several thousand going out at that rate the improvements will III pa pay for or themselves in three years this same bank has done 15 other renovation jobs similar to this and all have proved profitable the bank has its own architects and la Is employing seven painters who are kept busy continuously |