"All of your father's money was invested in what we call 'improved
realty.'"
He talked for something over an hour, occasionally stopping to answer a
question of Vandover's, or interrupting himself to ask him if he
understood. At the end it amounted to this:
The bulk of the estate was residence property in distant quarters of the
city. Some twenty-six houses, very cheaply built, each, on an average,
renting for twenty-eight dollars. When all of these were rented, the
gross monthly income was seven hundred and twenty-eight dollars. At this
time, however, six were vacant, bringing down the gross receipts per
month to five hundred and sixty dollars. The expenses, which included
water, commissions for collecting, repairs, taxes, interest on
insurance, etc., when expressed in the terms of a monthly average,
amounted to one hundred and eighty-six dollars.
"Well, now, let's see," said Vandover, figuring on his cuff, "one
hundred and eighty-six from five hundred and sixty leaves me a net
monthly income of three hundred and eighty-four--no, seventy-four.
Pages:
209
210
211
212
213
214
215
216
217
218
219
220
221
222
223
224
225
226
227
228
229
230
231
232
233