The Improved Dwellings Association put up its block of thirteen houses in East Seventy-second Street nine years ago. Their cost, estimated at about $240,000 with the land, was increased to $285,000 by troubles with the contractor engaged to build them. Thus the Association's task did not begin under the happiest auspices. Unexpected expenses came to deplete its treasury. The neighborhood was new and not crowded at the start. No expense was spared, and the benefit of all the best and most recent experience in tenement building was given to the tenants. The families were provided with from two to four rooms, all "outer" rooms, of course, at rents ranging from $14 per month for the four on the ground floor, to $6.25 for two rooms on the top floor. Coal lifts, ash-chutes, common laundries in the basement, and free baths, are features of these buildings that were then new enough to be looked upon with suspicion by the doubting Thomases who predicted disaster. There are rooms in the block for 218 families, and when I looked in recently all but nine of the apartments were let. One of the nine was rented while I was in the building. The superintendent told me that he had little trouble with disorderly tenants, though the buildings shelter all sorts of people. Mr. W. Bayard Cutting, the President of the Association, writes to me: "By the terms of subscription to the stock before incorporation, dividends were limited to five per cent. on the stock of the Improved Dwellings Association. These dividends have been paid (two per cent. each six months) ever since the expiration of the first six months of the buildings operation. All surplus has been expended upon the buildings. New and expensive roofs have been put on for the comfort of such tenants as might choose to use them. The buildings have been completely painted inside and out in a manner not contemplated at the outset. An expensive set of fire-escapes has been put on at the command of the Fire Department, and a considerable number of other improvements made. _I regard the experiment as eminently successful and satisfactory_, particularly when it is considered that the buildings were the first erected in this city upon anything like a large scale, where it was proposed to meet the architectural difficulties that present themselves in the tenement-house problem. I have no doubt that the experiment could be tried to-day with the improved knowledge which has come with time, and a much larger return be shown upon the investment. The results referred to have been attained in spite of the provision which prevents the selling of liquor upon the Association's premises. You are aware, of course, how much larger rent can be obtained for a liquor saloon than for an ordinary store. An investment at five per cent. net upon real estate security worth more than the principal sum, ought to be considered desirable."