The Freeman 1972 - The Ludwig von Mises Institute

366 THE FREEMAN JuneThe building needs a new roof,new walls, new ceilings, newplumbing, new wiring, new doorsand a new heating system. It needsabout $15,000 worth of repairs.The building now has a grossincome of $2,600 a year, of whichI am paying for taxes and heatabout $3,000.Why didn't I apply for a hardshiprent increase? My accountanttold me there would be a blizzardof paperwork, and that if he wasable to get me any increase, myfee to him would have taken awaywhatever I gained in the first twoyears.So far I have been fined fourtimes for failure to comply withorders to correct building codeviolations! I was summoned tocourt again only a few weeks ago,and I explained my predicament tothe judge. He assured me of his"sympathy," fined me $40 andpromised that my next fine wouldbe much higher.I did not go home from thecourt. I went straight to the officesof the local Roman CatholicChurch and asked them to acceptthe building as a free gift. Theydidn't. An hour later I made thesame offer to the Protestants.Again the answer was no. Next Ioffered the building free, withoutany money, to the four tenants.They didn't want it.Okay, I will abandon the building,was my next thought. I willstop collecting rents, will not paytaxes or heat. I .will let the citytake over. This sounds like an easyway out, but my lawyer tells meit cannot be done without my beinglegally financially responsible.So, here I am with a buildingassessed by the city at $21,000 - Irepeat $21,000 - that I cannot giveaway, I cannot sell, and I cannotabandon. I am forced by law tooperate it.That is, I was. I am not anylonger.I have sold the building for$30,000.As an extra inducement I threwinto the bargain my good old factory.building, which cost me closeto $70,000, for nothing. In otherwords, I sold real estate that costme $80,000 about 15 years ago for$30,000, to be paid without interestin six years.With the $50,000 that I lost onthe deal - and which is a majorpart of my life savings - I boughtfreedom.At 69 I am too old to start arevolution, or to fight City Hall.On the other hand I do not liketo be summoned to appear in criminalcourt, when my only crime isthat I dared to own a building inNew York.I will badly miss my shop, whereI spent 49 happy years. But .I am no longer a slumlord! I)