One of the first, and, up to the present time, one of the most interesting experiments made in New York for the better housing of the poor, was made in the early eighties by a score or less of philanthropic capitalists. These gentlemen organized a stock company to hold and manage tenement-house property, limiting their dividends to three per cent. on the capital; the surplus dividends, if any, over this amount, to be used in improving the property, and securing such conditions and opportunities for the tenants as would stimulate pride and independence. The formation of this company followed one of the periodic agitations of the tenement-house problems customary in New York.