New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-10-02

of eleven now we number over 200 and are in
creasing steadily. We have made no speclal enore
to convert any one TO our belief those who Iare
come into our ranks have come voluntarily. heIo
arc two letters which have recently come 70 no
from two old ladies whose ages are seventy lou III
and eghty-0ne respectively, asking lQr otnn o np
plicatons for membership and stock IN inc coin
pany. The movement, may say, IS spreading iaP-
idly throughout the country"
WORKING FOR REAL ESTATE REFORM
THE MOVEMENT BEGUN UNDER THE LEAD OF HE
NEW EXCHANGE.
Real estate brokers are discussing with much IN
terest the question of reform i'll the methods OF con-
ductinQ the business. The matter has been Drougne
IN their attention by the action taken by pfolnl-
nent members of the Real Estate Exchange ior
agtating measures leading first, to the TRANSACTION
of all private sales at the exchange ana, secoh9, W
combining the control of property ofered TOT se W
one broker Two weeks ago the Exchange
threw open It's first floor III its handsome new Dui
ing in Liberty-st. to daily meetings OF oroker, III
accordan nee with plan presented by speclai CON-
mittee II is believed by the advocates OF this
plan that private trausactons IN real estate can po
accomplished with better aayan,dge tho bo present
custom of trading in the offices OF brokers; AT any
rate they saw that the business can be bcnented
by daily conference of brokers AZ the EAcnanRee
for the increase of acquaintanceshp. exchange OF
views comparison of notes aDdother pr0ceedlngs,oIa
kind eli ar TO the meetingsof The siocks
and grain at the Stock and Produce Exchanges. AS
was expected, the attendance at these meetings aI
the outset was notlarge. and the business don9 mas
not been important, but the lnnovoaton mas peGn
made with fully as much success as usually attenSs
a change in old customs eft doing business. Inc
exneriment-if it may be so styled-has been as
successful its advocates expeciea TOT tnc tbe
ance is growing and the publication OF tne
properties offered on the occasion or inc hIst
meeting resulted in liveer inquiries or the brokers
offering the properties tnah nncy nsu nrcy;ons The
brokers hold their meetings from 1880 TO ll'oo
a. M. the auction sales beginning at noon. -,
Another step in the direction OF reforming the
Lods IF estate business has DeeE taken ny
some of the largest dealers in this kind OF properly
This is personal agreement not 10 ono,
nroperty at the Exchange which Is KNOWN
10 he in the hands of other brokers. Numerous
Recognized evils attend the present system OF d3ng
business Many owners Sd or PropSF o2en p or more
brokers 10 SELL The brokers, working lndepen-
IDENTIFY are naturally inclined to underbid each
other and besides causing confusion OF comiiis-
S;ons often their competition frequently results IN
emitting do wn the price Mt which any one VIII TAKE
the property An additional evil results fr9in a
the several brokers who are undertaking
tho sale of the property on commission am theh
going directly to the owner and making tne pun
chase thereby preventing any broker from oDtalh,
ing commission. Owners are as much interested
in stoppinp his practice as brokers are; LOT WneH
they give out piece OF real e5h.e W of tbev are
liable for commissions from one or more OF the
others who may effect the SAFE stitu,,
taneously In addition, they have the competition
of fine different brokers among themselves reducing
the price at which the property can DC soid; inc
following pledge has been circulated ana mas re-
ceived the signature of many of the leading dealers
In real estate:
We the undersigned real estate brokers believing that
tho Interests of both ourselves and our customers ue
mand reform In the present methods OF conducting our
business, as step that direction hereby pledge our
selves that we will offer any property ht the TX
change that we have TO believe Is III the hands OF
any other broker.
II will be seen by this that the workers in the re-
form rlovement are proceeding with the utmost
conservatism They recognize tho fact that now
ever desirable the conclusion TO which the prose
cntion of the reforms may logically Lead progress
Must be made slowly. Little dissent mas YET been
made TO the tentative STEPS taken by the directors
of the Real Estate Exchange.