The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1890-12-02

President IIockaday called the large
concoursc of real estate men composing
the exchange to order last night at u
few minutas after o'clock. There
were about forty members present.
Il. Il. Kemp, during the sitting of the
body, spoke on the avisibility of the OK
change securing better rooms for it's
meetings, and said that tho rooms and
furniture of the Commercial Club could
be secured. Tho latter institution was
some S9o in debt for its furniture and
other necessary articles, and was in dan
ger of becoming defunct unless it re-
ceived some assistance.
committee was appointed, consist
ing of Mcssrs. Spindle, boswell and
Page, with the president, to negotiate
for the rooms and furniture of the Com
mcrcal Club, if this can be done on
satisfactory terms.
Tho Exchange appointed Messrs. Lud-
wig and Spindle as delegates to the
Southern immigration Convention,
which meets in Ashcyille, n. c., Deem
Der 18th, and instructed them to adver-
t.so Roanoke for all they are worth.
The clause providing that tho board
OF nine directors, elected the president
and vice-rresident OF the exchange from
their number was rejected, and provis
ion made that the entire exchange elect
president, vice president and board Of
nine directors at their annual meeting,
six members OF the board to constitute
Il quorum.
1 he most important article was that
on commissions, some of the selections
of which are US follows: ION sales of
a., 600 and under. five per cent. sales OF
over $1,000, three per cent. on the OK
cess above $4,000.
Where sales are made to net tho seller
over IL specified amonnt, sufficient must
DC added to come within the rules Of
the exchange. On sales of farm or
mineral lands not less than 5 per cent.
Commission shall be considered earned
when the price and terms are arranged
between buyer and seller, the minds
of both parties having met whether
The arrangement shall have been re-
due d to writing or he only verbal.
No member Of this exchange shall be
allowed to present, rebate or divide his
commission with buyer or seller, or in
any way directly or indirectly evade the
as otherwise provided.
No member af the exchange, under
the penalty Of fine, or suspension or ex-
pulsiUn, as the gravity of the case may
deserve, shall, in consideration OF any
business, grant any compensation to,
or divide his commission with any per-
son. not Il member or regular err ploycc
of this exchange. but this rule shall not
prevent members of the exchange, re-
Clustered in its books as agents, from
making such arrangements between
themselves for division of commissions
as they may choose to agree upon, nor
shall it apply to nonresident agents
having no Office in the city Of Roanoke.
No member of this exchange shall
list property for sale that is at the time
in the hands OF any agent or any one
not member of this exchange TO his
knowledge.
Two hundred copies Of tho bylaws
were ordered printed and each firm sup
piled with a copy.
A letter from Danvillc was read from
ii. Il. Harn,an, of the Southern Tobacco
Journal and Sou thern Building journal,
stating that he would publish at Rca-
noke the Virginia Real Estate Journal
If sufficient inducements were held out.
The secretary was ordered to further
correspond with Mr.. Harman.
~. X. Williamson brought letter to
the secretary proposing the establish
ment Of the Virginia Real Estate Advo-
cate in Roanoke. This journal was to
be printed on the style of the Manufac-
turcr's Record. 1t would not consider
the letter concerning the Real Estate
Advocate, as the names of its hackers
were not made known.
The proper committee recommended
the advertisement of Roanoke by col
umn write up of the city in the New
York Sun for $50. The recommended
ton was cmphatically rejected.
The committee previously appointed
to act with the Commercial Club in re-
gard to asccrtaining the intentions of
the Baltimore and Ohio railroad towards
Roanoke, were instructed hereafter to
act independently.
The firm of Turnbull, Nioir & Co.,
applied for membcrship,and according to
the constitution laid over for ten days.
a NEW OPERA HOUSE.
Prominent Business Men Interested in the