The Sunday herald and weekly national intelligencer., 1891-05-17

tionately the profits of each broker. We have
Board of Trade, "a Stock Exchange, a Builders
Exchange, and Business Mems Club but
none of these meet the requirements of the
real estate agent. What we need is an ex-
change composed exclusively of real estate
brokers and devoted wholly to the interest of
real estate, where all matters pretaining to
Washington realty can be discussed and where
joint effort can be put forth for the advance
ment of Washington property.
''Such exchanges are now in successful OPP
Grafton In New York and many other large
cities. great portion of the growth and i'm
provement of Washington is due to her real
estate agents; they have built handsome
houses erected magnificent business blocks,
established street railways, opened and i'm
proved miles of streets in the suburbs-in
truth, help make Washington the queen of
American cities. Such record achieved
without organization is but an evidence Of
what can be accomplished with a perfected
real estate bureau, where coaction would be
universal.
"a real estate exchange can be made finan-
cial success within itself OF the three hun
dred and twenty agents doing business here,
say that only two hundred and fifty would be-
come members of the association An initia-
tion fee of $50 each would give the exchange
$12, 500 cash, and annual dues of $25 each
would bring yearly revenue of sc, $50, or all
these figures could be increased or dimished
according to the needs of the exchange. Such
an amount would maintain the association
handsomely and satisfactorily. A prominent
office building could be erected and made a
paying investment. The exchange could issue
stock to the extent of $3.50, 900, payable 10 per
cent. monthly, or otherwise, for the purchase
of ground and the erection of suitable build
ing, and an average subscription of ST. 900 by
each of the $50 members would quickly ex-
haust the issue. With this sum magnificent
building could be constructed, the exchange
| handsomely housed, and good dividends ac-
| cruing from the rents of the building declared
| to the stockholders"
! ssTRoNGLY INDoRsED BY MR. F. c. sTEvRNs.
! "a real estate exchange in this city," said
| Mr.. Frederick G.. Stevens, of Gurley &
| Stevens, ''would be very good thing, very
| good, indeed 1t would facilitate business to
wonderful degree and would benefit prop
| erty owners as we'll as real estate agents. 1t
would save the dividing of commissions and
! in many ways would be most advantageous.
| In order that it be entirely successful, it's
scope must be general and the movement en-
tered into heartily by every one. The benefits
of an exchange has been demonstrated in
other Cities and why should it not be sue
cessful here am strongly IN favor of its
establishment" Mr.. Gurley, of the same
firm, indorsed the views expressed by Mr..
| Stevens
MIR. WILLIAM f. TEEL'S VIEWS.
Mr.. William f. Teel, of Teel & Hodges is a
strong advocate of the proposed exchange.
81 take as precedent the association of Fire
Underwriters. Before they consolidated each
one was cutting the others throat in their
efforts to secure insurances by writing at re-
duced rates. Now the rates are fixed at a
| good standard, the agents of the various firms
have become acquainted with one another,
| thus aiding materially in their business rela-
| tions, and any one who attempts to write poll
ces for lower rates than those set by the as
| sociation Injuries his business more than it is
| benefited. The same would be true of real
estate exchange. Commissions could be fixed,
| and business facilitated in every way. There
| can be no doubt of its benefits"
TALK WITH CAPT. TYLER.
Capt. Tyler, of Tyler & Rutherford, ex-
pressed himself as being very much in favor
Of the scheme. SIT would seem to me,'' he
said, ''that it would be advantageous to both
the buyers and sellers of property to have es-
tablishedrooms where property could be sold
at regular stated times, and where people
could attend without Inconvenience. 1t
would be great benefit to have sales under
cover. | do not know the details of the pro-
| posed plan Of organization, but as l hear
them it would seem to me that the scheme, If
properly managed, should be success.
STRONGLY INDoRsEs THE IDEA.
Mr.. George Gibbs, Of Jonas, Gibbs q Co.,
believed the plan to be an excellent one. SITS
principal advantage" he asserted, "would be
cooperation and providing way for real es-
tate men to get together In this way agents,
by an interchange of views, can keep them
selves informed of the state of the market In
every section of the city. The members
| would become acquainted with one another,
and thereby their business relations would be
benefited. II would prevent the dividing of
commissions. l strongly indorse the Idea.
THINKS 1T A DIFFICULT UNDERTAKING.
Mr.. John @. Davidson, OF Davidson q
Davidson, believed the promoters OF the plan
would find the task difficult one, but per
sonally he was In hearty accord with the
movement. He believed 1t would increase
the price of property and facilitate business
in more ways than one.
THR BENEFITS WOULD BE NUMEROUS.
Mr.. Ralph johnson was heartily in favor of
the scheme if established on the right basis.
lie believed the benefits would be numerous,
and called attention to the success of the Fire
| Underwriters Association.