The Sunday herald and weekly national intelligencer., 1891-05-10
1T is AN ACTUAL NEED.
How II Would Benefit Owners, Deal
ers, and Purchasers.
TALKS WITH THE BROKERS
Who will Take Hold of the Project
and Organize the Exchange?

The article which appeared in last Sundays
HERALD relative to the need of a real estate
exchange attracted general attention among
the real estate dealers of the city. The sub
iect was discussed with interest among the
brokers, and the prevailing feeling seemed to
be that the idea was an excellent one, and
that the time had unquestionably arrived
when movement to establish an exchange
should be begun. In order to show clearly
the sentiments entertained by the dealers,
THE HERALD has interviewed number of
the leading firms Nearly every man spoken
to was in favor of the project, and only few
were at all doubtful of the feasibility of es-
tablishing an exchange. All seemed to recog-
nize that such an institution would greatly
benefit the whole body of dealers and be a
protection to owners of property and to pur-
chasers and intending purchasers as well.
From the practically unanimous indorse-
ment which the idea has received, it is ap-
parent that the time is ripe for an organization
of real estate men to make the project reality.
1t will take energetic work to get the move
ment properly started, but If few good men
get together and make the first move, there
can be little doubt they will have plenty of
hearty cooperation from their associates in
business. The amount Of money that will be
required will not be large, and there is little
doubt that the exchange will prove first-rate
investment.
The question now is, Who will take the
first step for the organization Of the exchange?
The views OF the dealers who were inter-
viewed by THE HERALD reporters are given
below, and are well worth reading by all who
are interested 10 the project:
APPROVED BY MIR. w. H. BARNES.
William II. Barnes of Barnes 81 Weaver,
was hearty advocate of the proposition.
"There can be no doubt in the world" he
said, s'of the advantages to be secured by the
establishment of such an association. The
Underwriters of the District can we'll attest
the benefits they have derived from their asso-
citation. 1t has brought about feeling of har-
mony among its members and improved their
business in every way. The best companies
have their representatives here and they have
the preference in most transactions. If real
estate exchange could be formed on the same
general lines the agents would soon recognize
the advantages. 1t should be organized on a
broad basis of membership, and no one who
has good standing in the community and is
legitimately engaged in the real estate busi-
ness should be debarred from admission. Be-
cause one mans business may not be as large
or his pocketbook as fat as anothers it is no
reason why he should be kept out. In order
that the scheme should be entirely effective it
is necessary that it be placed in the proper
hands at the outstart. Men we'll known for
their business ability and honesty should be
the leaders in the movement. When once Or
ganized on firm footing it cannot be other
wise than benefit to the real estate business.
The members will have more confidence In
one another, feeling of security will spring
up, and 'cutting' will be reduced to mini
mum. We would do all in our power to aid
in its organization"
FEARS THE PROJECT CANNOT BE REALIZED.
Mr.. j. B. Winner is hearty advocate of the
scheme: "The policy is an excellent one and
no one is more anxious than am to have an
exchange established. l fear, however, that
the project will be almost impossible to real
ize There are over three hundred dealers in
real estate in this city, and 1 doubt very much
whether more than one-quarter would join an
exchange This was the main reason for the
failure of the former attempt to form one in
this city While most of the best known and
prominent real estate men acquiesced at once
a number refused absolutely to be bound by
any rates or regulations. There are so many
scurbstoue' brokers in the city that they in
jure not only the agents but harm the true
value of property by their misrepresentation
An exchange would reduce the business OF
these men to a minimum by the concerted
action of brokers in refusing to deal witt
them. In order that an attempt to form al
exchange should be successful it will have tC
be promulgated by a number Of the most repu
table local real estate agents. They will have
to devote considerable time to it and to Ger