The times. [volume] (Richmond, Va.) 1890-1903, 1891-03-19
STATE REAL ESTATE EXCHANGE.

One of the most important bodies in the
Commonwealth is the Virginia Real Estate
Exchange, which was organized at Roanoke
in last January. and which has shown SINCE
its formation so much activity in carrying
out the objects for which it was created tha'
the highest expectations as TO its usefulness
can Ire Justly entertained.
In conformity with the announcement which
had been previously made, the directory OF
the Exchange. in which Richmond has we'll
known representative, convened in this city
on yesterday, and transacted business that
will further ensure the success of the organl-
zation. These periodical meetings must ac-
complish very great good, not only by giving
a more intelligent understanding of the pur-
poses for which the Exchange was established,
but by imparting the strongest cooperative
force to the action of It's members IN their
efforts TO direct public attention to the adj
vantages Of the different towns in which they
reside. and thus indirectly TO the general OPP
portunities for investment which the Com
monwealth at large has TO offer.
The real estate agents of Virginia have it In
their power TO do as much for the develop
ment OF the State as any other body Of men
in its borders. The towns Of Virginia are
now attracting the largest degree of attention
on the part of Northern investors, and Will
for many years 10 come continue TO do So
This interest should be stimulated by every
means that can be used. Our real estate
agents should not be content to rely upon To-
cal capital to promote rapid advance in real
estate. but should direct their energies chiefly
to securing capital from the Northern and
Western States for investment in the proper
ties Of our towns.
TO secure capital from these quarters should
be the principal object Of the Virginia Rea
Estate Exchange One Of the best indlca-
tons of the healthy character of the great
movement in town and city real estate last
year was the fact that it had its principal OIL
Gin in the strong disposition of Northern ana
Western men 10 make investments in this
State. A boom that is purely local-that Is a
boom which has its prompting in local specu-
lation without any encouragement from an
inflow Of outside capitals to be deprecated
a. certain to end in a collapse that can only
that is started in consequence Of the marked
tendency of outside capitalists to make in
vestments in our properties is, as rule,
sound and substantial in its causes and, If not
pushed 10 an unreasonable extreme can only
lead 10 good.
There are already many evidences that as
soon as the spring fully opens Northern capt.
tai. which has been lying idle during the de
preston that has prevailed for some months,
will begin to flow in this direction in stream
that will be even greater than that which was
observed in 1890. BY the judicious action Of
the Virginia Real Estate Exchange the volume
of this stream can be very much increased.
and also directed in a way that will ensure the
highest satisfaction to the investors and
thereby work to the permanent advantage of
this State
There should be a systematic effort made at
once to advertise the countless opportunities
which Virginia offers for safe and remunera-
| tive investment of Northern capital Every
| graduation in the increase Of our property Will
| be marked by the amount Of this capital
which shall from time to time be placed in
different parts Of the State. In order TO slim
ulate its movement in this direction there is
need of concerted action, and this is easily
assured by energy and determination on the
part of such business organizations as the Viz
| ginia Real Estate Exchange