Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-01-12
TO eViVE BUSlN ES S
A Plan to Secure Uniform Reduction in
the Cost Of Building.
Action of the Bufldcrs' Exchange An
Calling a Conference On
This Subject.

An important action was taken at a large
ly ATTENDED meeting of the Builders Ex-
change, at their hall last evening. which IL
intended to stimulate business by drawing
out capital into Investments The resolu-
ton looking to this end was prepared by
Mr.. Thomas ]. King, the secretary Of the
Exchange ana is as follows:
Whereas. owing to the unexpected fnan-
cial scare with which the moneyed inter-
est of this country has been seized great
depression exists in the building trades Of
this city, many dealers in and manufactur-
ers of building material have suspended,
while Others are conducting their business
with a largely reduced force. thereby caus-
ing enforced misfortune to worthy and In
dustrious citizens of this city;
Whereas this city has proven in the past
TO those desiring investments that capital
placed in property in Washington. d. c., hes
always been fully secured and considered
by expert investigators for foreign investors
first-class security. for the following rsa-
sons:
The substantial and artistic manner
In which our buildings are erected;
The simplicity of the method employed
In securing loans on real estate-by deeds
of trust;
"'Our freedom from heavy fire losses ana
uniform rate Of taxation Therefore be 10
desiring TO assist in the restoration of con-
hdence, and thereby, encourage those hav-
ing capital to invest in building to take
early steps to that end, do hereby direct
the president OF this exchange to appoint
committee Of five to draft suitable resolu-
tons providing for a reduction in the cost
OF building for a period of five months, or
until July 1, 1894. the reduction to be for
the benefit OF all persons entering into con-
tract for work within the time specified;
and, be IL further
OF building operations IL is all important
that the cooperation of those Interested
De secured. and to the end that the present
reduction IN building be sufficient TO induce
those having money to invest or those con-
templating the Improvement OF their prop
erty TO seek the present as an opportune
time. Therefore your committee Is hereby
the representatives of the financial insti.
buttons of the city. delegates from the va
rious labor organizations, all manufacturers
ana dealers in building materials. and all
others that the committee In its Judgment
may deem necessary. Said meeting to Be-
held under the auspices of this Exchanfe"
The resolutions were adopted and the fol-
Thomas ]. King. Thomas w. Smith. James
ell
As to Theater Building..
A resolution was also adopted providina
Tor the appointment Of a committee to draw
up a resolution protesting against the &C
ton OF those who influence property own
ers to object to the erection of q theateP
On H street between 18th and 18th streets,
and also empowering the committee to
present petition to the Commissioners
10 the effect That this organization be-
heves IL would greatly beneft our city and
place us among the free cities of America
IL article 3 of section 10 OF the building reg
uiations be repealed, or at least modified
SO the restrictions requiring signatures
would not be applicable to the business por-
tons of our city,"
The following were appointed as such
committee: Messrs. Thomas Norwood, d.
}. McCarty. and Henry w. Wells.
This section of the building regulat1ons
referred to requires the consent OF a ma
Jority OF the owners of property In the
block and the side Of the opposite square
before permit for the erection of n build.
ing Tor theater purposes can be issued.