The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-10-10
Real Estate Exchange Members
Heartily Endorsed the Worlds
Fair Amendments.
PRACTICAL AID TO BE GIVEN.
Strong Opposition Developed to the
Proposed Taxation of Mort
cages and Deeds Of
Trust.

ht a uolI-at;endei meeting of members
If tie Real Estate Exchange hold ut head
quarters yesterday the realty men adopted
[ strong resolutions rcaflirmiHE their faith in
l The Louisiana Purchase Worlds Fair and
urging the adoption Of the amendments in
! connection herewith ut the coming cleo
tInn.
President Malcolm Macbeth and Score
tSry W. l.. I.irhtho'i'r occupied IN"
/ rus;-um. Among tho others present were
, Russell :. Richardson. Joseph L. Whyt'.
J.. G. Eowsc. James NJ. Carpenter. j ii.
| Tory. Charles T. NoSel. N r. 'ramer,
/ john :. Blake. james +. Blake. James II.
! AIacri:r. Jacob l.. Epstein. Il. q. Farrar.
I Martin :. Brennan. J. ii. Gurdlach. n. -.
Rule. O.. &. Cruuc. f.. l.. Russell. Charles
| II. rate. II. T.. NcC"Il"m, l.. \. Boyle. +.
T.. Ni,s,u. james p. F"@S, ". \. Giraldin'
Charles l.. GiraiIiu. Thomas VI. Grace. W.
\ T,utI.d@,. Sidney Srhi"le. Charles y
Anderson. l.. W. Greer. O-on Guitar. Jf'
and John y. Watkins.
Having a~ccrptr! ave amendments TO the
bylaws ul tar exchange. the meeting pro-
,~,-.slri To discuss the constitutional iiH' hG-
ir,uts To IL voted on November .. y com
miit.s composed az Joseph T.. Whyte.
Jane, VI. carpenter and \. o.. Rule was
name! by the ~, ~iirIt. After IA brief ses-
eion in the plItbouA room the committee
returned with the following. which wero
adopted by acciamat!oH:
Resolved. That the *. Louis Real Estate EH-
change h,a5tiy inlo'~'s the fourth and fifth
,u.s;.rut.v.a. amendments Il be voted uEon at
L." E,Gol,i e.'utIOu Oh N"seInt,r =
We ard v.rk for Amendment No. :. which au-
tluIlz,s H. city Il ~. Louis to increase -
bra4.d indebtedness N TIE sum Of &.s'tovc iG-
tho purpose II investing sucH amount In stoch
II the wor!d.s ram cgrpgratou an that -
H'uJ. AI-J that TH"'nr"rs explain 70 their eli
81 ana otHers that IN. I,pay Hight OF ths !oli
VIII D. sII,ai over a i'iiod ~ tLlrty years ana
tIat tur ,!I"ct On taxation wiI b. nominal.
>. -! T.. ,au-utur.onaI amendment 40. 5, which
auf-.r.z.S tue state L+sl~!lJur- To appropriate
t.,-. 30 f E"' n Sat tixIhll!t at The Lonisiaht Puf-
chase C'uteuaial; aud tEat members and all IN
=. t.,lr els and country Co.resT.uGrEts that tho
ras-sse II this amen-m,nt viii not Increase
Resolved. Tina, all members lie requested 70
en lhdsiI' tn' mi rIlhcr OF We l-Stasr OF
d,rtr in tie state OF NJ s-JuII- The entire Stat,
and ~ surrounding country VIII b-acit as mu,h
c,,h,r or Ioth OF the amendments would be a
serious blow To the proEIess of the state and
also the prospects, OF tho holding Il the Worlds
Resolved. That the Real Estate Exchange reat-
firms lis T'cd=" o. SUPPORT 20 the Wor.i's Fair
movement. and tenders Its rervices 10 the Exec
as NAV appear 10 them best calculated to pro-
Gucs immediate and valuable results.
Tho proposed constitutional amendment
authorizing the taxation OF mortgages.
deeds of trust and contracts did not meet
with the approval OF any number present
Regret Was expressed that a proposition so
hostile 10 real estate interests VIII nave
to be voted on at the same time 40 the
Worlds Fair amendments. James NJ
Carpenter pointed out how the tax would
deter outside capital from investing In this
State. II would also cause serious compll-
cations in the matter or assessments and
tax salos.
NJ. :. Brennan. q former district assessor,
was OF opinion that money lent on real
estate should he exempt from taxation.
charles +. NoCCl declared that the tax
would have TO be paid by the borrowers. ~
4. would UnqIcsti1Uably raise the rate of
interest Pad 10y that class. II would also
tend 20 drive away outside capital.
l.. Z. Niesen expressed similar views. ana
c. G.. Crane was stiil more emphatic. In
order 20 place the matter before the meet
Ing. Z. {. RGwSc moved that Il was the
sense Of those present that the amendment
in question should he opposed. Eventually
the following resolution. introduced by Mr..
N"gcl. was unanimously adopted:
whereas. THc adoption OF the third rom
stitgtipual amendment concerning taxation
Will have the efec, Of driving capital ont
and impose additional burdens on the Dor
rover of money on real estate security;
therefore. be II
Resolved. That we. the members of the
St. Louis Real Estate Exchange. place our
selves on record as being opposed to the
adoption Of said amendment.
In the CCurS. OF the session. Treasurer
r. II. Richardson read his report. which
Indicated that the exchanges finances were
In sound condition. with 4 good-sized bal
aHce at the bank.