The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-12-29
REAL ESTATE AND
BUILDING NEWS
Is There Another Big Ed
ucational Institution in
Sight for Richmond?
TROUBLES OF THE
REAL ESTATE ACTS
They Are the Best and Prolnptest
Customers the Tax Collectors
Have to Deal With, Paying
State and City Vast
Sums OF Good
Money.
TROUBLES OF THE

/
AS general rule real estate agents
are opposed. religiously or otherwise,
to making sales the last week in a
prosperous year.. or any other year, as
for that matter. 1t Is quite likely that
IL a capitalist or investor should APP
preach any real estate agent in Rich.
Inond and come with a big roll OF
money or certified check and o
proposition TO buy. said investor would
be highly entertained. but all the I
same the last week in the year Is
usually an off one with the agents SO
lar as sales are concerned
There We're no sales made last week !
that are worthy OF mention. but the |
agencies have not been having any
holiday season. not by great deal |
The fact is that the last week Of a |
dying year is generally very busy |
one with the Richmond real estate |
agents.
Tux-Pnyins Business.
They have enough business to keep
them in their shirt sleeves in the day. |
and In something OF night-mareishl
condition after the sun goes down, |
considering and arranging for their
elongated tax lists.
1t is estimated that the real estate
agents of Richmond hand to the col
not less than one-third OF all the real
estate taxation that Is paid in by own
ers of Richmond realty. That is part
OF their business, and sometimes 1t
proves TO be q very annoying part OF
It. Every agent has the handling of
certain properties. and a part OF their
business is to look after all the
charges on such property. such as
taxes, insurance. repairs. etc. This is
the custom in every city in the United
Etates, but ii is quite likely that Rich
Inond Is the only city in the whole
country In which the custom is for
the agent to pay the taxes on the
property of his clients and then await
the convenience OF the rental Or other
income of the property for reimburse
rnent, and yet get no commission for
this work or for his waiting. The
agents In q majority Of cases pay the
taxes of their clients, and IN many IN
stances they have to wait thirty. sixty
or ninety days. or even four months.
for reimbursement, and there are no
commissions and no interest accretions
to relieve the fortunes OF the night
mare above mentioned.
How and When Paid.
The State taxes and county taxes
are due without further grace on the
30th OF November of each year. City
taxes are payable, one-half June 30th,
and the other half December 31st. or
sooner IL it suits the convenience OF
the owner or the real estate agent VINO
has to do the paying.
1t thus happens that on or about the
dates above named the real estate
agents who have SO much tax-paying.
10 DO are In too much of a sweat 10
give much attention to sales Of realty
or negotiations looking to such sales.
During the week just closed. or at
least on such days of the week as We're
not legal holidays, the agents have
been footing up their books, paying
the taxes OF their clients and trying
10 get their plans for the new year
well in hand.
1t is safe to say that'not sale was
made. Some deeds have been recorded
in the Offices of the clerks of the
courts--one firm, Green and Redd. re-
corded twenty yesterday--but the deals
leading to such writings were made
weeks ago.
What 1Ieancth This Deuls
For instance, deeds which have at
tracted not little attention and
caused people to do some guessing
We're recorded only the past week. but
they were month or more old when
sent to record. These deeds show that
tne Key. Dr. James Cannon, Jr.. of
BLACKSTONE, has purchased Of Mr. John
r. Branch. of this city, valuable prop
erty at the northwest corner OF West
Grace and Mulberry Streets, fronting
lea feet on West Grace. also a large
lot at the northeast corner OF West
FRANKLIN and Mulberry. These are
large lots, but considerable distance
apart. and Mr.. Branch Still owns the
intervening property n
MI. branch has been applied To fo,.
information as to the meaning OF this
deal. but up to this hour of going 70
y press he remains as mum and as dumb
as an oyster. J{
non is distinguished educator, tho
principal of the Blackstone Female In
stitute, one OF the best prepare tory
schools in the State, and that he is 4
faithful servant of his the Methods,
Church. believing implicitly H. higher
religious education strictly under
church control, that is to say, So far
as he is concerned. Methodist Church
control.
Other Known Facts.
1t is also known that Mr. Branch is
the wealthiest Methodist in Virginia
perhaps the wealthiest momber or that
church in the South His liberality to
his church and to its educational en-
terprses are we'll known throughout
the South. especially in Virginia.
Putting this and that together aad
remembering that DR.. Cannon is not
a real estate speculator, but minis
ter Of the Gospel and an educator, il
is not hard to guess that the transfer
of this valuable West End property
looks very much as IL Richmond is al
an early date to be the seat of anothe.
religious educational institution oi
large and commanding proportions
Will 1t be college for women on the
n order of the Woman's College at Lynch
burg, which poses as one of tho links
s in the Randolph Macon chain, but Is
" not absolutely under control Of til.
Methodist Church.o or what will 1t be-?
The question has the Methodist PEG
III ple Of Richmond as we'll as the rea
,s} lconttnuea on Firth Page,)