Los Angeles herald., 1908-11-15

cation is virtual guarantee Of relia-
bility.
Need Not Be MisIed
There is consequently no longer any
excuse for real estate investors being
defrauded or misled. If they deal with
members of the organization they are
protected, and in case they feel ag-
grieved an impartial but severely criti-
cal committee will sit in judgment on
the alleged cUlprit.
So far the federation arbitration
committees services have not been re
quired. The local boards have disci-
plined a few members, generally ex-
pelling them when injury to their
clients was proven. And this fact to-
gether, of course with the qualifica-
tons demanded of applicants for mem
bership, has proven an effectual deter
rent or preventive.
There is a large number Of real es-
tate agents doing more or less business
outside the organization, responsible
only 10 themselves. but their number
has lately matcritlly decreased. And
while it is true that some of them are
honest and reliable, having failed to
join the organization either through
lack Of appreciation of its benefits. mar
rOwness. jealousy or some unknown
cause, i; is equally true that a greater
number. probably the large majority.
are afraid 10 apply for membership.
They either know that they would not
be admitted or realize that they could
not with impunity do as members what
they have done as outsiders.
Los Angeles has gradually become 70
a considerable extent a sort Of real es-
tate clearing house FOR the state. As
one Of the principal gateways for tour
lists and cOlOnists il is first visited by
many newcomers who expect 10 ulti-
mately settle north Of the Tehachapi
( range In order TO reach this class
some northern land owners and agents
/ have established branch offices here.
Business Centers Here
Many local agents have taken the
( agency for northern or central Califor-
MIA lands. And naturally most bf the
colonization business Of Southern Cali
/ fornia centers here. Even Lower cali
fornia, in Mexico, has its representa-
tives in Los Angeles, and Canadian
lands are advertised in Los Angeles
papers.
Unfortunately this large and pros
porous market has attracted from all
parts Of the country thieves and ecav-
engers. who would flourish unch hecked
save for an occasional and exceTtional
newspaper expose. were il not for the
! real estate agents organ iZatiOQ The
/ Realty board, working in conjunction
with and as a part OF the State Fed
, Grafton, has investigated and exposed
some OF the larger|aHd boldcr rascals
I who advertised such attractive bait as
9 "Ftve-acre tracts thai viii earn n liv-
ing for yourself and family for 5000"
Tracts of ten acres free to subscriO-
ers to our water and Improvement
shares on payments of 81 per week
: and per cent interest on investment.
until money is refunded, in ten years
Five acres and a free living; we ar,
able to make every dollar you inves
: earn 25 per cent or more annual!
without your working"
Unhappily, again. the law. accOTdin:
e to it's official interpreters, cannot pun
K ish a man for promises, or 'gUaran
tees" however extravagant, as to tn
e future. And "a sucker is born ever.
!, minute" Many of the latter clas
:, look askance at legitimate, homes
+ offers of good land by men of unques
r toned integrity, only to allow them
!, selves TO be fleeced by bunco-steerer
n possessed OF unlimited gall and gil
[ tongues.
ScoundreIs Are Shameless
2 And so shameless are these scoun
= drels that, even after exposure an
:. ! denunciation, they sometimes continu
o their practices. perhaps cutting out
: the most Objectionable features of thei
: local advertising and utilizing easter
= publications, or slightly altering tn
r form of their offers and the name &
their company or tract
Hence, the only safe way to dra7
the line is through the reputabl
It agents organizations. If a rascf