Omaha daily bee., 1908-11-08
TIMELY REAL ESTATE GOSSIP
Dealers Say Expansion in Realty Cir
cles Will Follow Election.
REALTY MEN TALK TAXATION
VIII Try 60 secure change in Laws
Relating "a the Assessment of
Mortgages Held In THIS
state.

In Omaha realty circles. as with all
other business men. the national election
was tho completely overshadowing
event the last week and this in spite OF
the fact that the Omaha exchange had a
little election Of it's own, choosing Off
GERS for the new year.
The importance of the national election
to real estate dealers cannot easily be
overstated. for the transfer Of property
responds to business depression or adj
vance almost as quickly as the mercury
in a thermal tube does to a change in
temperature. Political preferences aside,
all local agents will be found in agree
ment on the statement that the end of
political discussion will mark the end
Of the Inevitably quiet period which pre-
coded a national election. Many members
of the local exchange viii go much far
Their than this and assert that the cleo
ton of Taft means the inauguration Of
an era of building expansion and of in
crease in real estate values in Omaha to
which the past will furnish no parallel.
Nothing is easier than to indulge In
optimistic predictions of this sort and
with many men It is part of their BUSH
ness creed so to do. The result is that
the public tends somewhat TO discount
these rose-colored visions of the future.
But in the present case there are sub
~stantial facts on which the deduction of
great. real estate activity logically and
Inevitably follows.
In the first place. manufacturers and
jobbers are planning TO build that they
may increase their plants and output.
This cannot be denied. Announcements
= -. t-Aa,kso, have boon forthpnmtnp
and more will be heard in the course of
a short time, the publication only pend
ing the completion of certain deals. 1t
follows that property must change
hands TO carry out these plans and theve
is nothing in a monetary way to inter-
fere. for the banks and investment COM
panies are being filled with money which
investors are anxious to get working.
Every factor is at hand-the desire and
plan to build, the moderate prices OF build
ing material, the money to finance new
enterprises and the certainty that activity,
guided by even ordinarily good judgment,
will reap a handsome profit. In the face
Of these facts no doubting Thomas dare
question the assertion that a period OF
great but healthy growth in the real esr
tate world Is assured.
sales the last week nave Deen CHloilS III
the residence districts and there is no
reason to doubt that business of this kind
will continue strong. The new enterprises
referred to above will have their effect
largely In business sections of Omaha and
along railroad terminals. THU a healthy
balance will be preserved and business
section values will not ,depreciate because
Of abnormal expansion in suburban districts,
a condition which has hurt Chicago prop
erty for years. according to a recent edi-
torial In the Real Estate News.
In the same discussion the question OF the
burden Of taxation is raised and a complaint
made that real property bears a far toe
large proportion of the assessments. This
question, one of the broadcast which rea.
estate owners and dealers face, is certain
to be the subject Of d great amount Of dis
cussion in the future. For this reason,
among many others, the decision of the
Omaha exchange to join the national ex'
change Is held to be most wise by members
OF the local body. 1t Is obvious that loca
power cannot fail to be augmented by the
decision. and even were this not so the
enlightenment which comes from co-ordl
mated activity will be decidedly worth while
Sales In Forest Hill Park addition were
numerous during the week, Hastings q
Heyden transferring twenty lots In thai
tract. or these two were at the southeast
corner of Tenth and william street, fol
$500; one at the northeast corner Of tn,
same intersection. for 81 1900, to Henry w
Dunn; one at Eighth and William, to Mrs
Augusta Hinrichs, for SLIPS, and another II
the same block. to f. Yirak. for $1,000.
-
There is some prospect that the next SEES
sion of tho Nebraska legislature will SCI
an attempt made to remedy inequalities Fl
taxation with respect to mortgages. As al
the world will admit, under the presen
system. Nebraska capital is placed at
disadvantage with regard to mortgages
being subject to a tax, while foreign cap
ital escapes scot free. The result is tina
some Nebraska money instead OF being in
vested In this state goes outside. More
over, those who do pay the assessmen
bear an unqualified burden. It being ad
mitted that some men dodge their taxes I
this respect. Iowa will see a similar move
ment at it's assembly session, the Iowa TIA
Revision association. OF which forme
Mayor Pierce OF M~arshalltown is presiden
having been formed all over the state I
fight for this object. A flat rate tax DC
t100 on mortgages applicable to all en-
eumbrsnces OF the kind is proposed acros
the Missouri. This has been adopted wit
success In Minnesota, New York and oths
statea
The largest apartment house in the couI
try, perhaps in the world. will be erects
IN New York City. says the Journal
Commerce. 1t Il said that the plans will |
filed early next week with the tenemel
house department by Hiss q Weeks, Il
architects for the Belnord Realty compsn.
The entire block bounded by Amsterda.
avenue. Broadway, Eighty-sixth and Eigl
ty-seventh streets VIII be occupied by Il
building, which will be $50 feet long, 2
feet wide and $50 feet high, II is expect,
that It will be completed in a year. The
will be us apartments in the twelve storl
OF the house and each apartment will CO.
tain from nine TO twelve rooms. The con
pany formed 10 finance the venture CO.
tains several prominent New York busine
men. Henry r. Thompson, Henry r.. Ho