The Washington herald., 1912-01-07
OBTAIN DELAY FOR
TRUE VALUE Bill"
Real Estate Men Before Dis
trict Chairman.
FOR JANUARY 10
Protests of Leading Owners and
, Brokers Dissuade DIstEist Chair
man from Calling Measure Up
Tomorrow as Was at First In
tended-Prol<ers Make Protest.

After a conference OF more than three
hours in the rooms OF the House Dis
trict Committee yesterday morning. about
thirty representatives Of leading real es-
tate firms OF Washington succeeded IN
obtaining a stay OF actiUn on the true
consideration. bill which was to have
been called up and passed in the House
tomorrow. The chairman Of the Dis
trict Committee announced that while the
arguments OF the real estate men had
not shaken his faith in his bilI. he would
not call the measure up in the House
until further hearings had been had
on II.
A formal hearing will be held. begin
ming at 10 o'clock Friday, January l9
From the attitude in certain quarters
at the other end OF the Capitol. Il is ap-
parent the bill will have rough shedding
in the Senate II Il passes the House. The
opposition In the Senate. however. is not
SO clearly defined at the present time as
TO indicate definitely the chances OF the
Hill there
Was Hastily Called.
The conference yesterday was a hastily
called affair. resulting from che an
rouncement that the chairman OF the
House District Committee had decided TO
call the measure up In the House to-
which is District day. Time was
lacking in which TO arrange a formal
hearing, so the real estate men and
their attorney, Levi Cooke. arranged for
an Informal meeting with the District
chairman, at which they might present
their reasons for desiring a hearing.
Mr.. Cooke, in presenting the claims Of
the citizens maintained that the phrase
Glogy Of the bill might be changed TO
Mr.. Cooke believed that the
part requiring that all deeds Of trust
and conveyances be accompanied by am
davits setting forth the consideration in
the sale might be construed TO invalIdate
the title in cases where the true consid-
Grafton was not sworn to.
Among those at the conference were
Brainard II. Warner. George Y. Worth
ington, II. l. Thornton, B. II. Warner,
Herbert Shannon. Britton Brown, Harry
Randall Hagner. Reginald W.
Beall, Charles Fairfax, William II. Saun-
ders, George White. George Easterday,
James L. Parsons, J. d. Sullivan. L II.
and c. W. F. SwartzeH
Besides Mr.. Cooke, Randall Hagner.
II. Warner. and Fulton r.
Gordon spoke. Representative Dyer, OF
a Republican member Of the
District Committee. was present during
a part OF the conference. and appeared
greatly interested IN the question
Dishonest Methods Cited.
A question by George Y. worthington
As to the motives behind the bill eiicited
the information from the chairman. that.
besides furnishing needed information |
Tor the. District assessor. Il was hoped |
he bill would make impossible in the
future frauds by real estate men of q
kind several instances Of which had been
,alled to his attention in confidential
The chairman told Of a case where a
-eal estate broker vas alleged to have
'old piece of property for a certain
AMOUNT and received q higher price for
{. pocketng the difference, and hiding
lis dishonesty by declaring a nominal
OF SO in the deed. A num-
YER of the real estate men protested
hat the broker In question should have
,een semitic the penitentiary and that
he committee should not allow itself TO
" moved TO an act hostile to the entire
because of the dishonesty IN
few cases.
Men who do those things should be
ent to the penitentiary. We have 81 law
o cover that case" they said.
Randall II. Hagner said the recital of
general depression in real estate
-alues in the District II the assessors
we're guided purely by such sales in
heir tax levies. Mr.. Hagner pointed
ut that in many Instances peculiar con-
:tions necessitate the selling of a piece
Z property at a sacrifice. II the true
rice Is stated in such cases and the
SCISSORS are guided by such statements
a assessing Il and adjoining property,
e said, II will result in lower assessed
alues for nearby property.
Fulton r. Gordon spoke in behalf of
wners OF unimproved property In the
district. pointing out complications he
aid would result in assessment values
rom the subdivision OF large tracts
Bra lard H. Warner. who presided over ]
he first called meeting OF real estate
rokers, spoke 10 some length in opposi- 1
on TO the bill.
Many of the men here" said Mr.. 4
Warner. have been in Washington q
reat many years. Naturally we don't I
ant business conditions disturbed by
iuovations, the purposes of which We
annot indorse. Ii
Il do not believe the District Commit 1
se should be swayed in favor Of this {