The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-01-01
EXCHANGE FACES
YEAR Of PROMISE
ORGANIZATION JUST SIX MONTHS
OLD WITH CLOSE OF THE
OLD YEAR
HAS A WORK TO DO.
PRESIDENT FUysTEN, OPTIMISTIC.
TELLS OF PAST ACCOMPLISH
dENTs AND WHAT FUTURE
HOLDS OUT.
HAS A WORK TO DO.

Though 1t cannot point with grana-
Eloquent pride to the achievements
Of q year. for the simple reason that
it was just six months old YESTERDAY,
the Richmond Real Estate exchanges
has accomplished so much In that
nrlei PERIOD that Il has demonstrated
peyohd peradVenture of doubt that
there is an important place for n In
the business life OF the community.
This organization. representing as
II does, the interests of property own
ers worth Ss0.o0o.0oo, has already
undertaken reforms of these. and
many more will be recounted as sr-
ronaplishInents before the Gun sets on
its laoors of another year.
President Funsten Optimistic.
PRESIDENT @. II. Funsten. to whose
generalship. coupled with the eo~op-
Grafton Of his brother officers ,uo,,,s-
ing the able secretary of the exchange.
r. ~ boykin. much OF the success
of the new organization has been due.
was very optimistic YESTERDAY over
the outlook for the new year
Though only Elk months old" said
President Funstcn. the Real Estate
exchange has become factor In the
business life of the community. IT
has a thoroughly up-to-fate oraan.-
F+%~+NAt W"AAi Gu tRAEiIRUFEAfikD OF nAArlR
nifty. who take a lively personal .r-
terest In ali It's affairs, and are will
ing and ready 10 shoulder their part
of the burden OF responsibility for its
success. The exchange has grown
stronger each month In rueYn sersttu
and financially. and ha. undersak es,
questions OF the greatest insportarce
and material interest to property
owners and the real estate world.
One Great Benefit.
"one or thu greatest benefit Il
has Instituted in behalf of real esta "a
agents is the matter OF forcing fro.a
the iedgers of agents constantly de-
iinquent tenants III the EXCHANGE
had accomplished nothing else ths,
keeping It's members posted on thu
class of undesirable tenants. IL would
have been worth the prfra OF ita
membership dues, and incidentally Ii
is rendering service to the COM
r1unity by recurring these men 10 he-
come better citizens
The members have all Piled grtts
themselves 90 the support OF bill 10
be presented to the next session OF
the general assembly for the repeal
OF the ubiquitous mortgage tax. which,
X not repealed. will certainly serious
ly retard the growth and deveioprn ert
OF the community. Still another -e-
form which the exchange has UNDER
taken IL that OF changing the law
which fastens responsibility for gas
and water BILLS upon the property
owners instead OF upon the party wh,
contracts the bills. and this We hope
to accomplish very soon
Auctions On the Floor.
One OF the great benefits which
will accrue to the members viii be-
the holding OF all real estate auctions
In Its rooms. for which they are spec
ctaliy designed. aud tile time Is not
far distant when II will be an novel 4
sight to see a piece OF business I,ror-
erty offered on the pramisas az II /
would be at this tlmo rs see a by
ringing a bell up Main street m re-
mtbder of an auction sale on the
premises, The auctions held thus
far have demonstrated tho wisdom o1
the plan.
The exchange has the cordial sup-
port OF the people who represent
sao.00e.00o worth of real taxabIo
values in Richmond. the support and
cooperation of every real estafa/
agent. And why shouldn't this gree
property owning class OF citisens Il
people who are doing the most q
Richmond's growth and future pro
perity along material and permansf
lines. have organization?' To m
mind the exchange has come TO n
want long felt and there ~ h
longer a doubt as to its stability, per
manency and continued success.
Ddseouxng5Aeo SPsEszanst sxsA
We are doing all We can TO dir
courage excessive speculation and I'll
encourage the real estate buyer tol
make permanent improvements, be- |
lieving that not only that Richmond's
growth and prosperity depend upon
1t I'm large I'M eaanrc. for We need BADLY
more and better honsin6 conditions
but also because NE believe great
monetary profit will sHaFe to the
property owner than TO the specula.
tor"
III vim and energy count for any
thing there liz no doubt but that this
organization will continue TO become
great factor In the community IN
the coming year. the future for u
Is certainly bright"
Amazing Realty Growth
Quoting statistics, President Fun
stem showed that In ten wears Rich-
mond's real estate valuation has In.
creased over 80 per cent.--An In
crease which viii probably not -
edualicd by any city In the South. In
1901 the real estate taxable values
amounted 10 34s,07s.i17, ana In 1111
they amounted to sS3,o34.276. II ~
estimated that the figures for 1917,
not yet tahuiated, with easily reach
sso,ooo.ooo and probably exceed that
sum.
The first annual meeting OF the ~.
change will be held the third Thufo.M
day In January at .. m. In th1
rooms of the exchange.