The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-09-28
Dull Season Nearing the
End, in Spite of eau
tiOusness of Banks.
STOCKING BANKERS
SOLVING PROBLEM I
Plenty of Money Is About, busl
Same May Be Held Back for
Certain Effect-Banking by
Startling Views
of Observant Man.
Building Notes.

them, are of the opinion that thinpa p
are looking very much better. one Of !;
them yesterday morning told mo IF j, q
goodly number OF small sales that
were made during the past week. manv5
ol Which represented money that the s
buyers had been able to borrow THAT 4
buyers of realty can borrow money for
legitimate investment Is. indeed. a.
good sign OF the times, but one of the
agents VINO was not SO awfully opti-
MYSTIC expressed some views that may
DO interesting. He said:
- know they are talking to YOU 4
ABOUT easier money and all the like 4
OIL that, but don't you DO fooled that
is not too soon. The fact is the banks;
are not ioosening up yet as they should
loosen up. Say what you may. biz
there Is a little coterie of bankers IN
yonder in New York who yet control I
the situation all over the country.
Ihey have only to wink and all the
other little bankers. even these Iii e
Richmond, hurry to say, Me, too.s
Within the past few weeks the wink.
mas oeen made in New York, and the
real estate men in Richmond have
heard the me too reply that has heem y
made by some of the leading banks or
Richinond. This naturally makes
money little tight In Richmond. but
am inclined to think it is thing
that cannot last very long. There. lis
z whoie lot of money being held in the
DanKs and being held back for pur-
pose, which purpose may or may not sbc I
to effect legislation in Washington. y
But the banks can't stand this kind y
OF thing indefinitely. They have the
money, and their business is to lend
1t out on good security. richmond
real estate is the very hest kind of se-
curity. but those New York banks have
cI f1,n ,,,t.-
reason is plain enough. They want
10 tHrinE some pressure to bear in
Washington. But money tied UP in
tho banks for effect Is not earning in-
'terest, and that is what money! is In
bank for | am sure. that MS matter
OF SELF interest and self projections.
the loosening up will have to- come,
soon. but Just when / am not prepared
to say. s.
The .StoclSing Hoidcrs.Y
II am inclined to think 1t will come
Very soon, for. remember there is a j
Kind OF financial background in Rich-
mond that is peculiar to the good old !
town There are folks here who at
ways have money to lend on first-clnss 4
security. and from the days or Williaris
Byrd. they have been taught that there
can be no better security than Rfchll
mond realty u is to be admitted that;
certain conditions in Washington and
elsewhere have for the past v few,
months made these local Stocking
holders ny little cautious, maybe too
much SO. but they are now coming TO I
the conclusion that their suspicious
were not altogether we'll founded. and
they are slowly but surely unloading
their stockings. The banks are seeing
this, and. rs tho stocking deposits
are seeking interest bearing invest
mcnt, independent of the banks, it
IN 1u nj hat ~ bo, ,tr
come to time. for they want soma OF
tho profits as the days go by On u
the whole. think the money tightness
will soon be casing up all along the {
line, and then we may expect some
thing lively in the. real estate BUSH
ness"
The Sweating Process.
The oracle who spoke as above z.
would not venture to name an exact
date when all of these good things
might come to pass. but from other
oracles and wiseacres in the real estate :
realm | gathered information that
leads to the conclusion that the season
OF dizziness that has prevailed for sew
eral months past is nearing an end
and that the sweating process the real 4
estate spectators and plungerS have =
been going through since about the
first OF June has about sweated itself =
out, -
Perhaps this sweating process was
necessary. There can hardly be d
doubt that the spectators and short
time investors overdid the thing while 3
they werc at Ii, and lots OF overeiue X,
paper in the hands OF some of the y
banks and many of the real estate
agents is ample proof of this fact, but
the banks have been lenient and so
have the real estate agents, and SO
far us reports go TO show, nobody has il
been made to suffer very much except Il.
m Of ms n al
Bctter Things Coming On. sS
On the whole, 1t Is plain that things
are easing up. and 1t now s.
looks as If the coming OF the frost,
which Is mighty near due, will find a a
general renewal of activity In the real Il
estate business. Transactions of the
past week indicate as much, for there
were many more sales than for the N.
previous week. 1t is true that all OF "
them. as far as reported, were on tho ~
small order. but the aggregate wac b
worth Dragging about. being "
in the neighborhood OF 100000. and
the general distribution OF the work
was Indicative of more liyeliness In all q
parts of the city and the suburbs
The contractors and builders are Hbe- sS
TO feel very much the effects b
Of the real estate dullncss that has
prevailed for several months paafy
However. they had whole lot OF work IS
hanging over. and they are still hop- W.
ing that before they get rid OF tfie 81;
''surplu3' things Will be lively again. 81
There is much talk OF proposed hi q S9
building operations for the winter bur s.
not great deal OF this talk CAN bS u
traced down to the cast-iron factM IN l*l
the case. One OF the rnniora Sgh len e ii
am sure has much foundation iu golfd SSs
fact is 10 the effect that before fs,S y,
moons new and full and wan8s ms X s.;
more times big work viii be cssfYI ,: 81
at the corner OF West Al Is fSS;5 SSa
and Belvidere Streets. The rupSor tflaE sp2
have run upon Is that a biz f1yaYSa 4 s:8
lcontinued Ola Fitch Passs Ri