The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-11-23
A Standstill Situation
That Cannot Last
Much Longer.
MONEY MATTERS;
MANY FARM SALES
Holders of Richmond Realty Are
Holding Firm-Nobody Being
Pressed-Speculators Waiting
for Forced Sales That May
Never Come-Farrn Lands
Are in Active Demand.

The real estate situation may be de-
scr!bed as ct standatill." said prom
inent agent yestcrdny. Being asked to
explain further. he went on to cay
that there arc but few sales being
made. for The reason that the holders
of Richmond realty are not willing to
turn their holdings loose for less than
outside values, and tho speculators and
investors. who have money to Invest
OF know whore they con got Il for that
purpose are still hoping for the bar
gains that they thought the long
talked-of dull season and the much
Wanted money tightness would bring
TO the surface AS TO the latter propo-
sit.on--that IL TO say. the money tight
ness, SO callcd--he explained that while
the banks and the private money
lenders have been disposed and are yet
inclined TO keep n tight grasp the
money vaults, the fact remains that
thcy have never lost their faith In the
absolute certainty and the lo0-ccnt in
the dollar value OF real estate security.
md the man who has borrowed money
on his realty holdings and has not
overburdcned those holdings with mort
cages. is finding little or no difficulty
In renewing his loans with only the
cash outlay necessary to pay Up the
interest
Hence there have been but few forced
days on ahead. The investors and the
hpccuiators are waiting for forced
sales that VIII never come. and the
holders. even such OF them may be
burdened with mortgages are holding
firm, Tor right we'll they know. or
think ,hcy DO. that Richmond dirt has
not gone anywhere and isn't going any
where. and Is not shrinking in value to
hurt Thus Il comes about that the
agents who are very anxious 10 make
sales and collect commissions are find
Ing but little TO DO during this standstill
period. and quite 2 number OF them arc
having more time for duck hunting and
fishing and other kinds OF recreation
than they really relish. at this season
Of the year.
Homeneekers Keep Busy.
Nevertheless there has been some
thing doing in small way. and home
seekers and homemakcrs are picking
up things that suit them here. there
and everywhere within the city limits.
but mostly out In the suburbs Nine
cut Of ten OF the GALES made last week
were confined TO this class OF property.
! have heard OF three fairly good sales
OF business property within speaking
distance OF the central part OF the city.
but the agents who engineered the
deals are very reticent and refuse TO
&c into particulars. Between the lines
| learn that one OF these sales footed
up about $50. 900. and each OF the other
two went sum over the $4,000 mark.
In neither or the three cases have the
deeds been passed yet. and until they
passed Il Viii be impossible TO get
the agents or any Of the interested
parties TO give out any particulars.
Farm Lands Active.
The autumn dullncss. IL such thing
there be. is confined entirely TO city
business. Out In the country there is
activity in farm lands. and II is prob
able that more acres are changing
hands in various parts of Southern
Virginia this fall than ever known be-
fore at like season. The reason for
this Is easy 10 find. The young farm
ers have been wonderfully successful
for the past two or three years. and es-
pecially this year. They have made
good crops on rented lands. and have
laid by suficiency to enable them TO
buy lands for themselves. and in many
instances to pay the cash for the same.
majority OF them. however, are
buying on the usual terms: a goodly
cash payment and the balance IN one.
TWO and three years. l have heard OF
numbers of. sales Of farm lands OF this
character In all OF tho counties sur
rounding Richmond and up In the
bright tobacco growing country. where
farm lands are actually on boom,
there have been very many sales 1
hear OF special activity in the neigh
borhood OF South Hill. in MecklenburS
County. There many farmers who own
more land than they can cultivate. have
put many acres on the market and
younn men who know the business or
growing bright tobacco and the grains
and the grasses, arc taking them up.
investing therein the savings they
have accumulated within the past few
years from the cultivation OF rented
lands. From Prince Edward. Char
lotto Lunenburg, Buckingham, Pow
hatan, Cumberland and other counties
come repotrs OF similar purport
Nearer TO Town.
Nearer to Richmond and along up
the James River there have been nu-
merous sales OF nne farming lands.
Several Of the Richmond agencies have
been figuring in some OF these big
sales, among them n. w. Bowe & Son.
A. I. Adamson, Casselman & Company.
Ciolsan & Nash, Gibbony. Nucltols Com
pany, w. NJ Miller & Company, Ruffin
g. Sloan, Garrett s Company, and per-
haps others
Tho last named firm report the sale
OF Irwin or tho James" to r. II. How
ard and James r. Sloan for something
like $4,000. This is tho second time
this historic farm has changed hands
within a short period, the former sale
being made by tho same firm, to f. =.
Evans about ninety days ago. A
goodly profit induced the former pur-
chaser to resell, but now tho old place
IS in the hands OF people who propose
to hold and improve 1t. Garrett 81
Company havo also sold to Colonel
Charles Douglass. of Philadelphia, tho
Williams Ferry farm. on the Pamun-
key River. near White House. The
sale was made FOR the Bowers estate,
and tho price obtained was close to
$4,000. Colonel Douglass has also
bought an adjoining piece Of property
of 100 acros. and proposes to improve
tho property and make 1t his country