The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-06-15
Rental Agencies Still in
Limelight and Doing
Most Business.
WALL STREET TALK
HAS SOME EFFECT
Two Views of the Financial Stu
ation-Many Large Deals on
String Awaiting Wink
From the Money Holders.
Good Sale on the Boule-
vard-Various Notes.

The story is now getting old in the
real estate realm. 1T least two wee,ss
old, but it is just as true as whom
twas new, and that is that the renting
ana leasing business is now attracting
"a great deal more of the attention OF
ithe real estate agents than is the bust
ness OF buying and selling. l asked a
prominent real estate man If this was
not the fact. and he said it was true
mat the renting business and some
otncr considerations were making tho
selling and buying end OF the business
rather dun
Beins asked for more definite in
formation as to the other considera-
tons he said: why haven't you been
reading up on the stock market and
the money market and the doings of
the bulls and the bears in New York
ana all that kind of thing? The uneasi-
ness IN the stock aud money markets
has gotten the banks in Richmond and
everywhere else, for that matter
on an extreme or intense conservative
basis They are talking about the
scarcity OF money ana advising all in
vestors no matter what they may pro-
pose To invest in, even though it be
so safe and sure thing as Richmond
realty. to go little slow and touch
| thinss gingeriy Scarcity of money
is merely "A phrase. AS Il matter of fact,
the foolishness that has been going on
in Wall Street makes money more
/
who are in the habit OF putting up
cash on margin and otherwise for
stocks are withholding the same and
the money is piling up here in the
Richmond banks. but the bankers and
the money lenders are all saying, Hold
on q few days and let's see what New
York is going To do The reports from
wall Street yesterday and o-day were
more encouraging, and the Indications
now are that the little scare is about
week. and ! know of several right
large deals in Richmond realty that
are awaiting this loosening up. but 1t
did not start In time to have effect on
| this weeks transactions. and that is
at least one of the other considera tons
| that i was talking about"
Quite Another View.
Another agent took quite a different
view of the Wall Street "foolishness."
He said he was glad of the slump in
stocks; il would help the real estate
business here in Richmond, because,
said he, There are numbers of Rich
mond monicd men who just can't help
| from dabbling in stocks at favorable
seasons. When the seasons become
unfavorable they are more prone to
turn their eyes to the old reliable, that
| is, to. say, Richmond dirt. | look for
! better business within the next few
weeks than we have had for some time
past and all because tho investors are
! scared or have been scared, out OF Wall
| Street"
| Nevertheless. the fact is that the
rental season being now on, the buying
and selling OF real estate has been
made to take n temporary back seat.
and ii is quite likely that the dizziness
of last week is attributable to this
| fact more than To the others that have
been cited The rental agencies tell
me that they have been having bust
ness aplenty; that there is greater de-
mand for houses than has been known
! this early in the season for several
years back. all of Which means that
more people arc coming to Richmond
and the population is growing faster
than the builders nrc making now
/ houses for the newcomers.
| Some OF the agents say that rents
are bound TO be higher unless tho
builders get up more houses, and in
! fact. two agents told me that they had
experienced no trouble in making
terms at the higher rates their close
/ hsted clients had placed on their
| houses for rent.
nut Wall Street may come and go.
/ the rental agents may think they hold
/ the front of the stage. and all that
| kind of thing. but il would he q mighty
cold week in Richmond if no sales
| were made of Richmond dirt Num-
/ bers OF agents tell Of small deals here
and there. so small, some OF them say.
that they Will not tell about them. but
! in the aggregate the sales that were
consumated were something more than
| 100000. OF course. this includes many
| sales in the suburbs. where business is
| always supposed TO be little lively
] at this season OF the year.
/ : Few SnicS All the SnIne.
Perhaps tho largest single sale or
| the week WAS made by NJ H. Hofhcimcr.
! He sold $50 feet on tho Boulevard. OPP
posite the Battle Abbey, TO w. J. Gill
man. for 25.000 This was considered
a good sale as the same property sold
! six months ago at figures much less
/ than the above,
j. -. Cook x Go. sold 2il feet in
I South Richmond on the Atlantic Coast
: Line tracks To n party who proposes
/ to do some industrial and manufacture
ing development. and they got $4,000
/ for the ground They also sold 266 feet
| on Meadow Street for $4,000 and sew
! cral small lots for about $1,000 more
/ w NJ. Miller < 60. had a busy week
( in the Highland PARK addition. where
they sold fifteen lots at an average OF
$40 apiece They also sold a Grove
| Avenue residence for s22.Jn0. Cary
street store a Fourth Street store. a
! Floyd Avenue residence, aud various
! other small properties, making their
grand total run over 360.ooo Some of
/ these deals were practically made sew
eral weeks ago, but they did not get
entirely OF tho string until last week.
! , j. Thompson Brown & co. tell OF tho
| sale OF farms in York and James City
| Counties. that were boughtaby out of y
! state people who propose tn improve
! them. but their city sales were few
| and far between aggregating less than
[ S25, 900.
| Amos G. Co made some good farm
| sales, and one Of the members OF the
4 firm tells me that he never had moes
! inquiries for favnt lands near TO Ricii-
| mond. that is, within hundred miiea.
| than right now,
t. f. Schmidt & Co tell OF about
| CONTINUED on Fifth Pagej 1890