The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-12-21
Passage Of Currency
Bill Pleases All Real
Estate People.
AS TO TAXATION ON
MORTGAGES, ETC.
Richmond Real Estate Exchange
Has Hcart-to-Heart Talk With
the Senate Finance Commit
tee-Prcsidcnt Funston
Suggests Bill That
Is Bill.

more Interested Yesterday in the cur
rcncy bill that vent through lii,
United States Senate with grand rust
than they were in anything else
could not get real estate agent e
talk 20 me about sales or prospects OF
sales unless tho same had come bearing
on tho currency bill. One OF the
leading agents explained Why they
wcro al, 20 much interested. Said hei
The real estate business has been ~
complete standstil FOR several
months. and all on account OF this
financial Legislation. OF course. We
have all known that there was and is
here In Richmond n plenty OF money
10 keep business IN our line good but
the banks and the other holders OF
that money have been Keeping the
breaks on pending this financial leg
islation. last Why, l don't know, but
all tho samc they did ~. \ banker
threw up HIS hands 20 mo this morn
'nC, and with q hurrhh kind OF an ex-
clhmation. said that the bars would be
down az soon as the holiday season i,
over. and beginning very early in tho
nc" year money viii be easy enough
TO get real estate - moving all right.
siFo you this pointer: IN two weeks
from to-day you are going to sec a
great deal Of activity in real estate"
All OF tho agents With whom talked
had the same kind OF an op,iInis,ic
telling. ana AL Of 'hem wcrc willing
enough to take :, couplo of xacls on
during the Glad holiday season t. g..-
urc on tho good things that atc CON
ing when the icW currency Law v.ts
well into operation
FTrm 'nnd sn,~..
ne sales ci ilio past wcek were
largely. almost entirety. confined 10
= III
San q Nash. J. Thompson BroA.n d
company. Gibbony * NuckoiE. NJ
carneal &. Son. Pollard & Bugby ana
several other firms tell me OF some
good farm land sales they made: that
So they tel! me OF them in Il general
way, but decline TO give particulars.
however. in one way ana another
learn that these good sales we're made
closo 20 Richmoud. up the James River
ia Hanover County and ihcreabouts
some Of the salc-, however, we're mad
Taking iioiiIn..
city limits thcY were confined to a fc,N
home lots. and did not amvuit 10 very
much in dollars and c.u's fh, dcai-
"rs In suburban prur"ft- 'it svll lit
tie holiday business. $3.50 ua. told
that dozen or po,e lots changed
hands IN tn" nearby 4rurb 1888 Christ
All OF tho ngcn;s arc l.clirs M
shop closing no books anU NaHiu@ al
IIl' OIneT lFtifU4stA Si-n Iffl o. -tNt non
Gay time. AND all OF thenl art c&uectinr
10 open uU Tho new s..r NitI better
and finer prospects. cue TO tao passaEc
OF tho curren". OH in Congress that
will cnao!r tile 5ouks tu loosen VI
and mako money eSaier all ..lous ihe
line
Interested IN tho meetings that ARC
being held by tho state i'inaucc CON-
rni,tee. meetings that -. NDectrd 20 .
formulate the financial a1t. ta&atou 4
policy OF the next i..nisiaturo Tie /
Richmond Real Estate l.&chausc, (
through Its president. q - ru4sten, !
Committee, Lcroy =. Brown hus had
some heart to heart talks wiJn mIs
Al to Take. md So ON.
am told that the committee looks
NTH considerable fnvcr upon = bill
That has been Suggested by the Real
Estate Exchange through these Of
,icials. The rill they suggest If put
in legal phraSeoioey' would read
l. that tax Of my 800 cents Tor
each ono hundred CSlo6) dollars ami
principal debt or obligation which is,
or under any contingency mas he So
cured at the date OF the eNecuti"n
thereof or at any time thereafter by
mortgage deed OF trust or other CON
veyance on real property situated with ,
in this State. rcGorted on or after
and fourteen. is hereby imposed ana
collectiblc only once during the life
pr the SAID mortgage on tcI!NS. notes |
and other evidences Of debts secured
by such decd of trust. mortgage or
other conveyance. and shall be col
lected and paid as PROVIDED for In this ,
act. Ii the principal deb. OF oblga
tion which is, on by any contingency
may DO. secured b. such decd OF trust !
corded on or after tho iilat day OF !
July. nineteen hundTed nnd fourteen l
is less than one hundred (%100) dollars. !
a tax Of nifty 600 cents il hereby i'm
posed on such boid. note or other evil .
dence of debt, ard shall he collected t
. That all bonds, notes ana other
evidences al debt secured by decd OF /
trust. mortgage or other conveyance .
Of real estate situated within thig !!
state which are ttS2d by this act. ana ;,
tho debts and the obligations whici! ~
they secure, together With the paper +
cvidenciuE thc Same, shall be =
Exempt from. al otiler taXation by the .
state. counties. cities. towns. school e
districts and Other local subdivisions i:
icrred by this section Shall not bc !,
'"nstrued e." IMPAIR or In any manner :,
and or real estate which n:2y b. sold q
or nonpaymeut IF taNeS ar icvics | )
avied thereon. t,
Pay " YOU so. ia
8. That tho tn%es imposed by this ~
tct shall be payable ON ana :it the Il
inc of the recorda:ion OF each deed :,
IF real property subject to taxes here I,
inder;, Such taxes shall be paid to the -
'ecordinE officer Of any county or city r,
n which the real property or any q
'art thereof, is situatta, but only one
AK shall be levied. ana the SAM. shall ol
,c collected by the recording oficoI ..
II the county or city In which Tho Z
Instrument Is first recorded. 1t shall b
&c tho duty OF the recording Officer e;
o indorse upon each deed OF trust. u
mortgage or other conveyance by ~ ~
which said notes. bonds or other owl ~
or tho amount OF tho tax so paid. Anv M
eed OF trust. mortgage or other con. in
,eyancca lndorsed may thereupon or OF
hereafter be recorded by any record. III
CONTINUED on Third Page1 a.