The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-06-04
CONSERVATISM IS
EXCHANGE ADVICE
ron ANNEXATION. BuT POINTS
OUT THE IMPORTANCE OF
DUE DELIBERATIoN.
MIGHT co TOO FAR
QUESTIONS OF HEALTH con-
CERNED-ExCHANG INCREASES
REWARD FOR DEPREDAToRs--
AID IN ITS FIGHT.

! While placing the Richmond Real
Estate Exchange clearly on record as
alvoring annexation. the board OF man
ayers of that institution, at the regular
monthly meeting yesterday afternoon,
adopted a resolution urging the
necessity of conservative action along
this line, and stressed the importance
of not taking in excessive territory
where public utilities cannot be. ex-
tended within reasonable period,
and at the same time calling atten-
ton to the health and sanitation
problems that must be considered in
the scheme Of annexation.
The full text OF the resolution fol-
lows:
The Richmond Real Estate Ex-
change endorses and favors a reason
able scheme of annexation. but recog-
nizes the Importance OF conservative
action along that line.
1t emphasizes the importance of not
taking In excessive territory where
public utilities cannot be extended
within a reasonable time.
1t realizes further that the future
development of the city. and it's
health and sanitation problems must
he considered in such annexation
scheme.
Increase the Reward.
The board of managers also voted
TO increase the reward offered by the
exchange for the arrest and convic-
ton of any person committing a depre-
dalton upon vacant property from $40
to s25. Quite recently the exchange
adopted this novel and sensible
method of protecting its members
from the injury to unguarded prop
erty by vandals, and each members
OF the organization has been supplied
with flaming red cards announcing
the offer of reward for the detection
OF any guilty person. This reward has
stood at $40, which is paid by the ex-
change. but the managers decided yes
terday to increase this TO s25 in order
to better safeguard the property in
the hands of its memheras
The Real Estate Exchange. Presi-
dent Bunsten stated yesterday. Is re-
ceiving encouragement on every hand
Yin every fight for the reform OF the
mortgage tax laws. Only yesterday
President Funston was In receipt Of
letter from Hill Montague, candidate
/ for the house of delegates, pledginE
his support in the fight the exchange
is making fer the reform or repeal
of this iniauitous statute. Assuring
President Funsten of his hearty sup
port and sympathy, Mr.. Montague
says: Il would be willing to make
a fiat tax of during the life of the
mortgage somewhat less than one
half Of one per cent n 1t can be found
that our tax resources would permit"
At the last session Mr.. Montague sue
coded in getting bill through the
house amending the law with refer
ence to the tax on deeds, which
brought down the tax to a nominal
sum, but it failed in the senate.
Colonel John S. HARDWOOD. of Rich
mond, who Is standing for the vacancy
in ha IA rH je utt
ton, has assured the exchange that
he stands for sweeping and general
revision of Nirginia's tax laws, which
( he pronounces pernicious and an
tiquated.
/ Yesterday President Funsten re-
ceived letter from a prominent
farmer In Western Virginia. who is
also one of the supervisors of his
county, with reference to the pamphlet
the exchange recently distributed
bearing on the reform of the mort
gage tax law. Writes the farmer:
II hope you will send those pamph-
let's to every county in Virginia, and
that you will not support a single can
didate for the legislature who will not
agree to the amendment Of the per-
nicious statute. Though i live in
one of the most prosperous agricul-
tural sections of Virginia, four out
Of Ave farmers here have their mort
cages on their farms and they are
paying taxes on the land while the
mortgages are paying taxes on the
mortgages. 1t Is double taxation,
pure and simple and we must get
/ rid of it,"
! The real estate men throughout the
State are also giving attention to the
| fight the Richmond exchange has been
making and President Funston said
4 yesterday that before the next session
OF the general assembly convenes the
movement will have assumed such
| proportions hat the legislators can
not AFFORD to dsrgard it, If. indeed.
there are any here not pledged to the
! support of tax reform.