Omaha daily bee., 1914-11-15
TIMELY REAL ESTATE GOSSIP
President Thomas of the Exchange
Delivers Inaugural.
MEMBERS ARE GOOD ADVISERS
says Expensive Residence In Unde-
sirabIe Location IL Worth Little
More Than Cheap Cottages
Surrounding.


surrounding.
'I doubt very much IL there Is a body
OF men In any city OF Omahas class who
are as competent to give valuable advice
10 their clients as the real estate mon
OF Omaha are today said w. II.
Thomas, Howly elected president OF the
Omaha Real Estate exchange in his
inaugural address last Wednesday. Mr..
Thomas presided over tho meeting
Wednesday az the first one since the
newly elected officers have been In
stalled. The inaugural address of Presi-
dent Thomas follows:
I'm assuming the duties OF president Of
this exchange, feel that ! am placed at
disadvantage In attempting 10 follow
In the footsteps of my predecessor. who
without apparent effort and in n very
pleasing manner so efficiently and ably
performed the duties OF president for the
last year. II IL my opinion that he should
have been reelected for another term.
1T Is n pleasure to be hero and to be
associated with the men who are build
| ing the new Omaha. have boen
member OF this exchange about nineteen
years and have been familiar with its
membership during that period. Some
Of you have specialized along one line
or another. while others have been quito
successful In several branches Of the real
estate business,
Oniahn IL GrOwing.
1 Omaha n growing and so are the
members OF this exchenge. Each of you,
am sure, understand better the various
factors that tend 10 increase, decrease
or cause the shifting OF values within
growing city. You know that the re-
tall center Of a. city moves toward the
best residence section. You know that
as a city grows. the tendency Is toward
n greater concentration In the business
center and. as the residence sections con-
tinue TO expand from increase In popula-
tIon and wealth, there is certain TO be a
readjustinent OF the business center 70
conform with Il. You know that mis-
placed building Is a waste OF capital.
You know that a badly planned building
is an economic failure and interfercs with
increase In land values You can de-
termine the difference between the COM
, merclal and structural value OF n build
ing II there Is any You know that land
used for wholesale purposes seldom ex-
ceeds value OF 800 10 $3.50 per front
foot In cities having a population OF l26,
Geo to 900. You are aware that II Is Inn
possible 20 fix n limit 90 the increase
. In value of a strategic location In a re-
tail district of growing city. You
, know that as rulo public buildings
placed within a retail section, interfere
with the advance In value OF the lands
surrounding them. You know that an
! expensive residence In an undesirable To-
cation Is worth little more than the cheaI
cottages surrounding It, You know that
land value within city advances Will
increase in population. You also know
. II you have taken the trouble TO ivesti
! ! gate that tho advance IN land value N
|, Omaha in recent years il due more TO in
/. crease OF the volume OF capital than e
Increase In population. as tho increase II
population from 1900 to 1910 was but ?
per cent, tho gain In bank deposits fol
the same period was 9i per cent and TN
increase in bank clearings show gain o
= ifI per cent.
Must Understand Growth.
n -The better you understand the intri
q cate factors that enter into the hap
: hazard growth and shifting of value
- within a business district the bette
n equipped you are TO select safe an
!. strategic locations for yourselves an
4 clients After ali, there Is nothing NOR
] important than location. On March
group OF mon assembled at the count
court house IN bidding contest for on
OF the great strategic locations OF IN
, future. There were men there with ca
4 oeIlent Judgment, but short OF funds
there were men there with money VIII
did not have sufficient confidence !
IN their Judgment. The property went
g the man who had the money and n
X confidence TO back his judgment
~ II have only reminded you of a few
Of the important factors that you are q
III mlllar with aud which should be kept
ID mind In conducting real estate bus
he ness. ! want 20 say further that doul
IN very much n there is body OF men
IN any city OF Omaha's class who are
lg competent 10 give valuable advice
y their clients as the real estate men
ne Omaha are today. There are question
Is. OF policy affecting real estate interes
Irt that should receive the support and e
OF dofrenlent OF this exchange which 1 "
Ee refer to later.
m with a view of holding the reput
he tion OF this exchange up 70 lis prese
hish standard az live factor in q
vanclns the real estate interests and
re upbuilding and Improvement OF omai
ID ask each Of you FOR your hearty a
energetic support"