Evening star., 1915-06-05
NEWLY FORMED COMMITTEE
READY TO BEGIN APPRAISING
Valuation Board of Real Estate Brokers
Association Elects John p Story, Jr,
Chairman and H. L. Rust Secretary.

The appraisal committee of the Real
Estate Brokers' Association Of Wash
ington, elected at a special meeting OF
the organization held Tuesday night, Is
ready to begin business.
The initial meeting of the committee
was held Thursday afternoon. when
John P. Story. jr.. was chosen chair
man and H. L. Rust selected as secre-
tary. The appraisal committee met in
conjunction with the executive COM
mittee Of the association. adopted a
schedule of fees to be charged for ap-
praisals and arranged other operation
details.
The formation of the appraisal COM
mittee was the elimination of more
than three years of effort on the part
of the brokers: organization to bring
about the establishment in Washington
of a realty valuation board composed
of the best men available for this pur
pose and designed to facilitate busi
ness and not as a money-making prop
osition. Since the organization of the
Real Estate Brokers' Association in
September. 1912. the establishment of
such a committee has been foremost
among the plans OF the organization.
1t was felt. however. that an appraisal
committee should not be provided un-
til after the association had become
firmly established and its members had
had an opportunity to study the oper-
alton of the realty valuation boards
affiliated with the brokers' associations
in Pittsburgh. Chicago, Minneapolis
and other cities. The activities of these
boards have been closely watched, and
their reports read with great interest.
May Review Appraisa1s.
The plan adopted by the local asso-
citation has brought about the for1na-
ton of an appraisal committee that is
provided with machinery by which the
views of brokers who are specially
acquainted in a given section can be
had and used. thereby making It's con-
clusions the reflection. not only of the
committee itself, but of those who, be-
cause of special activities In a given
section. are best fitted to express opin-
ions as to it. Arrangements also have
been made whereby. in extraordinary
| cases, appraisals will be reviewed by
the entire membership Of tho associa-
| tion.
Those who have been elected to serve
on the appraisal committee are all
men who have had years Of experience
| IN the general realty business in Wash
ington. The committee fs authorized
20 utilize the services of other mem
ners of the association when isolated
properties and those not handled in the
general run of business are to be ap-
praised. In such cases the committee
may obtain the opinions OF men who
have handled such properties before
issuing q certificate Of valuation.
Personnel Of Committee.
All Of the members Of the appraisal
committee Of tho Real Estate Brokers'
Association have had at least fifteen
years experience in the real estate
business in Washington. and some have
had moro than twenty-five years OF
such experience. John P. Story. jr., who
has been chosen chairman of the com
mittee, is a native of this city, has
lived here all his life and has been en-
gagged in the general realty business
since about 1900. About seven years
ago he formed a partnership with Muir
ray A. Cobb. and since has operated un-
der the. hrm name of Story & Cobb.
Mr. Story has specialized In the sale
and rental of big residential properties
and Office buildings and other valuable
downtown properties.
Thomas Bradley also 10 a native of
Washington. Since 1893 he has been
real estate officer OF the Washington
Loan and Trust Company, and as such
has had a wide experience in real estate
| matters Mr.. Bradley has passed upon
| thousands Of applications for real
estate loans and accordingly has had
much experience in realty valuation
work He has been in the employ
of the Washington Loan and Trus,
Company for more than twenty-five
years. His first position was that OF
| ofice boy. Later he served as note
.teller.-and In 1852 -hewaa placed In