Richmond planet. [volume] (Richmond, Va.) 1883-1938, 1918-02-09

Is also the victim Of unfair opinions
with reference to value. Certain real
estate firms in the city attempt to
nppraisc property all over the city,
which is physical impossible :ty to
do efficiently. III most cases, appli-
cations on this class of property do
not even require that the appra scr
visit the property. 1t only need be
known that 1t Is colorcd property
and the appraisal Is worked out in
the appraisers mind. As q matter of
fact all real estate in the city suffers
from tbs condition because il is
reasonable to suppose that the local
BROKER in his community surely must
knO" more about the changes that
take place in the community. affect
ing and influencing values. since lie
Is part of the community. than the
man who never has occasion to enter
t except for the purpose Of apprais.
ing a piece of property.
TITLE COMPANIES DISCRIMINATE
An illustration Of the inconsistcn
cy of this condition. which stands out
in my judgment to a marked degree.
Is the attitude OF the various title
companies in the city who canvass
among the colored people to servo
them In legal way. such as search.
ing of titles. guaranteeing of titles.
Eut when an application for mort
gage accommodation Is placed with
these title companies 1t IS politely
thrust aside with the explanation
that the companies do not care for
these mortgages on the theory that
they cannot dispose of them to their
investors.
The title companies can dispose of
mortgages on good colorcd properties
just as easily as they can dispose of
mortgages on properties tenanted by
other people If the companies stand
back OF these mortgages with guar
antco, and they can market their
mortgages among colored investors
But they prefer to have no business
dealings with them along this line.
This same thing Is true Of most
hanks. The inconsistency is again
shown here with reference to savings
banks for the reason that It Is esti-
mated that colored people have de-
nisited in various savings banks IN
the city of New York upward Of 500.
| 100000. But applications made to
these banks For mortgage loans are
respectfully declined.
Most real estate people feel that
colorcd people when they occupy pro
pcrty cause a condition of dcprecia-
ton. This is a theory not based on
| fact. IF co'ored people live under the
| same physical and moral conditions.
| maintain the same standard in the
property that former tenants have,
and pay their rent with the same
currency used by everybody, il hardly
seems conformablc to claim that by
virture of the color of their skins
they dcpreciatc property.
! BUYING SHOULD BE ENCOURAGED
1t seems to me that n people who
III thirty years can acquire over $15.
o00,Oo0. worth Of real estate In n city
like New York;. where economic on.
portunities for them are limited, they
must represent fairly good class
or citizens who should receive the
same commercial courtcsics that are
extended to other peoples who go to
make up our big city. Surrey. when
man heg.ns to assume real property
responsibilities which gives him DIFF
lercnC viewpoint and a broader out
look generally, he naturally becomes
better citizen, and in this way he
not only raises himself but his influ-
ence must extend to all those about
him.
When these colored owners arc fore
ell to meet present conditions to do
business with title companies and say
lngs banks, rather tnan be regarded
as citizens who must be eliminated,
they should receive the same consid-
Grafton as other races do. If this could
he devc oped, there would be greater
buying on the part OF these people
and 1t would create on the whole a
better people.
On. Y. Evening Mail.)