The Richmond Virginian. (Richmond, Va.) 1910-1920, 1919-05-04
BETTER TO BUILD
THAN JUST TO WAIT
loans Beyond 500. 600 Hard tn Get.
sa,S Ne" York Realty THnancier---
: AMORTIZATION OF Debts F>rovns
Hclpf ul.


80 The president Of one Of the largest
ss"Ne~ York .tin panies that specialize In
a~slaans MI building mortgages la>tweex
That builders can obtain loans upon
-iarnpositfons calling for an expendi-
= 'ufe Of not more than 500, 900.
Tie 'enfing institutions are not in
position 20 make big loans" he said.
otfsuoh MORTGAGES cannot be handled
at is absolutely necessary for builders
80 pub more carItal into their projects
than in years past. The situation Is
hound TO last during the reaadjust-
n1efst period hat The effect If tha
Iisser.y Loan campaign will 10 nobody
kn6us
The attv ude Of the lending snstitu-
tons r. that they are not going 10
fnakc losrss- tcmmenaurate with the
increase cost OF building Take the
~-Sftaasien Of new building put UP
Cow as duplicate Of building next
deer. The new building costs muon
more bu: II tie loan is increased In
proportion the owner OF the older
structure may look for a higher APP
IRA Isal or his building
Nevertheless. builders with sufficl-
ent capital and projected improve
n1ents IN gnnd- asixa AesAesti4- vi he
helped IN financing their operations up
To sIae,a9a.".
Conditions such az now exist will
lower the general standard OF ,liv-
ing which should, on the contrary,
continually be improving. While. nua-
erous Legislative and paternalistic
remedies have been suggested, ii IL
doubtful whether any relief can be
secured through artificial means for
the reason that efforts IN regulate the
building industry will tend 70 intir,t-
date OF discourage capital and cause
u to seek other channels OF invest
meut
With the more general adoption of
amortization a continually increas5E
amount of financial assistance VIII he
Forthcoming. There Is ample capt
tai in the country to take care OF
building needs and many Institutions
are showing their faith In the future
af the industry by making extensive
loans now. Their example will be
followed by others as the process of
mental sterilization becomes more
widespread The general outlook fer
realty conditions May therefore be
viewed with optimism. for there are
no fundamental conditions that do not
Indicate tremendous building activities
and the Substantial growth OF Amer
tcan cities for many years TO come
An optimistic view of the present
situation IL taken by s. vs.. Straus OF
the firm OF S. w. Straus 4 Co. Of New
ork, who urges the Immediate re-
sumption OF building. He says:
New construction work throughout
the country is still below normal and
housing conditions are daily becom-
ing more acute. While doubt In ex-
pressed with regard to the ultimate
solution of price problems, belief il
becoming more general IN building
cirles that costs will remain at present
levels with tendency to 60 higher.
This is Enthusiastically the situation
with regard p labor. which is by far
the most important element
Prom the Standpoint of sound bust
ness It is mote prudent TO build now
than to await the uncertainties, prob
able higher cost and the more re-
stricted labot market OF the future.
II Il. moreover, a matter OF splendid
patriotism AID public service to lend
all possible f(elp in the present crisis.
Build now IL a slogan that should
be accepted " every business interest
that can In a1y way promote activities
In this great Stndustry.s