Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-12-19
BUILDING BOOM IN SPRING
TO REACH PRE-WAR MARK
Euiidil. Inspector Hutlcr Thinks
Conditions In Construction Work
Returning to Former Level.
NEW WORK ALREADY sGs. 1870
For First Fifteen Days OF Month
Repair Wo;k Authorized Figures
Up 10 S55,i31-.!ary Applica-
tions Arc Still Pending.

From what ! can learn through
conversations with contractors and
builders and architects" said Build
Ing inspector Butler yesterday. The
first Of the year. or carly IN the
spring. VIII find i resumption Of pre-
waT activities. Applications at this
time of year In normal times are
rot numerous This Is natural. for
little building can ho done during tn.
winter months Most o. tn. appIi-
cations now being received are for re-
pairs. witch are to he made 10 in
'eriors ana which cannot ~ in
tcrfcr"d Win by weather conditions
II anticipate an increased number
after the completion Of the ncw build
Ing code This document tx now In
the hands OF the Council, committee.
and VIII probably be law by :ho
time the spring season opens. There
are many important Ganvcs In tho
code. all Of which bring the ordinance
up 10 date and eliminate many Of
the antiQuaicd sections"
Permits Already Is.ucL.
Since the last statement OF III.
Building Inspector was issued on De-
ce'nScr /. there have been "A numh.r
OK applications ;lcd in the ONCE ~
the inspector. The new work amounts
To s69.iSo. and includes one franz.
dwelling. two brick stores. lively.
sheds. eleven brick garages. one pub
lie garage. making total Of twenty
seven permits for new work since
the first OF December.
Permits have been issued for re-
pairs TO ,hir:y-six buildings. at a
cost of s55.i3l. This number i'm
c!udes nine brick dwellings. eleven
frame dwellings,. four brick stores
four frame stores. five warehouses.
one thsater, one engine house.
The inspector has a number OF an
p!ica'ions under advisemen;. one Of
them iheater in old Jackson ward
several Of the permits are being held
up at request OF The applicants. who
are hes!tating about building because
or high prices
Favorable Compare son.
According 20 the figures so Ear OBJ
ta!nabic, the amount OF new work
for December Is already greater ihan
that for November. the total for las-
month being sii9a7. while that FOR
repairs during the same period is
5ust $4,000 lSss than the whole Of
last month. which vas SG9.i6i.
y number OF large real estate trans
actions in Richmond arc being held
mp because Of the operations of the
Fedora! excess profits tax, according
TO Colonel James J. Pollard. OF the
real estate firm of Pollard " Dagby.
The real estate interests OF the coun-
try have presented emergency relief
Legislation TO Congress and have Sc
cured favorable report from the
Ways and Means Committee, but ac-
tion has so far been blocked In the
present Congress
Tax of Or Per Cent.
MIR. Pollard cites the ease OF 4
man who bough, piece IF prop
eriy ten years ago for 500. 900.
He can sell 1t today for S2a0.-
600, but if he does so, he will be
charged excess profits tax on 500, 600.
This tax on profits up TO $4,000 is
only per cent. but the rate increases
with the amount. until the tax on
100000 would be e. per cent. In
stead of making 100000. the owner
would therefore net but $4,000 were
he 10 sell ut present. AS q matter Of
fact, the property has not enhanced
this much in value in the past year
and the pending bill would allow the
profits OF the transaction to be pro-
rated over the period of ownership.
and the tax charged accordingly. On
this basis II would I've assumed that
the property in question has en-
HANGED in value $4,000 each year
for ten years. and the tax for tho
current year would therefore he only
on a $4,000 value.
Housing situation.
Colonel Pollard said there had bc.r
little practical out "oine from the re-.
cent conferences between the bank.
crs and real estate men on the hous
Ing SITUATION, and no solution was p
yet in sight. AT the last conference
he spoke for the real estate inter
Continued on Fifth Page.)