The New York herald., 1921-10-16
CONVENTION ADOPTS
MANY RESOLUTIONS
State Realtors IndOrse Several
Suggestions Offered by
Samuel Untermyer.

AT the eighteenth annual convention OF
the New York State Association of Real
Estate Boards, held recently In Syracuse
the following officers were elected !:
President, II. III. Garfield of Rochester
vice presidents, Albert L. Kinsey of Buff
falo, for the Buffalo district; #. L.
Brownlee of Geneva. for the Rochester
district; Raymond Il. Porter OF Syra-
cuse, for the Syracuse district; DeLan-
cey NJ Ellis of Albany, for the Utica
Albany district, and ]. w. Doolittle or
Long Island, for the New York district
secretary. Frank NJ. Colwell of Auburn.
and treasurer. Charles A. Miller of
Utica. Meade G. Dobson. executive sec
retary OF the State association, was con-
tinued In office. with headquarters in
Rochester.
More than 500 brokers were in attend
ance at the convention from every sec
ton of the State. Twenty-Five local
realty boards from the principal cities In
the State We're represented by special
delegates. Important resolutions were
adopted at the convention. among them
several affecting the housing situation In
the nation and in the State.
The housing resolutions are substan-
TALLY as follows:
That the Legislature pass bills to COM
pei fire and life insurance companies and
any other institutions holding public or
trust funds to invest an adequate per-
centage of such funds in bonds or mort
cages for real estate.
Recommend National Measures.
That loans on improved real estate
may now safely be made on the basis
of present building costs, leaving the
nf f,Yf,r or in OF 70 ha tcl.
care of by reasonable amortization
plan.
That national measures to relieve the
housing crisis be taken as follows:
First, by legislation to authorize invest
ment Of savings funds on deposit In ma
tional banks In first mortgage loans se-
sured by real estate; second, by reduc-
ton of freight rates on building ma
terials third. by legislation to compel
the investment of an adequate per-
centage Of assets of fire and life insur-
ance companies in real estate mortgages;
fourth. by legislation which will permit
national banks to lend money on real
estate to at least an amount equal to
the capital and surplus Of such institu-
tions.
These resolutions were in line with an
address made before the convention by
Samuel Untemyer, counsel for the Lock-
wood committee, who pointed out the
seriousness of the housing situation and
made suggestions for it's correction.
One resolution urged that the brokers'
license bill to be introduced in the n -xt
Legislature by the association should ap-
ply to the whole State and not be re-
stricted to first class and second class
cities. Such bill was vetoed last spring
by Gov. Miller. The resolution provides
also that petitions be circulated among
property owners interested In maintain
ing high standard of conduct in the
real estate profession to secure their
support for the bill. The bill Is designed
to prevent irresponsible and unfair real
estate operators from placing the busi-
ness In disrepute and to protect the
public.
Sales Tax of 1 Per Cent. Urged.
Other resolutions adopted were as fol-
lows
Favoring a sales tax Of / per cent.
on all sales of merchandise in excess
of 5000 annually.
Favoring an amendment to the Fed
eral Constitution against tax exemption
for securities and adding but while
such exemptions exist we believe mort
cages should have some exemption
Urging amendment Of the present rent
laws SO as to provide fair and readily
ineligible rules for the just and prompt
determination of what Is a reasonable
rent so that the uncertainty and in
tolerable conditions in the courts may
be reduced to O. minimum.
Asking the National Association OF
Real Estate Boards to reconsider it's
action in indorsing the st. Lawrence