Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-01-01
Real Estate Men Optimistic in Views for ~
PAST YEAR ROUGH ONE AS
IT WAS IN OTHER LINES
ii. X. Pollard, Jr., Believes
Mortgage Money Will
Be Cheaper.
HOMES MAKE pHrTEn CITIZENS
o. a. Inwkins Says Rirhmond Busi-
ness Men Took All Hi.ks involved
In Ip2I-Nc" Trnr Has prohicIns
Hut bright OnttnUk.

Hut bright Ontlnuk.
II. r. Pollard. Jr. president Of
Pollard Earhy. INCORPORATED. and
.. a. Hawkins. manager OF IN. real
estate department Of III. Richmond
Trust Company. ana formerly prcpi-
dent 81 tho Richmond Real Estate
Exchange. review III" past years
business ana the outlook for 1922 for
Tho Times Dispatch today.
Mr.. Pollard believes mortgage
money VIII be cheaper Ia 1922. which
VIII mean more homo building. ana
more homes mean better citizens
Mr. Hawkins sees obs,aclcs ahead
but believes they can be- overcome by
conservatism. and hc things 1922 Will
have is business advantages ana
even greater prosperity than the year
just ended.
Hy u. Il. Pollard. Jr-
President Of Pollard & Bagby Inc,
The past year IN tho real estate
buslncsa was pretty rough ~ Il was
In most other lines of business. but
wo feel very thankful II was no,
worse.
There was ono bright spot, how.
eYor: hundreds % homes havo been
bought by individuals on "a high mar
ket during the part three years on
very small cash payment. aud near
~ al OF uhem have been able u keep
up their payments.
Homes Make letter Citizens.
In my thirty years experience In
Inc reh! estate business have never
known a man. who after buying "A
nome. or oven u small !o,, who d,d
not become "a better and NOR, us.<uI
nitizen.
There Is nothing 30 Inspiring AS
20 Do land owner Last summer
wah down In Ki.g William COUNTY
ana met colored man whom hnI
known for long time. l asked him
who're no was going. aud Ia. said
ar. Pollard. am going up home
! ,heh asked where hts home was
ana he said, up tho road pbou, =,
mile. on ;he r!rh. hand s.d.. ! hsvo
bought about three acres" a.tcd
what KIND OF dwelling he had Un
said there was no dwelling on Tho
ihhd. but II was his home" Mi m.
BHnle.
am looking for very much better
business In 1922. .or feel I'M,
mortgage money IN going 20 H..
ohchpcr. This will mean hundreds
81 new dwellings, and development o,
r",,, p.'r.rty We are facing the
future with faith and courage.
Hy O. a. Hawkins,
hihhaser Real Estate Dcpartnont
Richmond Trust COMPANY
looking backward! Going for
ward! ~
Netrospcction IS Of value aa wc
rroht by the failure. or faul,a 40
hackward look discloscs. Somctlncs
'ne disclosures do not bring TO ligh,
any speciai faults that are personal
IN their application, and sometimes
IRE not "i II mature distinct!.
charTenhl" 20 the Individual I'M.
rhih"r because Of conditions and cir.
cninsthnc"s over which no singl. IN
diNinua' could have control Douh,
ieSs many OF this latter class vii,
nave 10 be recorded for the wear 1927
ana me fcw years preceding While
ictr"spcction may serve an excellent
purpose through The warnings araIps,
r"pe'i,i"n. II. Is The urge" that comes
WIN |looktiig forward" that is fruit
iul with hons. that lode star" with
OUT winch our efforts would he dull
ana cciorlcss. II not fraurht with
pun Arc tnerc encouraging prom
Uses ahead OF us surely, as We mon
tally picture tn. possibilities Of this
great country. even beyond those tho
actual vision witnesses, there must
come into our mind and conscience
70 turn aside. II not to bury, All az
the pcssimism 40 torturing To our
thought ana judgment in the reaction
from the agony. the hustle and tn.
scramble accompanying the war
period and Immediate aftermath.
Doubtless much OF the ucssimism
was caused by mistaken estimate OF
the cause FOR certain lines of action
ON the part of financial institutions.
..r-tt Holm
money freely for building enterprises.
and to facilitate trading in real cs-
thte. me fact was overlooked that
the successful marketing of the yast
amount or EoverniDcnt securities was
terrible strain upon these institu-
tons and that the burden of carry
Ing these SECURITIES was upon them
Tor from two TO three years, and at
n low rate OF interest
why building Was Slow.
In this connection IL must also bc
remembered there was enormous re-
duction In the volume In deposits dur
Ing 1920, and a part or 1921 The
people responsible for the expenditure
or disbursement of the moneys OF these
institutions also regarded the prices
OF material and labor as abnormaliy
high. ard had right to expect lower
costs. Tho wisdom OF their course
10 Couiiiich ny CplultiOHB To-Day,
when values. or costs on which to
base loans or to venture expenditures
are lower by from SO la per cent TO
40 per cent. That progressive de-
veloDmcnt has been retarded because
of proflteeriag In many lines. by high
freight rates. by tho high cost Of
building material md OF labor. by tho
low prices prevailing for farm prod
ucts, at the farm, and the burden OF
excessive taxation on property and
business. ia most patent. From these
retarding Influences we have promise
of. relief In reduced taxation by way
Of reduced governmental expenses in
! our national government; again, by
tho promised reduction in freight
rateo, insurinE freer movement OF
building material. fuel for our manu-
featuring enterprises. and reduction
In tho cost OF merchandise of nil
kinds. There Ia promise. too. In tho
fact that certain government securi-
ties have reached par in tho opcn
market, and that high class bonds
and other securities have materially
advanced In price during tho last
:, month or two.
We find also that our sister Eng
llsh speaking nation Is recovering
ut