Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-05-04
JOHN, a. WILLIAMS


THE planning for the sesqui. Centennial
the immediate needs Of the exposition itself
in mind. according to John G. Williams,
president Of the Philadelphia Real Estate
Board. .....
"The coming Sesaui Centennial: with its
manifold activities" said Mr.. Williams
added to the normal activities Of the city,
which remain proportionately about the
same at all times. with due allowance, o.
course. for growth and development, Will
undoubtedly result in an immense amount OF
business in the real estate and ouildins
fields. The great question is how to retain
all Of this business which will come to the
city as the result Of the exposition: The
answer to this question will be according to
the manner in which the plans arc la'd.
Should BE Permanent Buildings
"If the buildings are planned in per.
manent way and constructed with some
definite use in view after the exposition has
closed. it seems to me that the city may
reasonably expect to gain some great ana
sa%s a nrGfs aspus the the fset that
expensive buildings, which are put up for
n temporary purpose and then little later
have to be scrapped, will not pay for them
selves in the relatively short time that the
fair will last But II they are 90 con.
structed that, after the close of the fair,
they may be used for some other and per-
manent purpose, they will not only pay tor
themselves, but the directors OF the cxposi.
tion will be justified in putting up more ex.
pensive and hence better buildings than II
such advance plans are not made.
"We should profit by the experience of
other exposition cities in the matter of the
buildings and the general handling of the
real estate questions which are certain to
arise with the approach Of 1926. The .ex-
perience Of all fair cities has not been alto
gether happy in some respects and we
should take lesson from what they have
been through and plan Inherently and as
far in advance as II Is safe to do so.
Many New Dwellings
Dwelling construction will attain normal
activity, in my opinion, with the return Of
confidence among the people that prices have
been stabilized, and ! am equally convinced
that present prices represent about the nor.
NAL level of the future and that home.
buyers can safely invest from this time on.
Concerning the suggestion that legisla-
tion he passed at the next session of tho
Legislature looking to a regulation of the
financial return on real estate, am firmly
OF the opinion, and It is the conviction OF
every other man who Is at all familiar with
the general situation. that such legislation
would retard rather than help. matters. This
legislation has been placed upon the statute
hooks. Taken ns a whole, present rents in
Philadelphia are on an equitable basis and
they represent only a fair return on the
value Of the property.
"The great body. of realtors and the prop
erty owners as well In this city do not ap-
nroye of excessive rent charges, but such
cases are comparatively few and Il would be
wnwise from every point Of view to pass
general legislation for the correction Of .
few cases.
The Experience Of Washington
"A recent illustration of what LEGISLATION
viii do in such cases IL the City OF Wash.
,n.ton. For the last two years that city has
hesn working under the hall Rent Act and
ths eject OF that law has been to retard
| bnil,ling construction Of the very class OF
| dweilinss that are most needed and which.
NTH A sufficient number Of them, would
| Automatically reduce rents. When proncrtv
owners become convinced that they viii not
get A fair return on their invested capitai
| they will sell their properties and nut fbe,r
money into other forms Of investment. nnd
| when this happens. construction is retar r1Ied
| greatly, n It does not cease altogether and
| those houses which are stlll for rent advance
4 very materially In the rentals.
''The whole matter of rentals, like ev.rv
| other commodity in the world, comes baci /.
The end 70 the question Of supply And N.
Il i9And. When thsre are more houses tSsn
21kero - oyeilAhle teaAnts, petcaS = AsWn
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