The Washington times., 1934-02-15

C1GdIC y ~ - =
Richard Baker Estate Commis-
sion in the District and to pro-
tect the public against fraud, has
been sponsored by the real estate
board for nearly ten years and
its growing need has become more
apparent each year, 1t Is said.
Remedies Weak
In the past, the public has had
only the District Attorney and the
Better Business Bureau to protect
it against unscrupulous operators
Neither Of these aids has met
public requirements.
Action by the District Attor~
ney's office in the form OF prose"
cutions does not remedy frauds
after they have been committed.
and the Better Business Bureaus
efforts to warn the public through
the newspapers have proved only
partly successful in the face Of the
persuasive genius Of the smoothe-
tongued faker.
On License Plan
Under provisions Of the bill. q
real estate commission will be
created and persons will be issued
licenses to handle real estate only
after a thorough investigation Of
character and past record.
TWenty-seven S tates already
have similar laws, including Vir-
ginia. This will aid the local COM
mission in making it's inVestiga-
ton by enabling it to trace the
careers of applicants coming from
States where the law is in force.
No applicant whose license has
been refused in another State
will be permitted to conduct o
real estate business here.
Three on Board
The license fee for brokers win
be SIS annually and that for
statesmen will be SIS. Three per-
sons will constitute the commits.
sion-one will be the District Tax
Assessor, who will act without
additional pay, and the other two
will be paid not more than $4,000
annually.
During the last year, the Bet
ter Business Bureau investigated
214 complaints arising out Of real
estate transactions, the Senate
committee was told, and tho
Grand Juries initiate many prose-
cutions each year as a result oE
real estate frauds.
The most recent indictment re-
ported by the Grand Jury was
last November, when five men
were charged with conspiracy to
commit false pretenseS in con~
nection with the sale Of lots in
Anne Arundel county, Maryland.
Straw-Man Deeds
Passage Of the bill will el1n1b
nate the filing of fictitious trusts
and straw-man deeds, and such
q law would have gone far to
avert the crashes Of two real
estate investment houses here in
the last few years, its proponents
assert.
The bill will also operate to
restrain usurious practices on the
part Of second and third trust
money lenders and may extend
its restraining influences against
illegal foreclosures.
The District Of Columbia led
the entire country-with the eX-
ception Of Queens, the Bronx and
Brooklyn, N. Yin dwelling con-
struction during the month Of
December, 1898, according to COM
piled reports Of the Departments
Of Commerce Housing Division,
Just made public.
Thirty-nine families are accom-
modated in residential properties
costing $23S, 800 completed here
in December, the report shows.
Philadelphia-the "City Of
Homes"-only had four family
homes. Boston was second to the
District, with II family homes
costing $e1 900 and Newton, Mass,
third, with IL costing $4,000.
Queens, N. Y, led with 1873 family
homes costing $3,164,000; Brook
lyn second with SO costing
$27s, 500 and Bronx third with 81
costing $4,000.
Edgar D. Turner. who now
controls the Louis P. Shoemaker
firm, has gone native, so to
speak. In cold and rain he goes
each weekend to his place on
the Pohick Greek, down in Fair
fax county, to admire his swift
running stream and fine colonial
mantels.
Old-timers recall that Mr.. Shoe
maker, founder Of the firm, and
Albert Fox, now president Of the
Columbia National Bank, were
boon companions when both were
young men.
Although they never formed q
partnership In the real estate
business, both started in that
business on the same day in Q
little office In the 900 block Of
F st. N. W., which they rented
together. Mr.. Fox eventually took
took to banking and Mr.. Shoe
maker kept to his lots and houses
but the friendship lasted untf
thA latter'G death several yeRrR