404





RECORD   A

Mr. Edwards For Closer Co





(Continued from page 393)
tion, perhaps essential at first was faulty, for the reason that
it left out of the count ail these various interests that I have
referred to in the earlier part of this discourse.

"In 1913, the Real Estate Board of New York abandoned its
original plan of confining its membership to real estate brok¬
ers and admitted to membership other people interested in
real estate. Thus its membership today is inclusive of prac¬
tically all these interests, besides brokers, appraisers, auction¬
eers and mortgage brokers. It is inclusive of owners, builders,
contractors, architects, lawyers, engineers, bankers and brokers,
insurance companies, title companies or their representatives,
department stores, manufacturers, hotel owners and many other
interests; and these combined outnumber the brokers more
than two to one.

"There can be no question that this form of organization, in
which all the elements of the business are combined, is the
best form. For, when all is said and done the interests of all
are the same. Except in minor instances there are few forms
of public legislation or public expenditure which do not touch
them all to some extent. Where there is divergence, the con¬
sideration given to these public questions tends to a sane and
reasonable attitude, to the fair balancing of interests and to
healthy compromise  and  adjustments.

"This form of organization ensures the collecting of data, in
one place, for proper and expert consideration. It means the
concentration of effort. It brings unified action for the com¬
mon good. Such organization in brief comprises a board of
governors and directors selected by the members from all of
the classes of membership; a president and other officers; an
executive comniittee and numerous standing and special com¬
mittees charged with specific duties in the interests of each
group but, on the whole, working for the combined good of
the whole membership. There is no special interest to serve;
no political bias.

"It is not always possible to counteract official bias or bad
judgment, or to counteract public sentiment when this con¬
flicts with the best economic procedure. But is it not a fair
question :     If   the  budget   is  increasing  alarmingly,  and  if  in





N D    GUIDE                                                            April 1, 1922

-operation in Realty Circles

some other respects governmental or legislative lapses cause
us to worry, how much worse might these not be were it not
for the efforts of the organization whose workings I have brief¬
ly described?

"Organization of local real estate boards in large and small
communities is not all. Many states have state organizations
of local boards. Finally there is national organization. The
National Association of Real Estate Boards now comprises
more than 400 boards throughout the United States and Can¬
ada. It represents a total membership of about 16,000. At its
last convention, held in Chicago in June last, this great mem¬
bership was represented by a delegation of 4,300 from all
parts of this country and Canada. I have no doubt that an
equal or greater number will be present at the next convention
to be held in San Francisco from May 31 to June 3.

".\ great deal more could be said on this subject. I have
merely tried tcf outline the main reasons why real estate is
already organized and why it should be still more highly or¬
ganized. Let me emphasize the fact that the Real Estate Board
of New York is not, as some might assume, organized purely
for a selfish purpose. For this actual working out of this
broad consideration of subjects, all vital to the public, results
ultimately to the public benefit. And this is, as it should be,
an increasingly evident result of proper organization along
lines  such as I have described

"The benefits of organization to real estate cannot be too
highly emphasized. Lack of co-operation on the part of those
interested in providing houses for the masses and space for
commercial interests has resulted in legislation that, if per¬
mitted to continue, will drive the investor from the real estate
field and make it more difficult to secure that essential com¬
modity, a roof over one's head.

"Real estate in the past has been so poorly organized and
so lacking in this spirit of co-operation that the investor's
viewpoint is lost sight of, and unscrupulous landlords entering
the real estate field for the purpose of gouging the tenants
have received the greatest publicity and, naturally, the real
estate business is judged by the public from the publicity
it receives."





Real Estate Board Holds Its Second Monthly Dinner





(Continued from page 391)
rate' of five per cent, per annum, with the result that in thirty-
eight years from now the total will be paid by steady amortiza¬
tion and the investment will be safe and assured. It will mean
a tremendous saving and a resultant public benefit. Hence¬
forth, the public, by the power of law, is going to be let in on
rapid-transit operation. That is the ultimatum I announce to¬
night. A barometer fund, to be fully worked out, will save the
five-cent fare. Profitable rapid transit at that price is feasible
and possible."

Secretary Allen, of the Coal Consumers Association, said:
"So far as the Port of New York is concerned there should be
a marked reduction of the freight rate on coal and it should
be based on the cost per ton to transport. There should also
be a seasonal freight rate, as well as an improvement in the
quality of the coal delivered. There is no rate now that pro¬
vides for the delivery of coal into New York City. It is fixed
to the New Jersey shore, where the coal roads terminate. The
rate per ton varies for domestic sizes from $2.66 to the Jersey
shore to $7.00 to New England points. All of these rates are
twice as much as they should be. Fifty per cent, of the coal
that comes over the Delaware, Lackawanna & Western Rail¬
road is from six mines near together and there is low cost of
assembling it.    The rate  is outrageously high.

"The coal generally that comes into New York is low grade,
as compared with the coal sent to other centers. There is a
large volume of dust with it. And yet the Pennsylvania mines
are known to produce probably the best coal of all. Why does
this situation exist? Because the coal-buying public here has
never done anything remedial about it.

"Most  of  the  coal  that  comes   into  this   city  is  hauled   155





miles from the mines and over one mountain range. The
southern roads that supply other centers haul coal over two
mountain ranges to various long distance-points of tide water
at less than one-half the rate per ton paid by those who receive
coal on the New Jersey shore opposite New York. The West
'Virginia mines and the Ohio mines ship coal much further than
do the Lackawanna mines in Pennsylvania and at far less per
ton. Cleveland, Detroit, Chicago and Buffalo get coal at a
much lower freight rate than we do. Why is it New York is
singled out as the victim of profiteering? All of the great
industrial centers of the South get coal more cheaply than we
do. Coal is carried hundreds of miles to reach them and yet
they get it more cheaply than we do. If New York paid forty
cents a mile per ton it would be paying well for al! the coal
it receives. There is no such reasonable rate in sight, however.
"There is one real and effective way that the cost of coal
transportation to the New Jersey shore and to New York can
be greatly cheapened to every consumer, large and small. That
is to fight the system which makes these excessive charges
before the Interstate Commerce Commission. It would cost
probably $100,000 and it would take time and patience, but it
could be done successfully. What is $100,000 in legal expenses
when distributed over millions of tons of coal pro rata? When
you large property-owners and consumers of coal decide to
do this you will pave the way for relief and not before."





The National Fire Protection Association has just issued a
bulletin stating that the fire loss in the United States for 1921
exceeded that of any previous year. While final figures are
not available, the total will be $500,000,000.