Columbia University Libraries Digital Collections: The Real Estate Record

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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.