licensed real-estate
brokers and salesmen in the state. The first copy was published October
1, 1917, and contained about four thousand names, as well as other
material such as maps, laws, and legal opinions, designed to be of
practical value to all realtors. It was intended that this directory be
issued quarterly and be distributed to licensed brokers, with a
subscription price to others of one dollar a year. The commissioner
regarded this directory bulletin which bound together in fraternalism
the real-estate men of the state, as only one of the many possibilities
of extending valuable aids through his department to the real-estate
profession, and so indirectly to the agricultural industry.

Although there have been attempts in other states to secure legislation,
so far they have been unsuccessful. In essentials they have resembled
the California law, although differing in details, such as amounts of
bonds, fees, and penalties. In Minnesota, several years ago, the State
Immigration Commission was instrumental in introducing a land-regulation
bill which was killed by the efforts of the land dealers.

In 1914 the Executive Committee of the Real Estate Association of New
York submitted for the consideration of the association a bill for the
licensing of real-estate brokers and the creation of a real-estate
commission. In 1916 a bill similar to this one was introduced in the
legislature of the state of New York, but failed of passage. In Texas a
bill was approved by the Texas Realty Association, but was not enacted
into law. In addition to efforts for legislation in the states there
have been national recommendations.

The Committee on State Legislation of the National Association of Real
Estate Exchanges in 1913 reported on a bill for the regulation of the
real-estate business. The main provisions are as follows:

A State Board on Real Estate Licenses shall be established, consisting of
five members, all real-estate men, appointed by the Governor, and having
its headquarters in the state capitol. Every person engaged in the
real-estate business shall apply for a license to the board. The applicant
shall present proof that his standing is above reproach and that his record
for honesty and fair dealing is clear. The applicant shall file a
satisfactory bond in the amount of $1,000, conditioned on the faithful
performance of any undertaking as a real-estate broker, the bond to be
renewed with each renewal of the annual l