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About Omaha daily bee. (Omaha [Neb.]) 187?-1922 | View Entire Issue (July 2, 1893)
THE OMAHA DAILY BEE : SUNDAY , ! .JULY 2 , 1803H5IXTEEN PAGES. lf prescntutivo Mon in thd Movement in Oongrosa AssomblcJ , PLANS AND POLICIES ABLY DISCUSSED ftlnrvoloun Grtmlli of Ilullillnc-l.onn Ai- oolatloni , the Variant Bfulmni In Vogue nnd tlio Ilenellt * Accruing Htnto SuperrUlon Urcod , The first national and Intornntlnal eon- grcssof representatives of local building- loan associations was held In Chicago last week , fifteen states wore represented by del- CRfttlons from state leagues nnd several rep resentatives were proscnt from abroad. The Nebraska State league was not represented onicially , but Messrs. G. M. Nattlmtor nnd Elmer Ii Ur.yson of 'Omaha attended the nicotines for the purpose ot gleaning now Ideas from the older nnd moro experienced nnsoclation mon. They report the Joint Congress a auccoss both In attendance and enthusiasm , and nrc conildcnt that its de liberations an ; ! notion will have n beneficial effect and result In harmony of action on matters affecting building-loan co-operntlon. Tlio United States league and the World's * COngrcss were practically ono body , except that In the latter foreign associations were represented , Judge Seymour Dexter of 131- tnlra , N Y. , presided ever the deliberations of both. 1'ho papers road and the discussions cov ered every phase of the building-loan move ment , and represented the experience nnd ripest thought of moii who have dovotcd V 'yours ' to the study of this form of cooperation - ' tion and Its practical operation. It in Impossible in the apace available to 'clvo ' a generous summary of thu procccd- "lugs. A brief rovlow of the principal pointy epitomizes the trend of opinions expressed at both gatherings. rntriutlc Movement. In his opening address President Dexter Vovlowed the birth nnd development of build ing-loon associations , nnd emphasized the fact\liat they have made Philadelphia the city of homos. From Us birth in 1831 until now the movement has been ono prc-cml- \ iently stimulating the spirit of homo own- V ing and homo getting. No form of direct co-operation among the many which have sprung into existence hus been so uniformly successful throughout the whole period of Us development. If ho lr were to choose n motto to hang In the mcot- dnit room of every association , to bo hung In the hall of every state or United fatntcs Icaguo meeting , to bo printed In every asso ciation pass book , upon every copy of articles of association und by-laws distributed , upon every certificate of shares of stock Issued , upon every sheet of advertising matter , it vrould.be this : * THE AJinniOAN HOME TUG ' ' In the last decade < Tlio country's growth , the economic conditions induced by steam and electricity , the tendency to centraliza tion in cities , wore reviewed by the speaker , and from thenvwcro drawn the lesson that health and prosperity wore endangered by the massing- population. The develop- .uicnt of rapid transit is a modern safety Valve , nnd-coupled with co-oporativo homeBuilding Building , enables the worldngman to go into the suburbs , whore land may bo had ut a reasonable price nnd homes erected at rea sonable cost. There ho can rear his family in ptiro air , have a grassi plot In his front .yard , with Us ilowor bcfls nnd shrubbery 3'hcro ho can-havo a homo ; there ho can enjoy true family life and comfort nnd BOO Ills children away from the din , the dirt , the if cones and foul , influences of the busy mart. ' ' statistics. Until ycry recently little attention "boon given to the statistic side of the build- Ing-loan movement by the national govern ment. The data collected by different states were fragmentary in character and conveyed tie adequate idea of the advance of asspclui ( tlons. To remedy this Carroll D.Vright , superintendent of the United States De partment of Labor , undertook to collect statistics concerning homo associations , nnd jirosontcd the result In n paper read be- tforo the congress. Mr. Wright explained that the department was conducting an ox- Jiaustivo Investigation on the subject , but iho final report would not bo presented bo- Joro next year. From the Incomplete reports it was shown that at the close of 1802 there were fi.BGO associations in the United States with 1,050,450 shareholders and not assets pf $300,4)28,405. ) Pennsylvania heads the list with 1,100 societies , 254,018 shareholders and r.ot assets of $80,800,070. Ohio is second , with 723 associations , 227,535 shareholders nnd f > ' , ) ,204,820 not assets. Illinois ranks third , wltu 518 societies , 140.571 shareholders ( And $55,831,838 net assets ; Indiana lias I150 iHSocUtloni , 00,157 shareholders and 31- \100,550 assets ; lo.va , 100 associations , 80,805 3haroholdors , $ 'JU4U,310assets ; Missouri , 418 associations , 74,020 shareholders , $35,440,429 assets ; Michigan , 09 associations , 27,008 shareholders and $3,305,207 assets ; Wiscon sin , 07 associations , 18,928 shareholders and 33,100,033 not assets ; Nebraska , 71 associations , 45,012 f shares in force nnd assets amounting to $2,003,557. Connecticut , Now Hampshire and llhodo Inland nro at the foot of iho list. At k the present growth Mr. Wright said those -associations would soon rival the savings * Tinuks both as to deposits and depositors. At the end of Juno , 189. ! . there were 1,059 sav ings banks in the country , with 4,433,317 de positors and $1,718,700,817 In deposits. Mr. Wright's figures were shown .by several flcleiriitoa to bo very conservative. In Phila delphia ulono the accumulations in twelve yours ranged from $500,000,000 to $700,000,000. The assets of Ohio associations amounted to $70,000,000 instead of JSO.OOO.OOO nnd the figures for Indiana were short § 0,000,000. , uivuion or : George P. Ponfiold of Illinois presented a paper on "What is the True Basis for the llvlslon of Profits und the Best Methods to lie Pursued in Making the Division ! " 'llic first nnd most important thing to bo observed is to divldepo moro prolits than were earned. Cure must bo taken to charge off all expenses and losses. , nnd to sot aside as a liability all unearned premiums. Mliese important fea tures wore sonujjlmes ignored by secre taries nnd lend to embarrassment if con tinued long In prac'lco. H should bo asalnst thu law , pf ovtry state for associations to pay out prollts not strlctJy earned , nnd ton prescribed formula for ascertaining earnings should tut Ii corpomtcd in the law. There should also bo sot nsldo as a liability all ron tercst paid in ndvanco by borrowers , all our nod interest for which the association may bo liable on account of borrowed money nnd finally there should bo maintained a ro B rye ( und oquul to nil the Probable or possl bio losios by reason of real estate on hand Mr. Pmillold argued in favor of a grnd uatcd dividend scula on withdrawal U whorohy stock , say less than 3 years old shall receive luck ull Installments puid , uiu 4 per cent on sumo for the average time in vested ; stock 3 yours old , 0 per cent ; 1 yean old , 7 per cent ; 5 years old , 8 per centetc ; This.leaves the association a margin to pro vldo fur ixmlblo losses , und ut the sunu time Teen not make ( withdrawing member : fool ns though they had been unfairly do.ili with , For the division of profits , tw methods were available the partncrshlj nnd the compound Interest plans. The firs is thus explained ; Multiply Installment > ( duos counted full 1'aid ) by the average tlmi > invested , add results for product of results Multiply ouch result by the total gain is.co organization and dlvldo in each cuso by product of result * . The quotients will bo ' < eazh series' gain. Divide each series1 gull liy the number of shares In that aorlos t Jlud the gain per share. This has in it ho appearance of equity. fjy compounding , the method Is ; Profit shall ho distributed In the form of a dlvldcui added to the value of each shuro outstandln , whlcn has not matured. The dividend thu nddixl to each aha re shall bear the mo kiitu of pcrccntai'd to the value of the ire that ttiu total not profits to uo distribute : tiear to the total vuluo of nil thu shares t vrblch tbcilUtubutlon is made. For htmpla Uulei. I Mr , Puntluld'9 ' paper was nupplomento jritU ouo on the tame subject from Mr , J , 1 Morgan of Indians , In which the following rules were commended : Thd first division is to sot nsldo a small percentage for contingent losses. Then the not profits should bo divided pro rata among all shares so that each dollar will earn the Hiimo rate per cent for the same time In vested. As a slmplo equitable rule which may bo applied to any association the follow ing Is submitted. 1. To find the not profits : From the gross profits earned during the term deduct all expenses for the term ; deduct - duct Interest on borrowed money , If nny ; de duct interest on special deposits. If nny ; deduct - duct Interest on paid up stock , If nny. The remainder will bo the not profits for the term. Deduct the percentage for contingent losses , If the association provides such a fund , and divide the remainder pro rata among nil the shares. 2. To find the capital Invested for the term : Find the value ( by the last report ) of all the shares still in force ; add ono-hnlf of the amount of current dues on all shares. 3. To find the rate per cent of gain : Divide tlio not earnings by the amount In vested. 4. To find th3 value of a share : To the value nt last report add profit on same at rate per cent earned ; add due * for the term nnd profit on dues nt one-half the rate per cent earned. From this one may easily find thn value of n series nnd the value of all series , or the total capital stock. Stnto Snpervlilon. The congress was n unit In favor of state regulation and supervision. Supervision must bo thorough or It Is worse than none at all. Examinations should not bo made simply when called for , but should bo - positive tive nnd compulsory nt least once nycar. Sound institutions rourt it , the dishonest nlono fear it. The necessity and advantages of state supervision was ably sot forth by Mr. C. Ii. Hall of the banking department of the state of New York. Whllo ho did not believe that supervision could wholly prevent - vent fraud , there is no oxouso for not preventing as much as wo can. To that end ho urged the "need of competent , thorough examination of nil 11- nnnclul institutions under the authority of the state , whence those Institutions got their tiowor , Inclusive of building und loan asso ciations. "Thut supervision to bo satisfactory -must provo liabilities as well as assets , it being as necessary to know the amount of duo and accruing dents ns the value of assets. "That no clerk or employe in the financial institution should bo allowed to keep a check account In It. "That the transaction known ns the 'rob bing of Peter to pay Paul' being so apt to stop after the mulcting or Peter , all bond schemes sailing under whatever banner of fraternity , should bo proved by their results : and"That "That no institution , under whatever name , by whomever conducted , Is entitled to continence that depends upon paying the ob ligations of ono member or sot of members from the contributions of another ; "And that no supervision nt all is better than incomplete and incapable supervision. " LocuI nnil Kutloiml. Judge A. A. Winters of Ohio gave nn in teresting review of the growth , methods , failures and dangers of the so-called na tional building and loan associations , lie recapitulated the well known nnd apparently overwhelming reasons why well informed building association people looked upon the "nationals" with so much dlshko and fear. The parent of the national schoiics operated In Cincinnati with ustounding audacity and ingenuity and robbed right and loft. Nearly all the other "nationals" were pat terned and conducted on the same general plan. Judge Winters claimed that the economic obstacles to the suc cessful conduct of a national associa tion were Insurmountable. Ills views were forcibly seconded by Judge W. T. Duumoro of Utioa , N. Y. , in a paper on "Tho Princi ples , Possibilities and Limitations of Build ing , and. , Loan Associations. " Hoforring to the 'national ! ' nnd "local" systems ho said : "Tho building and loan association is a cooperative - ' operative association , nnd from its vary nature its membership should bo confined to i pcrspna lyinjf Jn o.no 'neighborhood. Th'o ' best' results cannot bo attained unless a , _ -great part of the management is .gratuitous and done as an act of bonovolonce.-Tho main source of prbfit must "bo received for the use of money loaned. The members should live so near that they can see upon what se curity thoir.'money Is loaned. They should bo personally'acquaintod with tno officers anil familiar with their business judgment. The Investments should bo made In the Im mediate neighborhood where th'o Investors live. They can then see upon what security their money Is Invested. Loans made at a distance must necessarily bo made nt a grout expense to insure safety and besides uro subject to many hazards. Tuoso at the head of the movement today are charged with an important duty. These who would see this system preserved and continue on in an ever increasing ratio of success must make n constant , earnest and porslstout fight for safe methods and honest practices. " Premium 1'lnn. The premium plan of loaning money as generally understood had no advocate in the cnntrrcss. The injustice of the premium was the text for u vigorous address by Mr. Charles 1C Clarke of San Frunclsco. The premium system , ho said , when not properly safeguarded , is oppressive to the -needy. Uorrowers , driven by necessity , bid too high In order to secure priority and soon find themselves paying usurious interest. Mr. Claruo sold the tendency wus toward a hot- tcr system in the management of premiums. How to administer the affairs of building associations in such a way as to secure al ways to the members the benefit of the equalized tendencies of co-operation is a problem for each association to solve. Judge Dunmoro of Now York said ho would like to see the premium abolished , because - cause It led to abuses by men masquerading in the no.no of building and loan associa tions and also by some building nnd loan men. With the premium abolished they could determine who should have priority by the rate of interest. If thpy were to have the premium system they should ngroo on a form least liable to abuse. Judtro Royce and Mr. Huffman were aUd in favor of the abolition ot the premium plan. Chairman Dexter remarked tbat a pre mium had no place in his conception of a building und loan association' CJcept as de termining the right of priority of loan. Fundamentally , it did not belong to It , was not an essential part in It , ana had no place In it except when two or moro shareholders , equally entitled to borrow money , wanted to borrow the funds at the same timo. The premium had boon used to bring building nnd loan associations Into disgrace ; it wus the principle which underlaid und made pos . sible the national building and loan associa tion scheme , and on the other hand it had also stimulated the spread and growth of - local Institutions. Thn gross plan adjusted - a great many questions thut arose. What ever premium wus paid was ended when the mortgage wus made and the mun .com menced to pay his loan. Ho advocated the elimination of premiums out of the system. They should put and hold Interest nt legal rates , and then lot the only premium arise - out of the contest for the money. I'oruimient . n Orajanlrmlon. , , A permanent organization of thn Uultod - States League ot Local Loan and Building - associations was effected nnd n constitution . adopted , The membership fee was fixed at - $1 a year for every association , in the vari I- ous state leagues. Annual conventions will { bo held , Buffalo was chosen for the next. The resolutions adopted provide that - worklngmen everywhere bo warned atjulnst financial schemes of ull kinds promising re . turns for Investments far In excess of the - Icgul rate of Interest in the various states ; that the United States league und the vari ous state leagues endorse state supervision of building nnd loan association * and do all , in their iXwer to have laws passed with that end In view ; ' .hat it is the sense of the league that institutions masquerading as ; building associations under the nnnio of na tional building associations are unworthy aof . confidence ) nnd the people should bo warned ugainst them ; that withdrawing member ; should never rocelvo less money than the > have paid Into any association , less any Hue. that may bo Imposed , to Fireworks , Courtland boaoh , July 4th NebrasUum nt th World' * Fair , Upon inquiry wn find nro making their head quarters at the Purk Guto hotel , situated at tno i-ornor of Sixty-third and Stony Islam avenue , ounoslto the main entrance to tin fulr grounds. H Is har.dsomoand commodlou : cd (323 ( rooms ) und contains all modern improve to ments Kuropeun und American plan. IJate , S1.5U per day nnd up. Would udrUo our in tending visitors to engage rooms ut ouco. * lull. U. J Courtlaud beach , fireworks on the 4th KNIGHTS OF LABOR TRIAL Slight Discord Among Members of an As sembly and Its Result. "WILL HEAR BOTH SIDES , THEN DECIDE" Ileforo the Tribunal of tli Orjrnnlrntlon Sinter And Itrother Appeal to HnvnTlielr Differences Amicably AiXlumoil llon- ornl Interest In the Case , There nro federal , state nnd municipal courts dispensing Justice almost dolly , with out attracting much attention nt times , but when n secret society convenes for the trial of follow or sister members , It Invariably arouses nil Interests and the factions repre senting opposing sides discuss the contro- vorsoy whenever opportunity presents Itself and no uninitiated car Is present. This is now thocaso In two local nise 'H ? " , , V"'ght3 of Labor , No. 5,141 nnd No. 718 , the latter , being 1 composed of working women. . It seems that for some time Brother Jesse BlaKe of 5,141 hai promulgated what Slstor Jones of 719 considers slanderous stories about herself. Accusations have boon flung ] back and forth until tlio patience of the female . nnd became exhausted nnd rocoursb was had to the assembly. The Issues l.i the case , will bo presented pro and con , precisely like ; 11 regulnrly instituted trial in any court by ] defenders and prosecutors nt Knights of Labor hall tonight { oven the steno grapher ' will not bo missing , so that in cnso one or the other of the parties to the case should find serious objections to the findings of the court an appeal to n higher constituted tribunal maybe bo taken where the testimony cnn bo sub mitted In black and white. On this occasion Brother H. Cohen , ns hnad of nil the Knights of Labor organizations of Omaha and vicinity , will lay nsldo the mantle of "disinterestedness" nnd his oniclnl title , temporarily , to assume the role of assembly prosecutor , with A. TTawknor as his nsslst- ant , while Jesse Blako's side will bo looked niter and vigorously defended by D. Clem Doavcr , the well known labor loader. Several Surprint ) ! in Store. It Is whispered that the latter has several surprises in fitoro for his opponents. The udlclal functions will bo exorcised by William Erdman nnd ho promises to wear the judi cial habiliments with becoming , grace nnd dignity , sending the sharpened arrow straight homo in conformity with the Knights' laws , rules and regulations , such us nrc known to hltn. It Is hinted that the master workman has for the past few days been industriously working on his opening address , which promises to surpass anything over heard of on like occasions in the hall. The outline of it was given to a BEE reporter yesterday. After divesting himself of all surplus clothIng - Ing in order "to bo equal to the occasion and to fan what little night breeze will bo allowed to enter thochan.bor of secrosy , and after maklnc his obodlonco to the court he will proceed in a manner that will make his opponents wish that they had never heard of this "defamation ot character" case. The charges against the culprit Blake will bo ro- itcr.Ucd , nnd the court duly Informed of the serious nature of the case as sot out in two counts. Then will follow what it is expected to prove by the witnesses on his side. At the last a scorching arraignment .will almost an nihilate the defendant. Of course things will bo looked upon ex actly from the reverse side when Mr. Dcavor arises to smash the prosecuting wit ness and Mr. Cohen right nnd loft ; nothing , it is expected , will bo left of the fabric manufactured by the opposition , but of course the latter will have another inning when the assistant counsel arises to again show the abuses heaped upon the head of his client. After hearing all the evidence given duo deliberation to the matter and looking up authority nnd laws.provlding for just : such cases the court will gravely announce its de cision , which in any event must prove disas trously to either one or the other of tbo parties and seriously interfere with their remaining any longer in the Knights of Labor. , Some of the delegates to the State Labor congress , which will convene at Lincoln to morrow , will leave Omaha this afternoon , while some of those interested In the Jones-Blake case will bo unable to depart for Lincoln until tomorrow morning. Knights of Labor Working Girls as sembly 8,033 elected the following ofll- cers at last night's mooting : Miss J. M. Hlloy , master workman ; Mrs. W. A. J. Goodln , worthy foreman : Mrs. Mary L. Smith , past master workman ; Miss Iloso Worthy , recording secretary ; Miss Mamie Lane , financial secretary ; Miss Mary Fred- orickson , treasurer ; Mrs. J.'M. Kennoy.stat- Istician ; Mrs. C. Polonsky , almoner ; Mrs. J , M. Kenney , delegate to the district assem bly. Working Women's assembly No. 718 , Knights of Labor , hold its annual election of ofllcors last night. Mrs. Fltoh , master work man ; Mrs. Qriffoy , worthy foreman ; Mrs. Manning , secretary ; Mr . Soaholts , treas urer , and Mrs. Musser for almoner wore de ' clared elected. Balloon ascension nnd parachute jump this afternoon at Courtland Boaulu OF INTERESTED' GERMANS. Delegate Ilaumor Toll * of the Clilcnco Con- voutlon Other Notes anil Uoailp. John Baumor is the only ono of the dele gates to the convention of the Platldcutscho Central Ycroln of North America who has returned from Chicago. Ho reports a good attendance at the convention and on'tho oc casion of the dedication of the Uoutor menu- meat in Humboldt park , Chicago , hist Tues day. There were none who would not show reverence by their presence for Germany's greatest low German poet. The constitution of the Central voroin was somewhat changed. Lifo Insurance In the organisation was raado voluntary Instead of obligatory ns heretofore. Mr. J , P. Lund of Omaha was ro-oloutcd treasurer of the asso ciation for another two years term.Jat the ex piration ot which the national convention will bo hold nt Avocn , la. Instructor Emil Watzonborn of the Omaha Turnvoroln desires all those who Intend to visit the national gymnastic tournament at Milwaukee nnd the subsequent turner con test on the World's fair grounds , to notify him of their going as soon as posslolo , as arrangements have been perfected whereby an excursion train has been put nt the dis posal of the voroin in case n aufllclcnt num ber of people signify their Intention to go. The attendance at the German. Women's Aid soctotv picnio In Tlotz p.irk last Sunday fully reached the expectations of the mom * borsof that benevolent organization. The affair was given on the occasion of the flrst anniversary and to enable the society to continue In the good work done by the Gorman ladies of Omaha in rendering assist ance to unfortunate countrywomen in times of need and borc.ivoniont. Ono year ago the society was started with only six members. Today it numbers thirty- live. A ladles' singing class in charge of Prof , Peterson nnd composed of sixteen young ladies , has also been added. The Holla corps is its name , with Mrs. Damon as piosldent , und Mrs. Schneider as financial secretary , Tlio arrangement committee for the picnlo consisted iof Mrs. Lloborknecht , Mrs. illut and Mrs. Kolm. The Omaha SaouKorbund and tbo Holla corps , by the rendition of favorlto sones , contributed largely toward the entertain ment of : those present. : - The unusual spectacle of a contest for prizes on the ten inn alloys by members ot the fair sex aroused n great deal of interest aii'l curiosity among the husbands , brothers nnd admirers of the contestants , of which Mrs. Kolm carried off llrst prize ; a beautiful fun. fun.Tho Omaha Liedorkronz , has arranged to . glvu n basket picnic today at Syndicate park , An entertaining time is promised. ' Balloon ascension und parachute juraj : this afternoon at Courtlunu Boauh , Y. 91. C. A. Notes. - The iriombers of the Young Men's Chris isa ttau association are anxious to secure a piano for their rooms , and would bo glad tone < secure ono for tbo summer from some om . who Intends to store it , Tboy would bo glut to hear from any one who"would bo willing to lot thorn hnvo the use0t n piano for n time under such clreumstAnnrt , and will on to takn proper care of lfe/ir The devotional mooting * Sunday after noons will not bo hold during the months of July nnd August , nor will Aheirooms bo open during the ovoiiing untH fAll , when the classes will bo organized nnd regular work begun. The rooms are very cool AtyJ , pleasant rtur- Ing the hont of midday'and manyhnvo availed themselves oftho'l , > Hvllegos offered , nnd it is hoped many inoro > i * lll follow the example. , , i On tho-Hh , fire works Sourtlnml boaeh. t UK PLANS FOB Commercial Club 1'ropnrltiif to Foster Umnlm's 11ti lno § lnt rottn In ( Jcnrrul. The Commercial club Isnowfullyorgaulred nnd ready to sot out vigorously to accomplish the piirX | > ae3 for which It Is In oxlstonco. It now lias between 500 and GOO members and efforts will bo energetically directed next week to increasing thU number Jo 2,000 , ns that Is what the executive committee has concluded there ought to bo for the successful operation of the club nnd no stone will bo loft unturned until they are secured. It is desired to have every live , cnorgetlo and jl'xigressuo busl- ncss'man In the city on the membership roll In order that unanimous action ot the vari ous business interests may bo had , Including thoTnrlous professions as well. The sooner applications are sent in nnd these now mem bers enrolled the sooner thd club will have the desired numerical strength and increased financial ability to carry out Its plans. A meeting of the executive committee was hold yesterday afternoon , nt which plnns were perfected to bring the business men of the stnto into the city twice a your , spring and fall. It was flrat brought up by Chairman Gibbon , of the executive com mittee , who has been working to put It in operation for some timo. It was llrst suggested that the proper pbtn would bo to bring the business mon all in hero in a body on some occasion , but it was later decided that it would bo preferable to adopt n differ ent course , ono that would extend the time so ns to give the outside business men more latitude in the way of regulating their move ments In connection with the visit. It was hold that If n certain time was sot It would certainly find several hundred of the coun try merchants who could not coma just at that timo. and the plan would therefore bo unsuccessful to that extent at least. It is now proposed to oroAto a fund , to bo malnTalnod by the jobbers , to bo used solely for the purchasing of transportation to DO given to business men out through the state to bring thorn to Omaha in the spring and fall. The time will bo extended over the months of March nnd April in the spring and September and October in the fall , and ttio traveling men will bo ox- vccted to furnish to their houses the names of such as Would probably come in case transportation was furnished. The merchant will then bo corresponded with , nnd if ho cares to come to Omaha In response to such nn Invitation from the Commercial club , ho will bo provided with transporta tion , both to bring him horn and take him homo again. Whllo hero , it is needless to say that ho will bo looked after by the busi ness men. . " _ It is stated that there nrd many business men in the ma to who solqiyilpr never coino to Omahafond that many orftioni buy goods olsouhcro. Tills the club tepposcs to stop , if such ii thing is possible , jls it is main tained that Nebraska whol6sdlcrs are able lo furnish the Nebraska rotallitrado and ought to have the opportunity.Tjiny are satis fied that they will bo.glvon.ijha opportunity if they can get the merchants of the state hero to see what They hivo. U > sell and they do not see bow the retailer from ou'sido can refuse himsolt a little vacation and rocrca- tion without expense to .himself'in ' accept' ' igan invitation of this kHrfff . Another plan thafttio. . committee has under considoratlou'is" thhtM'running out a special train ovcr\lht > Missouri- Pacific as seen us the now rates'go 'lufo.effect'putting , on five or six eoathos nnd.'nkotjr.ns } ] far as. Fall * City , ' and-taking nlSfe ihofb\iinksV. ; men of this city/to ttfo number ofSOff.or-4UO. Short stops of from fifteen minutes to half nn hour or even longer would bo nmdo at various towns cnrouto to giro the Otnalians a.'chani.'d to moot some of their follow business mon in the territory that is now worked hard by Kansas City and St. . Joe at the expense of Omaha. The Commercial clubjntonds to put a stop to certain parts of the existing order of things , and while no revolutions are in tended , it has been decreed that Omaha must henceforth have the best end of it when In competition with cities outside the stato. WATER FOB DUNDEE PLACE. I'lans for the Discontinuance of the Supply Upset by an Injunction. People who reside in Dundee place are somewhat perplexed over , .the determination of the American Water Works company , through the receiver , Mr. E. Hyde Ilust , to shut off the water from that part of the city. A notlco was served upon the residents of Dundco who use city water several days ago stating that Inasmuch as the Patrick Land company and other parties who had prom ised to pay certain sums if the water mains were extended to that addition had not paid , and that the revenue , derived from the sale of water to a fow'famlties did not pay the expense of operating that part of the plant , it had bcoa decided to shut oft the water. Some of the citizens of Duudoo took this ns a hugo bluff for several weeks and paid but little attention to It , but during the last week when they appeared at the water works ofllco to pay their semi-annual water rent they were convinced that it was a serious proposition that the company had under consideration , because their money was refusojl and tney wpro told that the aqua , pura Svould cease ao How through the Dundee ; malns on tho. 1st of July. Tlio prospect of having their supply of cold water shut off with the heat of summer just coming : on was enough to arouse a good dealof anxli oty , and after a hurried consulta tion between a dozen of the prominent resi dents of Dundee they decided to begin action in the federal court luhtnntcr to prevent the carrying out of the throat made by the corn- pa nv , The suit was brought by Sylvester H. Hush , Charles A. Goss , George Jeffery , W. L. Selby , Nelson N. Tunnicllff , C. W. Edgerton , F. H. Woodbrldge , Daniel L. Johnson , Hobort W. Patrick and"a half n score more. They sot forth In their petition that they nro residents of Dundee-and tlmt the Dundee addition Is a part of the city of Oiimlui. They further state that they have always paid their water.juts as assessed by the water works comp.uw nd uro willing toconpnuo the same If .flip company will continue- furnish thcMViUcr. They oTso sot forth the numerous hprd\ilps | { and incon veniences that would bo iQfrred by thorn were the water works cqmii uy to shut off the water supply and pray4iwcourt to grant an injunction prohibiting . } ) ) } ) - receiver from taking any such action uni.duch | time at least as the mutter may VoJoinrd in court. Judge Dundy grafted M\H Injunction nnd ordered the water worksoSf nipanyto con tinue to furnish water as heretofore , until the court shall order dllfpifllitly. The mut ter will probably coino ; HP jfor a hearing within u ouk or two. [ no I'oitollloB CIrk > iiU Currier * . A civil servlco examlnatlMffor clerks and carriers in the Omaha pWSjilco yyill take place in the pQstoffico buUnS | August I , beginning at 0 o'clock. t i I No pcraon will bo examined for the position of letter carrier If under 31.or over 40 years of ago , and no person will bo ex amined for any other position in the classi fied postal service If under IB years of ago. No npultcatlons will bo received after July 18. The Civil Service commission takes this opportunity of statin- ; that the examinations art ) open to all reputable citizens who may doslro to enter the postal service , without regard to their political ofllliatioiis. All such rltlzons , wliothor dmnocr.Us or re publicans , or neither , are invited to apply. They shall be examined , graded and certi fied with ontlro impartiality , and wholly without regard to their political views , or to any consideration save their oRicioncy , us - shown by the grades they obtain in the examination. For application blanks , full instructions , and Information relative to the duties and salaries of the different | * ositlons , apply ut the poatofllce to the secretary of the local board , ANOTHER RATE WAR BOOKED Mnoh Depends Upon the Attitutlo of the Sago of St. Paul , WESTERN PASSENGER TRAFFIC CRISIS Jim IIIIl Must Drllno Ills Position on the Situation or Itu Competitor * Will t'nuio Something to Drop Mr. Droxcl'i Onmlm Interest ! . The fact that the mooting bt the transcon tinental lines Friday In Chicago abso lutely amounted to nothing has sot railroad men to gossiping , the consensus of opinion being that Jim Hill has the best of the situa tion. Representatives of the Great North ern , Northern Pacific , Union Pacific. Southern Pacific nnd Atchtson roads were In session all day nt the Wisconsin Central building , listening to demands of the Great Northern for the abandonment of the second class oast-bound faro nnd tourist sleeping cars from nil transcontinental lines. When asked what rates would suit the sago of St. Paul Mr. "Whitney , representing the Great Northern , made no dofinltn reply because the Canadian Pacific was not represented. But no amount of cajoling or badgering would shako the Great Northern from its position , with the result that last night there were n number of very warm mon about the hotel lobbies. Of course , Its foolish to think that roads other than the Great Northern will consent to the abolition of the second class eastbound - bound rate until they know what tlio Great Northern desires to substitute , und us for taking bit tourist sleepers , it is out of the question. With these problems faring the general managers und passenger agents of the trans continental lines , ttio merriest war of mod- cm times is about to bo declared. Should the Great Noi thorn fulLto state just what it wants , the Union Pacific nnd Northern Pa- clllc'wlll unite in a war of rates nnd they will make It decidedly interesting for Mr. Hill. DOOM Not Alltjitt Uinttlm. President A. S. Potter of the Omaha Bridge and Terminal company , when asked this morning by a reporter if the death of A. J. Drexel would change the status of the comuany In nny way , said : "While wo all regret Mr. Drcxcl's death I cannot see how it is going to affect any of the enterprises In which the millionaire wus Interested In East Omaha. Ho couldn't taico his money with him , and as Mr. Drexel w.is interested in our enterprises through Mr. Welch , undoubt edly they will bo continued by the executors of the estate. "Mr. Drexel must have boon worth be tween $10,000,000 and $40,000.000 , invested m the most conservative manner possible , "Ho gave little attention to the firm of Drexel & Co. of Philadelphia the last year or two and for the past three months has boon nt Carlsbad. Although famous for Its waters , Carlsbud seems to bo fatal to the Drexel family , because ho had a sister die thcro a year or moro ago , and I bollove Mrs. Drexel also Died nt the famous watering place. "Drcxel , Harjos & Co. of Paris will un doubtedly bo carried on by Mr. Hnrjcs , who is ono of the most delightful men 7 ever mot. Ho spent a day in Omaha some time ago and became so much Interested in tho" East Omaha schema that ho insisted upon taking some stock in the company. "My association with Mr. Droxcl , while limited , -was exceedingly pleasant. A quiet , reserved man. he gr.lspod situations intu itively nnd had the rare faculty of deciding things hastily nnd always well. Socially ho was a companionable man and Tory ap proachable. " "Union I'nolllo lutoregt In Silver. A dispatch from Denver states that the Union. Pacific lines in Colorado will bo illroftly nffoctod by the closing of'silver , mines nnd its ottlcors estimate the loss nt 75 per cent of the whole trafiia , or about $200- 000'a month. They say should suffering be come apparent in the mountain towns thcv will carry supplies at nominal figures. Aeon- soratlvo ccstinmtn of the loss to the Rio Grande road is 30 per conTTbf the gross earn ings , or about SlfiO.OOO a month , and this will increase if the mines remain closed for any length of time. The Colorado Midland will lose about the same proportion ot its earn ings. ings.The The roads have all commenced to lay off train crews nnd have received orders from the smelters and sampling works to accept no ore shipments. Even gold ore is not taken , ns it cannot bo bundled in most cases without silvur and load ( lux. llHilwsiy Nines. Harry P. Douel wont to Chicago yesterday. Union Pacific stook sold yesterday at W. F. Vnill of the Burlington has gone to Beatrice. Mr. nnd Mrs. , John Francis go to Hot Springs , S. D. , to'day. G. M ? Ford , general agent nt Dos Molncs of the Union pacific , Is in Omaha. F. A. Nash returned from Chicago yester day , und says that Chicago is relatively as dull us Omaha , Travel has been exceedingly heavy for the past few dnvs , the Indications for the day being thut all the roads will have to add a sleeper or two to their oust bound trains. President Clark telegraphs thut ho is feel ing much better thun when ho lett Omaha. Ho has not yoj decided where ho will rusti cate , but undoubtedly nf some ouo of the Pennsylvania mountain resorts. FIUUU OX IIH FACE. Misleading ; Mortgage Kocordi and What They IJo Not Slnur , ASHLAND , Nob. , July 1. To the Editor of Tuis BEE : A few days ago the record of Ne braska farm mortgages by counties for the year ended May 01,1603 , as compiled in the oflico of the deputy commissioner of labor , from certified statements of county clerks nnd registrars of deeds , was published In TUB BEE. In commenting editorially on the report Tin : BBB stutcd thut "tho most de ceptive and misleading statistical exhibit that is given to the public periodically is the compilation of the Nebraska farm mortgage record , as reported to the commissioner of labor. " The statement is eminently true , and as thn Nebraska farm mortgugn has boon hold up and pointed to ns ofllciallv re corded evidence of distress union , ? the farmers of the state , it might bo well to ulr the subject a trifle. The aggregate amounts of mortgages filed and released , though correctly rccoidod ac cording to law no moro .shows the actual mortgage indebtedness of tlio state than the size of u field would show how many bushels of corn It wilUproduco next season. Even if mortgages were always evidences of in debtedness , which they nro not , the record would bo not only misleading , but absolutely false , for the reason that partial payments are not credited on the records and In many cases releases of fully satisfied mortgages uro not promptly made. Only a day or two ago u gentleman told mo that it took him moro than a year to got u mortgage released , utter ho had paid it In full , and moro thun half of it had boon paid for tnroo years. The man who hold the mortgage lived a long distance from the county seat , und not fooling particularly in. torestod uftor ho got his money , would always forget to attend to it when in town. Such cases nro not exceptional , but vnry common ; but iho neglect to record releases of fully satisfied mortgages does not falsify the records lo anything like thu extent of partial payments which uro never credited except on the notes. There are thousands of Nebraska fanners , ambitious and oner- potlo men , who , not content with renting land , or even owning u small tract , have gouo in debt for larger holdings , paying only n small sum down thul terrible bugbear , the mortgage which ho freely gives covering the balance. Proba bly one-fourth falls duo and Is paid In onu year , another fourth the next und so on , but so far us the records are concerned ho still owou it every dollar. A bad year befalls him ubout thu time the last payment falls duo und bo asks for and gets another year's time. Only a small | > ortloii of the original dubt stuuds u uinst iho farm in reality , but year after year thu records go on showing that not a dollar hus beuu paid. Another feature. In a comparatively uovr / BALLOON ASCENSION AT AT COURT : LAND BEACH THIS AFTERNOON THIS BALLOON AFTER . ASCENSION. NOON. READ "Tlio Sato Sido. " A TJiolstto Uofntnt'on of tlo Divinity of Christ , by lllchnrd M. MlU'lioll , 10 1'nclflc ivvenuo , Chicago , III. U old , prepaid , 3l.iO. A common sense criticism of the Now Testament ; an oimiost , logloiil jiloa In fuvot ot the truth ; n most cxcullcntiind Interesting \\orli. "A moro thoroughly honust and Ituuir- tl.il criticism on Christian doctrines nnd the olnttns of Christianity has not boon imulHi- cd. " "Tlio writer entertains tbo simplest and most reverent belief in dad. " Should bo got before the world In every way possible. " ALSO "Kdcoloey , " a treat ho on the gonoratlvo system , by Dr. Sydney II. Elliott : St. Clnlr I'ubllslilni ; Company , Now Yorlt ; cloth , pre paid , gl.50. A book for every mnu and woman ; n Dractlc.il discussion oi heredity , pointing out serious errors in or.r social system and siiRROstliiK radical remedies lioifottlns off spring only under fmorablo circumstances ; corroborated by the opinions of sovornl hun dred eminent ulivplolnns nnd laynnn. "Vice 1ms no frtnnd HUe the prejudice.\Uilch claims to bo virtue. " A sincere bn'.lovor In the Inestimable value of these two works to humanity , voluntarily advertises thorn. country like Nebraska , vhoro land is cheap , poor men not financially able to own land cnn'nnd do procure it. nnd make themselves independent through the scarecrow mort gage. In such cases a mortgage is not nn evidence of distress , nnd not properly pf debt. Tbo foimcr owner had the land clear and might have kept it so. but sold it to the poor man , who hud nothing worth mentioning be fore ha bought the farm and paid for it with a promise to pay a mortgage. Wus the man wlio bought the land worse , or better off , the day after ho pave the mortgage than the day before ? ' Ho evidently thinks ho IMS battered his condition , but according to the records at the court , Iiausa in the county whore the laud lies , some poor farmer has augmented the mortgage indebtedness of the state T > y putting a plaslor on his farm.1 The man who now owns the land has Just ns much property as bo ever had , nnd is in a better condition to secure a homo of his own and a comfortable living for his family than ever before , while the other fellow , who preferred n mortgage to land , is perfectly satisfied. One has the farm , the other the mortgage. Both are happy. In the trans action not § 1 has been created or'dcstroyed , and yet the records show an increased mortgage indebtedness. Still further. Thousands of the farm mortgages entered on the records year by year arc given , not by poor men or mon in financial distress , but by the most prosper ous farmers and stock raisers of moderate means. For Instance : A farmer owns a qui-.rtor or a half section of land , nil paid for , or , perhaps , one or two payments not yet duo remain unpaid ( the records showing not a dollar paid ) , but ho has been prosperous and has enough money in the bank to lift his mortgage. As it is no * duo , und there is an other quarter section adjoining him which ho covets , he buys Jt nnd pays n portion of Ills surplus funds down , Hiving a mortgage for the balance. Now how will that affect the records ? It not only loaves the ontlro former niortguge sticking out like a knot on n Jog , when in reality only a small fraction of It remains unpaid , with money In the bank to pay It , had it not been for the second purchase , but puts another and still larger sum on record. Tno man who piles up this indebtedness , instead ot being - ing ft distressed victim of money sharks , interest fiends , grass hoppers , or drouth , Is u shrewd , prosperous speculator , able and willing to take his chances on a Nebraska farm , encumbered by a mortgage which ho voluntarily gives with gain in his eye. It might not-be out of place to add that there is 0110 other thing which hurts the credit of our state and Is as misleading as the mortgage record , although It has not been used to the same extent by false friends of downtrodden Ncbrusknns , und that is our low valuation nnd high per cent of levy. HUSTIC. SCHOOL BOABD "POLITICS. CnndUnte * for the Ullluo * to Ho Flllod at thu Next -tloatlni ; . A good deal of Interest is manifest Just now in Board of Education politics. The election of superintendent , secretary , super intendent of buildings and attorney will como up next Monday night regularly , al though It is possible that the matter may ' bo'deferred to n later date If the board should EO decide. ' With regard to the election of a superin tendent there seems to bo but one sentiment. That is that Mr.Fltzpatrlqk wlUbero-ulcctod and in all probability for a term of three years. If thcro is iuiyboJv else in the field helms bcon conducting a still hunt , and it is not probable tli'it uny other candidate will bo seriously considered. The list of candidates for the secretary ship M as long us u man' : ) nrm , with several wards yet to hear from. There nro at least five men who imagine that they have a raid , dead cinch on the office , und It is evi dent , therefore , thut thcro will bo several largo gobs of disappointment loaflnv around loolcii ) for a liolo to ( 'Jt into when the skirmish is over , The contest thus far hus been umduutod In the bust of spirit nnd It promises to continue that way to the end. Some of tnu moro prominent candidates are : Fred J. Uorthwlck. W. C. Blackburn , M. H. Itodllold , Frank M. Homllng , William Coburn , G. W. Holbrook and George H. Hutlilmn nnd others. There is also a scrau In sight ever the ofllco of superintendent of buildings , Ttni present incumbent , Mr. MacLeod , is desirous of re-election and oems to have a pretty fulr chnnco of success , but hu will huvo no walk away , by any moans , if rumors are nn.v indlisation of coming oven Is. 13x-Supurln tcndent Hamilton is said to ba nuking a still hunt for the place , as is also ex-Super- I intendnnt Wooloy , and botweim them they are keeping the track hot. Irving F , Baxter , the present attornov , soums to hold the poll in the race -for ro-oloi-tlon. In fact theio ciooa no appear to ba much of a centos over this position nnd Mr. Baxter fouU qulto confident that ho will bo roulnei another year. An expression of several o the men members of the board ujiou Mr Baxter's chances of re-oloction seomml to in dicale that ho had given very good uatlifac- tlou uud would probably bo ro-oloctod. RUiininj ONLY FOURTH OF JULY ATTRACTION. $3,000 in PURSES , It V/lll UIIUlllt' / . KATJiS Oil jiff Koatla J'or I'/irl Xc-ii/nrs iiricl l > rl\'IIoiyoa J.A.TUTH1LL , Sac'y. Omaha , Nob. Sl.tr. Ui-Tvnrcl 813 ; ; . I Stolen froju. the barnv.'ird of Adam Wln- ilolpli , QraiHl' l.Mnmi , No ] ) . , on the night of .Time 20,1803 , ono Kray horso. about 8 years old , chunky'bullil , wolulit about 1,000 pounds , shod In front , good'all ' Tmind liorscrandono dun lioi-so-aboul-lU years old , wulslit about 1,000 poumWhns two brands , ilnrlc line down his buck , Jorolock'i trimmed mi both horses. Adum'Wlnilolph will pay t2. > ,00 for the return of the liorsos. and Hull county will nay KDO.UU for the urioM , und conviction of tliu thief. On ihn Rumn nlxhl there was BtnUui from thu pas ture of Ollvi-r Mead , near Wood HIvor , Nob. , OIHI buy mum , 3 jours old , \vnl l > t 1100 pounds , white strip In faro , both hind tei > t wliltu , broken totlilvo. . Mr. Moail will piy JlO.UOfor ilio ruturnnP tbo mare mi'l ' Hull county will pay 850.00 for Uio nrrosl mid conviction of tlio tlifof. Arrcit imd wlro .1. A , I'oslullo , sheriff I Hull county , Urand Island , Nob. Jyl-d2t RANCH lALE The celebrated P. O. ranch 'inaugurated by M. E. Post ) , near .Cheyenne , Wyo , , includ- ng Lands , Horses and Cat tle at at the Front Door of the Court House , Cheyenne , Wyo. , at 2 o'clock p.m. , on JULY 18,1893. Further particulars by Baird & Churchill , Attorneys for Trustee , Cheyenne , Wyo. . RHEUMATISM IN 30 DAYS FOR $2 or MONEY REFUNDED Ily using Klmbatl'H Antl-lllioiimhtio Flnor King. Tiio Kcnulno Ii put up In velvet linen boxes. Ilowaro of Imitations , Sold only by B. W. SCHNEIDER , 1512 DOUGLAS ST. IT NEVER PAILS.
