D
THE OMAHA SUNDAY BEE: JUNE 30, 1912.
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TIMELY REAL ESTATE GOSSIP
C. F. Harrison Eeads Report on Tax
ation' Before National Meeting.
PLAN BOULEVARD ABOUT CITY
Omaha and Conncll Blmffa Are to Be
Encompassed by BonleTarda Now
Being Planned by Park
Commteaionera.
One of the Interesting and instructive
papers read at the convention of the Na
tional Association of Real Estate Ex
changes at Louisville was that of C. F.
Harrison, member of the executive com
mlttee and a leading" member of the
Omaha Real; Estate exchange. Mr. Har
rison was chairman of the committee on
taxation, which drafted the following re
port read at Louisville by him:
'That the taxing power is of vital Im
portance; that It is necessary to the ex
istence of government, are truths which
it cannot be necessary to reaffirm." This
statement of Chief Justice Marshall in an
early tax case was quoted by Judge
Brewer in a late tax decision and ex
presses a vital truth. .
"When I connlaer the amount of litera
ture published on this subject; the num
ber of experts engaged in trying to solve
its difficulties, to say nothing of court
decisions, statutes . and administrative
methods proposed, I realize the difficulty
of adding anything of value on the sub
ject ' ,
"This body of men, which probably con
trols, as agents or owners, the majority
of the property which pays two-thirds
to three-fourths of all the direct taxps
in this country, ought to be interested in
this subject; Strange to say, although
we claim to be experts and to know some
thing of all the facts relating to our busl
ness, as a matter of fact we know very
little about this one item of taxation,
although It has a very controlling influ
, ence on the value of real estate. From,
reliable sources I learn that from one
sixth to one-twelfth of the gross Income
of all Improved real estate goes for taxes;
that is, one to two months' rent is re
i quired. The tax item is usually larger
' than any. single item of expense.
Conditions Affecting Business. -
"At no time since the foundation of the
government has there been so much dis
cussion upon the fundamental things per
taining; to organised society. The gne-
i cess in our particular line of business
' depends not only upon our special know!
edge of it, but also upon those more gen-
eral conditions upon which our business
depends. We suffer at times, not because
special conditions affecting us are bad,
but because general conditions are un
certain. While we are not directly Inter
ested in the tariff question, yet the lower
ing or raising of tariff revenues affects
us. The tariff is the source of national
revenue, paid indirectly by the people.
The shifting of the tariff or the changing
of the national revenue system affects
conditions in the whole business world.
When such changes are made, involving
such large matters, all business must be
adjusted to the new basis before normal
conditions prevail. Our business, white a
distinct and segregated one, requiring
particular expert knowledge, is not segre
gated in the. sense, that it is not affected
by the conditions affecting all other bus!
neas. -, me national organization is an
attempt toVjalse the real estate business
to a national " plane, taking it out of its
strictly local conditions. This organiza
tion should know general conditions. In
doing so .we cannot ignore the fact that
the old order of things, not only in taxa
tion, but in other matters of government,
is being questioned as never before in
our history. In taxation the old order Is
passing and a new one being Instituted.
The general property tax is giving way
to scientific methods of taxation. In some
states, notably Wisconsin, California anti
Oregon, new methods have been applied
to the new conditions.
. System of Tnxntlon.
"Ohio, In adopting a new constitution,
had an .opportunity to change the old or
der, but I understand not much change
was made in taxation. Missouri is pass
ing this fall upon the single tax. Ore
gon has local option In taxation. Local
option, it was contended, was in contra
vention of the constitution of the United
States', which , provides that each state
shall be guaranteed a republican form of
government. The supreme court, how
ever, holds that this provision is not in
fringed upon by state local option law,
but that the question is a political one.
A state has power to pass such a law.
The people themselves of the state must
determine whether it is wise " or unwise.
In othr states It has been proposed tj
classify property; that is, to put different
rates of taxation upon different kinds.
Classification has also been passed upon
by the supreme court and declared not
to be in contravention of the national
constitution, the supreme court saying
that the United States does not guar
antee to each state equal taxation. It
is within the power of a state to deter,
mine methods and rates of taxation.
These revenue changes In the state gov
ernments are not only radical, but funda
mental." "The inheritance tax ha3 now become
a fixed tax in many states. The state
has power also to levy an income tax,
although by a decision of five to four,
the United States supreme court held that
the national government could not lay
such a tax. The states, however, are not
restricted In this respect. Wisconsin, as
far as I know, is the only state which
has an income tax. and it Is an experi
ment. Naturally it will take time to get
it adjusted to the taxing system. Per
sonally, I am not prepared to condemn
or to commend some revenue proposals
such as the single tax. I, however, quite
agree with Mr. Frederick, who said, 'In
substance, last year, that whatever opin
ion one might have of the Henry George
theory of the single tax, it certainly was
true that there might be an increase In
taxes on vacant property and be a some
what diminished tax upon the Improve
ments placed on the same. In other
words, as far as possible, refrain from
penalizing the investor who improves his
property.
"A word more and I am through.
Most Be Experts.
"Our most important concern, as mem
bers of the national association and as
individuals, is primarily to become ex
perts in order to render a real service to
our clients. Secondarily and reinforcing
the first, to know those collateral things
of wider range upon which our business
mdlrectly depends. The most important
of these larger things are government
and taxation
In my Judgment there has been, and
is, a wrong conception of these things
and this wrong conception has gotten
Into the very structure of our laws and
court decisions. Government has been
conceived as something Imposed upon us
by an outside power, antagonistic to our
interests instead of something which we
control and have imposed upon ourselves.
The very nomeclature of the books con
veys a wrong conception of a tax. It
defines a tax a, a 'burden . or charge
Imposed upon persons and property for
the support of government.' '.'It Is easy.
to go from the word impose to imposition.
No such meaning , ought ever to have
been given to taxation. It is not in any
sense an imposition except when it is
unusual and unfair.'' It Is a 'necessary
thing which every good citizen impliedly
agrees to. - ' ' '
"Lastly, in my judgment, the way , out
of these tax difficulties is not along the
way of stringent laws with affidavits at
tached to returns, ferrets and tax of
ficers prying into private affairs. It is
conceded that these methods have abso
lutely broken down.
Better Valuation Plan,
"The way to tax reform and abundant
revenue for all needs of our modern
civilized life is along the way of scientific
valuation of property and the application
of fair and equal tax laws under mod
ern conditions and an appeal , to the
moral sense of fairness In the American
people. In my judgment the first step
In the right direction to get better condi
tions is to abandon the antiquated con
ception of government and taxation,
namely, that they are naturally antago
nistic to the individual and his rights,
that the one should be opposed and the
other escaped if possible, taking the
broader and better view, namely, that the
government Is nothing les than a con
venient form for 'the expression of the
people's will and taxation a vital neces
sity of organized society without which
the fabric of government wou fall. Res
pectfully submitted,
"C. F. Harrison, Chairman, Omaha,
"C. A. Bingham, Cleveland, O.
"William H., Harwood, Des Moines, la.
"Henry C. Boehmer, Cincinnati, 0.
"J. A. Stebbins, Fresno, Cal.
"Evan J. Lester, Philadelphia, Pa.
"D. P. Black, Pittsburgh, Pa., commit
tee on taxation."
TI 1 IL
5UILDDB3
Some Pointers on Paint
By Arthur 0. Clausen.
A
BOUT the first thing in the
new home which shows de
fects Is the paint and varnish.
Any one of a number of
things can be the cause of the
paint and varnish troubles.
WMle the failure of paint or
varnish to stay on la often laid to the
material. It is as often the fault of the
man who applies It as It Is the fault of
the man who manufactures it.
Assuming that the paint is a first-class
article. It will In most Instances permit
of slight adulteration, with pure raw oil,
never, however, to exceed one quart to
the gallon on dark colors, with a smaller
quantity for light colors. This makes it
flow a little easier, and paint should al
ways flow easy and be brushed on, for
If put on too thick. It will invariably
crack and peel off. This Is one reason
why it Is advisable not to put on move
than two coats the first year, Including
the priming coat.
A paint on outside new wood wet k
has a tendency to shrink, making a
cracked surface very similar to the
crazed glazteg on an old china plate.
Water and dirt get in through these
cracks, soaking into the wood, and dark
ening the color of the paint, and for this
reason, the third coat should not be put
on until about one year after the com
pletion of the building, so as to fill up
these microscopic cracks.
While it Is not possible, in public print,
to state which manufacturers make poor
paint, and which make gocd paint, the
buyer is safe when buying paint that has
the contents specified on the label of
the can. Several of the better class
manufacturers follow this custom for, as
they truthfully point out, having nothing
to hide, they are glad to let their customers-
know what the paints contain.
The superiority of one paint over an-
mi
l.i Ji a uu in
niiinV.iiinitiiii 1 1 1 1 1
We certainly have convinced jw in former ad
vertisements that Home Builders' Preferred $1.00
Shares are profitable. They are guaranteed to pay t
per cent Interest in addition to a pro-rata share ol
Builders' Profit , . ''
We want to demonstrate by facts that
shares are not only PROFITABLE, but ABSOLUr.
LY SAFE, because Home Builders' funds are all In
Tested in mortgages on new homes built by us tor
home buyers. , . t : -,
This Means
1st No loans are made by Home Builders to Specu.
Inters.
Jnd No loans are made on old buildings
Jrd No loans are made to those compelled to Bor
row, because of adversity and perhaps un
able to make the monthly payments.
4th No loans are trade on the owner's valuation
. or any appraisement. We know the value or
every security and have a personal knowledge
of exact amount invested by the owner, be
cause we put up the dwellings.
New Way," explains fully Home Builders' plan ana
Home
Builders
Is
Safe
Our booklet, the
HOW TO SECURE A HOME.
HOME BUILDERS
(IXC.)
AMERICAN SECURITY COMPANY
FISCAL AGENTS .. f"
800 South 17th Street. Both Phones 3867.
Office Open Saturday Evenings Until Nine O'clock.
other paint is not because of any secret
processes known by one manufacturer,
and not known by another, but simply
because of the difference In cost, propo:
tlon and quality of the raw materials
used In mixing.
Paints with a large percentage of sine
in them are better than those contalning
lead only, in addition to the other in
gredients. Never thin out paint with turpentl.ie
Always use the best quality of linseed
oil. Be sure that the priming coat and
each succeeding coat is thoroughly dry
before applying the next coat. While a
good paint appears dry In about twq days
a better job results from allowing It to
stand for about ten days before applying on too thick or on wet or damp wood,
the next coat. Even good paint. If put will peel off. v.
MR. CLAUSEN'S BOOK
"The Art, Science and Sentiment
of Homebuilding."
Thirty ohapters, 300 illustrations.
It oovers a wide range of subjects,
including the planning of bunga
lows, suburban and olty homes,
costing front ,000 to 100,000, let
ting oontraota, loosing materials,
proper design of enttanoe, win
dows, fireplaces, etc Mew third
edition. Frloe, postpaid, $1.00.
Address, Arthur O. Clausen,
Architect, 1138-37-38 lumber Ex
change, vSOnneapoUs, Minnesota.
..,3K.T?..';
mf&m
1W
Hot Weather Specials
Alaska Refrigerators
Choose now while
the line is complete.
Either zinc lined or
white enameled. ,;
$0t5? to $36
Cash or
ments.
easy pay-
t '
Acorn Gas Ctoves . . .J317 to;934
Lawn Mowers . . . $2.25 to $16.50
North Pole Ice Cream Freezers
. . . 1 qt. $1. 2 qt. 91.25, 3 qt $1.65
Rubber Hose, Warranted ...
. IOC to Zoo per toot
JOHN HUSGIE HARDWARE CO.
2407-09 Cuming St . "If you buy It of Hussio, It's right."
P Tl,
' uoun
1888-V "91 8
mast Thtwo , -
m'Bn mmwa t.H '
pjpToe eouepaoMjoo Tno
lorsna
M. Moioiatuoa juftet pea.iaja.ia jo
aursti A pus 'sutrtd JinoaC n pues
samoM nu Junf a
ss paeiirsjvnS iiewtasq. ayep-oj-dn
ujapooi J. anais lWp")
-ou.naii nnmnmH f 1I .
J-M5t-"-"" -mum
A House of Brick
1. Is safest investment.
2. Is more beautiful and stylish.
3. Does not depreciate.
i 4. Is warmer in winter; saves coal.
- 5. Is cooler in summer.
6. Has but little selling competition.
7. No painting expense.
8. Minimum up-keep and repairs.
9. Costs only 10 more than frame.
; 10. Proves owner's judgment.
11. SUNDERLAND BRICK IS BEST.
icwn-rl Hi' !.'. t. I ! ....... . a
TIL j r-
4CIXCHErn I ( J j ' f iilfS
fen... I . I .g lo , i i pa
nil I 4 fflhTmHALL I II 4
8n Trww' i i r-ni s u i a
ii in i w i ii m r m
K il ffl 11 ti I I
J T t.ec
O 'H EH -O a- fWI f
fBOXB Y08R CONTRACTOR cwy
It lajruras MtMaetorr eaipletlo& of , I
Work aeoerdims; to contract
RATIONAL FIDELITY & CAIOUn CO.
NATIONAL FIDEUTT CAtVALTT BLDO.
' - ' - L
-)lanbaj
seArA '
y7
ais
Anchor Fence Co., 207 North 17th street
5
Now is the time to order fence. We sell all the popular flTs ana staphs
In Iron, Iawn and Garden Fencing at the lowest pricea JDrder ,now ahead of
Trellises n.aae to oraer.
Tetophoa. Bed ila. ..!
Ladies invited
Visit our display of Mantles, Fire
places, Andirons, Gas Logs, Fenders,
Grates, Fire Sets.
NEW STOCK JUST IN
Little rooms with actual fireplaces
show just how these goods would look in
your own home. '
TILE FLOORS
We contract for large and small tile
floors. Low cost. High quality.
SUNDERLAND - 1614 Harney - Phones
D. 252
A-1252
EJ
Flags
Flags
Flags
Flags
Flaj
Flags
Flags
Flags
Flags
Flags
Flag
Flags
Flags
Flags
Flago for tho Fourth
The best way to show your patriotism on tho
Fourth Is to decorate your porch with flags. .
Give your children a chance to show their
patriotism by providing them with the Stars and
Stripes.
We sell flags of all alien. .Telephone Douglas
338 and we'll deliver them promptly.
Scott Tent and Awning Co.
814-16 So. 12th St. Tel. Donglaa 83,
Flags
Flags
Flags
Flags
Flags
Flags
Flags
Flags
Flags
Flags
Flags
Flags
.Flags
Flags
Weather Made to Order
A Cool Lake Breeze in Your Office or
Home all Summer with an Electric Fan
l 'S&ii'STe i-i 4 , "? fan.
i. vs. -4raliVflr .'Ami. -v. "v 12
a v wv-
PIP
1
Building Loans
Money' to loan to build houses,
to Improve property or to pay
existing loans. Borrowers may
pay from 10 to 20 per cent on
loans on interest dates. Inter
est ceases on amounts when
paid. Loans closed promptly,
your business solicited.
IV. H. Thomas
501 First National Bank Bldg.
SBB
The hot summer days are -here, but
there's no need to suffer if you have one
of our easy running, quiet electric fans
installed in your home or office. All that is neces
sary, is to turn on the switch and you have that cool,
comfortable breeze that people go miles to get.J
If you have one of our noiseless "Emerson"
Electric Fans In use at your home or In your office, you can
pursue your daily labors with ease and comfort.
fact, you can have weather made to order,
are meeting the current prices with a superior
inch noiseless residence type fan 810.75
inch noisaless fan for home or office. .16.Gu
16-inch Oscillating noiseless residence typo
fan at $20.00
BURGESS- GRANDEN
ELECTRIC CO.
Next Door to Gas Office, 1511 Howard St.
Phone Douglas 353
Residence. Harney 4282
E. J. DAVIS
HEAVY HAULING
1818 Farnam Street
Omaha, Nebraska.
A BBB
WANT AD
will rent that vacant house, fill
those vacant rooms, or cacur.
boarders on short notice, at a very
mail cost to you. Be convtnecl
FINANCIAL STATEMENT OF THE J
OMAHA LOAN AND BDILDII1G ASSOetATlOH
JULY 1ST, 1912.
ASSETS
Loans on First Mortgages $4,632,826.00
. Loans on Association Shares of Stock 97,071.05
Interest Due from Members 4,265.56
Ral Estate Acquired Through Foreclosure . . . . . . 10,826.86
Foreclosures Pending 3,620.84
Furniture and Fixtures
Home Building ...
Contract Sale Douglas Block.
Sundry Persons and Accounts
150.25
152,515.20
31,500.00
2,190.29
Cash on Hand and in Banks 251,225.04
LIABILITIES $5,186,191.11 -
Running Stock and Dividends $4,515,271.69 .. . ,
Paid Up Stock and Dividends 365,716.32
Due Sundry Persons on Account Incomplete Loans 165228.26
Reserve Fund 107,955.05 '
Undivided Earnings 32,019.79
$5,186,191.11 -'.
Increase of Assets during fiscal year ending July 1 at 1 9 1 2 .$793,421.86
Dividends paid to members during year ending July lwt, 1912 ..$250,140.71
Increases in Reserve Fund and Undivided Earnings .. ..$ 21,4.02.44
The Omaha Loan and Building Association Is the oldest savings institution in Omaha, and one.of the
largest building and loan associations in the United States. During; the past six months we .made $7S
loans, amounting to $734,400.00, of which 125 were for the purpose of erecting buildings, the remainder
to purchase houses already built or for other purposes. V', .,'.'';
The ease and promptness with which loans are secured, coupled with the low rate of" Interest,
makes it possible for the average man of moderata salary to secure a home of his own within a few years.
Loans made on the monthly payment plan at the lowest building association rate. - : ,
Officers and Directors.' ' - ?
O. W. Loomls, President. J, T. Helgren, Ass't Secretary.
VV. 8. Wright, Vice-President. - A. A. Allwines, Ass't Secretary, ir. ? : -vi.M.
W. R. Adair, Secretary and Treasurer. ... F. H. Gaines, Counsel.' . f, i v'4
John H. Butler. E. A. Parmelee. - . . ; J- Dlnulng. , ,
W. Scott King. M. M. Robertson, " Charles E. Black.i ' v
v f r " U.-'- J I I ' -,. .,.,.
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