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About Omaha daily bee. (Omaha [Neb.]) 187?-1922 | View Entire Issue (July 2, 1915)
1P1.V Omaha's Financial Institutions in Healthy Condition THK REE: OMAHA. FK1DAY, .H1LY . FINANCIAL STATEMENT OF THE OMAHA LOAN AND BUILDING ASSOCIATION JUNE 30th, 1915. ASSETS Loans on first Mortgages $7,416,531.80 Loans on Association shares of stock 13(.),f65.2tf Interest due from members 5,144. 1G Real Estate Acquired through Foreclosure 18,158.52 Foreclosures Pending 8,466.50 Furniture and Fixtures 520.00 Association Building 160,000.00 Sundry Persons and Accounts 2,326.37 Cash on hand and in banks 303,287.97 Total Assets '..$8,034,100,58 LIABILITIES Running Stock and Dividends $7,018,726.16 Paid-up Stock and Dividends 615,110.71 Due sundry persons on Account of Incomplete Loans 219,902.74 Reserve Fund 186,046.70 Undivided earnings 14,314.27 i Total Liabilities $8,054,100.58 Increase in Assets during past year $1,013,584.42 Dividends earned for members during past year. . 359,978.00 Dividends paid to members since organization . . . 2,180,942.91 Reserve Fund and Undivided Earnings 200,360.97 Dividends, credited semi-annually, luive never been less than 690 per year. Savings accounts may be opened at any time, in any amount from one dol lar up. If you are planning to build or buy a home it will pay you to investigate our plan. Payments on our loans are on small monthly payments with privilege of paying larger amounts or paying off the entire loan at any time. OFFICERS AND DIRECTORS G. W. Loomis, President. W. S. "Wright, Vice President. "W. R. Adair, Secretary and Treasurer. J. T. Helgron, Assistant Secretary. A. A. Allwino, Assistant Secretary. Joseph Barker Charles E. Black John II. Butler. R. J. Dinning, E. A. Parmelee. Millard M. Robertson. OFFICE: Association Building, Northwest Corner 15th and Dodge Sts. South Omaha Office: 503 North 24th St. J. II. Kopietz, Agent. FINANCIAL STATEMENT OF COMMERCIAL Savings and Loan Association July 1st, 1915. ASSETS. First mortgage loans. ..... . .$1,010,010.00 Loans on pass book security. . 14,533.26 Real estate Real estate on contract. Interest in arrears Mortgages in foreclosure.... Cash on hand 9,516.65 4,716.87 " 236.30 3,653.35 38.001.58 LIABILITIES. Dues and dividends $1,027,948.01 Reserve fund 15,500.00 Undivided profits 1,363.73 Incomplete loans 35,856.27 Total $1,080,668.01 Total $1,080,668.01 Put Your Savings in a Safe and Profitable Plnce. Start an Account NOW in this Association. Under Supervision of the State Banking Board. OFFICERS: P. J. 8heeh, Pres. W. P. Adkins, Vic Pres. Jas. J. Fitzgerald, Sec'y. F. W. Thomas, Treaa. A. H. Murdock, Attorney. 1503 Farnam Street, Omaha, Neb. DIRECTORS: P. J. 6heehy, W. P. Adklna, 1). J. O'Urien, F. KoutAky, E. C. Kohansky, W. J. Coad, L. F. Etter, T. F. Qulnlan. Jas. J. Fitzgerald, W. E. HOGAN, Cashier. South Omaha Office, 311 North 24th St. LOAN COMPANIES SHOW PROSPERITY Vficn Filled with Omaha People Drawing Their Six Per Cent Dividends. ARE NOW MAKING FARM LOANS Forty Lead and Zinc Mines in Missouri Closed by Strikes JOPIJN. Mo.. July 1. Mora than forty mines In Webb City and Joplln now ar. (hut down, tha result of tha atrlka of lead and ino miners, which began last Monday. Ten mora mine, among; tha heaviest producers of tha Joplln district, were closed today. Tha week's output of ore will ba greatly ourtalled. Three thousand or snore men are out of em ployment. At a meeting her last night, tha first held in Joplln by tha strikers, tt was ad dreseej by leaders of a movement to or ganise an Independent union. At tha meeting it waa decided to march upon other mlnea at Joplln today, demanding that they close. Operators have pre dated that If tha strike continues there wll! be but few mines In southwest Mis souri operstlng by the end of the week. Miners of the Joplln district have never berora been arfillated with labor organ isations and no foreign classes have been employed In the mlnea. leaders say they will attempt to organize locals In every city of the district. They are op posing affiliation with tha Western Fed eration of Miners. DEFINES THE DOCTRINE OF DUAL NATIONALITY WASHINGTON, July l.-Chlldren born on American soli, whose parents have ba 00 me naturalised American cltlsens. can not ba classed as possessing dual na tionality and are not considered liable to tha military service under a foreign flag, tha 8tate department made clear In a statement Issued today. "While the United Btates always hss recognised." the department says, "the existence of dual nationality In the case of children born In the United States of alien parents, of children born In a for eign country of American parents It does not concede that dual nationality exists in case or a foreign born parent, who has acquired naturalization aa a United States clUsen." While tha State department extends whatever protection It can to persons of dual nationality who enter the other country by which they are claimed, it does not assure them immunity from mili tary service. Murderer of Brides Sentenced to Die IiONDON. July l.A. verdict of guilty waa brought In by tha jury today In tha case of George Joseph Smith, who was chsrged with the murder of three of his vlve. It had been alleged by the crown that Smith killed his wives while they were In their baths and had collected In surance money on their lives. Smith ass rrntemed to death. The building and loan companies of Omnha have had a sstlrfnctory ntvl prof itable business during the six months ending June . 1M5, anJ July 1 found the various offices In the city packed with depositors and Investors receiving their semi-annual 6 per cent dividend. Th building and loan system Is constantly growing In popularity. Tre assets of all the companies are swelling, and de positors are more and more snxious to place their money at the disposal of these companies. Many of the local companies hava found It necessary to restrict the amounts of money they would take from any In dividual, as they prefer the small de positor rather than the man who wants to Invest JIO.OX with them at a single stroke. The man with the to,W or the $10,000 to Invest, hosevtr. Is stowing more and more anxious to place it In the building and loan, and it la that tendency that threatened for a time to flood the companies with more money thn they could place. This is why many of the companies restricted the amounts to be deposited by any one Investor. Money Is ott Worktna. The combined associations of Omaha have now approximately $2j,O0O.OnO In assets. And this enormous business has been virtually built up in twenty-five or thirty years. This enormous amount of money repre sents the savings of thousand upon thous ands of persons In the city, who have saved any sum from 60 cents to $300 or more and have placed It In these financial Institutions where any amount no matter how small, from 80 cents up. draws a dividend at the rate of 6 per tent rer annum. These companies sre mutual so cieties for saving, and one can do busi ness with them only as a mcmbsnl. Membership Insures to each a share In all the securities and rroftts of the as sociation. Thus the ft How with but SO cents in the world to Invest can Invest it safely In first mortgages on Improved properties at any time by applying to the building and loan companies. Mlltons of Assets. During the first three months of the present year there wes quite an excess of Idle money In these associations be cause building was not as active as It might have been expected to be at the time of year. At the present time this money Is practically absorbed In - good first mortgages and there is Some demand for more. This change, fame, about na turally with the opening of the building season In Omaha and with the renewed vigor of the building activities. Making Farm Loans. Loaning on farm mortgages Is a new departure that has been engaged in the last six months, notably by the Con servative Savings and Loan association. This company has since March loaned (301,000 on farms, taking nothing but first mortgages on Improved farms In eastern Nebraska, where the agricultural reputation of the locality has long been established and unquestioned. This money is loaned at 6 per cent on the amortiza tion plan of payment, which will pay out tha debt In exactly fifteen and one-half years The seml-ennusl payment of $X on each $1,000 of principal pays off the interest and such psrt of the constantly j decreasing principal that at the end of ' fifteen and one-half years the debt Is j entirely wiped out. Where such a borrow- er's payments are promptly met he may I see at any time, by consulting the tables the amount necessary to pay off his loan I In full. On this plan thirty-one semian nual payments of $o0 each, or a total of j $1,649.01, will pay off a $1,000 loan with ; Interest In full. Nebraska Shows Gala. 1 Tha Nebraska Savings and Loan ssso elation has made a gain of nearly $1T. in resources In the fiscal year, which carries Ha total assets now to $964,000. The Omaha Loan and Building associa tion has mode a gain In assets during the flues 1 year of $1,013,534.42. It has earned dividends for Its members during the lsst year of $&9,tS7, and has paid a total of dividends to its members since its organi sation of $2,180,942.91. The reserve fund and undivided earnings stand at $200,.1h0.97. The Commercial Pavings and Loan as sociation has first mortgage loans to the sum of $1,010,010, and loans on pass book security to the amount of $14,533.24. The Commercial has made a nice- gain dur ing the six months and has enjoyed a very satisfactory activity. Many New Accounts. During the fiscal year just closed the not resources of the Conservative have Increased $1,233,916.08. Of this amount the real estate loans account presents the most marked growth, amounting to $1,147,994.41. Its Increase In savings and Investments, which are popularly termed "deposits." amounted to $.'f?6,49.rc. Dur ing the yesr 4.28 savings accounts were opened and 2,712 closed, which leaves a net Increase of 1,(776 savings accounts In the last twelve months. The , per rent dividend paid to all the Investors or "depositors" In this company,' totaled the huge sum of $496,049.08 for the fiscal year, or $357,216.31 for the first six months of the present calendar year up to June to. The marked growth of the Bankers' Savings and Ioan association, sotithesst corner of Sixteenth and Dodge streets, Is attributed by A. D. Touialln, the sec retary, to the courtesy shown to small accounts. The officers hold.thst they would rsther hsvo ten loans of $1,000 each than one loan of $10,000, and they always welcome those depositors who want to save systemstlcally. The asso ciation pays per cent dividends regu larly. Money Is Abaadaat. Generally speaking, money la so abund ant with the building and loan associa tions that some of them cannot accept all that Is offered because they are unable to loan it out satisfactorily fast enough t j keep up with the deposits rolling in. If this condition contlnuea any great length of tlmo. indicating as tt would that money Is permanently cheaper, then It la said by some of tha companies that the possibility of psylng a lower dividend rata next year must be considered. It Is pointed out that much of this money should be at work In more active lines- making work for working men. Soaae Hay Maalrlpat Rands. Some of the larger ronipsn'es have also found It t.ecetsary to Invest some of the I Financial Statement of The Conservative Savings and Loan Association OF OMAHA, NEBRASKA July 1, 1915 First mortpntre lonns on improved oily real estate $ 9,404,075.16 First mortgage loans on improved farms ,. 'J01, 000.00 Heal estate and sales on eontraet 37,(584.43 lans on Conservative Association Stock P9,46I).6t Accrued interest 'J2,.'J87.73 Office building and lot 81,000.00 Municipal bonds ami warrants 162,293.69 Cash on hand and in banks 546,445.70 Total $10,614,358.37 Dues paid and dividends added $10,020,587.50 Building loans 311,237.25 Contingent loss fund 265,000.00 Undivided profits 17,533.62 Total $10,614,353.37 Iucrease in resources past six months $ 995.S37.27 Amount of dividends credited duly 1, 1915 257,216.31 Dividends credited since organization 2,987,935.51 i Ixians promt ly made on Omaha Heal F,stite or on improved Farms in Eastern Ne braska. Call for rates. Officers and Directors Geo. F. Gllmore, Prwt. .. H. McMillan, Asst Sec'y. Itandall K. Brown Bobert PeiripMer Byron 11. Hastings II. A. Thompson Wm. Ilalrri, Counsel J. A. Lyons, A't Set'f' E. A. Benson John F. Flack. J. C. Robinson A. I. Tiikey 1 Ktihns, Bec'y-Treas. Ij. U. Slonocker, Attorney A. V. Ikmman Charles C. George j i. A. Sunderland l M. Wllhelm f Offices 1614 Harney Street, Omaha sssjsajsaMMMsw MffarwfflMWlliilHiaiiirTrmm gsmaaliiiTlfflX (Bankers Savings & Loan Association) Southeast Corner Sixteenth and Dodge Streets BKSOtnCKS Henl Estate Ixians $301,775.00 Ktock lioans Henl Folate H.00O.13 Furniture mid Fixtures l.HHil.H.I Delinquent Interest 2.0IS.7.1 Cash on Hand la.iitHI.US 3iil,0U3.M0 LIAItlMTIEM fapltal Stork $327,fl47.5l Keserve 1,017.23 Incomplete Loans 0.231.07 $33 !,0Od.O Comparative statement showing growth in last five years. 1 v. n. i.. n. June, 10IO . . . .$ 10.05 June. 1011 110.3Hfl.77 June, 1012 174,3.18.03 OFFICEH8 LIXCOI.X, President. A. 8PIF.SHKIUJF.R, Vice-President. A. 1). TOIZALIX. Hocictary. A. A. TKNOriH, Asm. Secretary. SPALDING, Tiea. THUS. D. CHAXE, Atty. June, 191.1 216,170.08 June, 1014 273,087.50 June, 1015 831.0fl.V80 Pi HECTORS J. 1". LEARY 4 J. J. McMAHOX CHA8. F. Kl'XCL C. 1). Hl'TCHIXSOX JOHX C. WHARTON surplus f.inds In munlclpsl bonds and' warrants, as provided by recant amend ments to the building and loan law of tha state of Nebrsska. This law, It Is sild. will b of great service to msny of the bulldtnj; and losn assorlstlons of the state. The limit placed on this kind of sn Investment for any sssoclatlon Is ths amount of Its contingent loss fund. Borne are holding; that this limit rhould be In cressed, and thereby there woud be a direct benefit to the state In ensbllns the building associations to sbsorb a lance proportion of Nebraska's bonds and wsrrsnts. On account of the pop ularity and rise of the building associa tion business in this slate It Is polntel out. this limit mleht wisely be Incressed to 30 per rent of totsl sssets, the lime as It Is In the slate of Ohio. The locsl real rsiato msrket, which Is watched as a kind of pulse of the build ing and losn business, has been quite ac tive In large deals, especially In down town business property In the hesrt of of Omaha. The building and loan men say there Is every reason to believe that this fall will bring an Increased demand for home and for home loans. FIVE LARGE CITIES IN SOUTH DAKOTA GO DRY ABERDEFN, P. D , July l.-At o'clock last night curfew rounded ths death knell to saloons In five lsrge cities of South !ukola and many smaller j towns. I Aberdeen Is the Isrgrst of these cities! ana while the liquor element Is still ' clinging to a slender thread of a reversal of Judgci Rouck's 'dry" order by tha suprehe court, all have reduced their stocks preparatory to moving. James, thirteen mlla esst of here. Is the only wet town In this locality. Among tha other large cities snd towns In the state to go dry are Mitchell, Rapid City, Madison. Mllhank. Klaseton, Webster, I'latte, rlanktrtfton. Murdo, Iola, Kim ball. Garret son. Farmer, Custer and Bristol. Apartments. Tats, houses and cottages csn be rented quickly and cheaply by a Hee 'Tor Rent." STATEMENT OF Nebraska Savings and Loan Association At the Close of Business June 30th, 1915. KKSOl'P.CES. Real estate loans $904,125.00 07ft. 53 .S62.SJ ,422.67 387. S 687.10 ,120.5a Loans on association stock Real estate sold on contract , Real Estate Interest due from borrowers Cash and checks In drawer , Cash in bank 22. 6. 2. 28. Total $964,171.79 MAISILITIES Dues paid and dividends added thereto $904,638.18 Reserve fund 12,135.27 t'ndivlded profits 4,78.4s Incomplete loans 42,608.92 Total $964,171.79 COMPAHATI E CiUOWTH HESOI KCES July 1. 1912 606,861.79 July 1, 1913 692, 460. IJ July 1, 191 4 825.194,88 luly 1. 1915 964,171,79 July 1, 1907 $149,143.96 Inly 1. 1908 208,049.79 luly 1, 1909 240,906.9:1 July 1, 1910 370.CG3.52 July 1. 1911 446,561.42 Khares ma) be sul scribed for st any time, glvlnc you sn secount on which yo.i taii deposit your savings weekly, monthly, quarterly, seml-ani,ually. $1.00 starts an account. Loans to homemakers. OmCIRI AITS SimSOTOBS Thos. A. Kry. I'res. Hobert.K Wilcox, v. P. John R. Brandt, Pec y. (1. K. Ihiverstick. Treas. Kdirar M. Moiwman. Jr., Attorney. Major R. H. Wilcox. Ievld Cole. Bartholomew Julian. W. T. B. Belt Thos. F. Oodfrey. Hyron It. Hastings, Thos J. Kltxniorrls. Sll oath isth Street., Omaha, Web. Let The Bee get you a job. Situations Wanted" ads are free.