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About Omaha daily bee. (Omaha [Neb.]) 187?-1922 | View Entire Issue (July 2, 1916)
THE OMAHA SUNDAY BEE: JULY 2. 1916.
Prosperity of Oommnnitj Is
; ' Shown in Payments Made,
for Six Months.
BIO INCREASES BECORDID
' A half million dollari no longer
coven the dvidends the building and
loan eompanici of Omaha pay to their
depoiitort each half year.
Veiterday, which war July 1, the
day for paying the aeinjrQJinual divi
dend, the eight building and loan com
panies of Omaha paidYout Atotal of
$645,649 in dividends to tl depositors.
And this is for onlyfe half year'a
accumulation. No, it it lets than that,
for one of the companies, the Occi
dental Savings and Loan, pays quar
terly, so that the dividends it paid
July 1 were $90,000 for the last three
months, while if the entire six months
were considered the amount from this
company would be almost doubled.
The prosperity of the community is
shown by the increase in the resources
of these eight companies, which are
increased by the savings of the thrifty.
Every one of the companies reports a
big increase in resources during the
last six months. They reported a big
increase in resources six months ago,
but the increase of the last six months
was still larger.
Prudential's Gain Ii Largs. '
The Prudential, for example, en
joyed the greatest increase in the last
six months in its history. The in
crease in the last month was not so
strong is just before June, but the
first five months of the year yielded
a great increase. ,
The 'Conservative has continued to
grow and its resources to increase,
until the compiny finds itself so bur
dened with money that it has decided
to pay but 5 per cent on deposits in
the past, and in fact paid at that rate
July I. Dugjng the one year in which
the Conservative has branched out
into a farm loan business the com
pany has made loans on improved
farms of eastern Nebraska to the
aggregate sum of $1,750,000. Even at
the 5 per cent rate this company paid
out July I dividends' in the sum of
$260,000 for the half year's business.
Business ProEress Shown.
Savinors and Loan association for the
fiscal year just ended shows normal'l
business progress. Assets amount to
$1,161,690, a gain of $197,518, with
$17,172 in the reserve fund and $5,300
in unidivided profits. During the
fiscal period the association made 176
loans on homes,' of which ninety
three were for new homes.
Business conditions varied greatly
during the period covered by the re
port. In the first half the demand
equalled the supply of money, while
in the last six months the supply ex
ceeded the demand. Still all offerings
were taken, resulting in 473 new ac
counts, Earnings were ample for the
usual dividend of 6 per cent which
the directors declared.
No action was taken by the direct
ors looking to a reduction of the divi
dend rate which is talked of in asso
ciation circles. It is. left to the future
to settle. Accordng to the associa
tion's report, so long as its money can
be employed at the current -rate of
6.6 per cent no change in the dividend
rate is contemplated, but if competi
tion compels a lower rate to -borrowers
the dividend will also drop down
a notch. . .
The Nebraska Savings and Loan
association paid out $29,000 in divi
dends at 6 per cent and experienced
a large increase in resources during
the six months.
The Commercial Savings and Loan
association paid out $29,861 in divi
dends for the six months. This com
pany has $50,000 more of tesources
now than, it has ever had before, and
the directors say that while they are
still paying 6 per cent they cannot
tell how long in the future they will
be able to do this with money pouring
in so fast.
The Occidental Loan and Building
association, which paid $90,000 in divi
dends for the last three months (pay
ing quarterly), has experienced a gain
in resources during the last six months
of roundly a half million dollars.
Pay 8ix Per Cent
The usual 6 per cent annual divi
dend was declared to all stockholders
by the board of directors of the
Omaha Loan and Building association
at the semi-annual meeting held
Thursday, June 29, when the secre
tary's report was read and approved.
The total dividends declared were
$213,206.91 for the last six months.
In addition to the dividends $11,
241.26 was added to the reserve 'fund.
The increase in assets for the year
ending June 30, J916, was $1,432,896.67,
.making total assets of $9,486,996.26.
' State Savings.
The State Savings and Loan paid
$3,882 at a 6 per cent rate and has
had a good increase in resources. The
company expects to. continue paying
6 per cent.
The Bankers' Savings and Loan
association paid $10,000 in 6 per cent
dividends, as against $8,000 the first
six months of the year.. The com
pany has had a pleasing increase in
resources and expects to continue to
pay 6 per cent dividends.
Following is a resume of the divi
dends paid July 1 by the various build
ing and loan companies in Omaha:
Omaha : J1J.000
Prudential ; '.'JO
Stat. . , S.SSS
D. C. Patterson, who is seeking an
injunction to restrain the county com
missioners from, advertising road
bonds for sale, since the state auditor
has declared the bonds not legally
cameo, in tne county, has something
of a record in dealing with county
Comisstonera. Paltnnn aiit tlii.
injunction at the request of the
umini neai estate exchange.
ne was criticized by Commissioner
Henrv MrDnnalH fflr,fllht,mA th.
, . v, .,,.UH ,t
commissioners in this way, as Mc
Donald considered it something of an
Financial Statement of the
' 'n yyh
June 30th, 1916 i ' !' ' ; -M- 1
"); Assets ' kh: i&l I
,::l;:;U?.V -,$8,684,946.80 ;
Loans on First Mortgages Y.
Loans on Association Snares of Stock
Interest Due from Members...
Real Estate Acquired Through Foreclosure . . .'..
roreaosures renuing ... . . . ......
Office Furniture and Fixtures.. . . .
Association Building. . . . . .
Sundry Persons and Accounts. ,
Cash on Hand and in Banks . . .
Certificates of Deposit. '. . . , ?. V. . , :.
: 12,129.49 i
w 5,508.29 I
3 1 . 1 '
.7 . .
i t . ... ' vV.' .(
. .TY " 395,149.82
Running Stock and Dividends $8,233,197.76
Paid-up Stock and Dividends . .7. . . . . . . . . . V . . . . ... . . ... 688,917.33 ,
Due Sundry Persons on Account Incomplete Loans......... 342,836.05
Reserve Fund.'. 206,085.11
. Undivided Earnings'. , . . . . , ;; , 15,960.00
Total UabiliUes... ................. $9,486,996.25
Increase in Assets during past six months ............. '.V.', ..',$ 908,525.82
Increase in Assets for the year ending July 1st. ... . ..... .; ; 1,432,895.67
Dividend earned for Members during year .-;-.y.T.'..i.."..r..'.".l' ' 410,523.86
Dividends Earned for Members since organization ........ ... 2,591,458.13
Reserve Fund and Undivided Earnings. . . . ..... ... . .... 1 222,04541
During the past six months we have made 578 real estate loans amounting to $1,
274,275.00, of which 166 were for the purpose of erecting homes, and the others to
purchase homes already built, and for'other purposes.
. ' The ease and promptness with which loans are secured, coupled with the low rate
of interest and the easy monthly payments, makes our plan especially attractive to the
average man of moderate means, who is ambitious to become a home owner. ,
Savings Accounts may be opened at any time, in any amount, from One Dollar up.
w ' Officers and Directors v
" C. W. LoomU, President. . ? W. S. Wright; Vice president; f
W. R. Adair, Secretary and Treasurer. - .
J. T. Helgren, Asst. Secretary. A. A. Allwine, Asst. Secretary.
Joseph Barker, x , Charles E. Black, John H. Butler,
R. J. Dinning, ' , . A. Parmelee, Millard M. Robertson.
Office: Association Building, Northwest Corner Dodge and Fifteenth Streets.
South Omaha Office: 4733 South Twenty-fourth St, J. H. Kopietz, Agent
Commercial Savings & Loan Association
4931 South 24th St, South Side.
: Financial Statement July 1st, 1916
First Mortgage Loans. . .$1,032,400.00
Loans on Pass-Book Se
Real Estate. .. . ...... . . . 9,779.13
Real Estate on Contract. . 2,485.55
Interest in Arrears. ..... ' 933.10
Caslvon Hand. . .... .. . . v 69,373.62
liabilities. : ',-.;
Dues and Dividends. .7 . . $1,090,925.79
Reserve' Fund . . .'. ... ... 20,000.00
Undivided Profits . . . . . i " 2,158.13
Incomplete Loans. . . . . ; 12,325.98
. . $1,125,409.90
F ' Comparative Growth
j JULT t, not, ll, 0,
JULY 1, IIS7, 202,tS.St
, JULY 1, 1910, $617,600.00
JULY 1, 1912, $817,600.00
JULY 1, 1914, $1,004,500.00
JULY 1,1915, $1,080,600.00
JULY 1. 1916, $1,125,409.90
P. J. SHEEHY. . .
W. P. ADKINS..V
" W. J. COAD
Put Your Savings in a Safe and Profitable
Start an account NOW in this Association.
Undar StipanUioav of the Stata Bukinf Beard.
Dividend periods are at Jan. 1st and
July 1st upon whjch dates at the option of
the stockholder, the dividends are either
paid in cash or added to the principal.
Officer and Director: . ,
Preaidont JAS. J. FITZGERALD. ... ......
.......... Vlee-Preaident F W. THOMAS......
A. H. MURDOCH. Attorney
KOUTSKY E. C. KOHANSKY U F. ETTER T. F. QUINLAN
PATTERSON HAS MET
COUNTY DADS BEFORE
Has Had Previous Exnerienoe
in Disputes with County
SOMETIMES HE LOSES
insult to the intelligence of the com
Patterson, however, has had more
experience with mandamusing dor
mant commissioners than restraining
violent ones. -,
Thirty-five years ago, he helped
load and haul away the records of the
court house of Wayne county1, when
the county officials, to a man, sheriff
and all, refused to move the county
seat from LaPorte to Wayne, even
after the people of the county over
whelmingly voted for the removal.
Patterson drove across the prairie
early one morning and engaged, some
of the stubborn county officials in
conversation on the front steps of the
court house. This waa part of the
strategy. In a few minutes several
wagons, drawn by healthy horses
lumbered up to the back door, and
husky frontiersmen, allies of Patter
son, leaped off and ran into the court
house. They began to gather up rec
ords and ledgers.
The officials, talking to Patterson,
began to get uneasy and excited:
"Now, just keep calm," said Patter
son. "We're going to move the rec
ords to the new county seat in spite
Bankers Sayings and Loan !
Statement at Close of Business June 30, 1916 1
R. E. Loans ' $400,380.00
Stock Loans 7,802.67
R. E., Furniture
and Fixtures 12,705.72
Cash, Office and
; v ; $443,863.53
Capital Stock $415,287.30
Profit and Loss , 23.92
Incomplete Loan 26,798.74
Our Annual Comparison
Showing Growth. 1
June 1910 $ 77,726.05 1
June 1911 110,586.77 j
June 1912 ' 174,38.05 j
June 1913 216,170.98 I
June 1914 . 273,087.59 f
June 1915 ; 334,975.80 j
June 1916 .443,863.531
. We have never paid less than 6 per cent dividends. f
. All our loans are secured by FIRST MORTGAGES ON IM- i
PROVED REAL ESTATE.
S, Our mortgages are non-negotiable. They can not be sold or as-1
signed, but must be held to secure our depositors. 1
There is no safer investment for your money and no better return I
eonslatent with safety than is offered by the BANKERS SAVINGS & I
LOAN ASSOCIATION. .
If you want to borrow money to buy a home, or build a new house,
come to us. . " I
Officers and Directors
W. D. Lincoln. .. . . President
N. A. Sptettwrsvr. .......Viet President
A. D. Touulln. .
A. A. Tenopir. . ,
U D. Bpmldint. ,
Thoa. D. Cran. .
. . .Beerctarr
.. .Assistant Becrstasy
John C. Wharton, ' i
- J. P. Learr.
t i, McMahon,
: Cha. P. Knncl,
;v- i o. D. Hutchinson. :
F 1S05 FarnamSt; Opposite New World-Herald BIdg. J
of you fellows. Now don't go into
hysterics. The best thing you can do
is to run into your office and gather
up your papers and put them in order
in the various boxes so nothing will
be lost Do it quickly so that nothing
will be misplaced, for these fellows
will have the boxes of records loaded
in a few minutes. So the officials ran
and helped pack the boxes they were
so loath to see moved.
In a few days the county seat was
all settled and quiet at Wayne, where
it has been ever since. ,
Twenty-two years ago in Omaha,
when 5,000 people petitioned the com
missioners to submit a bond issue to
the county election to build a power
canal at Fremont, Patterson sought a
mandamus to compel the Douglas
county commissioners to submit this
bond issue. The supreme court, where
the case finally wound up, held' that
a county was not authorized to own
power canals, and Patterson lost j
Real Estate Men Vote ,
To Help Out the Julius
ber, the steamboat plying between
Omaha and Decatur, that is what the
Real Estate exchange of Omaha has
voted to help the little craft along.
The Commercial club aent out com
munications asking for contributions
from various organizations to help
defray the expense of getting this
river line into regular service, and the
exchange promptly responded with
its share. The boat is plying regu
larly now, and bringing much live
stock to the Omaha market from De
catur and vicinity.
Co or hi mat Clts An Dutorous.
Internal throat and chest troubles produc i
Inflammation" To reduce Inflammation,
looses couh. destroy, cold gerrns, usePr.
fins"! New;, Dfscoeery.. 4rulsts. Adv.
Nebraska Savings and Loan (
At The Opening of Business, Jun 29, 1916.
Real Estate Loans SLO.TRo no
tM Annotation Stock lfi.2fif).30
-Municipal Bonds 1M2!
Real Estate S6ld on Contract 5 ?-?5
Real Estate 2,407.39
Foreclosure Account face of loans and costs
Interest and Taxes Due from Borrowers
Cash and Checks in Drawer 1 .751 OS
Cash In Bank. 54.059.81
- ' LIABILITIES.
Does Paid and Dividends Added Thereto .
. " 61,276.13
July 1, 1910
July 1, 1911.
137,914.47 July 1,1912..
July 1, 1913.
July 1, 1914.
July 1, 1916. .
, Theoregroinu comparative fiprures show satisfactory
progress during the flscr.1 year just clored. For the past
six months the Association's earnings Tiave been' ample
for the regular dividend rate of 6 per cent per annum,
which has been credited to the shareholders accounts.
Should like favorable conditions continue during the cur
rent half year the regular dividend rate will be main
tained. There is avgre"at abundance of money seeking
safe investment and competition for good loans is be
coming keener and tending toward lower rates of interest.
The Directors hope to keep the Association's money
employed at the current rate, but should competitive
conditions force a reduction of the interest rate to bor
rowing members a reduction in the dividend rate will
become a future necessity.
Officers and Directors t
Thos. A. Fry
Bobert 8. Wilcox. .
John It. Brandt
O. B Hsverstlek..
Edtu M. Morsmaa, Jr Attorney
O. D. Kioltnter.
W. G. Ure,
Thoa. P. Godfrey,
Byron R. Hastlnfrs,
Thomas J. Fitsmorris.
Sanndera-Kennedy Bid, 211 South 18th, City Hall Blk.
Financial Statement of
I The Conservative Savings and Loan Association
of Omaha. Nebraska. July 1, 1916
First Mortgage Loans on Improved City Real Estate ,
First Mortgage Loans on Improved Farms. ........ ...
Real Estate and Sales on Contract
Loans on Conservative Association Stock. . . . ., . .-. ,
Office Building and Lot
Davidge Block purchase for future Association Home
Municipal Bonds and Warrants. . . ;
Cash on Hand and in Banks.
'Dues Paid and Dividends Added.
Building Loans ... . . I ... . . . . ...
Contingent: Loss Fund . . . .".
Davidge Block Rental Account. . .
T T 1 . 1 . .1 T-. Iti
, :- $12,518,743.28
. Increase in Resources past six months. $1,185,191.55
Increase in Resources past year 1,904,384.91
Amount of Dividend July 1, 1916. , ... . . . . .;. .... 17. 257,983.87
Dividends since organization ..... Y : .......... 3,524,743.24
Amount of Farm Loans made in past year. .......V-..Y.'.,....'.... i;343,300.00
Increase in Membership past year.. .... . 2,738 Y Y v ' '
It is the effort of the Directors of The Conservative Association to aid and encourage people in
becoming thrifty and in securing homes of their own. It is for this class of persons that the Associ
ation .was organized rather than to care for the larger sums of money. It is a great encouragement
to anyone to know that his one-dollar or five-dollar amount is receiving the same security and the
same rate of return as the member investing $1,000.00, and equally an incentive to a man to pay off
the mortgage on his home by financing it on a monthly-payment basis where, with each payment
made, he owes less to the Association and has a larger equity in the property.
It is also the effort of the Directors to always make the Association dividend a satisfactory rate
by paying each six months what has actually been earned after caring for all expenses and adding
to the Contingent Loss Fund as required by law. Dividends must always depend upon earnings, as no
guarantee of the rate can be given by any association doing business in this state.
We invite people with One Dollar or more to become members of the Association any day with
, out expense, and add to their savings any amount at any time, or if in need of a loan on improved
(or to improve) real estate, to consult us as to rates and terms. , . ' ,
Money loaned on Eastern Nebraska farms Money on hand prompt action guaranteed.
- Of ficers and Directors '
Cm. F. Cllraora, Pm.
J. H. McMillan, Asst. S.
. Randall K. Brown -
- - Byron R. Hnatings
. H. A. Thompson.
Baird, Coraaot . .
A. Lpenu. Asst. Soa.
E. A. Bomi ;-' -John
F. Flack -.
. J. C Robinson
A.r. Ttjltty .
P. W. Kuhns, Sec.-Tnu.
. L. R, Slraockor, Attorney
A. W. Bonwa
CharUs C. Goorto :
J. A. Sunderland
CM. Wilholra .
Offices, 1614 Harney Street, Omaha
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