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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. LOAN COMPANIES v PAYDIYIDENDS 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: Conservative 1269,00ft Omaha : J1J.000 Occldentar t.ool) Commercial 2S.SS1 Nebraska 3B.00O Bankers' )0,000 Prudential ; '.'JO Stat. . , S.SSS Total.... 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 ... IIIMM AianaiiiiiaiiaiiSMaMaitsiieiasiiaiiaiiSMtiiiiiiiisariwtaMainttaiwiatiBiiai Financial Statement of the ' 'n yyh Omaha: Lo ;..'.' .ivv-'w and Building an Association j 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. . , :. 5.880.64 S : 12,129.49 i w 5,508.29 I 3 1 . 1 ' -200,000.00 'Total Assets.'..1, "Liabilities .7 . . i t . ... ' vV.' .( . .TY " 395,149.82 jit-;'? w"- $9,"486,996.25 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 ... ASSETS. First Mortgage Loans. . .$1,032,400.00 Loans on Pass-Book Se curity 10,438.50 Real Estate. .. . ...... . . . 9,779.13 Real Estate on Contract. . 2,485.55 Interest in Arrears. ..... ' 933.10 Caslvon Hand. . .... .. . . v 69,373.62 $1,125,409.90 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 Place. . 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 .Secretary, . Treasurer PATTERSON HAS MET COUNTY DADS BEFORE Has Had Previous Exnerienoe in Disputes with County Officials. SOMETIMES HE LOSES insult to the intelligence of the com missioners. ' 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 liliiiiiiiiiiiiiiiiiiiiiiiiiiiitiiiiiinii Bankers Sayings and Loan ! Association ( 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 12,705.72 915.22 426.67 Delinquent Int. Taxes Paid Cash, Office and Bank 21,633.25 ; v ; $443,863.53 Capital Stock $415,287.30 Reserve 1,753.57 Profit and Loss , 23.92 Incomplete Loan 26,798.74 $443,863.53 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 c. . 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 Treasurer ....i-, Attorney X ' 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 iilniiiiilliiliiiHiiiriliiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiirni!tiiiiiiiiittiiritiiiiiiiiiiiii!iiiiiiiiiiiiii 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. ItlllllllllltlllllllllllllllttKllllllllllllllilll Statement of Nebraska Savings and Loan ( Association j At The Opening of Business, Jun 29, 1916. , RESOURCES. 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 paid 04 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 . Reserve Fund Undivided Profits Incomplete Loans $1,161,690.28 .$1,0R7.9S7.77 17,172.67 5,303.69 . " 61,276.13 $1,161,690.26 July 1,1908..... .Tuly 1,1907...,. .Tulv 1,1908 July 1,1909 July 1, 1910 July 1, 1911. COMPARATIVE GROWTH RESOURCES. 137,914.47 July 1,1912.. 149.143.96 208,049.79 240,906.93 370,663.62 446,561.42 July 1, 1913. July 1, 1914. July 1,1915.. July 1, 1916. . 6flfi.R6t.79 692.460.13 R2K.194.RS , 964,171.79 1,161,690.26 , 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. a Officers and Directors t Thos. A. Fry Bobert 8. Wilcox. . John It. Brandt O. B Hsverstlek.. ...... President .Vice President ......Secretary .Treasurer Edtu M. Morsmaa, Jr Attorney O. D. Kioltnter. Bartholomew Julien, W. G. Ure, Thoa. P. Godfrey, Byron R. Hastlnfrs, Thomas J. Fitsmorris. Sanndera-Kennedy Bid, 211 South 18th, City Hall Blk. tlllllllllllTIIIIIIttllltinilllillltlHIItllll! ll)ltll IIIU(lllllllllttlllllllllll1tllllltlllllfll(tlltlll llllltlllllllllllllllllllllltlllllllllllllllllMllllllUlllllHllll Financial Statement of I The Conservative Savings and Loan Association lLJlltll 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 undivided rronis $9,642,551.13 1,544,300.00 57,304.77 117,346.45 81,000.00 .............. 150,000.00 183,292.35 ,742,948.58 $12,518,743.28 $11,830,028.63 352,792.69 320,000.00 .. 2,260.40 13,661.56 , :- $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 - Resort Dempstnr - - Byron R. Hnatings . H. A. Thompson. Wm. J. 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 filial ilijaiiiiiltaiiliiaiiliiliiliiei!