Omaha Daily Bee Newspaper, December 18, 1892, Page 10

Whge ngi «“the CO-OPERATIVE NOME BUILDING Buooessful League of Tocal Associations, STATE REGULATION AND EXAMINATION | Good and Tad Features of the Present State Law-Amendments n- ddress by Experi- Associntion e Suggested The first annual convention of the Ne. aska State T of Tocal Loan g Building associations, held in Lincoln Tuesday, furnished gratifying evidence of a general awal mong: co-operative build- ing socicties. Every as tion of the league was represented and considerable business was transacted The constitution of the state league, has- tily drafted at the preliminary meeting in September, was materially altered. A pro- vision was adopted under which the lea \der every possible aid in law ed from district courts in which involved are by the executive deemed of general interest. The ciations will thus receive ma ning rue cases apj the issw committe ance in prosecuting in the state | supreme court any of the general questions affecting building associations. Another change excludes proxies in the convention, and another makes the sum of annual dues in proportion to business transacted. Benefits of Co-Operation. Thomas J itzmorris of tof the leagne, delive llustrating the benefits of building tions, the defects of present state the nec ity for more effective vision, “Co-opes ¢ building suid the president, “may justly public benefactors. Tlicy law and state super: ssociations, claim to be make homes none Tew before. economy among bread- | the struggling by easy steps from the ctions of the landlord to a position ot independence. They and foster the desire for home in every heart and lead to its fulfillment. They are a di- veet, positive incentive to individual pros- perity, and consequently an important fac- tor in the permanent growth of the com- munity where they onomic movement combining suc bilities for the public good should ‘with e afeglard that honest, disi ested forcthought and experience can su gest. winners. The State Law. n the main the Nebraska law governing building associations v an effective barrier to fraudulent con: its provisions were diligently enforced. urged that one feature of the was_particularly obnoxious. A por section 2 permits associations, if so dis o0 tax withdrawing membirs rata share of expenses “and 1t developed in the di that this provision was worked into tho bill swhile pending in the last legislature by a Jobbyist who claimed torepresent the Knights of Labor, but who in rcx the Jowa Nationals. ) the law placed a premi association hone 4 provision so unf He law red No force is dec n on dishonesty. 1y conducted would ¢ . Yet there are a few h not only sexpenses it ;\;:1\‘::7.? 0 ¢ ChrgRsy Jud .}\u\\m..\hm/u drawing stockholder ment until he is ready to sell his claim for pittance of its logal value. Instructive Examples. An example of the feature of the law vience was cited. with delays i ps operation of this taken from actual expe- An investor took five shar tock in a state national, paying | £10 initiation. Monthly payments amounted 10 8120 per shar o theloan fund and 20 cents to the expense fund. The to payments in fou amounted to for the privilege of withdrawing he #2. Out of the total of $300 paid in, the investor reccived $298.40, including 8 | cent interest, a net los i shares in genuine local as for four netted an inve investment paid in monthly in- stallments The cxamples cited illus speculative and co-operative building associations. The a legalized rvemnant of foreign as- soclations ~which have taken 300,000 out of the state and put most of it beyond the reach of investors. Long on Promlsecs. Strange us it may appear to those un- familiar with the methods, the concerns which refund the smallest amount promise the greatest returns to investors, The high- wayman who per ted traveler to give up his purse sec he amount in vested in a reve o 3 S0 y equalling the S of the average national, *You don’t have to die to beat this ganie,” was the significant phrase used in the early days of the Iron Hall. The motto developed ‘into a prophe: Many thousands of people who wanted to get some: thing for nothiug can testify to the melan- choly fact that the ofticers did not die in order to beat the game. The lesson expericy Epeaker, in conclusion, @nact laws which wi afety for the savings of the wi ;t i8 not expected that the state will act uardian for fools with money, but it is i uty to legi rainst fraudulent conc seeking business in the state and to st ently regulate and superviso all financ stitutions organized within its confines, especially those intrusted with the savings of wage carners.” Bullding Assoclation Loglslation, Mr. C. . Bentley of Grand Island, the well known' banker, read vefully pared paper on building association legisl tion. Mr. Bentley is a diffe loan and former is teaches, 1id the Oonvention of the Nebraska | important | was working for | eCONOMic movel st in their development in N 5 iovs are entitled to gry “sveight. impossible he to do more | than outline the chief points of the |d|v~. What the state shall do for its citiz and how far it shall intertere with Lhn-u actions, are two qu ions that confront | alike the practical legislator and the student of the science: of legslation, Theoretical answers are many and varied, tical answer is shown in the of today, which is strongly of enlarging the limits, what the state does and what it forbids One great field of enlarged legislative acti ity has included m muking it p Aor individuals to associate themselves in form of corporations for the purpose of carrying on enterprises that could not well be conducted by individuals. One class of corporations that seems to have chiimed special attention ¢ of co-operative so eieties. The i are composed of a number of pe generally of limited means, organized for mutunl henefit would scem at first t eht that all th need do for such nssos thelr formation, but e *many of them embo ations from the funda ation, which require lo What the State Should Do. In determining at the state shall do and what restrictions it shall impose, a kpowledge of the wants of the as sociations and of the abuses and rvorsions to which they are subject necessary. The experience of the past ten years is u safo guide, The fivst thing that can be done is to itate incorpora tion, to exempt them from the oporation of usury laws and to legalizo certain trausic < tlons with minors and marvied women. | mml laws now comprekend the followi ures: 1. State vegulation and examination 2. Holding associations to the truo stand- ard of co- mjmml.hn. 8. Forbidding the introduction of burden- lnmo nnd (nuqmublo features iuto the plan nization. trictions tending to secure safety llld solvency. Bud Features of the Law. With regard to the Nebraska law, Mr, Beantley thinks it satisfucto y in mwost re. spects, und has done u great deal of ood in Flfl!"ug the people of tho state against additions to and devi- ental idea of co-oper- al vestriction, extortions and impositions of psuedo uilding associations. 1o make it as nearly L as present conditions warraut, it | The | ily bl INeCt of | thei innoce uld be amended as follows: 1. Limiting capital stock to $2,000,000. At 'r-um thero is no limit. 2. Requiring associutions to pay withdraw- ing _ stockholder an profits Providing that net re ve fund, &l equitable share of profits, except tho all be divided ratable among all members without distinetion 1. Prohibiting expense fands. Prohibiting the circulation of prospe containing promises that are imc of fulfillment Requiring foreign assocfations to refile coples of incorporation etg., when applying for a rengwal of cortif giving due to the dangors | and annoyance that from attempting to regulate every trivial matt by law, it must still be remembered that in an or ganization that undertakes to invest the sav inzs of the wage earner, even trifling devia tions from the correct path are sometimes attended with danger, and that the way must be marked out very plainly if devia | tions are not to occur. Law Points, M. W. Carr of Omaha many legal questions raised which loan and buil associations are in volve While yeiations endeavor. to void litigation, it is necessary to frequently nforce contract rights against borr In all such cases the vital principles of co operation are atta Fortunately the vast majority of the precedents established by courts in the I states sust ciations in all important points generally hold on the main point of that of usury, that co-operative building ations are in the nature of a copartner A member is necessavily a lender, his money in the association and in the profits. any time he be borrower, he not lose his as a lender, becanse he is still a sharer in the profits, He is ther pped from iding usury Some eiations | however ken their defense by enforc- ing exorbitant fines. Fines should be reason able, and should not be multiplied every month on installment romaining unpaid Mr. Carrr eviewed at length decisions rendered by various courts, and success- fully parried a running fire of questions. Practical Operation, Mr. G. M. Natting of Omaha followed with a paper on the i 1 and building association lentified with association work in this city - ten years, his experience and recommen- dations are of general interest, “If there is ing that should be specially and building associations,” it is the tendency to loans; consequently eve bylaws should be so framed as to nonborrowers, at the proper period, to borrowers, or o accept the amount sonable rate of A 1 into the rut of apportioning all premiums to earnings ac count, when not to exceed one-eighth should be apportioned the first x A most im- nt question now is o ascertain a cor- ple method of formulatin; ' spondence with torn se o to throw light on the question r. Nattinger recommended a fixed rate of cmium wherever practicabje, decming it the most equitable system. It was his_ex | perience that a borrower who really needs a small home is a more ron than the member who wants a commodious house A genceral discussion followed, cov whole range of co-oper i ractices, and was part discussed the in court cases in wers duce becorr sles and ipated in by Mosss. C. F. Bentley of th Omahs of Omah exceutive committeo o tution and bylaws for Nebr pare amenc in pamphlet H-.A;o:‘sv‘zw national and 1. building and loan assoc Chicago next June, The ofticers of the league for the ensuing : President, Thomas J. Fitzmorris, | maha; firsy v ent, Charles J Phelps, Schuyle lent, D, J. Willey, Wi ident, G G. Beeeher, Columbu i treas- urer, (. W. Brininger e EDUCATIO the_‘eolloze yoll” university, Kentucl B x, Kowax, Br _ Woopp, W ft lnnnl\l consti- sl associations, nents to the st v, L0 form the proceedings and to appoint deleg Imxh to be held in of the Central clety, [ deoty, Kax, Kowax, -opp; Hullibaloo—C! \uul tions are being laid for Harvard’s new Bruce photographic telescope. This is 1o have a twenty-four inch object glass, mak- ing it the largest instrument of nd in the world A proposition has been made to endow a North Carolina college by insuring, the 1 of fifty men for $10,000 cach, and a% they are gradually worked off by Father Time the fund will ace Boston un comprehensive univ fter the famous, s Just established a ) ttlement modeled Toynbee hall in White- apel, London. The region chosen in Bos- ton is Poplar strect, in the heart of the West End section The registration in the iigan up the Thank 2,679, distributed aw, 004; medi 80; homcoy that the University of ving re vas i ion for the year will exceed ent rate of inerease is main- Great_effort is being made to_intere: women in legal study, aud at the New Yorlk university a cowrse’ of free lectures | been inged, at the close of which certifi- cates of proficienc 1 he arded, Twenty scholarship: wo university and the tional society to the student pa highest examination. Tho famous Bryn Philadelphia lady, Dr. Kate danghterof a p course had ~ practi uce in 1d dispensary in Bostou, then took ics under Pro sront, and finally land, France, Germany and to ‘study her specialties still Woman'; Mawr school or its medical dire rmpbell Hurd, who near Rogers of New York, in behalf H. Rogers, jr.. and hi H. Rogers, Mrs. Carra Mrs. Aun F. Rogers Ben- a deed of trust to the rhaven recently of a library building known as the Millicent libr named for a deceased sister of the dono library is to be cared for without ex pense to the town, a fund having been lished for the purpose. The building is to have cost over 100,000, and will con an elaborate memorial window, “The report of the superintendent of public ruction of Wyoming gives the following '\u iber of school i M nu pI* 8 s taught employ ; pupils envolled, wages paic chers, #5428: average cost per pupil, otal cost of the schools for 4.08. The report shows an of about 20 per cent in the attend- that of 1890 and about 15 per cent iu the wages paid toachers. ik spist ot i THE CHAMPION HUGGER. stive Texan Hugglug G tho Wholesal cece, 8 music dealer from wis committed for trial m n the charge of hugging a in_that city. At the preliminar hearing he had a large number of friends on ud 10 testify to his good character, his ex- cellent bus lifications, his good faw- Henry b Dalla Xy New Yo <l.|u).l|lul zainst the pr Justice Ry eived from sdward B. Morgan, in which the asserted that he had soen Freece fifteen other women in Twenty-third street in the same manner v Mh Hu\\‘;nd 1 by calling it ‘em- e, Morgen, “is putting it Howard of Brooklyn und her ontrary, the evidene wis very conclus read a lette wan who signe On nm‘\ll«'l 100 1wl H. 8. Gordon, o Fifth avenue piano dealer, protested that Freece must cert iul{' be in- nocent: that there was nothing in his past conduct to warrant the belief that he could be guilty of such actions, ele. Froece is Mr. Gordon's Texas agent. SIf," said Justive KRyan with impressive earuestuess, “this mai is the paragon of ex cellence you would kave we believe, his ve- fined instincts should revol: agafnst the orpetration of such disgraceful conduet. 1 the prisoner in §500 bonds for trial.” 1 operation of | Having been | ng the | iscellor, w. Freoco is about 5 feet 7 inches tall, with brown oyes, smooth skin and a fine prodle. THE BEHIND TODGE ROOM DOOR Minnesota Preachers Tssne a Bull Against all | Seeret Soclety Organizations, ALL ORDERS DECLARED AGAINST CHRIST | ! \‘ Some Resolutions That Will Inte Kiders—What the So of the State and City Have Been Dolng Past Week, ot Gont During the The Minnesota Christian associa name of an organization which | ence in the state of Minnesota | held a session at New London The association is n is the finds and recently in the county wn organ and vn of secret exist of Kandiyohi ization of the differcnt | has for itgobject the crying d fraternal societics. A s adopted, and are as ©llows Whereas, The overwhelming importance ¢ the Antl=steret reform fs but very partially realized; and, wherens, there Is a deplorable indifference 10 the subjectamonz the majority of the ehurches of the fand; Resolved, That wo endeavor, by the Foise the nttention of pisto and dangers of the secret loda denominations First to the system Second-—Resolved, ovil hat wo commend to all tors favorable fo this reform, wisely and discrectly, hut faithfully, to Insteuct their MEIDEEs 48 1o the evils of secretisi, and o jolt upon them to do the \eir chil- dren, especiully by versation and the faithful cts upon the subject Third-Resolved, TI less antagonism o anly way to salvation croind of our wiifar Fourth—And, Whereas, F before s, as judged by its own system of false worship - the wieked spirits and wieked me vived by a company of “pothouse conipin- | fon oon lonfers, fn a London gin shop, it of our Lord 1717 and, wherens; this system of false worship has perverted the bible to §ts own purposes in the alienation of the souls of mankind from the only true God and Father of out, Suvior Jesus Chirlsty by the substitution of a false refigion foundéd upon the” enormous falsehood invented by thom- selves ahout the bible, n that during the building of King Solonion’s temple, Hivani, builder, was murdered, and aftor being ad fourfeen days and his hody “in a high to of putrefuction,” he was ralsed from ith 1o life King Solomor W this hulono rreciion IS substituted by them rection of our Savor, the and, wherceas, it app printed 1 work no sonating the whon they identify with the prined of devil e point withi e by private o distribution of tilie bitter and relent- tism to Christ, ns the ould be placed in the agninst the Toc writings, a invention 'of i thit re- e perso s of g theathen s 1l nhot e pireta ke 1 Lord and the tabloot (o devils” (1 we obey (he in o fellowsh! rkness, but 11, Criptite itful prove the whercas se liowship and Kni nd proclaim the idc Wlist of their own eties with which Fr disfellc all secret rs in thelr | ftl such as Odd [ Py thias publish f Ll 3 dis- <hip and have societies that exprosd nles to wand people wh 1'this convention. was instrueted to tion to be held Minncapolis or St. Paul in January or February next. Im ved Ord ted Men. The annual meeting of the Great Council of Nebraska was held in Lincoln November and 23. The session well attended and there were the most encouraging re- ports from all over the state. The repor the great chief of . wpcord Flana showed fourteen the reservation, with a of mearly 2000, and - in pidly e following great chiefs w clected and raised up: Great sac Hotchkiss, Lincoln; great . A. Tucker, Humboldt; great junior “mor aruer, North Platte; chief of agan, Omal kecper of Eaton, Lincoln; prophet, J T. Hedrick, Tecumseh’; representative, S Dennis, Lincoln. The next meeting of the il will be held in Lincoln on the in November, 154 tribe, No. 2 in the slecp of ‘the Witlinin Vouss: Juni ne; keeper of wampum, chicf of records, F. G. How" M. Butler. rowing in membership very and it is expected that another nized. The regular mecting evenings at Red Men's hall, Continental block. ell; prophet, The tribe is idly. Knights of Py sylvan lodge of Genoa has lowing ofticers for the ensuing year McMillan, chancellor commander; A. Taber, vice chancellor; L. G. Fle prelate; William Kennedy), kooper of roce and sea . L. Harr Wake, master of exchequer; M. I, master of fi nce. The Greeley lodge hi ing ofticer: : chancellor ¢ chancellor, Smith; master of recor Olson, elected the follow- D. Connell; rms, H. keeper R. Swain; master of noster. of finanee, T. J. Doyle, H Young, W, Mount_Nebo chosen the_following ofticers: Knowlton Cone; H. H. And Arnisbeng mander, E. 1. t-arms, W. I’n Ll\um\\‘ The oftice will be stalled the first Tuesda in- The order continues to grow in ship in Nebraska and new chapte organized all over the state. Thu evening the grand matron, Mrs, Billings, assisted by four members from Hebron, or. nized Vashti chapter, U, D., in the M sonic hall at rbury. The chapter s with a membership of *forty-two and w hold meetings the second and fourth Fri- of each month. The officers elec h-d follow: Matron, M son; worthy ron, John G matron, Mrs. Dr.’ Dodge; treasurer, member- re being Sarbach; W. Mason: Ruth, Mrs, R ,\unm\. Effie Hanchett; Martha, Mrs. lecta, Miss nthia Brock Dr. Pritchett; rden, Mrs. James Jackson; sentinel, K. L. Cline, Koyal Arcanum Union F fic council, No. 1060, annual election of oficers Monda, with the following result nt, A. P. Counor; vice regent, st regent, J. B. Sheldor held it L O. Dyball; A L Willi Hutch suido, Knoxall counc has elected offic l'urllw onsuing year as follows: Past ent, John Martin; regent, H. J. Reiser; vice regent, J. C. Ca tor, William Goodman; treasur Sipe; secretary, C. L. Mullen; collector, T, J. Laur; chaplain, M. G. Zerbe; guide, Will Burger; warden, Lou Martin, Royal Are ) At the regular convocation of Damascus chapter No. 25, held Mouday evening at Nor- folks, the following elective ofticers were chosen and will be installed January 6: W. Hermau Bucholz, high priest; ernest H. Tracy, king; Silas G. Dean, scribe; George L. lles, secretary ; Samuel W. Hayes, treas- wver. Installation will take place at the January 6 meeting. itions were sonty stinids | OMAHA DAILY BE TWENTY-FOUR I treas | x G ntt (W Ih.mx.“-- ary. The install 11 be held Tubkday, January 10, Keottish Rites Masonry Council of Prifices of Jeru and Accopted Scpttigh Rite of the | States jurisdictign $f this city | officers Thursday % x; | follows: H. W Ancie: clocte ning, Decomber S, luuu Hagkell, G. H. P, D. (. M M. i SI, Wi dohn Tamiito M. E.JL G Wt Adolph Meyer, V. G. tre urer: H. C. Bar Baker, M. of C.i W. D, fred Jeffrics, M. df ¥ | s | Independ 1‘,!'1;l<-rlh|d| Tows, | The memt of Shelton lodge, No. 14 the following officers install them the first Sat ary: A, Meyer, N, G Mitehell, K. S ph Nixon, treasurer: A. N. Murphy and Joseph Owen, trustees V. G acy: M Almoner; / Qeere | have selec and w rday 8. 8 evening Allen, CONNUBIALILIES, Van Gilding | 18 your inferior? have to Could you marr, Prutiella—T sip 1 man wi pose I sha A wedding notico in a Maine paper th | other day ended with the is, “No 10 cake, nobody’s business, ™ Al fo linve mer: hiteh your chariot t 2 policeman wirl is sald s injunctio ar, by marrying The engag | 1sabel Bartlett, | Herbert Cheney | I really « s noted Brooklyn belle, t Cheneyvil uldn't have refused Jac racefully! Hay—No wor 1ots of practice , Conn | ¥ announced of Mi er of Attorney Ger rd Arrick of ement s rence Miller, dangt | eral Miller, to Mr. Cl | ington trian courts of lav ; the part of a bride the marringe, Miss Maud Lotilla v, both New Yorke early in February and moon period in Florid A Manitou, Mich.. young woman recoive aletter from a Kansas man, in which he di voted seven pages to telling of crops and politics, Tn o postseript he hie would like et to marey him periodical of Chicag unusual extray ing with M Gibson if & wi v, 4 widow. is sufiicient to invalidat and Mr, T. Suffer are to be ma s days of by elo) sed several nce in Canton, O, John Gibson » tehmadker, and his mother-i been living with him cmploye on a W stole a kiss from a ‘ty pas: s Th ung la d the company for damag and . ded $1,000. With th thus obtained, her lover, a youn tablished himself in business, couple have become wealthy Emma (who has over £20.000 o yes own)—Do you think, IPanny, that me for myself alone! Manny (who has ha experience)—Yes, indeed!” Of course h cannot marey your money without you I really think he would as soon love yo with it} and that is a very passionate sor of love—for & mun, ‘The marriago of Mps k Worth White to Mr. Foxhall Ketne in weelk was a quict i{ifair. The hride wn of pearl gy cloth with a b long waist. The sleeves, which we and puffed,” were of velvet, a shad, or than sigirt, and a deep collar ame material “was edeoc o anre e ey ST STl vor Tt e nd pearl gray gloves Hed the outfit. The engagement of Miss G sister of ) Hon. becau an a R.T. W and thy the ngz, of London is broken off S T St e ble financial arrangement with Mr. son. An Inglishman in eyvery case demands a dot with'a millionaire’s dauzzhter, and, in fact, will npt o without the set” tement on himself fund “wife or u compe- rt of LLH\* Rock. d as being nefther Ark., who is wood looking nor ing at the rate of 1uce , 191, without, wait- th ov the divoree courts to He has muri county in Arkuns: girls thrown i with Miss Della Daws Missouri, last May, shortly afterwards. One thousand, one hundred nine pounds of avoirdupois wer in _the couple who wer Huber’s museum in New Yor The bride’s name was M She is now Mrs. Chaunce wore a white satin dress cut bengaline o i groom is ratlier a heay . would be ealled chunlily built rayed in the conventional black. 1t has become quite an IKnglish and Ameri- can custom for the bridegroon to give ven come ¢ often of value. brooch i free him ever 31 of Ripley whom he id seventy- sented incesse, with Tho bride- n, or \\)mt He was club or isa horseman, or has any decided fad, he gives a gift b is colors or emblem There are many in_bridesmaids’ jewelry, supp the sentiment of the oc a bell for the bangle, toric bell and coyered with insc good luck and good wishe: The desperato surugglo for a renewal of the Joys of health is a spectacle most paintul to benold. Every victim of Nervous, Chronic —AND-- Private Disgases ' knows but too wdlll the horrors of that almost hopeless tombat; and every one of the many thousands who have beon completely curad ot these distressing and dsngerous maladies by these un- rivaled specialists, the famous i Bettsebe knows the inexpressiblo delight of & real and permadent restoration of that priceless boon, goodihealth. 1f you are wmong the afiicted ones, consult them ut once, Fend 4 cents for a copy of thelr lllus- trated new book of 1% pages. Consultation Free. Call upon, or address with stamp, Drs. Betts % Betts 119 South 14th Strest, At & regular convocation of Hastings chap- ter No. 21 the following officers were elected far the ensuing year: W. 8. McKinuey, high priest; A. R VauSickle, king; W. H. CORNER OF DOUGLAS 8T, OMAHA, = = NEB i \ Owen, . S i . QUITTING. carried ou concealment of age on nd her n\nvhv\ ronsin line r of het he loves SN ONASEN JEWELER, [ ' STORE FOR RENT. XU UWINES PO SA L, \ Wash ) AVING fully made up my mind to go out of the j cwelry busi- i ness, | shall not allow anything to stand in my \m) looking to- rried will pass the honey ward a cle an sweep. The stock of d | N | BOLD or 'SILVER i CLOCKS, DIANMONDS | i NNDE e e n'Goelet of New York, to | ALL JEWELRY | of whatsoever description must be gotten rid ot before the first day of (January next, and I know of no more effective way than for you to YOUR OWN PRICE. i\Vith that object in view you can, between the hours of 2:30 and 5 and 7 and 9 p. m. of any weck day, pick out what you want and hand it to the auctioneer, who will offer it AT AUCTION at once. The store is open all day from carly morning till late and those who prefer can make their purchases AT PRIVATE SALFE. LLADIES DAY Monday. At all times ladies are welcome, but they are specially in- vited to be present on Monday, when many interesting novel- ties will be shown, - name at night No finer line of jewelry and all else that goes to make up a first= class stock can be found, and when coupled with my extraordinary low prices, you can not afford to miss my sale. B, The genuineness of this sale is without qu-stion, owing to circumstances over which I have no control, Convincing evidence will be given, however, to those who call, S. JONASEN, 1311 Farnam Street.