Omaha Daily Bee Newspaper, July 2, 1893, Page 7

CO-OPERATIVE HOMEBUILDIN ‘apmhfin Men in the Movement in Oongress Assemblod. PLANS AND POLICIES ABLY DISCUSSED lous Growth of Ballding-Loan As- soclations, the Various Systems In Vogue and the Benefits Acornlng— State Supervision Urged, 12 The first national and internatinal con- gress of representatives of local building- loan assocfations was held in Chicago last woek, Fifteen statos were represented by del- ogations from state leagues and several rep- resentatives were present from abroad. The Nobraska State league was not represented officially, but Messrs. G. M. Nattinger and Elmer E. Bryson of Omaha attended the mootings for the purpose of gleaning new tdeas from the older and more expericnced assoclation men. They report the joint congress a success both in attendance and enthusiasm, and are confident that its de- 1iborations and action will have a beneficial efiect ana result in harmony of action on mattors affecting building-loan co-operation. The United States League and vhe World's " Cungress wore practically one body, except that in the latter foreign associations were represented, Judge Seymour Dexter of El- mira, N Y., presided over the deliberations of both. ‘The papers read and the discussions cov- ®red overy phase of the building-loan move- ment, and represented the experience and ripest thought of men who have devoted /4 ‘yenrs to tho study of this form of co-opera- /'fion and its practical operation. It is impossible in the space available to ivo & genorous summary of the proceed- ngs. A briof review of the principal points ‘epitomizes the trend of opinions expressed at both gavherings. Patriotic Movement. In his opening address President Dexter Yeviewed the hrrth and development ot build- ing-loan associations, and emphasized the fact vhat they have made Philadelphia the city of homes. From its bivth in 1831 until now the movement has been one pre-emi- yently stimulating the spirit of home own- ¢ ing and home getting. No form of direct co-operation among tho many which have sprung into existence has “been so uniformly successful throughout the whole period of its development. If he were to choose & motto to hang in the meet- Ane room of every association, to be hung in the hall of every state or United States league meeting, to be printed in every asso- cistion pass book, upon avery copy of articles of nssociation and by-laws distributed, upon every certificate of shares of stock issued, upon every sheet of advertising matter, it ‘would be this ¥ THE AMERICAN HOME THE BAFEGUARD OF AMERICAN LIDERTIES. The country's growth in the last decade, the economic conditions induced by steam and electricity, the teudency to centraliza- Tion in citios, were reviewed by the speaker, and from them'were drawn the lesson that health and prosperity were endangered by the massing of population. The develop- ! ment of rapid trausit is a modern safety walve, and, coupled with co-operative home %uilding, enables the workingman to go into tho suburbs, where land may be had uv o reasonable price and homes erccted at ren- sonable cost. There he can rear his family in pure air, have a grass plov in his front ard, with its flower beds and shrubbory,« lero he can: have a home; there he can enjoy true family life and comfort and see (his children away from the din, the dirt, the #oencs and foul influences of the busy mart. Assoclition Statistios, Until very recently little attention had' een given to the statistic side of the build- ing-loan_movement by the national govern- ment. The data collected by different states avore fragmentary in character and conveyoed 0 adequate idea of the advance of associat tions. To remedy this Carroll D. wright, superintendent of the United States De- partment of Labor, undertook to collect statistics concerning home associations, and presented the result in a paper read be- fore the congress. Mr. Wright explained that tho department was conducting an ex- haustive investigation on the subject, but he final report would not be presentod be- fore noxt year. From the incomplete reports it was shown that at the closo of 1892 there swere 5,800 associations in the United States awith 1,650,456 shareholders and net asscts of §500,028,405. Pennaylvania hoads the list with 1,100 societies, 254,018 shareholders and Tet nssots of $80,860, Ohio is second, with 723 associations, 227,585 sharcholders and 59,204,820 net assets. Illinois ranks third, with B18 societies, 146,571 shareholders ,and $5,591,888 net assets; Indiana has 350 ssooiations, 90,157 shaveholders and §1,- A 200,550 assets ; 1o va, 100 associations, 86,805 shareholders, 80,049,810 assets ; Missourl, 418 associations, 74,020 sharenolders, $35,446,420 assots; Michigan, 99 associations, 27,008 shareholders and 38,505,207 assets; Wiscon- sin, 07 associations, 18,033 shareholders and £381160,089 net assots; Nebraska, 71 Bssociatlons, 45,0121 shares in forco and assets amounting to 82,002,557, Connecticut, ~ New Hampshire and Rhode Island are at the foot of the list. At the present growth Mr. Wright said these associations would soon rival the savings nks both as to deposits and depositors, At the end of June, 1892, there were 1,069 s iugs banks in the country, with 4,433,217 de- itors and $1,712,700,217 in deposits. M. right's flgures were shown .by soveral delegates to be very conservative, In Phila- delphia alone the accumulations in twelve ears ranged from 500,000,000 to §700,000,000, ?l'ha assets of Ohio associations amounted to £70,000,000 instead of #9,000,00 and the figures for Indiana were short $5,000,000. Division of Profits, George F. Penfield of Illinois presented a per on “What is the True Basis for the PiVision of Profits und the Bost Mothods tg Bo Pursued in Making the Division?” The firat and most important thing to be observed is to divide no more profits than were earned. ‘Care must be taken to charge off all exponses and lossos, and to set aside as » liability all unearned premiums. ‘Lhese important fea- tures were somegimes ignol by secre- taries and lead to embarrassment if con- tinued long in practice. 1t should be against the law, of cvery state for associations to pay out protits not strictly earned, and a prescrivbed formuli for ascertaining earnings should be ircorporated in the law. There uld also be sei aside as a liability all in- rest paid in advance by borrowers, all earned interest for which the association may bo liable on account of borrowed money, and finally there should be maintained a ro- wye fund equal to all the l)rohxmla or possi- ble losses by reason of real estate on hand, Mr. Ponflold argued 1o favorof a grad- usted dividend “scale on withdrawals whereby stock, say less than years old, shall receive buck all installments paid, and 4 por cent on same for the average time in- vested ; stock 3 years cld, 8 per cent; 4 years old, 7 per cent;d years old, 8 per cent,eto, This leaves the association & margin 1o pro- wide for possible losses, and at the same time does not make withdrawing members foel as though thoy had been unfuirly dealt with, For the “aivision of profits, two methods were availablo—the partuership and the compound interest plan: The first 5 48 thus explained: Multiply installments ' glu. counted full paid) by the average time vested, add results for ‘;M\wt of results. Multiply each result by the total gain since organization and divide in each cuso by product of results. The quotients will be eazh series’ gain. Divide each series' gain mber of shares in that series to Inr-ruflun. This bas in it the rance of o By compoundiug, the method is: Profits » e dulflbu&lfl the form of a dividend 10 the value of each shire outstanding " which bas not matured. The dividend thus added toeach share shall bear the same \ ute of pervcentago 1o the value of the share m& :nu‘ l:uu'l ‘“f' m,. wl ‘lu!’ dh:rlhuled ’ 0 the total value of ull the shares Lo which the distribution is made, :;- Slmple Rules Mr. Penti paper was suppls with oue on the umc‘.:uhhm lkfifififif THE OMAHA DAILY BEE Morgan of Indiana, in which the following rules were commended : The first division 1s to st aside n small percentage for contingent losses. Then the net profits should be divideda pro rats among all shares so that each dollar will earn the sumo rate per cent for the same time in- vested. Asa simplo equitable rule which may bo applied to any association the follow- ln? is submitted. To find the net profits: From the gross profits earned during the torm deduct all expenses for the term; do- duct interest on borrowed money, if any: do- duct interest on special deposits, if any; de- duct interest_on patd up stock, if any. The remainder will be the net profits for the term. Deduct the percentage for contingent losses, if the association provides such a fund, and divide the remainder pro rata among all the shares. 2. To find the capital invested for the term: Find the value (by the last report) of all the shares still in force; add one-half of the amount of current dues on all share: 8. To find thoe rate per cent of @ain: Divide the net earuings by the amount in- 4. To find tha value of a share: To the value atlast report add profit on same at rate per cent earned; add dues for the torm and profit on dues at_one-half the rate per cent earned. From this one may easily find the value of a series and the value of ali series, or the total capital stock. State Supervision, The congress was a unit in favor of state regulation and supervision. Supervision must be thorough or it is worse than none at all. Examinations should not be made simply when called for, but should be posi- tive and compulsory at least once a year. Sound institutions “court it, the dishonest alono fear 1t. The necessity and advantages of state supervision was ably set forth by Mr. C. R. Hall of the banking department of the state of New York. While he dia not beliove that supervision could wholly pre- vent fraud, thero is no excuse for not proventing ' as much as we can. To that end he wurged the ‘‘need of competent, thorough examination of all fi- nancial institutions upder tho authority of tho state, whence these institutions got their vower, inclusive of building and loan asso- iations. hat supervision to be satisfactory ‘must prove liabilities as well ssets, it being as necessary to know the amount of due and uing deots as the value of assets. “That no clerk or employe in the financial institution should be allowed to keep a check account in it. _*“T'hat the transaction known as tho ‘rob- bing of Peter to pay Paul' being so apt to stop after the muloting of Poter, all bond schemes sailing under whatever banner of ¥, should be proved by their results: *‘Ihat no institution, under whatover name, by whomever conductdd, is entitled to coniinence that depends upon paying the ob- ligations of one member or set of wmembors from the contributions of another; “And that no supervision atall is botter than incomplete and incapable supervision.” Local ana Natlonal, Judge A. A. Winters of Ohio gave an in- teresting review of tho growth, methods, failures and dangers of the so-called na- tional building and loan associations. He recapitulated the well known and apparently overwhelming reasons why well informoed building association people looked upon the ‘“nationals” with so much dishke and fear, The parent of the national schenes operated in Cincinnati with astounding audacity and ingenvity and robbed right and left. Nearly all the other “nationals” were pat- terned and conducted on the same_general plan, Judge Winters claimed that the economic obstacles to the suc- cessful _conduct of o national ussocia- tion were insurmountable. His views were forcibly seconded by Judge W. T, Dunmore of Utica, N. Y., in o paper on “The Princi- ples, Possibilities and Limitations of Build- ing and, Loan As Referring to the *‘national” an toms he said: ““I'he building and loan association is a c opérative nssociation. and from its very nature its membership should be confined to |t persons living in one neighborhood. The great part of the management is gratuitous and done as an act of benevolence. The main source of profit must be received for the use of money loaned. The members should liveso near that they can see upon what se- curity their. money is loaned. They should be personally acquainted with the omicers and familiar with “their business judgment. ‘The irvestments should be made in the im- mediate neighborhood where the investors live. They can then see upon what security th money is invested. Loans made at a distance must necessarily be made at a great expense to insure safety and besides are subject to many hazards. Those at the head of the movement today are charged with an important duty. Those who would see this system preserved and continue on in an ever increasing ratio of success must make a constant, earnest and porsistent fight for safe methods and honest practices.’” Premlum Plan. The premium plan of loaning money as generally understood had no advocate in the coneress. The injustice of the premium was the text for a vigorous address by Mr. Charles K. Clarke of San Irancisco. Tho premium system, he said, when not properly safeguarded, s opprossive to the meedy. Borrowers, driven by necessity, bid too high in order to securo priority” and soon find themselves paying usurious interest. Mr. Clarke sald the tendency was toward a bet- ter system in the management of premiums. How to administer the affairs of building associations in such a way as to secure al- ways to the members the benefit of the equalized tendencies of co-operation is a problem for each association to solve. Judge Dunmore of New York said he would like to see the promium abolished, be- cause it led to abuses by men masquera in the name of building end loan associa- tions and also by some building and loan men. With the premium abolished they could determine who should have priority by the rate of interest. If they were to have tho premium system they should agree on a form least liable to abuse. Judze Royce and Mr, Huffman were also in favor of the abolition of the premium plan. Chairman Dexter remarked that a pre- mium had no place in his conception of a buildiog and loan assoviation escept as de- termining the right of priority of loan. Fundamentally, it did not belong to it, was not an essential part in it, ana had no place in it except when two or'more sharenolders, equally entitled to borrow money. wanted to borrow the funds at the same time. The premium had been used to bring building and loan associations into disgrace; it was the principle which underlaid and made pos- sible the natioval building and loan associa- tion scheme, and on tho othér hand it had also stimulated the spread and growth of local institutions. The gross plan adjusted & great many questions that arose. What- over premium was paid was ended when the mortgage was made and the man .com- menced to pay his loan. He advocated tho elimination of premiums out of the system, They should put and hold interest at logal rates, and then let the only prewium arise out of the contest for the money. Pormanent Organization, A permanent organization of the United States League of Local Loan and Building associations was effected and a constitution adopted. The membership foe #1 a year for every association the var- ous state leagus Aunual conventions wili be held. Buffalo was chosen for tho next, The resolutions adopted provide that workingmen everywhere be warned against financial schemes of all kinds mromising re- turns for investments far in excess of the logal rate of interest in the vavious states; that the United States league and the vari- ous state leagues enaorse state supervision of building and loan associations and do all in their power to have laws passed with that end In view; ‘hat it is the sense of the league that institutions masquerading as building associations under the name of na- tional building associatio re unworthy of confidenco and the people should be warned against them; that withdrawing members should never receive less money thaun they have paid into any association, less any fines that may be lmposed. i — Fireworks, Courtland beach, July 4th. e Nebraskans at the World's Fair, Upon inquiry we fiud are making their head- uarters at the Purk Gate hotel, situated at the corner of Sixty-third and Stony Island avenue, obposite the main entraunce to the fuir grounds. Itis haudsowme and commodious (325 roowms) and contains all modern improve- ments. European and American plan. Rates 8100 per day and up. Would advise our in- fending visitors to engage rooms at once, e Courtland beach, fireworks on the 4th, best results ‘cannot be attained unless a | SUNDAY, JULY 2, KNIGHTS OF LABOR TRIAL 8light Discord Among Members of an As- sembly and Its Result, "'WILL HEAR BOTH SIDES, THEN DECIDE" Tefore the Tribanat of the Orgnnization— Sister and Brother Appesl to Have Their Differonces Amicably Adjusted—Gen- eral Interest in the ¢ There are federal, state and municipal courts dispensing justice almost daily, with- out attracting much attention at times, but when a secret society convenes for the trial of fellow or sister members, it invariably arouses all interests and the factions repre- senting opposing sides discuss tho contro- versey whenever oppottunity presents itself and no uniniviated ear is present. This is now thecase in two local asse whlise Wnights of Labor, No.5141 and No. 718, the latter \being composed of working women. It seoms that for somo time Brother Jesso Blake of 5,141 has promulgatea what Sister Jones of 718 considers slanderous stories about herself. Accusations have been flung back and forth until the patience of the female end became exhaustod and recourse was had to the assembly. The issues ia the case will be presented pro and con, precisely like a regularly instituted trial in ‘any court by defenders and prosecutors at Knights of Labor hall ~tonight; even the steno- graphor will not be missing, so that in ~ case one or the other of the parties to the case should find serious objections to the findings of the court an apveal to a hgher constituted tribunai may be taken whero the testimony can be sub- mitted in black and white. On this occasion Brother H. Cohen, as head of ull the Knights of Labor organizations of Omaha and vicinity, will lay aside the mantle of “‘disinterestoaness” and his official title, temporarily, to assume he role of assembly prosecutor, with A. Fawkner us his assist- ant, while Jesse Blake's side will be looked atter and vigorously defended by D. Clem Deaver, the well known labor leader. Sevoral Surprisos in Store. 1t is whispered that the latter has several surprises in store for lis opponents, The udicial functions will be exercised by William Erdman and he promises to wear the judi- cial habiliments with becoming grace and dignity, sending the sharpened arrow straight home in conformity with the Knights' laws, rules and regulations, such as areknown to him. . It is hinted that the master workman has for the past few days been industriously working on his opening address, which promises to surpass auything ever heard of on like occasions in the hall. The outline of it was given to a BEE reporter yesterday. After divesting himself of all surplus cloth- ing in order to be equal to the occasion and o fan what little night breeze will bo allowed to enter the chau.ber of secresy, and after making his obedience to the court he will proceed in a manner that will make his opponents wish that they had never heard of this “defamation of character” case. The charges against the culprit Blake will be ro- iterated, and the court duly informed of the serious nature of the case as set out in two counts. Then will follow what it is oxpected to prove by the witnesses on his side. At tho last a scorching urraignment will almost an- nihilate the defendant. Of course thiugs will be looked upon ex- actly from the reverse side_ when Mr. Deaver arises to smash_the prosecuting wit- ss and Mr. Colien_ right and left; nothing, it is expected, will be left of the fabric manufactured by the opposition, but of course the latter will haye another inning when the assistant counsel arises to again show the abuses heaped upon the head of his client. After hearing all the evidence given due deliberation to the matter and looking up authority and laws providing for just such cases the court will gravely announce its de- cision, which in any event 1ust prove disas- trously to either one or the other of tbe partios and seriously interfera with their mx!;:m{ng any longer in the Knights of T Some of the delegates to tho State Labor congress, which will convene at Lincoln to- morrow, will leave Omaha this afternoon, while some of those interested in the Jones-Blake case will be unable to depart for Lincoln until tomorrow morning. Knights of Labor Working Girls as. sembly 8,088 elected tho following offi- cers at last night's meeting: Miss J. M. Riley, master workman; Mrs. W. A. J. Goodin, worthy foreman; Mrs. Mary L. Smith, past master workman; Miss Roso Worthy, recording sccretary; Miss Mamie Lape, financial secretary; Miss Mary Fred- erickson, treasurer; Mrs, J. M. Kenney,stut- istician ; Mrs. C. Pelensky, almoner; Mrs, J, m. Kenney, delégate to the district assem- y. Working Women’s assembly No. 718, Knights of Labor, held its annual election of officers lust night. Mrs. Fitch, master work- man; Mrs. Griffey, worthy foreman; Mrs, Manning, socretary; Mrs. Seaholts, treas- urer, and Mrs. Musser for almoner were de- clared elected. e ——— % * Balloon ascension and parachute jump this afternoon at Courtland Beach. R s OF INTEREST TO GERMANS, Delegato Baumer Tells of the Chioago Con- vontion—Other Notes and Gossip. John Baumer is the only one of the dele- gates to the convention of the Plattdeutsche Central Verein of North America who has returned from Chicago. He reports a good attendance at the convention and on'the oo- casion of the dedication of the Reuter monp- ment in Humboldt park, Chicago, lust Tues- day. ‘There were none who would not show reverence by their presence for Germany's greatest low German poet. The constitution of the Central verein was. somewhat changed.” Life insurance in the organization was made voluntary instead of obligatory as heretofore. Mr. J. P, Lund of Omaha was re-elected treasurer of the asso- ciation for another two years term,'at tho ex- piration of which the national convention will be held at Avoca, In, Instructor Emil Watzenborn of the Omaha Turnyerein desires all those who intend to visit the national gymnastio tournament at Milwaukee and the subsequent turner con- test on the World’s fair grounds, to notify him of uheir going as soon as possiole, as arrangements have been perfected whereby an excursion train has been put av the dis- posal of the veroln in caso o sufclent um- r of poople signify their intention to go. ‘The attendance at the German Women's Aid society pienie in Tietz park last Sunaay fully reached the expectations of the mem- bers of that benevolent organization. The affair wus given on the occasion of the first anniversary and to enable the society to continue in the good work done by the German ladies of Omaha in rendering assist- ance to unfortunate countrywomen in times of necd and bereavement. One year ago the society was started with only six members. Today it numbers thirty- five. A ladies’ singing class in charge of Prof. Peterson and composed of sixteen young ladies, has also been added. The Helia corps is its name, with Mrs. Damon as president, and Mrs, Schueider as financial secretary, he arrangement committee for the picnic consisted of Mrs. Licberknecht, Mrs. ‘Hut and Mrs. Kelm. The Omaha Saengerbund and the Helia corps, by the rendition of favorite songs, contributed largely toward the cnl.eru{l:- ment of those present. The unusual spectacle of a contest for prizes on the ten pin alleys by members of the fuir sex aroused a great deal of interest an curiosity among the nusbands, brothers and admirers of the contestants, of which Mrs. Kelm carried off first prize; & beautiful nged to basket picnic today at Syndicate park. fau. "l‘hn Omaha Liederkranz has a) v 1 ntertaining time is promised. e ey Balloon ascension and parachute jump this afternoon at Courtland Beaci, s ¥. M. C. A. Notes, ‘The members of the Young Men's Chris- tiau association are anxious to secure a piano for their rooms, and would be glad to secure one for the summer from some oune who intends to store it, They would be glad to hear from any one who“would be willing to lot them have the use of a piano for time under such circumstd , and will en- [n.Fu to take Fmpflr care of ib, e devotional meetings Bunday aftor. noons will not be held dwring the months of July and August, nor will theooms be open Quring the evetiing WAUA LERLL, when the classes will be organized and regular work un, ‘he rooms are very cool |, pleasant dur- ing the heat of midday and many have availed themselvos of ghe pviloges. offored., and it is hopea many more.#ll follow tho example. 218 On the 4th, fireworks ourtland beach. i PLANS FOR PROSPERITY. Commorelal Club Prepating to Foster Omaha's Business Interests in General, The Commercial club is now fully organized and ready toset out vigorously to accomplish the purposes for which it is in existence. It now has botween 500 and 600 mombers and offorts will be energetically directed next woek to increasing this number 10 2,000, as that is what the executive committee has concluded there ought to be for the successful operation of the olub and no stone will be left unturned until they are secured. It is desired to have every live, enorgetio and progressivo busi- ness man in the city on the membership roll in order that unanimous action of the vari- ous business interests may be had, including the various professions as well. The sooner applieations are sent in and these new mem- bors enrolled the sooner the club will have the desired numerical strength and increased financial ability to carry out its plans. A meeting of the executive committee was held yesterday afternoon, at which plans wero perfected to briug the business men of the state into the city twice a year, spring and fall. It was first brought up by Chairman Gibbon, of the exccutive com- mitteo, who has been working to put it in operation for some timo. 1t was first suggested chat the proper plan would be to bring the business men all in here in a body on some occasion, but it was later decided that it would be preferable to adopt a differ- ent course, one that would extend tho time 80 as to give the outside business menmore latitude in the way of ragulating their move- ments in connection with the visit. It was held that if a certain time was set it would certainly find several hundred of the coun- try merchants who could not come just at that time, and the plan would therefore bo unsuccessful to that extent it least. It is now proposed to create a fund, to be maintained by the jobbers, to be used solely for the purchasing of transportation to be given to business men out through the state to bring them to Omaha in the spring and fall. “The time will be extended over the months of March and_April in the spring and Soptember and October in the fall, and the traveling men will be ex- vected to furnish to their houses the names of such as would probably come in case transportation was furnished. The merchant will then bo corresponded with, and if he cares to come to Omaha in response %0 such an invitation from the Commercial club, he will be provided with transporta- tion, both to bring him hern and take him home again. While hero, it is needless to say that he will be looked after by the busi- ness men. o 1t s stated that there drd,many business men in the/state who selddiil fr never come to Omaha,/and that many of them buy goods elsowhere. This the clul poses to stop, if such a thing is_possiblé,fs it is main- tained that Nebraska wlmltm}é‘lors are able Lo furnish the Nebraska rotail tfade and ought to have the opportunity., Thoy are sati fied that they will be giver fijo opportunity if they can get the merchaits of the state here to see what they havesto sell and they do not see how tho retailer from outside can refuse himself a little v‘ld&\t’%n and recre: iitfself in. accept- ing an invitation of this K ke Another plan that thé commitiee has under consideration is th!\t‘le'ullmlng out a tion_without expenso to special train over the Mis§quri- Pacific as soon B tho new rates go in on five or six coaches apd Falls City,- and“taking “al men of this city ‘to the nu r of, 300" ov 400, Short stops of from fifteen minutes to half an hour or even longer would be mnde at various towns enroute to gite the Ofhahans a chance to moet some of their fellow business men in the territory that 15 now worked hard by Kansas City and St.. Joe at the expense of Omaha. . The Commereial club intends to put a stop to certain parts of the existing order of things, and while no revolutions are in- tended, it has been decreed that Omaha musy henceforth have the best end of it when in competition with cities outside the state, ey WATER FOR DUNDEE PLACE. Plans for the Discontinuance of the Supply Upset by an Injunction. People who reside in Dundee place are somewhat perplexed over the determination of the American Water Works company, through the receiver, Mr. E. Hyde Rust, to' shut off the water from that part of tho city. A notice was served upon the residents of Duadeo who use city water several days ago stating that inasmuch as the Patrick Land company and other parties who had prom- ised to pay certain sums if the water mains were extended to that addition had not paid, and that the revenue, derived from the sale of water to a few families did not pay the expense of operating that purt of the plant, it had beea decided to shut off the water. Some of the citizens of Dundee took this as o huge bIuff for several weeks and paid but little attention to it, but during the last weok when they appearel at the water works office to pay their semi-annual water rent they were convinced that it was a serious Dropoaition that the company had under consideration, because their money was refused and they were told that the nqua pura would cease to flow through the Dundes mains on the 1st of July. The prospect of having their supply of cold water shut off with the heat of summer just coming on was enough to arouse & good dea] of anxiety, and after a hurrled consulta- tion between a dozen of the prominent resi- dents of Dundee lhoi‘ decided to begin action in the federal court iustanter to prevent the carrying out of the threat made by the com- pany, The sult was brought by Sylyester R. Rush, Charles A. Goss, George Jeffery, W. L. Sclby, Nelson N. Tunnicliff, C. W. Edgerton, F. H. Woodbridge, Daniel L. Johnson, Robert W. Patrick and a half a score more, They st forth in their petition that lllus' are residents of Dundee and that the Dundee addition is & part of the city of Omaha, They further state that they have always paid their water reuts as assesscd by the water works Sompa ud are willing 10 continue the samo if %wmpnny will continue to furnish ther r. They dlso set forth the numerous hapdghips and incon- veniences that would bo ingyrred by them were the water works By to shut off the water supply and pray 4, cours Lo grant an injunction probibitings thy. receiver from taking any such action ynyijisuch time at least as the matter may hedhoard in court. Judge Dundy granted ng injunction and ordered the water works.gempany to con- tinue to furnish water as herotofore, until the court shall order differgptly. The mat- ter will probably come; up Jfor a hearing within a week or two. bas i Postoflice Clerks sul Carrlers. A civil service examinatlbiffor clerks and carriers in the Omaha ppsidfice will take place in the postofiice g August 1, beginning at 9 o'clock, ¢ 1) [ No person will be éxamined for the position of letter carvier if under 21 or over 40 yoars of age, and no person will be ex- amined for any other position in the classi- fied postal service if under 18 years of age. No apolications will be received after Jll'll‘v 12, he Civil Service commission takes this opportunity of stating that the examinations are open 1o all reputable citizens who may desire to enter the postal service, without regand to thelr itical afiliations. All such citizens, whether democrats or re- publicans, or neither, are invited to apply. “Yhey shall be oxamined, graded and verti- fled with entire impartiality, and wholly without regurd to their political views, or to any cousideration save their eficieacy, as shown by the ‘.‘ondu they obtain in the amination. For application blanks, full instructious, and Information relative to the dutics and saluries of the different positions, apply at the postofice 1o the secretury of the lccal board, offect, putting | g ap far oy o' lisiness | ANOTHER RATE WAR BOOKED Much Depends Upon the Attitude of the Sago of 8t. Paul, WESTERN PASSENGER TRAFFIC CRISIS Jim W Mast Defino Mis Position on the Situation or Mis Competitors Wi Unuve Something to Drop—Mr, Droxel's Omaha Interests, The fact that the meoting of the transoon- tinental lines Friday in Chicago abso- lutely smounted to nothing has set railrond men 1o gossiping, the consonsus of opinion being that Jim Hill has the best of the situa- tion. Representatives of the Great North- ern, Northern Pacific, Union Pacifie, Southern Pacific and Atchison roads were in session all day at the Wisconsin Central building listening to demands of the Great Northern for the abandonment of the second class east-bound fare and tourist sleoping cars from all transcontinental lines. When asked what rates would suit the sage of St. Paul Mr. Whitney, representing the Great Northern, made no definite reply because the Canadian Pacific was not representod. But no amount of cajoling or badgering would shake the Great Northern from its position, with the result that last nigit there were a number of very warm mon about the hotel lobbies. Of course, its foolish to think that roads other than the Great Northern will consent to the abolition of the second class east- bound rate until they know what tho Great Northern desires vo substitute. and as for taking off tourist sleepers, it is out of the question, With these problems facing the general managers and passenger agents of tho trans- continentel lines, the merriest war of mod- ern times 1s about to be declared. Should the Great Northern fail to state just what it waunts, the Union Pacific and Northern Pa- cific will unite in a war of rates and l,lloi' will make it decidedly interesting for Mr. Hill. Does Not Aflect Omaha, President A. S. Potter of the Omaha Bridge and Terminal company, when asked this morning by a renorter if the death of A. J. Drexel would change the status of the comvany in any way, sad: “While we all regret Mr. Drexel's death I cannot see how it is going to affoct any of the enterprises in which the millionaire was interested in Bast Omaha. He couldn’t take his money with him, and as Mr. Drexel was interested in our enterp through Mr. Welch, undoubt- edly they will be continued by the executors of the estate. “*Mr. Drexel must have been worth be- tween §30,000,000 and $40,000,000, invested in the most conservative manner possible, ‘‘He gave little attention to the firm of Drexel & Co. of Philadelphia the last year or two ana for the past three months has been at Carls Although famous for its , Carlsbad seems to be fatal to the family, because he had a sister die a year or more ago, and I believe Mrs. Drexel also died at the famous watering place, “Drexel, Harjes & Co. of Paris will un- doubtedly be carried on by Mr. Harjes, who is one of the most delightful men T ever mot. He spent a day in Omaha some time ago and became so much intorested in the Kast Omaha scheme that he insisted upon taking some stock in the company My association with M: Limitéd, was exceedingly pl reserved man, he grasped s L itively and had the rare faculty of deciding things hastily and always well. Socially he was a companionable man and very ap- proachable,” Droxel, while ut, A qu o Interent in Silver. A dispateh from Denver states that the Unfon Patific lines in Colorado will be directly aftected by the closing of silver mines and its officers cstimate the loss at 75 per cent of the whole trafiic, or about $200,- 000'a month, They say should suffering be- come apparent in the mountain towns_they will carry supplies at nominal figures. A con- serative sestimate of the loss to the Rio Grande road is 30 per centof the gross earn- ings, or about 150,000 a month, and this will incroase if the mines remain closed for any length of time. The Colorado Midland will Joso about the samo- proportion ot 1ts eara- ngs, 'he roads have all commenced to lay off train crews and have received orders from the smelters and sampling works to accept noore shipments. Kven gold ore is not taken, as it cannot be handled in most cases without silver and lead flux. * Unlon Pacl Ratlway Notes. Harry P. Deuel went to Chicago yestorday. Union Pacific stook sold yesterday at A4 < W. F. Vaill of the Burlington has gone to Beatrice. Mr. and Mrs. John Francis go to Hot Spriugs, S. D., today. G, M. Ford, general agent at Des Moines of the Union racific, is in Omaha. F. A. Nash returned from Chicago yester- day, and says that Chicago is relative dull'as Omaha, ‘L'ravel has been exceedingly heavy for the ast fow days, tho indications for the day eing that all the roads will have to add a sleeper or two to their cast bound trains. President Clark telegraphs vhat he is feel- ing much better than when he left Omaha. He has not yet decided where he will rusti- cate, but undoubtedly at some oue of the Pennsylvania mountain resorts, e FRAUD ON IT CE. ading Mortgage Records and What They Do Not Bhuw. Asurayp, Neb,, July 1.—To the Editor of Tug Bee: A few days 8go the record of Ne- braska farm mortgages by counties for the year ended May 31, 1893, as compiled in the office of the deputy commissioner of labor, from certified statements of county clerks and vegistrars of deeds, was published in Tur BEE. In commentiog editorially on the report Tue Bee stated that “the most de- coptive and misleading statisti exhibit that is given to the public periodically is the compilation of the Nebraska farm mortgage record, as reported to the com:missioner of labor.” The statement is eminently true, and as the Nebraska farm mortguge has been held up and pointed to as oficially re- corded evidenco of distress awong the farmers of the state, it might be well to air the subject a trifie, The aggrogate amounts of mortgages filed and releasod, though correctly recorded ac- cording to law no more shows the actual mortgage indebtedness of the state than tho sizo of » field would show how muny bushels of corn it will produce next season. Evon if mortgages wore always evidences of 1u- debtedness, which they are not, the record would be ot only misleading, but absoluiely falso, for tho reason that partial payments are not credited on the records and in many cuses releases of fully satisfled mortgages are not promptly made. Only a day or agoa gentleman told me that it took him more than a year to get a mortgage released, after he had paid it in full, and more than half of it had been paid for threc years. The man who held the lived a long distance from the county seat, and nov feeling particularly in- terested aftor he got his money, would always forget to atiend 1o it when in town, Such cases are not exceptional, but vory common; but the noglect to record releases of fully satistied mortgages does not falsify the records Lo anything like the extentof partial payments which are never credited except on the notes. There are thousands of Nebraska farmers, ambitious and ener- getic men, who, not content with renting fand, or' even owning & small tract, have goue in debt for larger holdings, paying only small suw down— that terrible bugbear, the mortgage which he freely gives covering the balance. Proba- bly one-fourth falls due and is paid in oue year, anocher fourth the next and so0 on, but 80 far as the records are concerned he still owes it every dollar. A bad vear befalls Lt about the time the last payment falls due and be asks for and gets another year's | time. Ouly u smull portion of the original debt stauds against the farim in roality, but Jear afior your the rocords g0 on showlng that ot & dollar has been paid. Auother feature. 1n a comparatively new ‘ tendent there s mortgage | THIS AFTERNOON AMUSEMENTS. BALLOON ASCENSION AT COURTLAND BALLOON ASCENSION. nuo, Chicugo, I1l. U oth, prepuid, A common senge criticlim of the New Testament: an earnest, logloal plen in fuvor of the truth; n wost excellentnnd interesting work. tial criticlsm on Ohristlan dootrines and the olaims of Christianity has not been publish- | Implest and | ed." “The writer entertuins th most roverent belief in God." “Shouid be got before the world In every way possible. ~——ALSO— reatiso on the generative dney B. Blliott: St. Clair ing Company, New York; cloth, pro- pud, 8150 A book for every mau and woman; apractical discussion of hereuity, pointing out serious errors Inorr 1al system and suggosting radioal remed hogotting off- sprinz only undor favorable clrcumstanoes corroborated by the opinions of several hun- dred eminent physicians and laymen. “Vico has no friend 1iko the prejudice which claims to be virtue." A sinoere belfover in the Inestimable value of theso two works to humanity, voluntarily advertises thom. country like Nebraska, vrhere land is D, poor men not financially able to own land can and do procure it, nad make themselves independent through the scarecrow mort- gage. In such cases a mortgage is not an evidence of dis and not properly of debt, The former owner had the land clear and might have kept it 80, but sold it to the poor man, who hud nothing worth mentioning be- fore he bought the farm and paid for it with a promise to pay--a mortgage. Was the man who bought theland worse, or better off, tho day after he gave tho mortgage than the day before?. He evidently thinks ho has bettered his condition, but according to the records at the court house in the county where the land lies, some poor farmer has augmented the mortgage indebtodness of tho state by putting a plaster on his farm.' The man who now owns the land has just as much property as be ever had, and is in a better condition to secure a home of his own and a comfortable living for his family than ever before, while the other fellow, who preferrad & mortgage to land, is perfectly satisfled. Oue has the farm, the other tho mortgage. Both are happ; In the trans- action not €1 has been created or destroyed, and yot the records show an incroased mortgage indebtedne Still further. Thousands of the farm mortgages entored on the records year by year are given, not by poor men or men i i nl distress, but by tho most prosp mean: instance: A farmeor owns a querter or a half section of land, all paid for, or, perhaps, one or two payments not yet due remain unpaid (the recordsshowing not a dollar paid), but ho has been prosperous and has onough money in the bank to lift s mortgage. As it is no. due, and there is an- other quarter section adjoining him which he covets, he buys it and pays a portion of his surplus funds down, giving a mortgnge for the balance. Now how will that affect the records? It mot only leaves the entirve former mortgage stickiug out like a knot on a log, when in reality only a small fraction of it remains unpaid, with monoy in the bank to pay it, had it not been for the second purchase, but puts another and still larger sum on record. The man who piles up this indebtedness, instead of be- ing a distressed victim of _moncy sharks, intercst flends, grass hoppers, or drouth, is & shrewd, prosperous speculator, able and willing to take his chances on & Nebraska farm, encumbered by a mortgage which he voluntarily gives with gain in s eye. Tt might not-be out of place to add that there is one other thing which hurts the credit of our state and is as misleading as the mortgage record, although it has not been used to the same extent by false friends of downtrodden Nebraskans, and that is our low valuation and high per cent of Ifi\'y. USTIC, e SCHOOL BOARD POLITICS. Candidates for the Ofiices to Be Filled at the Next Meeting. A good deal of interest is manifest just now in Board of Education politics. The election of superintendent, secretary, supor- intendent of buildings and attorney will come up next Monday nigat regularly, al- though it is possibie that the matter may be deferred to & later date if the board should so decide. With regard to the clection of a superin- ws to be but one sentiment. That is that Mr.Fitzpatrick will be re-elected and in all probabilivy for a term of three years. 1f there1s anybody else in the 1eld ?\e has been conductiy unt, and it is not probable that any other candidate will be seriously considerea. The list of candidates for the secrotary- ship 15 4 long as & man’s arm, with several wards you to hear from. There are at least five men who imagine that thoy have a cold, dead cinch on the ofce, and it is evi- deut, therefore, that there will be several lurge gobs of disappoiutment loafing around looking for a hole to got mto when the skirmish is over, The contest thus fur has been conducted in the best of spinit and it promises Lo continue thut way to the end. Some of the wore prominent caudidates are: J. Borthwick, W. C. Blackburn, M. H. Redfield, ¥rank M. Hamling, William Coburn, G. W. Holbrook and George 1. Rathbun and othors, There is also a scrap in sight over the oMce of superintendent of buildings. The present incumbent, Mr. MacLeod, is desirous of re-election and seewms to havea pretty fair chance of success, but he will have no ng a suill hunt for the place, as Is also ex-Super- intendont Wooley, and between thom they are kooping the track hot. Irving F. Baxter, the scems to hold the poll in the race -for re-eloction. 1o fact there aoes not appear W be much of & contest over this position and Mr. Baxter feels quite confident that he will be retained avother year. An expression of several of the men members of the board upou Mr. Baxter's chances of re-election seemed to in- dicate that he had given very good satisfac- tion sud would probably be re-clected. vesent attornoy, “A more thoroughly honest and fmpar- | Running l\[le_ating. ONLY FOURTH OF JULY ATTRACTION. FAIR CROUNDS §3,000 in PURSES. JULY 4, ol ond- 60, SPECIAL RATES On all Roads tering Omaha For Part Iculars and Privilogos J. A. TUTHILL, Sac’y. Omaha, Neb. $135 Reward 8135, Stolen from. the barnyard of Adam Win- Grand Isiand, Neb, on fhe nightof 5, 1503, otio_gray horso, about 8 years uiiky bulld, wolght about 1090 pounds, &hod in front, #ood all Tound horses and ono dun hovsowhout” 10 years old, welzht about 1,000 poundw,hns two brands, dark line down his bpck, forelocks trimmed ' on hoth horses. Adam Windolph will pay $25.00 for the return of thie horsos, and Hall county will pay $50.00 for the arrest and conviction of the thief. On the same niht thoro was stolen from the pas- ture of Oliver Moad, near Wood River, Nob., one bay mare, 3 years old, welght whito mrip tn 1 both himnd fe Drokon to drive, Moud will p the raturn of o allcounty will |Ill‘y $50.00 for vl ost und conviction of the thief. Arrcst nmd wire J. A, Costello, sheriff of I1all county, Grand Island, Nob. y1-a2¢ RANGH SALE The celebrated P. O. ranch (inaugurated by M, E. Post), near Cheyenne, Wyo,, includ- ing Lands, Horses and Cat- tle at TRUSTEE SALE at the Front Door of the Court House, Cheyenne, Wyo, at 2 o'clock p.m., on JULY 18, 1893. Further particulars by Baird & Churchill, Attorneys for Trustee, Cheyenne, Wyo, RHEUMATISM URED IN 30 DAYS FOR §2 or HONEY REFUNDED By using Kimball's Anti-Rheumatic Finzer Ring, The genulue 18 putup In velvet luea boxes. Beware of lmitations. Sold only by B. W. SCHNEIDER, 1612 DOUGLAS ST, IT NEVER FAILS. MAKES THE BEST Photographv REASONABLE RATZ) FOR The DBest, 1620 Douglas Wteas,