Omaha Daily Bee Newspaper, July 2, 1915, Page 3

THE BEE: OMAHA Ph‘ll‘ \\ JULY \|Omaha’s Fin: maha’s Financial Institutions in Healthy Condltlon FINANCIAL STATEMENT OMAHA LOAN AND BUILDING ASSOCIATION JUNE 30th, 1915. Loans on first Mortgages ......... Loans on Association shares of stock. . Interest due from members Real Estate Acquired through Foro«-lmnro ‘ Foreclosures Pending . Furniture and Fixtures . Association Building . Sundry Persons and -\m-mmt: busss Cash on hand and in banks.......... Running Stock and Dividends ......... Paid-up Stock and Dividends ... Due sundry persons on Reserve Fund . Undivided earnings lar up. Joseph Barker R. J. Dinning, OFFICE: E. % Increase in Assets during past year ..... Dividends earned for members during pe Dividends paid to members since organization ... 2,180,942.91 serve Fund and Undivided Earnings .... Dividends, credited semi-annually, huve never been less than 6% per year. Savings accounts may be opened at any time, in any amount from one dol- G. W. Loomis, President. OF THE ASSETS Total Assets ........ LIABILITIES Account of Incomplete Total Liabilities vear.. vt aUD \ .$7,416,531.80 139,665.26 5,144.16 18,158.52 ; 8,466.50 } 520,00 . 160,000.00 303,287.97 .$8,054,100.58 .$7,018,726.16 615,110.71 ’19.90_./4 186,046.7 14,314.27 e eeee....$8,054,100.58 .$1,013,584.42 359,978.00 0.97 If you are planning to build or buy a home it will pay you to investigata our plan. Payments on our loans are on small monthly payments with privilege of paying larger amounts or paying off the entire loan at any time. OFFICERS AND DIRECTORS { A. Parmelee. W. S, W. R. Adair, Secretary and Treasurer. J. T. Helgren, Assistant Secretary. Charles E. Black Wright, Vice President. { A. AL Allwine, Assistant Secretary. John 11, Butler. Millard M. Robertson. Association Building, Northwest Corner 15th and Dodge Sts. South Omaha Office: 503 North 24th St. J. H. Kopietz, Agent. FINANCIAL STATEMENT OF COMMERCIAL Savings and Loan Association ASSETS. July 1st, 1915, First mortgage loans........$1,010,010.00 Loans on pass book security. Real estate Real estate on comtract...... Interest in arrears........ Mortgages in foreclosure. Cash on hand........c00. Total . 14,533.26 Dues and 9,616.65 16.87 236.30 3,653.35 38.001.58 .$1,080,668.01 Reserve fund Undivided profits ...... Incomplete loans ....... LIABILITIES. dividends. ....$1,027,948.01 n,.)(I).OO 1,363.73 35,8562 . .$1,080,668. ()I Put Your Savings in a Safe and Profitable Place, Start an Account NOW in this Association. Under Supervision of the State Banking Board. OFFICERS: P, J. Sheehy, Pres. W. P. Adkins, Vice Pres. Jas. J. Fitzgerald, Sec'y. F. W. Thomas, Treas. A. H. Murdock, Attorney. 1505 Farnam Street, Omaha, Neb, P J. D. E. C. L. F. Jas, J. Fitzgerald, W. E. HOGAN, Cashier. DIRECTORS: Sheehy, W. P. Adkins, J. O'Brien, F. Koutsky, Kohansky, W, J. Coad, Etter, T. F. Quinlan, South Omaha Office, 311 North 24th St. Forty Lead and Zinc Mines in Missouri Closed by Strikes JOPLIN, Mo., July 1.—-More than forty mines in Webb City and Joplin now are shut down, the result of the strike of lead and sinc miners, which began last Monday. Ten more mines, among the heaviest producers of the Joplin district, were closed today. The week's output of ore will be greatly curtalled. Three thousand or more men are out of em- ployment. At & meeting here last night, the first held in Joplin by the strikers, ft was ad- dressed by leaders of a movement to or- ganize an independent union. At the meeting it was decided to march upon r mines at Joplin today, demanding t they close. Operators have pre- dicted that If the strike continues there wil! be but few mines in southwest Mis { souri operating by the end of the week Miners of the Joplin district have never before been arfillated with labor organ- izations and no forelgn classes have been employed in the mines. Leaders say they will attempt to organize locals In evety city of the district. They are op- posing affiliation with the Western Fed- eration of Miners. DEFINES THE DOCTRINE OF DUAL NATIONALITY WASBHINGTON, July 1.—Childr born on American soll, whose parents have be- come naturalized American citizens, can- not be classed as possessing dual na- tionality and are not considered liable to the military service under a forelgn flag, the State department made clear In a statement fssued today “While the United States alwa has recognized.” the department says, “the existence of dual nationality in the case of children born in the United States of |alien parents, of children born in a for- olgn country of American parents it does not concede that dual nationality exists in case of a forelgn born parent, who has acquired naturalization as a United States citizen.” While the State department extends whatever protection it can to persons of dual nationality who enter the other country by which they are claimed, it does not assure them immunity from mili- tary service, Murderer of Brides Sentenced to Die LONDON, July 1=A verdict of guilty was brought in by the jury today in the case of George Joseph Smith, who was charged with the murder of three of his vives, It had been alleged by the crown that Smith killed his wives while they were in thelr baths and had collected in- surance money on their lives. Smith was leentenced to death | properties at any time by applying to the | LOAN COMPANIES SHOW PROSPERITY ‘ifices Filled with Omaha People Drawing Their Six Per Cent Dividendi | ARE NOW MAKING FARM LOANS‘ The bullding nn-l loan companies ur' Omaha have had a satisfactory and prof itable business during the six months | ending June 3, 1915, and July 1 found the various offices In the city packed with | depositors and investors rece:ving their | semi-annual 6 per cent dividend. The | building and loan system fis constantly ETowing in popularity. Tre assets of all the companies are swelling, and de- positors are more and more anxious to place their money at the disposal of these companies. Many of the local companies hava found It necessary to restrict the amounts of money they would take from any in- dividual, as they prefer the small de positor rather than the man who wants | to invest $10,000 with them at a single | stroke. The man with the $,00 or the | $10,00 to invest, however, is growing more and more anxlous to place it In the bullding and loan, and it s that tendency | that threatened for a time to flood the companies with more money than they could place. This is why many of the companies restricted the amounts to be deposited by any one investor Money is Now Working. The combined assoclations of Omaha have now approximately $25,0000 in assets, And this enormous business has been virtually bullt up in twenty-five or thirty years. This enormous amount of money repre- sents the savings of thousand upon thous- ands of persons In the city, who have ved any sum from 5 cents to $500 or more and have placed it in these financial institutions where any amount no matter how small, from 50 cents up, draws a dividend at the rate of 6 per cent per annum. These companies are mutual so- cleties for saving, and one can do busi- ness with them only as a membed Membership insures to each a share in all the securities and profits of the as- soclation. Thus the fellow with hut 50 cents In the world to Invest can invest It safely in first mortgages on improved bullding and loan companfe; Milions of Aw: During the first three months of the present year there was quite an excess of idle money in these associations be- cause building was not as active as It might have been expected to be at the | time of year. At the present time this money s practically absorbed in good first mortgages and there Is. some demand for more. This change tame about na- turally with the opening of the building | season in Omaha and with the renowed vigor of the building activities. Making Farm Lo Loaning on farm mortgages is a new departure that has been engaged in the last six months, notably by the Con- servative Savings and Loan association. This company has since March loaned $201,00 on farms, taking nothing but first mortgages on Improved farms In eastern Nebraska, where the agricultural reputation of the locality has long been | established and unquestioned. This money | is loaned at 6 per cent on the amortiza- tion plan of payment, which will pay out | the debt in exactly fifteen and one-half | years. The semi-annual payment of $0 on each $1,000 of principal pays off the | interest and such part of the constantly decreasing principal that at the end of fifteen and one-half years the debt is entirely wiped out. Where such a borrow- er's payments are promptly met he may | see at any time, by consulting the tables the amount necessary to pay off his loan | in full. On this plan thirty-one semi-an- | nual payments of $i0 each, or a total of | $1,540.01, will pay off a $1.000 loan with | interest in full, Nebraska Shows Galn. The Nebraska Savings and Loan asso clation has made a gain of nearly $139.% which in resources in the fiscal year, carries its total The Omaha Loan and Bullding a tion has mode a gain In assets during the fiscal year of $1,013,684.42. It has earned dividends for its members during the last year of $359.957, and has pald a total of Gividends to its members since its organi- zation of $2,180,04291. The reserve fund and undivided earnings stand at $200,360.97 The Commercial Savings and Loan as- soclation has first mortgage loans to the sum of $1,010,010, and loans on pass book security to the amount of $14,33.26. The (Commercial has made a nice gain dur- ing the six months and has enjoyed a very satisfactory activity. Many New Accounts. During the fiscal year just closed the net resources of the Conservative have increased $1,233,916.08. Of this amount the | real estate loans account presents the most marked growth, amounting to $1,147,894.42. Its Increase in savings and {nvestments, which are popularly termed “deposits,’ amounted to $976,649.06. Dur ing the year 428 savings accounts were opened and 2,712 closed, which leaves a net increase of 1,56 savings accounts in the last twelve months, The 6 per cent dividend pald to all the Investors or “depositors” in this company, totaled the huge sum of $49,049.08 for the fiscal year, or $267,216.31 for the first six months of the present calendar year up to June ¥ The marked growth of the Bankers' Savings and Loan assoclation, southeast corner of Sixteenth and Dodge streets, is attributed by A. D. Touzalin, the sec- retary, to the courtesy shown to small ccounts. The officers hold. that they would rather have ten loans of $1,000 each than one loan of §10,00, and they always welcome those depositors who want to save systematically. The asso- clation pays € per cent dividends regu larly, | Money is Abunda; Generally speaking, money is so abund ant with the bullding and loan associa- | | tions that some of them cannot accept all that is offered because they are unable to loan it out satisfactorily fast enough to keep up with the deposits rofling in. If| this condition continues any great length of time, Indicating as it would that| money s permanently cheaper, then it is sald Ly some of the companies that the possibility of paying & lower dividend rate next year must be considered. It is pointed out that much of this money shoulq be at work In more active lines— making work for working men. Some Bay Municipal W | direct | Some of the larger compante. 8o | | found it necessary to Invest some of ther ; Fi First mortgage loans on in Real estate and sales on cor Accrued interest......... Building loans . .......... Contingent loss {und Undivided profits ....... DO S 3 oo v daa iy First mortgage loans on improved farms Loans on Conservative Association Dues paid and dividends added. ' i 508 vavsvevusconbing i Inerease in resources past six months. . Amount of dividends eredited July 1, l“l Jiiia Dividends credited since organization......... nancial Statement of TheConservative Savings and Loan Association OF OMAHA, NEBRASKA July 1, 1915 nproved city real estate. cesenneese$ 946407516 201,000.00 37,684.43 99,469.61 22387.78 ntract Office building and lot ....... Vo e s e Vem A s RN SR AN WA aie A v 81,000.00 Municipal bonds and WaseaRlE. . ., vvvieiirnvivoscovios JEa R Cemy e 162,295.69 * Cash on hand and inbanks.............. e riad ViR 546,445.70 Total .. SRRt ied s O VARV N VN Y s : ‘HUhH,J)H.fl .$10,020,587. .'10 237.2: AR Loans promtly made on Omaha Real Estate or on improved Farms in Eastern Ne- braska. Call for rates. Geo. F. Gilmore, Prest. J. H. McMillan, Ass't Sec'y. Randall K. Brown Robert Dempster Byron R. Hastings H. A, Thompson Officers and Directors Wm. Baird, Counsel W. Kuhns, Sec'y-Treas, J. A. Lyons, Ass't Sec'y. L. R. Slonecker, Attorney E. A. Benson A, W, Bowman : dohn F. Flack, Charles C. George 7 o J. C. Robinson 4. A. Sunderland " A. P, Tukey . M. Wilhelm it Offices 161 - 4 Harney Street, Omaha RESOURCES Real Estate Loans ... Stock Loans . . Real Estate Furniture und Fixtures Delinquent Interest Cash on Hand ........00u0e June, 1910 June, 1911 June, 1912 .. OFFICERS W. D. LINCOLN, Presi N. A. SPIESBERG! A. D. TOUZALI , Secret L. D. SPALDINC Comparative R, Vice-President. A, A, TENOPIR, Asst. Secretary. THOS. D. CRANE, Atty. Bankers Savings & Loan Association Southeast Corner Sixteenth and Dodge Streets .. $301,775.00 8,201.53 L. 8,960.42 Capital Stock .... Reserve . .. Incomplete boan- statement showing growth in last five years. . 720.05 June, 1913 ., vee. 216,170.08 110,586.77 June, 1014 . 273,087,560 .. 174,338,053 June, 1913 , voo. 834,005.80 DIKECTORS 1'. LEARY 4 J. J. McMAHON * CHAS. KUNCL C. D. HUTCHINSON ary. surplus funds in municlpal bonds and warrants, as provided by recent amend- | ments to the building and loan law of the state of Nebraska. This law, sald, will be of great service to many of the bullding and loan associations of the | state. The limit placed on this kind of an investment for any association {s the amount of its contingent loss fund. Some are holding that this limit #hould be in- creased, and thereby there woud be a benefit to the state in enabling | bullding associations to absorb a large proportion of Nebraska's bonds and warrants ularity and rize of the bullding associa- tion business in this state it is pointed out, this limit might wisely be increased 1o 20 per cent of total assets, the same us it 18 In the state of Ohlo, The local real estate market, which ia watched as 8 kind of pulse of the build- ing and loan business, tive In large deals, especially in down- town business property in the heart of of Omaha. The building and loan men say there is every reason to belleve that this fall will bring an increased demand for homes and for home loana. e —————————y FIVE LARGE CITIES IN SOUTH DAKOTA GO DRY ABERT 8 D, July 1L-At 9 o'clock last night curfew pounded the death knell to saloons in five large citles of South Dakota and many towns. Aberdeen is the largest of these citles and while the liquor element is still clinging to a slender thread of a reversal of Judge Rouck's “dry” order by the suprehe court, all have reduced their | stocks preparatory to moving. ] James, thirteen miles east of here, is | the only wet town in this locality. Among the N | the other large cities and towns in the state to go dry are Mitchell, Rapid City, Madison, Milbank, Sisseton, Webster, Platte, Plankington, Murdo, Teola, Kim- ball, Garretson, Farmer, Custer and Bristol. ' Apartments, flats, houses and cottages can be rented quickly and cheaply by Bee “For Rent.* it ie| On account of the pop-| has been quite ac- | smaller | STATEMENT OF Nebraska Savings and Loan Association At the Close of Business June 30th, 1915, RESOURCE [ Real estate loans .$904,125.00 Loans on assoclation stock 22,075.88 Real estate sold on contract 6,8362.93 Real Estate ........ . 2,422.67 Interest due from borrowers. .re 387.08 Cash and checks in drawer . . 687.10 Cash in bank ....... 28,120,568 .. $964,171.79 Total ... LIABILITIES Dues paid and dividends added thereto .. Reserve fund . Undivided profits Incomplete loans .$904,638.18 12,185.27 4,789.42 42,608.92 Total COMPARATIVE GROWTH—RESOURCES Tuly 1, 1907, .....$149,143.96 | July 1, 1912...... 606,861,79 July 1, 1908. . 208,049.79 | July 1, 1913.,,... 692,460.13 July 1, 1909, . 240,906.95 | Tuly 1, 1914.,..,.. 825,194,88 July 1, 1910, . 37 Tuly 1, 1915...... 964,171,179 July 1, 1911. 146,561.42 Shares muy be sulscribed for at any time, on which yoa can deposit your savings weekly, monthly, semi-annually. $1.00 starts an account, Loans (o homemake OFFICERS AND DIRECTORS Aving you ln Thos. A. Fr¥, Pres, Robert. 8. Wilcox, V. P, John R. Braodt, Bec'y . 'H._Huverstick, Treas Edgar raman, Jr,, Attorney. Major R. 8. Wilcox, David Cole, Bartholo lan, W. . B. Belt Thos. F. Godfrey, Byron R "nnlll\lm Th morris, 811 South 18th Stroet., Omaha, Nel Let The Bee get you a job. “Situations Wanted"” ads are free. JOHN C. WHARTON