Omaha Daily Bee Newspaper, August 3, 1916, Page 17

minded every fifteen minutes that ere is a First National bank, since imes are rung in front of that es- blishment four times an hour. “But there are three other national banks " In the city, two savings banks and a trust company. Two building and Joan associations also help the people to take care of their surplus money. The First National bank was estab- lished in 1866, with a capital of $7,500. Its first president was E. H. Rogers and its first cashier L. H. Rogers. Now it has a capital of $150,000. De- posjts amount to $1,135,000,. an " in- crease of $300,000 over a year ago. Its new building, erected less than plus is $30,000. It has close relations with sixty other banks in northern and eastern Nebraska, The president is H. J. Lee; vice president, E. R. Gur- ney and A. G. Christensen; cashier, . H. Williams. The Farmers Merchants bank's resident is Philip S. Rine; vice presi- and cashier, William E. Smails; L L 24 If you go to Fremont you will bel two years ago, cost $150,000. Its sur- | assistant ¢ . Buss. £ | 1884, on a capital of $25 Its first ’presidem was George W. E. Dorsey. | Tts capital is now §100,000. Deposits amount to $350,000, an increase of $75,000 during the year. There is dis- played in the front window the ori- ginal summons to Mr. Smails, on May 23, 1877, to go out and kill grass- hoppers. This was the only time the people of the state were really seriously afflicted with the pests. The insects were so thick they would cloud the sun. It was a case of “root hog or die,” and bankers as well as laborers were called out to do duty | for their town. The surplus of the Farmers and Merchants National bank is $52.000. ashier, Victor Seitz, and R. \ : the others on Main street, has a capi- tal of $100,000. Deposits amount to 1$950,000, an increase of $100,000 over a year ago. Surplus and profits | amount to $130,000, the highest they have ever been. The president is Otto | H. Schurman; vice president, C. Christensen; cashier, O. F. Turner. In connection with the national | bank, this institution conducts a sav- lings department, with a capital of $18,000. The surplus is $15,000. De- posits are $250,000. George L. Loomis is vice president. The other officials are the same as in_the national bank. The Fremont National bank was I started in 1883 on a capital of $50,000. | Its first president was A. P. Hopkins. Tts present capital is $150,000. Depos- its foot up $650,000, a gain of $100,000 1$100,000. 1t never missed paying a dividend. Its president is Charles F. Dodge; vice presidents, J. T. May {and H. Wehner; cashier, 1. McKen- The Commercial Nationai bank, like | over last year. There is a surplus of | § 4 Sorru Streeer East 1o Mawy <3 THE_BEE: OMAHA, THURSDAY, AUGUST 3, 1916, nan; assistant cashier, C. A. Silas.' The Security Savings bank, under the | same management, has a capital of | $18,000; deposits, $139,69 The Fremont State bank, formerly a savings bank, was reorganized two | ears ago, Its president is Louis E.| May and its cashier D. D. Rowe. This | ibank is located on Sixth street. It| | was established in 1905, with R. B.| Snyder as president and a capital at| that time of $15,000. Now its capital is $50,000 and surplus $5,000. Depos- its amount to 3.780,000. This is the only state bank in Fremont. It is rotected by a guarantee fund of 1,000,000 | The president of the Nebraska | Building and Loan association is T, L. Mathew. This organization was | started in 1892, Its total assets lamount to $1,905,000. It has dealings | | with 150 persons in that section of Nebraska. The Equitable Building and Loan association has assets of $230,000. Its president is Frank Hammond; vice president, Frank Fowler; secretary, Arthur Truesdell. It has gained about 20 per cent in business during the | ear. The president was congratu- | ated recently in a letter from a prom- inent Omaha man on the high char- acter of the men with whom it is now doing business. ) The Federal Trust company has a capital of $100,000; deposits, $100,000. | This concern was started in 1911. Tts | surplus August 1, 1913, was $1,000: surplus in 1914, $2,500, and in 1915, 4,500, The. total banks for (hesg'ear ending 1914, was $18,850,000; June clearings in Fremont une 1, 19183 $21,537,000; June 1, 1916, $22,045,000. ‘| mortgage First National Bank ) N o °°°o$a° While anyone in Fremont can start a bank account with $1, and although more than $500,000 more money was deposited in the banks than there was a year ago, not all of it goes to the banks. - Thrifty Fremonters are find- ing the building and loan associations good places to put their surplus earnings. There are two such organi- zations in the city, payments being made monthly. TKer: is more profit on one's money there than in the banks. It does not necessarily mean that every person who invests money in this way means to build a house. Some people have a good deal of ready money, from $500 up into the thousands. For such persons the field is a profitable one. Everyone knows that Dodge county is rich and prosperous, but it is not so well known that more than a million dollars a year is borrowed on farms of that county. Fortunate is he who has his money invested in one or more of these farm mortgages, for where the amount is in proper proportion to the value of the farm, as is usually the case, it is as safe as a government bond, and bears much better interest. Needless to say, the demands for these mortgages is very strong, east- ern and other life insurance compan- ies being in the field after them. Fre- mont savings banks and professional Building and Loan Agencies money loaning institutions seek them, and fully two-thirds of the amount borrowed in a year, is ob- tained from Nebraskans, including many Fremonters, A good way to get such a mortgage is to apply to some Fremont real estate or loan agency or trust company. The rates paid on Dodge county mortgages range from 5! per cent to a trifle more than 6. Then one can loan money profitably on Fremont business or residence property. More than $300,000 is bor- rowed in a single year on such land or buildings. On these there is a higher rate of interest than on farm mort- gages, and they are more available to Fremont people and institutions than the latter because of the inability of eastern insurance and.other outside institutions to handle them. More discrimination and judgment is needed than with farm mortgages, because of the wide difference in values at short intervals of city property. When land ranges above' $150 an acre, as has been the case in recent years in Dodge county, there is, of course, no such big advance possible as in years gone by. The average yearly advance on such land is now not more than 2 or 3 per cent and the rental returns yielding about 3 per cent additional make afiogcther in the Fremont’s Banks Are Prosperous and Solid Institutions Comimercial National Bank v course of years a 5 or 6 per cent in- vestment, Rental returns will be larger with bettef farming, the more general use of the tractor and such changes as July and August plowing | for wheat and deep plowing for corn, But this is a mixed country and there is land still in the vicinity that can be picked up at a rcalonlb{e fig- {ure. It is not only the capitalist, as the is generally known, who is in- vesting his money in such ways. There is a factory foreman in Fre- mont who little by little from his monthly salary has got possession of rmers and Merchants Natl Bank t five or six comfortable cottages, from which there is a satisfactory in- come. There are many opportunities like this and as the president of the Commercial club has shown in his latest report there is a strong demand, not onl{ for many houses for rent at from i 8 to $22, but stores also, on the side streets, where the rent will not be as large as on the more promi- nent thoroughfares. In this respect Fremont could well follow the ex- ample of Hastings, where many such buildings of both kinds have already been provided. e oA R FTER —— = N W home. The First National Bank Of Fremont The Fidelity Trust Company. Affiliated institutions having combined capital | and surplus of $300,000.00, and combined assets of nearly $2,000,000.00 offer their services in every branch of banking to Every Nebraska Interest, Personal or Corporate a‘ We ask you to come to Fremont and we most cor- | dially invite you to make our home your home | while in the city. Come in and see our business There are some who are kind enough to | say we have the most beautiful banking room | in Nebraska. The Fidelity Trust Company F. B. KNAPP, President The First National Bank | H. J. LEE, President “ e e IR i R to meet you. PHILIP S. RINE, President. TG (Established 1884) The Farmers and Merchants. National Bank ( OF FREMONT The officers and stockholders of this old institution extend a cordial welcome to everybody to come to the great Tractor Dem- onstration at Fremont—August 7 to 11. The pleasure will be ours OFFICERS: ¢ To obtain that satisfied feeling t the drink must be— Golden Rod Soda Waters The Golden Rod brand is refresh- ing, healthtul, invigorating and pure Manufactured by The Fremont Bottling Fremont, Nebraska P OO i G 3 O G T :' WM. E. SMAILS, Vice President and Cashier. VICTOR SEITZ, and RALPH H. BUSS, Assistant Cashiers. G. F. WOLZ, B. W. REYNOLDS, R. W. McGINNIS, J. O. MILLIGAN, H. J. HAUSER. ) = Works £ e