Daily Republican., 1879-07-19

this size all over the country there ar
: source branches Of the "monsy maxim,
, scheme" that are not found in tn,
East, peculiar among these are th.
loan and trust companies, firm, anc
corporations who loan, exclusively
Eastern capital on Western real estate
at rates of interest varying from 7 to Il
per cent
In Topeka there is no less than six oil
these companies, all Of which are con-
trolled by sound business men and all
doing large business. | have been
indirectly connected with the largest
firm in the city ever since my arrival
here and speak advissdly when say
it does a business ranging from $50, 900
$50, 900 per month. The most complete
system prevails in this business and
no loan is ever made until it goes
through the following details: The
application is made by the owner and
sworn to, the property is appraised by
two disinterested neigh bors and the
appraisement sworn TO, the property
is then examined by the examiner of
the loan company and If he does not
find all the statements substantially
and specifically correct the loan is re-
jrcted; if these preliminary steps are
all satisfactory the title is then submit
ted to the attorneys of the firm, and il
accepted by them its correctness is certi-
fed to, the money is then loaned, the
papers made out and signed (ths iron
clad mortgage, it is called hers,) and
forwarded to the Eastern capitalist
whose money it was that went to the
borrower.
During a successful business career
Of ten years, and after having loaned In
this way over 81, ,O00, 900 this firm has
never lost single cent, not over five
per cent. of its mortgages have been
torec!osed, and its system of loaning is
pronounced hy competent judges as
absolutely perfect. refer to the firm
of Mrssrs. Gavet g. Scott, of Topeka.
The milling business is another pro
ftable pursuit here; there are two large
mills in the city, which run day and
night, each having capacity Of one
hundred barrels every twenty four
hours. lam creditably informed that
cne firm made S25, 900 last year.
On account Of the great number of
strangers who are always looming in,"
the hotels, OF which w have a half
dozen, are always full and do a thriving
trade.
| want to call the attention of yonr
readers to an instance of Western news
paper enterprise, that eclipses any
thing Of the kind ever before attempted
this side of the Mississippi. There was
the first Of March, two dailes-a morn
ing and evening published in Topeka,
but the editors of the Kansas "Farmer"
(s-mi-monthly) not having the fear of
competition in their hearts, and being
unable to buy out the "Blade," deter.
mined to start daily on the Eastern
plan I. e. a good paper at a moderate
price 10 cents per week-they COM
nrnced the canvas of the city, and the
irst issue-May 5th, ls79-number-d ,
200 copies, yesterday, No. u, vol. l :
all edition of 1000. .
The Daily Capital to day is the most :
prosperous paper in the West and It's :
prosperity is entirely due to the energy =
# its editors Hudson and Ewing. Mr.. =
iwing was formerly the editor of the
Cecil Wing and is no doubt we'll n
:nown to many of your readers. Topt- ~
is indeed in all respects the leading +
Ity of Kansas and the healthy growth ;,
'hlcA is continually progressing indi n,
ates the fact that, notwitlstandinp 4
ne rivalry of some of her sister cities, 4,
sr prosperity is to be a continuous ~ -,
ne; her business enterprises, the ener. n, r.
OF her people, and having the center -, a.
the society and politics fort4lls for W
er rich and bright future. t. II. C,