New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-07-19

cOUNTANTS, ATTORNEYS, CAPITALISTS AND
REPRESENTATIVES, OF LARGE FINANCIAL
INTERESTS IN ENGLAND. GERMANY AND
AMERICA.
DENVER COL June IS. 1890.
To CHARLES n. FOWLER, ESQ., President OF inc
Equitable Mortgage Company
Sir: Having accepted an Invitation OF he Equi'soio
,,eaeo Germany in MAY last to visit those sections Of
bs United States Of America in which the Company car
res business, and TO inspect as many a. pos''. Vi
the agricultural properties upon "nlch money mas o
leaned on MORTGAGE form opinion Win ree"ru
70 the securities taken by Company and the general
soundness Of undertaking we proceeoed 70 WISH 'ho
following places namely: Washington, d. u AViah'"'
Amcricus Macon Grin1n in the State OF Georgia
parts Of the Mississippi and Yazoo Delta, and VckSoWg
Ga Mississippi; New-Orlesns and Shreveport IN LOUISIANA
Dallas and Waco In Texas Little Rock ana Pine Bun
I'm Arkansas Kansas City, in Missouri; NsIley fas III
Kansas; and Denver in Colorado
In reaching these centres vast extent OF country was
passed through sfordng opportunity OF observing
the general character the agricultural districts In winch
the Company carries on It's operations
Our Investigations have been directed especially 70 inc
following points
pany and its auxiliary financial institutions
2. The methods adopted in and about the negotiation
and cornletion Of the loans and the examination and
valuation OF the properties upon which they are Sc
cured.
g. The fulhment of requirements OF the local laws
as affecting securities
ny We nave been fayoraby impressed with the char.
.etr and standing gentlemen connected with the Com
pany large number OF whom we nave been brought
into personal contact. Al several oil the aPoVe'amed
places the Companys business is carried on through the
medium OF banks in which IL holds controlling interest.
We had repeated opportunities of meeting the gentlemen in
charge OF these Institutions and satisfied from
our interviews them. and from careful inquiry. that
they are standing in their respective towns and
that the banks invariably enjoy excellent credit
O. The methods adopted in dealing with applications
for appear most satisfactory and complete evinc-
ing careful attention all details essential safety Tho
practice employing special independent examiners or
Vauers (who saaried ocers-not remuneraed by
mssion) the local valuations has fullest
prevail much impressed with the apparent
OF those examiners who have accompanied us upon
visits of inspection.
The numerous farms and plantations visited by us ap-
peared afford abundant security for the advanced
selecting the South additional field for its
operations think the company acting judiciousy and
with foresight.
Every opportunity been afforded Of making full
Investigation the companys methods Of doing business
and questioning all Of the officials. In addition
to this embraced opportunities of gaining
information from local. independent sources-which nfor
has proven Of satisfactory character
3D. We have had interviews with the attorneys en-
ployed by :he company the districts visited. We
satisfied that they Of high position in their pro-
ession and appears that he company is acting
under legal advice They closely Intercepted by
legal gentlemen Of party various points OF law
and the answers given were entirely satisfactory
In concluding this statement We are unanimous in eX
pressing opinions
First That the system OF employing local banks as loan
ing agents-nsucurated by company and practsed
know, by 1t alone-has already been produc
tive Of satisfactory and affords every promise Of
Among the advantages the following arc
apparent:
l. minimum OF expense in making and caring
for the loans for final payment.
2 The advantage having local board OF directors fam
lar with the credit and character Of the borrowers
and with the OF the land in their respective
localities, thereby enhancing the degree Of safety.
g. While personal agency is liable 70 the disadvantage Of
Interruptions and change. the banking agency has the
obvious and very great advantage OF permanency and
consequent continuous care OF the business.
Second That the mortgage system of the company is
skfully devised and well adapted insure safe and
prosperous business.
assurances OF confidence in the management and
methods your company. are, sir Yours faithfully.
WALTER ANNECKE, Neue Friedrechstrasse 5254 E. c..
Berlin, Germany.
H. RANKING, DelaInere Terrace w, and IL St. Hecns
Place. f. c., London, Eng
JOHN H. KENYON Sol tor, IA North John Street Liver
pool, Eng.
A. PHILIPS Jr. $40 Hereengracht Street, Amsterdam.
Holland.
w. b. LowsoN, 6 Royal Avenue, Belfast
c. BIRCHALL, 80 Castle Street l. Liverpool. Eng.
G. P NORTON of Arnitage & Norton. Huddersheld Eng.
JOHN MACINTOSH, Standard Building, James Street.
Montreal, Canada.
II. F. RICHARDS. &c Pine Street Providence. T.. 1.
CHAS. F. STEVENS Walker Building, Worcester, Mass.
CLARENCE Z. BACON, Mlddletown, Conn.
BENZ, !. LEEDS. 2l6 State Street. Boston, Mass.
ALDEN CHESTER, 10 and 10 Tweddle Building, Albany
NJ
W. W. PORTER, 023 Walnut Street. Philadelphia, Penn
JOHN ]. MACDONALD, Produce National Bank. Phila
dephia Penn.