Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1895-01-17

! 471S234AVab
4 erty that they found placed below Its actual
: value; and In case county assessors are 70 40
/. the work, the time Of assessment should date
, from January !, thus giving two months more
/ time for the assessment. But there Is little
/ hope Of improvement until more faithful ad-
! ministration Of the law can be had. II makes
/ less difference what the law Is than how II IL
administered There ought also to 30 some
. right Of appeal from assessments that are
: grossly and outrageousiy unjust Now the as
, SCISSOR fixes the valuation, the commissioners
. refuse to change II, and the taxpayer Is Obliged
4 10 submit TO what he knows Is legalized rob-
berry. lam well aware that the right to appeal
would have TO DO restricted, but the very TACT
that the right TO appeal existed would make
, the county commissioners more willing TO 40
justice.
Collection Laws.
The legislature Of 1903 enacted law to regu-
late the sale and redemption Of real estate I'M
der execution, etc. 1t was doubtless the pur-
pose and desire 0f the trainers Of this act to
furnish relief TO those who had mortgagcd their
homes and were unfortunately unable to meet
their obligations: but the law seems to have
had directly the opposite effect from what was
which tho law is hasad ia a nernicions one.
dasr. IN call vonr o,,artion IN Ia nractical
wnr,,in,s
foni,a1 Ia rrovo,b;al,v tiu,a, II yoes oniv
vharo i, ia urotactod. +, scsnts danyer a. o,ick-
10 and as LaenIv nc a Wild animal and AZ
nromntlv .eeLe sofetv Canitnl cannot he
drivan nv ,egisatfva anactmcnts In make in
vestments where II ia mt safe md any attempt
NJ that lind drives a ouickly from the state.
This result IL as sure tn follow AZ vater Ia TO
RIM down hin.
The past two years have witnessed rapid
withdrawal Of capital from the state, and the
amount would have been much larger II tcould
have been collected. It ls estimated that
Oh, 0oO, 900 have been withdrawn the past two
years by parties In the east who had loans se-
cured by real estate, and who have lost conf
depce In Kansas Investments; while nearly oil
the large insurance companies ind savings
banks which have been accustomed to make
loans here. positively refuse to take any new
mortgages until the laws are changed.
take II for granted that there will be no dlf.
ference OF opinion ~ 10 the advisabity Of So
curing investments Of foreign capital The
wonderful development Of our grand young
state-unparalled In the history Of the world
has been due, to q very great extent, to the free
investment OF capital from tho eastern part Of
the country. This has been In the main large
ly beneficial to both sections The lender has
received fair rate Of interest," and the bor-
rover has in most cases made money by his In
yestment, while thousands Of others have been
greatly benefited by the rapid Development Of
the state and the consequent Increased value
Of oil property. Without these Investments
there would be few miles OF railroad In opera
ton In our state to-day,
1t Is worse than ide-it Is simply ldiotic-to
brand every Eastern man who has sent money
| TO the state TO be invested rs robber and an
enemy and the results Of this course have
been to work serious injury to the borrower.
In fact, but for the impairment Of our credit
by the legislation under discussion and the
public sentiment 1t represented, there would
have been no such demand for the payment OF
mortgages, from which we have suffered SO
UNNECESSARILY, but lenders would have sought
TO extend their loans Ut reduced rate Of I'M
terest. " isa well known fact that the large
part Of the money invested in mortgages IL
| either the property Of people Of small means
who have retired from business ana live on .
soanty income, or Of savings banks and life Inc
surancc companies who hold in trust and loan
tho hard-earned savings Of the poor,
The lender as rule does not ask any consid-
eratIon he can and will send his money here
when he Is satisfied with our securities, and he
can withhold II when he Is not He Is froe to
| 10 or stay "a he pleases, and have never vet
bean able TO discover TINT scctaran beliefs or
political views made any difference with the
moner- loauer in the matter of hts considera-
tion Of investments. Il Is quite different with
the borrower, he Is here to stay. Is already In
debt and needs In most cases an extension NJ
time In order to help him nav his liabilities
II is not A question with him whether ne will
contract A new debt. he already has the debt
hanging over him. and his greatest need IL
more time In which TO meet it at lower rate
a. interest 'NV
1t Is hardly necessary to discuss here The
question of whether the mortgage indebtednoss
Of the state has been benetit or an injury ter,
is,s and the great mass az our neonle dexire n |
honostjv nuv their dohts at tha earliast possis
hle ,nomen, s ItIs grati,oIny fac, that am
nronerlv he mentioned in This connection that
ihe census returns show three- yo,rths NJ tha |
mortgage indebtedness renreseuts eithar ibs |
rurchass moncv NJ ths farms or nermonen, i'm.
rrovements thereon And Inc fur,her fact
Mini no mcntjoned that Tho incrsasad |
valns n, tho real esta,. In ,he s,nte from
ism In ,soD the neriod when most NJ tho
dobt was croated was luryelv in eycnss NJ tha
total NJ MI mortyayes and nearly sna,cen, IN
INV The entjre indrhtednes, mud nil n, tho In
terest thereon for tbp Ion vears And mis- in
creo sad valne W 10 l,rg.,y tho resul, NJ ,bo nm.
,orn.iss md ener,v ,ha, nromn,o1 man ,o
INV farm and In nlaeo mort,no,s an tb. ,ormo
thcv already owned that ,bev mjyh, lncrea 20
their acres or make bettsr improvements
,here,n mo nrasont conaltion WIN con.
Ndenea e,tirn,y gone a., tho mr., of iuyestors
10 nm nm eortunate ana ,nr tbo hnrrowers Vbra
tbs return NJ favorable agrieutura, conditions
AMI ,ood cr,ns will ho an i,u,ort,nt claimant IN
restoripe confidence en-, n Is ma, Tho orinc,nnI
ana md IN, strnno,., moot a, this statemn'r
ia fonnd IN tbc mi IN m NOV IN r,I est,te
loans Ann h. o,,t,ioeJ M ana oasilv and at less
rates Of interest. in Missouri md Nchrnska
than II can In Kansas
There are two imnortant considerations that
are taken into account by every prudent care
full investor. The nrst Is the complete protec-
ton from loss. tho absolute assurance that tho
loan will he paid and tho other is the prompt-
ness with which the debt can be collected. In
ease II IL necessary to resort to forced sale Of
the security You NAV ennct AS many laws az
YOU please. but Won cannot disturbthe lmmuta.
Bile law of trade that makes the rate OF interest
depend ON the security and the ease with