The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-01-29
KANSAS AND THE EAST
Continued from First Page.)

anu poullcal euecl, Out 10 SpTcau the mat
ter broadcast throughout the land He
simply wanted the truth about Kansas
known. II is also only fair to say tina.
before going to see Mr.. Breidenthal 1 had
the opinion of him that has been preva-
lent somewhat in the east, that he was
smart political manipulation and intriguer.
After less than half an hours converse
ton with him began to change my mind,
and to believe that in many things he
had been misrepresented. Before leaving
him 1 became convinced that he had
neither hoofs nor horns, and that al
though we disagreed politically, he was
honest, capable. and straightforward in
thought and action. To make sure that
my impression of him was correct went
TO the political leaders opposed to him.
to the best-known members of the bar In
Topeka, TO editors in various cities and
towns, to merchants, bankers, and farm
ers, and it is a pleasure to give the in
variable answer to my inquiries as to
Mr.. Breidenthars character and trust
worthiness. Summed UP it was:
There is no more honorable man, no
fairer political antagonist, no more pa
triotic citizen, in Kansas than John w.
Breidenthal. You may depend on any he-
ures he gives you absolutely"
Some persons may regard this as exag-
geration, and it may be something OF a
surprise to Mr.. Breidenthal himself, who
has had to bear his share of attack In
politics. to know what his fellow clti-
zens really think of him, but challenge
any contradiction of my assertion that his
reputation at home is as / have given II.
There is very simple reason for THIS
It is because the point / wish to make
about Kansas debt-paying depends upon
figures that Mr.. Breidenthal gave me- IL
is his business to visit every state bank IN
the commonwealth. His own loan COM
pany was one of the seven that d1d not
go down in the wreck following the boom.
He has spent all his life in the atmosphere
OF loans and investments, and his friends
and political enemies assert that no man
in Kansas is more competent, by reason
of his official place and personal expe-
rience, to talk of mortgage Indebtedness
in the state.
Mr.. Credentials figures go back TWEEN
ty years, and are divided into periods OF
five years each. the average time of Kan
sas loans. From 1878 to 1882 inclusive he
estimates the average Kansas mortgage
indebtedness at $50, 0000 900, and the aver
age interest from to 10 per cent; from
1883 to 1887. average Indebtedness 500, 00O,-
900. with the interest from to per cent;
from 1888 to 1892, Indebtedness 5000, 900.
with interest from to per cent; from
1893 to 1897, indebtedness $50 ,OOO,coO, with
interest from to per cent The aver
age indebtedness for all these twenty
years was s125, 900. 900 year, and the aver
age interest during these twenty years
was per cent. Mr.. Breidenthal estl-
mates that the total losses to eastern in
vestors during these twenty years was
sos, 900 900, but says that there was paid on
the average indebtedness of s125. 100000
wear interest that averaged per cent. In
other words, Kansas paid to eastern IN
vestors an annual average interest on all
investments for twenty years OF SS,f9ooVo'
and the total amount of interest PAID IN
twenty years was the enormous sum OF
s175 OO0 900 on a principal that aggregated
in that time $500, 000, 900. The average pop
ulation at this time was 1.200,0O0 and the
YEARLY interest actually paid to eastern
investors was a little more than 81 for
every man, woman and child, while the
total interest paid for the twenty years
amounted to nearly S146 for every lnhan-
liant. The United States census Tor 1881
gave the entire mortgage Indebtedness OF
Kansas for that year as 240,0O0,0OO, but
that included all kinds of mortgages. and
and made no distinction between those
from the east and those of the west own
making. Mr. Breidenthal says that re-
norris and figures sent to him show that
since 1890 Kansas has paid no less than
s150 oo0 900 for her mortgage debt. leaving
so1 600 900 to be accounted for, according TO
the figures of the federal census. He says
that since 1890 there have been foreclos-
ures amounting to $40. 900, and that on
April 1, 1898, the mortgage indeoteoness
~ the state will be only s500CO,00o, al
though the average Indebtedness Tor
twenty years up to the same date mas
been s125, 100000.
Here is the summary which Mr.. Breid-
enthal makes of his figures: Total fore
closures in the twenty years, s5OoooOoo
estimated
sos 600. 900: total interest paid in twenty
wears. $4,000 900; net interest paid de-
Quoting the total loss Of s25,0m,Ooo sloo'-
600 600. The net sum paid despite losses
therefore. is per cent of the entire In
vestment.
In other words, although no less than
go 0O0. 900 have been lost outright to east
ern investors in Kansas mortgages, the
aggregate of such Indebtedness has been
reduced from 1925, 900, 900 to s50,0o0,0o0. and
throughout all the hard times the state
has paid, actually paid, upon Its mort
cases-good, bad and indifferent-the av-
erage interest of per cent. OF course
these figures apply only to the mortgages
OF the state involving eastern money
They cannot apply TO the wildcat in
vestments in municipal securities that Sc
cured nothing except an easy way OF
making money for the promoters
To the eastern investor who lost all he
sent to Kansas these figures Of thrift and
OF evident desire to pay ones debts may
have a hooking sound, but. taken as a
whole, they make a showing that Is not
TO the discredit of Kansas. considering
the temptations TO which she was sub
iected in the matter OF reckless money
borrowing. As illustrating the feeling OF
bitterness and the Observation-Disclosures on
both sides in this matter of Kansas in
vestments print here. emitting names.
the Letter OF a clerk in Connecticut 10 the
cashier of a Kansas bank. and forwarded
BY the cashier 10 Bank Commissioner
Breidenthal: