The Advocate and news., 1898-02-02

uln DeBhAl 10 chNIBe my Hlnu, ana 10 De-
lieve that in many things he had been
misrepresented. Before leaving him / be-
came convinced that he had neither hoofs
nor horns, and that although we disagreed
POLITICALLY he was honest, capable
and straightforward I'm thought and action.
To make sure that my impression was
correct l went to the political leaders OPP
posed to him, to the best-known members
OF the bar in Topeka, to editors in various
cities and towns, 10 merchants, bankers,
ana farmers, and II is pleasure to give
the lnvarlable answer to my inquiries as
to Mr.. Breldenthals character and trust
worthiness. Summed up It was:
There Is no more honorable man, no
fairer political antagonist, no more pRtri-
otio citizen, In Kansas than John w. Brel-
denthal. You may depend on any figures
he gives you absolutely"
Some persons may regard this as ex-
aggeration, and II may be something OF a
surprise to Mr.. Breidenthal hinself who
has had TO- bear his share OF attack in
politics, to know what his fellow citizens
really think of him, but l challenge any
contradiction or my assertion that his rep
ntatlon at home is as l have given It,
There Is a very simple reason for this
1t Is because the point l wish to make
about Kansas debt-paying depend upon
figures that Mr.. Bredenthal gave me- II
Is his business to visit every State bank
in the commonwealth. His own loan COM
pany was one OF the seven that did not
90 down In the wreck following the boom.
He has spent all his life In the atTnos-
phere or loans and investments, and his
friends and political enemies assert that
no man Is more competent, by reason OF his
official place and personal experience, TO
talk OF mortgage Indebtedness I'm the State
Mr.. Breidenthals figures go back twenty
years and are divided into periods of five
years each, the average time Of Kansas
loans. From 1878 to 1882 inclusive he es-
Inmates the average Kansas mortgage In
debtedness at $5OOOO,OOO and the average
interest from to 10 per cent; from 1889
to 1887, average Indebtedness 500 900 900
with the interest from to per cent;
from 1888 to 1892, indebtedness 5000, 900 ,OO0
with interest from to per cent: from
1893 to 1887, Indebtedness $l5OOOO,OOO with
interest from to per cent. The aver
age Indebtedness for all these twenty years
was $l25 100000 year, and the average in
terest during these twenty years was
per cent. Mr.. Breidenthal estimates that
the total losses to Eastern investors dur
ing these twenty years was $25, 900 900, but
says that there was paid on the average
indebtedness OF $125 100000 year interest
that averaged per cent. In other words
Kansas paid to Eastern investors an an
nual average interest on all investments
for twenty years of So $50 ,0O0, and the total
amount OF interest paid in twenty years
was the enormous sum Of $175, 900 900 on
a principal that aggregated In that time
@OOOO,UO The average population at this
time was 100000, 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 $l46
for every inhabtant. The United States
census for 1890 gave the entire mortgage
Indebtedness of Kansas for that year as
$24O,OOO,OOO but that included all kinds Of
mortgages, and made no distinctions, be-
tween those from the East and those OF
the VESTS own making. Mr. Breidenthal
says that reports and figures sent to him
show that since 1880 Kansas paid no less
than $l50,OOOOO Of her mortgage debt, leaV-
ing $9O,O0O,OOO to be accounted for. accord
ing to the figures of the Federal census
He says that since 1890 there have been
foreclosures amounting to $4,000 900, and
that on April l, 1898, the mortgage indebt-
edness Of the State will be only $50 900 900,
aIthough the average Indebtedness for
twenty years up to the same date has
been $125 900 900.
Here is the summary which Mr.. Bre-
denthal makes up his figures; Total fore
closures In the twenty years, S60OOO,OOO;
estimated absolute loss in twenty years,
$25 100000; total interest paid in twenty
years, $l75,OO0,000; net interest paid, de-
Quoting the total loss OF $25 900 900, $3.50, ,000-
OU. Then net sum paid despite losses,
vestment.
In other words although no less than
S5, 600 have been lost outright to East |
ern investors in Kansas mortgages, the
aggregate Of such indebtedness has been
throughout all the hard times the State has
paid, actually paid, upon its mortgages
good, bad and indlfferent-the average in
terest of per cent. or course these fig |
lres apply only to the mortgages OF the |
state involving Eastern money. They can
not apply to the wildcat investments in |
securities that secured nothing |
except an easy way of making money for |
The promoters"
To the Eastern investor who lost all |
ne sent to Kansas these figures of thrift |
md evident desire to pay ones debts may
have m0cking sound, but, taken as q |
whole, they make a showing that is not
o the discredit Of Kansas, considering the |
temptations to which she was subjected
n the matter OF reckless money-borrOwing
As illustrating the feeling OF bitterness and
he misunderstanding on both sides in this
natter Of Kansas investments, | print
lere, omitting names, the letter Of n clerk
n Connecticut to the cashier of n Kansas
Dank, and forwarded by the cashier to
Bank Commissioner Breldenthal
-, Connecticut, July Z, 1897.
VAAa V.AA "a