Omaha daily bee., 1899-09-10
COOPERATIVE BODYBUILDING

CO-OL hHhIIib HUME
Acting under the provisions Of the
new law governing building and loan
associations in Nebraska the State
Banking department has secured from
such associations reports Of their trans
actions for the half year ending June
30 last. Formerly reports were re.
CURED at the close of the calendar year.
The change from December 30 to June
30 is considered an improvement, as II
enables the Banking department to
present to the legislature reports EN-
bracing the latest statistics.
A summary IF the report compiled
by the department presents some facts
and figures that will attract attention.
The most striking feature Of the report
Is the steadily decreasing number of
associations in the state. The falling
Off noted in recent years was attributed
to the business and agricultural depres-
sion then prevalent. An increase in
number was generally expected with
the better times Of this and last year,
but these expectations have not been
realized. On the contrary, the decrease
continues. In 1892, when the first state
report was issued, there were II asso-
Citations in the state; in 1893, 81; in
1894, SO; 1896, 81; 1893, 81; June 30,
1893. co..
An explanation of this remarkable
slump In the BODYBUILDING movement
IN Nnhrn GEO i1 nNt aar- 10 al
braska associations, as a whole, have
been peculiarly fortunate. They were
not menaced by the speculative con.
Germs which wrought such havoc in ad-
Joining states during the last ten
years. Fair and liberal laws and foster
ing state supervision promoted their
growth and prosperity. Those which
withstood the stress of panic and hard
times, when scores of other financial
institutions were overwhelmed, met
every reasonable obligation, while those
retiring from business, voluntarily or
involuntarily, caused but trifing loss
to shareholders. Both in Management
and results their record is an admirable
one.
The statistics Of the department
throw some light on the question. They
show n steady growth Of associations
In cities and towns largely. populated
by wage earners and a corresponding
falling off in strictly farming commu.
mites. In the early years Of the move
ment in this state, particularly during
the boom period, associations were
started in various localities without
due consideration Of the material avail
wants of wage earning members were
supplied. When business was sought
among farmers association rules were
found to be a bar to much progress in
that direction. Periodical payments re-
CURED by all associations proved to be
unsuited to the needs of farmers. Con-
sequently associations started in farm
ing communities were obliged to re-
strict their business and in many in
stances retire from business.
The decreased number of associa-
tons does not, however, indicate a ma
terial decline in the total business
transacted. The combined assets of
the sixty associations amount to $3,331,..
O42, a decrease of only $59S, 1856 from
the high record of eighty-slx associa-
tons in 1894. Stronger evidence of
their popularity is found In the steady
increase of shares in force. In 1894
the number was 71,231; in 1899, 1873.
1t is evident, from these statistics,
that Nebraska associations are adjust
ing themelves to conditions that insure
%permanency and in communities where
their methods of business command
popular support.