Omaha daily bee., 1906-05-27
COOPERATIVE HOMEBUTLDINC
Annual Meeting Of Nebraska League Of
Building and Loan Associations.
POINTERS FROM THE PAPERS READ
Opportunities for Local Associations
I'm Towns and Cities-Tendency of
Association Activities - The
Necessity for Caution.


Necessity for Caution.
The fourteenth annual meeting Of the Ne
brsslxa State League of Local Building and
Loan associations was held at Seward last
Wednesday. Delegates were present from
associations In Omaha. South Omaha. FIRE.
mont, Columbus, Grand Island, York, Au-
burn, Havelock, Blair, Hastings, Norfolk,
Aurora and Seward. Afternoon and even
ing sessions were held. Between them the
visitors were taken in automobiles around
and about the CITY, and to the city park,
through which the Blue river, arched with
trees, flows in a serpentine channel. After
the evening session the delegates were the
guests of the Commercial club at a lunch
con and smoker, topped with Informal
speeches-compliment educational and
humorous.
Seward and its surroundings just now
presents as pretty a picture of town and
country as all Nebraska affords. As one
OF the Omaha delegates expressed 1t at
the Commercial club fest, Here in this
little city the charms of urban and rural
life are delightfully."- intermingled. The
situation is beautiful. Embowered on
lawn-crested hills, with elegant homes evil
dencing the taste and industry, as we'll
as the material prosperity of the owners;
with schools and churches TO train the
mind and guide the soul; substantial and
well ordered marts of trade sufficient for
present needs; strong, wholesouled men to
shape the city's destiny, and handsome,
gracious women to cheer and brighten
iife's journey-surely, gentlemen of Sew
ard. you have warrant for claiming this
TO be the long-lost Garden of Eden, with
| modern improvements" What was said
OF Seward applies as we'll to towns and
country within the range of vision from
railroad train. Travelling from Omaha
to Seward one is impressed and charmed
| by the beauties of nature in spring garb.
From the car windows is beheld a moving
| panorama Of green fields, full-robed trees
| and countless homes in emerald settings.
| The plowman and the seeder are afield,
! tickling the ribs of fertile soil, which in
| due time will smile a harvest. A process
sion Of towns and villages give outward
evidence of prosperity in well ordered
homes and attractive surroundings. To
one whose daily horizon is hedged by
brick walls, occasional glimpses of tree
tops, smudges Of black smoke and the
/ Iowa bluffs, a view of the country in
May is an inspiring pleasure.
Such invigorating scenes and surround
ings electrified the currents OF the assem-
bled delegates, stimulating energies and
resolves to spread the gospel of home
ownership wherever in Nebraska tenant
Is found.
oversealous Tax GnthererS.
The chief subject OF discussion concerned
the attempts made by several county as.
SCISSORS to levy a direct tax on building
and loan associations. Under the revenue
law. association shares are listed in the
personal schedules and are returnabl,
for taxation precisely deposits IL
state and national banks. When the rev
enue law was under consideration In tn,
legislature. these shares were included 81
the section covering bank and other cor
porate stock. The committee, of which
Judge Sears was chairman, on being showI
that these associations were substantial!
mutual savings banks, or "co-operativ,
banks" as they are known in Massaehu
sets. had the latter clause stricken from
the bill, leaving holders of shares, no
the association to return their holding
for taxation as personal property. Som
assessors demanded from association ON
GERS lists OF their shareholders and OBJ
, tained them In a few instances. Whe1
such a demand was made last year b.
, the assessor OF Lancaster county the Ne
braska Central association OF Lincoln re
! fused to comply. Thereupon the assesso
made return on the mortgages held b.
the association. An appeal was taken b,
the association TO the district court
decision in favor OF the association wa
rendered recently wherein the court cite
the action OF the legislature in striking
, out the words building and loan" frou
) the corporate stock section. thus expressl