Omaha daily bee., 1908-10-18

last week or ten days because OF the APP
rroaching election. While the effect OF
tho campaign Is noticeable in almost every
line OF business. It is more than ever de-
pressing in the real estate business and
seems to be without any mere cause THAI
following tine custom Of other years and
holding off during the last tyo months Of
a presidential campaign.
Almost without exception the real estate
dealers feel certain OF a good business after
election, whether the democratic or re-
publican party wins, but for some reason
business is practically at a standstill so
far as big sales are concerned and inquiries
are correspoEdingly lighter.
Nowhere is the effect Of the presidential
campaign more apparent than in the bust
ness OF the savings and loan associations
or building associations. These institu-
lions are financing some building opera
lions, but as deposits are not coming in
freely It is probably better for the organi-
cations tina there IL TO more demand for
,oans than there is. The associations, how
ever, expect to do a better business after
November 1 and are planning to take care
Of all demands. So sure are certain finan-
cial interests that activity will mark the
period after election that plans are being
made 10 organize another building and loan
association along lines similar TO those
followed by the three large associations
DOW doing business In Omaha.
Some difference of opinion evidently
exists between the organizers Of the as
Scciations and the state department as to
whether the savings and loan association
wIA,s1I a. HANA ~. ofoNa aaa.aVa n kFn
Incorporation fee. Experts have held that
he associations are exempt from paving
The fee and from paying taxes. but a new
association In process of organization has
paid q fee and one Of the old associations
In enlarging its capital was compelled to
pay q fee. The business of the building
and loan Associations is run on a very
narrow margin. the companies collecting
as a general thing rs per cent and paying
stockholders and deposltors 6 per cent OH
their actual investments. Thus a company
Is required to maintain an office, pay a
secretary, do some advertising II II gets
its share OF the business, pay for stationery
and other expenses besides the salary Of
the secretary on rs per cent OF the amount
Of loans on which interest is paid. In
view OF the narrow margin organizers con-
tend that the state should require no in
corporation fee ard some OF the state Off
cials at least are inclined to agree with
them.
For some time the Omaha Real Estate
exchange has been considering the advisa-
biity of strictly enforcing its rules in re-
gard to memberships. and particularly with
regard to those members who do not main
tain offices in the down town district but
are curb dealers" so to speak. Occurrences
of the week have called the matter to the
attention of members of the exchange. and
they declare there are a number of mem
bers who retain a membership in the ex-
change but do not maintain offices and
come under the class eligible to member
ship. There is talk that at the next meet
Ing Of the exchange this class of dealers
must step down and out of the Omaha ex-
change, which has a rule governing the
admission Of such dealers.
Influences Of the University of Omaha on
north side real estate are already being
felt by dealers who have vacant property
around the tracts bought by the university
corporation. The purchase for the school
amounts to a little over nineteen acres. for
which the university has contracted to nav
about $4,000, and as a result OF the an
nouncement one firm which has many lots
in the vicinity has sold all but two of the
vacancies. The university corporation gets
both the Kountze and Redick tracts for
one-fourth down and balance IN three or
NV years. This enables the new instItu-
ton to control it's real estate for 500 O00
and a large sum has been paid on this
amount, assuring the success of the enter.
prise. To get the nineteen acres together
the university corporation was compelled tc
buy eleven lots In Kountze Place which
We're sold during the year by Hastings &
Heyden. but all owners have been excep.
tionally reasonable in dlsposing of thelI
contracts and almost every lot which was
bought for $3.50 during the early part OF
the year was sold to the university foI
$SSO 10 $500, though many lots in the yicin.
ity are worth more than $1,000. and the 10.
cation OF the school means they will h,
worth more. Real estate dealers are o.
the opinion that few public Institution,
ever secured a better bargain than the Uni
versity Of Omaha.
The filing Of deeds to the Union Pacifi,
railroad for right-of-way for the Lane cut
or Kept the amount Of the weeks trans
iers up to the usual figures, but since tn,
sales were made several years ago the $40
600 which showed up in the transfers 4
credited to another period.
Since the University of Omaha has ex
pended $4,000 for property in Kountz
Place and Redick's park sales have bee,
recorded at a lively rate in the north par
OF the city.
r. f. Wilcox has bought the home n
Charles Martin at 1872 Lothrop street. paw
ing 1888 for 1t, while Hastings & Heyder
agent for many lots In the north part O
the city, ave sold the following lots dur
ing the last three days OF the week:
Lot in Fort View Terrace addition to Ed
ward H. Brace; consideration, S275.
Lot on 4lst Ave, just north of Anne
avenue, to Sadie Stubbs; consideration. SOS
Lot IN Kountze Place, on Pinkney stree
between Sherman avenue and Eighteenth
10 s. Rector; consideration, 500.
The Bungalow at the northeast corner {
Twenty-third and Henderson streets to
c. savidge; consideration. S2.TJO.
Lot in sulphur Springs addition, on Sper
Ger street, just east Of Sherman avenu
70 Frederick Diers, to be improved, $500.
Lot on Saratoga street, between Thirt,