Omaha daily bee., 1909-01-18
TIMELY REAL ESTATE GOSSIP
Savings and Loan Associations Doing
Big Business.
INQUIRIES AS TO PLAN MANY
sale Of Deere Warehouse Largest
single Item In Several Months in
City and News OF Deal
Awakens Interest.

Money is being put down on the counters
OF the savings and loan associations OF
Omaha at a rate which would Indicate
that the organizations will have more
money than ever to loan for home build
ing when the season opens In the spring
Not for years, say the secretaries OF two
of the associations. have so many people
inquired about the terms Of deposit and
not for many years have so many walked
UP and put in lump sums of money, taxing
from five shares at $500 to thirty shares at
5000 or stock. in almost every instance
paying 6 per cent interest.
All classes of people are represented
among these investors-those who pay Is
or 80 per month 10 mature n few shares OF
stock and those who prefer to take the
stock in blocks Of 1900 to $4,000, at 8 per
cent. TO buying western real estate mort
cages at 81 to 8 per cent and paying an
agents commission out OF the Interest.
The plan OF the building or savings and
loan associations in Nebraska is not well
understood or there would doubtless be
more investors in the stock Of the asso-
Citations which every year make so
many home owners possible. One Of the
dSbOClhtfOnb WHiCn ~ Opohohhb W
fully in Omaha collects just e5 cents per
month per 500 from those who borrow
money on thell homes. From this e5 cents
on each 800, the stock holders are paid
80 cents per month on each 800
share OF stock and Is cents paid by Dor
rowers pays the office expenses and secre-
tary's salary. The plan Is simple. economi-
cal and the borrower pays but rs per
cent for money, with privilege of paying
It In big or little sums as convenience may
necessitate. This Is lower than many first
mortgages on city real estate, In fact
one mortgage on a city lot was filed not
long ago where $4,000 was borrowed for
one year and the rate of interest was 10
\ per cent. Thus tho savings and loan assoc
Citations are playing their part in the up
building Of Omaha and real estate dealers
say, do their full share in making the
business active.
It is generally held that the biggest deals
which will involve building during 1903
/ have been largely completed and news OF
them published. This Is true in a broad
way, but 1t To-. on the other hand, too much
to say that there will be no other large
sales and improvements during the year.
Certain pieces of property are in request,
such as the southeast corner OF Harvey
and Sixteenth. on which half a dozen men
would build at once II they could come to
terms with the George company. which Is
agent for the corner. Some OF these fine
days an agreement will be reached In all
probability and a large building go UP on
this unoccupled and most desirable corner.
Agents declare that there Is every reason
to expect the latter half of January to be
far more prolific of deals, both large and
small. than the first two weeks have been.
It would be strange IL this were not the
case, for the first fortnight of the year is
VIGOROUSLY q. poor one, In spite of this
the clerk who records the deeds and trans
fers for the county has not been totally
inactive during this period.
This attitude of the dealers received a
verification in the news OF the sale OF the
John Deere warehouse to the Rock Island
Plow company for a price said to be be-
tween s15O,OOO and s20o.OOO. The transaction
is the largest single one In the city in sew
eral months and the price paid will arouse
general interest. The Rock Island Pillow
company will be generally congratulated
on its acquisition, for the warehouse is a
first-class one in every respect and has an
enYlable location.