davidaulloa/AmericanStories huggingface dataset:
St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1910-01-12

1t is dangerous thing to take acough
medicine containing opiates that merely
stife your cough instead of curing it.
Foley's Honey and Tar loosens and cures
the cough and expels the poisonous germs,
thus preventing pneumonia and consump-
ton. Refuse substitutes and take only
the genuine Foley's Honey and Tar in
the yellow package. c. c. Bingham.
St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1910-01-12
FOLEYSHONEYAn6TAR

Cures Coldss Prevents Pneumonla
Omaha daily bee., 1910-05-29

prompt return of capital and interest.
This being true. one may ask why a GER
tain form of investment, such as a bond,
earns lower rate of interest than another
when both may have the same prompt
payment of interest or face on maturity :?
This is on account of the convertibillty, and
therefore, demand by certain buyers. Banks
and trust companies must buy securities
of a nature that can be converted quickly
IL necessary, while life insurance COM
panies seek long time investments. such as
mortgages, and only invest certain per-
centage of their assets, about 40 per cent,
in what would be termed available Sc
eurites.
1t is seldom that safety can be embodied
in an investment that will increase in
value, but tho security of a first farm
mortgage is steadily increasing and the
rate of interest on the whole. il locations
selected are scattered throughout the
country and well inspected and con-
servatively made, is above that OF the
average. The life insurance companies
that have placed a large percentage of
their assets in farm mortgages have aver
aged l per cent higher interest earnings
than companies that have selected princi-
pally bonds for investment The only
losses on farm mortgages can be traceable to
those made in new countries where locations
have been doomed, where investors and
not owners were the borrowers ana where
climatic conditions were changeable and
the land should never have had the rating
given It. Mortgages on city property, while
earning good rate, require most con-
sentative and careful selection. Old frame
houses. houses cheaply built and not mod
ern. cannot be figured as a security al
all, and especially when in locality where
all adjoining buildings are modern and
up-to-date. Such a property becomes an
eye-sore and never will bring price near
It's worth. Then, large and expensive
residence should be given the utmost cars
in selection as security for a mortgage
The property may or may not be In the
fashionable district in few years. and Il
Omaha daily bee., 1910-05-29

may change ownership in the meantime.
In my opinion, the best form of security
for loans in city, aside from stores and
office buildings, are good flat properties,
conveniently located to car lines, conf
handing u rental value which the man
of average income can afford to pay; prop
critics in growing cities, Of substantial
character, modern and well furnished, the
appraised value being from ten to fifteen
times greater than the net yearly income.
such security is second to none, and mort
cages on this class Of property are also
readily convertible anywhere. Mortgages
ON nearly all kind of manufacturing plants,
especially in smaller towns, have proven
very bad and in the cities are good only
in small amounts as compared with full
valuation. Buildings used for places OF
public amusement, hotels, churches or
licensed houses, etc. should not be re-
garded with favor. and loans, If made at
all, should not exceed tho value OF the
ground for building purposes.
While we all agree that a mortgage is a
good form of investment either for the cor
poration OF individual seeking investment.
l now want to offer a plan for the safety
of the borrower, he being the party Of
the second part" in the transaction. Many
borrowers today, especially in the east arc
making arrangements to discharge their
loans through the agency of an endowment
life insurance policy, making the premium
payable at the time of the interest, thus
amortizing the loan. To illustrate this, we
win suppose a man wished loan OF $4,000
on fiat property bringing an annual
rental OF s2aO. lie will at the time OF
making application for the loan make APP
plication for a twenty-year endowment
policy on his life for the same amount.
The interest ON the loan will be, say per
cent. or 500 per year; the premium on the
endowment policy 500. making a total OF
500 per year. While this would appear a
high rate, 3 per cent, the borrower has
greater benefits in that in case death
should take him away. the Insurance policy
will pay Off the loan and give the property
Omaha daily bee., 1910-05-29

turn any old dollar, while II you rent a
house or horse. you must return the iden-
tical one you rented.
Interest is an important factor in
investments, and one OF the two elements
used by actuaries in constructing life in
surance premiums, the two elements upon
which life insurance calculations are based
being interest and mortality In life in
surance, interest gauges the premium rate
and in investments 1t gauges the quality Of
the investment A low rate of interest on
an investment means safety and a high
rate designates greater risk. Tho same
statement may properly be applied to NOR
tality tables in life insurance. The assumed
interest rate on mortality tables and the
entire interest earnings of insurance COM
panies, the largest purchasers of mort
cages, has steadily declined since 1875; then
the average rate of interest earned by
thse companies on their mean assets was
6.S per cent, while today it is fully per
cent less.
This reduction does not signify that
the securities have changed, but that the
companies are now buying fewer var
ieties, and experience has proven that
first farm mortgages granted to farmers
are not only a stable security, but that
the interest on them is maintained and
more promptly paid than on any other
form Of mortgage. This fact of interest
being paid promptly is Of most Importance
in judging the quality OF an investment.
1t has been said. and rightly, that the
three essentials necessary make a good
investment are, first, security; second. in
come; third, convertibility. You will note
the first and third control the second,
and the second gauges them both. This
statement was made by a New York banker
and financier, and did no doubt express
his views. but personally. 1 would be sat
isfied with an investment that would en-
body three elements. as follows; First. In
come; second. something that win in
crease in value; third. something that will
not keep me awake at night.
Safety cannot be beyond the point OF the
Omaha daily bee., 1910-05-29

to his beneficiaries clear of membranes.
On the other hand, the insurance company
having this greater security, reducing their
risk to a minimum, can make a much
larger loan on good property, and in many
cases, a loan on property that would other
wise be considered sub-standard. Should
the borrower live out the twenty years
the endowment policy will mature and pay
off the loan, or should he sell the property
any time after three years he could draw
the cash surrender value of the policy and
would thus have had only a low rate OF
interest on his loan. but would have had
the additional security of life Insurance
from the date the transaction was made.
In no other manner being able to secure
a large enough loan, this form of mortgage
with endowment insurance is frequently
used by Catholic churches throughout the
United States, the life insurance policy
being written on the life of the priest, and
the premiums paid by the ladies' societies
of the church. Each year the loan is thus
practically reduced, and this gradual re-
duction OF the mortgage could. or l might
say, would not be accomplished in any
other manner.
The same rule would apply to the farmer.
He could get a larger loan, acquire more
what he had, and his crops would easily
allow the small extra cost Of endowment
insurance, and he would therefore never
need to worry about the mortgage hanging
over him. as year by year it decreases. and
If there came a year when crops were
poor, or If sickness should overtake him,
he has the cash values OF the endowment
policy available to meet the contingency.
To the business man owning a $4,000 flat
property, and wishing to use all OF his
money, / would suggest term insurance.
His gross annual rental income from his
property is. say. $500 His interest on his
$1,000, five-year per cent mortgage is
500; annual premium OF the five-year term
Insurance policy on his life is 1925. Thus
you will see that by the payment OF less
than IA per cent interest more ne can
keep his property clear, in case Of his
Omaha daily bee., 1910-05-29

death and the protection thus afforded Is
well worth the small extra cost.
/ earnestly believe that II an agent lend
ing money in Omaha or one OF the build
ing and loan companies, would advertise
that they had money to loan on homes,
and that in case of the death of the bor-
rover, the mortgage would be cancelled,
that this concern would get the bulk Of the
business both from the borrower and from
the large corporation furnishing the
money, as both mortgagor and mortgage
are safer than under any other plan. Life
insurance, as YOU will see, can enter many
forms of investments or philanthrophy. 1t
can either protect or prevent mortgages
The Young Mems Christian association
building I'm this city is mortgaged for about
$4,000. Here is MIR. John Doe, a retired
and Well-to-do citizen, who has more than
$4,000 available cash, but does not feel
AXE giving this amount TO the Young
Mems Christian association for the rea-
son that he would be taking II from his
children. Now what should be done is
this: Have John Doe take out a life in
surance policy on his life for $4,000 pay
able TO his children, he TO then give the
Young Mems Christian association $4,000
in cash, and thus wipe out their mortgage,
with the proviso that they in turn agree to
pay the premium on this life insurance policy
so that at his death the insurance com
pany would pay to his children $4,000 in
cash. John Doe has thus benefited the
Young Mems Christian association by Civ
ing them $4,000 when they needed II,
made safe the $4,000 for his children, and
at the same time did not take away any
thing from his estate.
The Young Mems Christian association
would not only pay off their mortgage but
would be freed from paying per cent inter-
est indefinitely, by paying a lower rate (the
life insurance premium would be between
and per cent?, for possibly one year,
possibly five years. but not for many years
at most as the period OF the insureds ex-
pectanoy would show
As you are aware large institutions like
Omaha daily bee., 1910-05-29
Real Estate Mortgages Their Selection Protection and Amortization

railroads and / might include counties and
states, are rapidly adopting the amortiza-
ton of their indebtedness and on the other
hand the large lenders of money, such as
the insurance and trust companies, arc
striving more and more to get as large
percentage as Is possible of their long
time investments on the amortization basis.
1t is the only true system, sinking funds
do not for various reasons accomplish the
same purpose and / think the day Is not
for distant when laws will be enacted in
all of the states or the custom will be
adopted the same as in Europe to amort-
ize any and all investments or loans of any
size. When l speak here of investments
and loans, l include, of course, bond is
sues by the county and state and upon
investigation l think that YOU will agree
It is the best and safest practice for both
the borrower and the lender.
Amortization of all large real estate
mortgages would to a large degree prevent
real estate panics. l venture to state that
had an amortization plan been in use in
this city prior to 1893 and that IL all loans
Of any size had been made on that basis,
that few mortgagors would have lost their
property through foreclosure and few mort
gagees have had reason to complain, with
the result that what now appears as a bad
blot on the mortgage history OF Omaha
would have been to a large extent elimi-
mated.
The office Of every member OF this ex-
change that makes or brokers mortgages
or bonds should be equipped with a set OF
schedules of amortization, bond tables and
logarthms for the study OF this principle
that gives safety to your patrons, the mort
gagee and mortgagor, the buyer and the
seller of bonds. system that l believe
will eventually be thrust upon you This
practice has been popular in Europe for
generations, and while few tables are TO be
had in the English language. the schedules
and principles are easily obtalnabe.
When bonds are purchased. even in
reasonable amounts for investment by either
Continued on Page Two.)
Omaha daily bee., 1910-05-29
I'LL BEECHEk HIGBY

ley. Their business is growing in most
encouraging ratio, and all of them are
now regarded fixtures.
- Over. forty, life insurance. agencies are
doing business in Omaha, and their poll
cies are scattered all over the west. The
life insurance in force in Nebraska alone
at this time will approximate between
Nl5, 900 and $12O, 100000. including the in
dustrial companies but not the fraternals.
In 'Sthe, fraternalT companies the insurance
held1 BY NebrasKans aggregates; $5O7, 1888 S32.
Thus it will be seen that Omaha is the
focus point for great multitude of men and
women, who have been brought into the
insurance fold by the hustling agents, who
represent in the field the companies having
their business stus in this city.
1t used to be the case that farmers were
given little or no consideration as life in
surance buyers, and their fire insurance
was of little moment in the old days.
Today the farmers of Nebraska carry
almost as much life insurance, on the
average, as the dwellers in the city. Some
farmers, indeed, carry very large policies,
and their clean, open air life makes them
q preferred risk. In days travel, one
would not meet with a farmer, or a
farmers hired man, who is not a member
of one to half dozen fraternal insurance
societies; and the holders OF old line poll
cies are growing in number In the rural
districts every year.
This thing of life insurance for farm
ers is on the endless chain order" said
one agent Some enterprising man takes
out a policy and keeps 1t alive until 1t
begins to look mighty good to him. He
talks about it, and when his neighbor be-
gins to think of insuring the man with
the policy can advise with him wisely as
to the best kind to. take. Discussion of
Omaha daily bee., 1910-05-29

the question leads to investigation, and
investigation brings education in the theory
of insurance. as we'll as in its practical
application to the particular circumstances
of the man.. who wants TO buy. So today
farmers are good customers of the old
line insurance companies. as well as the
fraternals."
II any person still cherishes the idea
that insurance is in the nature of a
gamble, a glance at the office literature
of any Omaha agency will convince him
to the contrary. One. blank, which will
serve as an illustration, being at the
foundation of all fire risks written in this
or any other city, is known as the Sur
vey" 1t is made up from the analytic
system for the measurement OF relative
fire hazard" Both sides of this large
sheet are covered with lines giving each
smallest particular, touching every pos
sible kind Of building that can be erected
anywhere. Following the blanks dealing
with the physical hazards are schedules
of occupancy as to number. character, and
whether day or night workers. Then we
find credits for protective features" such
as standpipes, sprinklers, fire escapes,
fire alarm system. Waterman, heating
system, and other possible elements max
ing for safety from fire.
Every kind of building in every class
has its own particular rating, governed
by it's physical features, location, kind OF
occupancy and dozen other factors.
When a man applies for policy he gives
the number of his house or other build
ing and the agent tells him in minute
what rate is on that exact place. No guess
work, no approximation, no haggling. If
any company handles the risk at all. it
Is handled on definite, exact basis.
Omaha daily bee., 1910-05-29
FRANK HASKELL

that have entered the field, or. are about
TO enter. are governing themselves. In
their campaigns for business by the
tested rules which have gained chents
for their predecessors in the same FIELD
There are very few, II any, companies
of more than 1osaT- character existing in
the United States that have not general
offices or special agencies In Omaha.
Some of them, like the Aetna of Hartford,
have established a department office IN
Omaha, through witch all business. of
several states Is Transacted The Omaha
office Of the Aetna, for example, hand%s
the business of twelve states west OF the
Mississippi, taking in practically every
thing but Texas and Arkansas. Through
this and other companies the name of
Omaha is carried far and wide, and me
effect is bound to react for the benefit of
the city in some way. This is even more
true of the companies owned and Off
cered by Omaha people
In the life, accident and fidenity insur-
ance field Omaha has half dozen COM
panies founded, financed and managed by
local men. The latest TO enter the field
is the Commonwealth, with a capital OF
100000, and having some six hundred
stockholders, not all of whom are residents
of Omaha. but the control is here. OF the
older companies the Bankers Reserve is
perhaps tn most notable. Then there is
the German-American. the sGuarantee
Fund, the National Fidellty-and in the
fraternal field the IWoodmen Of the World
looms up like a giant
Taken by and large, for personnel, finan-
cial solidity, spread OF business. amount
of risks, commercial influence, advertising
force. field achlevements-the insurance
business OF the city of Omaha is one of
its great Institutions and one of its most
beneficial activities. The success of the
Omaha daily bee., 1910-05-29


est being an important factor in loans Of
all kinds, am. through 1t, led into a
maze OF mortgages, their qualities, val
ues, etc.
Tho general object OF mortgage in the
manner in which ! will use II is 10 secure
a money debt by making II a charge on
land. so that IL the debt so created be
not paid by the time agreed upon between
the parties. the creditor may sell the
land and pay himself out of the proceeds
Mortgages have been used for generations
and have passed through but three stages.
The first betting that the land was decided
outright TO the creditor, with the agree
ment that 1t would be decided back in case
the mortgage was paid as agreed. If. how
ever the creditor refused to deed back the
land the borrower had no other recourse
imam personal action. In the second
stage the custom was that the land did not
pass BY deed TO the creditor. but he was
given possession OF it until such time as
the mortgage was paid. The third and
last We find about the process we use to-
day. namely, a mortgage Is given ana the
owner OF the land retains possession of It,
and II the mortgage is paid when due. no
change appears in the title.
Mortgages are invested capitaI ana CANT
tai Is that portion OF wealth which is SET
aside for the production OF additional
wealth Capital or wealth is invested with
view 10 revenue, and therefore the IN
terest paid by the mortgagor is In a sense
rent for the use OF the money thus OBJ
tanned. Interest and rent differ. but NOT
essentially; both are agreed and stipulated
payments for the use OF capital. In rent
however. the same physical asset must he
H1Drned upon the completion OF the per.
r~d. II you borrow q dollar, you may re-
Omaha daily bee., 1910-05-29

existing local companies in the city and
state. and in surrounding states, indicates
a growth of home spirit in the insurance
line that, while 1t will not eliminate the
competition of the older companies owned
elsewhere, will keep them hustlng for
the new business that is growing up to
be written every month.
Operating in Omaha are 14 insurance
companies, through seventy-five agencies
The employees in each agency will range
from five to thirty or more, Amout Of
Omaha daily bee., 1910-05-29


men as a business center for their line.
The sale of insurance is very much like
the sale of anything else in the CONNER
ciai line The demand is the thing the
sellers seek Stoy connect; with: anti where
the demand is istrong there tine sellers
are on hand with an eye open for the
main chance.
Long ago the large eastern companies
!took occasion to size up the field here
about, and concluded 1t was. good. They
began 60 busily cultivate 1t, with the re-
suit that thousands of men ana women
in Omaha and Nebraska enrolled on the
books of the pioneer companies as buyers
of insurance contribute steadily TO the
income and also to the profit. So, when
the New York expose came, everything
developed at the hearings, good and bad
POUNDS its reflections in the homes of
Omaha and Nebraska where policies were
owned.
In recent years, local men who had be-
come familiar with the business, in either
fire or life. interested other men with
capital seeking profitable investment. AS
result of this awakening to passing
possibilities, a good many insurance COM
panies OF varying character, were organ
ICED. Somei were strong and we'll man
aged and so stood the test, until today
they rank as standard and successful.
Some passed out, of existence after ca
reers more or less checkered, and others
have combined or changed their plans in
the interest of safety and solidity,
These local companies have now been
sifted to the basis of merit and new ones
Omaha daily bee., 1910-05-29

from two to four states for his field. Ma
turany, for this work men of high class
are employed, and they are continually on
the go. Through their work the city is
brought before the business men of this
field, and every person having loss in a
wide stretch of territory must look for
settlement to Omaha men.
Four fire insurance companies in the
Omaha field are controlled by local men
and financed by local capital. These are
Columbia. State, German and Missouri Val
Omaha daily bee., 1910-05-29

fire insurance carried will run wen over
1900, and may be SlOOOO,OOO in excess
Of that amount. Premiums paid on this
insurance will total sS5OOOO year. Some
companies carry as much as $4,000 on a
single risk.
Eight general agents are situated in
Omaha, having jurisdiction in from one to
ten states. Probably fifty special agents
and adjusters live in Omaha, and work
out from here through many states,
special agent and adjuster may have
Omaha daily bee., 1910-05-29

The Bee aims to print a paper
that appeals to intelligence;
not to an appetite for scandal
and sensations.
Omaha daily bee., 1910-05-29
BY +. w. HERON

BY +. w. HERON.
is not without diffidenco that
I attempt an article on mort
Cages. a topic with which you
are so thoroughly familiar. but
as an insurance man i deal so
much with interest, and inter-
Omaha daily bee., 1910-05-29

MAHA is great distributing
center fer insurance because
|of its eligible location. Com
pared with other cities OF
about equal population, this city
stands high among insurance
The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1910-03-17
Was Confined TO His Bed

ST. PAUL, MINN.-For seven months
had been suffering with Rheumatism
and was confined to my bed most of the
time. Kuhn's Rheumatic Remedy was
recommended to me and after using q
full treatment was entirely cured. For
more than year have seen no sign Of
its return and fully believe that have
been permanently cured. It has made me
many dollars by allowing me to keep on
working without being laid up every few
days. and / cheerfully recommend it.
ARTHUR p. PATTON, 20 Front st.
The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1910-03-17
No Sign Of Rheumatism.

UTICA, n. VI had Muscular Rheu-
matism in my right arm SO badly that
had to give up my work. I read about
Kuhn's Rheumatic Remedy and sent for
a free trial bottle, which did me much
good. After taking two bottles I went to
my usual work and have worked ever
since. Altogether have used five bottles
of Kuhn's Rheumatic Remedy and I feel
that am ENTIRELY CURED, as it has
been months since l have had any sign
Of Rheumatism. j. NIELSEN,
202 Nielsen St.