The Yakima herald. [volume] (North Yakima, W.T. [Wash.]) 1889-1914, 1912-03-20
Pacific Mutual Life Insurance Co.
Viii Operate New De-
partment Here
LOAN MONEY BACK
WHERE THEY GET 1T
Officials of Company See That
Prosperity Abounds Here, So
Announce Their Willingness to
Loan $25O,OOO

1t seems to be a generally accepted
proposition that times are good when
1t is easy to borrow money. Oc-
casionally times are good and there is
no necessity or desire to borrow. Tho
foregoing leads up to the statement
that the outlook for the Yakima valley
is exceptionally bright. The reports
of the banking institutions of Yakima
county in particular show that the
sums on deposits are phenomenally
large. Easy money here means a
rapid and greater development of pro-
ducing lands, the raising of more and
better sheep, cattle, hogs and horses,
and a more active participation in
business of different kinds.
Therefore, it is not strange that
outside companies, seeing the pros
perity that abounds throughout the
region where rolls the Yakima and
many smaller streams, are laying their
plans to loan their money in this fer
tile region and participate in the in
h. crease of values that seems certain
to follow.
The biggest thing along this line
that has been announced recently is
that in connection with the visit here
3. Wednesday of two of the prominent
officials of the Pacific Mutual Life In
b surance company. Gail b. Johnson. Of
Los Angeles, Cal, first vce-president
and treasurer, and Fl. Fl. Ward man
ager in the Pacific Northwest They
spent the day in an automobile trip
over the county, with j. ID. Cornett,
president of the Traders Bank of
Toppenish, accompanying them to
furnish the information for which
they were seeking The trip covered
about 40 miles in the forenoon and
the same distance in the afternoon.
y, one of the excursions was through the
lower Yakima valley, the other
through the Selah and Naches val
leys north Of North Yakima, and over
& the Tieton government irrigation pro-
~ ject.
r Messrs johnson and Ward were
guests of the Yakima hotel Their
company has heretofore been doing a
large insurance business in this
region, but the important informa-
ton to be given out in connection
with their present visit is that they
have decided to give to the farmers
here the benefit of the loaning de-
partment of their company. BY farm
ers is meant tilers of the soil of diff
ferent kinds. orchardists, raisers of
potatoes and live stock, growers of
alfalfa, etc.
Mr.. johnson said. This is one
way we have to show our faith in this
community. We are a coast company
with headquarters at Los Angeles and
pursuant to the principles which we
call q good business principle, we in
vest the money in loans, where the
security is good, in the regions where
we take it in from insurance.
1--WE loan only on lands under the
ditch. Since last July we have loan
ed s25O,OO0 in the Rogue river coun-
try, Oregon. The Yakima is a larger
and a greater fruit country than tina t,
and we are in position to loan $780,
900 here within the next six months,
or at once, provided we can see our
way to do 50 advantageously. We
have been favoraby impressed by
what we have seen during our trip of
inspection. Personally | had only a
vague idea of the extent of the irri-
cation systems of the Yakima coun-
try. / am pleased to say that | have
been very favorably impressed by
what / have been able to see"
Leslie w. Hayes is resident agent
of the Pacific Mutual Life Insurance
company, and will continue to have
charge of that department. The loan
ing department will be considered d
separate branch of the business. j
ID. Cornett will assist in an advisory
capacity, and a special man may come
to North Yakima to handle it. Fl. II
Ward will spend a considerable por-
ton of his time here looking after the
loan department affairs more partic-
ularly.