The Daily Missoulian. [volume] (Missoula, Mont.) 1904-1961, 1913-03-01
BIG LOAN COMPANY
LIKES MONTANA
BUTLER e. SMALL REPRESENT
ST. PAUL CORPORATION NOW
READY FOR WORK.

About a year ago two young men
from Minneapolis came to tMissoula
and established an office, hanging out
their shingle as Butler & Small,
Mortgages and Loans" Members
of this firm We're j. S. Small and
John E. Butler. Their first office was
opened on the ground floor of the
Hammond block but lately they have
moved into more commodious quarters
on the second floor of the same build
ing n it was here that a Muscular
reporter found Mr.. Small yesterday
and questioned him concerning the
firms connection with the new in
Vestment company, the Farm Mort
gage Bond company which was
launched at st. Paul the first OF the
year. In answer to the inquiry Mr..
Small said: Yes, our firm repre-
sents the st. Paul company in Mon
tana. We established ourselves here
about a year ago and until the last
few months have given our attention
to looking owe the field in Montana
and reporting our findings to those
men in st. Paul who were contem-
plating the incorporation of the Farm
Mortgage and Bond company. Natur-
ally this work was quietly carried on
and we have said little about it pub
licly in Missoula. I can say l believe
we have found a splendid field in
Montana and now that the mortgage
company has been launched we will
soon be able to enter this field In a
practical way. For the present my
hartman Mr. p,1t1nr mill rar,o{p IN CT
Paul, he may come to Montana later
this season."
The particulars concerning this new
investment company Of st. Paul and
Its proposed methods Of operation are
set forth in a statement recently
published in 1.-THE Commercial West"
Of Minneapolis. as follows:
"A new investment company, the
Farm Mortgage Bon company, that
promises to play a considerable part
in the Northwestern field, began bus
mess In st. Paul the first of the year.,
occupying handsome quarters in the
Endicott building, opposite the North
western Trust company. 1t starts with
a capital and surplus of 1920, 600 and
will do a general loan business. At
present it is investing in farm mort
cages in the choicer districts Of Min
~nesota, North and South Dakota, and
Montana, and in business real estate
in the more progressive cities of this
territory. 1t will buy and sell NUM-
cipal n other high-grade bonds and
will probably do some underwriting.
but the chief feature of it's bust
ness will be the sale of a s per cent,
20-year bond secured by farm mort
cages, and other income-p producing
real estate securities. The North
western Trust company Is trustee and
under the trust agreement, the Farm
Mortgage Bond company must main
tain against all bonds issued an
equivalent amount of real estate
mortgages, not to exceed SO per cent.
of the value Of The security. These
bonds are issued in denominations of
500, $500 n $1,000. to meet the re-
quirements of small as well as of
large investors.
THE company Is not only develop
ing an extensive agency organization,
but is organizing a corps of special
salaried examiners in the districts in
which the company makes loans.
Walter Butler and William Butler, of
Butler Brothers, a big St. Paul con-
tracing concern. were the prime mov-
ers in the organization Of the COM
pany, and the. board of directors COM
prlses some of the strongest men in
the northwest. The active officers,
besides Walter Butler, treasurer, are:
President, John A. Hartigan, formerly
state insurance commissioner Of Min
n%esota, and then northwestern super
intendent Of the Equitable Life AS
surance society; n the assistant
treasurer, J. B.. Sullivan, who has act
i've charge of the farm loan end Of
the business. Mr.. Sullivan is presi-
dent OF the Commercial State bank
of st. Paul and has all his life been
in the banking and farm mortgage
business.
THE directors are: Louis Betz, treas
urer State Savings bank; H. H. Bigelow,
president of. Brown & Bigelow; Otto
Bremen, treasurer Of Schmidt Brew
ing company; Walter Butler, presi-
dent Of Butler brothers; William But
Ter, treasurer of Butler brothers;
Pierce Butler, of Butler & Mitchell,
attorneys; Jesse A. Gregg, president
OF Nichols, Dean & Gregg; John A.
Hartigan, president of Farm Mortgage
Bond company; Louis w. Hill, chair
man board OF directors of the Great
Northern; William B. Boyce; presi-
dent National Surety company, New
York; f. B. Lynch, president Southern
Colonization company; w. S. McCur-
dy. OF William B. Joyce g. company;
j. B.. Sullivan, president Commercial
State bank, st. Paul; f. S. Warner,
treasurer of McGill-Warner company;
Webster Wheelock, assistant secre-
tary Farm Mortgage Bond company"