The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1915-05-21
AUTHORITIES PASS ON
EMPIRE HOME
METHODS
FINANCIAL AUTHORITIES RE-
SPOND WITH OPINIONS ON
THE EMPIRE HOME CO.
NONE ENDORSE 1T
Nebraska Company Which Was Put
Out of Business Has Marks of the
Boise Concern-Nebraska Company
Was Lottery Within Meaning of
the Law-Savings Banks Fleece

the Law-Savings Banks Fleece.
The Tribune promised its readers
/ that It would ascertain the Judgment
| OF authorities on matters Of finance
| on the methods, and their soundness
| and practicability, of the Empire
Home Company, located at Boise, and
recently incorporated under the laws
OF Idaho. We are happy to state
that wealth of data is arriving and
during the next few weeks our read
ers will learn all about the Empire
Home Company's methods, purposes
and plans, We have received letters
from the financial editors Of three
New York journals of finance promis-
ing us verdict on the methods of
this company
We asked the Empire Home Com
pany to send us few copies of their
pamphlet entitled, The Empire
Method of Meeting a Modern Need"
to submit to such authorities. We are
panied to state that the Empire Home
Company failed to comply with our
request or even answer our letter.
! However, it was no hard matter to
get the pamphlets, and they were
| forwarded with the results above
stated
The pamphlet, The Empire Method
of Meeting Modern Need" contains
this statement:
Primarily, our bond offers an in
Vcstment that for conservatism and
safety cannot be equaled This par
ticular feature of our bond appeals as
| strongly to the eastern investor as
= per cent money does to our western
| bond holders, as it pays a bonus of
| $4,000 on an investment OF $1,000
per month for one hundred months"
| The one and only thing about the
bond of this company that appeals to
the western man is the prospect of 4
per cent money. We are in receipt of
a letter from Mr.. F. Howard Hooke,
editor of The Financial Age of New
York in which he says:
1T is manifestly misleading to
state that the proceeds from bond
sales in the east, will be loaned to
western bondholders at 4 per cent
for If this were true the bonds either
must be sold on a basis where the in
weston would receive less than per
cent or IT bearing a high interest
would be defaulted
| How easy it is to place bonds of
this character here in the east NAV be
guessed at when you know that the
great city of New York recently float
ed some two and three year bonds on
a six per cent basis.
The Editor of the Financial Age
does not wish to throw cold water on
any plan by which western farmers
can borrow money at 4 per cent per
annum, but you can rest assured that
these loans at this rate will not be
because of the sale of Western Real
Estate Bonds in the East"
The letter is very interesting and
will be shown to any one interested
We have asked Mr.. Hooke to permit
us to publish it in full and will prob
ably do so at later date if necessary.
Founded Upon A Rock.
temporarily and while we are wait
ing for the authorities to speak let
us consider the history of another
company which seems to have some of
the characteristics of the Empire
Home Company. The pamphlet of
the company, referred to above, in
speaking of farm loan methods in
Europe and which are undoubtedly
success there, says:
These institutions institutions
similar in purpose and method to the
Empire Home Company are built
upon foundation of mutually and
(,
may want money to build a home.
others may want to pay off mort
gage. and good many are seeking
a conservative investment. With this
end IN view, the management brings
! together the investors of all classes,
with the prime object of creating
cheap money to buy or build homes,
to pay off mortgages, and free from
debt those who have co-operated. Mil
lions of people are today owning their
own homes and farms, who, but for
these splendid organizations, would
still be in the throes of the Money
| Lender"
The Empire Home Company is a
Mutual Institution founded upon the
same rock of sound financial principles
upon which were established the great
organization of our European
cousins"
The statement is made that
this company is founded upon the
same grounds as the European sys-
TENS. This is manifestly false and
misleading for the simple reason that
no legislation has been enacted in this
country which provides for such
system of finance 1t is inconceivable
that private capital here can do that
which required government sanction,
help and regulation in Europe.
We cannot and do not claim it to
be true but we are under the impress
sion that this company is founded up
on the financial rock which other
companies in this country were
founded. The ways and methods of
the Empire Home Company smack
strongly of the ways and methods of
the Nebraska Home Company. Here
we ask you to mark the name: NE
braska Home Company" Let us see
what happened to the Nebraska Home