The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1920-10-16

organization work, reports the first of
the ten boards organized last week at
I Salnay where &c real estate men gath
cred at a banquet at the Lamer of
| which go signed preliminary organiza-
ton agreements. Seger says it was a
Healy of the Kansas City board ex-
pounded the privileges and duties of
membership.
Forces swaying stocks and bonds
| during the last week have been the
fiuctuation in industrial stocks ac-
cording to j. L. Hersh, assistant Sec
rotary of the Capitol Building & Loan
association. Very few stocks on the
| market have shown an increase where
| there are a great many stocks that
| have shown a loss in quotations This
| necessarily means that the public will
stop buying stocks and will go to buy
| ing more stable securities such as
| building and loan shares, he believes
In report written this week to
Secretary G: L. Tuer. of the real estate
poard, HerSh says:
Municipal bonds are quite stable
and fluctuations are very light. The
government bonds have been flllctuat-
| ing more or less on account of the in
terest rates but with the industrial
stocks coming down government bonds
will begin to increase in a cashable
value.
Banks seem to be loaning their
money at per cent and above. A
statement was made by one banker
that he would rather have the money
on note which had been carried for
a period of time at 6 per cent inter-
| est than he would to have the note and
renew it at per cent. as he could
| get at least 8 per cent for this money
THE average on construction ma
| terials is beginning to show decline
| instead of an increase as has hereto
fore been the case. Food costs are
| still downward and heretofore the
benefits of the reduction, but of late
| the public is beginning to reap a small
proportion of the reduction.
The Topeka housing proposition is
| about the same as it has been all fall.
There is a great demand for apart
mcnts to rent. There is a steady de-
mand for the purchase of prop
erty and there seems to be plenty
of stuff to sell. However. a
great deal of the property that is on
the market now is old and in more or
less dilapidated shape. However. this
is not true of all property. 1t is quite
generally conceded that real estate is
going to be as high in the spring as it
is now, if not higher. Rents are in
creasing rapidly now, even single
rooms renting as high as $40 each
with only family bath accommoda-
tons, and they WILL no doubt, increase
more as the winter comes on and the
demand becomes stronger. Topeka is
| in need of a hotel and a large apart
ment house, but it would seem abso
| lutely foolish for an organization to
| build cottages and homes for rent as
they would not be able to get interest
sufficient to pay them at the present
cost
"The Capitol Building & Loan asso-
citation has made eighteen loans
amounting to $2S,780 and have on
hand applications for a good number
| of loans, more than they will be able
| to make unless they can interest in
vestors to deposit their money and re-
ceive 6 per cent interest which they
are offering. The difference between
a Building & Loan association and
other investment stocks is the fact that
the individual does not have to get
out and find a purchaser for the GER
tificate, but can turn them into the
association, which buys them on de-
mand by the owner, they receiving
, money and interest up to the last in
terest paying date.
Thousands of Topeka citizens are
taking advantage of the Investment
features of Building & Loan associa-
tons and have learned the value ana
they will acknowledge that it surpasses
other investments considering the &C
eommodations, service and prompt
ness of payment. Building & Loan
associations loan their money exclu-
sive1y on first mortgages on real estate
on the monthly payment plan, Thus,
the security gets better with each
month that elapses and with each pay
ment that is made upon the loan.
Topeka has five Building & Loan
associations and is the center of the
Building & Loan business in the state
of Kansas. We know this from the
fact that we have the strongest organ1-