The Mankato free press., 1923-10-19

BONDS AND Wills
FEATURE OF TALK
Address Before the Coun-
Gil of Women
MET In THELIBRARY
Large Gathering of Ladies and
interesting Session
Was Held

'SS
Stocks, bonds and wills were fea-
tured in an address which was de-
livered by A. G.. Scheidel before the
Council Of Women. the session hav-
ing been held in the auditorium OF
the public library, yesterday after
noon.
Many ladies were present at this
meeting Mrs. Adolph Mueller, the
president presided. The secretary
read the report of the last meeting
and various items OF business were
taken UP.
Mrs. D. G. willard gave a report
OF the various cases taken up by
the council, which were left over
from the last meeting, in the spring.
She stated that a dangerous charac-
ter, who had been running loose in
the community, had been held on an
insanity charge and would probably
be sent to st. Peter. Nothing had
come of the other cases concerning
the burning OF a-cat by some child
q
horses.
Mrs. Willard also read an article
published. in The Free Press con-
cerning some city ordinances. and
about the alleged gambling at the
Mankato fair. She stated that Clty
Attorney G. Z. Gilmore was the first
and only city attorney who had ever
had the city ordinances printed in
book form and placed in the city
hall where they could he easily
read. These articles to which she
referred had all been passed upon
by the city council and mayor and
were the ones which were violated,
so she claimed. The resolutions
written by Mrs. Willard and pub
lished were adopted by the organ
lization and placed on record.
Stocks, Bonds, Wills
Following the business session, an
interesting talk on wills, mortgages,
and bonds were given by a. G.
Scheidel, Of the stocks and bonds
department Of the First National
bank, who took the place OF w. ID.
Willard, who was out OF the city.
During his talk, the ladies were CIV
en- the privilege of asking questions
on any of the subjects mentioned.
The ladies were glad to have this
opportunity and asked the speaker
many questions. Mr.. Scheidel gave
such an interesting talk, the ladies
decided to have him talk on the
same subject later on in the sea-
son.
In his talk Mr.. Scheidel said:
"The history of wills dates back
to the origin OF the right OF the pri-
vate property and it has since been
held that an owner of property may
dispose of it by will which becomes
effective after the death of the
maker. Under the Common Law,
married women could not dispose OF
property by will. The great revolu-
tion in the legal system In recent
years has now made 1t possible Tor
married woman to dispose or her
separate property by will with the
consent OF her husband in few
states, but In most states withou
the husbands assent. The present
day tendency is to confer indepen-
dent power upon married woman
and to place spouses OF either sex
upon the same equal plane of hold
ing and disposing capacity.
"Many things must be anticipated
in making a will. The value and
character Of property may change
materially, both before and after
the makers death. The family re-
quirements may change because OF
death, marriage etc, 1t is, there
fore. wise to consult men of expert
ence in order to anticipate as far as
possible the changes that may
come.
"An attorney should be entrusted
to draw up provisions Of the will to
prevent misinterpretation and pos
sibly costly litigation. The appoint.
ment ola proper executor is most
important. Wives, children, relatives
are often unqualified, because Of the
business capacity required to secure
the real value in disposing OF pro-
perty. Trust companies are espcci-
ally fitted to act as executors be-
cause OF their financial responsibility
and efficiency.
Mortgages are Of three kinds
chattel. A mortgage is the simplest
kind of secured investment. The
rates OF return on mortgages, like
that of bonds, is determined by the
piece of money in the large money
centers. -
"The federal legislation which
established the Federal Land banks
and Joint Stock Land banks, re-
suited in lower rates on mortgages
generally because OF the exemption
( from taxation of bonds issued by
these banks which are secured by
farm MORTGAGES. Some states have
passed laws along the same lines.
Bonds are obligations Of states
not at the same rate as the county
becomes more substantial, more
savings result and larger estates
are accumulated. Business becomes
more competitive and less profits
result, hence people chose to invest
rather than embank in business for