THE CHARLOTTE JNEWS, CHARLOTTE, N. C, FRIDAY AFTERNOON, DECEMBER 9, 1921.
17
y
:o.
; be-
9
i 694
ited
J to
Mortgages on
f REAL ESTATE
L0 urancc Companies
iTr.rnv.vz to Land for In-
X
vestment of Holdings.
1 (. 9. Ileal estate
;,,,ns Imvo far outdistanced
, ::rirics. a the loading' invest
;,v lii'o insurance companies,'
original statistic!? subniit
,:,:!: annual convention of the
- LitV Insurance Presi-
U'ii;i
. ,,n - A IVcado of Life In
:, fj-inunis." Asa S. Wing.
tin- I'rovidfnt Tafe and
N.,,niy of Philadelphia, stated
ostate mortgage loans of
. vanios haw doubled in ten
,,''mins from Sl.L'-S.OOO.OOO at
;oh to $2,463,000,000 on Oe-,-
iijis year.
....: in railroad securities
;Vimk. 000 at the end of 1911 as
7 ; onO. 000 at the end of 1920.
i.n rtuage loans form more
. rrV.l Of t
"i)v. while railroad seen
. . i : , r i i i I more ban ::.rce 10
, drooped to 2t?rc. Policy
; , mi iMtii rank third and
mveruiuent bonds of
.i . rr a close fourth, being
of the assets. Others in
, , ' ulo state, county and
-..;.is and real estate. The
. , : the companies are, in
estate mortgage loans, President Wing
said much of it had gone to the farmers,
out that there is now a discernible trend
toward the city again to meet housing
requirements. On this point he said:
"In order that this convention might
have the latest data as to the trend of
life insurance investments in mortgage
loans, 47 companies holding more than
93 per cent of the assets of American
companies have iust made renorts show
ing the total amount of their farm and
city mortgages as of October 31. 1921.
the last few years. Please note, during
1918 and 1919, that 91.03 per cent of all
the net increase in loans was on farm
property and S.97 per cent on city prop
erty. In 1920, the proportion of money
invested in farm loans dropped to 63.78
per cent, while the city loans increased
to 86.22 per cent.
CHANGE IN PROPORTION
"During the first ten months of 1921.
the. same tendency has continued and
the. proportion of farm loans has drop
"I find that $261,900,000 has been ad-!ped to 61-59 Per ccnt- while tnat on city
ded in the ten months fi-om December
oi, 1320-, to October 31, 1921, making a
total of $2,468,600,000 real estate mort
gage loans on October 31 of this year.
Of this total. $1,247,300,000 is on farm
property and $1,221,300,000 on city prop
erty. Therefore, for the first time in
many years, if not for the first tims in
the history of the country, the total
amount of farm loans held by life in
surance companies now exceeds the
loans on city property, the proportion
being 50.53 per cent loans on farms
as against 49.47 per cent on city prop
erty. "Of the increase of $261,900,000 in
mortgage loans durine the first ten
months of this year. $161,300,000 is in
property has increased to 38.41 per cent.
With justifiable pride, speaking at an
insurance gathering, I can point to the
investment of life insnrance funds
where the greatest need of the nation
i has called. During the last six years it
was vital for this nation, for itself and
the part it was playing, that our agri
culture should be stimulated to highest
productivity. That the companies met ; l
tins condition is snown in me percent
age of agricultural loans. There is at
the moment another imperative demand
of construction catching up with de
ferred building in our cities. The nation
al tendency of insurance company in
vestments to meet imperative, justifi-
jable demands is made equally clear in
i 1 " : '
h "tS?
I farm mortgages and $100,600,000 in city',fh? now perceptible trend toward city i
c total assets of mortsasros. Thr. Uinm-i
I - " ' 1 V ill : 1 1 J 1 L
gages is greater in abount than the in
crease in the city mortgages during
these ten montrs. as was the case in
1920, but there is still the same tendency
that I previously pointed out, namely,
to increase the proportion of loans on
city property as compared with farms.
"This trend of investments toward
the city has been strongly manifested
since iyiy and can be shown most clear
lly by the proportion of new monev en.
l:- increase in reading into each class of mortgages during
se-
!
msM9
A 1
me
THAT'S the order given to our buy-ers-to
"go the limit" in getting
style, in demanding quality, in buying
variety. Mr. A skin believes that
nothing short of the best is good enough
for customers of his stores.
THAT'S the order given to managers
to "go the limit" in attention to fitting,
in showing courtesy, in adjusting com
plaints, in granting charge account
privileges.
AND THAT'S the policy that is in
creasing our list of satisfied customers
by the thousands. Everybody in our
organization must "go the limit" in
making good. It's our orders.
YOU TOO are cordially invited to
open a
CHARGE
COUNT
v3 V y
frit
jmmm
I
SI
SI 'If
a
M
Women s Dept.
COATS Up to the minut in
style and quality and
PRICED AS LOW AS
$22.00
SUITS Beautiful suits in
every popular fabric and color.
0OHW TO
$22.00
DRESSES A lovely display
of the softest, prettiest ma
terials and shades.
DOWN TO
$17.98
M
en's Dept.
OVERCOAT All we can
say here is that our stock in
cludes everything that is right
end
AT PRICES AS LOW AS
$37.50
SUITS Superbly tailored
suits of ail wool fabrics and
el) the seasons colors.
DOWN AS lO IV AS
$25.00
o p
42 EAST TRADE ST
11
1
loans again
Another striking effect of the recent i
world war on life insurance investments j
is shown in their holdings of United i
Slates bonds. On this point Mr. Wing
said:
'"At the end of 1911, before these bonds
were listed as a separate item, the life
insurance compauies held about $620,
000 of them as compared with seven
hundred and seventy-two millions at the
i end of 1920. The appearance of United
States bonds as a separate life insurance
investment item occurs in the tables be-!
ginning with the year 1317, when the
amount had increased to nearly $G3,
000,000 a little more than one per cent
of all the assets. Three years later, with
th amount increased to seven hundred
and seventy two millions, the percent
age i, 11.30 per cent of the total assets
imd 26 per cent of all the companies'
.current investments during" the nine
iyear period."
i
i
AGREEMENT PRAISED,
VALERA CRITICISED
! Dublin, Dec. 9. (By the Associated
1 Press) Commenting on the statement
of Ea nonn do Valera opposing the
Irish agreement, the Irish Independent
today fays:
I "In connection with this tlevelop
I mentt line outstanding fact is that on
, September 14. last, the Dail Eireann
! appointed five plenipotentiaries to rep
! resent Ireland at a conference with
j representatives of the Bi-itish Govern
ment to discuss the Anglo-Irish prob-
lem . and, if posisblc, arrive at. a set-1
j tkin?nt. AVilh skill and ability these J
I plenipotentiaries discharged the oner-
ous mission entrusted to them. After
I long weeks of arduous labor, and per
j sistent effort, they secured terms and
a .settlement wnien we. nave no doubt
were the best that in existing: condi
tions cou!d have been extracted.
".As plenipotentiaries they represent
ed the Dail Ei rearm and the Irish na
tion, and in the exercise of their pow-
i ct th"- signed a treaty of peace.
"We submit that in the circum
stances the nation is in honor boiyid
to uphold their action. If the pos;
tion were reversed and if the head of
the British Government, together with
members of the British Cabinet, sought,
to repudiate the treaty, the . Irish peo
ple would unhesitatingly condemn
their attitude."
The Irish Times says:
"The country will read witli deep
dismay the statement iUr. de Valera
issued last night .Tfter a prolonged
meeting of the Dail Eireanvi. The loy.
alis!. minority is Toady tu put its faith
in the. good will ci: which Arthur Grif
fith has assured it. Now de Valera
steps in between Ireland and her
hopes."
US
HARDING ENTERTAINS
GOVERNORS OF STATES
Washington, Dec. 9. Governors of
States who attended the annual confer
ence of state executives this week at
Chaiieston, S. C. were entertained last
night at a dinner given at the White
House by President and Mrs. Harding.
Covers were laid for 50, and a number
of other guests besides Governors and
their wives were on the invitation list,
among them being the Vice President
and Mrs. Coolidge, Sir Charles Fita-
patrick, lieutenant governor of Quebec
and Lady Fitzpatrick; Senator and Mrs.
Arthur Capper, Senator Bert M. Fern
sld: Senator and Mrs. Frank B. Willis.
Governor E. Mont Reily, of Porto Rico,
Mrs. Hary G. New, Mrs. Stephen B.
Elkins, Mrs. William Allen White and
Mrs. Miles C. Riley. An after dinner
entertainment of recitations also was
arranged.
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MEN We want to show our appreciation to you for your liberal patron
age during the past year. You have given us your liberal patronage
and we have given you the most value for every dollar you spent here.
But now is the time where we want to do something a little extra
give you something really worth whileand so we have decided to give
a pair of
(Or a Fancy Vest, to those who prefer that)
To Every Man Who, During the Next Week Orders a
Custom Tailored Sui
vercoa!
lecial at
9
And that's not all! In order to make new friends and customers we are going to
offer some very special values in every price group. Of course, those who buy here
KNOW that we ALWAYS give the BEST values in America so when We say VERY
SPECIAL you can imagine what's in store for you.
We have just succeeded in buying several thousand yards of the finest woolens? ob
tainable at a tremendous price concession and these will be included in this big sale. .
Every Suit or Overcoat tailored to your own measure in the very latest styles
and absolutely guaranteed perfect fitting..
Order Now and Get a Pair of Trousers Free
24 West Trade St.
J. K. NEELY, Mgr.
omen
Your credit is good at this store, just come in and select the clothing you want
and you don't have to pay a cent until January 7, 1922. This is a very liberal
offer and you should come in tomorrow and take advantage of it.
Our merchandise is new and of the very latest style and you can be dressed
up for the holidays without paying a thing until after Christmas. Whether it is a
Man's Suit, Hat, Overcoat, Shoes or anything else that a man wears, we have -it.
Women's Ready-to-Wear is is here in great abundance, Coat Suits, Dresses Mil
linery, Coats, Shoes, Blouses, etc., and you don't need any money just. come in and
select what you want, and pay us later.
YOU DON'T NEED ANY MONEY WHEN YOU COME HERE JUST
LEAVE YOUR POCKETBOOK AT HOME
Buy Your Christmas Gifts
Here
NOTHING WILL BE APPRECIATED
MORE THAN CLOTHING
FOR MEN
Suits
Hats
Overcoats
Shoes
Neckwear
Shirts
filoves
Handkerchiefs
FOR BOYS
FOR WOMEN
Suits
Caps
Hats
Gloves
Shoes
Sweaters
Overcoats
Shirt3-
Dresses
Coats
Suits
Blouses
Hats
Hosiery
Skirts
Shoes
No Money
Down
YOU WON'T HAVE
TO PAY A CENT
UNTIL JANUARY
7th, 1922
PAY AFTER
CHRISTMAS
ON GOODS
BOUGHT NOW
MASTE
AGEE
206 NORTH TRYON
S3