University of Kansas Publications Volume 2, Nos. 1-4; Humanistic Studies
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University of Kansas Publications Volume 2, Nos. 1-4; Humanistic Studies

University of Kansas Publications Volume 2, Nos. 1-4; Humanistic Studies


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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1916 Excerpt: ...because they were unable to dispose of them or because they were confident of a return of prosperity, recovered their losses with the subsequent rise in property values. The few companies that survived this collapse of real estate and farm values are now the strongest and most prosperous institutions of their kind. One of those is the Pearsons-Taft Land Credit Company of Chicago, established in 1865. It is by far the oldest and largest concern in the United States engaged exclusively in the business of making farm loans. It now has outstanding loans to the amount of $16,000,000 secured by farm mortgages in eighteen states. About three-fourths of these loans are held by its clients in the form of individual mortgages. The balance is held by the company or deposited with the Illinois Trust and Savings Bank under a carefully prepared deed of trust as security for debenture bonds. On April 12, 1916, the official statement of the company showed that bonds to the amount of $3,843,262 were outstanding. The rate of interest which the debentures bear has varied from 4 to 5.3 per cent according to market conditions. They are issued for terms of twenty years and are secured not only by a like amount of farm mortgages but also by a capital stock and surplus of $220,000. Since 1900 the company has been making long-term loans repayable by amortization, but thus far the number of such loans has been small in comparison with the total volume of business." Evidences of renewed confidence in land-mortgage bonds are not lacking. An example of a farm mortgage institution, more recently formed, which has been successful in issuing debenture bonds is afforded by the Woodruff Trust Company of Joliet. This company, organized under the general trust company laws of Illinois, h...


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Product Details
  • ISBN-13: 9781150671692
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 138
  • Spine Width: 8 mm
  • Width: 189 mm
  • ISBN-10: 1150671696
  • Publisher Date: 01 May 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 259 gr


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University of Kansas Publications Volume 2, Nos. 1-4; Humanistic Studies
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