William Elsey Connelley

“ Downes' business career in Topeka dates only since 1896, but during this time he has achieved such a success as most men would regard as a triumph if accomplished through a half century of patient effort. Coming here at a time when the keenness of business competition, particularly in the matter of loans and investments, rendered success impossible unless through the exercise of sound judgment, allied to a certain degree of venturesome determination, he has achieved a reputation and acquired wealth through developing one of the country's great institutions. ”

“ At the head of the Aetna Building and Loan Association today, in the office of president, is found John Sayre Downes, a business man of sterling capacity, who during the twenty years of his connection with the company has been appreciative of the value of fair treatment for policy holders and the results occruing therefrom. President Downes is a self-made man, whose own experience should serve as an encouraging example to those starting life in modest circumstances, as well as being illustrative of the desirable results attainable through thrift and wise investment. ”

“ The security upon which Aetna money is invested consists of first mortgages on real estate up to fifty per cent of its value, or of Aetna stock up to ninety per cent of its cash value, and the State Banking Departments of Kansas and Oklahoma maintain the same strict supervision over this association for the safeguarding of the stockholders' interests that is maintained over banks. The Aetna is of the mutual type of building and loan associations, as there are no preferred stockholders, but all members share equally in the results. ”