The pilot and transcript. [volume] (Baltimore, Md.) 1840-1841, 1840-10-22
BALTIMORE REAL ESTATE SAVINGS
INSTITUTION.

HUE undersigned, Treasurer of the Baltimore Real
4 Esate institution, in accordance with the wishes
o. tns members presents for public consideration th
following hIief stateIaent:
lst This institution was established for the purpose
OF aitondLts convenient change TO the community and
accommodation 10 persons OF small capita-neehalles
and laboTeTs.
3D. Its capital consists OF deposites made bv its e
bers, each of whom il at liberty depose any sum b.
may think proper, not less than DOLLAR per week.
Upon this capital business Is carried on, and each de-
postor ut stated periods, receives, proportion 10 his
nteTe,l far dividend of the joint profits of the isti
tuiion.
%. The institution has constitution for its qoveEu-
.et-under this constitution its officers are elected.
Each deposition is elected member, and at al times
Re members have the privilege of examining the books
and papers of the institution.
4th The capital of this institution was, at the
mencemehi comparatively small--it has considerably
increased, and Yet increasing Added to real estate
which has been vested in u trustee for the benefit of
those Concened the institution becomes daily Interested
III valuable secur ties judgments, mortgages, liens upon
personal property, &c, Sci these naturally tend to give
it power, stability and character.
5th Ii is believed that this insulation merits public
approbation and deserves the especial attention and
support of men of small capital It's funds under the
control OF board of directors literally working ens
and who, from their situation in life and business,
properly appreciate the wants of their class. Tn
der the direction of these directors the funds Of the in
sution loaned out TO deserving persOns chiefly in
dustnous mechanics, upon well secured paper.
9th. The difference between this Institution and the
larger institutions, banks, is that the banks may be
looked the Institutions OF the commercial ctasa
POSSESSED of large capital, while this may regarded
the Institution OF the mechanic and lahoring clnsses
possessed of only very limited The dictnct0a
between banks this Institution may he fairly stated
thus. Here a com parHlively po man may with eOnE
dence look for assistance, while, il the same man were
to apply for dScodHt TO bank he would be refusedS
either because he is not known to, IN favor with
the directors, because the amount he wants is
sm that the bank thinks the transaction beneath itx
notices the consequence is the poor MAN Is driven 10 thG
shaver, and oblige to pay from 20 TO 80 per cent.
This Institution is a remedy for ts evil. Here AM
honest industrious may obtain discount at the Legal
rate ofinterest If the applicant az unknown TO The
directors he will not that tS.1unt he refused, the
board causes the necessary inn to be made 10 asceE
tain if the applicant deserves The assistance of the In
slituOn and If the report be- favorable he receives the
aid Ia asks.
9Th. Envious and designing persons, whose interest iE
is 10 industrious mechanics depending for financial
aid upon brokers' and shavers, have exscd themselves
Tor some time past, mjure this institution in public
estimation. They succeeded so far 10 many
thousand dollars of ITS paper 10 be, within week OF
two past presented for REDEEM ston Every dollar thus
presented has been promptly redeemed; the cOnse-
quence ~ that the Instution instead of falling prey
10 the open or insiiDus attacks OF its avarcious and
Surous foes has stoed its ground, and deseryedly oCcE
pies high place in public esteem.
sth In conclusion, the public and especially The me
chanic and laboring cassts respectfully asked In
give their and support 10 this InstutiOB
IL is prepared, and d. sirOus TO issue and advance
its paper upon good security, and will, upon accOmmo
dalng TERMS discount well secured notes, udgmeHks'
and claims of every character however small in amount
exteaded in point of time.
HENRY BAKER, Treasurer
Baltimore, September %, l94O lw &C 8