The pilot and transcript. [volume] (Baltimore, Md.) 1840-1841, 1840-10-24
REAL ESTATE SAVINGS
INGTITITION,

THHHE unders igned Treasurer Of the Baltimore Real
n Estate Institution, in accordance wan the wishes
of the members, presents for public cUnsd ration the
! following bIief statement:
| LIST. This institution was established for the purpose
of aorjiug convenient change to the community and
accommodation to persons of small capital-inechanics
and laborers.
3D. It's capital consists of depositrs made by its mem
bers, EACH of whom is at liberty to depose any sum he
may think proper not less than ONE DOLLAR per week
Upon this capital business l. carried on, and each de
postor at stated periods receives, in proportion TO his
interest, fair dividend of the Joint profits of the insti
tuition.
81. The institution has constitution for its govern
under this constitution its officers elected.
Each deposition is elected member and AT all times
the members have the privilege of examining the books
! and papers of the institution.
4th The capital of this institution was, al the
mencement, comparatively small-it has considerably
increased and is yet increasing. Added to real estate
which has been vested i'll trustee for the benefit OF
those concened the institution becomes daily interested
in valuable ties, judgments mortgages, liens upon
personal property, &C., Sc these naturally tend TO give
! it power, stability and character.
5th II is believed that this institution merits public
APPRECIATION, and deserves the especial attention and
support of men Of small capital Its funds under the
control of board of directors literally working men,
and who, from their situation iii life and business, can
properly appreciate the wants Of their own class. I'm
der the direction Of these directors, the funds of the in
sItinn are loaned out TO deserving persons chiefly III
dustnous mechanics, upon well secured paper
6h rhe difference between this Institution and the
larger institutions, or banks, is, that the banks may he
looked upt as the institutions of tile commercial class
p1ssessed of large capital while this may be regarded
the Institution of the mechanic and laborng classes
possessed of only limited means. The dclincion
between banks ard this institution may be fairly stated
thus. Here a comparatively poor man may with conn
dence look for assistance, while, II the same man were
to apply for discount 10 bank he would he rofpsed
either because he is not known TO, cf in favor with
the directors, because the amount he wants is
small, that the bank thinks the transactEn beneath its
notice.; the consequence is the poor man driven 10 tie
shaver, and obliged to pay from 20 TO 30 per cent.
This Institution is remedy for tits evil. Here an
honest industrious may obtain d'C0unt AT the legal
Of interest. If the applicant unknown to The
directors. he will not that ;ts1iunt be refused the
board the necessary inn 10y 10 be made 10 ascer
tain if the applicant deserves ;he ASST stance o.! the In
slituon and ii the report c favorable, he receives the
aid he asks.
It'll Envious and designing persons, whose interest il
is TO see industrious mechanics depending for financial
aid upon brokers and savers have eXerted themselves
for time past, to inure this institution in public
estimation. They succeeded so far 20 many
thousand dollars of ITS paper TO be, within week
two past presented for REDEEM fton Every dollar thus
presented has been promptly rcdcemed; the conse
quence is, that the Institution, instead of falling prey
TO tllc open insidus attacks Of its avariciOus and
usuous ucs has stoed its ground and deservedly occu
pies high place in public esteem.
9Th. In conclusion, the public and especially The
chanic and aboring cassts respectfully asked 10
give their cOuntenance and support TO this institution
II is now prepared and srous issue and advance
its paper upon good security, and will, upon accOmmO-
dating terms, discount We'll secured notes, judgments
and claims of every character howeyer small in amount
or extended in point of tune.
HENRY BAKER, Treasurer
Baltimore September %, 1910. Iw oc 6