The pilot and transcript. [volume] (Baltimore, Md.) 1840-1841, 1840-10-23
BALTIMORE REAL ESTATE SAVINGS
INSTITUTION. X

FHNBE undersigned, Treasurer Of the Baltimore Rea
h Estate institution IN accordance win the "lsEe'
of the members, presents for public consideration the
| following biief statement
Is THIS institution was established for Ihe purpose
OF aifOrdg convenient change To the community and
accommodation TO PERSONS Of small cap2lmeciianics
and labOrGrs.
3D. Its capital consists OF dcposrs made ny its mem
beers, each OF whom is at liberty 10 drposiIe any sum he
may think proper not less than DOLLAR per week.
Upon this capital business IL carried on an each de
pO-itOr, at stated periods, receives. IN proportion lis
ntere l. far dividend oi The joint Pr1Gjs OF the nsii
tuition, r.. n4..'a".
3D. The institution has constitution for its govern
iAet-under this constitution its officers are elected.
Each deposition is an elected member, and al all times
the nc"hers have The privilege Of examining the books
and papers of the institution.
4th The capital of tins institution was, at the com
mencement, comparatively smali--t has considerably
ncreased and is yet increasing. Added TO real estate
which has been vested in trustee for the benefit OF
those concerned, the institution becomes Gaily interested
in valuable secur ties judgments, mortgages liens upon
personal properly &c, Sc; these naturally tend TO give
1t power, stability and character.
5th II is believed that this institution merits pubc
Appreciation, and deserves the especial attention aud
support of men of small capital It's funds under the
cohtfol of board of directors, literally working men,
and who, from their situation in it d business, can
properly appreciate the wants Of their own class I'm!
der the direction Of these directors the funds Of the in
sutlnn loaned out 10 deserving persons, chiefly IN
dustnous mechanics, upon well secured paper.
6h. The difference between this Institution and the
larger institutions. 0T hanks, Is, that tie banks tie
looked up the institutions of the commercial class
possessed of large capital, while tiis may be regarded
the Institution of the mechanic and ah0rng Glasses,
p0sssssed OF only very limited means. The dctiRciion
hetween banks ard this institution may be fairly stated
thus. Here comparatively poor nan may with conf
dence look for assistance, while, If the were
apply for discount To- bank he would he refused;
either because he not known To, in favor with
the directors, becau the amount he is 50
small, that the bank thinks the tTansactisn beneath It's
notice; the consequence is, the poor driven the
~
This Institution is remedy for tins evil. Here an
honest industrious man may obtain VI count az the lega
Of interest. IL the applicant unknown to the
directors. he will not that he refused, hit
board causes the necessary ng ifl 20 he made ascer
IT the applicant deserves the ASST OF the In
stuuon and If the report tn lavOrablc he rec iYes th
aid II asks " .t. o.. - .'3
It'll. Envous and designing persons, whose interest il
is industrious mechanics depending for financial
aid upon brokers and shaverS have eKertcd themselves
for time past ure this institution in public
estimation. They succeeded far rs to cause many
thousand dollars of ITS paper to be, wta week or
past presented for redemption Every dollar thus
presented has been promptly rCdcemeG; the c0nse-
quence is, that the insttltion instead of falling prey
to tie open insIdHls attacks Of its avariciOus ana
usurous foes has soed IFS ground and deservcdiy oecu
pies high place in public esteem.
9Th In conclusion. the public and especially The me.
eauc and laboring cassts respectfully asked TO
give their c0nntenanee and support 10 this institution
IL is now prepared, and srous TO issue and advance
its paper upon good security, and will, upon aceOmmo
and claims of every character ,howeyer small in amount
eXteaded in point of time.
Baltimore, September %, 1910. lw Oc 6