The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-03-09
coMMHRc1AL AFFAIRS.


vary materially from those current ~ Inc close on satur
day Some Of the lancica, which have been quiet for
several weeks mast were offered to-day freely At the
frft board Norwich Worcester wen. mp Il per cent;
Long Islard 4; Carton IA; Harlem II Reading Rail
read AZ Erie Railroad, x. The purchases arc prinoi-
p,lly ON time buyers option. The from Europe by
the Arctic commercial point Of view IL impor-
tant Of favorable character. No change had taken
place in the markets for staple exports
counts the whole similar those received by
previous steamer. Money in London ard Paris
abundant and accommodating rapidly in the leading
banking institutions that further reduction 10 the rate
Of interest had been proposed. and probably would De
adopted
The receipts at the Office of the Assistant Treasurer Of
this port to-day amounted s93o0i payments,
$13T56 Gc--balance, S23T3497 Oh.
One of the most extraordinary movements OF the day
is the formation in this city OF numerous companies,
under the name Mutual Loan Associations, Building
Associations &C. &c, for the purpose Of enabling the
poorer classes by small monthly earnings to become their
ownandords These associations in this country
but in England they have been in operation many years
and have been generally prosperous and successful They
destined to take the place great extent Of the old
fahioncd savings banks and they become yoraby
known and better understood attention Of capitalists
will be directed to them. There doubt that these
mrtual loan and building associations properly
managed and their affairs honestly administered, they
viii ultimately become nmensely powerful and produce
tive Shareholders in these companies who may wish
purchase house or lot In the city country obcin
loan Of money from the associations they n.erese
at the legal Of interest the principal Of which wi
ultimately be iqudatedby the monthly payments acer
tain number Of shares Suppose individual subscribed to
ten shares In mutual building association, upon whc
the payments per month amounted twenty dollars u
per share) THE would make total of $40 per annurn
At the end Of three four months this individual wishe
to purchase o house farm, house lots with
i've thousand dollars He obtains loan for that amount
Of the association ut per cent interest," for which he
gives bond and mortgage and continues his monthly
payments his shares The association have the mort
gage and the shares in the security for the
loan. The amount will figure up follows upon the
data that the property purchased s productive real
estate =
Payments ten shares, 81 per month--total per
Interest on lean OF So 900 at per cent per 800
Insurance taxes water rent Sc..,........... rs
Total annual payment .....,. Sol5
This at first sight may appear much greater than the
yearly rent Of house worth IS 600 and it may be diff
cult to show from such statement that any advantage
be derived from such an Investment 1t must how
be in mind that the $40 per annun, with
per cent interest the same compounded monthly,
and all the profits the ten shares Of stock, derived
from the operations Of the company appropriated to
the payment Of the principal (5o00 SO that the share
holder has only to pay the interest the oan and his
regular monthly instaments his shares to obtain pos
session in the Of say eight years property
At the expiration Of about eight years, the association
hand the tage to the shareholder and he be-
comes sole of the property We will even make it
longer time, and put down nine years, which is the
mo 1imum and then how the amount stands -
Payments, $40 per annum on ten sharer for -
nine years amount to. .................. $216O W
Interest 81 leo at six per cent for AZ ysars $50 20
Amount OF loan obtained on mortgage. 5000 90
Profit on investment in nine years go. $2256 30
This lie clear enough, and profitable enough, provided
works proposed-provided the managers are honest
hrewd men, This is matter for those contemplating
subscription to satisfy themselves about Those which
ave been established appear well managed and the ma
pagers are doubtless Of substance and character
This is important point and should be duly conSi-
cred 1t is there many checks upon the move
eents Of each officer and trustee which make 1t almost
impossible for any dishonest peron connected with the
management to illegally appropriate the property Of tn
association great deal depends upon the investment.
made Of the company's funds and upon what Is gene
Ally called luck These associations in few years Will
thout doubt represent millions upon millions Of property
this city and il judciously conducted the moral in
evil be Of most salutary character Any induce
pent TO the classes invest
rnings in some safe depository cannot have otherwise
ban favorable effect and the accumulation Of their
title savings to enable them to purchase little
nement for Themselves makes them better citizens, bet
husbands better fathers II these building associa
have this effect they must receive the aid and
brt Of every good man and any man or body OF men.
ho would misappropriate the funds Of the laborng
asses nrusted to them for such wise purposes should
hunted down in every community, and be brandedasa
on Of the blacklist character 1t possible the build
association business may be overdone; but the evil
n correct itself New companies are forming every
y and they fill up rapidly Those interested should
tend the meetings, and get all the necessary nforma-
bn for their guidance.
The annual report of the Board Of Trade Of Great Br
H. shows that the declared value Of expectations from
United Kingdom for the year ending January 1867
f6S 4s2 $50 against AT in the preceding year.
Ing an increase Of E2757,212 The item of in
ase in cotton manufactures, of which the exports
Ire AL 1O3 being f1573406 greater than the ex-
ts of1s5o In wooden manufacture there is decrease
f216 S66 and in manufactured wool fl65,l73-these
Ing the two principal items Of decrease
stockholders in banking insurance, railroads, and all
her Incorporated companies frequently deceived BY
r declaration Of dividends We have known companies
pay dividend day and burst up the next. Divi-
nds are often made to blind the public and 1t a. often
bye unsuccessful We informed that the late dvi-
nd Of 81 per cent declared by the Reading Railroad
mpsny was the subject Of earnest and violent discus
in the Board Of Directors Two Of the directors ~
are sredbly informed did actually notify the Others
II this dividend made, they would withdraw
n the administration of the affairs Of the company
y bitterly denounced it; bat other influences
urht to bear upon them, and, although they were
se to the dividend it still declared. and they
ed their seats The influence speak Of was brought
~spr theeo rafra dircrto from
where certain large stockholders agreed to wait the
Fenience Of the company to pay the dividend The
rauy are told borrowed money at ths rate Of is
cent per annum' to complete the arrangements for
payments Of such portion Of the dividend az could not
o'N noo.a That no dividend was earned was cur