Sunbury American. [volume] (Sunbury, Pa.) 1848-1879, 1867-11-16
For the Sunbury American
Iu-y D9!!3irr and Loan Associl.

FOR The sudbury American.
The Sun5u-y Building and Loan AssociG-
tioA.
LnIr2Es fUyBvrv hNGHiCAH- Gentleman A
fcw Cacts ana figures, relating 10 the Building and
Loan Association, may be interesting to your nume.
rsug -cll:rs Below you will find a statement of
tha manner in which he funds are created
Fi5si the Association sells 2CO0 shares, nt dol.
lar each per month. That gives the Association
capital to start on Of S2OU0 which, at $50 prcmi.
um sells Il Fhurcs, and leaves a balance in hand. of
Treasurer Of so. The funds on hand at the second
monthly meeting WI bo S2,054, which amount is
raised in this uanner:
Amount paid on shares, 81 900 90
Of interest PAID on Il shares
sold, Il 90
Anuunt on hand from previous month 40 20
S2Oj! 0J
fourteen shares sold GU second night,
in tho same manner as at first ] VG0 90
Leaving balance on hand to be car
ried e "a month, s9i 90
Receipts from shares, Sd month, 1905 90
Interest on % shares sold 2S 90
Amount, "a hand to sell, 81 month, S2!22 uO
llst, 10 saarr., 2,I00 90
Leaving balance in hands Of TTeasr, % 90
IL the same manner, each month, the funds
paid into the hands Ut the Association, ano sold out
10 the members until, at the end Of the first year
the Association has sold lis shares, and the shares
remaining unredeeEed have reached cash value
Of II dollars and 50 cents for twelve dollars paid
At the end OF the second year 3T2 shares have been
sold, and tic shares remaining unredeemed have
reached cash value OF 81 dollars and twenty one
huudredIhs for S2i paid At the end Of the fourth
year 5I1 shares have been sod, and the shares re-
naming unredI Tened have reached a cash value Of
81 dollars and seventy ono-huudrcdths for SiS paid
AT tho end Of tho sixth year the Association will
have sold 1915 shares and mo cash value of shares
uGredeemed will bs ~ dollars and fifty one hun
dredths for $72 paid, A tho end of the seventh
gear l644 shares will have been sold and the cash
value of unredeened shares viii have increased to
| l64 dollars and forty One-hupdTedths for So4 paid
At this time iend Of the seventh year, the monthly
income Of the Association has increased to 50 15,
With 1866 shares remaining in hands of members, un'
redeemed. These shares can be redeemed, at their
par value of $780, in nineteen months, making the
total time for Association 70 run eight years and
/ seven months.
/ Now some object to paying the premium, think.
Ing it too high. We will see what figures say about
that Two men want TO borrow money for the pur'
pose Of building. One goes to Association the
other wherever be can borrow. The one that zoe;
to the Association buys out one share at 500 preni
um, which leaves him Sl4O. lie pays 81 to the As
sociation per month for his share, and 81 per month
interest on $500, which makes S24 per year. In
years and months he pays S2Jb into the Associa
tion. The other man pays per cent interest 10
S years and months on $40, which amounts L
S72 TO- which added to the principal, makes tota
OF S2l2.l0 So that although you pay the Associa
tion 500 premium, you have your money Tor les
than per cent, and these figures are Tor the ial
term the Association will run, the money, oil course
will cost less the older the Association grows.
Messrs Editors, these Associations are not expert
ments they are established facts. Several OF then
are ut work in different parts Of our State, au
wherever organized have done we'll. They enable
man with small means to build for himself a HON
which he could no, do in any other manner. b
having into the Association monthly sum OF abou
in eight years, own his own house But am tres
psssipg too much on your valuable space
The Association will meet 10 few days. tof whie
duo notice will be given.) and then all who wish
become msmbsfs will have an opportunity Of dole
40 By osDEs OF TIE COMMITTEE
on ORaLsIEArIOs