The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1867-01-16
Building Association.

building Associations, tHcy afe lut Tie uei-
eft of the poor people Of the community,
the honest hard working tradesman, who
is enabled By means Of the Association to
provide for himself and family the com
forts of Home, to make gradual pay
ments. and at the expiration Of a few years
to receive from the Association a clear
deed to the property.
They are institutions to be found in
every .ity, Town aud Village Of France
and iln,imd. inote ptrtlcaiariy in the
rural districts OF France, where the Peas
antry ali have homes and are Indebted to
their Building Associations tor the same.
they were first introduced into this coun-
Try about ] Sol.
Many will ask how poor man is to Sc
cure a home who is apparently without
friends and earns but stated sum daily
and could Gully be expected to save few
hundred dollars each year.
An Association is formed, the officers to
consist q: President, Vice President, Treas
urer and Secretary. with Il Board OF Di-
rectors OF at least niue men, the choice OF
.he Stock holders. Each Stakeholder shall
| sign an instrument ia writing ob.igatlng
ainlsclf punctl1tlly to pay his 'lonthly
,iles. to con fo..ia with all tie rules ot the
| Association Let the nnnber Of shares b..
limited, say 600 or 1000, any man eau
.slke us many shares as he can manage,
-ay from l 10 20 OF even 40, OF course the
more shares Of stock he has the more
money he can get. He goes into the Asso-
cation and pays once month one dollar
.or every share Of stock he holds, every
share pad inthe hsst night will leave in
1 the hands of the Treasurer 900 or a 1000
| dollars to be loaned to Stockholders. Au
| ,iticle in the Constitution Says that each
md every Stakeholder. tor each and every
share OF stock they may hold shall be en-
.ltled 70 purchase an advance Of not ex-
.eeling @ilO per share from the funds o.
the Association sad funds to be disposed
II to the highest bidder; for instance
shel. hs been paid into the Association
N amount. | 2 or three thousand dollars
| { is the holder OF 2, 5 ID or Is shares
ii stack. Is. ana T. arc. holders OF the ike
| aaanber Of shares. each wishes to buy d
certain advance upon his shares, the amount
fof disposal is pat up a-.d sold to the high
est BIDDER. and may be s;,'d at premium
| of 10 20. 30 Of 50 per cent. \. bus
.pul, his o shares SIiDD h. pays a pre-
| nlum OF q per cent md gets S9D0 cash
1 ne BAYS house has il insured and !,y
l,aa.l aud deed Of trnst with paicy Of IN
! sualnac upon the same il becomes security
&c sllen insteid d Paying 10 hinntsfo'
/ / "a each Snare. pas - Oh c lc;l slsgr3
~ SOCK OF ~ on ne ~ SHARES ',ac.l
.s,,lh ,s.,tii Tie iss;,clatol ,.il,ds ;lj
apich Is .ens-aliy II alb ut 7 or s years.
.ayyns .,ccsrl.Is 10 the price pad foi
money and tbs number OF shares OF stock
b j has al amount o. money S b r
r.sa.i Us. !. ;lule. monthly ptsms ;,ts az
i..,iu ;,id IL the ea OF :. ceit4lii period. tin
saolnsat.y IS yolss: you :as've pad afll,'ints
;sel exceeding the tlioushly rent OF you.
.ossse BAT lasts.;d pi having the principe
a'- ? y ~ tie expiration o: the tine. you
-et he deed to The property and have ie't
,.oi,.eanvelicnes u sl,.kirg the monthly
/ .,ts llenss ;siell are tn bs'ifaftsof Build
4g Associations.
/ s,rAuxgos. Ns.,. Jtn. a. CO.
| l5s.ssrs Ec4if4ts :--ah pes'usta,s your ex
es.iient paper. last week NY yes ea up''u
..:, .rsic.e "siiien by i-riiia. relative IA
Norkinsstle;i ii sacieiy. and DO as
>ure you / read it with no small degree o,
interest. and fully acq'lesce III the sdsssggrs