Martinsburg weekly independent. [volume] (Martinsburg, W. Va.) 1873-1875, 1874-06-20
A LOAN BUILDING ASSOCIATION
ON A NEW PRINCIPLE

Mt ~. Al. bllkley, In q c0Inmu
nlcation to the Springfield 10Y
hepu6lic, furnishes details 81 Il new
Loan and Building Association.
incorporated on an entire change
Iof practical working from those
now in operati0n.v AS all matters
connected with these associations
are of special interest to 4 large
number Of our readers, we give his
scheme in full.
! This plan Is based on only two
hundred shares at one dollar per
share, paid weekly, for fue wears
offifty-one weeks to the year. Each
share to be worth $500. Every
| three weeks 5000 will be on hand.
to loan at eight per cent. interest,
and this amount being regularly
paid and loaned every three weeks
the sum total received the first
year of fifty-two weeks will be $40.
200, the interest for which will be
S436--this Is a little less than the
true sum--you will bear in mind
that the first 5000 runs tie full
year, the second 5000 only forty
nine weeks, the third foriy--six
| weeks, and so on.
Now, at the end ofthe first year.
we have the full 10, 200 at interest
for the second year, which interest
will amount to $8I6 and during
the second year another SIG. 900
will be paid in to draw the interest
$436, same as first year. At end of
second year we have $50, 400 at in
terest for the whole OF the first
year., which will amount to 81 ,632
and during this third yea. another
$4,000 comes In To bring 1896
interest and so on to ed Of fifth
year, when no more weekly dues
are to be paid in, and we find we
have $5l 900 at interest for the
sixth year. At end or sixth year
the whole can be closed promptly.
To recapitulate the above:
$40, 200 weekly dues first year,
averaging about half years
terest...,............. ............. s 1876
10, 200 weekly dues second year
averaging about half years
Intefest ......... ACKNOWLEDGEMENTS. 436
10, 200 at interest for whole of
sec md year..s...................,. Sl6
90 400 at interest for whole of
third year.. ...~...;..~ 1882
10, 200 weekly dues for third
year, with average interest 436
80, GOO at interest for whole of
fourth year................. ....m. 2448
10, 200 weekly dues for fourth
year, at average interest..... 436
40, 500 at interest for whole Of
fifth year, ...;..............:... a,264
10, 200 weekly dues for fifth
year, at average intercst...... 1876
81, 600 at interest for whole of
sixth We ar.......................... 1880
$5l 900 dues. Total interest at
end OF sixth year. ............... SID, 40
Now add the SOL 900 dues to in
terest, $14,420 received, and we
have $65, APO; and as 200 shares
are to be paid Off with $500 each
to 100000, we have a
profit of 5,420 to be divided
to each share, less the ex-
penses, which ought not to exceed,
for the whole six years 81 900 to 81,
800. Finally this plan as above
stated presupposes no shares to be
held as an investment, simply:
prompt weekly payment of dues:
1iCo UO WI tWthJ WY vi Natit 6tidtG
will positively be paid in full, viz:
$500, NTH the decisions of profits
while said shares has only cost 1856
for whole term of five years of fif-
ty.one weeks to the year. This
certainly is, If you wish to call 1t
an Investments good thing. Now,
If only 200 shares will produce
these results, how much more and
better it would be if the shares
| 600. In this plan there
are no premiums, and certainly no
one can fail to understand its prac-
teal workings, and that there Is
no cheat, no humbugging, and that
every share will always be worth
more than par.
In the above calculation, no &C.
count has been taken as to the
payments of interest,
which put out, will but increase
the profits.
; In Wilmington, Delaware, re-
Gently, respectfully dressed lady,