The daily gazette., 1879-05-23
FnslFsspsaeAl seslssvss sAa, nsan
AnnoefnffOn.

iThs plan Of this Association combines
all tho advantages of the old ones, and
has 6evofAk valuable Addltions, DpeclAl1y
suited to the present time. The recent
reductions Of salaries ami WNQos, with
the uncertainty Of regular employ ment,
makes it unsafe for persons with uncer-
tain incomes t0-undertake TO mako ths
MOSTLY payrpents required under fhs
pressht systslh Of Loan Asssciauons, to
,slaE Of this Associa ion IL 70 loan $500
upon a share Of stock, which feature
alone will reduce the monthly payments
from one-ehird ~ Oue.eUartb, thereby
bringing It within the means Vt greater
number Of pers0rls; this does n0eiucrease
the total sum paid In, but extends the
time Of payment, that Is, returns tho
Another advantage claimed liz that Of
allowing . shareholder, compelled TO
stop pay syment, the benefit Of the increase
Of the money he has already paid In, sub
ject to proper regulations TO prevent
abuse, and further one Ii to secure low
premiums, and, at the ssme time, good
paying stock. The phn Of the "RsFpst-
ual Savings and Loan Association" u ex-
pe0ted to accomplish these objects. It "
loans an UNLIMITED time, Independent a
tho maturing Of the loans. Tho rapid
increase In value Of the shares, the long
Or time they run, Ii shown BY the AN
ne1Bd tshlo. There is also provision
for withdrawing on months notice, and
receiving the value ofthe shares, less .
small percentage. These are conspicuous
parts OF the plan, and need only be ex-
amined TO be appreciated by those who
their savings. a"ns
The general plan Of this association 10
patterned after tho Clayton Loan Asso-
1istl On Of this city, one Of the most suc-
cassful here, ard Is Of shat class In which
the borrower gets the fun amount Of the
loan, and pays monthly tho premium he
bids on each share assigned ~ security.
II. II new ssriss 10 Issued every si1
months, and borrower can at his option
return loap. The Perpetual Savings
aud Loan Association" have adopted
these, and have added the folio wing new
features AA.E}
=, lst. Loans are made on share to the
amount Of 500, Instead Of $500, a. on
present plans.
s,gned to secure loans; that Is, they may
run An unlimited time ct the pleasure Of
| the holder. without regard to the time
the loans of the series mature, and after
| the hrst year, withdrawing sh shareholders,
| by giving q months notice, are paid the
| value of their shares, less . small per
centage. 70 be hxed BY the DiEectors
every SIX months. .g s
ID. Shares assigned TO secure loans ter
inmate and are cancelled when their
value equals the loan.
4th. SharohOidors unable to make their
| monthly payments, may be released from
the psyment Of fine, by q two-thirds
vote of the whole Board Of Directors,
aud II Afterwards the loss to the Associa-
ton ia ma 10 good such shares viii be
valued as II no release had been granted.
9th. P:operty on which money has
been loaned, aud on winch the monthly
payments have ceased, cannot ba sold
Dy the Association, until, In the judg-
ment Of the directors, there IL likely TO
be a loss by longer delay.
9th. Borrowers wishing to have their
leans terminated in less than the full
lime can do this by taking other shares
than those assigned for the loan, and
using them when their value 10 sufficient
for the epurpose. -.-.
The following table shows the approx
mate time In the months fractions omit
ted) required for each $50, of increase In
the value of share of loan stocks, based
on results realized In many associations