The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1880-12-09
nnILnIna.AssocIATIoNe.

A GLANCE NJ the Various AssoeiattOnsN New
In Existence IN This City-Thsir Fast,
present and Fnture-Demand for Loans
yeFy Slack Just Now.
In the past the city Of Wheeling has had
many successful and profitable enterprises
in the way Of building and loan associa.
tons. Many extensive organizations Of
this character have existed, fulfilled the
mission for which they were begun and,
alter honorable careers, closed up. No
form Of investment has ever recommended
itself with greater favor to the masses Of
the people, and especially to those Of mod.
crate means, than that afforded by the
building association. Through such Q
channel many workingman and person
Of limited resources has been enabled 70
secure a comfortable home for himself and
his family. The general plan OF purchas'
ing q certain number Of shares OF stock,
and paying for the same in small
weekly installments, at once strikes
the man Of limited financial resources
az one OF excellent opportunities. Indeed
many lad possessing the clear grit and
energy TO earn q small sum each week, ty
showing wisdom enough 10 take stock In
building association, has been brought ont
wonderfully ahead alter q few years. oil
careful perseverance,. And many widow
ladies with means TO invest have taken ad'
vantage OF this plan. Nearly every town
and yillage OF any consequence has III
building association, and IN about every
instance they have proven beneficial tc
the place and mutually profitable TO CAPT
talists and persons OF moderate circum
stances.
In Wheeling at the present time ther'
are in existence ten different associations
In converting with the various officer
connected with these, an lsTELIlGEScsI
reporter was informed that the demand 10
money is rather slack and premiums az!
running low, there being very little build
ing going on Just now which depends Of
the aid Of the associations. The prospects
however, are for q Frightening up OF al
| fairs In this department during the com
irg year. 0ne OF the Oldest Of the associ
atoms now exis,ingis
TIE FRANKLIN
OF which O. Il. Berry is President; R. ]
smy,h, Vice President; W. q. wilkinson
Treasurer; and Charles W. Conner, secre
tary. The stockholders in the Franklin
are principally composed Of merchant
and business men. The association wa
. organized January l, 1873, and It's affair
we're virtually closed up last March, OIL
though there are yet q good many &C
counts outstanding To be settled. Th
original capital was 5000. 900, divided int
4 ono shares OF $3.50 each. The week..
. dues as 10 almost every other association
we're twenty-five cents on each share
] There were about four hundred member
at the beginning. The total receipts 70
the seven years OF It's continuance showl
in the last quarterly statement wer'
1855 900 In round numbers, and tn
total Disbursements 453. QUO. The loves
rate OF premium was ten per cent
J This low rate caused the associa
ton to run somewhat longer period thar
those which adopt 20 per cent as the lin
ted rate. The total losses are estimated
at IS. 900. Secretary Conner said that th'
asso citation had been profitable to TIT
members, however. He supposed they
had realized on average oil 10 or IL PEI
cent on the investment. For the first lev
years everything moved along nicely, bu
the panic struck them, and there wer'
some losses OF real estate through faiiurei
, OF members. The association has no rea
estate on hand now, everything being sold
: The entire business Is almost In shape u
be finally concluded. ls..s