The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1883-04-26
a building and Loan a.,oo,,,

-~SAh AsbDC1uttOn.
ne discussion relative to buildinr , co,.
~ s;, 'a,'ofy IN Anderson has ELECTED o,.
o'e interest and enquiry as to various
I'''''nes ior Profitable investm,r,
| Nv - among Others the Organization ,f =
building and Loan Association hu
WV" marked favor by our people to s,,.h
-. 'N'ei,t 'hat we predict such an Asso,i.
"''o' VIII soon be organized and n, wor,,
:" ''' ''iidst. AS numerous enouir;as
v''s MADE into the manner of oners,;r,
.''eSc Associations We copy the fnllow1n,
rom a recent article in the N,r, ,,,, az
.' upon the subjec, Of Building and Loan
| Associations ''o"'
viii, associations are generally orpaniza,
Ea'i wv thousand shares of 500 rnch
tie e ,nutenolder pays one dollar at
sme INST monthly meeting and The sor,. a.
sum monthly until each share has besnn,e s"rie
,InI,. %IJi.!i me e. sum of one hundred and t;fiv
.,onI; uo,'IS. inns period varies. The "Home.
'.au wound up in seven wears and ,Ir.,.
.ns' ,n' tie Citizens in seven wears aud
un ,.m months, and the Peoples" in eipht
seaiS, three months and fifteen days. Evam
,,oad n,ne years the profit to an investor is a
sood ohe-iire hundred and forty JnIiars
Pald IN, in monthly instaments 81 one inLa .,iI'
raa, ,ar' lor one hundred and eight months
,Iealiains seven hundred and finy dolIars
na, in elect, 10 small investors, il is a SAVINGS
D"nh winch gives interest from tho J.To
o' ea each monthly payment.
oh;nn.. ne ilsututlons are, however, founded
e"eny ior the convenience of the borrowers
especially for him who draws h;s snn,,or,
rom wages or O fixed salary The rr",. ,n'i,,n
'u'u III each month on the shares, with tI,s
~, h.e,esl a.s on loans, is disposed of monthly.
,py auction, to the stockholders II 10
snockeo down to- him who will nav tho
u iiiishest discount. Each stockholder mnv
unoifo" S?Oo for each share held by hin,
security Tor the loan he assigns his
snare or shares To the Assocjation will
approved security, real or personaI Th;a
tu ioan Il, Is discharged, principal and interest.
Ny me payment of two dollars montblv
upon every share borrowed upon mill Tia
association winds up Al the winhinr nm
~ ~ IS considered that this loan is a payment
-, ~ auVahce TO such borrower of the amount
W De PAID to him ut the time. Conse-
the "s,x w;ndin instead Of being paid anything at
borrowed upon, his bond is cancelled. In
ton " " o"H o"i'Sa-
IL VIII at once be seen how great is the
,n:pnfehiehce to man without capital and
nalns upon salary or wages If such
P"S rent ol SZo monthly. he NAV
Dy subscribing to an Association ten shares
rDtaln loan Of $1,000, netting him, after
deductng the discount saw 81 400 The
monthly charges for this nre $40, for eight or
hime years. when his bond will be can.
ceileI. II he has purchased a house with
.ne si'ioo he wi have paid for it with the
Iehl ne would otherwise have paid to some
one else.
IL Is means of easy savings to clerks,
mechanics or laborers who may he able To
save up one or more dollars per month.
ana secures to them handsome interest,
"ii'le II also promotes the development of
the town or city in which it is located. The
organization of this Association will go
along well with our projected factory, and
will in no wise interfere with it. We
would like to see this company organized
anu at work as soon as possible.