The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1884-03-29
THE ECONOMY BUILDING AssoclA7toN.

t-souoioJ ouisiAS AssGG!htloA. 1H plAQ IL
herewith fully explained: - - .. I
THE ECONOMY BUILDING ASSOCIATION.
The object Of this Association will be to on.
able ita members to provide homes for ,hem-
selves by obtaining money at a lawful rate OF
interest, and upon terms suited 10 their abil.
ity to pay both principal and interest.
a share will represent $4,000, and the
weekly dues required to be paid thereon is Is
cents. Any member borrowing will receive
the full ax.o1nt for which note Is given, and
will ply interest only on the actual amount OF
money received. III. P4is.I p
The interest on share representing $4,000,
at per cent. per aunum Ia $3.50, or Is cents
borrowed share would be Is cents for dues
and Is cents interest, making total OF 40
cents week, and auch weekly premiums as
may be bid for precedence IL taking q loan.
Any share holder who may want 10 with
draw before the end OF the Association, can
have the amount he may have paid refunded
at any time, land After the lrot year will
receive interest on his Investment al the rate
OF percent; and after two years part OF the
earnings. II shares have been borrowed out
the member can refund to the Association the
actual amount OF money borrowed, and stop
the interest pud premium on II; and can then
carry the stock In the association, or with.
draw 1t upon the same terms as though II
had not been borrowed out, .l{is,l r. yts,5l
The unsatisfactory feeling which has here
totore existed with the fundamental princi.
ples governing Building 4 Associations are, In
the main, due to one or all OF the following
csusee: N ,s "a
FInsr-The plans have been 60 CONF licated
that none but e1perls have been able 10 IN.
derstaud them. .tt,,s.sl y. 1e.l... =,
SKcoHu-The rate Of interest under the old
syatem has been too heavy tar on the Dor.
rover, resulting In many cases Ia diaastcr,
THIRp-The exhoroitant rate Of interest
charged has deferred members from borrow.
Ing money, and the result has been the accu.
mutation Of money In the treasury OF the
Association which had to be awarded 10
members who did not want it. I'D
To remedy a. this the Economy proposes
plan equitable In all Its Gestures. and 90 sim.
pie that a person Of ordinary intelligence can
understand It It's rate Of interest will be- in
exact accordance with law, being 6 percent
per annum on the actual amount OF money
loaned. and the solicitoIs fees, which have
seemed high to persous wanting to borrow
smnll amounts, will be paid out OF the earn.
ings Of the association and not be tar on the
borrower; hence, no difficulty is likely 10 be
experienced in finding borrowers; but should
II ever become necessary to award money, il |
will be at 80 late period that person not
wanting to borrow can Withdraw, and get IL !
addition to tho capital an equitable proper.
ton OF the earnings OF the association up to
the time OF withdrawal. Is nv. ;|T5 II
Attend meeting ut No. 1900 Market street |
up stairs)on Saturday, March 20. 1884, at |
D clock P NJ, or apply 10 any OF the under, |
signed Tor (uYthar In ormatton, l5 y 'It |
l&}s J. f. M!LLKh, J. 3. HAH3s,
Louis HARr7nSa, VIZ. GoERlso, b!
+ y: =; MORGAN, Oscar 5ANnRocK,
z rs ~ W. O.. BANDLAs, P.tB. Domains, M
IN FRANK FALAouRE,. PA7RlcK SHAaKry,
I; T7hAs ;{ W. J. ". CowDEN. ts,JS. .g.g
Y REIIA BtY HErna that unver fall Ia nram