The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1884-03-25

hSASWhu Aahy eApihlucus LII. 40 hin.
TaE ECONOMY BUILDING ASSOCIATION. a.
= The object OF this Asso station will ba 10 en-.
able Its members to provide homes for them.
selves BY obtain!cg money at q laval rate oil
interest, and upon terms suited to their abil.
ity 10 pay both principal and interest.
A share will represent $50 60. and the
weekly duss required to be paid thereon Is %
centa. Any member borrowing will receive
the full an.9Hnt Tor which note is given, an !
will pay interest only or the actual amount OF
money received.
The interest on ashare representing $3.50, 90,
al o per cent. per Rnnnm Is $3.50, or is cents
per week; hence, the weekly payment on one
borrowed share would bs rs cents for dues
and 10 cent? interest, making q total Of 40
cent, week, aud inch weekly premiums Is
may be bid for precedence Ia taking = loan,
Any share holder who may want to with.
draw before the end OF the Association, Gao
have the amount he may have paid refunded
ut any time, sard after the fist year will
receive interest on disbursement at the rate
OF 0 percent; and after two years part OF the
earnings. II shares have been borrowed out,
tho member eau refund 10 the Association tho
actual amount OK money borrowed, and stop
the interest asd premium on II; aud can then
carry the stock In the Association, or with.
draw 1t upon the s,me terms Is though 1t
had not been borrowed ont, .g-F-.
The unsatisfactory feeling which hel here
tofore existed with the fundamental princi-
pies governing Building Associations, are, In
the main, due 10 one or all OF the following
CAUSES: agSf rrgrg =
Esr-The plans have been 60 complicated
that none but experts have been able 10 un.
deratand them. " IaI.J.s T.
SEcoND-fhe rate ofinterest under the old
system has been too heavy tax on the boz
rover, resulting in many cares in disaster.
lHIRp-Fhe exhorpi,ant rate OF interest
charged ha. deferred members from borrow.
Ing money, and the result has bsen the accu.
mutation Of money in the treasury Of the
Association which had 10 be awarded to
members who did not want it. .,
To remedy all this the Economy proposssa
plan equitable in all It's features, and 30 sim.
pie that L person Of ordinary intelligence can
understand it. TIA rate OF interest will be in
exact accordance with Law. being 0 percent
per anaum on tho ec.ual amount OF money
loaned. and the solicitors fees, which have
seemed high to persons wanting to borrow
small amounts, will be paid out Of the earn
ingh OF ths association,an not be a tar on the
borrower; hence, no difficulty is likely to be
experienced in finding borrower; bat should
it ever become necessary to award money, 1t
will ba al 30 late period that . person not
wanting to borrow can Withdraw, and get in
addition 10 the capital an equitable proper
ton OF the earnings OF the essoc;ation up to
the time OF withdrawal. Sgts :"
Attend meeting at No. 1903 Market street
up STARRY on Saturday, March 20 1884, OF 7
O'Clock r NJ. or apply TO any OF the under
signed for fnr.herinformation. nE
2 J. +. Miller, j E. HAEEs, ~
LOU, HAhrroSe, WM. GoERlHa, .
~, 9: D. MORGAN, OscAE sANonocK,
W. @. HAsDLAS, P. 3. DoDbtHs,
FRANK FALLovRE. Patrick suARKEY,
TrE4s WI. W. CowDEs.'