Evening star. [volume] (Washington, D.C.) 1854-1972, 1885-12-18
CITY AND DISTRICT.
TINE 0EORGErOwN BUILDING As.
8OCIATIONS.
The Twelfth TNkinx Measures 90 Close
Cp Affairs.

THE CONDITION OF THE AssoCIATIoNs-wHAr
Mr.. KING sAYs-How THE OLD AssoCiA-
TIoNs HAVE SUFFERED By PAYING HIGH
RATES OF INTEREST.
An adjourned meeting OF the Twelfth Build
ing, association OF Georgetown was held last
evening at Goddard's hall. but only seven or
the seventeen stockholders pu. in an appear
ance, although owing TO the published state
ments made in regard to the condition OF the
Eleventh Building association. there were quite
a number present who were connected with
other associations. All but stockholders were
excluded nom the meeting. and Mr.. John
Leetch, In the absence of the president and the
vice president, was called to the chair. Mr..
Ferdinand King, the secretary, and Mr.. Robert
+. Frey, the treasurer were present After q
brief consultation il was decided to instruct the
finance committee To examine the accounts
MN tne , view, II possible OF closing up the
meeting. In order TO bring this about IL was
stated that the stockholders will have to pay
or six hundred dollars. The officers stated cha:
the association had done no business for several
years. but that the eight per cent dividend had
continued TO be paid on the stock which, of
course, In the absence Of sufficient earnings had
come ont of the capital. This association, like
the Eleventh. Thirteenth and Fourteenth, has
about the same officers, and should have been
closed out several years ago. but Mr.. King says
that II has always been impossible TO get the
sSNaSAoSAS Va tuc AWciith 10 ettcuo tue Iueet
ings.
THE PER CENT MEMBERS
Tonight affords q very fair illustration of
the attention which the stockholders give to
the affairs OF the association" said Mr.. King to
STAR reporter. There are only seven out Of
the seventeen stockholders present. The asso-
citation ought to have been wound I'D some
years ago, as IL has done no business. simply
because the rate OF interest was too high and
every effort made to get the Stockholders to
agree TO a reduction has failed. Younger asso-
Citations like the Citizens Equitable aud the
make loans ut and per cent, and there has
been no call for money at s per cent, especially
when IN addition il could be obtained at the
lower rates from banks and private indivi duals.
There l. no cause for alarm on the part O. peo-
pie who are interested i'm these associati pns
The Citizens Equitable and the Co-operat We
art i'm good condition, because they hnN e
adopted their regulations Ia the condition o.
the money market. The other four associa tons
in Georgetown have not, and In consequence
their capital stock is more or less depleted
MR.. KING SAYS HIS ACCOUNTS ARE ALL RIGHT.
Mr.. King went on TO say that the statements
published had been greatly exaggerated, and
that his accounts would be found TO be all
right. In regard to The Eleventh the finance
had propounded To him a number of questions
which he had not had time a. YET to examine,
but lie intcn.ed % make a .ull reply Tor sub
mission to the as -ocia tipn.
Mr.. . Thomas Brown states that he Is not
and never WAS director o. the Eleventh
Building association, AS was reported in yes-
terdays STAR.