The Forrest City times., 1888-03-31
BUILDING ASSOCIATIONS. er,sess Givna Valuable Information
 Regarding Organizations, and Benefits to be Derived From Such Corporation.
LEr Us oRGANfZE.

The following information is furnish ed to members:
 1. This society IS a co-partnership of . number of members, managed on the cooperative plan. Stock is issued in annual or semi-annual classes (series), all of whom share in the joint profits equally.
 9 Its object is to accumulate fund which may be lent to it's members to aid them in procuring homes; to in- duce them to save thelr money; and such other investments as said society may deem proper 10 make.
 3. Loan members share in the earn ings of the society the same as invest ment members. No one is deprived of his profit because he borrows. Busi- ness men of limited means have found this society a real help in time of need. Many have been saved from serious loss through it's agency when every other string broke.
 {. The net rate ef interest earned on the investment is estimated by the board of directors to be not less than 10 per cent. per annum.
 5. Panics and great financial up- heavals have never exercised an un- | ioNOtoLAC cIluaDkCIcu lDS business of an association of this kind They have passed safely through several of them without having their securities depreciated. The money is invested at home and controlled on the spot. Attention is invited to the fact that the securities become stronger every month.
 6. No one is compelled to remain a hr but -ssk. first year. by giving thirty days writ ten notice.
 :. Withdrawals receive back all dues paid in and the larger share of the net profits earned.
 s. Printed annual reports are mailed to all members at the end of every year.
 g. Stock subscriptions limited to 6 600.
 10. Non-resitents can become invest ment members, but no loans are made outside of the county. The general powers of building and loan association are those usually granted by a charter to an incorpor ated body associated for specific purposes. In addition to the power to purchase, hold or sell real estate necessary in the transaction of a corporate busi- ness, they can establish bylaws and Dake all rules and regulations deemed expedient for the management of corporate affairs. The promoters of nearly every association formed for the bettering of the condition of the work ing people have to great extent in- l corporated Tn their constitutional pro- visions the idea of cooperation. And It s upon this idea mainly that build ing and loan associations are organ | ized. It IS that a number of men of small means may, by becoming asso- ciated and working together, accom- plish what they could not do for them- selves individually.
 The usual method of organizing has been for a few men-say five. seven or nine-who wish to promote an enterprise Of the sort to make an ap- plication for charter with the names Of the charter members constituting the 6rst board of directors. and then canvass for subscriptions to the shares. Lately, however, it is deemed best to get the names of all willing to join and the number of shares they desire to take, and then call them together for organization. Then each shareholder Noh HoNt RoAs ulahlIlk but DI-laWS and regulations and in the selection of the officers.
 In this article it is not necessary to say anything of the advantages of co. operative associations, based upon sound principles and oficered by capable business men. We shali. however, try to give an idea of the manner in which such associations are managed in order to show their benefi- cial results.
 To bring about these beneficial re- suits is the most important thing, and is done as follows: We give the plan as explained by the Manchester Times.
 Each share of stock is valued at $2OO, and each member is required to pay $1 on each share of stock held by him every month, making SIP a year on each share.
 When there is 500 on hand it is put up
 at auction and sold to the highest bid