The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1889-09-06


building associations in the city is the
~semi-annual statement. The association
has issued three series of shares consist
ing of 4, 759 shares, held by AL members
as follows;-First series, 1874 members
holding 2,11S shares; second series, lob
members hold 1,141 shares; third series,
IA members holding 1900 shares. The
first series have run So months and are
valued at s51.s2 per share. The
second series have run 20 months
and are worth S25.GS per share.
The third series lave existed five
months and are valued at S.. n per share;
The earnings on the first have been S12.S2
per share; on the second second series,
1898, and on the third series, "a cents. In
the three years the earnings of the
association have been as follows
Initiation fees. 1884; fines, $3.50;
Of shares, s15l.SS; premium sale
of loans, s24, 52S. 90; interest, s13, 492. 81, ag-
gregating $50. l17.38. The association
meets the first and third Tuesday even
ings of each month at Booraem Hall.
The following officers have been elected
president; Archibald Macarthur, vice
president; John H. Cough, treasurer;
Thomas r. Lewis, secretary; William G.
Cudlipp, counsel; Directors-Peter Nc
Even, Hugh Douglas. 7. Fl. Knight, M.
Iinner, Peter Roberts, Daniel Lewis, +.
Greene, Jr., S. o. Merwin, James Stewart,
Joseph May, G. A, Morey and james Leo.
AT the last meeting of the Montgomery
Loan and Building Association, sos were
collected. Ninety-four shares have been
subscribed to Paramount Association No.
Bergen Nos. 2 and 8, at a recent meet
ing, took in S1,07Q and sold a loan of 81 200
at a premium of fifteen per cent.
The receipts at the last meeting of the
Columbia Association amounted to S2,A2.
A second series of the Castle Point
Loan and Building Association will be
opened in October. The association meets
every Monday evening at No. 1874 Garden
street, Hoboken. a
At the next meeting of the Homestead
Association there will be a sale OF a por-
ton of the funds in the treasury,
Anew association is about to be gan
lied in the near future and will be known
as Fairmount, No. 2.
A third series of stock will be issued by
the Jersey City Building and Loan Assoc
citation at its October meeting.
During the past nine months this asso-
citation has loaned on real estate in Jersey
City about $35, 900; most of this money
goes to improve vacant property, and
thus adds to the taxable valuation in the
city. This association Is made up OF a
great many holders averaging from
twelve to fifteen shares each. OF
the money loaned in the past nine
months there were nine borrowers: of the
borrowers seven were for amounts that in
the aggregate were for $1,000 and under.
The others were one of S12,000 and one for
$1,000. Subscriptions will be received at
the meeting of September II, at the rooms
of the association, No. AZ Montgomery
street.
A new building and loan association
has been incorporated under the name of
the Glenwood, the plan of which is en-
tirely new to this section of the country.
Its aims and objects are to give to the
borrowers the greatest benefit at the
smallest outlay.
The borrower in this association pays
no interest but simply his twenty-five
cents per week on each and every share
of stock borrowed IN. The premium
paid for the loan is deducted from the
amount borrowed. The member by this
method knows exactly how much he has
TO pay each week, and is not troubled
with interest, as he is in other a~ssocia-
tionS.
Persons wishing to join should do so as
soon as possible, as the shares are being
rapidly taken up.
There will be a public meeting at No.
1856 Summit avenue on Thursday evening
next, at eight O'Clock, when the plan will
be thoroughly discussed. 1t is expected
that this association will start off with
$500 shares.