The Dawson news. (Dawson, Ga.) 1889-current, 1889-06-19
Association.

tipnal Mutually 1eui' 'Pon 'ne
5uilding andLoan
recently orr "u,n " WHICH
e Cohstitu !"1i@eu III lawson
81 The oct. ton severely crit.
80. - ions of one of the
n,n,t succeeded in taking
Oh do 'er of shares at Albany,
,oo;ot;, es injustice to both the
~ IN and the agent. While
80 emit may have made very
A. representations in regard
Immediate placing of loans,
Els clearly within bounds in
ltrig that every member of the
iasso citation has the privilege of
ma king an application for a loan.
LII e association adopted rule at
1t organization that all applications
! or loans should be received and
iled by the general attorney and
considered by the executive COM
mittee in regular order. This
rule was adopted for the purpose
of doing equal and exact justice to
each and all of the shareholders.
The charge of partiality can very
easily be made, and it is very
easy thing to create suspicion thet
a favored few may obtain loans at
the expense of shareholders at a
distance. This association, howev-
er, knows neither person or local.
ty in the matter of loans. Every
application isnumbered in the pre-.
else order in which it is received,
so it makes no difference whether
the member resides in the city of
Nav York or in the city of Daw-
son. when his application is reachs
ed it will be considered regardless
OF eli, her person or locality. A
loan If s., 800 has just been made
to Mrs. Mary E. Wright, of At>
ianta, aid other applications for
loaus from Georgia are on file and
will be con. sidered in their regular
precise orders
Some building and loan associa-
.tions require shareholders to be
members for certain period, three
aer six months. before they can
make an application for a loan.
r There is no such requirement by
this association, as every member.
after obtaining his certificate of
shares, is entitled to make an ar ,,
plication for a loan to the fl III
amount OF the par value of his
shares IL will therefore be
seen that Georgia shareholders. are
not mere "hewers of WOOD neith-
er do they pay tribute to thu CAPT
taiists of the north.
The great advantage in building
and lean associations is theil mu,
tuality and cooperative qualities.
Each member stands on precisely
the same footing, ana it is equally
true that every m ember has the
+, privilege of borrO wing in his reg
ular turn. The great mass OF
:, shareholders in the North be-
come members of these associa>
! tons simply for investments, while
the bulk of shareholders from the
West ana the South apply for
shares with the express purpose
OF making applications for loans.
9 1t is to the interest of these asso
Citations to loan their money a,
speedily as possible. BY loaning
the monthly dues to its bori overs,
With the accumulation of premium
and interest, the fund grows and
# the shares reach their par value in
: the shortest possible period.
y We think our citizens did moi
: 60 amiss in becoming shareholder.
= in an association which is national
: in its character and which is en-,
y abled to make loans advantageous,
:. ly to shareholders in the South. in
o consequence of the great maiorit,
$ of the northern shareholders be
/ coming members simply as invest
V ors.
-
. SEVEN thousand dollars hav,
hnAn sant IN Perry, 70 JoG ~