The Louisiana Democrat. [volume] (Alexandria, La.) 1845-1918, 1890-05-14

all borrowers may Ue SclNcu dlhos "o0 |
,ciU be no bidding for loans IN thas Jssoc'a,
ton, but all loans will be made at liked
premium of so cents per month on each
800 borrowed. The rate Of interest charg-
ed ,ciN be 6 per cent. on the money actudty
loaned. BY this means the borrower can
count to certainty what all loans Will
cost, and near approximation can De
made as to the maximum time when the
stock will mature"
In the locals loans are auctioned to the
highest bidder, and are subject to dis
count of not less than Is per cent, and
have been thus far in the Alexandria and
Pineville Association discounted at about
rs per cent, and was run up as high as 4o
per cent. I had intended comparing by
illustrations the difference between the
Alexandria local and our association, but
Mr. E. j. Sullivan, Secretary and Treasu-
rer of our organization, i'll last issue of the
Town Talk, so clearly demonstrated the
superiority of the Nationals over the locals
so far as cheapness is concerned, that moth
ING more could be added to his lucid ex-
PLANTATION.
Relative to the maturing of stock. we
quote from the above mentioned authori-
ty, the "Southern Home" Building and
Loan Association
| "Stock natures when the payment made
upon it. and the quarterly dividends adj
ded, amount to the par value of 500 per
share 1t is estimated that this will be in
seven years or less time, allowing the AS
ISOLATION to make only an ordinary profit.
The special advantages Of the Southern
Home" Building and Loan Association
must commend it to any one at all famil-
lar with building and loan plans. Its
stockholders have a positive assurance OF
large profits upon their investments. Mr.,
Thomas Gatfney, of Philadelphia, one of
the best building and loan experts and
accountants in Che Union, says that sun
der this plan the rate OF gain will be n
per cent. per annum" He gave this opin-
ion after very close and careful esti-
mate.
f l would ask those interested in this
matter to read carefully not only the fol
lowing illustration, but also those Of the
President of the Local Association, which
, appeared in Toun Talk Of May Sd, and
those of Mr.. Sullivan, printed May 10th
in the same paper.
ILLUSTRATION
Showing the profit to shareholder
who carries ten shares as an investment
Membership fee, 10 shares. .......$ 10 OF
Monthly dues, Sc per month for
months IN
! Sum total. ...................$ 1903 "
The shareholder then withdraws from
the Association 81 900 in cash, making /
net profit Of 1892.
/ ILLUSTRATION
: Showing cost of loan of 81 GOO it oh
e tanned ninety days from the date Of Ger
; titicate:
. Membership fee on 10 shares. .....$ 10 0
. Monthly dues, Sc per mouth, for 80
30 months. 4So v
, Monthly interest, So per month,
i; tor 81 months. 4O0
i Monthly premium, or principal, S.
per month, 81 months. .......... 405
- Total cost in 7 years. ....... .$l318 G
Amount borrowed. .......... 1000 G
IT. Net cost or house. ...........$ 3l8
And to offset this the borrower has ha
lo the rents for six years and nine month";
Is 1t will be noticed that the total cost pt
D, month"; after the member borrows $10O'
10 is only SIG. This is no more than sslch
house wonld rent for i'll many localitie
-, ILLUSTRATION
Showing the cost of a $1,000 loan if Of
ID tanned at the expiration of three yea
" after joining.
a. Membership fee on 10 shares. ....$ 10
III Monthly dues, Sc per month for
IS months. ......-............. 49o
Monthly interest, S. per month
III for AZ months ................. 24O
be Monthly premium, or principal,
~ SIS per mouth for 48 months.... 240
1Otll COSU. s.'.Y 700
Amount borrowed. .......... lUUU
lg 1t will thus be seen that the amou
borrowed is more than that paid into t
nj Association.
w. The President of our local associate
70 thinks that it should receive the suppc
,;s of the community, because it is a home
NJ stitution. Though different in name o
h institution is also home institution.
70 The members of our branch must be re
er dents of Rapides Parish, and, of cour
q, when we borrow, which must BIZ do
ov with property in this Parish as securit
ana we invest our money for the welfare q
IA permanent Improvement, not only of tt
r. town but Of the whole Parish.
rr Not one of the members of our Nation
,rt branch wishes to be understood as
ms tempting to detract from the good wo
oe the locals have done and will, I ho]
continue to do wish it success. We
ia. not object to any advertisement Of t
ira merits of our local association, but thi
gs it only natural for one to act, at lea
ID upon the defensive when violently asss
ed. We believe that we can benefit, l
va only ourselves, but the whole communi
Id by upbuilding and firmly establishing
Are National Building and Loan Associate,
.r 20 We desire those wishing to beco
tie members of Building and Loan Assoc
lat ton to not only, if they choose, seek
ny formation from us, but to also study [
It's workings Of the locals, and then deci
ge- Should any persons wish any informant
ms from us we will gladly give it to the
to1 of our ability, and send them circul
as and pamphlets.
dor Wa dn not inland Tn danounca tba In