Evening journal., 1890-03-22


neapolis, MINI.
II would not be easy 70 attach too much inn
portance 70 the work that Is being done nova
days by the leading national building and
loan associations that have been organized
during the last few years The system upon
which they operate makes IL possible for peo-
PIE OF the most moderate means to invest suCh
money as they may have TO spare In such a
manner as 60 secure large returns with abso-
lutte safety.
One Of the strongest and best managed of
such organizations is the Security building
and Loan Assoc alton Of Minneapolis Mimi.
operating under the very stringent laws OF
| that state pertaining 70 Is a l.. Associations
The authorized capital Of the Security
Building aud Loan Association is Sl0N00ON
and the subscribed capital Is S5000,0O0 Its
officers comprise some of he leading citizens
OF the West, and its stockholders are 20 he
found in all parts OF the country The object
Of the organization is to provide safe and easy
facilities FOR men Of small means to save and
| &C cumul te portion OF their monthly earn
| i egs until capital is formed which viii en-
able them 10 provide home, enter into bust
ness orpay oil debts and mortgages. Those
who wish to borroware also furnished with
/ loans on easy terms OF repayment Ia other
words, the Association consists Of both bor-
rowers and Lenders, anu the system IL OF
/ mutual benefit 60 both
| TO accomplish this object the members sub
/ scribe for shares and pay for them in small
each, and the payments viii be 90 cents a
/ month on each share. The money thus ac-
| cumulated II loan d out on good security aud
/ fair interest to such members Rs may desire
| to borrow. The interest is payable monthly,
| and again loaned out. thereby causing an ac-
| cumulation rapidly growing into capital, in
| which every member shares equally, accord
/ ing to investment. Experience has demon
| strated that II takes from TO sit years 10 ma
| ture the ahares IN other words $50 Co 800 thus
| paid In easy inataliments will entitle the
owner to sl0o in one sum at the end OF that
/ time.
The funds OF the association VIII be loaned
on real estate, and only to members. No
member can obtain a loan. aud no bid will be
| received from him, until three months after
| the date OF his eertificats. Loans must be
| secured by first mortgage on real estate. and
| cannot exceed 80 per cent OF its caAh value
| The ratio of interest wi be O per cent. pei
annum on the money actually loaned. All
| members desirin. loans viii be allowed 70 bid
for the same; Members Offering the largest
premium aad best security will be entitled tt
the loans. All interest Is payable monthly
II is easier for person working on
salary to pay small sum monthly
than 70 pay a lnsge sum once a year
The profit to the association Is also greater
~ It ~ enabled 20 compound interest monthly
instead ot yearly. The premium Is not uai,
in cash. but borr1 gtr must carry storl
enough SO that he par value will equal th
| amount Of the loan and premium together
| All that is required of the borrower a to ia
/ the interest pn tn loan and the monthly nav
ments ON the stock When the stock mature
: mortgage Is cancelled
Members who have not real estate to offe
as security can borrow on the security q
their stock after they have been stockholdei
' | for two years But not more than 80 per cen
n OF the current value OF The stock Is loane
y upon IL
The system Of this association Is Ii
| superior to that OF the local building sOei,
ties. by reason Of the higher rate Of interel
earned, this rendering possible the earli,
maturity of the stock. The local societi,
. take ten % twelve years for maturing the
e stock, while stock in this association vi
mature n about seven years
Shares in this association may be paid Z,
!, In single installments OF also upon ether
+ the following plans;
y PREPAID STOCK, CLASS "a
}. $40 il prepaid on each share: when q
!, quarterly dividends, compounded, amount
! 500 per share. the certificate natures and Il
= owner receives SlO0 on each snaie In canee
o lation. The slime required to mature ella
a stock IL about years. Glass 'Am st0l
a meets the wants OF members vi
do not need y regular income from their /
lo vestmonte.
r. PREPAID STOCK, CLASS ''n."
81 s35 prepaid on each shAre; attached to Ger
hcete or coupons for Si.e5 per share (bein
l. per cent per annum on S65 payable ser
annually in New York Exchange. wAon
quarterly compounoing, the dividends In
~ cess OF coupons amount to &35 per share,
certificates mature and the association ID
Z, 500 per share 10 cancellation OF the sto,
- This class pays good interest In cash ser
annually and earns dividend in exec
cd which compounded Quarterly, returns Sl00
maturity for Sd0 Invested.
~. PAID-UP STOCK.
- Shares may he paid up in full at any time
payment OF 800 per share In advance, a
ar- such shares draw full semi-annual divider
ID, IN cash each January 18th and July l5l
"Paid-up" stock brings the largest incOn
the whole dividend declared being payable
| cash.
The association has established a wilmil
ton branch Office at No East Seventh str
~ lHeald Buildingl. large number OF sha
~ have been sold 70 prominent business m
mechanics and others In Wilmington, and
IA local board ie being organized 10 be compo.
- Of such shareholders, to conduct the affa
sts OF the Wilmington branch Of the associate
n making Il home loan as far as practic
20 | Further information can be obtained by e.
~ ing at branch Office, No East Seventh strs
no where You can make application fer any nu
sd Der Of shares Explanatory circulars will
ial sent to any address on application, at v
80 mingtOn Office.