Daily Republican., 1890-03-15

How Moderate Amounts Of Nose y
Cen hO Placed 10 Coed
Advantage.
Interesting Facts About tho -.
eurity Building snd loss As
ISOLATION, Of Minneapolis, Mlnn.

1t would not be easy to attach too
much Importance to the work that IL
| being dono nowadays by the leading ma.
tionnl building and loau associations
| that have been organized during the
| last few years. The system upon which
| they operate makes 1t possible for peo-
vest such money us they may nave to
| spare In such n manner MS to secure large
returns with absolute safety.
One OF the strongest and best managed
| of such organizations Is the Security
building and Loan Association, Of Min
heapolis, MINI, operating under the
very stringent Flaws Of that state per
| tanning to b. 4 j.. Associations.
The authorized capital OF tho Security
building and Loan Association liz ti0. Co.,
| 900 and the subscribed capital is 81, %, 900.
Its officers comprise some OF the leading
| citizens OF the West, and its stockhold-
country. The object of the organZinti ion
is TO provide safe and easy facilities for
| men of small means to save and accu-
muate II portion of their monthly earn.
| ings until II capital is formed which will
enable then to provide u home enter
into business or pay on debts and mort
cages. These who wish to borrow are
also furnished with loans OH easy terms
of repayment. In other words, tho ALSO.
| citation consists of both borrowers aud
lenders, and tho system is OF u,utua.
bene 1T to both.
| TO accomplish this object the mem
| bers subscribe for shares and Lay for
| them in small monthly installncuts
| The shares are 500 each, and the pay
inonts will be 90 cents month on each
| share. The money thus accumulated Is
| loaned out on good security and fair in
| tcrest to such members ms may desire
, to borrow. The interest is phyabie
monthly. and ngnin loaned out, thereby
| causing an accumulation rapidly grow
| Ing into n capital, In which every mem
| Der shares equally, according to invest
ment Experience has demonstrntedt that
the shares; tn other words SO to $40 thus
paid in easy instalinirnts will entitle
the owner to siuO in one sum Mt the end
OF that time.
Tho funds Of the association viii bc
loaned On real estate. and only to mem.
bers. No member can obtain loan
and no bid will be received from him
until three months after the date of hi
certificate. Loans must bc secured by
first mortgage ON real estate, and can
not exceed 80 percent. OF its cash value
The rate OF interest will be per cent
per annum On tho money actually
; loaned. All members desiring loans
will be allowed to bid Tor the same
, Member $ offering the largest premium
Q and best security WI be entitled To TIL,
. | loans. All interest Is payable monthly
. 1t Is easier Tor II person working on
SALARY 60 pay II small sum monthly tlnI
= to pay large sum once II year Tn,
i profit To the association is also greater
9 ss 1t IL enabled TO compound interes
q monthly instead Of yearly. The pre-
= MUM is not pm Id in cash, but n borrow
. or must carry stock enough so that tn
par value Will equal the amount of tn
loan and premium together All tia
IS required Of The borrower Is to pa
the interest on the loan and the mont!
ly payments ON the stock. When til
n stock natures IT repnys tho loan M
10 premium. and the mortgage is Gun !ct
It Members who have not real estate /
At oncr as security can borrow ON the y,
"a cnriyt OF their stock after they hav
= Ia..1 d.ar#- f.t
III not more than 30 per cent of the currc,
10 value of the stock Is loaned upon IL.
" The system OF this association Is fa
II superior To that of tho local buiidin
!, soeieties.by reason OF the higher rate {
u, interest earned, this rendering possibl
10 the earlier mutnrity of the stock. m
th local societies take ton to twelve yeur
for maturing their stock, while stock
TINS association will mature in abot
seven years.
Shares in this association nav be mi
20 Tor IN single instnlments upon either ,
~ the following plans;
ID rnErAID STOCK. GLASS "a"
~ $40 is prepaid ON euch share; when Il,
~ quarterly dividends, compounds
he amount TO $50 per share, the cert,ilrn
OF natures and tile owner receives siUu {
Nv each Share in cancellation. The time 4
" CURED To mature class "a stock Is nbo
|, years Class =" a" stock meets the wan
J. of members who do not need u reuul,
10 income from their investments.
IN PREPAID STOCK. GLASS IN.
:" sj5 10 prepaid on each share; attach,
To certificate nre coupons for Il.
per share tbeiny 6ppr cent. per nnnu
v. on 500 payable senli-annuaily IN Ne
no York Exchange, when by Quarter
40 compromising, The div idends in exec
~ OF coupons amount to f35 per share, ii
" certificate, natures and the ssocilti,
ay pays 300 per share I'm cance llntion
a tho stock This class pays good intcrc
ca IN cash scIni-annually and earns u di,
-, dehu ia excess, which, compound
~ quarterly. returns 800 ut maturity 1
la STD invested.
rAID-UP roCK.
Shares may be paid up In full at al
time On payment of 500 per share in Il
I'd vance, and such shares draw fun sen
n annual dividends in cash each Jan,i,l
!. 18th and July 18th. 'rnid-up" sto
C. brings the largest income, tho VIII,
4 dividend declared being payable In cas-
ct The assoc iation has estubl lshed Il W
NJ mington branch office ut No. Ia
n Seven tn street Head Buildingl A lar
number of shares have been sold
prominent business men, me chnnics M
others In Wilmington, and u local boa
Is being organized to be composed
.cl such Shareholders to conduct the IL III Al
" OF the Wilmington branch of the rs,
- riation. making 1t 4 home loan AS far
4 practical. Further Information can
NJ obtained by calling at branch offlce,
~ East Seventh street, who're you q
be- make application for any number