The Indianapolis journal., 1891-10-18

properties in last SUNDAYS Journal. through
which they sold one-half of the list during
the week.
The Bluff Road association. one of the
leading South-slde societies. has had n
profitable year in the one just closing. and
has succeeded III keeping all tsmOney con-
stantly loaned.
The Homestead association has had a
very prosperous summer. and built num-
her of high-class homes for members 4
large number of the dwellings have been
In the Marlette Park neighborhood.
The Prospect-street association has all
its funds out and could loan more could
they be had. The brisk building boom
that has taken hold of the southeastern
part of the city largely augmented the list
OF borrowers In this society.
The East Michigsn-street association is
almost ready to wind up its shares and ter
inmate, after an existence OF less than SIX
years. The members Will probably unite
in forming another society that will arise,
Ph9nix-like. out of the ashes of the old.
The indianapolis Saving and Investment
Company has almost caught up with its
borrowing list and will soon have funds to
put out. Another series will mature In De-
cember. and the lOaning fund will be nee
essarily smaller until this is out OF the
way.
local building association is greatly
needed at Elwood Ind. A number of the
State societies have fiourishlng branches
there, but the citizens are anxious to estao
lish a strong local company that will col
lect funds and enable the people who are
f1ocking there to build their own homes:
All the other gas towns have strong local
associations. kokomo leads with q home
society containing twenty-five hundred
shares of stock.
The Home builders association is erect
ing handsome homes in Woodruff Place for
fwn of fa ,herS The RecfafV has
just finished several new houses in Mar
lette Park. Although one of the youngest
of the local associations, being but six
months old. the HOme-builders has erected
lZatiOns.
The Franklin association does one of the
largest businesses of the strictly downtown
associations One can enter at any time
and procure a loan without the payment
of back dues, thus enabling a borrower to
obtain loan on the most favorable terms.
All of the newer associations are organized
upon this plan, and 1T is probable that,
with the strong cOmuetitiOn for new busi-
ness among the many associations of the
city, 1t Will be found necessary bv all to
adopt this sensible method of inducing per-
sons to join.
The Railroadmen's association, like the
balance of the local societies, reports the
building season just closing the banner one
of its existence There has never been a
time during the past year that the So
ciety has had an idle dollar, and the
most of the time has been compelled to de-
cline desirable loans from lack of funds.
Profits run large and steady, and never fall
below per cent. per annum. The society
was ORGANIZED and is officered by railroad
men, although among the list of stock
holders are numbered men in every busi-
ness.
No better evidence of the constant devel-
opment of the city through the saving as
sociations can be afforded than by the ex-
ample OF q new addition plated on MiChi-
gan avenue near State street. the past
summer. Between thirty and forty homes
have been erected in the addition, nine
tenths of them with funds fur
, nlshed by the local societies. All OF
the houses are occupied by the owners,
who are railroaders and mechanics. Every
owner was tenant until able to- own his
own hearthstOne through the benetcent
provisions of the associations. Nothing
proves better the steady growth of the city
than the fact that while new homes are
being erected everywhere and the rank OF
the army of renters constantly depleted
there is no cessation in the demand fol
small, comfortable houses to rent.