The Durham recorder. [volume] (Durham, N.C.) 1879-19??, 1891-05-06
ager Of tie Company may see &c to

l AO<hN0
The Mutual Loan and Trust Con
pany will advance money upon REL
estate guaranteed BY first mortgag
ats per cent. per anuum.
This interest shall epaid month
| ly, and the revenue afforded BY /,
compromising may 70 into the prot
il fund, (sec below or utilizei {
increase the loaning capacity of til
COMPANY as the directors may deer
to be its best interest. These loan
will be limited 10 the stakeholder
Of the Company, and will be mad
upon the following conditions.
4 certain sum recommended b
the business manager, and approves
by an advisory ! ard. shall be Sc
aside mont tor this purpose. an,
may la ,orained BY the holder o
fonr ,4) paid up shareo in he Mu
tual Loan and Trust Company. N,
applicant can require more thar
800 upon every four (4) shares
held by himself.
Loans on real state include tht
advance Of money to holders Of lots
in the Middletown Land and I'm.
proyement Company, who shall be
entitled on subscription to the above
conditions to borrow a sum not ex-
ceeding S125 and not less than $50
on each lot held BY them in the
said Company.
This maximum and minimam
shall hold good for twelve l2)
months from the organization of
the Mutual Loan and Trust Com
pany. but may afterwards be in.
creased by the resolution of the
board of directors after the expira-
lion of that time, providing the
current prices Of lots shall have
augmented III ya'ue.
The business manager of the Com
paiiY may reject the app!lea ion for
1 loan ii such rejection BE- III the
Interests Of the ompInF and i,
ratified by the advisory board and
he directors Of the Company.
REPAYMENTs OF LOANS.
THE repayment Of such loans
shall lie made in monthly payments
u 10 per cent. on the amount OBJ.
tanned until completion is made Of
the sum loaned.
SAVING BANK.
The Mutual Loan and Trust Com
l.any IS empowered BY charter 10 do
4 general banking business.
!, eature Of its organization will
he a saving Institution which will
receive ums OF 81 and not exceed.
,ng $500. The deposits will he re-
elYed at 1 per cent, aud all per
.ons whosr deposits 81 III have been
eft with the Company for twelve
(I2) months will 81 entitI,.d q
III the division Of 70 ,,eI
cent. Of the profits earned By the
umpany through the rlse Of de.
pnsits IN addition to 4 per cent IN.
crest.
These deposits being strictly loans
TO the Company will NOT I,4rticipitr
in lie irIlits and privileges of the
re .ulss shsrehglers.
IDtffest is computed semi annn.
ally, on the lstFof January aud on
the lst Of july. DepIsItors draw.
ing their deposits will receive in.
;erest only to date Of the hall
yearlg computation Of interest pre-
viDns to withdrawal.
BUILDING LOANS
The Company not being purely !
Guiding sccielY will limit its opera.
iiuns in this department 10 assist in
he erection Uf houses upon thu
property held ~ the stockholders
II the .iiidletuwn Land and I'm.
,,fJyemei.t ompAny.
The field here is vast and ample,
mere beng J. demand to-day for
over l00h ,u.es which is likely h
treble itself in the near future.
Stockholders in the Mutual Loan
,nd Inst Company only can OBJ
! ain the benefits Of such loans upon
The following conditions:
The sun advanced bY the Mntua
Loan and Trust Company for built
ing purposes will be available upon
The conditions above specified fui
,iher leans. The sun, however,
Willie limited 10 two.thirds u til
c,st price Of the house that th
borrower may Intend 10 erect, aud
its repayment shall be guaranteed
/ a first mortgage.
The interest shall lie 0 per cent
per annun, payable in monthly in
sailmenis, AID the repayments o.
liz ,um lOlnpd shall be in sums MOI
Needing ) per cent. npon th,
AMOUNT loaned
Active Agents required
For further particulars ad.
dress
THT MUTUAL LOAN
A ND TR UST CO.,
(lr