The Sunday herald and weekly national intelligencer., 1891-03-22

It is now nearly eleven years since the Equi-
table Cooperative Building Association was
Incorporated in this city. During that period
the organization has rapidly and steadily de-
veloped until now it is one of the most sub
stantial and fiourishing companies of the char
acter in the country. In order to more fully
illustrate the enormous and well-deserved
growth of the Equitable it may not
be amiss to herein quote from the COM
pany's published lists of assets the past
ten years: First year. November, 1880, $685.
754.79; second year, November, 1881, $121,
073.26; third year, November, 1882, 1884,
210.99; fourth year, November, 1888, S2s4,-
646,02; fifth year, November, 1884, S427 ,9s769;
sixth year, November 1885, 1859 1926;
seventh year, November, 1886, S701 ,57626;
eighth year. November, 1887 1911 ,S92.2S;
ninth year, November, 1888, $971, ,539.64; tenth
year, November, 1889, 81, ,119,062.77; assets,
eleventh year, November, 1890, 81, ,155, ,2os.2l.
Advances to members to pay for property,
ETC., have been SO, 7O4, 300; repayments and
settlements, $2673 201; balance held by
members, 81 ,030, ,36199. Average monthly re-
ceipts past year, $SS, ,42127; average monthly
receipts since organization, $44, ,531.31; total
receipts since organization, $5,S7o, 132.49.
Iuc payments anu earnings Ou StOCh w
October $780, make the value in each issue as
follows First issue, $3.50. .09; second, $399.25;
third, $35O39; fourth, 303.52; fifth, S2S0.s3;
sixth, $25S63; seventh, $236.93; eighth, $215.73;
ninth, S195O2; tenth, $l74.S eleventh, $155.09;
twelfth $135, 49, thirteenth, $117.15; fourteenth,
S9S.93; fifteenth $S1.2O; sixteenth, S63.97;
seventeenth, SAT 90; eighteenth, 5000; nine
teenth, $15.24
L IL
of long experience have been interested, and
the purpose of all has been to make it an i'm
provement, as equitable and beneficial as pos
sible, and creditable to all concerned. How
well and successfully this has been accom-
plished is demonstrated by the large and
steady growth of the association from year to
year.
The main principle upon which the Equitable
is organized is to enable and encourage its
members, first, to make regular monthly saw
ngs of fixed amounts on shares held; second,
to purchase pay for, and acquire property by
obtaining advances on long time, repaying the
same in small monthly instalments, with the
privilege of settling all or any portion of the
advance at the pleasure of the borrower.
Therefore the association may be said to con-
sist of two classes of shareholders, viz.
fiTbJ. lnOSC WuO Indhe SySGelHdIlc pdyIlcuIS
on stock as savings, who may or may not take
advances and
Second. Those who obtain advances to Sc
cure homes or acquire other property, etc.
In framing the constitution and rules of the
Equitable, in the light of past experience it
was plainly the part Of wisdom to make the
advantages and benefits as nearly equal and
just between the two classes of shareholders
II
that the nearer this is secured the more per-
feet and successful the association will be-
come, and more satisfactory, in the long run,
to ALL The aim is to make the association in
reality mutually beneficial to each class of
shareholders by giving fair interest upon
savings on stock and by making advances at
reasonable rates of premium
Thepractce of saving regularly every month,
or of paying into the association by regular
monthly installments for property has whole
some effect in establishing habits of thrift and
economy among its members. 1t prompts and
causes many to save and acquire property sys-
tematically who might otherwise not live
within their income.
The Equitable is designed particularly for
persons of limited means and income. 1t
affords no inducements whatever to capital
The funds, as paid in monthly, are required
to be invested, SO that there is never any con-
siderable amount left idle and on hand
Our association offers opportunities that do
not exist elsewhere 1t deals with its own
shareholders only, and is conducted upon CO.
operative principles that are not theoretical,
but which have been tried and found practical.
The association has proved a substantial help
to its members-frst, in their efforts to sue
cessfully save and accumulate funds, and, sec
ond, in finally securing homes and other
property
Special attention and consideration is called
to the provisions of the constitution and rules
of the association relating to advances. All
who contemplate buying homes, or have
mortgages to pay off, etc, should inquire
into the opportunities open to them in the
Equitable on more favorable and adyanta-
geous terms and with less expense than loans
can be obtained from any other source.
In obtaining advances from this association
member acts as his own broker, and avoids