The Durham recorder. [volume] (Durham, N.C.) 1879-19??, 1891-04-29
ager Of the Comp Nv NAV see iit to

tasy terms. and profit by an adj
eance ia value to resell it. -
LOANS
The Mutual Loan and Trust Com
pany will advance money upon rea
estate guaranteed BY first mortgage
ats per cent. per annum.
This interest shall be paid month
ly, and the revenue afforded by ii
compromising may 20 into the prof
it fund, lsee below or utilizel !,
increase the loaning capacity Of Chi,
Company as the directors may deem
to be its best interest. These loan
will be limited to the stakeholder
of the Company, and will be mad,
upon the following conditions.
A certain sum recommended b,
the business manager, and approved
BY an advisory bard. shall be SCI
aside mont .nrthis purpose. ana
may - .orained by the holder Of
four "A J paid up shares in the Nh,
tual Loan and Trust Company NJ
applicant can require more than
800 upon every four (4) shares
held By himself.
Loans on real state include the
advance Of money to holders of lots
In the Middletown Land and I'M
proyement Company, who shall be
entitled on subscription tothe above
conditions to borrow sum not ex-
ceeding $l25 and not less than $50
on each lot held BY them in the
said Company.
This maximum and minimam
shall hold good for twelve (12(
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-
tion Of that time. providing thu
current prices Of lots shall have
augmented in value.
The business manager Of the Com
pany may reject the appllca ion for
4 loan if such rejection be in the
interests Of the. ompany and il
ratified by the advisory board and
me directors of the Company.
RRPAYMENTs OF LOANS.
The repayment Of such loans
shall be made in monthly payments
Of 10 per cent. on the amouut OBJ.
tanned until completion i made Of
the sum loaned.
SAVING BANK.
TIE Mutual Loan and Trust Com
pany Is empowered BY charter TO dc
i general banking business.
A eafure Of its organization vii
be saving institution which will
receive ,ums Of 81 and not exceed
ing $500. The deposits will be re
celved At 4 per cent, and all per
sons whose deposits shall have beer
left with the Company for twely,
Q2l months will be entitled /.
participate in the division Of Is pc
cent. Of the profits earned BY th,
Company through the use Of de
poslts 10 addition 10 4 per cent 10
terest.
These deposits being strictly loan
TO the Company will not participant
in the profits and privileges Of tn,
regular shareholders.
Interest Is computed selni-annu
ally, on the Ist ~ January and o.
the 1t of July. Dept~ltors draa
ing their deposits will receive ii
terest only 10 date d the bal
yearly computation or interest pr
yious 70 withdrawal. -
i BUILDING LOANS.
The Company not being purely
building society will limit iis opei,
tions in this department 70 assist
]. The erection u houses upon n
property held III the stockbcldri
IL ihe Niddletowu Land and lii
prusemtni ompany.
The lieid here l. vast and ampl
there be,ng ]. demand to-day 4,
over IOUh n.ps which j. likely
treble itself III the near future.
stockholders ii the Mutual Loa
and Trust Company only can d
tain the benefits 81 such loans npo
the following conditions:
. The sum advanced by the Mutu
I Loan and Trust Company for bull
! ing purposes will Be available ups
!. the conditions aDoye specified 4
other ltans. The sum, hpweye
will te limited u two thirds Of q
i eUsl price d the hpuse that 4
/ borrower may Intend 10 erect. ii
IL fph1nituk fnail " guarantee
q first mortgage.
iii The interest rhall Il 0 per cer
4 pr annnm, PAYABLE Ii monthly
stalIments, and the repaymcnts
Tile sum loaned shall be III sums d
i exceeding ) per cent. upon |
Il amount loaned
Active Agents require
J, For further particulars .
4 dress
= Thu MUTUAL L0A
d A Nd TRUST CO.,
n Or