The Durham recorder. [volume] (Durham, N.C.) 1879-19??, 1891-03-11

| To purchase alot can acquire one on
tasy terms, and profit by an adj
eance in value To resell ii.
LOANS.
The Mutual Loan and Trust Com
pany will advance money upon real
estate guaranteed by first mortgage
alto per cent. per annum.
This interest shall be paid month
LIZ, and the revenue afforded by ia
compromising may 20 into the prof.
it fund, (see below or utilized to
increase the loaning capacity of the
Company as the directors may deem
to BIO its best interest. These loans
willbe,llmited to the stockholders
Of the Company, and will be made
upon the following conditions.
A certain sum recommended BY
the business manager, and approved
BY nm advisory board. shall be set
aside monthly for this purpose, and
may be obtained by the holder Of
four "a paid up shares in the Mu-
tnal Loan and Trust Company. No
applicant can require more than
500 upon every four "a shares
held BY himself.
Loans on real estate include the
advance OF money to holders Of lots
lnthe Middletown Land and I'M
proyement Company, who shall BE-
entitled on subscription to the above
conditions TO borrow sam not en-
ceeding Sl25 and not less than $50
on each lot held by them in the
said Company.
This maximum and minimam
shall hold good for twelve (I2)
months from the organization Of
the Mutual Loan aud Trust CONF
pany, but may afterwards be in.
creased by the resolution OF the
board OF directors after the erpira-
ton Of that time, providing the
current prices of lots shall have
augmented III ya'ue.
The business manager OF the Com
panY may reject the application for
a loan if such rejection be in The
interests Of the Company and 4
ratified by the ADVISORY board and
the directors Of the Company.
REPAYMENTs OF LOANS.
The repayment Of such loans
shall be made in monthly payments
Of 10 per cent. on the amount OBJ.
tanned until completion is made Of
the sum loaned.
SAVING BaSK.
The Mutual Loan and Trust COM
panY is empowered By charter 10 do
i general banking business.
A feature Of its organization will
be saving Institution which win
receive sums Of 81 and not exceed
log $500. The deposits will be re-
celsed IL 1 per cent, and all per
sons whose deposits shall have been
left with the Company for twelve
Q2) months will Be entitled 10
participate in the division Of Is per
cent. Of the profits earned BY the
Company through the use Of de.
posts IN addition 70 I per cent in
terest.
These deposits being strictly loans
% the Company viii not participate
in the profits and privileges Of the
regular shareholders. A.
Interest Il computed seni-annu-
ally, on the lst Of January and on
the lst of July. DeposItors draw
ing their deposits will receive in
tefest only 10 date Of the half
yearly computation Of interest pre-
Yious 10 withdrawal.
BUILDING LOANS.
The Company not being purelya
building society will limit its opera
tions IN this department To assist in
the erection OF houses upon the
property beld by the stockholders
Of The MIddIetown Land and I'm
prosement Company.
The field here i yast and ample,
there being = demand to-day for
over l00huusrs which Is likely 10
treble itself ia the near future.
Stockholders In the Mutual Loan
and Trust Company only can OBJ
tain the benefits Of such loans upon
The following conditions: ri
The sum advanced BY the Mutua
Loan and Trust Company for build
ing purposes will W available upon
the conditions above specified for
other leans. The sum, however,
WILDE limited 70 two-thirds OF the
cost price Of the house that The
borrower may intend 70 erect, and
it, repayment shall be guaranteed
! q frsl mortgage.
The intereat shall u 0 per cent
per annnm, payable in monthly in
stallments, anl the repayments on
The sum loaned shall be in sums not
excqding 3 per cent upon the
amount loaned.
Active Agents required.
For further particulars adj
dress
TIL, MUTUAL. LOAN
Or