The Durham recorder. [volume] (Durham, N.C.) 1879-19??, 1891-02-25
! Of the Company may see &. to

70, Nf.'sP's''.' ICY Sft, flal O
stipnlatc.
BY this means any che desiring
to purchase d lot can acquire one Oh
tasy terms. and profit BY IN ad
eance IN valne to resell |,
LOANS.
The Mutual loan and trust Com
pany wiil-adyance money upon real
estate guaranteed by first mortgage
at . per cent. per annum.
This interest shall be paid month
lY, and the revenue afforded BY ia
compromising may go intp the prof
il fund, (see below) or utilize ID
inciease the loaning capacity Of the
Company as the directors MAJ deem
to be its best interest. These loans
will be limited 10 tie 80. kholders
Of the Company ami il lie made
upon the following ,tIt lp,ns.
A certain sum re. ,l.nrlsled by
the business manager, and - ,.royed
BY an advisory board. sinai! be set
aside monthly for this purpose. and
may be obtained BY the holder 81
fonr az paid up shares ii he Mu-
tual Loan and Trust Company. No
applicant can require more than
500 upon every. fonr O. shares
held hv himself.
Loans OIL real state include The
advance of money to holders II lofs
IN the MiddletnNu L md and I'M
lprovemrnt company, who shall be
entitled on subscription in,l.e above
con iitions to borrow sum not .r-
ceeding 1925 and not less than s:,,l
IN each lot held by th,m il. nc
said Company.
| his maximum and minimam
shall hold good for twelve (12l
montiis 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-
ton of that time, providing the
current prices of lots shall have
augmented in value.
1 The business manager Of the Com
1 pany may reject the applica ion for
), a loan If such rejection be IN the
) interests of the company and Is
! ratified BY the advisory board and
/. the directors Of the Company.
REPAyMENTs OF LOANS.
y The repayment Of sncll loans
q shall be made in monthly payments
! OF lO per cent. on the amauat OBJ.
2 tanned until completion is made Of
y the sum loaned.
. SAVING BANK.
ID The Mutual Loan and Trust Com.
pany Is empowered by charter 10 "a
E. a general banking business.
A feature Of ITS organization vii
il be n saving institution which vii
: receive eums of 81 and not exceed
ID ing $500. The deposits will Be re.
celved at 4 per cent, and all per
be sons whose deposits shall have beer
left with the Company for twely.
81 (i2) months Will be entitled L
participate in the division Of 25 De
~ cent of the profits earned by III,
Is, company through the use Of de
posts in addition to 4 per cent in
an terest.
We These deposits being strictly loan
ed to the Company will not participant
ots in the profits and privileges Of th
Nv regular shareholders.
Interest is computed senlI-annt
I'VE ally, on the lst of January and J
the LIST of July. Deposltors draw
ith ing their deposits will receive ii
rs. terest only to date of the hal
, is yearly computation of interest pre-
gious 10 withdrawal.
III BUILDING LOANS.
NJ The Company not being purely
building society will limit its opei,
, tons in this department TO assist !
INT the erection OF houses upon h
nj property held By the stoekholde,
I" of the Mlddletown Land and In
-, proyement Company.
ID The field here is vast and ampl
csc there being d demand TODAY {,
ose over l0Ohouses which is likely
na treble itself in the near future.
ur- Stockholders in the Mutual Los
aud Trust Company only can 81
tain the benefits Of such loans upo
oi the following conditions:
=, The sum advanced by the Mutu
IN, Loan and Trust Company for bull
OF ing purposes will be available upC
Ine the conditions above specified r
81 other leans. The sum, huweye
will be limited to two-thirds Of 4
cost price of the house that Ii
irn borrower may intend to erect. a
gle It's repayment shall be guarante,
by tirst mortgage.
., The interest shall be Q per CO,
lal per anuum, payable in monthly
ana stallnents, aud the repayments
the sum loaned shall be in sums Il
exceeding D per cent. upon /
OF amount loaned.
Of Active Agents require,
For further particulars d,
40, dress
zen THE MUTUAL LOA
see GlMfa mnrrcm r,n