The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1892-12-31
OWN YOUR HOME.
Hints to People of Frugallty and
Forethought.

The Pioneer Building and Loan
Association of Hawaii has been in
existence two years and half, dur
which time it has placed fifty-four
loans, amounting to siXty-two thOus-
and seven hundred and ninety dol
lars OF these loans, twenty-three
have been made for the purpose of
and acquiring new homes.
There are at present nineteen
hundred and thirty and half shares
outstanding, divided among two
hundred and ten stockholders.
A new series has been issued every
six months, five series in all, and in
January a sixth series will be issued,
with a most favorable outlook
Notwithstanding the great exodus
of mechanics and wage-earners,
many of them members of the asso-
citation; and Notwithstanding the
business depression caused by
the Mckinley bill, the p. b. & l..
Association has prospered, and for
the past term of six months will prob
ably add a credit of 8 percent earn
ings to the value of its stock.
Subscription lists are now open for
the new series to be issued next
month and may be found in the
hands of Theo. f, Lansing, j, 6.
Rothwell and a. V. Gear.
The following from The Home
Builder, which is applicable to the
p. B. & l.. A. of Hawaii, will explain
why you, if not already a stockhold-
er. should become one:
Join a local building and loan
association.
"Why? Because
"A building and loan association
is the simplest and most profitable
form of cooperation known.
''lts object is to enable you to be-
come your own landlord ON first
capital of few dollars. or to invest
sums of from a dollar week up in
way that will insure more profit
than savings banks or any other
form of investment can pay.
"Any one may become a member
children being represented by
their guardians or trustees. Women
are especially welcome.
you can buy stock in the associa-
ton generally by an installment
payment of one dollar a month for
each share-shares having nominal
value of 5000.
"Whenever the monthly payments
by the members, together with the
profits earned by the investment of
the moneys, equal the full value of
the stock-supposing it to be $500
the stock is said to be 'matured.'
The investing member then gets
5000 for each share of stock he holds,
and the borrowing member gets a
satisfaction of the mortgage which
the association holds against him,
leaving him the owner of his own
home.
"If the stock matured inside of ten
years or l2O months, the investing
member would have a credit of less
than $40 in payments made, and
| the difference between that and the
maturity value of his stock would
represent the profits on his invest.
ment-very handsome profits ii
must be conceded.
| l. hc IDpIloNtls iiil's NohlN'
have become a home-owner by easy
stages-by regular monthly install,
ments of principal and interest that
in the aggregate would make the
loan cost him little more than hi:
monthly rent and less than if he got
it from a savings bank, or other
capitalized concern, if indeed, il
were possible for him to get loan
from such sources upon the security
that a building association will ac
cept.
"Your money III a good building
association is even safer than a SAT,
deposit vault could keep it.
"The Treasurer is a bonded officer
So is the Secretary. Proper safe
guards are placed about withdraw
ing money from bank.
Just as soon as il begins to ac
cumulate it is taken ont and Loaned
to members ON improved real estat,
that can't fly or vanish, nor sail OF
to Canada. The constant compound
ing of interest ON these loans is wha
makes the thing so profitable.
members are admitted to al
meetings of the Board Of Manage
ment.
"You can withdraw your money a
any time, and receive the whole Of j
together with a share of the profit
If you draw out after a few months.