The Lake Charles echo., 1892-12-02
New South Building ANA Hsoam
AasUc6nufpm


Alta meeting of tho shareholders Of Che New
south Buildiug and Loan Association, held at this
place Saturday Nov 9eth is02 tho following
gentlemen wore elected aa Board Of Directors for
the ensuing year Ghas, Banker louis Crager,
Jno. H. Poe Sol Bloch. J. E. LaBesae, Walter
Mooling, and r n George
The following correspondence was received
from the home offices
NEW ORLEANS, La, Nov "a, 1892
To the President, Board Of DireetOrs and Share.
holders Of The New South Building AID Loan
Association, Lake Charles, La:
We take tho opportunity afforded Us by this
N eetng for the purpose Of elerting q Board Of
- Teet0EB TO serve for the ensuing year to con.
gratglate the board upon the progress made dur
ing the year ust closed You will see by the
facts and figures herewith submitted TO you, that
our business In your city has been steadily in,
creasiugi IN tact we have tried to keep pace with
the rapid improvement shown everywhere ono
may turn his eye in Lake Charles. Comfortable
reaidsneea and handsome brick stores have been
erected for our members and We trust that the
good work IN your midst has but Just begun. We
OeleVe that with the thorough understanding now
existing between the Local Board and cur Home
board that the progress In the next twelve months
shoHla DC even more phenominal than t5 has been
In August, 1891, we had thirty individual mem,
bers in Lake Charles, hOldiog 400 shares of stock
ahd only one loan of 10000 made August 2lst,
now siSty-siX individual members, holding lO4s
shares Of stock, or an Increase of o per cent in
the members and l50 per cent in the number Of
shares held. From une loan of 800 90 in force at
the end OF August, 1891, we have today, In Lake
ChaFles seventeen loans aggTegating S24 800 90 an
increase OF something over 5000 per cent, Our col
leGtiohS have increased from 1901, 10 to S729s0 a
month, an increase Of about $50 per cent. This
you Will readily see shows An enormous and steady
growth which has been due to the earnest efforts
OF your President and the Board of Directors,
va lTllpa Il fn.r Il.
advance the interests OF our members in Lake
Charles Every loan made Is secured by property
worm donble the amount OF the loan, and too
much praise cannot be given to the gentlemen of
the directory, who have served us faithfully and
whose labOTs have borne such excellent fruit not
only for the association but also ,6r yoar city
The total amount received for the FIRST remit.
lance to date is $9075.5li thus you will see We
have loaned very nearly $500 for every one re-
oeiVed from Lake Charles This record we are
proud Of and II is one that can be maintained,
WthOut trouble II the directors to be selected by
you at this meeting will go into the work with
the same discrimination and conservative spirit
that has characterized the board about to retire.
We think it IL due 10 your Mr. PaVia the sec
FetaTy ana treasurer, TO say that out of the 100
boards in operation in our association that in no
one have we had an officer more efficient more
prompt or more satisfactory tn every respect than
MT Favia II Is matter of deep regret to us
that he was forced to resign his position, We
trust however that his retirement Il one Of short
duration, and that when he may return to Lake
Charles fully restored to health, you may see fit
to once more put into his hands the finances of
your board. He has been an efficient worker and
has personally sent us more than 800 shares of
stock, secured by his Intelligent explanation of
our plans and objects.
In conclusion, we cannot wish better things for
the new board than that they should equal the
retiring board so ably and judiciouslY presided
over by your retiring president.
Very truly,
BOARD OF DIRECTORS NEW SOUTH BUILD
ING AND LOAN ASSOCIATION.
Mr. p, E. Chayanne, Secretary, will explain
fully the plans of the Association to those wishing
to become members,