The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-02-03
NATIONALS AND LOCALS.
National Loan and Saving Union Of
Helena Shows What 1t
Is Doing.
A Statement of the Growth of
tho Above Union From
It's Organization.
The Oficers Say They are In Favor of an
Equitable Law for the Inspection
Of Building Associations.

Equitable Law tOf th0 inspection
OF Building Associations.
To The INDEPENDENT: A few days age
there appeared in your columns an unwar
rantsd and injurious attack on national
building and loan associations under the
guise Of an address by the president
OF tho local league. AND as it WAS
no doubt published to awaken dis
trust In the minds Of the public against the
best form OF building and loan societies, it
ID only fair that some notice should be taken
of it, SO we will ask you to publish simply
our last statement to our stockholders
herewith appended.
Statement showing growth Of National
Loan and Saving Union from the begin
ming. For the part of year ending Dec. 81.
First mortgage loans on real estate Tap
praised cssh value, So, 900l .......,. :. $780, $40 %
Office fixtures, furniture and supplies. l.255 90
Casn ............. .....".".... :. eo VI
$22. AS 81
LIABILITIES.
lnstallment stock dues. $40, 3S7 40
Loans repaid t0 90
T naa piGdE spi ero6ts i AZ ~
pToulb. i,OIo u
S22.i AS 81
For the year ending Dec. 81. 1891:
ASSETS.
First mortgage loans on real estate zap
praised cash value, $l56, 1907 ......... 81, 1851 Q6
Zeal estate tfun titlel ................ 1900 90
Loans on stock certificates. ........ 2,472 90
Office fixtures, furniture and supplies. 1913 So
Eiis and accounts receivable and in
hands of local treasurers ............. 1924 81
s6o.5ls SO
LIABILITIES.
Installment stock dues. ,............. S44, $3.50 SO
Interest bearing 2.osS 90
Bills payable ........... ............. 1000 90
Cash (treasurer) 1,4b1 OS
Undivided profits ,......... ........ 5,l29 81
$780, SIS 50
For the year ending Dec. 81, 1892:
ASSETS.
First mortgage loans on real estate Jap
praised cash value, S2oA. 1l5) ........ .$72,2 73 O6
Loans on stock certificates. .......... 1878 80
Office fxtures. furniture and supplies. 2,O69 g.
Ellis and accounts receivable and in
hands of local treasurers. ............ 1898 80
SS7,3l0 Os
LIABILITIES.
InstslIment stock dues t"A' and
Interest bearing stock ............... a,e4S d
bills payable 5000 90
Undivided profits Eli %
$s7.S1o oS
To THE STOCKHOLDERS: Herewith is sub
mitted TO you the semi annual statement,
also an exhibit Of the growth and progre ss
of the uuion from the beginning Of the
business over two and a half years ago.
We propose with your assistance to build
up a great permanent building and loan
institution in Montana. and place within
the reach OF every man and woman and boy
n.l nd 80 A~l - -
an easy, safe and always ready and salts
factory manner of Investing their savings,
so that they can earn the largest profit con-
sistent with systematic and safe business
methods, and at the same time have it al
ways available for withdrawal In full or
pat, with more than the usual interest.
This union is owned in part by each
shareholder. and he has the same voice in
its management n share in its profits as
any other, to the extent that he is an
owner. No salaries are paid except to the
aecretary, and whatever necessary expense
for Office and work done.
Tn local B. u L. societies. or rather q
few OF their officials, have been assailing
the Nationals, but it is clearly a case of
sour grapes, ss the general societies have
than the locals, and the locals are now
initiating the improved methods of the Ne
~tionals, although it il like NORWOOD foT
them to admit it. and they continue to
abuse them with hearty good will and with
little regard for truth. The general socis-
ties, or Nationals, are as much of an i'm
provement on the old locals az an electric
light is to q tallow dip; 30 the Nationals 90
on serensly prospecting ell over the county,
drawing the ablest and best men into their
ranks. As an illustration. take the little
city of Bloomington. H.. not much larger
than Helena. yet il has nine National asso-
Citations and three locals; aud into that
small center is Ioared fom the localities
around $125,O0 per month. think of the
advantages to Helena and Montana if we
had one-half of thas to help our PEOPLE to
homes of their own.
The vice. presidsnt-elect of the United
States, Adlai Z. Stevenson. is the founder
and honored head of one of the PRINCIPAL
Nationals and has done much to make
bloomington the prosperous city it is;
some OF our local vllllGers of Helena might
sec from his noble example in building up
his town and its institutions now pitiable
their conduct is by contrast, We are glad
80 say we wish the "locals" we'll; they need
not hurt US, nor We them; on the contrary
each will. or should help the other. There
are localities where locals are ineffective. or
do not exist and where our Union has
helped and 10 helping St iyiug people to
homes of their own, which they would not
get if they waited for locals.
The Nationals have been the first to ask
for state supervision, which has frequently
been opposed by the locals in the older
states, except when they can use it to
harass the Nationals and prevent them do
ing business. We hope before our next
statement to you that our legislature will
have enacted a good. Just and equitable law
providing for tue inspection OF Building
and Loan associatlons. both National and
local, thus giving each association II tnir ex-
animation, and ths standing it is entitled
10 and obyiating such attacks ns the Less
scruIulous ones occasionally make for the
purpose of i%njering Others bsture the pub
lie.
Congratulatingy you on she success of your
Union thus far. and bespeaking an active
interest in its prosperity both for vou.-
selves, your friends and your nelghbors.
National Loan and @aving union,
JoHN b. WILSON, President,
VIM. +. WHrrAKEs, Sec etary,
L. w. KNIGHT, Dr., Treasurer.
Helena, Mont.
weeping reductions in all dress goods at The
Bee hive this week. See adv.
Full line OF yarns, Spanish, German knitting,
sa1ony and worsteds at Butcher IL brailey's, los
Broadway.