Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1894-02-21
Charles To,cn Branch Of the "COlunt-
btan Building Dc Loan association

Local Branch In our town, and their efforts
have been crowned with very decided sue
cess. They have sold nearly five hundred
shares, and have gotten together Board
that will meet with the approval and en-
dorsement of the entire community, all of
them are we'll known and successful bust
ness men, and their names are guarantee
of careful and conservative administration
of the Company's affairs at this point. An
examination of the prospectus" just print
ed for the Charles Town Branch, will con-
vince the investing public that they would
do well to read and digest fully the contents,
and make comparisons with those of other
similar institutions.
Messrs Thaw and Crutch6eld have made
a very favorable impression upon our peo-
pie, and we are glad to welcome such peo-
pie in our midst-while they are ever
ready to press their business in conyin-
cling and matter of fact manner, they have
invariably had a good word to say of their
competitors working in this and other fields,
and we are glad to note and record such n
departure in any line of business. and COM
mend such course, and give it our endorse
ment.
The Officers OF the Columbian" Building
and Loan Association who have charge Of
the management of the Company's affairs
in Richmond are men of experience in bus
ness and financial institutions and have the
confidence aud esteem of the community,
their well known reputation will convince
the most skeptical that the affairs of the
Company will be properly looked after
There seems to be an impression among
our people that in their investments in Ma
lional Companies they are sending away
funds that should be kept here-we beg to
disabase this impression among our people,
by stating that we have been shown letter
addressed to Messrs Thaw and Crutch6eld
giving the Local Board authority to lend
at once $40 600 or more as the needs Of the
Stockholders may require.
II is also matter of fact, that parties in
vesting in the columbian" paid up or in
stallment stock will have returned to them
at maturity about double the amount origi-
nally invested by them, and this accumu.
lation of funds is returned into circulation
along with the loans made by the Company
for building purposes, the latter giving
work to mechanics and merchants and
assists very materially in building up our
town. We understand that our well known
and progressive friend Mr.. Geo. S. Eyster,
the paper manufacturer, has after most
thorough investigation invested very large.
ly in the stock of the columbian" and
gives it and its officers his endorsement,
and this. and the fact of his name being
among the list of officers, should encourage
others to follow in his footsteps, and cause
them TO think better of all such institutions.
Building and Loan Companies have been
in existence in this country for about sixty
wears. and in that time their members have
become owners of real estate and homes to
the value of $4,000, 100000, and strange as
it may appear, it is nevertheless a fact, in
all these sixty years, there has never been
failure of single one of these associations
is not this a good record and one to thor
oughly convince the investing public of its
stability aud safety?
Building associations are not merely good
Investments for the shareholders, but a
Godsend TO the poor man who desires to
become the owner of home.
Stop paying rent, and investigate the
plans of the Columbian Building and Loan
Association. People who do not under
stand the loan feature of Building and Loan
Associations, have an idea that in borrow
ing money, they are forced to pay exorbi
tant rates of interest-to the contrary 1t Is
more reasonable and convenient than any
other method of securing and repaying a
loan.
First-You are permitted to borrow for a
continuous period of seven years aud pay
back both principal and interest in Install
ments, or small payments.
Second-As an example, if you should
desire a loan of 81, 900 in any bank or any
other like institution for term of seven
wears. at fixed rate of 6 per cent, per
annum. your interest would be $50 per
annum, or $420 for the seven years, the
same amount for SINE time borrowed in
the columbian" would only cost 1918, a
difference in favor of the Columbian" of
SlO2 ia actual interest paid.
Third.-In borrowing from the "Colum-
bian" your interest is reduced to the mini
mum by the accumulation of dividends on
the stock carried with the loan
Fourth-The columbian" ouly requires
one share of stock to be carried for each
500 borrowed while many of the other
associations require two shares for a like
amount, which makes difference in inter-
est in favor of a borrow of SOB on each
81 goo, who secures his loan in the "Colum-
bian."
Fihh-Stockholders after paying on their
stock for one year, will be allowed to bor-
row from the Columbian" on their stock to
the extent of 80 per cent of amounts paid
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