The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-12-15
PLACES TO PUT MONEY
BUILDING AND LOAN ASSOCIATIONS
OF THIS CITY PROSPEROUS.
some of the Leading Ones and the
Various Inducements They
OGer Investors.

giving stock in these associations to their
relatives as Christmas presents
The Statehouse Building Association Is
one OF the pioneers. having been organized
March p. 1886. but its present perfected
plan has been in use since April. 1884, when
the present board Of directors was elected.
At the time OF reorga AVIATION the associa-
ton took the advanced position Of waving
fines on Investment stock when members
were delinquent on account OF sickness or
loss of employment. Calamity howlers pre-
dicted disaster, but the directors were men
Of experience and knew the plan was equi-
table. They proposed to give the unfortu-
nate stakeholder an opportunity to hold
his hard-earned savings. The wisdom of
their action has long since been proven and
other associations have as a result adopted
the plan in a more or less modified form.
No membership fee is charged on any stock
and its Withdrawals are as liberal as any
OF It's competitors. being paid on demand.
The stock is nonforfeifabIe for any cause,
and a delinquent member can take up his
stock at any time, which Is also a feature
introduced by this association. The July
dividend on prepaid stock In this associa-
ton was IA per cent. and the member has
an option OF drawing in cash s per cent.
from these credited profits. During the six
months ending Oct 1 the new business
written averaged three thousand shares a
month. and In the same time l2 strong
local branches were organized. The State
house Building Association enjoys the dis
tinction OF being the only State associa-
ton that has matured installment stock.
John s. Lazarus Is president and II. T.
Hackedorn Is the secretary. The State
house Dime Association, although a sepa-
OF the Statehouse Building Association,
having the same directors and officers.
This association Issues nothing but ~instali-
mGnf stock the nGVmGnfl Tnnn which =
10 cents a share per week. Ii has many of
the best features Of the parent association.
poorer classes OF people who could make
only a small weekly payment on stock, and
Its success has demonstrated beyond a
doubt how well its mission has been accom-
plished-
The Hartford Saving and Investment
Company is one OF sne most conservative
associations In the city: IL does not seek for
mere volume OF business, but considers the
safety Of the money loaned the most i'm
have had a large experience in indianapolis
real estate, and carefully examine all appli-
cations for loans Especial care is taken
10 explain to borrowers what the cost of
the loan viii be, so that no dissatisfaction
IS likely to arise. Loans are being made at
greatly reduced rates, and the funds of the
company always kept busy. The Hartford
has paid dividends at the rate of s per cent.
per annum-
The Star Savings and Loan Association Is
one OF the Oldest associations established in
this city, having now passed through its
eleventh year, with success which is best
shown by the results. some Of which are
three shares or stock have matured during
the last two years, amounting to $4,000;
eighty-three shares was SIS, $3.50; the profit
gained for shareholders. S7,9l5.50. The capt.
s c1ay stock OF the star is faooo,ooo: During the
cent profit annually to the stockholders.
This profit net, after paying expenses. with
cut any extra assessment for expenses. The
TSGuIf has 6aGn VERY QrQfffVfnO fn hnrrnU-
ers as well as investors. as the dividends, in
which they participate equally. has made
a. straight loans. The best r~ecommenda-
fion that an association can have Is TO have
the recommendation OF present sharehold-
The Mutual Home and Savings Associa-
ton Is one OF the largest, oldest and most
successful local associations in the city. 1t
has made loans to date Of over $4,000 and
mas paid Ia dividends to its stockholders
same as In any other business. There is
no loss to stockholders In withdrawing, as
Withdrawals are paid In full. The dividend
on paid-up stock has always been 8 per
rate of p per cent. The directors are all
well as knowledge in association matters.
The secretary, W. A. Rhodes. has been con-
nected with associations for over twenty
OF his experience in the Mutual, and it is
modelled after Its namesake. one Of the larg-
90 iii eQCCC5cIQl d@6QClallOUS IN lie
United States, the Mutual Home and Saw
fngs Association. OF Dayton. o.
The Equitable Savings and Loan Associa-
ton established In indianapolis on the per-
petual plan. The Equitable has no ex-
transfer Zee. and is modern and co aae ao
tive In all It's methods. The net earnings OF
cent. I per annUm d for the ave eisst wears "a so Of p ,fs
existence. One point OF conservatism shown
by this association Is the fact that no
tables assets and liabilities Oct;
s.tatd l@S; .ecur A~ssst'-s ss1 sss.s 20, ETC., collateral Ssfsi
loans. $3.50: furniture and fix
lures. S.54s@; FIetcher's Bank, a,2T.@;
bllities-Undivided profits. sc.ss7.S: dues.
s7.s2z2; credited dividends, N2.S73l2; paid
s S5Sa $40. sria" EaS 1aai has a s Strong .0ii list
OF directors, including some OF Indianapo-
lis,s most influential citizens. The general
So North Delaware street, is one OF the
best arranged offices N the city.
The Commercial Building and Loan Asso-
citation, home Office Rooms 41e-41s Indiana
Trust Building. Is managed under the super
vision OF the Auditor OF State. and State
lions. The authorized capital OF the Com
mercial is S2,000,Oo. The capital stock OF
this associa ton Is issued in shares of 400
each and divided into three classes. known
paid-up stock. The moathly payments in the
s sssescs slssSss o eTs q s sS cs sDssia an feS q ssnt Il
this association is It's 3 per cent. dividend
stock. The Commercial brings forth some
or its strong points In the following: II
pays full earnings on withdrawal, certifi-
cate payments are limited, the shares are
nonforfeitable, the stock is nontaxable,
profits are credited sem~i-annually, officers
aud agents OF the association are under
ample bond. TO loans are made on question
negotiable first mortgages, such mortgages
never exceeding one-balf OF the cost value
OF the security. Each member has a pro
rata share in all securities held by the
association Ex-Speaker JuStus G.. Adams
IS one of the organizers OF this associa-
ton.
The Mechanics Mutual Savings and Loan
and its first shares were written when peo-
ole were s~Quaring their accounts with other
Industries. II is seventeen months old and
has loaned out nearly $20o.0Oo on approved
real estate loans. All loans are appraised
by sworn statements OF disinterested share
holders. then by written statements or
members OF the board Of directors; then
by members OF the execute board. The
oficers and executive board OF the asso-
citation are men or business ability. who
have had long experience In handling the
affairs OF others. The officers are: Robert
N. Lamb. president; William Garstang, vice
president: William II. Dye, secretary. An
drew HAGEN, treasurer.
The Fraterna. Buckingham Association
Of indianapolis although not as long estab-
ished as SONS others. has been able. by
10 attain such standing as 10 place II among
the largest and best business enterprises OF
the State in the building and loan business.
There are now two assOciati0nS-No. ! was