The Republican. [volume] (Oakland, Md.) 1877-current, 1896-04-23
e Maryland Building and Loan AS
SoCiation.

charter has recently been
gAnted chartering the Maryland
BnldiDg and Loan Association of
Garrett county, with the following
named gentlemen of Oakland as Of
fiters Of the affair: President, Col.
A. 81. Sturgiss; 1st vice president,
Mr. Fred. A. Thayer; 2nd vice
president, DR.. Henry W. McComas;
N'ssfetarv, Mr.. James G.. Peddicord;
trpasurer and accountant, Mr.. Scott
Y.Jones; manager, Mr.John Shart
DER general attorney, Mr.. GilmOr
S.S Hamill; superintendent of agen-
cids, Mr.. Thomas j. Peddicord.
aBy glance at the names above
itlwill be seen that the very best
htay9ess men of Oakland are at the
hESSlnf the association and that the
business of the institution will be
c,ar1ucted wholly upon business
panciples.
The object of the Association is
to bring together large number of
persons who will unite their savings
for profitable Investment and by
tins system of cooperation receive
much larger profits from their earn
ings than they could do by individ-
ual effort.
In addition to being an excellent
arrangement for those who wish
simply to invest sums of money
the association will aid its members
in securing homes for themselves by
the payment of such sum monthly
on purchase as they now pay for
rent.
The association is purely cooper
ative and all its members, no matter
where located, stand on precisely
the same footing, There is no dis
tinction between members.
1t is generally conceded that the
monev of poor people put into build
ing and loan associations has been
more honestly administered by the
poor people themselves than has
been any other financial trust in the
country.
In England, the home of the build
ing association, the monthly dues
of members foot up the enormous
sums Of ninety million dollars per
annum. The building association
has stood the that of time and gives
to the investor all that money can
be made to earn without engaging
INA. q is termed speculation.
W association issues two kinds
of stock to-wit; lnstallment and
Paid-up. The shares are one hun
dred dollars each. Upon Install
ment stock an applicant must pay
one dollar per share at the time of
signing his application. After that
beginning with the last Saturday OF
the following month, monthly in
stalment of sixty cents per month
must be paid for a term of eighty
four months. unless the stock is
sooner matured. No more than
eighty four instalIments can be re'
qulred.
This stock is issued in monthly
series and the money paid on il
may be withdrawn after six months
from Che date of subscription witt
six per cent. interest for the average
time. The admission fee cannot
be withdrawn, but member having
withdrawn may by application tC
the home Office secure the same
number of shares without paying ;
membership fee.
Paid-up stock is issued upon th'
full payment Of one hundred dollar.
per share. No admission fee is re
CURED. A seml-annual dividend o
four dollars per share will be paiC
aud Che investment may be with
drawn after twelve months from th
date of subscription.
The lands Of the Association ar
loaned TO members on first mOrtgag
real estate security and the interes
is thereby compounded ever.
month.
Interest and all profits are applied
as dividends on the stock. Wit
economical management the divi
dends will amount to about tiftee'
per cent. pei annum.
No loan will be made on Paid.u
stock.
The association being a HON
company deserves the patronage an,
well wishes Of the people of Oaklan'
and vicinity and instead of sendin
money away from home to som
foreign building association wher
the officers are unknown, that none
can be retained here where it will d
home people the most good.
Unimoroved Lend for sale.
| am authorized by the owner, t
sell the following MiliS.ry Lots
1896, 1437, l442, 1443, 1444, 1449