The record-union., 1896-09-30

make money It must keep its capital
actively employed. This means that it
must loan cut its funds as rapidly as
they accumulate. The association Is
provided with such safeguards, both In
It's bylaws and in the laws of the
State, that such a thing as dangerous
run upon it by panic-stricken stock
holders is out Of the question. No as
sociation is obliged to liquidate its
stock more rapidly than can be done by
an appropriation of one-half Of its cur
rent receipts therefor AS every asso-
citation of considerable size has large
monthly income of cash, it generally
happens that stockholders desiring to
withdraw are quickly accommodated.
AT the same time, should the applica-
tons exceed the capacity of the associ-
alton for current liquidation, it means
only delay of a few months, at the
most, to any single withdrawing MEM
Der, and meanwhile the association, if
solvent, cannot be crowded into a cor
ner and forced to close its doors.
ASSETS AND LIABILITIES.
The building and loan associations of
California have gross assets amount
ing to sol .47O,309 Sc; a decrease from
preceding years report of $3O,21O 10.
The principal item of assets is in out
standing loans. which amount to $1S,-
S4o.2S4 81, for which the security, in
real estate mortgages and hypothe-
Gated stock, amounts to $50. 7O3, 2333 81.
The assets in detail are:
Loans SIS, ,S432S4 g
Arrearages.. -. -. .. 504O33 62
SaSh on hand. 545374 2S
NeSii estate I,Z0IZ4Z x
Other assets ............. 326375 Al
AOee1i etSsoClS .$Zl,tiOoOo co
The associations hold capital invested
by members, $14 ,191, ,923 80; accrued
earnings. $4,53S,472 3S; reserve profits
and unearned premiums, 5000, 1872 90;
advances, $46,O24 So; making
Total liabilities to stock
Liabilities for overdrafts, -'''7@'00
bills payable, etc. c......... 2.0S4. 756 %
lotai liabilities .SZl, ,4iUoO5 %
COLLECTIONS.
During the past fiscal year the asso-
Citations have collected from members
and depositors:
In dues and paid-up stock. -. SO, ,6s4, 500 IL
In premiums and interest. 80. 1,115,907 0S
In loans repaid. ............ 4,1S0,227 II
In fees and fines. ........ 43076 40
In deposits and other receipts 2,l94,II "
Total receipts from mem
bers and depositors. .$11, ,STS 5S7 29
To this add:
Balance brought
Borrowed orrp on SSoS'o69 %
overdrafts and
bills payable. 1,247.136 % 49, -
Total receipts .s13, 4s4. 1872 "a
The aggregate disbursements during
the same time have been:
Loans So, ,327, 1872 81
Dues refunded on Cancelled
and matured stock ........ 1866. 5e2 40
Profits paid on Cancelled and
matured stock ............. 1277, 151 81
Paid deposits ................ 1,643, 588 46
Expenses and taxes ~ SOC, ,260 80
Paid overdrafts and bills pay
able ........ 1,13O,544 %
Paid interest on borrowed
money .................... 11o,165 AZ
Advances to members, and
other outgo o................ LOT 1863 IL
Total disbursements ....... .S12, ,939, AIS &c
Leaving a balance Of cash on hand Of
$545,374 %.
The aggregate net profits Of all asso-
Citations for the fiscal year were S1.370,
TAP %
The membership Of building and loan
associations is reported as: Male, "a
039; female, 1907; societies, IA; total
81, 100 The number of borrowing
members is S.742.
The average loan per borrower Is g.
155 4S The average investment of
stockholders is:
Dues paid in. s455 80
Accrued earnings 40 %