The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-01-05
BUILDING ASSOCIATIONS.
The Definite Contract Building nmd
1,oEn Association

December 81, 1883. Virginia had eighty
three building and Loan Associations
with $I,iI4 I0S of assets December 81
1885. just two years later. there is one
Association In the state with $2.3O0. 900
assets or nearly one-third as much as
the total assets of all Virginia ASsa-
cations two years ago. There are
three Associations In the state Dccem-
bcl' 81. 1898. with half as much assets
as were held by the entire ciGhty-t three
associations December 5lSt. 1898
This record of growth surpas:cs that
of any other class OF institutions Of
whatever nature.
Fifteen. years ago building and loan
associations We're looked upon as fair
weather institutions" but VIXEN the
crash OF 1893 came and nntional banks
were suspendinE by The score when
C:hCr classes of fnanc!al institutions
were winding up in insolvency. when
unc-quarter OF the total mileage OF rail
way systems In the United States went
into receivers hands. thcn 1t was that
Building and Loan Associations demon
Stratcd their power 10 stand During
that crash not single national BALD
ing and loan association with n rcputa-
Bile management Suspended or went
into a receivers hands. They gained
in vllumc OF business and assets dur
ing the most oppressive part OF the
panic one such as inc!atjon organized
during the worst part Cr That money
strtngency has built assets OF uver
Sl,nuU.Gnu In the TWO years since that
fearful August OF 1899.
The strides in Building ana Loan
business during the past six months
have been almost amazing. one NSso-
c!atlnn has in that period jumped from
about one ana onc-haif millions In
over three millions Of assets There are
twcntys"vcn national huildinr and loan
associations In the United states. with
over 81 .0n0. 600 assets. the largest one
having $5,+G0.079
Norfolk has been sinEuia,ly backward
In supporting national Nnil1inc ANA loan
associations with Home Management
and Home Office There are prob
ably fifty national associations
from other cities doing business here
having local boards. ranging in size
from $50 to 25n0 shares "A total agErc-
gate of possibly 210a0 sharcs-this
means an investment possibly s15.-
600 per month. or slS0.ooD per year.
These foreign associations are loaninr
money in Norfolk, and ought to he
supported and encourlgcl-but notwith-
standing all this. the query seems per
tinrnt, why may no; Il large national
building and loan association be built
in Norfolk. Her business men are sa-
g1cInus. they are prudent and careful
why not cntrnst 10 them the care OF your
savings?
The Definite Contract Building and
Loan Ass citation has been organized
with the idea of developing into such
an Nhlsotl as Will lllINt IL IL matter
OF rriic - the city of Norfolk. lis III
rectory numbers some Of the best
and most substantial men IF this city.
such men as j. w. Perry. NJ. Gilcnnan.
'J. T. Williams Il. Nj Wilkinson. II. G.
Byrd, w NJ. Parr. and w w. Salt are
a sufficient guarantee OF the Integrity
of business managemcnt.
Then there are other reasons why you
should think OF the Definite Contract
Building and Loan Association.
. tf,,,s. I,t,
nar docs /, lSsu" any limited" pay
mont shares. 1t gives YOU an absolutely
definite contract
Second. Because ii never charges any
withdrawal fecs"-yNu can always get
back every cent you have paid in and
after one year get interest.
Third. Because it has no Expense
fund" whatcvcr-evcry penny you put
in is loaned out and kept loaned ont
on first mort gage.
Fourth II has the lowest loan rate
Of any Z ISOLATION in the South and for
that reason can get the best securities
in the rke;-consequenily you know
Your money IS safe.
The office OF the Definite Con;rac;
Building and Loan Association is at
No i2A Main street, II YOU are an cx-
perienced solicitor and want Il good con
tract and territory You can get il, If
You hav" money to invest call and in
vestigatc our plaas. If YOU want to
borrow como ana see us. If YOU cannot
call. then write.
DEFINITE. CONTRACT BUILDING
AND LOAN ASSOCIATION.
l2+ Main street,
Telephone Exchange Building
". &. =. Notes,