The state republican. (Jefferson City, Mo.) 1871-1896, 1896-05-07

IL There ARE, however, many nationt
associations in the various states tina
=, have accumulated large resources an
their public exhibits indicate prosper
ity. No national" association chart
-, cred in another state is doing bushes
in this state the law requires them t
ID obtain a permit from the stNt}Ab hin
9fo5, 80 in approved securities. AL
n building and loan associations doin,
business in Missouri, are home comma
mics, but no deposit is required of
home company, as some suppose.
Nationals in Missouri
or the $50 associations, more or less,
IN this state, about twenty-five are
nationals. The loss by failures had
been greater from the locals ever
since the nationals" began, but OF
course the aggregate of business done
by the locals is larger.
The very bad failures of the "na-
tlonals' under supervision were of as.
sociations of small ~resources.
Receiverships are of public notoriety.
L will note the "nationals'' the
supervisor has proceeded against, with
approximate total loss and per centage
of loss on each dollar invested.
Security No. Q, st. Louis total La
bilities only a few thousand dollars :;
per cent. of loss total.
National Guarantee Saving and In.
vestment Co., st. Louis total liabili-
ties about S22, 600; per cent. of loss
from so to 80.
trust Fund Loan Co, st. Louis total
loss a few thousand dollars per cent.
OF loss, can't be figured at present.
Interstate, Carthage Mutual agree.
ment between the supervisor and the
officers; the officers will probably
volunteer to lose all they have invested,
II SO, the other members will be paid
in full total liabilities over 800. 900.
Metropolis, Kansas City liabilities
over $50, 900; per cent. of loss so to 90.
The st. Louis Loan and Investment
Co, by the advice of the supervisor
was turned over to the Aetna Loan ca |
which company is trying, and will sue.
coed, in having a majority of the stock
transferred to it, and will pay all who
prefer not to transfer at the rate of
sixty cents on the dollar less two ner
cent of the par value of the stock, the
withdrawal fee. The liabilities of
the st. Louis Loan and Invest.
ment Co. are over 5000, 900. 1t is
altogether likely that those who trans.
Ter VIII do well as the profit on the
Withdrawals goes to the credit of the
persistent members.
quite a number of the "~nationols"
have esources of 5000, 900, $500. 600.
SlOO, 900, 5000, 900 and up to 5000. 900 or
more. Others have from S75, 600 to
Sl5o, 600, while there are yet others
with comparatively small resources.
Why success is not greater and more
uniform:
/ am now in the domain of s%pecula.
ton, though my deductions to me seem
reasonable. Most of the first promo.
tiers of nationals" were visionary
men who had never made successes :
men who were plausible but with no
financial ability. They promised what
gullible wanted and caught them.
Is marvellous how men try to get
something for less than value; who
to reap where they have not
'own. This class always bite, always 1
AXE chances; in the end always lose. /
Changes: {
The class of promoters described are '
BENG weeded out, men of character I
ma ability are taking their places, and I
Who will run the business successfully '
n close it out if convinced that it cam S
rot be done. Not all are SO Differed. !
nut it is now the rule, in a little while s
he Others must go the road of their $
prototypes, or change for the better.
Inquiries: =
Perhaps more than ninety nine out q
t every 100 inquiries are about ma. n
associations. The best business
len in communities ask questions that h
me, proving that while their
eneral information may be good their
inception of national associations is
mazingly crude. l have read papers F
n various phases, some of which have =,
cen published. l have availed the ~
nreau of the columns rendered by the a
'etropolitan press in discussing other N
oints / have dictated hundreds of a.
tiers in answer to questions, and yet =.
10 same things are asked over and -
'er again. is
No excuse for lack of information al
! don't suppose that one investor in
le thousand reads and understands
e bylaws before investing. Often an
weston applies for Withdrawals and
the supervisor expressing sur. tn
Use that only 80 per cent, more or
IS, of his payments went to the "loan
nd and the balance to the Expense pc
Many think that a building and loan
ISOLATION starts with a large capital
ock paid in like a bank and other cor
He might know il he would
ink, that an association starts with 10
3 first months dues paid in, and that
len the capital of each series is at
1t is dissolved by maturity.
Many imagine that an association Fr,
n guarantee results. When II he ,
'uld think he would realize that as a us,
rtner he would simply be guarantee