, 1897-12-01
NEW SERIES JAM. l..
\ FEW COMMENTS UPON THE MAC
NiFlCENT RESULTS OF BUILD
ING ASSOCIATIONS.
Splendid Achievements in This City
and Throughout the NATIONAL
bany Mutual Will Start a New Ser
les January las Safe as a Ma
tional Bond and Better Investment.

At the last meeting of the trustees of
the Albany Mutual Building associa,
ton it vas decided to bring promptly
before the people of Laramie the fact
that on January /. 1898, another series
would be started, making the third.
Building associations have done such
a vast amount of good in this COM
munity that The Republican has com
to look upon them as a benefit of great
value to the public at large and has
therefore been ever ready to urge theif
patronage upon the people in general.
AS the local associations are conducted,
the shareholders receive the fullest re-
turn possible from their investment. The
officers and trustees, with the single
exception of the secretary, work with
out pay, and that their duties have been
well performed is attested by the fact
that no losses of consequence have ever
been sustained by any associations in
his city, and such societies have been
III Ol'eltllOh uelS lOI dllnOSl l"O ue-
cades. Many a poor man has been en-
abled to build a home through small
monthly savings, and in this manner
1t has cost him little more than he
would have been required to pay in
rent: and who can tell how many bust
ness men have been tided over the
shoals of business depression by hav.
ing a few shares of stock in a building
association to fall back upon From the
standpoint of the investor, they pay
greater returns than any of the bonds
hat can be purchased, and absolute
safety is secured. None of the Laramie
associations have paid less than 10 per
cent to the lender, and at the same time
4 place has been provided for the de-
post of small monthly savings which
begin to draw interest from the very
day of their deposit. OF course such
rates of interest as the first association
netted to the investors cannot at this
line be expected. In those days, the
banks of Wyoming paid 8 per cent up
on annual deposits and now they pay
only 4, and every other kind Of an in
vestment has followed the general re-
duction.
The law passed by the last state leg
islature does away with the old objec-
ton that people leaving the city were
compelled to sell their stock at a sacri-
flee. Under the new law a stakeholder
may withdraw from the association at
any time after a series of stock is three
years old by giving the trustees notice
in writing of his intention to do 30, and
he shall thereupon be entitled to re-
ceive from the association the full
amount paid in by him and such inter-
est as the bylaws may provide. The
trustees of the Albany association have
decided to place the rate of interest for
withdrawing members at 4 per cent, the
regular bank rate in this city. In case
Of the death Of a member his legal rep
resentatives are entitled to receive from
the association the full amount paid In,
less all fines and other charges thereon.
together with interest at the rate OF 0
per cent. Hitherto many railroad men
have raised the objection that their
situations were uncertain and that they
could not take upon themselves re-
sponsibilities extending over a long
term of years. The new state law re-
moves this Objectionable feature and
makes the association a desirable in
vestment for citizens employed in the
railway service.
Taken as a whole throughout the I'm
tied States there has been no class of
investments SO certain and 80 remuner.
alive for the poor man as the mutual
building association. To prove this
assertion it is only necessary to refer
to the government report.
Hon. Carroll D. Wright in his latest
document upon the subject reports
the total dues paid in upon instalment
shares in force plus the profits on the
same for the building and loan asso-
Citations Of the country to be $3.50, $751;
564. A business represented by this
great sum, conducted quietly, with lit
tie or no advertising. and without an
experienced banker in charge, shows
that the common people, in their own
ways, are quite competent to take care
Of their savings, especially when 1t is
known that but 35 of the associations