The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-05-12
LOAN

The Bulletin of the Department of Labor
for May contains the latest reports of the
business of building and loan ASSOCIATIONS
in fourteen States, as follows: California,
Connecticut, Illinois, Indiana, Maine, Mass
achusetts, Missouri, Nebraska, New Hamp-
shire, New Jersey, New York, Ohio, Penn
sylvania and Tennessee, which contain 70
per cent. of all the building and loan as
sociations OF the United States. These re-
ports show that the total number of asso-
Citations in these States was 4,617 at the
close of the fiscal year 1856, with 1856, 999
shareholders and $449, GAS, 04S dues paid in,
paid up, and prepaid stocks and profits. The
assets of the associations of that date
were: Loans, $402, 327, 297; cash on hand,
Sl6, 1853, 56S; all other assets, $32, 351, 757; total,
$4S9. 659, 734. The liabilities were: Dues paid
in and paid-up stocks, 1888, $50, 5SS; profits,
S66. G52, AGO; all other liabilities, $40, 016, 6S6;
total, $4S9, 659, 734.
The foregoing are the latest statistics Of
building and loan associations which have
been given covering so many States. In
connection with them the statistics pub
lished by the National Labor Bureau Jan.
l, 1893, are interesting. At that date the
number of associations in the fourteen
States named was 4,499; the number of
shareholders, $500, 100; the total assets,
S46S, 475, 395, of which $37S, 937, 500 was loans.
The installment dues paid in and paid up
ana prepaid stock were $30S, 105, 47S; profits,
sol, 765, 500; all other liabilities, $685. 04, LOG.
Total, $403, AS, 395.
IH-Dpo tho forapoipn fc1,cac il apYaar 9
that the number of associations has not in
creased in the period OF three years to any
extent. Remembering that the increase in
the number of companies has indicated a
speculative and dangerous tendency, the
small increase in that direction is an en-
couraging Indication. Half a million gain
in shareholders proves that the building
and loan association as a means of invest
ment continues to enjoy the confidence of
small investors, in spite of occasional in
stances of bad management and loss. An
increase of dues collected and profits aggre-
eating $40, IL, coo in between two and three
years, or PA per cent, shows that the class
of people who invest in shares of associa-
lions are not so reduced that they have no
money TO save, and, further, that saving
in hard times indicates that a large class of
people of small means have learned the
trick of putting by a little money and will
sacrifice to do it. 1t also appears that the
aggregate of loans has not increased SO
rapidly as the aggregate of deposits. This
would indicate that greater conservatism is
exercised in investing money than III earlier
years. This policy must result in smaller
dividends, which must put the building and
loan association upon a sounder basis. The
associations in the fourteen States reported
Jan. /. 1898, held 76.5 per cent. of the in
vestments. the aggregate in the thirty-four
States being 1888, 496, 94S. If there was a like
increase in the three years in all the States
as in the fourteen reported the total in 1885,
nc urne nhnnf S14h nMn 600