The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-06-06


money 90 lOsftigaAte invcs ttiVnsS. FAt
I UleSs 81 Investors has always rlaccd 10
money 81 saN lass banks and Nutldias
lona rcigNxaiss They. tANssriNTV. grcssa
az euts-e new fielS !Dr eNpsosStsoa aad de-
velopucSls aaa q tAsy can SNe cSavluceS
tAsi TIC stocis Ans bonds .; the cn'ns'$f'
vhioN VIZ rrOsSNss - establish constitute .
SAFE ana siAnlt scclritv, a large ssnoGal
- sunncy NraA slcw into tAe co9ngSSs, Sit
( all Al - tssnfS wosi2a - sNSass~e3 without
sl.v -a.,s.r5 q i9s cnnt-asu;asns q large
| n1NtalIsssO who bavt herotoscce vNciusirc-
Is Sgpea-,a n fipNacltl ccSoi4atsons, Witf
lNis necessary nrxfact, ! VII proved "a
state fhA nature ans general Objects and
rusaagos 81 the Loan ana Mertsase BAak
C'ozapanS a. she IaitS >,stF$
\ POPULAR RANK OF TRS PEOPLE
/ IL ss proposed ~ establish q company
under special charter frasn The govern
zssnt 81 he rulsed states with q capital OF
! siea gs,a.c ea. divided snJo shares 81 sic
! cacA. 10 open BOOKS .; subscription all
! over the United states, and TO Invite peo-
| ME scaeraily 10 subscribe FOR the shares,
! no oae person having The right 70 receive
marc ihAn Slr00 ~ The stcck unless me
1 Whuse amount Is rot taken. IN which case
q vsH be awarded TO reserved subscribers,
/ This makes the compEuy the hank q the
ESaogic AID eiveS il a. opce the stamp II
popularity mich cAn not Ne enaced from
The ouinioa Snd belief that this $780,
poe.Noa car De irocurgt from the propis at
.Arec IS hssed up0a thr fact ihAt Ii the
charter there Win be embodied restrictions
ana limitations upon the business aod or
oC1iioDs u ihe company that viii carr.
convictions 10 the persons ts6si 30 s3A-
SCRIBE that tho institution viii Do ton-
Quoted upca The best most statute and
safest rr.ucu1cs OF banking. That lie sub
scrlbers 70 iht stock az tle ccmitny VIII
rrceive d yearly dividend upou their
shares 'here would seem 10 exist no doubt
Tn long ana prJsi~gols eNi-isn-e u The
Crtiit Fauc,er % France strausly cen
.i'fas taiS ou.n.ca.
TO BE CONTROLLED ny THE COZ
ERNMENT.
Il IS rot pro7osea 20 ask tho sogcramen;
Of ihs Cajtei states 40 subscribe one dollar |
&c lie capital %, ;Oe company. but. on he |
contrary. one ~ tAe puri oses q the ineti-
porA-ors AID coudit uus under voitA The |
charter wiil ha asked from corer.is VIII |
pf RAT me company shall m me EuNeru- |
meut's demand az IN times 10 ready 20 ad- |
VAAoe Al least So Hul ISIS 20 ire govern |
Ieut ~ current rates % Interest; for Whl-h !
: he company shall l-ceise certificates nu |
s1oF; term, or other Obligations repay abis |
'u' az me eurtrnMt MS receipts or 9TH |
ise as ~ cHms.lnc@S may permit I'm |
S-iiacn "a these restrictions aua lmts- |
.leAs re government VII have thf RICH. /
10 @1po,ni tho governor OF president o. /
Pr bank and two directors. 10 look .i.r
.le interests Of the shareholders old. bond /
E iaefs. aud also 90 2ppu.u; = sgeg al ALL
litHt v 10 sball make and publish monthly !
'tfciiN g; he condition Of the romusuy.
'-a REPORTS VIII he supplemented ly tine
-'E-iAr quar- erly reports made vD1cr oath
i-r executive or managing beard u
lu me. no known existing p~e-
tli .ols or conditions 90 make i stfe sue
'tl ana profitable yomWny VIII Ae
-eRiec'fd IN he charter
Long TINE INSTALLMENT LOANS.
The main purpose Of this great financial
Institution, as outlined by Mr.. pospassos.
8 10 loan money on productive real estate.
Il rat" Of interest not to exceed Der
ent- such loans are uot to amount 10 |
more than 90 per cent ot The actual value
y The property. The loans aro 10 ho If two
'isssrs some are 20 br made for short
PRIV i'HS - rim not over hreel years. aud
@ te paid ln ful at maturity. Others are
o ran from fifteen 20 seyenty-eve year.
epayahle iu periodical installmcnts. Thus
/ man could borrow 1900 on ms farm. AZ
; iTr cent interest. and arrange 10 ray the
Interest. and per cent Of the principal
'aeh scar. That would make 10 per cent
per An1uin AMI ~ the end Of twenty five
ears lis mortgage Woull Ice paid off
Aough ihe yearly payments dDriag that
efiod would amount 10 lttlc more than
he annual Interest he has 20 pay ut pres
nv together WITH tho commission for re-
'e"lpg his loan once every Rye years
To ISSUE POPULAR BONDS.
The company is to be- empowered to issue
'onis bearing 3t5 per cent interest. or one
"n, a day on 500. The ISSUE Of bonds liz
nor so cxc,ed the actual amount Of mort
;sges owned. and it is 10 De secured by the
mortgages 10 be- sort OF dehoature bond
wen as wss issued by some iuau companies
llrlus me mpucy leaning period IN the
q est a few years ago Tho company IS TO
be eIHpow cred TO issue 2un0 millions of such
''nas. They ~!l be OF all denominations.
rom $40 up .ud 1t Is expected that they
Nlll be popular forms OF investment for
'eo3le OF small means. The stable char
.cttf % ~ security back Of them, the
arge capitalization of The company, ana
he far, that the institution will be prae-
ien!y under government control, are ex-
lcctef q place thu high and safe character
Z tile bonds beyond question
Mr. Dos Passoe says the plan IN general
'pomtion would save 100 million dollars
ear 20 the borrowers OF the United States
= the difference IN intcr.s; now paid and
which would be paid under the proposed
iian.
The company is TO be empowered TO re-
eiye money on deuosit al liked rates OF
interest and for nNcd terms. to subscribe
or government and corporation lunns, TO
'peralc grain elevators aud 10 own such
cal estate as might be necessary in case
y foreclosures,
As an indication Of the absolute sound
ic's ~ tne enterprise the fact is cited that
be great Credit Fuucicr OF France has not
ost single dollar, and IN forty-hve years.
. which the business amounted TO 100
Millions In Assets. only six million dollars
y real estate have been acquired.
Among tho btnoNts enumerated TO be de-
lived from the operation OF the company Is
his
The establishment OF this system In this
'ountry will necessarily have an effect on
he habits aud business methods OF the
armers, by making them prudent and eco
iomic in the management OF their farms,
o conform to the conditions and reguia-
ions of the company relating to loans, and
- Interesting them as stockholders or
iondhold.rs or borrowers Of the company,
A ll render thqm moro conservative Ill their |