The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1897-01-16
Northern Michigan Building and
Loan Association, Of Han
cock, Mich.

Loan Association, of Han
cock, Mich.
Money loaned TO build and buy
cottages. Why pay rent when you
can build house and pay for it in
installments of about ten dollars
per month? Our statement Dec.
1St, 1896, shows:
Stockholders paid in 3is,e45 a.
Profits ..,.. ........ IaO iR3 ~
Mortgage and stock loans. ......... di5,iI 2s
Z heai estate - ''..,,..,.. 2,26 d
James z. Cooper, president; 8. B Harris,
first vice president; Frank A. Doug glass, see nd
yice-president; William Condor, treasurer; C.
ID. Hanchette, secretary aud attorney.
The object of the building and loan
associations is the building and inn
proving of homesteadS, loaning
money to members thereof only, and
OF furnishing safe and profitable
method of investing the savings
OF it's members.
ADVANTAGES OF THE NORTHERN MiCHI-
GAN BUILDING AND LOAN
ASSOCIATION
The main Office of the company is i'm the
county where practically all its business is
done
the stockholders at any time.
Its loans are made upon property examined
by tue directors personally and under their
immediate supervision.
It's small percentage of expense In conduct
ing its business.
The ease and quickness with which loans
and Investments may be made
The safety and strength of the institution.
COMPARISONS.
All national associations or state associa-
tions doing business ali over the state and
v. nj
d Investment Co., of DeirSlt the Michigan
Savings and Loan Association OF Detroit; and
the Capitol Investment and Loan Assoc iation,
OF Lansing, make loans aud do business all
over the state Their officers cannot peraou-
ally Inspect the properties offered security.
aud IN consequences, very many bad loans are
made.
zach of the above named companies deduct
between 10 and % per cent of the dues paid in
for expenses, and have so-called expense
fund, Besides that. they deduct the member
ship fee, transfer fee, attorney fee
the expense fund. The Northern Michi-
gan Building & Loan Association has no special
expense fund, ana its expenses amount to but
per cent of the amount OF its receipts
On examination of the reports Of different
companies you will tud that the amount earn
ed by the Northern Michigan Is largely In ex-
cess Of that earned by other comp tnies, for
the reason Of the saving OF from 10 to l2 per
cent in expense alone For example:
The Michigan Savings and Loan Association
of Detroit, on December |. 1895, shows that on
stock issued December I, 1889, stockholders
had paid in per share IS ~ Oh
10 per cent had been deducted for expense 72O
Leaving -. ..... .. .... o. 20
The profits on each share amounted to IS 27
Making the stock worth ......... 500 OF
that is, 1t had matured its first series stock in
six years
The report OF the Northern Michigan Build
ing II Loan Association ON the aIne date
shows that its stock issued December |, 1889,
That there was pad for
one share 49, 1856 60; for two ss2 90
same as IN the Nat. for
one share.
Profit for one share was. II IS; for two, 80 80
S5S 6s; slO7 80
Value stock of Mich. Savings a Loan
Association ........ ,.............. lOO W
Showing an advantage of ...... : 7 ~
in favor of the Northern Michigan Building
and Loan Association at that time.
On examination Of the reports OF other Az
sociations you will fad the same, or greater
Why do people make Investments In foreign
associations when their home associa-
tion will make more money for them!
isaac Hechtola, n miner or laborer at the
Atlantic mine, paid to the National Loan &
Investment company of Detroit $40 %
When he withdrew he received only. 2SS 90
So that he not only lost his interest, but
also .:....... '.... .......'.' ...... s2 w
He also had 90 shares of stock in the sth
series in the Northern Michigan Building and
Loan Association, ana has given notice To
withdraw the same when it is worth so y
share. According to the rules OF the associa-
tion. three months after such notice he Is en-.
titled to S5O per share, so that he has paid In
to the Northern Michigan ......... 1VO 10
and received when the three months
time were up. ,..... ....... ....siUpo w
Making a net prof, of ...........sa0 %
These are facts and we have the statenents
to show them.
The Northern Michigan has paid ont over
$f,,nDJ in profits already, aud has &l3J,UO in
profits to the credit OF its stockh oders. YOU
can he u stakeholder, save money and
share in the profits. YOU can have
THOUSAND DOLLARS ia three different ways:
Subscribe for ten shares of stock and
pay membership fee Of .............S 501
l2O monthly payments of IS each -. coo %
Your profits will amount to ... 3g5 %
And In about ten years you will get :. 1900 90
Subscribe for twenty shares of stock
aud pay mcmbership fee of " 900
Pay 40 monthly payments Of $40 each. :. $50 %
Your profits will amount to-. ....... 2t0 Oh
And you will get ...,. =. ....., e. 5000 90
Or, buy ten shares of stock, pay n
membership fee of e.. ........ .........S SOD
Ard pay in cash ........ -. 800 o.
Aud in about ten years your profits
Will amount to e.. :. ....,...... 4g5 on
And you will receive =. .. :. 5000 90
Further Information can be obtained OF the
Secretary, or any assistant secretary.