The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-02-13
A STRONG BUILDING AND LOAN
ASSOCIATION.
EASY METHOD TO ACQUIRE sUFFI-
GENT FUNDS FOR PREPAID AND
PAID-UP STOCK.
Saving Made Easy and Remunerative
This Association Offers Especial
Inducements to Investors OF
Means in Their Glass sd"
and sE" stock.

and SEP stock.
The law as it now stands pertaining to
building and loan associations has these IN
situations in closer and more harmonious
understanding with their members than
has heretofore been the case. Entire con-
fidence now exists, which previously was
lax, because the then existing law sided
entirely almost with the building and loan
organizations; that Is to say, the law gave
such wide scope, particularly as to the ex-
pense account, that a member was put to a
great disadvantage in case Of withdrawal
before a certain limited time. A number of
associations Immediately after the passing
or this act went into voluntary liquidation
in this State, fearing-and some for good
cause-that they could not bear the pres
sure. Others are sailing along with flying
colors and doing well. In this connection
We may mention the Washington Savings
and Loan Association of Indiana, with head
quarters in this city. At no time were
they disturbed at any act the Legislature
While in session might pass, knowing their
affairs to be in such straightforward con-
dition that they could at once conform their
method of doing business with any law
that might be laid down to them. The say
doubly forcible in the instance of several
consultations they have recently made.
Companies that wish to give up business
and continue in another company and
have the interests OF their members
at heart naturally seek a strong institution
to carry out the promises of their clientage
In this, this association has been very sue
cessful, having lately combined the Com
mercial Building and Loan, and the Equitable
state Building and Loan, into the Washing
ton Savings and Loan Association, making
it in consequence strong and powerful
institution, ranking among the best in In
diana. their assets now being nearly
$4,000, and an authorized capital of
100000. AT the last meeting of the direc-
torS-being after the consolidation-the fol-
lowing-named officers were elected: Presi-
dent, Louis II. Renkert; vice president,
Hon. Jesse j. NJ. La Toilette: treasurer
John w. Hall; secretary, S. E. Thomas;
general counsel. Means & Buenting. With
| drawals seem to be a thing of the past, as
the scare" is over and those who have
done so realize the mistake they have made
in drawing out their savings and giving it
vent in channels where return is known.
The confidence in the mana cement of this
company is such that at no time were they
ever disturbed with withdrawing members
to any great extent. The officers as well
as the directors are experienced build
ing and loan men, who conduct the trust
imposed upon them with as much energy
| and self-sacrifice as their own individual in
| terests. A new plan has lately been adopted
by this company in the form OF limited
payment guaranty stock. which cannot be
| too favorably dwelt upon. 1t is to assist
Investors who haven't sufficient capital to
take prepaid (ten payment or paid-up
stock twenty payment), or those who wish
to cease paying dues after a short length
OF time and draw a good dividend as re-
suit of such deposit. In the ten-payment
plan a share costs S. per month for ten
months After this, having paid in fifty
($5O) dollars, it becomes prepaid stock and
draws interest at the rate of s per cent.
payable semi-annually in cash on the first
| days of January and July of each year, the
same as other prepaid stock. This stock
ing sixty days notice; but if left for four
| years, will draw in addition to the per
On the other hand, If no dividends are
| drawn, the stock soon natures to its face
| value, l. e.: one hundred dollars. In the
twenty-payment plan a share costs S. per
1t is fully paid up and is subject to with
drawal at any dividend period time. This
stock, after full payments have been made.
mas all the options under 'paid-up Stock
and draws s per cent. dividends payable
also semi-annually in cash. The first semi
annual dividend becomes due and is paid
at end of month in which last installment
IS received. This plan is meeting with great
1aVor among the masses, especially among
these who have been placing their
earnings in savings banks, trust compa-
nies and local building associations, which
pay only to per cent interest. With this
method one soon has a respectable amount
to his credit, which, in addition to the in
terest paid, gives an incentive to save and
make such prosperous and useful citizens.
Those, though, who have means and seek
Investment, nothing better can appeal to
| their desire than to take prepaid or paid-up
coupon stock, issued by this association
upon payment of $50 and 500, respectively,
per share. This association according any
one person the privilege of carrying from
$50 to $4,000 worth of stock The security
is absolute, as all real estate mortgages
held by the association stand as an Off
set to stock so taken. Prepaid stock, known
also as "Class D." pays partial guaran-
mum, payable semi-annually in cash on the
first days of January and July of each year.
The balance of the net profits are credited
and permitted to accumulate to mature the
stock, the par value of which, when so
matured is 500. After four years. at option
of the holder fifty dollars per share is pay
able and all accumulated earnings less divi-
dends previously paid. This stock is sub
Ject to withdrawal one year from date, by
giving sixty days notice. Investors are
recommended to- this stock if they desire to
place their money on long time and draw
Paid-up stock, known as Glass e. is IS
sued upon payment of one hundred dollars
cent. per annum is paid in cash. semi-an-
nually. This stock may also be withdrawn
at the end of any one year on giving sixty
days notice. This association has all its
money loaned out in small amounts on first
class improved real estate security They
report very large business over the State,
mainly due to the adoption of their new
plan. All communications should be adj
dressed to the Washington Building and
Loan Association, 926 Stevenson building,
Indianapolis. Ind. Printed matter detailing
all information will be sent to all in quest
of same.
SPECIAL. RATES
To Mobile and New Orleans
IL %