The times. [volume] (Richmond, Va.) 1890-1903, 1898-01-01

n 49,, A., ,.tockf iolde-s. as a rule.
80 -. a., ,,,,,r Cd t. cc ntinue their stock
oV %, ,,i',' The prospects for 1S'S
'.i n'"'.,' O. TIE courts of all the
| 60 o,rc,t North Carolina and Ken
| 49, ortorCe baiilding and loan con
$50. noode compliance with the
! -. III y. SPECS i've States.
- mo-, nc of interest 10 investors 10
| -. tLat n con garrison Of the report OF
| r. ,-orrntrolcr Df the Currency with
! Tho ro,,ort of the Commissioner OF Labor
! ~ tho ,-nitcd Sta des for 1896 shows that
I tho amount invo wed in the 1ailurcs Of
! Nation nj banks du ring the past four years
exceeds the amour W involved in the fail
! ures OF building md loan associations
| durng The same eriod. by s5i.2233 S1.
| Parties desiring 10 put by little money
| every month. VIII ch otherwise they
/ would spend withou knowing what he
| came OF II. cannot do better than TO sub
scribe 10 a few shar IS Of building and
loan stool, Statistic show that the
homes air eady fully oaid for through
associations I'm the I'r 1ted States. now
amount - 3 WS2.
MUTUAL NNRANTEE II. & L. ASSD.
Among the vital topics which are ell
gaglng public attention in a greater ar
less degree. IS the futurCr success and
prosperity OF bsiildng and loan assoc; a
lions The vast increase Ind the wen
derfnl development OF the accumulated
capital Of these associations Is colo9 sal.
and the business is engaging tho thou ght
and attention Of fl Larciers the world o. ger:
and intelligent direction will make tho
business a power tor good in the land
Widespread dissatisfaction nd Lao K OF
proper confidence prevails. bro night bout
doubtless by adverse Ia VS. IN s,me Il Z the
States mismanagemerf. dshon esty. and
disreputablc attorneys who cor nive and
scheme 10 manufacture litigation 70 serve
their most selfish ends.
Borrowing members Of fmilding an 4 loan
associations who seem 70 disregard their
contracts with other mem bers Of mutual
organization. nre making vigorous efforts
TO ignore and have the courts Il their
respective States 10 follow those ~ North
Carolina and kentucky. and make build
ing and loan contracts unccnstitu tional
! ard charges to their mem bors us Irious
! CO-oDeration on the part of the rrt mbers
and law-makors. and the condolences OF the
investing public is the true solution Of this
matter. with clean record Of III image
,nent. and an uninterrupted 500 cessful
g areer.
NO REASON FOR ALARM
7 here is rot the least ground 2 n any
n5a rehension regarding the futu re Of
br1t ling and loan associations. IN anaced
cvi,r, a fair degree Of prudence.
tn point which II Is desired 70 IMPRESS
&c ~ at the great mass Of buildiY and
loan associations are now upon a sound
hasie and are worthy Of the con idence
Of IN 1sc having money 10 invest
nv reason Of the large number " per
sons directly or indirectly intercs ted in
these associations. IT IS the duty OF the
state ,to protect foster and support them.
and v careful and conservative ! eeisla-
ton. brow around them the safe guards
and securities necessary for their rotec-
tion ar'd future advancement
In on r city there arc many lart . and
prosper aus building ard loan assoc iatons
that have been enabled ny good n anage-
rncnt 20 earn large dividends and 20 ac-
ouInulans assets running mp into = 10 mil
lions \ large proportion Of tho funds
thus accumulated have been draw from
our sister States.
Those association have not onl edu-
Gated the laboring people 10 the import
ance "a frugality hut thev have enabled
many workman 70 own his home 'oy pay
ing for 81 on the monthly instalimert plan,
whereas probably. thew would never.
otherwise. have possessed n home OF their
own
They lave invited outside rapital I'm
our midst, ard advertised Richmond far
AMI wide 9s n frarc.al centre
Their rpnex Influence on the Statp IS
much greater than that Of any other class
Of financial instittticrs
These mutual associations. when their
missions have become Known. win. I'M
doubleday, rapidly increase in number and
importance.
The record Of our association has been
phenomenal and we anticipate q ontinua-
ton Of the record made in the PAST for the
year 1895
GEORGE G. JEFFERSON.
Mr.. George .. jefferson. secret arv OF
the Guarantee Building Loan and Trust
Company was OF the opinion that as far
u o ~ afr.,. IA
companies OF the city are in prosper
Gus condition His company having be en-
limited by It's charter TO loans in and nc ar
the Ciry. had done a good business I'm is97.
The property on which loans were
ma Je. being under the personal super
vision OF the company's officers and d.
recttJS an excellent opportunity was az
forded for the selection Of desirable br 81
ness.
In view OF a prospect OF more steady
employment by our working men, who
constitute the majority of his patrons. a
stu better condition OF affairs was an
ticipated I'm 1895.
CUNNINGHAM HALL.
Life insura nee like other lines OF bust
ness has felt the effects OF the improved
conditions ann the business of the Penn
Mutual for the year 1897 shows an in
crease OF about 40 per cent. over that for
1896 There are several reasons for this:
First-Thc policies offered the public are
better and more liberal and the business
is more actively pushed and more intelh-
gently represented TO the public. than ever
before
Second-Wealthy MN finding many OF
their assets unreliable and no< producing
the revenue they expected. are now in
vesting more largely in life insurance.
knowing that II furnishes No. ! invest
ment together with prote.,hon: while men
of ordinary and limited means find that
for the protection Of wife and children.
and as a mean of providing for their own
old age there is nothing equal 10 life in
surance in a solid and reliable company. |
! confidently look for a larga business |
during the year 1898. and as the conditions /
Of the country improve. our bus ness will |
increase.
W. b. FREEMAN & SON.
The year 1897 has been a most sStisfac- /
tory one as regards the amount and !
quality OF business TRANSACTED Collec- |
! tons have been good and business has |
steadily increased in almost all lines OF \
| commercial and financial transactions. |
Few there are now 10 be found who are |
unwilling to admit that the improvement !
/ has been substantial. and we believe that /
Richmond has been alive 70 the situation |
and has forged ahead in most satisfac- !