The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-08-11
MsssouAa Ne7Vs.
The FIFTH DIVIDEND.
Paid by the Missouls Building and Loan
Association.


Paid by the Missouls Building and Loan
Association.
Missoula. Aug. i0.-The trustees of
the Missoula Building and Loa Asso-
citation have to-day paid a 10 per cent.
dividend upon the borrowed stock
OF the association. This makes the fifth
dividend of this size that the trustees
have paid since the disincorporation OF
the association, May 8. 1896. As each
dividend represents about $500, the
payments reach quite a respectable
sum. The Missoula association has
beer successfully conducted since its or
ganization. and its work has resulted
in much benefit to the city. From the
trustees statement IL appears that,
when the association was disincorpor-
ated, two years ago, the sum owed on
non-borrowed stock reached s42, $50. AT
ter the payment of this months divt-
dend, this Indebtedness will mount to
but t17. 095. The assets which VIII meet
this obligation are real estate amount
ing to 81, 800 and dues from unpaid loans
for a little more than the valance.
II will be seen from this that over 90
per cent. OF the indebtedness has been
paid since the disincorporation n that
the trustees are absolutely certain OF
funds sufficient to meet the outstand-
ing amount and incidental expenses.
There are now outstanding 1856 shares
OF non-borrowed stock and 27I shares
which have been borrowed upon.
The history Of the association Is an
interesting one, as showing how much
can be accomplished by such an or
ganization. 1t was organized May o,
1856. Since its organization, the as
ISOLATION has issued 3.lOO shares
in five series. They have
been loans made upon stock to the
amount OF s225. 900. Nearly every cent
Of this has been put into the building
OF homes. and i'm most OF the cases
where homes have been built by stock
holders the owner could not nave man
aged TO own a home under any other
circumstances. This much has been
done by the association easily and with
out any trouble. II Is a work. the full
extent OF which is not appreciated I'M
I'll IL is carefully studied.
Mr.. Stoddard. the secretary OF the as
! ISOLATION and now secretary Of the trus-
tees. i'm speaking of the association, said
to-day: I'm addition TO the work that
has been done In enabling the con-
struction of all these homes, the owner
ship OF stock has proved a good invest
ment for non-borrowers. With one or
two exceptions. there IL no stakeholder
who has not received the full amount
l lldN ne IDS pdih III w 'hNoH "A'h 81
addition OF the fixed rate of interest.
The association, since its dissolution.
which occurred when its incorporate
time had expired. Is now In the hands
of a board Of trustees. who act as re-
ceivers. All property upon which loans
have been made has always been kept
insured. We have never had more than
one loss TO collect. and In that instance.
we turned the insurance money over
to the borrower and allowed him TO
go on with his dues. In another case
we had a loss by fire after We had ac-
auired title to a property. That. OF
course. went 10 the treasury. When the
dissolution OF the association took place,
we had in the treasury 81 26.S6 In cash,
Since then We have collected In dues
and interest. S22. 43l.02. all OF which
sums have been paid out in dividends
The showing Of the association is salts
factory 10 the trustees and II Will not
AXE long to close up its affairs"