The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-08-20
A BLESSING TO THE
STATE OF ALABAMA

HANGING the value of city property in Ala
bama.
Ask yourself this question: Does not the
private money lender lend money to a
more liberal degree. knowing full veil that
when the mortgage becomes due. If the
party is not able to pay it, that he can
get the money from a building and loan
association to pay off the debt?
I am writing this article to all fair
minded men. and let me ask you this ques-
ton: Is it not true that every kind Of
business has to be perfected by time? So
also is 1t true that any great business, as
well as any great man, is always subjected
to more criticism than things of little sig
nihcance and little prominence.
Common Sense
There is popular but erroneous idea ex-
listing in regard to maturity. For instance.
not long since the writer heard a person
remark that he had just settled with a
building and loan association, and had to
cancel his stock for about 50 cents on the
dollar. This being such a remarkable
statement it excited the writer's curiosity.
and he determined to ascertain the facts
In the case, which are as follows:
shares of stock, worth. at maturity,
$1,000. He had paid on the stock Y
monthly payments of 81 each, or
total of ACKNOWLEDGEMENTS. .s5O4 90
And he received for its cancellation
value the amount of $504 he had
paid in. with per cent per annum
profit for the average time his
money had been in the association,
or a total profit of.................... 120 96
Cash cancellation value received. 1924 SO
You who read these lines! Stop a min
ute and think! Have all your investments
in the last ten years been as good or better
than this shown here? Have you not in
vested money which has made you no re-
turn whatever, and on which you cannot
even get back the principal? The way in
which the building and loan business is
often spoken of Is misleading. The build
Ing and loan business in the United States
has reached the magnitude of $6OoOOO,OOO.
composed largely of the small savings of
members here and there over the country.
To be sure, the estimates put forth by
members of associa tons a number of years
ago were entirely too high, in that they
apparently would mature In certain
time, when 1t would require a much longer
time. The estimates at first were all made
very much too short, and the stock not
having matured in the time expected
caused considerable ill-feeling in Alabama
toward a system which should have stood
in universal favor In great many places
in the United States we find the building
and loan business developed until it is al
most perfect. And while we do not excuse
mis- tot do Nv
fore. yet much of the abuse heaped on the
building and loan system is like that
enumerated in the first part of this article.
Absolute Safety
By the terms of the charter of the Ala
bama Home it can neither borrow money.
buy real estate, nor hypothecate it's mort
cages.
The money paid in by members is loaned
on first mortgage on improved property in
the cities of Alabama. Before loan is
made the abstract of property has to show
a good and perfect title, and insurance has
to be carried with loss payable to the as
ISOLATION.
Stock In the Alabama Home has a cash
withdrawal value making it a very desir-
able investment. You can borrow from
the banks on our stock about 90 per cent.
of the amount paid into the company
thereon.
Do you know any other investment Of
fering greater inducements than this? The
Alabama Home does not hold out fabulous
profits as an inducement to prospective
investors, but offers you a reasonable
profit and absolute safety. In fact. in
order to do the highest class of business
and offer a safe investment, we must give
the borrower good, reasonable terms, and
pay the investor only a moderate profit.
Would you not prefer a smaller profit
and a greater degree of safety or larger
profit and less degree of safety? The
safest business is loans on homes with a
high moral risk. The Alabama Home has
so perfected its plan as to be able to reach
this class of business.
To Investors
The Alabama Home offers you the OPP
portunity to lay aside your savings and
have them returned to you with a reason
able profit. Young man, what will give
you prestige in this world? What will
enable you to take advantage of bargains
when you find them? Nothing but ready
cash. The great question that confrontS
the young man of today is how he is to
accumulate anu get dHedQ Ill tue WOTlu
Experience has proven that no one ever ac-
cumulated anything who does not save
systematically. Money boarded away is
we'll saved though saved at a loss. but how
much better to accumulate In systematic
and profitable way? The great trouble
with the majority Is that they do not save
anything, and old age overtakes them
still at the bottom of the ladder, toiing.
AS years go by. the responsibilities of life
increase, and the ability to save up your
earnings and accumulate becomes less
from year to year.
Young man! You who are not yet into
the realities of lifei Invest your savings
and have them returned to you with a
profit at time when an amount OF money
will mean a great deal to your happiness.
Investment in The Alabama Home offers
great inducements to those who would
save up their earning.
To Borrowers
Why will you drag out your life paying
rent from month to month, from year 10
year, and after all have nothing to show
for Ut but your receipts, and the satisfac-
ton that your have paid out enough to
buy two or three homes Why put up
with the annoyance of having to move