The age-herald., 1899-09-17
Are Building and Load Asso-
 citations
SAYS EMINENT AUTHORITY
MT. w. V. M. Robertson Writes an Open Letter Concerning His Investigations in
 Ohio.

the Alabama Home Building and Loan Association of this city, recently made special trip to Ohio to personally invesu- gate the building and loan associations of that state. MT Robertson, who has had eight years experience as manager or the Alabama Home, is the most eminent au- thority on building and loan associations in the south and these institutions stand on the topmost round of the Buck eye State the deductions made by Mir Robertson and set out in the open letter below wlll be read with unusual interest The saving of money and the accumulation of property matters of concern 10 every one, and Mr. Robertson treats of the subject in this letter so ably and so lucidly that it's perusal will be exceedingly pleas ant and instructive
 To All the People Living in Cities of Alabama The general manager of '"rhe Alabama Home" has recently returned from the state of Ohio, where he has been making personal investigation of the building and loan associations of that state The paid iT capital of the associations of Ohio, as per their reports 10 the governor or that state, he found to be $S9,770, ,16l.V, or an amount greater than the combined banks of Texas, Louisiana, Arkansas, Mississippi, Alabama Georgia North Carolina and South Carolina.
 This shows that the business can be made a great success. In Dayton, O., he found that the plans of the associations there were so adjusted to fill the real want of the borrower, that the straight mortgage com panies and the private money lenders had but little show of getting good loans. There is no doubt but at this time the people of Alabama enjoying prosperous times and as the building and loan business has been made factor of usefulness and great benefit to the older sections of the union, is there any reason why it should not be made factor of great good to the people oI Alabama? Are not the people as intelli- gent and progressive as the people of Ohio? It would seem to the writer of this article that the citizens of Alabama should have as good and useful financial institu- tions as the people of Ohio.
 The nature of the business Is that of CO., operative money lending and the security Is first mortgage on improved city property tmainly to aid its members in building homes), so there is every reason for the business to be a success, and to become more popular in the future than it has ever been in the past. Two things alone are needed, viz: the proper plan, and ex- perienced men to manage it.
 Co-opera ton, In it's various forms, is the magician of the century, and as in nature we see the rays of the sun draw up water from the ocean where it is more than plen- tifu and carry it to the desert where it is needed so should the benefcent workings of good building and loan company be to any communlty-taking the savings of those who wish to save, and lending it to those who need home
 And now few words about the Alabama Home, in which so many of the good peo- pie of the state are directly interested
 The record of the Alabama Home proves that the business can be made a great suc- in Alabama. During the past eight years we have issued stock to the amount of over $2,500000, and have redeemed our stock to the amount of over Sl,000,00O, and no certificate of stock within all that time has ever sold for less than the withdrawal value as prescribed by the bylaws, and we have aided our borrowing members in building hundreds of houses in all the towns and cities of Alabama.
 Eight Years Record
 In the eight years that the Alabama Home has been Tn business not a share of its stock has ever sold below its stated withdrawal value. How many other things in the city of Birmingham do you know of that can show so good a record? l dare say there are very few. For instance, what has been the experience of those who have invested in other stocks, real estate, etc? Has not tn time been, and often, when you
 lallo and again when you could not get anything for 1t al all? Cannot each and every building and loan associa ton in this city show d much better record than this?
 The Alabama home has been and will continue to be of special benefit to the wage earner, who, by toll, produc and self denial, is enabled to lay aside few dol lars per month to make preparations for the time to come when his toilng hands are weak with age. The inspector of build ing and loan associations of the state Of Ohio. in his last annual report, said: They foster habits of economy and thrift, and steadily increase the wealth of the locality in which they operate. we'll managed building and loan association is one of the greatest blessings any community can have. and should receive every reasonable encouragement"
 Let Us Consider
 Having heard of considerable complaint against the building and loan business in the state of Alabama, and feeling assured that it was greatly exaggerated by inter- ested parties who had some form of in- vestment to offer the public, we have felt called upon to make a careful investigation of the Home building and loan asSoca- ton in the state of Alabama, and we have found that during the past twenty years they have been subjected toaless loss, and have returned their members (who have been in good standing and complied with the rules of the company their money with a better average profit than any other form of investment in this state. Again, ali of us well remember that ten, fifteen or twenty years ago city property in Ala -- bama would not be accepted as collateral