The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-01-24
INCREASED BUSINESS
The Fine Year of Mechanics
and investors Union.
The Business of 1899 Equalled the Combined
Business of the Year 1897 and 1898.
It's Well Managed.

The sixth annual meeting Of the Nc
chanics and Investors Onion was held
on yesterday in the office Of the COM
pany. The officers made n very salts
factory report to the stockholders and
showed that fine progress had been
made. During the year more than atty
loans were made to it's members, agsrc-
eating nearly eighteen thousand dollars.
The treasurer exhibited Il detailed list
of more than one hundred securities as-
gregating nearly forty Thousand dollars,
which he holds for the secur.rY ard final
payment of the holders Of the stock CT
the company.
The operations of such companies add
greatly to the prosperity of the city and
State. In the first place it N lu,es our
people to save and to invest Il portion
of their earnings, audit also enables
worthy persons to obtain the use OF
money on easy monthly payments, with
which to become the owners Of houses.
The company seem TO appreciate the
increasing value of their stock obliga-
tons. and have increased the price of the
full paid coupon shares TO eighty dollars.
At this price it gives the holder an
eight per cent investment. Taxes ace
paid by the company.
She monthly payment stock was fully
discussed, the secretary having stated
that the investing public seemed to de-
mand more liberal plan, with a def
mite date of maturity. In order to '!eec
these wishes. a committee was appoint
ed to consider Il new certificate mat
would give a definite date of maturity
and with liberal withdrawal or loan fea
lures. The committee were also IN
structed to formulate q plan. by which
old stock might be equitable retired, and
new stock issued provided the owners
desired it.
The stock of the Mechanics and In
vestors Union is now being purchased
by conservative people, and it is con-
sdered one of the best investments on
the market. The committee will prob
ably advise definite contract certifi-
cate, with one hundred monthly pay
ments, and made payable on
day, one hundred months after date
Of first monthly payment, and at 4
price that will pay the investor about
Eight per cent per annum proft-free
of tax-with provision for maturing the
STUN IIOII lltt AhuluIt Il tjib III Vase Va
death of the owner before maturity of
the stock.
No change was made in the loaning
plans of the company, as the plans i'll
force have proved to be very satisfac-
tory, and are in exact accord with the
usury laws of the State.
The old board of directors and Off
GERS We're reelected, being the same
parties who organized the company
nearly seven years ago, and who have
carefully managed it ever since. Deaf
seems to shun not only the managers of
this company. but also the members,
this being the third year, without having
to record the death Of one of the two
hundred members.
The secretary says that he will have
the new certificates prepared at an
early day. and we predict that they will
become Il very popular investment for
our citizens. We hope that the ladies
and young men of our community will
become investors in the monthly certiti-
Gates. Such institutions have done
much to build up northern cities, while
greatly benefiting the investors.