Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-03-26
one B. Z |. borrower.
Experience OF a 1hayer Druggist
With a Building and Loan
Concern.
Some Figures That Should Interest
the Borrower oscrip's South
ern Iowa Gossip.
Fire on Farm Near Buffalo Center
The Smallpox at Park
ersburg.


Red Oak, March Pa druggist at
Thayer, Mr.. William Olinger, is not
completely satisfied With his Nperience
as a borrower from building and loan
associations. In October, 1894, Mr..
Oiinger negotiated Il loan from the
Iowa Central Building and Loan Asso-
ciation for $500. He has kept up his
payments Since that time and has had
no fines assessed TO him. Owing 10 the
changes incident ,,onn the laying of
the track OF the G.. B. 4 g. thru the
Village of Thayer Mr.. olinger finds il
necessary to remove his store, upon
which the loan is secured, from the lot
where ii now stands. the lot having
been condemned or sold as part Of the
new right of way. He wrote the com
pany asking a statement and how
much cash would be required 10 enable
him 10 clear his property from incum-
brance The reply states that his With
drawal interest in the loan consists of
s20S.eS; hat there remains due the
company s2s6.s5, which must be paid
before he can get out.
Mr.. Olinger's payments have been.
First year, $40; second year, 1920:
/ third Year 1910; fourth year, $1,000;
| fifth year. $3.50; six months ofscurrent
year, $3.50, making total of 1913. 30 all
ready paid in. To this add total amount
due the company March Is. 1900, $296.S3
land We have the total amount paid for
I five years and SIX months on a $500 loan
| sS16.335. The interest paid during the
+ siXty-six months he has had the use of
| the $500 amounts 10 s3l6.35, or annually
| $57.4S. The rate, ii viii be seen. is not
4 equal to the III. per cent of Mr.. Rem
leys average. but it runs We'll above
the legal rate OF usage. and when it is
considered that the company is of high
| standing among institutions Of its Ink,
shows that this very best of the build
ling and loan associations are receiving
an usurious rate Of interest denied 10
the individual money loaner.
The travelling salesman who calls on
Iprivats individuals with view TO sup
A plying their needs in the line OF booze
is considerably in evidence along this
principal railway lines lately. One Q!
4 these VINO carries samples % red liquor
tor a erosion dealer had peculiar eX-
perience al Grant, Ia, lately He had
gone into a blacksmith shop in the pur
suit of business and preached the sub
ject and sample 10 the blacksmith
. The mechanic didn't buy. He took
position near the doorway on his knee
: and lifted mp his Voice in prayer for tn
regeneration Of the bug juice man. TIL
!, travelling man couldn't get out. Fl
/ had TO stay and listen TO the blackslnit
!, lay Information against him and HI
! Kind and pray fervantly for his ulti
3 mate redemption. He got away al las
and hasn't been back.
I Essex, one of the star trading an.
!, shipping points OF the % system. i
!, making the steadiest growth OF an.
;, town on the lines over when III
II writer's labors extend The bricl
, blocks NOW nearly ready for occupane.
represent an outlay of several thousan
dollars and give the main street .
; that thriving town u metropolitan ton
lacking in most places Of its size Sur
], Grounded by one Of the best agriculture
! sections of the state. settled largely b.
: the thriving. pushing and intstligen
= Scan6inavians Essex ss4rns TO offer
q field for business investment equal /
any in Iowa The business i'll stock an
gran shipments has made 1t on Sev
e eral occasions the leading station of tn
! % line. Last yearit ranked third.
y has a hustling business men 5 organize
: tion which is offering strong induce
ments to manufacturing industrie
I looking for locations. The soil abol
Essex is said 10 he peculiarly adapts
st1par. haat 1.stl1fllt.p a ther,a < bOt,