Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-08-28
THE 3. e L. REPORT.

Change in the Law Has Hurt the
Building & Loan Business.
Des Mones. Aug. 2S.-Auditor of
State Merriam has just compiled his BIZ
ennial report of the business done by
building and loan companies in Iowa.
The report covers the years 1899 and
1900. The report is significant and i'm
portant, in that it is the first one made
since the drastic legislation Of two years
ago was passed. The report shows that
the law has had a deterrent effect on
this GLASS of financial enterprises.
In the two years there has been re-
duction of twenty in the number of
companies doing business. There were
twenty-four domestic companies at the
end of the period, as against twenty
seven at the beginning. sixty-three do
nestle locals as against seventy-nine
no foreign as against one at the begin
ming. Whereas, lo7 companies were do
ing business at the close of the preced-
ing biennial period, but eighty-seven
were in business at the close of the last
period. All the retiring companies have
gone into voluntary liquidation. as pro-
vided by the law. when it went into eff
feet on May 8, 1900
comparison of the years 1900 and
1888, the last years of the two biennial
periods, shows a total decrease in re-
ceipts of building and loan concerns of
H,272,940.51. There was decrease in
the amount received on different classes
of stock of 99S,260.72 a decrease in
the amount received on premiums, in
terest and membership fees of $685.
S51.05. There was a gain of cash on
hand, however, of s142, 0sss "a; there was
decrease in the expense fund of $751;
66S.19, and decrease in rents, transfer
fees and miscellaneous receipts of ST.
1870. The increase in real estate and
stock loans and taxes and insurance re-
paid amounted to s627,897S9. The in
crease In real estate sales and foreclos-
ures amounted to $37,4s4.58. The in
crease in profits on withdrawals and in
bills payable amounted to $13,197,94 and
S45, 1880 respectively.
OF course, the total amount of dis
pursements was equivalent tocthe total
receipts. and the decreases were identi-
cal amounting to $1,272940.51. OF this
decrease in total disbursements $751;
2o2.oS were of miscellaneous charac-
ter; decrease in loans on real estate and
stock pledged was 5000, 1879; on real
estate and foreclosures, $2O8, 6336s: in
expenses, office help and salaries, s12.-
69l.57; in expense, management, rent.
miscellaneous, advertising, agents fees.
\ commissions and furniture 81, 993. Al: in
cash on hand and in treasury, SPAS. 1858. Sc.
On the other hand, the increase in diff
ferent classes of stock withdrawn
amounted to $175,94224; the increase in
interest or profits on stock withdrawn
was s26.6O2.77; in taxes and insurance,
19,960.23; in bills payable, 69,336.S9. All
comparisons of both disbursements and
receipts are with disbursements and re-
ceipts of in 1900 and in 1898.
There was total decrease in receipts
and disbursements in the last biennial
period of $1,715,915.52; there was total
decrease in assets and liabilities of 81
322.54S.02.
This represents in brief the effect of
the new law on the business.
The total receipts of building and loan
companies in Iowa in 1899 were 1896
1856 In 1900 they were 5000 222.13
The disbursements in 1899 were $685.
1885, over 1869 034.S7 in stock being
withdrawn. In 1900 90, 12O,346.14 in stock
was withdrawn.
In 1899 the assets of building and loan
companies in Iowa amounted to $40 $780,
95s.77. and the assets in 1900 to ss,20s.-
| 405.75