Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1902-12-11
A GUARANTEE OF InDEPEN.
DENCE, WITH SOMETHING
TANGIBLE TO BACK IT
FINANCIAL ARTICLE NO. IS.

FINANCIAL ARTICLE NO. is.
A friend of ours who likes to argue
land we appreciate him the more for
that reason) said the other day: How
can you guarantee anything. being a
mutual corporation?" This friend
knows a little of law, and withal Is
like many others, has always looked
upon monthly savings as too small a
thing for him,-not worth investigat.
ing, in fact. He does now. He is
stockholder. carries ten shares of
stock, the result Of the argument star.
ted by the question above.
We can guarantee in every partic.
ular. First: Our directors and mana.
gers pay in a cash Reserve Fund OF
cue hundred thousand dollars, and al
80 set aside its earnings to a certain
amount as additional reserve. This
takes care of all possible losses and
guarantees every contract. This Is
plainly stipulated in every contract Is.
sued.)
Second-The money paid us by
stockholders is placed upon first
mortgage upon improved real estate
under the stringent California law.
which controls wherever we operate
as well as local laws, repayable part
interest and part principal monthly.
You have an ownership in every mort.
gage We have. The State law of Cali
fornia specifically states that Building
and Loan Association stock is abso-
lutely worcestershire. This is not true
of other California corporations and
places the onus of mismauagement up
on the directors.
Third-We are a corporation with a
permanent cash capital paid In by its
directors. managers, etc, subject to
the State authorities. inspected by
their commission ito see that We con.
form with the law) and give our stock.
holders an equal division of profits
Why? Because II pays to do so. 1t in
creases our loan field.
Fourth-Our directors have plenty
of money for peoples homes whenev-
er the stockholders dues will not &C.
Commodate them.
We are limited corporation. as far
as you are concerned as a shareholder
tno liability to you), but the responsi.
bility OF the future of the Company Is
on the management and its Reserve
Fund. One measure OF the success of
the dividend column of the corpora.
tlon Is for you to speak well as share
holder concerning It; ask some friend
to investigate II, and while we give you
definite proposition, II larger divi.
dends are made than necessary to
make your stock worth par in a GER
tain time, you are the gamer thereby,
II larger dividends are made than an.
ticipated, as you are entitled to II
whenever 1t does reach par. The larg-
er the number of investing stockhold-
ers, the larger number of borrowers
We will reach thus enabling us to OBJ
tain money on the coast at five and
six per cent and re-loan and compound
1t at a higher rate, giving the stock.
holders the surplus profit made.
With cash put up to guarantee, with
law that compeIs 1t, with directors
who would do so no matter what tho
law, or what cash is up don't you
think We can guarantee? II not, call
and we will convince you,
List of Directors, Managers and Re.
serve Fund Stockholders of the Phoe-
nix Savings. Building and Loan Assn:
A. A. Watkins, vice pres. w. w. Mon.
tague & Co. and president Board Gf
Trade, s. F.; Charles r. Bishop Qate
Of Honolulu), vice president Bank Of
California, s. F., director Savings and
Loan Society, s. f., and Calf. Title
Insurance and Trust Co., s. F.; S.
Prentiss Smith, late asst. cashier Bank
of California, s. F., dir. the Natianai
Bank of ID. o. Mills, Sacrament1; Gee.
CsBoardman, gen. agt. AETNA lns. Co.
s. f., director San Francisco Savings
Union; Charles E. Ladd, Of Ladd e.
Tilton, bankers. Portland, Ore; Gavin
McNabb, attorney at law; Clarence
Grange, late Building and Loan Com
missioner of Montana, man. dir. Equi.
table Savings & Loan Assn, Portland,
Ore; Theo. b. Wilcox. pres. Portland
FIGURING Mills, Portland, Ore; r. r.
Hoge. of Hoge & Swift. mfg. sgts..
Portland, Ore; s. M. Mears, pres,