Albuquerque daily citizen. [volume] (Albuquerque, N.M.) 1895-1903, 1902-03-15
RAPID GROWTH
Montezuml Savings, Loan and
Building Assoclation-New
Series of Stock.
CITY MANAGER TILToN.

Mr.. H. II. Triton has assumed the
management of the city business of the
Montezuma Savings, Loan and Build
ing association.
Mr.. Tilton needs no introduction to
the public. He is well and ~favorably
known. having been for a long time on
the staff OF this paper, and we know
his ability and worth and congratulate
the MonteZuma on securing his SER
vices. He is particularly suited for the
building and loan business; is entirely
familiar with property values in AlDu-
querdue and knows tne economy of
building better than any other man in
the city, having had built for himself
more than a dozen dwelling houses in
the last two years.
On learning that Mr.. Tilton had as
sumed the management of the Monte
yuma. a Citizen reporter called to see
him at the office of the association. No.
220 West Gold avenue, and found him
busily engaged with his duties. IL &C
cepted the. position" Mr.. Tilton stated.
because ii is the kind of business that
| like. | have had more or less to do
with building and loan associations for
the past fifteen years, serving as a di-
rector, appraiser and auditor at differ
ent times. and believe | know the bust
ness. Again. there is a future for the
business in New Mexico and the plan
of the Montezuma is up to date in ev-
cry way and its management Is pro-
gressive. Ii has net with what you
might call phenomenal success and its
business grows with each month. The
field is an excellent one and, with the
numerous good things that are coming
to Albuquerque. the city is bound to
grow and the Montezuma will grow
with it,"
AS Mr.. Tilton says, the success of
the association may be called phenom-
email. During the year 1901 it sold 81
SOL shares of stock. OF that number
$40 were withdrawn and cancelled,
making a net gain of 8.o31 shares in
force; it had 500 $50 in first mortgage
loans On improved real estate and it's
other assets made a total of $4,000.
The assets at this time are over S42,-
600.
The members may well feel proud of
this showing. A comparative statement
shows that the net gain of the Monte
yuma in new business (shares in force)
during the year is more than three
times the net gain of all the other
dDootlotloho III IL iiIcIy
The net gain in assets is greater than
any single association in the territory
during its fist years business. The
shares in force are more than two
thousand greater than any single asso-
citation in the territory. The monthly
receipts are more than one-third great
er than any other association in the
territory. The Mutual shows the larg.
est gain in assets of n association.
The Cooperative would have shown
an equal gain but for the fact that II
paid off a matured series of its stock
These associations are doing more for
the permanent up-building of the south
west than any other n agency.
) '"The association will continue along
: the same progressive lines as hereto
I fore" continued Mr.. Tilton, Exercising
) the same ~precaution in making invest
Z ments. No change has occurred in the
( dictatorship. Messrs. F%lournoy, Hub
) bell. McMillen, Baldridge and Gillen
Z water constitute the board. Messrs
, Flournoy and McMillen have exchang
} ed positions, Mr.. McMillen taking the
I presidency and Mr.. Flournoy taking
s Mr.. McMillen's place on the board.
) believe the members of the associa
Z ton feel entirely secure with it's bust
( ness directed by these men,"
yes, the association has authorized
: a new series of stock and | will have il
ready for issue Monday and expect lib
eral subscriptions.
"Mr. Summers will remain in the of
flee indefinitely or, at least, until | an
familiar with the Office detail.
1T will be necessary to call a spec
ial meeting of the stockholders at ono,
in order to increase the capital stock
The authorized capital is $1,000, 900
and we now have nearly that amour
of stock in force.
mo, | will not do any building
through the association. II | desired
to do so the strict law governing thes'
institutions would prohibit me, occupy
d ing the position with the association
d that | do now"
h When the association was organized
l. The Citizen predicted it's rapid growth
d 1t occupied a waiting field. Our legis
h lature had just enacted the Nesen
building and loan law and the Colorado
d associations that had taken hundred
d of thousands of dollars from our terri
d tory and had loaned but little in IL
e withdrew rather than comply with tn
It strict provisions of the law. Its cor
4. tinued growth is assured. Our terri
tory is now witnessing an era of deve
0 opment and prosperity never befor
e. known.
Mr.. Tilton may be depended upon I
produce the best results.
ha.u...- N-o