The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-05-16
Sage Says Put Your Money into Real Estate. " Hkp
HOMES CAN Be HAD
a New Company Formed for the Pur,
pose Of Purchasing Homes on Small
Monthly Payments. s.

( 4
There have been existing in this state
several cooperative home companies, OPP
Grating on a more or less successful plan
for several years. ~ We are now glad to
call our readers attention to g. local COM
pany Incorporated under the Minnesota
laws, a company adopting the cooperative
principles which have been used in Eng
land for many years. u S. 5
This company Is located In st. Paul,
with an office in Minneapolis, and is
known as the Northwestern Consolidated
Home company. III
They have a capital OF 100000, and are
officered by some of the best men OF the
state. In order to assure the people that
the money handled by them will be
properly used, they have appointed the
Security Trust company Of st. Paul,
Mimi. as their trustee, giving the trust
company absolute control Of the purchase
money. All money is paid direct to the
trust company, or their agents, and all
distributions are made by them.
In order to protect its members in event
of death, the Northwestern has made ar
rangements with q reliable insurance
company to carry life insurance on all it's
members at a. figure that could not posi-
bly, be obtained by an Individual
We believe this company is offering a
contract unequaled by any one, and upon
the terms they offer, any man Of limited
means, can secure a home. An yone can
pay $3.50 a month for a few months, until
he is given the money with which to buy
a home, when his payments amount to
$3.50 a month, on each thousand dollars
loaned, an amount far less than he can
rent the same home for, and this amount
also includes life insurance policy which
will pay up the Indebtedness on the home
in the event of death. II death should oc-
cur before the loan is made, the insur-
ance is paid In cash. This company's plan
is to do a large volume Of business, and
make very small profit on each contract,
and every salaried man who does not own
his home, would do well to investigate
the opportunity offered by this company
to secure a home on small monthly pay
ments, as there is no interest charged on
the unpaid balance. This company, in
collecting the general fund to be loaned
its members without interest, is doing for
| the person borrowing money, what no
bank can do, as they pay interest on their
deposits, and must loan at a higher rate
of interest. The Northwestern CONSOLE
dated Home company collects without in
| terest, a general purchase fund, to be
loaned members in, turn without interest
Making charge Of 800 per $1,000 loaned
! which Is deducted from payments at the
] rate Of $3.50 per year.
The company befrfends the people OF
| limited means by not issuing a contract
/ to any one pera' for more than 81, OO0 II
a person was permitted to draw as large
an amount as he might choose from this
| general fund, the monied man would draw
such large amounts from the fund thai
the person Of moderate means would have
to wait a long time for his turn. Bu1
the limiting Of the amount, with the othel
desirable features make the contract Of
the Northwestern Consolidated Home
company, a very desirable one.