The Greeley tribune., 1903-10-08
(UILD HOMES
Irr1EY B. & L. ASSN HAS
A FINE RECORD.
|. Years in Existence-$6o,
[,oo Assets and No Losses
purely Mutual Affair.

Purely Mutual Analr'
,,slar has an Institution, not so
tnown as it ought to be, that Is
rr more toward making home
rsr, in Greeley than any other one
l,M Reference is had to the
lsIsv Building and Loan associa-
which has been IN existence
S,v nine years, has rssets OF over
aM has helped build or clear OF
[,rase about sixty Greeley homes,
at nresent has % stockholders and
income Of about 81, 200 a month.
busiuess was handled last year
n eyOensc Of only s204. The as
,tion is purely a mutual one with
bivb priced officers or Other graft
IN eat up the profits, and every
nber is assured OF his full share OF
nro-ts The record of the asso-
lon is in every way an enviable
Composed entirely Of Greeley
ple and making loans only ito
eey people, with nothing put i'm
red Greeley real estate for secur.
il has never had loss nor fore
ed oan, and has no delinquent
IOwers. The first series OF stock
series is issued each year will
(ure about next July, and the
bters Of that series will have
in $50 and drawn out $1,000, a
profit Of $3.50 on their Investment,
better than ten per cent pei year
khe average time their money was
sted. Those who borrowed mon
rom the association on stock OF
first series will at that time own
homes free of debt.
br the benefit OF our readers who
ut understand fully the workings
building and loan ASSOCIATION, a
explanation of the plan may be
Interest," In a local association,
is, one which operates only IL
home town, a number OF persons
nze themselves into an associa-
and stock is issued to each men,
DO such amount, as he desires,
$500, $1,000 worth or more. For
800 share he holds, he pays into
tleasury so cents the first Mon.
Oh every month. The fund thus
LED by the combined monthly
pents OF all the members, Is
eo TO such of the members as
10 builu or purchase a home.
ieIe are two or more applicants
ioans at the same time, they are
co In the order of their applica-
> The stockholder, as soon as
uf'OWs money from the associa-
pays certain sum per month as
iesl IN addition to this monthly
pymento Of SOC per 500. Thus
INe ufeeley association for every
Ut ootIows he pays ninety cents
pa'n Interest and fifty cents a
III Stock payment. or Sl.40 a
" Total The ninety cents in
soes to make the earnings,
y ale apportioned equrlly among
VIA number of shares OF the as.
NUN STOCK, When the monthly
'suVS on each share, together
',e net earnings accredited to
'nale, amount to 800, that
Sa'n to have 'matured," the
paid to the shareholder, and
a'.ouht closed; or IL the share
IL las borrowed money from the
.u 'u.lon MS debt is paid and the
"e. ~ mortgage Is returned to
ihe actual time it takes to
WE stock in any association
"hewhat, depending on the
~ ", 'O' loans, ETC., for idle money
,,.i W. pfonts, In Greeley 1t 10
Tu ,,a based on past experience,
nv Su, ,~ohths, a little over nine
.na ' mature a series. The
4 A. ,tO tOf loans here has always ex-
tto,s "e supply of money, and the
,nn', ' nave thus been able to select
p"Vaots p. who were most likely
|, ''On9t n in their monthly pay
bO nofIowers secure the asso-
krv W INST mortgage on their
tho "'ilch must be worth more
bse, SUN SUN loaned upon 1t, and the
plomn. n'SC also have a reputation
~ payment of his obliga-
outbl,p p'tSoh who wants to make
wbo. saving of a part of his
le beSt ~ WIZ he Just as safe as
Is tb,. III, oaaIi and earn him larger
ban @. ~, the banks pay and for
VI modest no,,,