, 1903-01-27
AN NUAL
Continued from page -

time was six months. The net gain
was 81 cents. This is equivalent TO
interest at the rate of 10 40 per cent
per annum. By making a similar COM
putation, II will be found that the
earnings in each of the other series
have been just the same. This is a
much better showing than any Denver
association can make, and several resi-
dents of this place who were foolish
enough to subscribe for stock in these
outside associations will be pleased to
verify this statement.
The average premium during the
past year was 10 per cent. Inasmuch
as Is per cent, which is called the
minimum premium, is retained ont of
all loans. and in view of the fact that
all loans may be repaid at any time
by paying the association the face OF
the loan. less this Is per cent. the act
ual premium paid by the borrower for
his preference right in obtaining n loan
is only the difference between ~ per
cent and Is per cent. or 4 per cent,
and this is all that the borrower loses
in case he repays his loan. and this is
the only profit that the association
makes on account of premium.
Our running expenses during the
past year We're S23O.27. We HaaGHcf
SS3.1S1.32. It cost us. therefore. but
little over one-half of l per cent tC
handle this large sum of money. There
Is not another business in the state
that is conducted on such an econom
iCal basis. and | don't believe that any
one can be found who will deny this
statement. Indeed. there are very few
building associations that can make as
good a showing. The National Home
seekers association of Denver charge.
80 cents for investing SO. This is
equivalent to II per cent of the amount
invested for expenses. and does not
include a membership fee of 81 fol
each 81, 900 contract. The membership
fee on each 81 1000 contract in our as
ISOLATION is only $1.25. During the pas
month a mar representing himself t.
be an agent for said National Home
seekers association worked the PEG
pie of this community to the queen.
taste by making representations which
he knew were false. He left the tow
between two days and forgot to pay his
board bill. Experience is a dear school
but fools don't learn in any other
and it is just as true now as it was il
the days OF our fathers that "a foo
and his money soon part company.
Keep your eyes open and you will fine
"sharpers" running hither and thithel
like stealthy mountain lions, seekins
whom they may devour. Dc bushes:
with your ~neighbors, whom you know
to be honest. If you do business will
~swindlers and get the worst of it dom
expect the sympathy of your neigh
bors. Remember, too. that not ever!
company which calls itself n "buildin:
association" deserves to be called by
that name. Building associations hav,
become so popular that all kinds o
promoting schemes and swindles ar.
carried on under the name of buildin;
associations. and they are no more en-
titled to be called by that name THAI
Pattee's lottery. Promoters have
found that a great majority of the PEG
pie can be Observation-Disclosures wa
the first to make this discovery-and S,
they work this scheme for all it i!
worth. Our association is a typica
building association pure and simple
Simply that and nothing more. Their;
are no speculative features about it
We issue no preferred or paid III
stock; everybody is treated alike. ant
as long as the affairs of the association
are in the hands of honest. capable ant
conservative men our continued sue
cess is assured, and there is no safe
investment in the state.
Series No. Z has just been issued
and stock may be subscribed at an,
time during the year by paying "bacl
dues" and interest thereon. By payins
S. per month you will get $3.50 whe1
your stock natures. Stock will ma
ture in from 1OS to Us m%onths-a
least this has been the record of on,
local building associations in the past
- -
able to do in the future is our recor,
in the past. Respectfully submitted
J. H. SYMONS, Secretary.