The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1904-06-04
a WORTHY ENTERPRISE

y
onstrated in Caldwell. About a
year ago the foremost business men
of the city organized such an asso-
citation upon liberal and just basis.
the two-fold object being, first, to
encourage and assist in the erection
ofsubstantial and comfortable homes
within the corporate limits, and
second, to afford profitable invest
rnent to people of small as well as
large means. The organization is
known as the Caldwell Building &
Loan Association and is capitalized
at 81 900, 900. The directors are
Howard Sebree, president of the
First National Bank; Chas. S. Doan,
merchant and capitalist; A. K. Steu-
nenberg, cashier of Caldwell Bank
ing and Trust Co.; J. H. Lowell, real
estate broker; John c. Rice, lawyer
and capitalist; A. F. Isham, presi-
dent Of the Boise Valley Creamery
Association; R. A. Cowden, presi-
dent of the Central Lumber Co. and
cashier of the First National Bank ;
w. Fl. Roadway, merchant and cap
italist; T. K. Little, Merchant and
Mayor of Caldwell. The officers
are Howard Sebree, President; c..
S. Doan, Vice president; A. K. Steu-
nenberg, Secretary; J. H. Lowell,
Treasurer; John c. Rice, Attorney.
The foundation principle of the
Caldwell Building and Loan Associ-
alton is to gather the small savings
Of a large number of people and
create fund which may be loaned
to other people who desire to build
homes. The terms upon which
loans are made are as follows:
An amount equal to 60 per cent of
the value, land included, of the pro-
posed improvement will be loaned
to an approved borrower. If, for
example, a man owns city lots val
ued at $500 and wishes to erect a
house worth $1,000, he may secure
loan of 5000. He liquidates the
loan by monthly payments, gradu-
ated so that the obligation, principal
and interest, is wiped out in abou;
SO months. The interest rate being
10 per cent per annum, little cal.
culation will show that the monthly
payments necessary to wipe out the
entire obligation are little, if any,
greater than would be the monthly
rental on the property. In a word
by paying a sum equal to average
rental, man owns the properly al
the expiration of a little over sever
years, whereas by renting he would
have acquired nothing.
The investing feature of the bust
ness is quite as profitable, and the
payments for stock made easy, The
stock is represented in shares o
$Ioo each. In order to secure {
share the investor pays 90 cent.
monthly for SO months, making al
aggregate payment Of 5000, thu
interest accumulation makes up thu
500, so that at the end of SO month.
the stock is matured, the $Ioo paic
to the holder and the certificate can
celled. If for any reason the holde
of stock may wish to realize upon i
before maturity it will be taken III
by the association, the holder re
ceiving all the money he has paiC
in together with the earnings
These are the general features, ant
they must commend themselves t
both borrowers and investors. The
enable the one to secure comfort
able home on easy terms, and tn
other to place his savings to gooc
advantage.
The Tribune takes especial pleas
ure in recommending the Caldwell
Building and Loan Association t,
Its readers, because it is purely
home enterprise, and it has at hear
sound philanthropy. 1t designs tt
help worthy men and women to hell
themselves; it furnishes the oppor
tunity, and it is directed by men o
known ability and proved bushes
integrity. tits no alluring get-rich
-