The weekly Iberian. (New Iberia, La.) 1894-1946, 1905-01-28

idtt btcN some 10rfcltUrpS this
year but most Of them have been
redeemed especially where proper
IS was involved, hence our profit
from forfcitures is, we are glad TO
say, decreasing.
After much consideration, vour
Board Of Directors decided 0 is.
sue Paid Up Stock, bearing tIree
per cent interest. The first ISSUE
OF $4,000 was subscribed IN a
comparatively short time, and the
second issue Of like amount was
authorized. But for this Paid Tp
Stock, the A sS0ciation would have
been compelled to borrow at least
$4,000. The operation Of this
stock IS very similar to that of
the ordinary stock Of the Associa
ton as regards withdraw ais.
Some OF it, of course, cams inter
est while some is withdrawn be
tore the SIX months interest
period is reached.
The proportion of shares
pledged for property loans is in
all probability greater than ever
before IN the history of the Asso-
citation In 1902, the percentage
of shares pledged for property
loans was y per cen. OF the
shares in force; i'll 1908, 80 per
cent was pledged for loans, while
on the 3lst OF December, 1904, 80
per cent of the shares are pledged
for loans.
Although III. shares were is
sued during the year 1904, the in.
crease i'll the stock OF the ASsO
ciatlon was only l0t shares, show
ing Il great number of withdraw
ais, though lart of the cancella.
tons were due to maturing shares
and a few to fogfeitures. While
the increase of the shares in force
has been only l0l, the increase of
shares borrowed on has been 1872.
Despite the fact that the Asso
citation matnred pa shares, pay
ing out in cash Oh matured stock
approximately so 900 and in
property $4,000 the increase of
aesets of your Association for the
last year was S73, ,423 %, showing
a steady growth and that the AS
sociation deservedIy enjoys the
highest confidence Of our people
One of the most popular fea
lures of the Building Association
is its system Of lending money to
its stockholders on pledge Of
stock You will see that TO day
there IS loaned out to its Share
holders on note, *G,3O7 so.
There has also been a slight in
crease in the expense of conduct
ing the Association. This can be
expected as the assets grow, there
by increasing the LABOR of con
Quoting the business. Every pre-
caution is taken to safeguard the
shareholders interest.
The Directors, considering that
quite a number Of our stockhOld
ers and borrowers are from Jean
erette, have decided to have two
repositories, one in Jeanereta,
the other in New Iberia. In order
to as far as possible eliminate
everyo possibility of loss, they
have insured the5 deposits in both
of these banking institutions,
and in future, whatever bank or
banks carry The deposits Of the
Association, she deposit will be
gdaraIteed by a policy of insur-
ance in favor of tie Association.
Every asset of the Association
is cut down to the bottom figure,
and yOur bonds, which to day are
worth OH the openH market about
s2I, 900, are carried at their par
value of $4,000. Eacho year the
Office furniture and fixtures is cut
down $3.50. and it is tie idea and
intent never to initiate your assets
which to day are very nearly
100000.
1t is most gratifying to know
that ID almost every instance
should a borrower again need
money. he will come to the Iberia
Building Association for the loan,
~ Al