Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1906-05-31
TIE LOAN ASSOCIATION.

The Secretary has completed bis Thirty
fifth Annual Report for the Department
Of Banks and Insurance for this State.
This statement shows that the receipts
for the past year were as follows: Bal
ance cash last report, $l07I As monthly
dues, S57, 1859 80 interest, SIS, ,288. 81
gross premium, SS96l 50 fnes, $I66. IS
rents, $1554.60 mortgage loans repaid,
S3S. l25. 90; mortgage loans cancelled BY
matured shares, $ll 800 stock loans re-
paid, $l647 stock loans cancelled by
matured shares, S400 real estate sold,
1856. so return OF taxes, insurance, ETC.,
1870. SO; accrued value new shares issued,
So. Is; interest on average daily bank bal
ances, S77.74; sale Of timber, $550.0O.
Total receipts, sl44, 63234 The expen-
ditures are shown as follows: Loans on
bond and mortgage, $50, 1876 81; loaned on
shares, 1886; dues repaid on withdrawal,
S26, $50. so; profits paid on withdrawal,
So. 199; paid matured shares in cash and
BY cancellation of loans, $Sl, 800; interest
on same since maturity, s3l .66; taxes, re-
pairs and insurance Eot chargeable to
borrowers, $2l3I. 81; taxes, insurance, etc,
for borrowers, S3, ,326. 3S; salaries, 1895
commissions, S4S492; rent, $3.50
advertising, stationery, printing, post
age, light and fuel, $2o7, ,56; tele-
phone, $43. .25 premium on Treasurer's
bond, $4,000; conveyancing, etc, s47. 81;
Department report, 5000 timber suit
damages, $544 %; return Of premium,
$l422. 10, making total Of expenditures
OF SI33, ,So7 81, and leaving each balance
of SIC, ,S24 81.
The assets of the Association are given
as follows Loans on bond and mort
gage, first liens, $3o4, 1895. 70 loans on
bond and mortgage other than first liens,
$9, 500 loans on shares Of Association,
s2325 cash on hand, Slo,824. .67 real
estate owned, $26, ,0Sl 80 turnituse, etc.,
500 dues unpaid, So, 360:66 interest,
81, 197. .23; fines, sl31.s7; taz zas insurance,
etc, paid for borrowers, 1884 ~. Total,
s38l. .901. 80. The liabilities are stated as
as follows Shareholders, for dues paid,
$2Ss. 06S. 90; due shareholders profits ap-
portioned, Sd, 766 80; advance payments,
$14S5. SO; uaiearned gross premium, So
345. II; undivided profits, Q so; rent, COM
missions, recording, ETC., unpaid, $505. -;
estimated sewer assessments on real es-
tate, SIPS. 90 estimated unpaid taxes,
$4,000; salaries to auditors. $50 90; con-
tingent losses, estimated, $1,000 Total
liabilities, $36l, ,9o1.99.
The report further shows that the
largest mortgage loan on shares outstand-
ing at close Of fiscal year is $4,000, and
that loans placed during the year have
been within the distance Of l6 miles from
Woodbury.. Thirty-one houses have been
acquired during the year by members
through loans from the Association. The
total amount of straight mortgages Is
given as S2l ,821. 70. There were no fore
closures during the year, and all with
drawals were fully paid.
The number of members at beginning
Eof YEAR 7S7 /; number admitted during
wear. IlO number whose membership
ceased during year, l08 number at end
of fiscal year, 7S9. Number OF borrowing
.oers, Psi shares held by them,
1871 pledged or borrowed on 1858.
Number of non-borrowing members at
end of fiscal year, 53S; shares held by
them, 1861.
Number OF shares in force at beginning
Of fiscal year, 4,4l63; issued during year,
1881; number matured, 159; Withdrawn,
542$; number in force at end OF fiscal
year, 4, ,4s8B.
The unearned gross premium is stated
as follows
Amount at beginning OF year, s., 939. 80
Earned during year, 54o.4l
Net. So, ,59s. 40
Gross premium during
wear. $3, ,961.52
Earned during year, so6.96 1854. 5e
Total, ................. s7,248o5
An9aps ioa qear, nspaa :. ''O'''a eo2 ss
Balance unearned premium at
end of year,. ........,. 20, 54o-ll
The business for the new year opened
in NAV. with very encouraging demand
| for loans, $500 being sold to nine sepa-
rate purchasers, at premiums averaging
about - per cent, on properties situated
I in Woodbury., Barnsboro, Gloucester City
and Evan. The entire business OF the
month win aggregate about So, 600.