The weekly Iberian. (New Iberia, La.) 1894-1946, 1907-02-02
Some Of the Splendid Features
Of the Secietary's Report
for 1906 Business
Another Higher Notch Set Last
Year as its Banner Mark

has steadily forged ahead al,
stands IL day stronger than eve
The item Of profit show. Il gratif,
!, 'ng increase for the year 1906, Il,
earnings Of the Association bcim
S5'lGS o. IN against &JOG51 80 fu
he preceding year and *lo.33. 3
for the year 1904
The growth Of tho Association
, IS not confined To the profit nc
count Its receipts were greater
than ever before in its history
10 give an idea Of tho magnitude
~ business Of the Associations; the
actual receipts, after dcducting the
cash on hand AT tho beginning Of
the year aggregated, $2l3579 50.
almost a quarter Of q million dol
lars, while there was paid ont
,.'?O00 GO or over a quarter Of a
million dollars. and this money
was handled without a / ss or 4
cent, and at less expense than the
hus'noss Of any financial institu.
ton approximatlng it's size N the
Parish.
The cash on hand at the begin
n'nE Of 1906 was *5l77G.G7 aud at
the end of the year 1t was 1886.
81, and when the maturing series.
-, is li4uidated in 4 few days
the cash balance will be about
$4,000 90 The Association dis
O"rsed IL maturing series a larger
amount than ever before. The
lash paid to Stockholders in the
our maturing series, being &sSOSG
p; and cancelled mortgages on
property Of borrowers amounted
o S23OoO.OO aggregating 1l1OSG.
s. The shares matured number. !.
a $50. "
The Building Association differs r,
rom other corporations in that. !,
mere Is no fixed capital stock and -
soon az their shares reach mar =.
a'ue, they are pad. and the as ~
It's OF the Association materially =,
'd'ced. Despite the payments !,
maturing stock. foundations Of ~
'ans and Withdrawals making q %
tai Of Si270G9.l7, the assets u,
ave increased over 10000 90 ~,
One Of the features adding rr
rcngtll to the Association il its y
'nt'ngent fund, which protects o
Of the shares against loss. The ~
irectors Of the Association have :,
lopted a policy Of adding q small i,
Mount each year to this fund IN
CD . way, that it does not effect
g earnings Of the shares, yet
fe.guards the interests of all on
'e contingent fund is now slO259 ), y"
, being lIO9.07 N excess or the - -
pcedlng statement; loans on sai
'dge Of stock have increased be,
''3l 33; and this method OF Dor an'
wing money is becoming each - y,
' more popular. The total ~
mber OF shares loaned on are bO1
. and The proportion of shares DR.,
rrowed on is greater than ever -
lore, being 334 per cent. Of the
'res IN force, or just abou. one
ri OF the total stock outstand ri
as against 81 per cent. in 1907 n
- per cent. in 1904
Is essential to the earning ~
'o"c's Oh inc association, tn It lar
roper proportion Of the shares t act: |.
Md be loaned on. ~ o, her y ise : and
II OF the money Of the Asso. mc rs
ion will be idle. You will no. r wori
that the Real Estate account s q e
the Association has not ia s sss'2l
sed Although some proper. p pSnel
ia been turned over to tho re H
'ciation. this has heen quickly t e ~ h
Dsed Of. showing the care ex Vi" vi i,
"a ~ the Directors in making
'ney was needed to build a
y house. Strenuous efforts ,mre
made to raise the funds but
mt avail; the Association
appealed to, and after earn. fional ;
consideration, the secnrety &1
satisfactory, the money was
!. The Board considered g Sssss. a
as they could make THE a &C
without depriving' the stock.