, 1907-08-01
CHEYENNE ASSOCIATION Sue
CESSFUL, TOO.

The following excerpts from the an
nual report of d. A. Jones, retiring
secretary of the Cheyenne Railway
Employees Building and Loan associa-
ton, will be read with interest here,
Mr.. Jones, who formerly lived in Lar
annie. having been largely instrumental
in the formation of the Capital City
association His references to our
own association are very gratifying,
and their truth is unquestioned. Lar
ME is a city of wellkept and happy
homes today, largely owing to the sub
stantial BENEFITS which have been and
are still being derived from its careful
ly. economically conducted building and
loan association. Mr.. Jones spoke as
follows:
This association has grown from
$4,000 in IL in 1902 to over
$225,000 up to and including the 25th
of June. 1907. Our actual expenses for
conducting this business for salaries OF
secretary and auditing committee, as
well as printing, advertising, supplies.
and all other expenses has amounted to
but $755, which we believe will read
lily be recognized by the stockholders
as a very small item for an institu-
ton representing over 1925 900 in re-
sources.
Our actual earnings as shown by
this annual report are Tx per cent for
the average time that money has been
in use. Using our present and past
earnings a q basis for future progress
We can safely count on los months or
nine years to mature any one series,
Our average premiums The past year
were lilo of l per cent in excess Of the
last annual report. The present year
shows the largest earnings with one or
two exceptions OF any year In our his
tory. For the year ending July rs,
1906, our earnings were shown at
IL 3-5 per cent, while our first year had
a greater showing than the one for
1905. However, for the first year, there
was some stock which was not counted
when the apportionment of profits was
made, while IL 1905 there was 1853
shares OF the dead stock which were
cleaned off our books, This had a ten
dency to show an increased percentage
for our earnings account for the first
and fourth years, a portion Of which
earnings legit!mately belonged to 9th,
er years. Taking these facts into con
sideration the ear just passed has in
reality been the most profitable in oui
history, and there is no reason why
such success should not continue to
crown the efforts OF the stockholders
as long as the business is properly safe
guarded n correctly handled, with
full attention given by the executive
officers 10 all details of the organiza-
ton so as to always be on the lookout
to see that every advantage is taken
on every point which would tend to in
crease of earnings.
The officers of the association who
served without salary are certainly en-
titled to the thanks of the stockhold.
ers for their zeal in promoting the wei.
fare of the organization. Its success
has been effected at a personal loss
OF time from their own business at.
fairs.
There is no reason why this associ-
afinp ponpnf continue 10 H. nc c,,nnAe-
full in the future as in the past. We
are practically at the present day just
entering upon the possibilities, and the
citizens of Cheyenne are evincing that
interest which will certainly tend for
the further advancement Of the organ
ization. Some who have not under
stood the workings of the association
have stated that while III success has
been remarkable, so far, that it is
hardly safe for us to say that We can
continue this success for any number
of years in the future. Take the case
of our sister association in Laramie
as an example, and the possibilities of
a home association legitimately con
Quoted are clearly presented. Laramie
has had associations formed upon the
serial as well as present perpetual plan
which have been operating for about
twenty-five years. The Laramie asso-
citation also has passed through a per.
Tod Of hard times, from 1893 to 1898,
and met with what appeared at that
time to be the blasting of their hopes
as to the then apparent prospect Of the
progress Of their city. by reason Of the
shutting down Of the shops and rolling
mills. as well az the closing Of the
glass works. and other industries which