The Lafayette advertiser. [volume] (Vermilionville [i.e. Lafayette], La.) 1865-19??, 1909-01-19
LAFAYETTE BUILDING
ASSOCIATION.
A Most Prosperous Institution
and Material Factor in Local
Development.

The Lafayette Building Associa-
tion stands foremost among the Build
| ing and Loan Associations of the |
State, if it is not really first in point
OF success and growth. Other institu- !
tions may have larger capital stock |
invested, but none can boast of a |
more successful and substantial |
growth and development as appears
from the ninth annual statement
quoted below. Organized Feb. Il, /
1900, the association at once proved |
] itself an important factor in the ma
terial development of the town and |
parish. Under the system adopted.
not only was opportunity afforded
many young men to build homes and
! linaugurate business and industrial en-
terprises, but safe and profitable in
| vestment was provided for surplus
capital. AS an attestatlon of the fact,
no better reference can be made than
to many cozy homes that have been
| acquired by people of moderate means
through the system of long and easy
payments.
1t seems contradictory business
proposition to say that borrower and
investor are mutual beneficiaries un-
der the system, and yet such is actu-
ally the case as may be easily demon
strated in concrete examples and fig
ures that do not lie. Many a poor
man with no credit and therefore un-
able to buy or borrow has through
the building and loan plan been en-
abled to secure a home and thus, as it
were, get upon his feet in the world
and feel that he stands upon ground
he may call his own. Aside from the
material improvement incident to
home building, is the fine influence ex-
erted upon the lives and characters of
the young men and women. who will
soon shape the destinies of our coun
try for veal or woe. No man with
family and home will ever become an
anarchist and surely no sane person
will ever attempt to destroy the fabric
in which is interviewer his own pros
perity and happiness. These and
many other equally strong cor sldera-
tions are most potent arguments in
favor of the home building plan. Why
should man pay rent all of his life
and have nothing, when by joining the
Building and Loan, he may acquire a
home by paying monthly installments
but little greater than the rent bill.
Another admirable feature of the sys-
tenn is the savings bank department.
Any boy or girl may take stock and
by paying in small monthly INSTALL
ments gradually accumulate q capital
upon which interest is continually
compounding. In case of necessity
any stockholder may withdraw his
investment with premium after one F.
year, but if in less time he gets only
his principal back.
The Lafayette Building Association
has now over 1850 shares of $500 par
value in force, on 479 of which loans
have been made. Over 900, 1000 has
been invested in homes, while over
$40, 600 has been earned in dividends
for stockholders. The assets are now
$94, 600 and the business is rapidly de-
veloping as the people get better ac-
quainted with its plan. AS indicating
the desirability of this method of in
vestment the following from the last
statement is given: series matured
Oct l, 1908 with Isl shares in force;
amount paid in per share S112.50;
book value $202.74; profit per share
$9O.24, indicating 20 per cent interest
for the average time of investment;
series 2 matured Jan. l, 1909 and
showed the same rate of profit. These
figures are indeed exceedingly attrac-
tive, but the strongest endorsement of
the good work accomplished by the
association, may be seen in the many
,, happy and beautiful homes scattered
throughout our town and parish. The
subtantial character and reliability of
the association may be ascertained by
glance at the list of stockholders
and the names of the gentlemen who
now direct its affairs. The following
are the officers; a. p. Depbo, presi- !;
dent; A. ]. Leblanc, vice-president;
I. M. Biossat, Jr., secretary, s. Z.
Psrkerson, treasurer; o. G. Mouton,
attorney; G. D. Caffery, notary.
Directors: A. B. Denbo. A J. Lei
Blanc. c. D. Caffery, DIR. N. p. Moss.