Goldsboro weekly argus., 1909-03-11
BUILDING AND LOAN.
Last Nights Annual Meeting
of Stockholders.
Secretary's Report Shows treat Value
OF Association In City's De-
VelOpmeHt: All Old
effiCeFS Re.
Elected.

Association held it's annual stockhold-
ers' meeting last night, at which the
report of the secretary was read, CIV
| ing in detail what the association has
accomplished in the three years of its
existence; and especially making
plain and emphasizing what the asso-
citation is capable of accomplishing
and what it could accomplish if every
person IN Goldsboro able to invest in
it's shares of stock would do so.
And with the showing that the sec
retary makes in his annual report, the
| investments made in home-building
and the security of the investment and
the dividends returned to the stock
holders, it is simply marvellous that
it's shares OF stock are not taken the
moment they are put on the market in
lnew issues.
| But with the showing made by the
secretary in his report last night
which we publish herewith, it is to be
expected that from this date, hence
forth, the Goldsboro Building and
Loan Association will make giant
strides in stock issuing and home
building unto a Greater Goldsboro.
| The secretary's report is as follows:
| Goldsboro, N. c., March 8, 1909.
To the Shareholders of the Goldsboro
Building and Loan Association.
Gentlemen: In compliance with the
bylaws, herewith present the annual
report of your secretary and treasurer
covering the third year of our associa-
ton.
| During this year we have issued
| four series of stock, consisting of 272
fshares, issued to thirty members. We
now have 739 shares in force and a
tai membership Of SO.
| Our members have paid in during
| the year weekly installments amount
ing to $9,0S7, and in interest and fines
s971.74, making a total of $10,O58.74.
| At the time of our last annual meet
| ing we owed for money borrowed ST.
500, and have since borrowed $1,S00
all of which has been repaid except
81 100.
We have made five new loans
amounting to S6,SOO, making altogeth-
er % mortgage loans since organiza-
| ton, which means % homes built or
| improved These loans are al secured
| by first MOI tgages on real. estate sit
| uated in G0ldsboro. In addition tc
these mortgage loans we have made
four loans on stock amounting to $500
of which 5000 has been repaid.
Since our last report we have pai6
to fifteen withdrawing members the
sum of $1,S29, which includes $57.5(
of profits.
| We have had no trouble in keeping
all of our funds loaned out, and a
Epresent have applications on file
Iamounting ttD about $4,000.
While tEi>~ report does not show The
enlargement si.ac we had hoped fol
during tho past year, we are yer.
much graEifed at the showing ou,
tprofit and loss account has made. At
Itached hereto AZ j made part of thi
report are e x&ole of shares and val
lues and a oetaii-t statement of earn
Iings for the year After deducting al
fexpenses and taxes our net earning
for the year amount to $S15.17, whic
fadded to our surplus bring our tota
met earnings for the three years up t
f$1,322.65.
Our last annual report showed .ha
our shareholders profits for the tirs
two years amounted to 5 1-3 per cen
per annuTn. Our earnings for the yea
just closed have been great enoug
to bring the rate up to small fras
;. ton above six per cent. per annul
: :, for the full three years.
Our county commissioners and eli
aldermen at their last meetings vel
MO oofad uyicnIv in oiuino If tho RIO