The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-10-23
SAFE AND SOUND.
Verdict on Aetna Building and
Loan Association.
Result of Detail Examination by
Oklahoma Officials.
NO RECORDS BETTER.
ID, 200 Stockholders Interested
in the Association.
Encourages Thrift Says Com
missioner Young.

An exhaustive and detailed report
OF an examination made by the bank
examiner of Oklahoma. OF the con-
dition and standing of the Aetna
Building and Loan association of To-
peka. has just been received by the
officers of the association. me
examination made by the auditor from
Oklahoma required forty days OF
strenuous work to check up the entire
Loan association. Alexander R1ch-
mond. examiner in the bank commas
Eioner's office at Guthrie. was detailed
to examine the records.
The work was commenced July
and completed August 9. After the
receipt of the examiners report A. M.
Young bank commissioner for Okla
homa, sent a communication to John
Q. Royce, secretary of the Aetna
Building and Loan association stating
that the financial conditions of the
association were entirely satisfactory
to him and any statement desired by
the officials Of the association would
be gladly furnished.
For several years the Aetna Build
ing and Loan association has been
transacting business in Kansas and
Oklahoma but 60 per cent of the loans
on real estate are placed in Okla
homa. For that reason Commissioners
Young decided the people of his state
should have some official knowledge
of the financial standing of the big
association and consequently caused
a searching and thorough examina-
ton, and the voluminous report to be
made.
Growth of the Association.
The report made by the examiner
shows that the Aetna Loan Co.. was
organized October 10, 1891 with a
capital stock of $1,0OO,G00 and i'll
June. 1899, when the name was
ANfr phil
Loan association. the capitalization
was moved up to s10.000.000 to meet
the ever increasing business OF the as
sociation. 1t has since been increased
to $20000,000, its present capital
From a mere handful as stockhold-
ers in the Aetna Building and Loan
association, the number has increased
until now over $4,000 wage earners
are deriving benefits from the as
ISOLATION.
Stocks of the Aetna.
The examiner made report OF the
three different kinds of stock which
the Aetna Building and Loan associa-
ton has recorded on its books. The
installment stocks, the largest item of
the associations liabilities reaches
the enormous amount of $2,039,S 80.
This stock is. within the reach of every
wage Garner.
The dividend stock amounts TO $780,
c715C and pays a dividend of per
cent per al1nu1n, pdNdDl0
The sale of this stock is not solicited.
Capitalists are eager to purchase this
stock without any effort on the part
of the association officials to dispose
of it.
The deposit stock is a small item
compared with the dividend and in
stallment stock, only so 1864 being
held by individuals and the dividend
on this stock is per cent per annum.
Where the Money Goes.
The report shows that from the above
sources the Aetna Building and Loan
Association secures the funds to be
held and invested for the stakeholder.
The handling of these various funds in
a conservative and safe manner IS the
duty which devolves upon the officials
of the association.
To stand ready to invest this money.
yet to be able to furnish assistance to
the needy stockholder, to furnish am
PIE security for each investment, re-
CURES the ability of shrewd business
men and capable advisors.
OF the 81, 339. $685. assets of the Aetna
Building and Loan association, 81, 49,
$50 63 is loaned on real estate, $46,-
1896 has been loaned on stock GER
tif1cates, real estate worth $S6351. 50 is
manning $4,000 or more is divided over
bills receivable, accounts receivable,
cash on hand and in banks and Offices
ard furniture.
Control OF Loans.
The Aetna Building and Loan Asso-
citation will loan to the stockhold-
er sums not to exceed 50 per cent of
the withdrawal value at the time of
the loan. About $4,000 has been loan
ed to stockholders on that basis and
the revenue in the way of interest on
these loans amounts to about $1,000
annually.
Loans in force at the time of the
examination of the records of the
Aetna Building and Loan Association
by tho Oklahoma bank examiner show
ed total of S,71s. aggregating s2,1z9,-
e99. 80.
No loan is made on real estate until
the special examiner of the association
has passed upon the value of the pro-
perty and has been approved by the
entire board of five directors of the
association is booked 25 per cent be-
low its real value.
Official Statement.
The reorganization of the statement
of the financial condition of the Aetna
Ruilding and Loan Association. as com
bank examiner from the commission
er's Office OF Oklahoma, is as follows:
ASSETS.
Office building account. 100000
Real estate loans. 2149. $50 So
S siiss re lSans s1Ss s
Taxes and insurance advanced
for borrowers. ................... 1855 43
Real estate. ACKNOWLEDGEMENTS. Sc. 351 SO
Cash on hand and in banks-.... 10, 90
Accounts receivable. :......-..... 451293
Court cost deposits. foreclosure
cases ACKNOWLEDGEMENTS. 121OS
Total 50 3Ss. 6555
LIABILITIES
Installment stock (trustee ac-
COUNT .........: ACKNOWLEDGEMENTS 66,44721I
Installinent stock. . OS9 S54 80
Dividend stock. ACKNOWLEDGEMENTS. 169, 81 so
Deposit stock 10.7S6 A
Interest due on dividend Stock. 167 so
orepafd stock N