The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-10-23

homa, MIR. hlCnuoAo caiu. On
+, pleased to report that I consider the
books that have been kept by this as
| ISOLATION more complete than any as
/, ISOLATION that 1 have heretofore ex-
amined. The method Of bookkeeping, |
am frank to say, is practically free
| from criticism.
1.-The large number Of installment
| stockholders in the association and the
regularity with which the monthly dues
are paid aggregating each month sum
! in the neighborhood of $4,000, indi-
Gates that a wisely managed building
and loan association is the best means
of encouraging saving and thriftiness
, among people of moderate earning Ca
pacity. There have been thousands of
people who have accumulated savings
| that in time of need, as shown by cor
respondence and papers examined by
| me. prove the wisdom of the plan OF
| saving, as the accommodations were
made by the Individual out of his
necessity or adversely came to the
| home of the family, the stock of the
| Aetna Building and Loan association
was found to be a ready source of boz
| citation itself or from the banks.
Although the bylaws permitted the
association a certain time before it was
required to make payments or With
drawals. yet no demand has been made
that has not been promptly met.
and Oklahoma dealing with the Aetna
Building and Loan association, are
largely indebted to this institution for
the advancement of loans and the
building of homes in the states on very
liberal and easy terms.
"I find economy has been practiced
in the equipment of the office with fur
nfture, that the fee for soliciting stock
sales is $1.25 to $3.50 on the hundred
dollars less than any other association
dniY1zr hrfCinocc ~, nr nlrfo
The officers or employees borrowing
money from the association must meet
the same requirements and furnish the
same security as the humblest stock
f1cers and employees Of the association
are entirely reasonable and in some in
stances Inadequate for the services
rendered.
A Sound Institution.
my examination has consumed
nearly forty days. 1t has been as thor
ough as it is possible to make it, The
Aetna Building & Loan association to
be a sound Institution, it's manage
ment conservative and thorough. It's
contracts are absolutely within the
law and equitable. Its dealings are
fair and honorable. 1t has paid the
investor the highest possible rate of
interest on his money and it gives to
the borrower money. on good security,
at as low rare OF interest ana on as
reasonable terms as it is possible.
I'm conducting the examination /
am indeed pleased to say, that every
courtesy and facility thai it was pos
sible to render has been extended to
me by the officers and employees of the
association"
Upon receipt of this report, a bound
volume of possibly 500 pages giving
minute and exact description of the
condition of the Aetna Building .
Richmond, the bank examiner g
Oklahoma, A. M. Young, bank COM
missioner. reviewed the work of the
subordinate officer and in response
a communication from John @. Royce,
secretary of the Aetna Building
Loan association, relative to the com
missioner's findings, sent the following
letter:
Guthrie, Oct. 16. 1909.
John @. Royce. Secretary, the Aetna
Building & Loan Association, To-
peka, Kansas.
Ny Dear Sir: On returning to my
office today I found your letter of
September 20 and hasten to reply.
want to thank you especially for
that part of your Letter referring to Mr.
Richmond. I regard him as one of the
most thorough accountants in the
southwest. He not only understands
his work thoroughly. but is thoroughly
conscientious in everything he does.
ing department of Oklahoma is ex-
tremely fortunate in having a man of
his capacity.
On account of the most excellent
condition in which he found the affairs
of the Aetna Building & Loan associa-
ton. and also the great courtesy that
you extended to Mr.. Richmond, 1 wish
to say that it will afford me much
pleasure to give you such letter
you may wish in regard to your COM
pany. You are therefore at liberty to
outline about what you want me to
say and l will sign i ans you can use
it as you see proper.
With best wishes. L beg to remain,
A. NJ YOUNG. Bank Com.
The foregoing letter indicates the
friendly attitude which exists between
the bank commissioner of Oklahoma
and the Aetna Building and Loan AS
ISOLATION, engendered entirely on the
strength of the examination and report
made by the officer from Oklahoma. AS
one of the officers says:
THE statements. reports and COM
munication are but reflections of the
Loan Association upon the mirror of
publicity. The actual benefit derived
from this institution is appreciated
most by the citizens of Kansas and
Oklahoma who have been the recipi-
ents of the favors in time of need or
life time.''
To the officers Of the big association,
Colonel John F. Carter as president.
John @. Royce as secretary, and A,
E. Quinton as attorney and vice presi-
cent, must be given the praise for
development and management of the
association in such a manner, that
such a report as was made by the
pank commissioner of Oklahoma, is
possible.
This is the first examination we
have had since 1902" said Col. John F.
Carter. president. treasurer director
ana the active manager Of the Aetna
Building and Loan Association. land
the result OF that examination was
the same as this Just completed. We
are proud of the report and the show
ing of the Aetna Building and Loan
Association, as it shows the real con-
dition of the Institution. It is our sin