The weekly Iberian. (New Iberia, La.) 1894-1946, 1911-01-21
IBERIA BUILDING ASSN.


| On last Tuesday evening at the
office of the Iberia Building Asso-
citation was held the oath annual
meeting of the stock khOlders for the
purpose OF receiving the reports
of the past years operations and
| to elect new Board of Directors
| for the current year.
Mr.. +. f. MiIlard, the president,
called the meeting to order and,
after the reading of the minutes,
read the annual address as follows. .
January 18th. 1911.
| The past year, in the history Of The
| Iberia Building Association. has, IN
many ways, been unique. Series 81.
! the larg EST maturing series in its histO
I ~, was liquidatcd ll9 shares matur-
ed in SAID series, representing a value
OF (soO,GS2 OO) Ninety thousand and
eighty-two Dollars, Of which (S.3 SS2,-
| OO) three thousand c gbt hun
| dred and eighty-two Dollars was cash
and (Sl6, 10000 Sixteen thousand
two hundred Dollars was property
The receipts and Disbursements of the
| Association were likewise greater than
those ofany previous year. Our state
mcnt showg receipts Of ($lO7. .l67.I7)
Four hundred and seven thousand six
hundred and sixty-seven and T-lOO
Dollars; deducting ($33, 763 O,) Thirty
three thousand seven hundred and
sixty three and 05-lOO Dollars. cash on
hand January lst, 1910, and $4,000 :
OO) Ten thousand Dollars Of borrowed
money, leaves the cash actually re-
ceived over the counter 1863, ,9U l2)
Three hundred and sixtythree thou
sand nine hundred and four and r. 100
Dollars; being considerably more than
one third OF million of dollars. Over
100000 O0j Four hundred thousand
Dollars was paid out, leaving bal
ance on hand on December 3lst. of
only GA ,395 36) Four thousand three
hundred and ninety five aud B. 100
Dollars.
For the first time during its exist
ence your association found il neces-
sary to borrow money. A loan of
$40 600 OO) Ten thousand Dollars be-
ing made. This might have been
avoided by refusing loans on notes.
or property loaEs; but your directors
deemed it the better policy to accom-
modate the stockholders. Five thou
sand dollars Of the amount has been
repaid Nothing more strongly illus
trates the popularity Of orr method of
lending money aud the favor with
which the Dayton Plan has been re-
ceived than the fact that more than
third Of million of dollars was re-
ceived and over Four hundred thou
sand Dollars disbursed in one year by
the Association in the ordinary Course
of its business At the expiration of
the two years during which the Day
ton Plan has been in force there are
outstanding loans on 1864 Dayton
Shares, aggregating ($lT.3 10000 One
hundred and seventy-seven thousand
three hundred and twenty Dollars; IN
increase on our Dayton loans of ($73,-
5000 Seventy-three thousand four
hundred and fifty Dollars for 1910, and
this, despite the fact that Sl2.35O.O0
Twelve thousand three hundred and
fifty Dollars of Dayton loans have
been repaid. The shareholders find 1t
to their advantage to cancel the
shares borrowed on as soon az One
hundred and thirty Dollars of install
ments is credited to their account on
the pass books, thereby reducing In
terest payments. The number Of Day
ton shares in force is 2495.
We matured four series; that is 53, "a,
IS and So, at a value OF t$l59, ,2S2.OO)
One hundred and fifty-nine thousand
two hundred and eighty two Dollars,
of which Ola Ss2 90 One hundred and
fourteen thousand eight hundred and
eiphty-two Dollars was in cash ami
(s44, 10000 Forty four thousand four
hundred Dollars was In loans.
A transaction Of peculiar interest to
the members Of the Association is the
purchase Of the lot jast below and ad-
Joining this building by the Associa'
ton, with a view to eventually erect
Ing it's office thereon. The total cost
of the property, including the record
er's fees and certificate OF mortgage
was, (s5, ,1O6.5O) Five thousand one
hundred and six and 5O-1OO Dollars.
The site is especially suitable for the
Associations Office, due to its central
location, its proximity to the court
house and to the fact that for the last
fifteen years the Association has been
located Fl rst directly opposite and later
adjacent to the said lot; and to the
further fact that, save for the first two
or three months Of its existence. the
Office Of the Association has been In
different buildings between Iberia and
French Streets.
The Paid Up Stock in force is ($97,-
3OO. .OO) Ninety seven thousand and
three hundredd Dollars, an increase OF
(I3 200 OO) Thirteen thousand two hun
dred Dollars for the year, despite with
drawals Of that stock. aggregating
1886, 900 OO) Thirty six thousand nine
hundred Dollars.
It peculiar to note that while the
profits for 1910 are (s4O.S53 09 Forty
thousand eight hundred and hity-hve.
Dollars, there is only Seven Dollars OF
difference between the profits of tn's
wear and those of 1909, the latter year
exceeding by the small amount nam
ed. While the two years are appafo,
emily identical in profits those OF 1910
are proportipnntziv~greater, owing to
1rcHzfelieved in % minutes by
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