The weekly Iberian. (New Iberia, La.) 1894-1946, 1913-01-25

He ld its 26th Annual Stock
holders Meeting-Issuedits its
Statement for l9l2-Elect-
ed Directors for 1913

On last Tuesday evening, a,
the Office Of the Iberia Building
A association, was convened the
10Th annual meeting of the stock
holders, for the purpose of receiv
ing tho reports Of its officers of
the past years business and for
the purpose of electing dirccto
rate for the year, 1913 The
President, Mr.. Il. F. Millard, call
ed the meeting to order a few
minutes after 7 o'clock. The min
ntes Of the last meeting were read
and approved.
The President then presented
the AnDal Statement, showing the
details of the past years business,
after which he read the following
special statement, prepared for
this meeting;
Each year, in presenting the re.
port of the business of the Asso
clatiUn for your consideration,
there are matters Of especial III
terest, to which your attention
sh0ul,i be called. You will note
despite the fact that there has
been paid out, for the liquidation
of Serial Stock by maturity aud
withdrawal, aud for the with
drawal Of Paid Up Stock, total
Of 5000, ,2GO 90, that there has
been decrease Of only 133, -! % 93
in assets THIS decline in our as,
sets will probably continue until
the serial stock is practically liz
Undated. Further, YOU will oh
serve that, while our assets have
thus decreased, the profits for
1912 are f34, 1GO 30, as against
&33,S55 % for 19ll4 That the
earnings of the Association should
be greater, despite smaller assets,
shows most healthy condition.
While the Association has loan
e.j twice the amount in Dayton
loans for 1912, az the preceding
year. it has borrowed no money.
On the contrary. an outstanding
indebtedness of ~, 800 90 was re
paid. The Dayton loans, for the
past year, aggregate $4,000 OO,
as against f33 ,O39 90 in 1911
The statement shows 3lO9 Dayton
shares in force. As our method
Of lending money begins to be un.
derstood, it is rapidly becoming
more popular; and that, with a
very desirable class Of borrowers.
In effect, the Dayton loan is mere
" . series of notes payable ION or
before''-each share in the loan
being practically n note for
al3O 90.
The Paid Up Stock account hav.
ing increased more than 800, 900.
90 last year, it was the general
impression that an unusual amount
Of this class of stock had been is
sued. The fact il, that for the
past two years, the amount Of
Paid Up Stock sold was almost
equal; O,;ng, in 1911, 1874 200 90,
anu in 1912, $50, 900 OO The diff
ference was in tn6 Withdrawals;
$35, 700 OO being withdrawn last
year, aud s73, 100 90 the year be
fore. The demand for Paid Up
Stock is not confined to those
whose savings represent q few
hundred dollars. Some Of OuI
most successful business men are
carrying large blocks Of this stock.
They realize that it is safe in
vest in the nature of quick
asset. There are now 1896 shares,
representing 4l59,6OO 90, by far
the largest amount ever on our
books.
The Series liquldated IN 1912,
both IN property values returned
to the borrowers, and in cash,
we're large; aggregating s125,O5O.
20, of which "a, ,45O 25 was cash,
and the balance Of $50, 10000 was
in property.
Another evidence of the healthy
condition of the Association is,
fhat tho item Of real estate ia
small, aud has decreased some
100000. This account repre-
sents properties which the AssO-
citation has been compelled to &C.
quire by foreclosure, or other wise,