The Washington times., 1914-11-12

The report the Equitable Cooperative Building As
socaton for the past year shows that the assets the
Der of shares subscribed the paid stock to the
credit of stockholders the loans outstanding the profits
and surplus have each increased.
The receipts were $l,5s240556 The assets this year
are S295258762 The increase in for the year is
S24651576 the largest made The have In
creased ST O49 49543 since the wenty6h annual meet
ing making average yearly increase of $104 94954
The number of shares subscribed was $685. Shares
advanced 37028; not advanced on, 1882; total
2O0748 The increase the amount the credit of share
holders Sl5432952 making the total the credit Of
shareholders $685. 1928 The average each share
S1367 increase of SS6 and the average to the credit
of each shareholder is S52O9s Increase of $3041.
The amount received during the year stock was
S532 500 75 and the dsbursed was $685. 818O23
The interest paid stock redeemed was S51,l95.2l.
There are twentysx of stock that have maured
which would require ST 35l 23635 redeem; of this
amount s9375 $1,000 would be principal and 56363e in
terest profits.
1t will be of interest to note that in the tweny-tlird
ssuehe Oldest maured stock-the redemption value of
each share is Sl3e20 of which S675 is principal and
S46420 is interest This result Of regular mohy savings
of $3.50 with the accumulated profits be very gratifying
the holders of these oldest issues, and handsome
ward for their thrift and rmness of purpose in saving
shares in the Equitable.
There are l,6es loans outstanding, amounting to
S2856, ,4687O, showing increase Of S245,76229 The
average loan is ST. $780, Out of 1899 loans l62 less
than S. 900 EACH $50 of these home paying borrow
ers, and the most desirable of ALL for First
because they the dependable and the safest and
of loans the object of the Association really carried
The profits and surplus 66323O.26 In the twenty
fifth annual report they S26S47es5 showing in
of $3944S031 and annual screase of 4803
The increase the past year was S72,43624.
The Association holds real estate taken in under
foreclosure We are therefore, still able that of
the total loans of S2 800 made in hrve years, not
one dollar has lost and furthermore it furnishes
elusive evidence that in this way of borrowing in this Asso
ciaton to pay for homes and other property has been in
the highest degree successful.
At the end of thrtyfve years the Equitable has had
in every way successful conducted has
been upon the simple fundamental principles of building
association as originally laid down by the Earl of Sekrk
England over hundred years ago. Regular monthly savings
and the accumulation of profits thereon, and advancing
funds to members pay for homes repayabe principal and
interest in monthly instalments the true and only plan
strictly adhered and which has brought great material
benefit to the membership both the saving and borrowing
classes which could sure have been realized
any other way.
The sound and simple building association principles
have been faithfully followed securing, has the great
est possible benefits just and we'll balanced between the
classes which constitute the membershpthose who save
stock and those who borrow.