The Washington herald., 1914-11-12

The report of the Equitable Cooperative Building
Association for the past year shows that the assets the
number Of shares subscribed the amount paid on stock to
the credit of stockholders the loans outstanding and the
profits and surplus have each increased.
The receipts 81 592 4O5.36 The assets this year
are The increase in assets for the year
$246,5l576, the largest made The assets have in
creased 81 1049 49543 since the twentyffth annual
ing, making average yearly increase of $104 94954
The number of shares subscribed was $685. Shares
advanced on 37O2S not advanced on, 1922 total
200748 The increase in the amount to the credit of
shareholders 1854 $685. making the total to the
credit of shareholders $238 1928 The average each
share is $l36 increase of $S16, and the average
the credit of each shareholder is $5209S, of
$30.4.
The amount received during the year on stock was
$532 509.75 and the dsbursed was 1918 1923
The interest paid on stock redeemed was $51 1876 21
There are twenty-six issues of stock that have
tured which would require 81 351 23635 redeem of
this amount 1897 999 would be principal and $13 636
interest profits.
ssue-the Oldest matred stock-the redemption value of
each share is $113920, of which $675 is principal and
$46420 interest This result of regular monthly savings
of $3.50 with the accumulated profits must be very graft
flying to the holders of these oldest issues and hand
reward for their thrift and rness of purpose in
saving shares in the Equitable.N
There are 1859 loans outstanding, amounting to
1886 468.70 showing increase of $245 29. The
average loan is 81 $780, Out of 1699 loans 1872 are less
than $1,000 each $50 of these homepaying borrow
ers and the most desirable of all for two reasons First
because ue are the most dependable and the safest and
Second-because, what is important in this
class of loans the object of the Association is really car
ried out.
The profits and surplus 1868, ,23O26 In the
twentyh annual report they 1868 479 95 showing
increase of 1894 8031, and annual increase Of
$S9 44803 The increase the past year was $72 1864
The Association holds real estte taken in under
foreclosure We therefore, still able to state that of
the total loans of $21 300 made in try-ve wears
dollar has been lost and furthermore it furnishes
conclusive evidence that, in this way of borrowing in
this Association pay for homes and other property has
been, in the highest degree, successful.
At the end of thrty-ive years the Equitable has had
in every way most successful career, conducted as it
has been upon the simple fundamental principles of
building association originally laid down by the Earl of
Selkr1 in England a hundred years ago. Regular
monthly savings and the accumulation of profits thereon
and advancing funds to members pay for homes repay
able. principal and interest in monthly inStamens is
the true and only plan strictly adhered to- and which has
brought great material benefit to the membership both the
saving and borrowing classes which could not we are
sure, have been realized in any other way.
The sound and simple building association principles
have been faithfully followed securing, as it has, the
greatest possible benefits just and weV balanced between
the two classes which constitute the mebersip-those
who save on stock and those who borrow.