The weekly Iberian. (New Iberia, La.) 1894-1946, 1916-01-22
IBERIA BUILDING ASSN.
Held it's 29th Annual Stock
holders Meeting-Issued
its Statement for 1915
Elected Directors for 1916.

Elected Directors for 1916
On Tuesday evening last, a
the Office Of the Iberia Building
was held the 29th annual meetiUj
of the stock holders, fol the pur
pose of receiving and discus ip!
the reports of its officers covering
the past years business, and fo
the purpose of electlDg a board 0
directors for the ensuing yea
Mr.. e +. MiIlard, the preside
called the meeting to order at tt,
usual hour, and after the readina
OF the minutes of the previous al
nual meeting, he presented t.,
annual statement of last year {
business, after which he read the
following address, prepared fOi
this meeting:
For several years past, my ad
dress TO the stockholders has,
lar gely, dealt with matters af
fectlDg homesteads III general.
1915, from the standpoint of leg
islation, changes in methods and
problems of serious import TO
uildiDg associaii ions, has been
peculiarly uneven,fu'; hence my
report tonight will be entirely de
voted to the consideration of tie
affairs of our own Assoc,ation.
This year, the seven b of our op.
Grafton under the Dayton plan,
for the first time since its adop
tiOD, shows a slight increase in
our assets over it's predecess0r
Prior to the change of pan the
stockholders were warned, and
the fact has been repeatedly EN-
phasiZed, that there would be a
shrinkage of the assets Of the As
sociation from year to year, unJi!
the entire liquidation of the old
serial part of the association.
This elimination of the serial
plan and the stock issued and
loans made hereunder having
been practically accomplisnt q,
we may hope for a gradual in
crease of assets, as we'll as a
slight increase in the earning
power of the stock, provided thai
the business conditions of our
community and Parish Justify an
Association larger in size and the
demands of our peculiar class of
business call for more funds, am
ply secured.
Since Its organization in 1887,
our methods have undergone
many changes, until We have
evolved d a plan most advantageous
to the borrower and equalled by
no eight per cent loan in the Par
ish. On the other hand, proper
ty conditions have likewise sus
tained a metamorphOsis' as TO va !
ne. In the infancy of the Iberia
Building Association, our loans
were made on a rising property
market; today values are, in some
cases, stationary, and in Others
declining, necessj'atiDg e the ut
most conservatism in making
loans. Today each separate ap
plication for loan Is a distinct
problem, to be considered on a
fair appraisal, the estimated mar
ket value of the property, its
rental value, the circumstances
of the would be borrower and
many other angles. While your
Board has had numerous applica-
tions for loans, you. will note
that during 1915, we paid out fof
Dayton property loans s39, l66 90
as against $50. 993 10 dnring
1914; a decrease of S2l,S26 60,
or over one third. Yet this is
not due to lack of apple alton
for loans, nor to scarcity of
funds.
From the increase in the
amount of Paid UP Stock, that
item appearing as $l95, 900 90,
the inference would be that more
of this stock had been issued last
year than during 1914 A com
parison of the statements of the
said years will show that we re-
ceived from paid up stock IN
1914, S71,2 90, as against s47,.
800 90 last year. The increase
IL due to comparatively sm all
amount Of this stock with drawn,
its issuance having at times been
suspended, due to an accumula
ton of funds for which there was
no investment Our people, f. m
the wage Garner with one share Of
paid up stock to the capitalist
with block of one hundred OF
these shares, regard it as abso
lutely safe and in the nature of
quick asset. That is, reserve
upon which they can draw at a
moments notice.
A study of the statement
shows an increase of the paid nj,