La Junta tribune., 1916-02-05
BUILDING AND LOAN slRErIxa,

BUILDING AND LOAN llEEEIN0.
Twcaty-flfth Annual Needing q ~
Otero 1.oan ard Hsilding Asso.
ciatton Held Last Monday.
Last Monday evening the annual
meeting OF the Otsro Loan and Build
ing Association was held In Hasmony
Hall. and the attendance Of the msaa-
bers was one ofthe largest In he
history OF that organization, the
number Of ladies present being par
ticularly noticeable n we'll q m
usual. At the present time there aro
1881 members Of the Otsro Loan and
Building Association. and over three-
fourths Of the members live IN L.
Junta-or about 800 individuals. but
never In the history Of that orgaui.
sation has there been full attend
ance Of the membership 1t an an.
nual meeting.
The Rourke Theater. from pit 70
dome. would not b large enough 70
accommodate the Individual membsrs
Of that organization. even in L. Jun
u. II II were possibls or necessary
for all Of them TO attsnd the annual
meeting. The members Of the Otsro
Loan and Building Association seem
to b eminsntly satisfied with the
management Of that institution. -
nearly all Of the prsssat directors
and officers have held their positions
continuously ever since the associa-
tion was organised twenty-five years
ago.
In times past there has usually
been considerable difficulty in ~
curing the quorum Of stock necessary
to hold the annual meeting. and oas
year The difsctors held ovse for o.
other year on account Of the necss.
sary quorom not being available. This
year the necessary quorum required
WAS 7.lsl shares Of stock and On, the
first poll Of the stock it WAS found
that :! .3sA shares were rspressntsa
at the meeting.
Dr.. FfaAk Pinaey. psssiAent a ~
OtsFe Laan aaa Duil1iag Asaeelatisa.
2 ;''e; 8 - -
sseestasy. ~. rAiIIsDs. = 9aklng
his anaual SsDost - ~ us0bsss e
the associations. aid: 'sTAere hae
never been . year 10 our history Win
better allowing or more satisfactosy
In every way than 1918. talsing ~.
erything into account. We ore grow.
ine and the growth b healthy. I ~
serred IN my report year ago 70 the
period Of re-adjustment through
which the country had beea pasaiag.
The large amount Of real estate &C.
quired By our association indicates
the only way In which We have beea
affected and IL this connection Il b
gratifying 10 know that the real -
tate account has not Increased any
the past year. In other words. the
tide has turned and from now on our
real estate account WIN bs reduced
until. hope. II IL wiped out entirely.
! have also referred IN these reports
20 tho panic years dating from 1897
and their slight effect on our associa-
tion indicated only BY . large num.
ber Of foreclosures. THIS period has
nov come 70 On end. and ne are q
the beginning Of . new era. This ~
lag true and takias into coasidsra-
tion the expesience aud traiaine dur.
ins the past twenty-five years Of eus
offlceSs and directorr. ! fail 70 -
aaythiag IN the future but contiaus1
success and prosperity for the asse-
eaatloa."
Mr.. PhllliDs IL bic report also II.
cluded some Interesting infosnssloo
coaeesninG buiIdlss aad loaa asse-
ciatioos In eeaeral. The first build-
lae aad 1oan associatioa was eeeao-
lsed In the Usitsd osates about sighr
ty.five years ago. and at the DFsseoe
tine there are about e.eoo aseoe1op
tioss II thls couatsy. with . me0bee.
ship Of 3.eee.eee. This is aa sves.
age Of see nenbsss sos each saseeio-
tloa. while The local sssocjallea ~
nsmbefshlp Of 1881.
The 0ssre l1eaa end Bulldlag ~.
soelAsioo is The Largest flnaaeial -
ssleutloa u Southern Celesa1o ~
sl1e q Pueble. aal the expeoeoo -
ealy aboue ess ~ eeat - ~
aneunt ~ buslaess traaaaeoe1. ~
leeal asseelslisa \ puesoy . no1u1o
affair. wtlA - salasle1 oeeleosS -
~ g ~ soeseoasy. - ~ ul1CD
ehan on0ehlng ~ = oeohonov -