The Glasgow courier. [volume] (Glasgow, Mont.) 1913-current, 1917-09-28


mutual nature of their advantages.
wen though a capitalist becomes a
member and subscribes for large
number of shares, he can derive no
benefit over the humblest member. He
must enter on the same terms, and
stand upon equal footing with them
throughout. The stockholders elect
their own directors, who insure
faithful administration of the busi-
ness, the benefits of which all men,
bers participate in alike.
The ordinary wage-earner or man
with small income finds great diff
Guilty in meeting the demands of the
present high cost of living, and it is
impossible for many to ever own a
home by the accumulation of his saw
ings from month to month. Through
a Building & Loan association he can
buy home, and by paying his rent
that he is now paying the owner of
the property, to the association, it
will in the course Of few years pay
for his home, and he can arrive at
old age, free from the worry of "what
you goin' to do when the rent comes
round"
Great care has beer used in perfect
ing an association for Valley county
and in making it one Of the very best.
A large number of associations have
been investigated in Montana, North
Dakota, South Dakota, Minnesota,
Iowa, Missouri and Ohio. Mr.. Good
rich and Mr.. Mason spent some time
with the officers of the Miles City
association, and in order to give the
people of Glasgow an idea Of what the
! Building & Loan association is doing
at Miles City it might be we'll TO say
that Miles City has had Building &
Loan association for 26 years. At the
present time they have outstanding
loans of $639,000.OO in Miles City to
wage-earners and men with small in
comes, who are paying for their homes
with small regular monthly payments
the same as rent. Practically every
business and professional man, as we'll
as all the banks are stockholders and
boosting and giving the association
their unqualified support. While
Miles City has the oldest and largest
Building & Loan association in Mon
tana, Kalispell, Missoula, Big Timber,
Bozeman, Havre, Great Falls, Helena,
Billings and Glendive all have good
and successful Building & Loan asso-
Citations, which are contributing q
great amount to the upbuilding o1
their towns and communities.
| The plan of the Valley County as
sociation will be as follows: There
will be two kinds of stock, each with
a par value Of $4,000 per share. The
paid-up matured stock will receive di-
vidends of 71e, but will not otherwise
participate in the profits of the asso-
citation. The installment stock is paid
for at the rate of 75c per share per
month, and will mature and be worth
their face value of $4,000 in about
SO months. The association will loan
a person who owns their lots money
to build home on it, or they will loan
those who can make small payment
down enough to buy a house that is
already built, and he can pay for it
at the rate of $500 per month on
each $1,O00.00 borrowed. An indi-
vidual to make loan must subscribe
for installment stock with the asso-
citation for the amount of the loan
This money is then borrowed on the
stock and mortgage taken on the
property as security for the loan. The
stock and interest are both paid for
on the above monthly basis. The bor-
rover participates in all earnings of
the association the same as the nom
borrower, and when the stock natures
the loan is paid with the matured
value of the stock, and the home be-
comes the property of the original
borrower, free of all rent and in
debtedness. It will require approx
mately So months to pay for home
on the above plan.
The incorporators of this associa-
ton realized the need for such an or
ganization in Glasgow where houses
are scarce at the present time and
families are every day leaving Glas-
gov owing to their inability to find
living quarters. This move has been
made in order to promote an associa-
tion that this community is so greatly
| in need of, and will be of undoubted
benefit to the town and community.
The business and professional men
and bankers, and all citizens of Glas-
gov who are interested in the upbuild-
ing of this city and community are
now being appealed to for their moral
and financial support of the associa-
ton. Subscriptions are now being
taken for stock in the association.
Paid up stock is $4,000 per share
par value, which guarantees 7Te in
terest payable semi-annually, or in
stallment stock is 75c per share each
month and will mature into paid up
ctnck in annroximatp1v 9f months