Norwich bulletin., 1922-01-12
NORWICH BUILDING LOAN
STARTING TWELFTH SERIES

A very interesting and most enthusiastic |
meeting was held at the Odd Fellows hall
Wednesday evening under the auspices of
the Norwich Building and Loan Associa-
ton. The meeting was held primarily for
the purpose IF interesting the public in
and giving them information regarding
the new twelfth series of shares which the
association is issuing this month AS
result of the meeting a considerable num-
Der Of shares were sold during the even
ing.
The meeting was called to order at S
o'clock by Ernest o. Rodier, president IF
the association, and opened with COM
munity singing Charles W. Pearson,
holder of the first book now running in
the first share series of the association,
was the song leader and the music was
furnished by an orchestra.
President Rodier's opening remarks
were S follows:
Ladies and Gentlemen: It gives me
great pleasure to welcome you to this
meeting which is being held to acquaint
you with each ether and to give you an
idea of the work of the Norwich building
and Loan association. In April 1916, the
association was Incorporated and started
| to do business in June of the same year.
We have now been doing business for a
period OF six and one-half years and have
275 members, The money paid to the as
ISOLATION each month by it. members is
| close to $4,000 and Ii we hid twice that
income each month we would do a bigger
work
The only way we can increase this income
Is to receive new members into the asso-
citation and this can be done If YOU will
make every effort to bring your friends
and acquatntances into the association
thereby helping them to be prudent and
encouraging them to become steady savers.
Since We began to do business orr as
ISOLATION has made 80 mortgage loans
and 80 per cent. wero made fol new build
irgs. There have been many applica lions
made for loans which we are unable 70
act upon for the reason that our funds
will not permit Us to do so. We have a
waiting list of applicants for loans and
these applications will be taken care of in
their turn and we hope to be able L
grant at an early date loans to those who
comprise our waiting list
The monies of the association are care
fully guarded and are under the supervi
sion Of our state banking co1nnlissione e.
and the books of the association are audit
ed each year by a bank examiner. IN,
management Of the association consists O
local persons who are engaged in thei
own lines of business but who give theiI
time cheerfully to the association for tn,
, benefits 1t in turn affords those who wis.,
to build or purchase heir own homes an<
to those who wish to save.
The dividend earnings for two year
have been 5 IL per cent. We trust tina
you will interest your friends and &C
!. quaintances TO begin to save at least 81 o.
per month which will entitle them to
: share as members of the Norwich Buildinj
and Loan Association.
Charles V. James the associations at
torney, was the first speaker. He spolz
from legal view2cfnt explaining the leg
: al safeguard of the association through
the state laws.
: Robert McNeely spoke on the sub1ec
5 of appraising property for mortgage an
I how loans are made to buy or build
house.
! ! Stafford Sicily SPOKE on building
home with the aid of the building and loa
association.
Timothy c. Murphy, ex-mayor of Nor
witch, told of his experiences with tn
9 building and loan association. Mr.. Mr.
: ply said he has beer. with the associatio
= since it's first series was issued in 1915
= He said he doesn't know of any organi
\ cation that is doing more for the cit
e than the building and loan association
= The rate Of 10 per cent. Is a good in
t vestment. Instead Of taking in $4,000
- month we ought to be taking in douqbl
{ that amount, said Mr. Murphy.
President Rodier invited all present I
1 take out shares at the meeting Of the as
= sociation which Will be held in the char
: Der of commerce office next Tuesday ever
ing. Refreshments were served at til
p close of the meeting