The weekly times-record. (Valley City, N.D.) 1912-1922, 1922-02-09
new BUILDING AND
LOAN ASSOCIATION

New Investment Company in Valley
City Organized by Well Known
Local Men
We are pleased to announce the
launching of the Fidelity Building &
Loan Association which has recently
perfected it's organization and is
about to offer it's securities to the
money saving public throughout the
state. Upon looking over the liter
ature and bylaws of the Association
we are led to believe that the plan is
based upon sound principles and that
the public will be quick to avail them
selves of the opportunities offered it
to share in the enterprise.
Briefly, the object is to accumulate
the savings of its members through
the monthly savings plan; that is to
say, subscribers to their shares will
pay for same in monthly installments
of fifty cents per share. per month
and can take out as few or as many
shares as their savings will permit.
Very often it is possible for person
to lay by few dollars each month
but the amount is so small that it
is impossible for him or her to make
a sound investment, the amount
saved not being large enough to in
vest; but where several hundred per-
sons get together and pool their saw
ings they are in a position to loan
their money each month through the
Association upon first mortgage real
estate securities.
We note too that every precaution
has been taken to safeguard the in
vestors; for instance in the event Of
subscriber becoming physically dis
abled Or out of employment or forced
to meet some unforeseen expense,
such as death in the family, arrange
ment is made to carry the subscriber
through the hard luck stage without
loss or penalty. The Association is
not stock company but is mutual
and all of the earnings go to the
members except actual running ex-
penses which are conservatively linn
tied by the by laws of the Association
and also by the laws of the state.
Space will not permit us to elabor-
ate upon the many attractive features
of the Association but we do want to
add few words as to the personnel
of the management and the board Of
directors all of whom are men of very
sound business integrity in the COM
munity in which they live and are
| known.
The President of the Association,
Mr.. D. W. Clark, has lived and pros
| pered in Valley City for forty years
and has built up one of the soundest
and most successful fire insurance
companies in the northwest, the
North Dakota Mutual.
Fred j. Fredrickson, Vice Presi-
dent, is one of the younger attorneys
of the city and is also City Treasurer
He read law in the offices Of Winter
er & Richie and was admitted to the
bar in 1918 just prior to his entry
into service in the World War.
James W. Nelson, Treasurer, is
too we'll known throughout the state
to need any further introduction and
suffice it to say that he has lived in
Valley City all his life and has en-
| joyed the respect of the community
in all things. The abstracting bust
ness built up by him is one Of the
largest in eastern North Dakota.
The Secretary, John D. Gray, has
resided here and done business with
the general public for the past six
teen years with record for upright
ness in business and square business
principles.
DR.. A. S. Zimmerman of the Valley
City Clinic has long been highly
successful physician and surgeon.
Director E. H. Mcfarland, was born
and raised in Valley City; is an ar
chitect by profession and stands high
in his chosen work and as man
The seventh director and the one
who will have charge of the general
selling features of the Association
is Mr.. Chas. A. Baker who has had
wide experience in savings and loan
work and whose record for upright
dealing cannot be questioned.
With this lineup of officers and
directors the Association the name
Fidelity" will always be lived up to
and we bespeak for them the support
which men and Associations Of this
character should receive.
The Association will temporarily
share the office rooms of Fred J..
Fredrickson at 519 Fifth Ave. North
where the public may procure htera-