The Bridgeport times and evening farmer., 1922-06-29
First Mortgages
 Recognized As
 Best Investment
Building and Loan Asso- citations Throughout U. s. Perfect Machines to Provide for Mort gage Loans.

Fer years first mortgages have been recognized as the most substantial investment. Trustees and managers individuals of means have used first mortgages as the foundation of their assets, or the cornerstone of their fortunes. This is because there was no fuctuatiOn in their value. The income is steady, regular and un- changed. Practically the only Ipec- ulation lies in a revolution or an earthquake.
 The home owner, building a house, does not have to pay large rates of interest on loans needed to erect his home as the first mortgage is always for an amount equal. to about one half of the cost of the property. In the United States, security in the shape of a house and land, worth twice as much as the loan, is recognized as the safest investment in the world.
 Housing Shortage. The World War left America with a great housing shortage. Bridgeport s citizens had the foresight to meet the situation to a great degree, but the attraction of capital to many other channels has made it rather difficult in the past few years for home build CTS and home buyers to secure loans for six per cent. and less.
 The most perfect machine that has been set up to provide money with eSu1arlCy TOT m gage loans are the institutions called Building Loan As sociations in some states and coop eratiVe banks in Massachusetts and other states. These associations op- erating under state laws have depos- itorS or members who invest from one Io fifteen dollars a month in any single series of shares promul lgated by the associations; the series origin ating at regular intervals during the year and continuing in force until each share starting at one dollar grows to a value of $200 by accumulation of the one dollar deposits plus the com per cent. the shares grow to the ma turity value of $20O in about eleven years and seven months.
 This system requires that the as sociations must have more depositing members than borrowing members. There is always a waiting list of pr OS- pective borrowers.
 With four building associations do- ing business in Bridgeport last year with hundreds of members, less than thirty homes were built in that per iod.
 Those who cannot secure loans from the savings societies or the savings banks because the demand for money exceeds the supply, seek loans from individuals, and individuals with sufficient sum to loan for fifty per cent. of the value of even a modest building are few and far between. In order to meet the situation and
  safety The National Mortgage Com pany has been organized under the laws of the State of Connecticut It's plan is to sell first mortgage notes in multiples of $500.
 The theory which should work out in practice is that it will be possible to Provide funds for a $3,00O mort gage more quickly by pooling the funds of six five hundred dollar in vestors than to wait for any individ- ual to supply the entire amount; to say nothing of permitting the lender to put his funds to work at six per cent much sooner than before. First l mortgage security is placed within the reach of the investor in notes of | smaller denomination than has been | the practice for many years in the past.
 The first offering of the company is | 200 of the $500 notes against the 1 handsome Iroquois Apartment House ! located on Golden Hill, at Washing | ton avenue and Coleman street. The 1 site was formerly occupied by the | mansion of Henry Sanford, for many | Express company. Located a few | minutes walk from the center of the | shopping district of the city, on high ! ground with good air, and on one | of the principal residential avenues 1 of the Park City there could perhaps | be no choicer offering in the way Of a first mortgage investment. | Through the agency of the First 1 National Bank all the notes are regis | tered to by it's trust department. 1 Checks in payment can be drawn in | favor of the National Mortgage Go. | or the First National Bank of Bridge port and mailed to either the bank or the company at it's offices. roms 506, 507 and sos First National Bank Building.
 Interest will be computed from the date of purchase and checks sent regularly and semi-annually by the company acting as trustee. The own ership of the notes will be register d at the office of the company and | owners transferring them through sale may register the transaction at the office of the company as we'll as upon the note.
 l The Iroquois Apartment building is a four story structure of tapestry | brick in two units or wings. of most modern type, providing 31 apart ments which have always rented since the completion of the structure a lit tie over two years ago.
 Two reception rooms, a ball room. elevator service, hot water heat and the service of three attendants are at | the disposal of the residents of the Iroquois throughout the day and night. The gross annual income of the property is s22, 2,O0O.
 l The National Mortgage Company will receive applications for first mortgages at it's offices 506-5O7-5OS First National Bank Building | No bonuses will be charged and the money will be kept in Bridgeport by l re-investment.