Putnam patriot., 1923-07-20
BUILDING AND LOAN
 DOING SPLENDIDLY
Assets Have Increased More Than S24,000 Since Jan
 uary I, 1923
Monthly Receipts Are About s5.Goo. How Association Serves Public

The officers of the Putnam Building < Loan Association submit with sat. isfaetion the semi-annual report ol the last six months which has been the most successful half yearly peri. od the association has had since it, organization in 1916
 Since January 1. 1923, the assets have increased more than S24.O0O and since that date more than $50 00D have been loaned to share holders and eight shareholders h2ee been finan. cially assisted in building or buying their own homes. There are now applications from shareholders for loans totalling s35. .000 with which to build or buy new homes and there is only $500 on hand. at the time the report was compiled, to meet the de. mands for these loans.
 Monthly Receipts About S5, 900
 The monthly receipts of the as- sariation are about S5.00n. which means the association is about seven months behind its applications. and shareholders will therefore be rc- euired to wait several months al- td0u D their applications aHe already 0n die. So many applications are comm in from shareholders that no reHrlsts for loans can be received from others than present sharehal l. CTS Two applicants for loans. nat already shareholders. could not Rat taaiH applications acted upon for tai- ra
 Inc only way to be sure of reeeiV- ing Ca arable action is Co become a shareholder at once in order to pro vide for Che future when a loan is required The sixteenth series k now selling and 137 shares had been subscribed up to Thursday morning.
 During the six months period GOV cred by the report mortgage loans 5f S25. 900 have been made bringing the total amount loaned on morteag- es up to S147, 900 at the time the re- rort was issued. The total earnings for the six months period amounted to s3,929.44. The regular dividend. maiHtained since organization, was declared. This is ] per cent per anuam compounded.
 Serves Wo interests
 The Building < Loan association scrt s two interests-the saver and the borrower. For each share one dollar a month is paid by the share holder in monthly payments. The payments have to be made on or be- fore the fourth Tuesday of each month or the shareholder is subjected .f Fr.. -ka This feature creates a systematic saving as the shareholder knows he must nay on a fixed date and has his money ready The same system might be maintained in any other institu- tian but as it is not compulsory to make monthly payments that ineen- tive is absent and often the intend ing depositor puts the matter off and finally allows his good resolutions to lapse altogether. All deposits draw five per cent interest compounded semi-annually. This makes a good investment to the depositor, safe and sure.
 The borrowing feature is a benefit Go the depositor and Co the eommuni- ty at large. The extracts from the report, given above, evidence the importance of this feature of the as sociation. The two features are CO., ordinate as one cannot exist without the other. At present the demands for loans exceed the income. Fhis can only ne overcome by the sale ot more shares.
 Alexander Gilman, president of the association, Attorney NJ. II. Geissler. secretary. or any of the officers of the association, are at all times will ing to give their time to explaining the details of the working of tne as soeiation to any one interested As the plan unfolds fl Is at once ap- parent that the Building X Loan as sociation is the best and cheapest medium in financing the building or buying of homes. All that IS nee essary is that one be q member of the association Even during the period his loan is running he IS rec eiving interest from the association This reduces the amount of interest the borrower is paying to a mini mum.
 The officers hope to sell good number of shares before the SIX teenth series is closed and the shares may be obtained now at the office of the secretary in the Windham County Bar Library, Court House block, Main street.