, 1927-09-28
BUILDING AND LOAN
CLOSING SEVENTH YEAR
Substantial Growth Made by Local
Organization-$105, 3OO.OO
Worth of Stock Owned
By Local People

1S Soe[
building n Loan association is
drawing to an end, and the an
nual meeting will be held Saturday
October list, at which time a new
series of stock will be placed on
the market and the association will
start its new year. The local as
ISOLATION is one of those organiza-
lions which has made good, and
has been a real asset to the COM
munity. During the seven years
of its existence and operation in
over two hundred thousand
dollars worth of the stock has been
sold to the people of the Cody com
munity, while loans amounting to
.$61,095.00 are now held by the as
ISOLATION.
The affairs of the association are
in splendid shape. according to the
secretary's report, which has just
been issued for the year about to
close. Although loans have not been
so numerous during the past year.,
due to a lack of building, the
amount of money on hand has been
kept down to a minimum by the
III Tx vi plOCh III INO. l. SERIES
At the present time there is a brisk
demand for loans. and the outlook
is good for the next year. Regard
less of the few loans of the past
year, the earnings of the ~associa-
ton are but little short of former
years, and the next year should be
the banner year of the organization
due to the heavy demand which
their seems to be for loans, which
will keep the treasury of the as
ISOLATION stripped at all times, and
every cent of available funds work
ing.
AS IN evidence that the local
building is doing a real work as
a savings medium in the communi-
ty, attention is called to the fact
th'E a'tring the last year, by reason
of the cancellation of practically
all q the No. l series of stock,
s23,1S7.23. was paid to stock hold
ers, representing the savings and
earning of the No. 1 stock up to
the time it was forced out.
In h s~ecretary's report a warn
ing is issued concerning the pur-
chase of building and loan stock
Many stockmen have been here
from the building and LOAF COM
panies of other towns endeavoring
to sell their wares in Cody. 1t is
obvious thai these statesmen receive
generous pay for their efforts and
time, and the party who makes the
investment must eventually pay the
cost While there are probably no
serious Misrepresentation made by
the statesmen in their efforts to eff
feet sales, yet in many cases the
earnings of small associations such
as the local one are quoted as be-
ing the criterion for the anticipat-
ed profits and earnings of the com
panies which they represent.
1t is an established fact that
the larger cannot, and do not pay
the dividends of the smaller COM
panies. Neither do they offer the
attractive borrowing terms of the
smaller companies with the low
overhead. The expenses of the 10
cal association for the past year
totaled $407.09, while the earnings
aggregated $%7,739.67. No com
missions are paid for selling stock
or obtaining loans. No salary is
paid to the directors of the associa-
ton nor committees looking after
the interests of the company. The
result of the associations operations
is a very reasonable interest rate
to borrowers and a substantial
earning to stock holders.
The Cody Building and Loan is
a most useful institution in Cody.
it is beneficial to the stockholders
as a savings medium and of service
to those who wish to borrow money
on their real estate on the building
and loan plan.